Re: [neㄘcash, ᨇcash, net⚷eys, or viᖚes?] Name AnonyMint's vapor coin?
This redudancy + partionning paradox is extremely hard to understand for a newbie who's native language is not even english...
It would be really appreciated if someone could rephrase this paradox summing up with easy terms what is the issue and its consequencies
I am years ago of your computer science knowledge and I may stay years ago of your knowledge in this field for the rest of my life since it isn't my study field.
Thank you in advance.
It would be really appreciated if someone could rephrase this paradox summing up with easy terms what is the issue and its consequencies
I am years ago of your computer science knowledge and I may stay years ago of your knowledge in this field for the rest of my life since it isn't my study field.
Thank you in advance.
Hopefully r0ach and others can offer their laymen's summaries.
What you need to know is that Ethereum as it is currently designed can't scale just as Bitcoin can't scale, but the level of scaling which the current Ethereum can do is much less than even Bitcoin's current limitation because verification/validation of Serpent scripts takes more resources than verification/validation of ECDSA signatures.
For both Bitcoin and Ethereum, this is not just an issue of block size limitation. The issue is that in order to scale, the mining becomes more centralized. I think you will should note that Bitcoin and all other major coins are entirely centralized already and on the precipice of failure (all of them! study my links!).
Thus Ethereum proposed Casper which is a design that attempts to use sharding (a.k.a. partitions) to improve scaling decentralized. But I explained in this thread, that can't work. To reduce electricity consumption, Ethereum also proposed PoS-like consensus-by-betting with forfeitable deposits. PoS has known failure modes that violate Nash equilibrium.
So the point of all this is that Ethereum and all the rest of the crypto coins have not yet solved the fundamental issue of decentralized consensus.
If you want to read a theoretical discussion of why, I did that too.
Okay that is enough from me. Adios.
Bitcoin or gold? Neither!
Go with both.
However if you wanna be very flexible and quick in leaving when shit hits the fan(economy down, bail ins, dictatorship,gold gets mostly banned, cash only exist in small bills,) Bitcoin will have some advantages compared to gold.
Let's say you want to migrate to another country in oversea somewhere, hiding gold in your luggage would be a bad option if you own a bit more of it.The same goes for cash.So Bitcoin would be the right choice here.
However if you wanna be very flexible and quick in leaving when shit hits the fan(economy down, bail ins, dictatorship,gold gets mostly banned, cash only exist in small bills,) Bitcoin will have some advantages compared to gold.
Let's say you want to migrate to another country in oversea somewhere, hiding gold in your luggage would be a bad option if you own a bit more of it.The same goes for cash.So Bitcoin would be the right choice here.
Won't help you as they will ban Bitcoin to fiat transactions. And maybe even ban Bitcoin transactions that don't include a KYC id. The Chinese miners already control 65% of Bitcoin's mining. China can dictate the protocol. China has vetoed any block size increase so they already proved they are in control of Bitcon.
I explained in my video why you can't fork away from that. Impossible.
The end is near. You fools are trapped.
There is no solution.
Weep.