Quote from: Tuco Benedicto Pacifico on Today at 09:57:40 AM

Quote from: jbreher on Today at 02:51:26 AM

Quote from: cAPSLOCK on July 24, 2020, 05:14:51 PM

it scales in layers with the BTC blockchain being the settlement layer, or we up the block size ala BSV.

Such woud seem the fundamental dichotomy, yes.

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What I am saying is when we do it the latter way it is going to be the realm of the super powerful to keep up with it enough to run nodes...

Not today. Certainly, it is well within the purview of insubstantial computers with good internet connections to do so for BSV today. At some time in the future, yes. Hobbyists will end up dropping off.

But that is not A Bad Thing. I mean, it's a tradeoff. Sure, its... nice if everyone is trivially able to validate the chain. But at what price? Demonstrably, so-called second layer solutions were not ready in time to stave off Blockalypse I. Nearly four years later, they still are not ready to stave off a potential Blockalypse II. (Of course, with none of the second layer solutions of which I am aware transacting on chain, they are completely invisible to the so-called 'validators' anyhow, though that's a separate discussion.)

But perhaps more germane... Humanity muddled along for one or two dozen thousand years with no discernible increase in standard of living. It is only in the last few centuries when specialization of labor has allowed us to rise out of the muck of scarcity into a stratified realm of (relative) abundance. Do you insist on developing and building your own automobile? How about a semiconductor chip? Do you think everyone should design their own computer? Build their own fab to crank out the chips? One only need refer to the seminal essay 'I, Pencil' to see the folly therein. Why would the maintenance of the financial system be the one thing that is the enforced domain of the lowest common denominator?

I say they should not. The system should grow to accommodate demand. Those that are good at validation will remain validators. That are not will fall by the wayside, and find other things to do. Things more matched to their unique set of gifts. There is nothing wrong -- and everything right -- with that.

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and we coalesce into a system worse than the current one.

B does not follow A. At least not without an explanation as to how A necessarily leads to B.

I think, going by that concept as a guideline, there would not be a need for BTC in the first place.

Nice try at reductio ad absurdium. Too bad it suffers from deeply flawed reasoning.

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(Central) banks are highly specialized and extremely good at creating money out of thin air.

If your criteria for a good financial system include the wealthy enriching themselves by stealing purchasing power from everyone, then yes, I think they have that covered. What leads you to beleive that I think this state of affairs to be A Good Thing?

If you are about to engage in argument starting by constructing a straw man, you might first wish to minimize its flammability.

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Then why come up with BTC and then also even include this message in the Genesis block? Looks like someone did indeed want to build his own automobile.

Wait - are you trying to claim that Satoshi did not so specialize in the development of a new monetary protocol? Do you realize the logical conclusion of this line of reasoning is that every last one of us should be devising our own singular and unique monetary protocol?

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Which makes me wonder - by following your line of reasoning - why you became involved with BTC anyway, since the specialists had already covered the financial side of things with their expertise...

As above, the goals of those specialists don't match mine. My goals align more closely with what Satoshi's goals seem to have been.

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Maybe the line for specialization of labour will have to be redrawn? How about those 3-D printers? Do you think, global supply chains will remain exactly as they are/used to be?

The lines for specialization of labor are in continual flux. Always have been. Well, at least from the time we first hit upon the value of such. And likely always will be.

How about those 3D printers? Are you about to tell me that every person will design each part they create out of first principles? Will everyone first design and build their own 3D printer?

Don't be ... .... ... ridiculous.