Quote from: shahzadafzal on Today at 07:28:03 AM

Quote from: cAPSLOCK on July 21, 2021, 07:55:35 PM

OK. Just started watching this B word thing...

Maybe I will edit this as I go... but impressions.
-- snip --
Elon is not important to bitcoin. Jack probably is. Cathie seems like a competent business woman. Sorry for the many many typos... not gonna fix em. Wink

Few important and not so important highlights

1. "My hope is that [Bitcoin] creates world peace or helps create world peace," Dorsey said.

2. "I might pump but I don't dump," Musk

3. "The Doge community is irreverent and has great meme, love dogs and I love dogs and memes," Musk said.
Seriously what does it mean?

The topic of the discussion was Bitcoin, but what I felt Musk was answering everything involving shitcoins and intentionally using word “crypto” and “cryptocurrencies”.

Even during the last question about “Future of bitcoin” Elon started his answer with “cryrpto currencies”.

Yes. Musk revealed two things. He still does not understand Bitcoin really. He has not really learned that much about BTC since kind of stubbing his toe on it. His understanding of just about everything is rudimentary. From one point of view this is understandable. But from another it is really not. He is supposed to be aspergers-geniusy. And he has OUR shoulders to stand on to understand. Saylor had the same road and got it in months, if not weeks.

I do think one of the hardest things about understanding BTC is the tech tradeoffs and the risk involved in rebalancing them.

He made the argument that if small blocks are important then why aren't we making them smaller? And then laughed that off as if he had made some deep point. I think all three others mentioned that this has been something some part of the community has actually advocated for.

Thing is, I actually agree that Bitcoin could probably benefit from bigger blocks. And in MY humble opinion we might be erring on the conservative side.

But the bottom line is it does not matter how much bigger you make them. It just will NOT scale to the whole world without changing the tradeoffs. We could make blocks 100x bigger right now, and that would most DEFINITELY damage bitcoins decentralization, but it would barely scratch the surface for what we would need to serve even just 1 billion of the worlds population.

Among our (elite) group here we do not even agree on this topic entirely. But Elon is not making an informed or intelligent Big Blocker argument. Instead he just reveals that he is making assumptions that he does not understand the implications of.

He would not matter at all, if he did not matter so much

He is revered by many and wields a lot of power... so his whole DOGE sidetrack does actual real damage. So, because of that:

Screw him.