Quote from: WatChe on August 12, 2022, 06:37:06 PM

Quote from: Wilhelm on August 12, 2022, 10:42:09 AM

[edited out}

I would say Saylor has highlighted some very key points here, https://twitter.com/NeilJacobs/status/1553752187838382085.
Blockchain has a trilemma between scalability, decentralization and security. Bitcoin has scalability issues and that's a feature not a limitation (@JayJuanGee said so) but it's fully decentralized and secure.
If you are moving towards scalability ( that is making blockchain able to process more transactions)then you have to compromise on security and decentralization, that's the case with ethereum.
You are right there is no competition between bitcoin and rest of the crypto world, since there aren't any coin that fulfils the criteria of cryptocurrency. These are my few satoshis.

Attributing some portion of what I said to your gobbledy-gook and foggy thinkenings does not seem to be a very reliable way forward.

I understand that a lot of folks will point out some kind of a limitation that bitcoin has and then suggest that another coin is better because it does not have the same limitation, and there are a lot of balances that are struck with bitcoin in terms of onchain transactions versus various kinds of ways that other layers are being developed that work for bitcoin, but if you talk about some other project, such as some piece of shit project like ethereum as if it were making similar kinds of tradeoffs, then you are likely just losing any concreteness that might have existed in any points that you seemed to have been trying to make.

If we just focus on something like bitcoin's blocksize limits and its transaction times, those have come up as issues, and there had even been actual spam attacks on bitcoin's base layer for a decent portion of late 2017 and early 2018 that ended up sparking lightning network into going live way before a lot of the main developers and and other influential folks in the bitcoin space wanted to happen.. which seemed to have had motivated (at least on the margins) a lot of the spam attacks from continuing to happen, but at the same time, there has been ongoing back and forth discussions in the bitcoin space regarding ideas of scaling as you go rather than making some kind of a change to the block size limits that would then contribute towards a lot of negative trade-offs in terms of giving space for spam attacks on the main chain to be potentially economical.

If we try to figure out what is going on with ethereum's proposed balancing of the various trilemma ideas that you set forward, we have hardly any fucking clue about what they are or what they are going to be because even they admit that they have a lot of problems with their current set up, so they are transitioning to some vague and amorphous bullshit thing that does not even seem to make sense on paper.. but still they seem to continue to have money flowing into such nonsense.. at least for the moment (ever heard of a ponzi scheme.. yeah, they work upon the principle of money flowing into them to keep them going.. and they surely seem to have that going for them if you can figure out what the fuck they are beyond mere descriptions and aspirations from whatever they supposedly are now to whatever they are supposedly moving towards).. and yeah, maybe you understand it WatChe, since you seem to be somewhat versed in goobledy-gook as a language.. and maybe as a lifestyle, too?... hahahahaha.

Quote from: vapourminer on August 12, 2022, 08:45:13 PM

Quote from: Hamza2424 on August 12, 2022, 07:24:12 PM

Source: https://twitter.com/stacyherbert/status/1558105145673539584?t=O3ZBJhRkUYDLh5QdX6MACQ&s=19

yup.

i can hodl while i sleep and still get its benefits. now ill admit its rough in the extreme both physically and mentally sometimes. like, i need to take a nap just typing about it..

but, im on it!

*stamina mode ON*

zzZZZZzzzzzzzzz

Poor widdo ting-a-lie!!!!

It's tough getting old...

You fart.

Remember Bawb said to wake him up once the price gets to $30k.. and he might be onto something.. I am always worried about prematuredly getting excited.. but $30k might be a sign that we are approaching the 100-week moving average [urlhttps://www.lookintobitcoin.com/charts/bitcoin-investor-tool/](which is currently at about $37k)[/url].. and surely we might not need to actually get above the 100-week moving average in order to start to feel some confidence that the bottom is actually in.

Quote from: Gachapin on August 12, 2022, 09:23:11 PM

Many people will probably start to allocate before they fully understand what Bitcoin is, simply because key figures who they follow do.

Call me dumb.. but I don't feel like I am even close to fully understanding what bitcoin is, and sometimes my mind changes about various aspects of what I think bitcoin is.

I do have confidence that I have some angles of understanding about what bitcoin is that are better than some people who know other things about bitcoin that I don't really understand.. Sometimes I will hear a developer talking about some angle of bitcoin that I have hardly any clue about what they are talking about, and then when they start to talk about bitcoin's investment thesis or areas in which I feel that I spend a lot of time, then I might start to think.. wholey fuck, that person doesn't know some basic concepts that I know.

Oh there are some newbies to bitcoin, and they have podcasts, and maybe they have only been in a couple of years, sometimes they will present some bitcoin-related ideas that are quite out of my reach in terms of understanding, and other times, they will say things I consider to be dumb. I bet that there are some folks in El Salvador who got into bitcoin in less than a year, and they know way more about lighting network than some of us who have been in bitcoin 8 years or more (including yours truly because I don't know too much of about actually using lightning network through personal experiences), and maybe some of those folks in El Salvador might be bullish as fuck about bitcoin but only have less than a 3rd grade education..

Quote from: Gachapin on August 12, 2022, 09:23:11 PM

I think sometimes we might get too accustomed to the fact that so many people around us don't understand Bitcoin yet, and that we are still early.
That might leave us with a feeling that causes us to miscalculate the size of impact, when people finally catch on ...or to miscalculate how quickly it can happen, once worldwide FOMO begins. But things can escalate very quickly.

I cannot really disagree with anything you say here, and even some of the real world Gresham's law motivations might not really be apparent to some of us, even though there could be some bitcoin contagion that builds upon Gresham law motivations principles and some of the folks who are influenced by those kinds of sound money factors might not really realize why it is that they are getting some resonance in regards to bitcoin being better money than any other kinds of money out there... which as you say builds upon itself in a kind of snowballing gravitational way, even if the users might not really exactly know why they are being motivated in that direction.