Quote from: BlackHatCoiner on November 27, 2023, 05:35:33 PM

I don't believe that the masses control the world. Maybe they did once, but not anymore. Democracy is a failure. It's just the least worse regime comparably to the rest. Or as someone had once put it, "Democracy is the worst regime, except all the others". For it to function properly, it requires strong citizen maturity and character, and that is almost never the case. Granted. It is the closest thing we have to harmoniously live alongside and, by compromises, to maintain a healthy community. But it's self-destructive, just as humans. It is inevitable at some point that social institutions will corrupt, and the people will not just turn against the corrupted institution, but to the democratic system itself.

And that is why I like Bitcoin. It is not a democracy. It requires little effort to work; and works good. It is not controlled by the masses, but by neither a tyrant. It inherits the good virtues of democracy without incorporating the extensive effort and conditions it entails. You need Internet connection and a computer. Boom, money sent overseas secured by a mechanism which converts human greed to collective benefit. The bet is that this beautiful combo can overcome human corruption, or at the very least, navigate around it.

Hihihi, you forgot one thing, the one that makes the world spin, MONEY!

Every system will work, even democracy or communism will do perfectly until you hit the money thing, and that's when the problems come, based on the scale of money involved, the ability of an individual to seize it all and the price everyone puts on their beliefs, so if they sell that for 10 cents a day, there you go NK failure.

And that will come to Bitcoin, Bitcoin itself is just a protocol, it can't become corrupted on his own, but as any protocol it rilies on humans, humans update its features, humans host nodes, humans host miners, humans make transactions, and so on, but most importantly!!!
Humans make MONEY out of this, and this feature is the point of failure if it's impossible to find a mechanism to prevent is, which is not that easy.

But you know what's the currents stop? Also money!
So miners won't do something stupid because they will lose money on it, now offer them twice as much and you'll see how frail the protocol is against greed, but right now it's money that's guarding the network.

Quote from: Abiky on November 28, 2023, 04:27:25 PM

With how expensive PoW mining is becoming each day, things are going to get worse in the long run (more centralization). BTC needs to switch to an ASIC-resistant algorithm to strip away big mining companies and centralized mining pools from power.

There is no such thing!
No matter what protocol you choose you can design an ASIC that will outperform your average Joe computer by an order of magnitude.
What's preventing some coins for being mined by ASICs is their daily reward, if that is worth a few thousand dollars a day nobody will invest in building an ASIC for that, but with BTC we talk about 30-40 million a day.

Quote from: cryptosize on November 28, 2023, 12:48:31 PM

You really think people will be so enthusiastic to abandon cash in favor of CBDC, social credit score, carbon credits, 15-min cities? Roll Eyes

Only a gullible person would believe that... I think Bitcoiners can do better than that. Cool

You really think people would abandon cash for credit cards, hard cash in hand for 401k, your free spending for FICO ? Oh wait...
We're talking about 8 billion people, and 14 years in which way less than 40 million (and these are addresses not wallets) have chosen to be their own bank, probably the right numbers being lower than even 5 million.