Quote from: stompix on Today at 12:03:01 PM

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.

Not true.

Have you studied Monero's RandomX algorithm?

It's designed in a specific way that favors CPUs (especially Ryzen ones), so that if someone wanted to design an equivalent ASIC chip, it would be as complex/expensive as a Ryzen processor.

So why not buy Ryzen in the first place?

SHA-256 is a very simple algorithm compared to RandomX, that's why it's possible to outperform regular PCs. Apples to oranges comparison.

Btw, I'm not saying that BTC should do a hard fork (like XMR does from time to time). The SHA-256 ASIC investment is too high to ignore/abandon it.

Quote from: stompix on Today at 12:03:01 PM

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.

Care to explain why the "uneducated" Nigerians didn't accept CBDC?

What makes you think that Americans/Europeans are "inferior"? Even though they started famous revolutions in the past?

Give me some compelling arguments.

The only way they can possibly lure people into CBDC is by providing a generous UBI (Varoufakis had proposed €2000/month during the COVID plandemic). Andrew Yang had proposed $1000/month in 2013 (more like $2000 with today's inflation taken into account).

Sure, that's a way, but you risk crazy high inflation (although there are way to mitigate it, such as smart contracts limiting the amount of products you can buy -> i.e. less red meat, more insects).

Still though, people are not that dumb to ditch red meat in favor of insects. China has a different culture, they also have overpopulation, which means they're forced to eat literally everything that walks and flies.

Do you guys seriously envision the West becoming like China? Is that what you want for your children?