Post
Topic
Board Bitcoin Discussion
Re: Stop adding features to Bitcoin that don't facilitate its use as electronic cash
by
we-btc
on 19/03/2024, 01:05:26 UTC
I clearly don't understand or see the features.Like what are really the features you're deliberating over;what features of bitcoin do you speak of?Are you saying that the decentralized nature of bitcoin doesn't make it valuable or it's ability or feature of not been

In case you need a reminder.
Bitcoin is a digital currency that can be traded for goods or services with vendors that accept Bitcoin as payment.

Bitcoin (BTC) is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments.

Bitcoin is a decentralized digital asset and It is a new type of asset that joins the ranks of traditional assets such as cash, gold, and real estate.If bitcoin is an electronic money or cash,what are the characteristics of money/cash in particular.It serves as a means of exchange,and store of value.That means digital money like bitcoin would initially possess the characteristics of cash.These features are what makes cash and electronic cash valuable,these currencies will be a total disaster and total waste of time if they lack these features that'll help it useful.

Bitcoin's mission, which is very clearly stated in the title and first sentence of the white paper is to provide "peer-to-peer electronic cash."

Providing a decentralized, peer-to-peer, electronic cash system with a limited supply is revolutionary.  Stuffing that system with fungible and non-fungible tokens is a waste of the most revolutionary tech to be developed in our time.

When it costs $5 to send $10 worth of Bitcoin it is not functional as a currency. Increasing the congestion on the network with ordinals and runes is only increasing the cost per transaction making it less viable as a form of cash.

By adding additional payload onto the transaction you are making it slower and making the network less efficient when what we should be doing is making the network more efficient in order to make Bitcoin more usable as electronic cash.

If you want to exchange files or fungible tokens create a network outside of bitcoin that is designed and has the purpose of providing fungible and non-fungible tokens and data.  Of course those already exist on centralized networks.