I believe that BitShares Music project is the most tangible effort in making this kind of platform happen.
Bitcoin for Rockstars
21–30 of 49 posts
Re: Bitcoin for Rockstars
#22Earlier quoted context omitted.
Firstly, Bitcoin does not need to scale that much to be considered widely successful. Heck, Western Union[1] averages only 10 tps, which is only 10x what Bitcoin is doing today, so such a target is clearly within reach with a 2MB block size. Secondly, Bitcoin can actually scale by many orders of magnitudes, see the math and arguments there: https://en.bitcoin.it/wiki/Scalability You need solid counterarguments to thi…
> Thirdly, Bitcoin has done 6 years in a row what critics have always said it cannot do The one thing that hasn't changed a great deal is accessibility to them. When buying, you are either subject to waiting periods, or have to conduct the transaction in cash in person. No one in their right mind will take credit cards or PayPal for them. I believe this is the major hurdle to adoption of crypto by the mainstream publ…
Circle takes credit cards for them.
Re: Bitcoin for Rockstars
#23Earlier quoted context omitted.
Firstly, Bitcoin does not need to scale that much to be considered widely successful. Heck, Western Union[1] averages only 10 tps, which is only 10x what Bitcoin is doing today, so such a target is clearly within reach with a 2MB block size. Secondly, Bitcoin can actually scale by many orders of magnitudes, see the math and arguments there: https://en.bitcoin.it/wiki/Scalability You need solid counterarguments to thi…
> Thirdly, Bitcoin has done 6 years in a row what critics have always said it cannot do The one thing that hasn't changed a great deal is accessibility to them. When buying, you are either subject to waiting periods, or have to conduct the transaction in cash in person. No one in their right mind will take credit cards or PayPal for them. I believe this is the major hurdle to adoption of crypto by the mainstream publ…
Coinbase does
Re: Bitcoin for Rockstars
#24Earlier quoted context omitted.
> Thirdly, Bitcoin has done 6 years in a row what critics have always said it cannot do The one thing that hasn't changed a great deal is accessibility to them. When buying, you are either subject to waiting periods, or have to conduct the transaction in cash in person. No one in their right mind will take credit cards or PayPal for them. I believe this is the major hurdle to adoption of crypto by the mainstream publ…
Coinbase does
Not without a several day delay.
Re: Bitcoin for Rockstars
#25The elephant in the Bitcoin room is that it simply cannot scale up to high TPS rates. If any kind of meaningful adoption actually happened, the network would keel over pretty quickly trying to globally broadcast all that data, and the blockchain would quickly balloon to unmanageable sizes. I see a lot of these articles hailing Bitcoin as the answer to some monetary injustice or other, or as the fundamental underpinni…
Firstly, Bitcoin does not need to scale that much to be considered widely successful. Heck, Western Union[1] averages only 10 tps, which is only 10x what Bitcoin is doing today, so such a target is clearly within reach with a 2MB block size. Secondly, Bitcoin can actually scale by many orders of magnitudes, see the math and arguments there: https://en.bitcoin.it/wiki/Scalability You need solid counterarguments to thi…
[deleted]
Re: Bitcoin for Rockstars
#26The elephant in the Bitcoin room is that it simply cannot scale up to high TPS rates. If any kind of meaningful adoption actually happened, the network would keel over pretty quickly trying to globally broadcast all that data, and the blockchain would quickly balloon to unmanageable sizes. I see a lot of these articles hailing Bitcoin as the answer to some monetary injustice or other, or as the fundamental underpinni…
Firstly, Bitcoin does not need to scale that much to be considered widely successful. Heck, Western Union[1] averages only 10 tps, which is only 10x what Bitcoin is doing today, so such a target is clearly within reach with a 2MB block size. Secondly, Bitcoin can actually scale by many orders of magnitudes, see the math and arguments there: https://en.bitcoin.it/wiki/Scalability You need solid counterarguments to thi…
People like to quote the scalability page and claim that Bitcoin will have no problem scaling, but I don't think they really understand what Bitcoin will look like at scale. No one is saying that it _can't_ handle howevermany txs / second. But do you want it to? That is the real question.
Right now the network has So what we know is that despite the relatively low requirements of running a node, we are bleeding them faster than we can get new ones. People claim that storage space and bandwidth getting cheaper will solve the problem. Given past performance of the node landscape, that statement does not hold weight.
So what are the consequences of all this? Well, the node landscape will centralize very quickly as the bandwidth and storage requirements far outpace what most would be willing to provide the network gratis. Universities and large payment processors will be the only ones who can afford to run full (archival) nodes. Pruning and all that will help, sure. But in order for Bitcoin to remain true to its decentralized roots, a distributed node landscape is vital. If everyone isn't validating everyone else's transactions we have a big problem (imo, of course).
Re: Bitcoin for Rockstars
#27Earlier quoted context omitted.
Firstly, Bitcoin does not need to scale that much to be considered widely successful. Heck, Western Union[1] averages only 10 tps, which is only 10x what Bitcoin is doing today, so such a target is clearly within reach with a 2MB block size. Secondly, Bitcoin can actually scale by many orders of magnitudes, see the math and arguments there: https://en.bitcoin.it/wiki/Scalability You need solid counterarguments to thi…
> Thirdly, Bitcoin has done 6 years in a row what critics have always said it cannot do The one thing that hasn't changed a great deal is accessibility to them. When buying, you are either subject to waiting periods, or have to conduct the transaction in cash in person. No one in their right mind will take credit cards or PayPal for them. I believe this is the major hurdle to adoption of crypto by the mainstream publ…
[deleted]
Re: Bitcoin for Rockstars
#28Earlier quoted context omitted.
Firstly, Bitcoin does not need to scale that much to be considered widely successful. Heck, Western Union[1] averages only 10 tps, which is only 10x what Bitcoin is doing today, so such a target is clearly within reach with a 2MB block size. Secondly, Bitcoin can actually scale by many orders of magnitudes, see the math and arguments there: https://en.bitcoin.it/wiki/Scalability You need solid counterarguments to thi…
> Thirdly, Bitcoin has done 6 years in a row what critics have always said it cannot do The one thing that hasn't changed a great deal is accessibility to them. When buying, you are either subject to waiting periods, or have to conduct the transaction in cash in person. No one in their right mind will take credit cards or PayPal for them. I believe this is the major hurdle to adoption of crypto by the mainstream publ…
> The one thing that hasn't changed a great deal is accessibility to them.
Just acquire them like you likely acquire any other currency: accept it in exchange for your labour or the goods you have to sell. That's what I do, for online math tutoring. It's just some pocket change on the side for me right now, but it's helped me buy a few Christmas gifts already.
Re: Bitcoin for Rockstars
#29Bitcoin does not solve this issue, a blockchain does. That's what the guys at Ethereum for example are trying to achieve: vanilla blockchain, build anything on top.
Counterparty could solve this, on Bitcoin's blockchain [1]: > Counterparty works by storing extra data in regular Bitcoin transactions, which makes every Counterparty transaction a Bitcoin transaction, albeit a very small one. When Counterparty transactions are broadcast to the Bitcoin network they are verified by Bitcoin miners and saved in the Bitcoin blockchain to make a secure, verifiable record. [1] http://count…
Yes, and I should have mentioned it. The fun thing about XCP is that I can use it now, unlike Ethereum.
Re: Bitcoin for Rockstars
#30Earlier quoted context omitted.
Firstly, Bitcoin does not need to scale that much to be considered widely successful. Heck, Western Union[1] averages only 10 tps, which is only 10x what Bitcoin is doing today, so such a target is clearly within reach with a 2MB block size. Secondly, Bitcoin can actually scale by many orders of magnitudes, see the math and arguments there: https://en.bitcoin.it/wiki/Scalability You need solid counterarguments to thi…
> Thirdly, Bitcoin has done 6 years in a row what critics have always said it cannot do The one thing that hasn't changed a great deal is accessibility to them. When buying, you are either subject to waiting periods, or have to conduct the transaction in cash in person. No one in their right mind will take credit cards or PayPal for them. I believe this is the major hurdle to adoption of crypto by the mainstream publ…
In Canada I can pay by debit, called an Interac eTransfer. Check out Vault of Satoshi. The funds are allocated in about an hour.