211–220 of 293 posts
"...Bitcoin is a living, breathing, developing code base that is moving forward with new features to continue to scale..." There is exactly zero progress to make it scale in the last 10+ years.
Disclaimer: I'm involved.
"...Bitcoin is a living, breathing, developing code base that is moving forward with new features to continue to scale..." There is exactly zero progress to make it scale in the last 10+ years.
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The protocol remains the original and it scales significantly. I'd focus on protocol not people. If people changed the protocol then it's no longer bitcoin. Twetch.app has more than 50k users. It's also a genuine use case. So is etched.page or the other above-mentioned services. How can you abuse storage if there is a 0.5 satoshis/byte fee to write data on chain currently? Miners are for-profit entities and will alwa…
> I'd focus on protocol not people. The protocol encompasses the nodes on the network. If the network is highly centralized the protocol is unsafe.
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"If you want something done quickly, give it to the busiest person."
“I choose a lazy person to do a hard job. Because a lazy person will find an easy way to do it.” ― Bill Gates
-- Patches O'Houlihan
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This is interesting. Obviously, I heard about the whole "El Salvador something something Bitcoin" deal, but am completely unaware of the actual situation. Can somebody point me in the direction of some nice writeup explaining these details? I can only vaguely imagine how one can take Bitcoin and make it essentially an extension of SWIFT, and struggle to clearly visualize what the implications of this are.
From Strike CEO Jack Maller [1]: Let’s walk through a user story. I want to send $1,000 to a friend of mine in El Salvador: * When I initiate the $1,000 payment, Strike debits my existing USD balance. * Strike then automatically converts my $1,000 to bitcoins ready for use in its infrastructure using its real-time automated risk management and trading infrastructure. * Strike then moves the bitcoins across the Gulf o…
edit: looked it up, still looks like a total scam. I hope El Salvador is able to get through this without getting screwed and I guess I'll assume Strike (first time I've heard of it) is just as shady until I hear otherwise:
https://coingeek.com/crypto-crime-cartel-tether-using-its-st...
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So-called heretics have been scaling Bitcoin in spite of BTC's braindead decisions. Last week, 50K TPS were demonstrated publicly on Bitcoin SV: https://www.youtube.com/watch?v=i3As9-9uSXs . More privately.
That's just a lab demo of a single system, not the network or even a common node configuration.
Implementing things from scratch is probably the ultimate test of thorough understanding. Chapeau! On another note I am amused that Mr. Karphathys name describes exactly what he is doing in his day job.
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Why ask that useless question?
Pointing out that something is useless isn't useless in itself. You can take it down a nihilistic path by claiming that it is in fact useless, but that argument just spins in circles forever because it applies to itself.