I don’t care about the merits of bitcoin, but these simplistic crude and inaccurate legislation attempts are fundamentally market distorting and inefficient and restrict our rights.
[Spoiler: it's more than 30 years just for onboarding, for those who are curious. For the unaffiliated bystanders, next time you hear "Lightning network solves all issues, layer 2!" chant from the cult, remember that Bitcoin is still a tired old database at the bottom of it that is still looking for a problem to solve.]
Spoiler: eltoo & an upgrade with SIGHASH_ANYPREVOUT along with channel factories seems perfectly capable.
But it will NEVER work for everyone.
> you want to discount it cause it can't immediately onboard the entirety of humanity within an arbitrarily short timeframe is
The "arbitrarily short" timeframe is 30 years. That seems kinda long to me. But then again I keep hearing "We're still early!" after 13 years of Bitcoin, so maybe you guys are targeting sometimes next century, in which case, my apologies.
Oh, and also, it's not _just_ to onboard, it's the first transaction. Anytime you want to settle, close a channel, create a new one, it's the same congestion. Unless you propose people initiate a channel for their newborn so the kid can eventually start using lightning when they get their third real job at 30? That _could_ work, hmm.
> there certainly will be a protocol capable of achieving that absurd high bar for a trust-less blockchain
"My project is gonna be working by the time for the final! I swear!" stopped working for me when I graduated high school and entered what some may call the real life. Seems cute that it's still alive and well in the crypto fantasy land to judge things by the publicity pieces instead of what they actually are.
Anyway, I'm not nitpicking. I'm punching holes through your tired arguments about an inefficient database and how it's the savior of humanity (just to pump up your coinz.)
To all knee deep bitcoiner, please understand that your future of finance wet dream doesn't actually ever scale to 1% of what's needed, stop burning fossil fuel, and find a new hobby, ffs.
> future of finance wet dream doesn't actually ever scale to 1% of what's needed, stop burning fossil fuel, and find a new hobby, ffs
This just seems needlessly vitriolic rather than a substantive argument.
I gave you a protocol that doesn't "take 30 years" and you say it's a pipe dream.
That brings quite a value. Without anti-fraud measures, you wouldn't have a monetary system.
"We also are making our operations more sustainable – including achieving carbon neutrality and procuring 100% renewable electricity in 2019, a year ahead of schedule."
Drastically lower than Bitcoin if this is anything to go by. So low you might as well put BofA into a fossil fuel burn limbo contest.
Given that result took less than three seconds of searching, I'm wondering if you have an ulterior motive in targeting BofA specifically.