dylkil

do you have metamask installed?

When bitcoin launched there were no non-mining nodes, every node was a mining node. "Node" in the whitepaper refers to what we know today as mining nodes. You are suggesting that the task of relaying blocks falls solely on non-mining nodes, when this isnt true. Mining nodes carry out the same roles as non mining nodes when it comes to relaying/propagation. Every node within the network, whether it be mining or non-mining, pass blocks they receive to their peers.

Remove the non-mining nodes from the network and the node count goes down, but the network security stays the same. Non mining nodes do nothing for the security of the bitcoin network.

Having more non mining nodes to store and relay blocks is beneficial to decentralization, but they have no influence over which chain becomes the longest chain.

Increase the block size limit was really just a 1 line change, a single variable within bitcoin core controlled it. Instead of changing this variable from a 1 to a 2 they chose the convoluted mess that was segwit. What was so wrong with increasing the block size limit the normal way?

if a non mining node decides a block is invalid it will fork onto its own chain. If no mining nodes start mining on this forked chain then the original node is left on a chain where no transactions can be processed.

Non-mining nodes have no power or influence over the networks state. It is the mining nodes who decide which chain lives and which chain dies.

Yes id agree with you there, many dont though.

Why not increase the block size limit then?

>The claim that BTC chose a non-scalable solution for ease of running a node isn't true.

Except that it is true. There were few reasons for not increasing the block size limit, one of those was the cost of running a node. If the costs became too much for normal people to afford, it would centralize the system in a small number of big miners.

Its more like PvE system

>But during the same period, total issued Tethers increased by almost $5.4 billion — going from $4.6B to $10B

>The implication was shocking: there weren’t nearly enough dollars in all the domestic banks in the Bahamas to >back the Tethers that were floating around in the crypto market.

Doesn't match up with whats shown here[1], Bahamas banks are holding 110bn in customer deposits.

[1]https://stats.bis.org/statx/srs/tseries/LBS_D_PUB/Q:S:L:A:US...

So stacks is a separate network with its own consensus layer where a random miner from the bitcoin main chain is selected to write the next block, have i got that right?

What happens when they write something the rest of the stacks network disagrees with?

what use are my encrypted messages to them?

Its end to end encrypted chat. They could store the encrypted messages sure. I think the biggest fear people should have with signal is the client side encryption.

Signal is open source, you and anyone else can inspect the code. You can then build it from source and install on your android directly avoiding the play store.

I havent brushed off crypto, most of my time is just invested in ethereum now rather than bitcoin.

>but in my experience it has turned into a religion

Bitcoin is very much a religion at this stage. The network is constrained to a maximum of 350k(!!) txs per day, with the layer 2 solutions failing to gather any sort of traction whatsoever. Yet the bitcoin zealots herald it as the future of finance. How in gods name is 350k txs per day going to handle global finance.

the limitations have been researched extensively outside of the echo chamber of bitcoin development. It is possible to scale a utxo system like bitcoins to hundreds of millions of txs per day. Xthinner[1] can compress blocksizes by 99%, but bitcoin devs have ignored this with handywavy arguments.

[1]https://github.com/jtoomim/xthinner-spec

>that allow bitcoin to remain secure in the long term when block subsidy becomes insignificant.

this line of reasoning is silly. To match the current block subsidy with the current block size limit when miner subsidy runs out the average transaction fee will need to be >$127.

$45mil daily revenue / 350,000 txs per day

OR, you could increase the block size limit to 10mb, allowing 3.5mil txs per day, or 100mb allowing 35mil txs per day. Then the average fee paid per tx is significant lower.

The reason this was argued against by blockstream was because a bigger blocksize means more storage is needed by the miner and more txs means better hardware and bandwidth to process them, effectively pricing out normal people from running full nodes.

Essentially, the ability for normal people to send a transaction cheaply is being sacrificed so that normal people can setup a full node. Counter intuitive imo.

>Bitcoin's narrative has had to morph from "digital currency" to "digital gold".

This narrative was an intentional morphing by various actors within the space (Blockstream) who believed raising the blocksize to allow higher throughput would cause 'centralisation'. Instead they want people to use layer 2 solutions such as blockstreams own federated product Liquid.

raw experience

not everyone is going to have wifi interference either

have you tried https://roamresearch.com/

just use an ethernet cable and youll have no wifi interference

we've taken back control!!1! /s

>There are all pyramid schemes

Do you include ethereum here? if so you are woefully misinformed.

>Hospitals are paid extra if the primary cause of death is listed as Covid.

such nonsense

There are currently projects on ethereum which implement indices in a decentralised fashion. Take a look at PieDAO [1] if you are interested. Included assets, their weights and all indices are governed by the DAO [2].

[1]https://www.piedao.org/ [2]https://www.investopedia.com/news/daos-and-potential-ownerle...

disappointing response for this one https://remove-js.com/https://remove-js.com

>Everyone just seems to want to use it like gold, to store wealth or speculate with.

Except ethereum has a decentralized composable financial ecosystem gaining traction as we speak with over $15b locked up.

[1]https://blog.coinbase.com/a-beginners-guide-to-decentralized... [2]https://defipulse.com/

the other suppliers will catch up eventually