/biz/ - Business & Finance

>>21185832
The separation of power between miners, node operators, service providers, developers, etc.

In a capped throughput PoW you ensure the regular users can decide which consensus to follow. (running your personal node)
The vision is 2nd layers become more efficient in time.
The other options PoS or uncapped PoW you centralize and you can never turn that back.
Once personal node operators become priced out the future of the network is in the hands of commercial/government parties.
That throws the game theory of this entire thing out of wack and we end up with the same problems we have now with corporations and governments.

Look at the 2017 fork debate as a reference.
There was a closed door agreement called the NYA signed by 90% of service providers and miners signalling S2X.
The users were able to signal a UASF and scare the miners and service providers away from forking the network.

Something like this would never happen on ETH or something with PoS/unlimited throughput PoW

Anon who posted this (thread died before I could respond) or anyone else, could you explain these correlations with china vs us backed exchanges and this chart in general?

Everything else is bloated and centrally controlled by the big business interests operating in the space.

>>18887858
Daily reminder BLOCKSTREAM is stronger than this entire industry
FORGET about the users

OK.

>didn't work out as vitalik had hoped

>>18539980
I think bitcoin just has to operate as gold, and all the financial tools and instruments can be built on top of it.
First by coinbases, then by blue wallets which is like a hybrid of custodial for lightning network so the customer has ease of use, and blue can optimize channels, and non custodial for the main net.
Then eventually when things are built out everything will be non custodial, it just takes time to develop and gather data points to maximize efficiency.

If you think about the essence of money you had shells, rocks, glass, etc.
Then when the world basically had everything figured out they settled on gold.
Then gold went into a custodial setting to create advanced financial products.
Then the custodial issue of gold caused it to not remain true, which was the entire point of using gold in the first place.
When Nixon went off the gold standard it created a clown economy where items didn't need to last decades because so much growth we need a product and we need it now!!!!!!

There's a trinity of money that needs it to remain in balance
You need the gold the miners the unit of measurement, you need the banks the financiers the experts, and you need the producers in the economy.
The banks replaced the gold and took it upon themselves to fill that role.
They are ruining the producers now because they have rigged the game.
When the banks mess with interest rates to keep job rates up, stagnant industries survive decades longer than they should have.
It's why technology hasn't moved much since the late 70s 80s 90s
we're using the a lot of the same companies and financial products that should have gone bankrupt in 2008!

bitcoin replaces the trinity and puts the power back in the hands of the producers.
I need to write this out formally, but as moore's law slows mining is going to create an inverse heat equation and chips will be dirt cheap.
everyone will probably have miners in their house heating their water, and have a node at their house

>>18433459
>Do the Purests have any power??
Yeah we run nodes dummy
Our sovereignty creates a free market which attracts the most efficient producers.

Bitcoin is the only decentralized consensus

>>18354881

>>18335120
bitcoin is liberation

>>17059216
>>17059237
>>17059241
>>17059249
paid shills aren't even trying anymore

>>16972677
no taxation without representation!

greg is a respected developer and good person

>>16842877

>>16842541
I'm just repeating what I've heard
the idea that if ETH does go to PoS it'll be a disaster because nobody runs their own node
what do you think will happen when the biggest service providers want to change the consensus
on ETH you won't be able to reject it
so it boils down to corporations controlling the consensus and whatever rules they want to apply to the network

he's probably working on bitcoin code
the schnorr taproot softfork is in final dev review

>>16808422

>>16801191

>>16778475
another S2X shill
don't believe their lies

OP is a shill from the S2X coalition
don't believe his lies

don't you care about the 14 words?

>>16758907
we must have a peaceful revolution and win with debates and logic and build a brighter future than what globohomo is selling
satoshi was anonymous and you can't attack bitcoin by attack his personal flaws
the idea is greater than the individual