/biz/ - Business & Finance

>>24854366
Normies are coming again...

bullish ofc ill get to dump my bags on normies

>>24854366
kek WTF?
this is a troll right?

>implying anyone still cares about snowden
I mean besides glowniggers of course

>>24854557
Some ppl just hate money. :(

>>24854557
Well bitcoin has been compromised by the elite since 2015, so they are somewhat right. They are using the 1mb limit to move everything off chain into things like PayPal, Square etc, where they can control and track everything you do. Lightning was a distraction.

>>24854557
Poster is woman. All women are whores.
Ofc its a troll

>>24854366
looks like Snowden needs to wear a HEV suit and carry a crowbar

>>24854366
Snowden is based. He openly said he was buying bitcoin on the corona crash. Search for it. He bought the bottom

>>24854366
>>24854557
Snowden is a BIZ oldfag

https://twitter.com/snowden/status/1187892280906137602

>>24854557
>this is a troll right?

No just a boomer retard.

>>24854816
block increase for the first blockchain is the biggest attack vector.

All other coins can increase blocksize but allowing it in btc is a massive attack vector having bitcoin become the reserve currency for the other cryptos is good enough.

It does not has to be a global currency, just bretton woods bancor on steroids.

>>24854821
That's the name of the video game character in his avatar. No woman is gonna say some stupid shit about the great reset, that's too autistic.

>>24856039
Tricked by the trannies again.
Gotta stop falling for it

>>24855975
Not scaling is a bigger attack vector for TPTB to take advantage of. Makes the blockchain meaningless and then the whole thing will crumble in on itself eventually. When everyone's BTC is stored on centralized services, then welcome to fractional reserve banking 2.0, where the supply can be made up and the blockchain abandoned.

If there was some scaling plan, then everyone would still be using the blockchain for their transactions, making it harder to change course from decentralization.

There is no in between for bitcoin. It's either taking over the world or worthless.

>>24856389
Making blocks bigger isn't scaling. lnmarkets.com

>>24856563
>Scaling isn't scaling

-Sent from my 512gb iPhone which would have been 16gb a few years ago. But that's not scaling either.

And lightning is not bitcoin. It's a failed layer 2 project that depends on the scaling of layer 1 to work properly.

>>24854366
Snowden has been on bitcoin for years. Bullish.

>>24854557
>opinion of a woman
Women's legitimacy lies only in knowing how to keep a house in good order, prepare good nutritious meals and take care of babies. This is their natural role, everything else is unnatural and therefore deeply anti-social.

>>24855975
This

>>24856679
>But that's not scaling either.
No. The word has specific meaning in this context, meaning which you have no grasp on yet act like you're an expert. Have you ever scaled a software system? There are specialists that exclusively focus on scaling and if they just 10x the load a project can handle they didn't do their job, the project still doesn't scale.

>>24854366
Bitcoin enables money laundering, human trafficking and requires 7 nuclear power plants to sustain.

>>24856987
>Have you ever scaled a software system?
Yes and it involves increasing variables that have become bottlenecks, among other things.

>>24857075
>Bitcoin enables money laundering, human trafficking and requires 7 nuclear power plants to sustain.

Now this is glowing

>>24857208
You know what else is glowing? All the miners around the world that generate more heat than the sun itself

>>24854366
HAHAHA They're so desperate for people to pile in before the cyber pandemic

>>24857141
You're a liar, you never scaled anything. Either the system scales or it doesn't. A 10x increase is just a 10x increase. The demand for transactions is infinite so the only thing a 10x tps increase accomplishes is a few months of cheaper transactions that creates an expectation from clients that ends up not being fulfilled and compromises security. This has all been tested thoroughly, it's not a debate but reality as objectively tested. It was a debate in 2012 before the results were in but not anymore.
>>24857334
My local miners are creating economic output that would otherwise be wasted. The water flow the hydro plants are using still flows either way, thanks to miners more water goes through the turbines and that energy secures the worlds financial system.
>>24857208
Snowden is probably a limited hangout. These could still be his personal opinions or perhaps the glowniggers like BTC now.

>>24857798
No you are just driving the price of electricity up with your inefficient and slow blockchain. If hydro plants produced so much why did china pull the plug on miners? Why didn't the chinese government start mining bitcoin if it's so profitable and good for the system? They have a lot of dams so electricity shouldn't be a problem

>>24858111
I know my economic situation not why China does what it does. I can't transport my excess energy to consumers but I have enough to run several small countries. The most popular option so far has been using the energy to smelt aluminum which requires huge industrial plants with associated pollution.
Inefficient energy producers can't compete in mining with areas that have excess green energy.

>>24857798
So if the blocksize was 500 bytes and we could only fit 1 transaction in a block, would you still see no reason to scale? What makes 1mb the perfect number to you?

>A 10x increase is just a 10x increase.

Uh yeah. Increased throughput is scaling. What are you getting at? It compounds with other scaling efforts. It's not the only solution, but it is a necessary one.

>compromises security

Nope. It increases the network effect and gives a reason for people and businesses using the network to run a node.

>This has all been tested thoroughly

As far as I'm aware, the only chains that have tested scaling in production environments are BCH and BSV. Link me to these BTC tests where they tried scaling on chain with thousands of nodes.

>>24854366
I always thought that Snowden was a CIA asset and part of a struggle for control with the NSA
So does this mean the CIA secretly helped develop bitcoin? Or it's just his own opinion? I don't know any more
Still buying bitcoin

How long till Snowden tweets: "one word: Chainlink"?

>>24858709
>Increased throughput is scaling
NO. It's increased throughput.
With the latest update we can in theory fit a lot of transactions in even 500 bytes. The smaller we can get it the more robust the system is in every way but especially when it comes to disaster resistance. We can currently broadcast the blocks through radio and satellites, that's a good place to work from. Desperately trying to make coffee purchases trustless is retarded, especially when people except coffee payment services to service them with things like fraud insurance, not be a direct interface to a protocol they don't understand.

>>24858848
Too soon anon, wait til next year.

>>24857075
> all of these things were not possible before crypto
Ahahahaha

>>24858843
They're just getting all their assets to shill Bitcoin so everyone dumps their wealth into it before it crashes during the internet killswitch

>>24859184
Bitcoin + tor just makes it easier and faster

>>24859115
>With the latest update we can in theory fit a lot of transactions in even 500 bytes.
Do you have more info? I would be interested in this.

>>24857334
Holy shit you are retarded.

>>24857075
Proof of Stake doesn't require expensive computation or electricity.
Bitcoin will remain as a store of value with few transactions, there won't be nearly as much incentive for mining.
Proof of Stake will take over soon.
ETH went up practically 1:1 with BTC

>>24859246
Taproot. Multiple signatures can be joined in certain conditions. Client software will be able to arrange it so users opening LN channels are all connected in one transaction per block.
The more effective this kind of thing turns out to be the more it becomes a question of reducing block sizes and block times instead of increasing block sizes.

>>24855903

I wonder if he's posting among us at this very moment bros...

>>24859779
>Taproot.
I have read about this before but don't see how it can "fit a lot of transactions in even 500 bytes".

Reducing block times would be very controversial as it would require a hard fork.

>>24859813
He probably is.

>>24854557
>Anime profile pic
Retard, start ignoring them.

>>24859813
>>24860224
Sup guys it’s me Eddie

>>24860632
Hi Eddie keep being based.

>>24860063
https://medium.com/interdax/what-is-taproot-and-how-will-it-benefit-bitcoin-5c8944eed8da
In one of the examples "Alice" can add as many recipients as she wants without increasing the byte size. These are the most basic examples but the principle will be extended. You can add together many signatures and scripts without increasing the byte size of the data as much as you would think and because your key only decodes your relevant data the information can be private even though the data is public.

>>24860632