Topic: Bitcoin feels like a Western-type Democracy... - page 3. (Read 442 times)

You definitely can't distinguish between Bitcoin and Altcoins (Cryptocurrency), there is no monkey jpegs in BTC even tho Bitcoin blockchain can be used to make NFT, but most of the time it was used for .btc domain. Bitcoin is very different with any democracy that exist today, most of the democracy nowadays are still very centralized all the policies executed and made by central entity, this means that all the policies need to secure the interest of the entity, while bitcoin is ture decentralized everything that is happened and is going to happened is because the market and community. What you are describing is centralized altcoin and we know most of the bitcoin enthusiast is against that centralization used of blockchain

A Western-type Democracy is associated with liberal principles (freedom of movement, freedom of capital etc.)

BTC is kinda the same... you're free to transact as you wish (within BTC's mainnet rules) and there's an expectation of zero censorship.

The problem with Western-type Democracy is that it's very easy to hijack it: you can flood it with illegal immigrants (see: USA/Europe) and nobody can do anything about it.

BTC is kinda the same... you can flood the network with monkey jpegs and nobody can do anything about it, because there's this expectation of zero censorship.

Trying to censor transactions feels like adopting totalitarian regimes' principles, even if it's for a good purpose (banning Ordinals/NFTs).

Neither West, nor BTC are perfect, that's pretty much obvious to everyone.

I'm afraid some people might be right that there's a conspiracy going on (BlackRock might be trying to flood the network before ETF's approval with ORDI/NFTs raising the fees to absurd levels).

No, I don't have any proof, it's just a thought and I sincerely hope I'm wrong, because if I'm right, then it doesn't sound too good for Bitcoin's future (they will push everyone to custodial solutions with KYC, since very few people will be able to open Lightning channels).

Back in May I had written a FB post about how in the future you will have to pay $1000* for an on-chain transaction. BTC mainnet will basically become a settlement network for banks. The Average Joe will be forced to use CEX or Lightning (if he's lucky enough to have a channel already).

* this could also happen if BTC is worth millions of dollars one day

CBDC will bring back the Gold standard. CBDC will be backed by BTC.

Do I have a solution in mind that doesn't have drawbacks? No, I don't. Both big blocks and Lightning have serious drawbacks.

Just thought I'd make a West/BTC analogy... you don't have to attack me for it. This isn't a thread to discuss illegal immigration.