Topic: Charles Hoskinson's Take on Bitcoin - page 2. (Read 327 times)

Very well said.
 
Everyone has a right to hold their opinions and just like Elon, Warren Buffet, Jack Dorsey, you and me etc we all have our opinions on the subject of bitcoin, though not all are correct but the greatest revealer is time, and time will surely tell whose opinion was correct.

There is no argument there, Taproot is already here and upgraded already. Whether it's late or not, the word and the Bitcoin community constantly grow. If the Taproot nor the ability for BTC to have smart contract functionality had been decided earlier, Charles might not be able to come up with Cardano. I think the update was still in the right moment now that there is the need for a bit of privacy.

I think it would be fair to say that there are cryptocurrencies that carry out different functions. For instance, if you want to make a fast profit on short-term trading - the shitcoins can be the best options, and for a store of value there are other options, and yes, they can be better than Bitcoin. But let's not forget that is supposed to be a network, a currency, but not an asset and means of becoming rich. This just comes out as an additional function, a bonus in some cases. And criticizing Bitcoin for not being what it is supposed to be is kind of weird.
And what advancements is he talking about anyway, when Cardano runs on a PoS consensus algorithm, which can pose some big potential problems in the future.

I don't see anything wrong with his opinions. They show his preferences and they are not based in ignorance. Personally, I'm not bothered by the educated opinions of others. I feel no need to defend Bitcoin, except to dispel the myths and misconceptions.

Bitcoin may become the most important invention in the 21st century, or it may fade into obscurity or be reduced to nostalgia. People that pin their hopes and dreams on Bitcoin are missing the point.

For those of you who listen/watch the Lex Fridman Podcast, he just uploaded an episode where he interviews Charles Hoskinson, the founder of Cardano (ADA).

If you fast-forward the podcast to 1:38:50 Charles begins to discuss his issues with Bitcoin and what he finds to be the "problems" with Bitcoin. Initially, this really excited me because I love a good argument against Bitcoin from one of the cryptospace's most popular. While I was hoping for a unique, fresh take on Bitcoin's issues, I ended up getting the same progressive response aimed at Bitcoin's lack of "improvement". This turned out to be the same regurgitation of words mixed with some clever verbiage, which I found boring put quite frankly.

He sites that the community has become a religion to the maximalists, resistant to change in any meaningful way. He talks about how Taproot should have happened a long time ago and is shocked at how long it takes this community to produce upgrades for a system that is already so far behind. He argues that a currency with a single-use-case scenario (Bitcoin) will eventually be left in the dust to more ambitious projects that aim to solve more problems. Brushing off the fact that Bitcoin is the strongest reserve currency in crypto or the world.

I expected a little more respect for Bitcoin from Hoskinson. I really thought someone of his mental stature would see that Bitcoins single purpose is its only needed purpose. Being a store of value is far more than enough. While the institution of Smart Contract Platforms will inevitably grow and explode in the years to come, you are simply not able to rule out Bitcoin in any way, shape, or form.

Go visit his Podcast's page and listen for yourself because there is much more that he talks about that you all may find quite interesting. Let me know what you guys think.