Has anyone else noticed how low the mempool is... block sizes are small as well.
I am opening LN channels for 1SAT/vByte.
And yet lightning network use is increasing parabolically.
Bitcoin is scaling.
Miners have lost nothing. Blocks continue to be found and added tot he chain. And by the time the subsidy is small fees will not longer be 1s/b.
But most people are talking about de-fi and ETH. Heh.
If it was obvious... there would be no real opportunity.
ETH will try to scale with ETH 2.0 However, if that fails then the price will fall while dragging Defi behind it. Bitcoin is just a smarter investment.
Good quote. Banks are indeed going down the Blockbuster path. The future is now.
Most of the midwits that talk about Ethereum on twitter are basically defending it with the EXACT same logic we have heard for 5+ years. That it has "features" bitcoin does not have on the base layer and therefore is capable of different things. For example:
But TINA gets it 100% right here, though he's also taking a "toxic" jab.
The thing missing from Gretta's understanding is "Why Blockchain?". The fact this is still even a topic of such widespread magnitude is MADDENING to me. Ethereum has made a fundamental design flaw. There is no reason to put the "whole world on a L1 blockchain" unless what you really want is a massively wasteful panopticon. (Certain meglomaniac sociopaths might actually find this attractive, sadly).
I do not think it is even possible for Moore's law to ever bring us to where this is a good idea either. Because as we store more data in these immutable databases the data we are storing is increasing just as the computational power to store and process them is. We will always have more data to store than easy ability to do it, and in the end the right way to DO Ethereum is for it to be run on distributed networks ANCHORED on a blockchain. Liquid is a possible other compromise here. It's fedarated model anticipates some centralization, and if Liquid is actually used that blockchain is gonna get BIIIIIG. Why store the entire data on the blockchain if you can store the hash of that data though? I suppose the argument would be to never lose that stored data. Which means the entire world "database" also has an endless undo button as it branches out ridiculously in every direction forever.
I dunno... maybe I am an idiot. George Gilder has actually sided with the lunatics (in my opinion) on this one... which actually scares me. He's a fairly brilliant bastard.