What would Satoshi Do (today) - page 2.

maikrothaman

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Quote from: TheLastStoic on December 26, 2022, 10:18:17 PM

What would satoshis vision be today? Vision on the ecosystem be different? Cross/side chains...bridges? Or more so just very simple economy p2p txs? So no massive amounts of apps/services/games etc? There are things C does well, just like Haskell, and solidity.. I wonder if THEY would ever come to terms with interoperability. BTC, Ethereum, and Cardano (c ,solidity,haskell) have some great things coming along.

I suppose Satoshi would have study anonymous transactions. I guess he might have developed the Pandora Cash protocol because, well, digital currency should not be tracked by gov.

TheLastStoic

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Quote from: pooya87 on December 27, 2022, 03:11:16 AM

Satoshi would weep after seeing centralized shitcoins like Ethereum and Cardano with massive premines and fundamental flaws in their protocols that at the same time are being sold at high prices while they have no usage whatsoever in the real world. Wink

Not sure how they are centralized shitcoins? There are advantages to each language. Out of curiosity have you tried to build on either, including BTC?

avikz

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Quote from: Lucius on December 27, 2022, 09:32:01 AM

Regarding the slowness of transactions, if you were a beginner I wouldn't be surprised by such a comment, but if 10 minutes on average is what you call slow, that's quite fast enough for me. Of course for all those who have no idea what fee and mempool are, transactions can be really slow, but that's not a problem that should be blamed on Bitcoin.

Not at all blaming bitcoin! It is my main financial reserve and savings for the future. So there's no way I am going to blame bitcoin. But in the real world, we have multiple options available to pay instantly and without any fees (from the sender). Just do research on what IMPS is and then you will understand the level of innovation already available in today's world. Bitcoin will never be able to reach there. Bitcoin is a great reserve currency, but not as great as a method of the local transaction. For cross-border transactions, obviously, bitcoin is way ahead of the mainstream options available. That's exactly what I want to point out - centralized doesn't always mean bad things.

In the current era of speed and convenience, bitcoin doesn't stand a chance to become a preferred payment method. It's hard to admit for me as well but that doesn't change the truth!

Quote from: Lucius on December 27, 2022, 09:32:01 AM

Do you think that new xx tokens/cryptocurrencies every day have a positive impact on the crypto market? Are you one of those waiting for a new king on the throne or do you think that the resourceful and enterprising 1% should get rich at the expense of the remaining 99%? These innovations, as you call them, are nothing but a bunch of nonsense and false promises.

Oh hell no! I never wanted this mess in the market. Every single day, some nonsense tokens are getting listed in the market where people are gambling to get rich. That's nonsense! 99% of the new tokens and coins are useless, but that 1% always stands out and that's what we need to encourage.

OgNasty

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I think if satoshi were alive today he would be working on the Namecoin project. I actually think he would have made significant strides in making a decentralized experience for browsing the web and gone further to help merged mining bring along other chains with valuable additions to the community. I think he envisioned Bitcoin as a motor to help drive decentralization in other areas, but fell too I’ll to continue his work to the point where it would be embraced and built upon by the community’s survivors.

Lucius

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Quote from: avikz on December 27, 2022, 08:29:38 AM

Centralized doesn't always mean bad.

Do you mean in general or only when it comes to cryptocurrencies? I would disagree with you, whether it's about central banks or centralized cryptocurrencies.

Quote from: avikz on December 27, 2022, 08:29:38 AM

Bitcoin has many flaws as well. But it is still enjoying the highest popularity just for being the pioneer of the cryptocurrency market. Bitcoin transactions are slow. it doesn't have smart contract functionality. The block size is small and that's why we are seeing the requirement of having Segwit and LN sorts of addons.

The biggest disadvantage of Bitcoin is that it is not adapted to the extent that it is understood by the majority of the population, whose level of financial literacy generally does not go beyond taking out a plastic card from a wallet and remembering a 4-digit PIN. The greatest popularity is based on trust, which is based on decentralization, which is something that no other cryptocurrency has.

Regarding the slowness of transactions, if you were a beginner I wouldn't be surprised by such a comment, but if 10 minutes on average is what you call slow, that's quite fast enough for me. Of course for all those who have no idea what fee and mempool are, transactions can be really slow, but that's not a problem that should be blamed on Bitcoin.

Quote from: avikz on December 27, 2022, 08:29:38 AM

To be honest, no cryptocurrency is flawless. All big cryptos have their own strengths and weaknesses. Just because some cryptos are somewhat centralized, doesn't mean they are worthless. Keeping our minds open will only pave way for more innovation in crypto market and that's good in long run!

Do you think that new xx tokens/cryptocurrencies every day have a positive impact on the crypto market? Are you one of those waiting for a new king on the throne or do you think that the resourceful and enterprising 1% should get rich at the expense of the remaining 99%? These innovations, as you call them, are nothing but a bunch of nonsense and false promises.

avikz

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Quote from: pooya87 on December 27, 2022, 03:11:16 AM

Satoshi would weep after seeing centralized shitcoins like Ethereum and Cardano with massive premines and fundamental flaws in their protocols that at the same time are being sold at high prices while they have no usage whatsoever in the real world. Wink

Centralized doesn't always mean bad. Bitcoin has many flaws as well. But it is still enjoying the highest popularity just for being the pioneer of the cryptocurrency market. Bitcoin transactions are slow. it doesn't have smart contract functionality. The block size is small and that's why we are seeing the requirement of having Segwit and LN sorts of addons. To be honest, no cryptocurrency is flawless. All big cryptos have their own strengths and weaknesses. Just because some cryptos are somewhat centralized, doesn't mean they are worthless. Keeping our minds open will only pave way for more innovation in crypto market and that's good in long run!

Lucius

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Quote from: pooya87 on December 27, 2022, 03:11:16 AM

Satoshi would weep after seeing centralized shitcoins like Ethereum and Cardano with massive premines and fundamental flaws in their protocols that at the same time are being sold at high prices while they have no usage whatsoever in the real world. Wink

Exactly, because what else could a person say when he saw that people are constantly looking for a replacement for Bitcoin, and everything that was created after Bitcoin is completely contrary to his idea. However, someone as intelligent as him would surely understand what motivates people to invest in altcoins, although at the same time they know that behind all these projects there are people who put profit first.

You see, even the OP thinks that some of these projects have something big and significant in their future development projections, and after E moved to POS, no one realized how much that project went backwards, even though it was never of any real value.

Pmalek

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He surely wouldn't want Bitcoin to remain just the way he made it. The protocol is open-source allowing anyone to develop it further, build upon it, and perhaps suggest better features when they become available. Satoshi didn't create SegWit and he didn't create the Lightning Network, but they still exist and we use them. Isn't that what open-source is supposed to be about? Constant growth and development.

I'm sure he knew that others would mimic his creation and build their own coins and blockchains. But I don't think he expected they would stray so far away from the initial ideas and the pillars of what Bitcoin is. I think he would have been proud and happy if Bitcoin was the starting point to an even better digital asset of the future. Instead, it's used as the foundation to create centralized and trust-requiring solutions that are more restrictive and not censorship-resistant.

kaggie

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Bitcoin and cryptocurrencies have gone from nothing to a two-trillion dollar economy. There wouldn't be as much of a need for him to continue to develop it as an existential money problem, because there are many torch-bearers who can do a better job.

If Satoshi were alive today and not enjoying retirement, I doubt he would be interested in cryptocurrencies full-time but aim to address greater existential challenges using decentralisation. I'd think he would enjoy working with nostr, a decentralised social network that uses bitcoin cryptography methods. There are many social challenges that can be addressed with decentralised technologies like this. For example, standard political voting should incorporate cryptographic verification features, and yet I've not yet seen a solution implemented, which is an opportunity lost.

Aanuoluwatofunmi

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Nothing much needed to be done that has not been in place by him regarding bitcoin, all he needs is to maintain the security network within and maintain the value and consistency in creating adequate difference in the world economy of digital currency and sit back, relax and enjoy the fruitfulness of his labour and bitcoin invention together with the Yuletide season, he don't need to pressurize himself because for nothing becau nthe network is self susta on itself except but if he wishes to develop or bring in something new in addition to bitcoin.

pooya87

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Satoshi would weep after seeing centralized shitcoins like Ethereum and Cardano with massive premines and fundamental flaws in their protocols that at the same time are being sold at high prices while they have no usage whatsoever in the real world. Wink

mk4

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Satoshi seemed to be interested and focused on digital cash, so safe to assume he'd still be working on Bitcoin the way it is today(with probably slight differences due to existing, newer information). A better question would be if he'd contribute to DeFi protocols and smart contract cryptocurrencies or not.

Venik

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It's hard to say what he would do because we don't know who he is and don't really know his true intentions behind creating Bitcoin. It seems like a pretty pointless discussion.

cryptoaddictchie

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Probably nothing. He achieved what he wanted the world to see bitcoin as a truly decentralized method for peer to peer. Its just that the world finds it very simple and wanted more improvement and more complicated use cases in which the technology could be more useful. Many developed a lot of platform and concepts but the best one Satoshi did stand out and been employ since its creation. But as a genius like him, I think he can maybe do new things to simplify the systen he created.

Fundamentals Of

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I think Satoshi wouldn't stop working if he chose not to disappear. Bitcoin probably didn't end as it is. There will probably more innovations to make sure it fits to what the people really need and to make sure there is adoption. I don't think everything will end as a very simply economy P2P transactions. There will probably more decentralized financial innovations, probably applications also and others. One thing is for sure though, Satoshi would be developing all things decentralized. There is no fake decentralization.

dansus021

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You can check on bitcoin SV (Satoshi Vision) hahaha just joke. I think like the @libert19 only time will tell and its definitely more than just p2p, store of value, or using payment. Is more than that. But one time for sure bitcoin still gonna lead the way

libert19

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Certainly more than simple p2p transactions.

If I were to guess, he would have imagined a finance built upon cryptocurrency where one no longer need to depend on traditional finance which defi is aspiring to.

Understood, it is not perfect, and will never be. That's just how world works, that's why progress is never ending.

where this leads us? Time will tell.

TheLastStoic

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What would satoshis vision be today? Vision on the ecosystem be different? Cross/side chains...bridges? Or more so just very simple economy p2p txs? So no massive amounts of apps/services/games etc? There are things C does well, just like Haskell, and solidity.. I wonder if THEY would ever come to terms with interoperability. BTC, Ethereum, and Cardano (c ,solidity,haskell) have some great things coming along.

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