Topic: Why Bitcoin? - page 3. (Read 4342 times)

At the first glance I know bitcoin, it has a lowest fee for a transaction. Unlike fiat currency, it require quite big fee.
It also has a fast transaction if we pay for high priority. If many world using bitcoin as default currency, everyone will be more easy & faster to spending some money

I wouldn't chose bitcoin if i wouldn't know it. But i know it, and everytime im traveling, im angry that i can't buy drink on every airport in the world with bitcoin and my smarthphone. I must change money in each country and pay many fees and get so much trouble.

Missed it. Now loved the comparison 

Indeed. If an individual is capable of delivering quality content/bug fixes/features to the protocol it will get implemented. The open source is open to anyone to try.

Not really, I don't think there are that many questions in this thread.
You seem to be very selective in your replies and haven't address most of the things from my last 2 posts.


That's not what I meant.

You call Bitcoin centralised because of "only 5 core devs", while there's absolutely nothing stopping you from being the dev yourself. You don't need anyone's permission. If you have knowledge/skills and can use arguments to convince others to your ideas you could have more influence then those 5.

As for now, you sound like complaining about 'water being too wet'.

probably because there are so many questions in this thread (well including people answering a question with a question).

anyways whats stoping me becoming an influential/valuable dev, if you mean in bitcoin; lack of faith in bitcoin. not from the first day i used bitcoin  (many years ago) have considered it even remotely likely to ever become a useful alternative to fiat.

as for dev of something i see promising in the future, be happy too.

Yeah, like its been said before, bitcoin is the equivalent of gold. Slow (10 minute blocks). Weird emission (block halvings). Wonky distribution.

And at some point it becomes all about the infrastructure. You got nodes and mining equipment in bunkers in mountains all over the world and in satellites circling the earth? Thats probably the network thats the most secure

Because decentralization is the future of a healthy ecosystem. It will help in every aspect of society from agriculture the finance. Bitcoin is the finance part.

Do you mind sharing? I mean that better one.

IMO bitcoin will live and stay the first and the most.., but I also consider Nxt and Cryptonote coins promising.   

Source?
Knowing how carefully he states his opinions I find it hard to imagine him saying "I (we) can do whatever I want with Bitcoin".
Sounds like you've taken it out of context.

Have you followed any technical discussion about possible changes? I've seen a few and I've seen Gavin compromising on his original proposals.

What about 20mb block limit proposal? Majority (that participated in discussion) seems to agree (to the general idea of lifting current limit), but it doesn't look like it will be an easy thing to do and will likely end up with 2 alternative forks.

So where's that power?

Also, you didn't answer my question:
That's not a problem exclusive to Bitcoin. That's wider, social problem. It's the same for every crypto.

Luckily as per "3)" in most cases: better Bitcoin=higher value=potential fiat gain.


Yes. Easily. Majority will put their trust into other devs.

And what's the desired number of core devs (or other model) in your opinion?

you know that coin can be bitcoin 2.0... don't forget that bitcoin isn't complete, it offer all new things to be explored and upgraded, into something even better

bitcoin has potentially that's why you should choose it, while fiat is being controlled by greedy banks/gov, and there is no future for it, is an old "dying technology"

another thing why i prefer bitcoin, is that you can't just "print more"

Sure they could change the code to anything they liked - but in reality, it is only relevant if the whole community agrees and updates to this new version. If not, for all major changes (ie. adjusting the supply limit) all you would do is create a fork between the people using the older Bitcoin Core and the newer one.

Most of the big changes would cause a price collapse (I can't think of a major change that would be agreed upon which would cause a price increase) - which would inspire the mass of Bitcoin users to reject a new update. On that point I do agree - most are motivated by financial gain rather than coin itself, but luckily so far these are fairly aligned.

It would go on with new devs - maybe worse off but not dead. Reminds me of the Truecrypt project that packed up and instead got taken up by a number of different groups of devs.

Bitcoin IS crypto. Bitcoin is the the main matrix. Crypto will be a success, therefore Bitcoin will be a success. Connect the dots and realize this objective fact.

Why Bitcoin?

Because it serves as an alternative to the failing ever inflating fiat based currencies around the globe.  Ever hear of "The Grexit" or the Russian Ruble?

Why Bitcoin?

Because it allows you not to wait a few days for a major high value wire transfer, transaction, payment to clear from a bank or creditor and avoid exorbitant fees.

Why Bitcoin?

Because you're sick of annual fees, hidden fees, merchant fees, checking and savings fees, interest fees, late fees, maintenance fees.  All you see with Bitcoin is a nominal miner's transaction fee, but if you're transacting hundreds or thousands of dollars worth of Bitcoin and can't afford a few pennies, I don't know what to tell you...

Sorry but I beg to disagree on this one.

Being a bitcoiner doesn't mean you should mine--same as using fiat. There are no strict prerequisites before using money afaik, same with bitcoin. Do you need to be one of the producers of these paper bills that they're handing out before you could use it or be one of the users of it? I think not. Being a bitcoiner doesn't mean you should mine to be called as one; using the coin alone means that you can be called as a bitcoiner. If what you are talking about is the case, then I shouldn't be called a bitcoiner because I don't mine and I do not have the means to.

It also got biggest network, number of users, adoption rate and nice name. But being first is huge in this case. We're not talking about first grocery store in town, which have a big advantage of being first, but can easily lose it's position to competitors with better prices and better services.

Current bitcoin users cannot switch to other (currently best) coin without turning whole cryptocurrency 'industry' into big joke. If everyone jumped from coin A to better coin B, then no one in the right mind would keep any significant amount of $ (equivalent) in coin B, as there'll be a risk (or even certainty) that someone will launch "new and improved" coin C and everyone will jump on that.

Bitcoin doesn't have to be the best (whatever that means) it has to be "good enough".

And the bottom line is, Bitcoin is not un-changeable. If there's ever new protocol, or improvement invented and everyone (or vast majority) agree is better than the current one, you could switch Bitcoin to that. With the biggest network and user base, that scenario seems more likely to happen than other crypto taking over.


How do those 5 devs control the code? What do you think will happen if they tried to force the fork that no one else agrees with? They would made themselves irrelevant pretty quickly.

You're not happy with "5"? What's the right number? 7? 20? 1000? No devs at all?

What/who is stopping you from becoming influential/valuable dev?

TBF backing the dev is was probably the most useful thing they ever did.


And how's that bad? Have they stolen your ability to control your coins? If not, what's the problem? You don't want to use BTC because people/institutions you don't like also have interest in it? Bad news, pick whatever crypto you want, but as soon as it's successful you'll have VC investors and financial institutions all over it.

well yes i kinda do get the feeling bitcoin is a dead end road, i like the idea of a decentralised p2p currency, definitely.

i think if you read up about bitcoin and the theories and the hype from the core crypto nerds and the would be new world bankers with vc backing, there's a bit of an initial wow, great concept.

then you try to use it, investigate a little more how it solves some of the problems it tries to address, then the sparkle goes a way.

i think fiat certainly aint the way forward, and the current system is kept alive because of the fear of what would happen (at this point in time) if the system failed.

i think we should certainly investigate better ways to solve many of the flaws in bitcoin.

the alt community should be doing this but the crypto faithful in it are too stuck in how bitcoin does it mindset, and have a tendency to further complicate the solutions, and the not so faithful flood it with get rich quick scamcoins.

Bitcoin is a very sophisticated technology. With bitcoin, we can transact very fast and safe. And also, can earn income from bitcoin

There are no real non-fiat alternatives to Bitcoin at this time.