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927 points smallerfish | 1 comments | | HN request time: 0s | source
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ks2048 ◴[] No.42925530[source]
Do pro-bitcoin people still talk about goals of bitcoin being a currency that people use daily?

I don't follow it closely, but that idea seems to have faded and now it's just an asset to buy and hold while it magically goes up forever.

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zmgsabst ◴[] No.42925980[source]
Around the time of SegWit, the “digital gold” camp won over the “digital money” camp — who moved on to ETH, SOL, etc.
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jgord ◴[] No.42926237[source]
Many of us in the BC is digital money camp argued the case that more transactions and a lower transaction fee could be most easily implemented, within the spirit of the founders intent, if we simply increased the size of the transaction buffer, mitigating an obvious bottleneck.

We argued against the complexity of SegWit and Lightning Network.

I think greed and politics won rather than engineering or economics good sense - people didnt want cheaper transactions, it now costs around $15 USD per BTC transaction.

Despite the proliferation of alt-coins using essentially the same code-base, with shorter block-times and larger buffers.. and more programmability - ultimately proof-of-stake might be a better implementation of the block minting process, than proof-of-work.

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1. stevenwilkin ◴[] No.42931029[source]
It currently costs <1 USD to perform a Bitcoin transaction:

https://bitcoinfees.net/