| submitted by /u/snappyTertle
Our first duty is to protect and defend forever bitcoin ecosystem and bitcoin network. The sole principle of existence and the future is this. This principle is your most valuable treasure. Also even in the future, there will be internal and external enemies who will want to deprive you of this treasure. One day if you are obliged to defend Bitcoin and the network, you will not think of the circumstances, opportunities and conditions in which you will be found in order to begin your duties…
If you peruse the various subreddits on the subject of crypto you'll see incredible frustration among the various communities behind other coins. Faster transactions, more transactions, larger blocks, faster blocks, turing completeness, confidential transactions – yet the price of bitcoin keeps going up without these.
Because bitcoin, at this stage in history, isn't about any of those things. Bitcoin is a system that can be used to reliably store value at no cost. Scarcity and security are the keys to value and you don't need any of those other features. And nobody has suggested any way at all to improve on these features of bitcoin.
So bitcoin keeps on winning on value and becomes the fastest growing way to store value. And of course, its value skyrockets as more value is crammed into it.
When the time comes to go from savings to spending, the competitive landscape will be very different. But you can't spend what you haven't earned and saved, and all of today's alternatives to bitcoin will have failed at earning the position of a savings vehicle.
A fresh major security hack has seen the phone records of “almost every Malaysian” go on sale for just one Bitcoin. In what Reuters describes as “one …
Google Alert – bitcoin
I originally put a post up with a picture that was very revealing of my job, I don’t want any lawsuits so I removed it. But I will be quitting at the end of this year due to my CEO’s comments.
Willy Woo, a highly regarded Bitcoin and cryptocurrency researcher, recently revealed that the number of Bitcoin users approximately doubles every …
Google Alert – bitcoin
The post Woo’s Law: Bitcoin Users Double Every 12 Months; Major Factor For Long-Term Price Surge? appeared first on CryptoCoinsNews.
This is what "big blocks introduce centralization" mean. When we scale to VISA levels, blockchain would grow 78 TB/Year. Not even mentioning what kind of hardware (besides storage) will be needed to confirm all those transactions. BCH developers couldn't see 2 weeks into the future when they coded in EDA. No suprise they are failing to see couple years in. All miners want is $ $ $ from transactions, not eventual world domination of bitcoin. UASF was a great success, thank you all for making it happen!
Edit: Someone provided better data that shows VISA processed 141 billion tx in 2016. That is 4471 tx/sec! We would need 1.49 GB blocksize to process this, and it would grow blockchain by 214 GB every day, and 78 TB every year!