Bitcoin maximalists are so imbeciles
they are right tho
Why do they pretend that smart contracts will never be a thing?
No we are not
>smal blocks = high fees
>High fees = high hashrate
BCH that follows after has 4% of the btc hashrate and can be attacked at any moment.
LTC uses other algorithm to be safe of btc asics but would also be vulnerable in the future.
BTC problems are it's greatest strenght , want a cheap transaction?Select 1 sat and wait a week.
Want instant?Pay maintaince to the network.
I mean who would save millions on a network like bsv that can be attacked at any moment.
It's fine to use it but not to save money.
BTC will be the gold of the crypto space , ltc the silver and bch the cash.
XMR is the most suitable one to be the cash.
because of fundamental flaws within the blockchain system if you try to get real life value in. All smart-contracts, if they ever were to become a thing on the blockchain, would happen on private blockchain between private entities, which doesn't go hand to hand with the concept of decentralization that blockchain first brought.
You either buy the very fast expending digital gold or you don't. Bitcoin is the only asset, the rest will be remembered as famous scams. Just check alt-coins chart against btc, it is very obvious they are all going to 0, except maybe for holochain if they pull it off.
I can go more in depth if you want, but it is all so obvious. BTC maximalist were right 3 years ago, 5 years ago, 7 years ago! They are still right now and will still be right in 20 years. The chart confirms my sayings.
I don't doubt the digital gold argument (at least not for the medium term) and well, you're certainly right about the vast majority of alts. I've seen enough of them lose 95% of their valuation and volume since 2017.
Still, I'm not really clean on why smart contracts would necessarily just be on centralized or private systems.
Meanwhile, the number of txs are growing up and accumulating in the tx pool.
> didn't use enough miner fee
t. brainlet
Nope. XMR is the Swiss Bank for the money you don’t want found.
XMR has an incredible low hashrate and won't ever be cash due to the privacy , a company like bitpay can't even justify accepting such a coin and companies like bitpay are needed for adoption.
The bitcoin network has determined you are a poorfag, therefor your transaction is spam. The chain is for real money, not 6 bucks of bloat.
Think about it in terms of flowing value, aka economics
-You have your blockchain system which is entirely closed.
-You add an extra layer on top of it, you call it smart-contract
-You need outside data to enable smart-contract
-SOMEONE DECIDES what the data is suppose to be. (Here you broke the decentralization, which is one of the most important characteristic of bitcoin/blockchain)
-Data can now get in and perhaps value be transferred, using a little bit of gas from what ever platform you are using.
Smart-contracts break the blockchain. Seriously, if you are into data-integrity and immutable peer-to-peer value transfer mechanism, look into holochain, blockchain isn't adapted for this shit.
Vitalik probably didn't see this as a problem. I think it's a major one.
XMR is a meme because of one clear fact that you can see in the bitcoin whitepaper. Picrelated
>SOMEONE DECIDES what the data is suppose to be
Do you mean that some node in the network needs to decide where to get the data from or are you talking about the parties that enter into the smart contracts deciding what data needs to be retrieved?
>holochain
Thanks, will take a look when I have some time
>shilling LINK by pretending to shill bitcoin
This, the fax machine, internet, no value whatsoever, who would send information openly and to everyone? internet will be only private connections made redundant by the already working fax machine
You're a fucking idiot.
>Smart-contracts break the blockchain
>absolutely everything needs to be decentralized on a blockchain, not just the trustless nature of transactions and the integrity of the ledger
latter
then you might aswell not use the blockchain, and use something that scales and is energy-efficient like holochain and their mutual-credit system holo.
Do you really think those who would be into smart-contracts want all their transfer to be public and stored forever on a ledger? No, they just want the value to be transfer when X happens. Blockchain isn't adapted for this.
Uh, actually there is anonymity functions if a party wishes to use them, and the cost savings of storing data and doing business via blockchain is incentive enough.
>Do you really think those who would be into smart-contracts want all their transfer to be public and stored forever on a ledger?
Yes. That's the whole point of this technology.
BTC == Dial up
BTC == Netscape
I'm still not clear on how deciding what the data should be breaks decentralization. I mean, isn't a sender of Bitcoin using outside data in a very simple sense when deciding how much Bitcoin to send (and then sending that amount) to someone for a product or service?
>can't refute
>post brainlet wojaks
BTC == landline
It was fine/good for bitcoin following satoshi's vision, completely impractical for real world usage.
The idea is getting outside data in the blockchain can't be done in a decentralized manner, so if that is your goal, you might aswell design an open system instead of trying to adapt a closed one the real world usage.
BTC is outdated huehuehue
>getting outside data in the blockchain can't be done in a decentralized manner
and it never will. When will linktards learn?
>getting outside data in the blockchain can't be done in a decentralized manner
Well I mean, I don't know if they'll succeed but that is what Chainlink is trying to do.
> Select 1 sat and wait a week.
Not even a week, in the mornings a 1/sat transaction gets confirmed in a fucking block.
>Not even a week, in the mornings a 1/sat transaction gets confirmed in a fucking block.
Imagine the cope.
They will achieve what they are really doing(centralized oracles), and maybe automate some sort of hybrid system like they talked about in the google blog, but I still think that you might aswell design a better system for that kind of stuff and there is already one on the market.
Decentralized oracles are a meme.
You know its true, boo.
smart contracts may be the thing but you still need robust sound money and a secure blockchain as the backbone for the ecosystem.
I know it doesn't matter because nothing but bitcoin will ever be bitcoin. Suck it altie.