22 sats \ 1 reply \ @DmitriiLunin 26 Jan \ parent \ on: Naivetes in Bitcoin bitcoin
Wow! I see, but what are the next steps?
Some onboarding instructions would be cool to see)
My main naivety was that I thought it would be easy to join, but no, for two weeks now I'm still outside the bitcoin party (still no wallet and SATs). Subconsciously, and being technically savvy, I understand that I can figure it out, but now I'm interested in feeling like a "simple user" and what I'm seeing tells me that it will be tens of years before mass adoption occurs.
Keep waiting, i keep stacking. Take some sats. Time is money. So what are we waiting for?
If it is about the second bitcoin, as I ask in the original message, then I would like to be its first adherent (and make money, of course).
If there is any doubt that the existing bitcoin will appear, then there is no doubt, of course it will, and everything points to the fact that the replacement of gold (as a reserve asset, for example) has already taken place.
But the question is what will replace silver - will there be a second bitcoin or not?
How to recognise it in time?
Because satoshi did his work, and dissapeared. So there IS no CEO tha can be fucked Up and there IS no one than can rug pull this. Like a snowball that grows itself.
Decentralisation - yes! I agree that this is a multiplier for a good product, but still a multiplier/technology, there must be something else (for example "network effects" as they replied to me in one of the comments above).
It's a great question and comes up a lot since it's such a natural thought. The answer is no and the main reason is network effects. In other words, first-mover advantage. From the network effect we obtain value and therefore security. If a new coin appeared with some killer feature which was actually sound, it would be added into, or implemented on top of Bitcoin. That being said we're always wise to be cautious and stay aware of what's going on out there in the realm of fundamental and proven advances. Over time you tend to curate a collection of experts on the various pieces to help evaluate new developments.
I agree with you both in terms of the influence of network effects and the fact that bitcoin has set a good example for all of us and has motivated many to develop and simply study it. At least I have an answer - network effect.
What else?
Or maybe, as with all the startups that have become unicorns, where the key factor is: Great product and technology, big market (waiting for change), great team (was Satoshi alone?), huh?
How many cryptos had say that they are the new Bitcoin? How many keep Alive now? Everything is as you say, there is no replacement and is not expected, but why? That's the question
Great, interesting! But I'm not talking so much about forks, but about a blockchain with bitcoin-like success!
I have already pre-ordered the book and will definitely try to get to the discussion with Chris as described here at the link https://twitter.com/cdixon/status/1747665697507815433
My answer is no rather than yes.
But I can't find any arguments why "the emergence of a second bitcoin is not possible"?
As a novice bitcoiner (I'm an ERĐĄ-20 follower with 1000 days on the network), I don't understand anything at all, not even the basics of where to find a SATS contract and see quotes (of course, this can be done on ĐĄoinMarketCap, but there are three versions of SATS).
Again, I don't want to install a new wallet, and in general it seems more complicated to me than it was in ERC-20 (but I'm not sure).
As for me - Yes. (I'm from Estonia, in case you're interested).
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