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0 sats \ 0 replies \ @doubleclutch OP 3 Aug 2022 freebie \ on: Imperceptible Country - Curious if anyone here is on this? bitcoin
Many miles of rail are required for conveyance of the heavy train to Valhalla. There also might need to be a few stops along the way so that you don't wander perfect eternity all by yer lonesome comrade.
2 big ones:
- UX/UI - Most people don't care about the settlement rails running in the background. They just need the transaction to work predictably. It still blows my mind that more cross border transaction for people working out of country and sending money home don't happen over these systems. This hints at the next one. 2) Easy to use anon on/off ramps.
TL/DR - Good luck shutting BTC down. Even if all governments colluded - it would run as a "blackchain" and woulds till persist. Some other PoW networks might be the same - Monero, HNS, etc. With crypto generally, although there are many really interesting innovations, the nature of these systems is fundamentally different. Particularly PoS systems where there are huge challenges with the infrastructure that supports these networks.
For BTC - the cat is out of the bag. While it is true that "any thing is possible" unless the global internet was shut down, BTC is going to be hard to stop. Additionally, even if the global internet were to shutdown, when it came back online the ledger would then start running again. To make the point with a silly example - BTC runs on satellites that serve as nodes - if the world were to explode and the satellites were to continue to orbit and a space ship showed up in a million years and connected to the satellite - the record of transactions would still be there and the chain could theoretically be restarted.
Crypto generally comes with much different considerations. Let's be honest - most of these networks use environments like AWS (or something similar).... this is a huge problem. We could imagine, although perhaps not likely, a regulatory environment whereas relationships with infrastructure like AWS could be throttled.
Also - one other note - when BTC was introduced the market determined that it should exist. People just started using it and the network grew.
Any other network launched with informed stakeholders and market interest that was generated from BTC. That is not to say that these projects have no merit, maybe they do (i.e. smart contracts were certainly an interesting innovation) but those innovations were launched with context. BTC has just been crazy persistent throughout.
GENESIS