Slow finality Transaction is final if it has a near-zero probability of being reversed. Reversing a transaction = 51% attack. Bitcoin has the highest cost of 51% attack by far. Hence, Bitcoin has the fastest settlement time, since each block compounds the hashrate needed to rewrite it. https://medium.com/@nic__carter/its-the-settlement-assurances-stupid-5dcd1c3f4e41 https://www.crypto51.app/
High power costs Feature of PoW, the only way to have trustless permissionless decentralized consensus. There is no "Proof" in PoS, "stake" is a software abstraction that gives some users more rights. Only by spending watts and doing verifiably hard work can we be sure the network stays strong against the attacks.
Limited governance Good, each human can be bought, coerced, kidnapped or killed. Less human intervention = stronger network.
Overall utility I assume you're talking about programmability and smart contracts. Added complexity = broader attack surface, as evidenced by hundreds of hacks and billions of stolen crypto assets over the years. Being a sovereign hard money is a multi-trillion dollar market niche, and multiple L2s can compliment the secure and robust base level of BTC for more flexibility if needed.
Do you know what will happen to miners when the blocks are finished being mined? Yes, either Bitcoin has enough transactions to sustain itself with the fees or it have failed. Guess we'll see in 20 years or so
SN quote: Feb. 14, 2010: I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume.
Ahhh, nothing like a lost maxi.
So about your "near-zero probability" that still takes 10+ minutes. We already beat it in all respects.
There is no positive to high power costs, especially with the greenhouse effect we are seeing in the climate, and with the rise in power costs both for living and for mining.
Limited governance leads to no active governance, that's like having a hundred dead presidents instead of a living one, congress and senate.
Overall utility - just a rofl on that one. Much of the stolen crypto you speak of is Bitcoin. You can't wiggle out of the fact that it doesn't do much and doesn't do it very well by pointing at other projects.
What happens when the blocks are done being mined: miners turn into trash in landfills. All miners will be processing are transactions (assuming there are any) and they won't make jack. Congestion in tx's would have to be insane for a miner to turn a profit.
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@nemo I can't reply to your comment. @k00b apparent bug in ability to reply after some depth
You think I argue with idiots like this?
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1 man backup sad af
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Does clicking 'view replies' then replying there work?
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if you did you might get somewhere
instead you're a backup for a btc maxi in failed debate
cheers
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Oh, you're very confused, I actually want you to remain steadfast in your beliefs, useless (idiot for the commie State) arrogant low tier normie who doesn't have anything better to do than somehow find their way here.
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Calling me neurotypical is so fucking ironic I can't even... lmao
Sucks to suck, ya know?
Unfortunately, that is you today.
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You think normie means neurotypical in this concept? Lol, it means sheep, you illiterate troglodytic troll, keep up with language
But yeah, if by neurotypical, you mean IQ falling well within a standard deviation, you certainly match that criteria too
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.
And here I thought you were genuinely interested, and not simply peddling your shitcoin. Who's "we"? BCH? 0.3% of current BTC hashrate is enough to 51% attack BCH and obliterate it. Too bad it's so insignificant it's not even profitable to do so. Energy and ecology scare? Educate yourself - https://www.mdpi.com/2078-1547/14/3/35 But you won't read it just as you didn't read my previous links, you'll just keep calling me closed-minded maxi, lmao.
Stolen Bitcoin - show one instance of stolen funds due to BTC protocol bug or exploit.
Ooohh, miners aren't making shit? Why is the hashrate almost always at ATH then?
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What shitcoin do you think I am peddling? I don't hold BCH.
BitcoinCash is superior software, Bitcoin has the volume. It's a horrible business model to fix scaling and then correlate with your previously forked chain in mid-market price with a bad logo and low popularity.
I'm not into it. Lol.
Bitcoin can be stolen using conventional methods, the result can be the same or it can stay in circulation illegally in some countries.
The mining hashrate is at ATH due to excessive buildup of miners and mining products in the hopes for a bull market during an economic collapse. Greed equates to ignorance, let's just call it extreme ignorance.
In most instances it's cheaper to buy Bitcoin than to mine it. If you don't know that, you don't know jack.
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BCH improved multiple features of Bitcoin while maintaining most of the original code.
First of all, it scales. Second, it's somewhat faster (although still slow AF in my opinion) in block times. BCH has active governance and while their SmartBCH chain is beta at best, they are progressive. It's been adopted by a lot of social media sites as a "cash" form of Bitcoin but that isn't my evaluation; it's still too slow at nearly 2x the speed of BTC and Bitcoin won't scale.
BCH could effectively do what people want BTC to do in the marketplace if they simply swapped the two. I see BCH as a failed marketing model because they are in competition with the correlation of the currency they forked from which doesn't scale, to fix scaling.
PoW in general is outdated. Work smarter, not harder.
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Ahh, eCash guy, gotcha. Wait till you learn that PoS doesn't work, that'd be something
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*Been using it without fail for years.
*Laughs loudly
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I'll check it out later (tomorrow). Probably a waste of time but I'll humor you.
not using excessive power to achieve the same or lesser than amount of encryption to provide a cryptocurrency that works and works well
if you think PoS doesn't work you're literally braindead
"Bitcoin maxi's are the flat earther's of crypto." -Allen Taylor
before you even start - I HATE Ethereum. I turned down a copywriter position with LUKSO and positions with EOS before that.
I am not promoting anything, simply making a point.
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Been a writer and crypto user for years, still doesn't know that PoW or PoS don't provide any encryption. Respectfully, humble yourself, and read a little