Kaspa - The Silver To Bitcoin's Gold
42 sats \ 5 comments \ @nyan 27 Jun bitcoin
Hi all, I thought I would not start an 'opinion on shitcoin xyz' discussion but Kaspa seems sufficiently different that it warrants some consideration. Let's get the basics straight, I do not believe that it in any way will rival BTC on its path to becoming the backbone of the global financial system, however, even as a Bitcoin maxi (which I am and do not own anything else), I think you have to keep an open mind and acknowledge potentially useful concepts and ideas outside the bitcoin bubble.
I have only read about its consensus mechanism and tech superficially. Has anyone here looked a bit deeper? Basically, I'd be interested if there is an obvious flaw in some of their claims. Could a blockDAG style system be a viable solution for Bitcoin scaling system or is it complete rubbish (like the 'IOTA Tangle').
Very interested in your opinions. I haven't found any tech-savvy bitcoiners give their take on it. Which might be an answer already but maybe it's also just not on their radar for now.
Happy Thursday
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0 sats \ 0 replies \ @sagars209 3 Jul
@nyan Kaspa might be better than Bitcoin technically and only thing that it seems to do better than bitcoin is scalability (more transactions on layer 1) but if you think from first principles thinking, do we really need scalability on layer 1? may be / may be not. what are the trade offs? obvious trade off is centralization due as only few people will be able to run their own nodes (as not all can store volume of transactions supported by kaspa locally). Owning bitcoin (and running bitcoin node) is like owning & running your own bank, is it for kaspa? i'm afraid i don't think so
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0 sats \ 1 reply \ @Notfast 27 Jun
I have not read about it. I wonder however if that solution might scale, but what is more important, if that solution might handle consensus, tx broadcasting, and blocks on 100k+ nodes. Either you have something centralized like Solana (less than 1k nodes, all nodes at datacenters) or something that breaks all the time like Nano, which I believe uses DAG.
Node communication is one of the biggest challenges on Bitcoin , a problem that people usually take for granted, but devs have spent a lot of time addressing it. So I do not believe an overnight project have solved it.
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0 sats \ 0 replies \ @nyan OP 28 Jun
Sure, there is always trade-offs and I think that is fine. A layer 2 or 3 does not need to have the same decentralization and security guarantees as the base chain. I even think custodial solutions are eventually fine for everyday purposes. I don't care if I have a few sats for groceries on a normal bank account in the future.
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0 sats \ 1 reply \ @DarthCoin 27 Jun
however, even as a Bitcoin maxi (which I am and do not own anything else), I think you have to keep an open mind and acknowledge potentially useful concepts and ideas outside the bitcoin bubble.
LOL just that phrase shows that you are not a bitcoin maxi, just another shitcoiner, pretending to be a bitcoiner.
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0 sats \ 0 replies \ @nyan OP 28 Jun
You are so funny, almost feel sorry for you man ;D You sound like and probably are a 30y+ virgin who has nothing in life except a few bitcoin in cold storage to be proud of.
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