0 sats \ 6 replies \ @brianoflondon OP 15 Oct 2022 \ parent \ on: Why the New York Times is critically wrong about hard forking bitcoin
You're welcome to your micropayments. I generally earn a minimum of 250,000 sats per post on Hive and my dev work is paid 1.46m sats per day by the DAO so I only cross post here to remind myself this place still exists.
All altcoins grow while they accumulate users, and then steadily decline in value as everyone realises the use case and value proposition don't exist. Out of 20,000 altcoins, there has been zero that have long term grown in Bitcoin echange value.
Meanwhile, my 100 sat tip today will be worth a dollar, with 100% certainty, in 4 years, I just have to wait.
The other tradeoff is you have to not offend the whales on Hive by questioning anything at all that promotes retail filling their bags. I was involved in the initial mother chain, Steem, before it had a hostile takeover and turned into JustinSunCoin along with his other scam Tron.
I've been involved in the building of 6 different altcoins in the last 7 years. Every single one was a scam, ponzi, and a cult. But you won't see it until the rug is pulled out from under you, and even then it could take years before you figure it out.
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I find value in censorship resistant text storage and I haven't seen anything better at that than Hive.
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It is frustrating that IPFS is not fulfilling this purpose. It is true that the posts on the chain are always available after some number of blocks.
I just can't stand the cult-ure of steem fork chains.
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I should just reinforce the point about micropayments. Lightning is the main protocol now that enables such small payments at an economic fee rate. And it does it in seconds, worst case.
The lack of need for immutability of this data because it is stored on chain, but without any identifying information is also pretty freakin amazing. Every payment you make on Hive is public. On Lightning, it's between you and who you pay, nobody else can find out, and once the HTLC expires it's gone. No need to store it.
I know what kind of resources are required to run a Hive node. It is prohibitively expensive. There is only about 100 copies, even though it is pretty much censorship resistant, that's not a lot of targets to shut down. And your access via the web is gone if every web app is taken down, you can keep a copy of it on your own, if you can afford the ever exploding amount of data on chain.
In that respect, you'd be better off using IPFS and pinata.
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Ipfs fails because it doesn't provide any way to incentivise pinning. We're working on that.
The storage size of Hive just dropped by half with better compression. It's currently smaller than Bitcoin.
A witness node runs fine on a $50 per month server and positions in the top 50 more than cover that cost.
Api servers which web front ends need are heavier but it's becoming easier to run modular parts of this infrastructure for specific apps.
I don't think Hive is the future for high frequency small payments as I'm doing on Lightning but it provides many things that lightning can't and shouldn't be trying.
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Considering that the main bloat of the chain is english language text it damn well better compress. And considering that it didn't start making a blog until, what was it, 2018? and a tiny userbase, it won't be as big as bitcoin.
Lightning isn't providing the forum, it's just payment rails. This application is just a lightning wallet with a forum attached.
Most importantly, there is no downvote, you tip, or not. No stealing from your brothers.
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