Over70irregs
Well-Known Member
Zombie that survives head damage. That knowledge word is interesting.
Bitcoin/Ethereum/cryptocurrencies
- Thread starter 35years
- Start date
Zero knowledge proofs and homomorphic encryption are two of the most interesting things to come up in recent history.
I’m really glad Ethereum is considering this.
Over70irregs
Well-Known Member
Last time I heard of a wormhole on a blockchain it was hacked I believe. Forces trust which opens up attack surface vectors. This in turn leads to centralization.
I'm sorry, when did we start talking about the lightning network?
Humor aside, it’s an issue all chains are balancing. Or trying to.
Even Bitcoin is trying to walk that tightrope, in order to get transaction fees down.
But acting like this only applies to altcoins is disingenuous.
Over70irregs
Well-Known Member
I believe last thought was centralization. I believe control guy agrees according to his orders
Your problem with Ethereum is that they have a roadmap?I believe last thought was centralization. I believe control guy agrees according to his orders
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Over70irregs
Well-Known Member
Its main focus is being a unit of account, store of value , medium of exchange. Everything else is slow messy consensus work.
Over70irregs
Well-Known Member
Define roadmap in context.
Ok.
And how do Bitcoin Ordinals fit into that picture?
Or Taproot, paving the way for Bitcoin based smart contracts?
They have a specific vision for the direction they want the network to go, and have shared that vision?
Over70irregs
Well-Known Member
Ordinals died a happy death with NFTs. Famous people are being sued. Like having a beautiful park shared by everybody, then someone allows their dog to poop all over the place while walking around with a can of paint spraying graffiti. Eventually, it gets cleaned up. Taproot was a softfork. Ethereum does hardforks. Hardforks are not backwards compatible you must upgrade. Softforks are backwards compatible you do not need to upgrade. If you don’t upgrade your Bitcoin software will work just fine.
So you preach Bitcoin.
Yet, they allowed ordinals. They're moving closer to smart contracts. They've reduced decentralization and increased the required trust through the lightning network. They're almost exclusively mined using silicon from one Chinese company.
And I'm not sure if you were around for the block size wars, but Bitcoin absolutely does hard forks.
Over70irregs
Well-Known Member
I believe it preaches itself in an apex manner through Metcalfes Law. The network is open source but its immutability chokes ordinal mutants. It is meant to be tested. Hard fork was defeated. Longest chain wins. Decentralization immunity forces second layer. Base layer is slow, boring and clunky which is easier to securitize. This is why blockchain is inefficient other than used as money. GPSing commodities is better on an inexpensive database.
Brownslave688
You want a toe? I can get you a toe.
Oh NFTs are not dead I promise. Monkey pics worth millions. Maybe but NFTs will be the most widely adopted tech in this entire space.
Brownslave688
You want a toe? I can get you a toe.
Don’t forget the entire network is secured through inflation.
Brownslave688
You want a toe? I can get you a toe.
Metcalfe’s Law you say? Recognize that guy on the top left? None other than Dr Robert Metcalfe himself.
Let the mental acrobatics and back pedaling begin.
Over70irregs
Well-Known Member
I wonder what it was minted on?
Over70irregs
Well-Known Member
Nope. 1BTC=1BTC. Security is through proof of work.
