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Re:Why Decentralization Matters (2018) by Geee on Tuesday November 30, 2021 @06:40AM (#29391081)
Exactly.

If payments / incentives are required, then Bitcoin can be used. For example, there's decentralized Sphinx Chat which runs on the Bitcoin lightning network: https://sphinx.chat

I haven't seen any of the 'cryptojunk' tokens implement an actual service like the Sphinx chat, which is quite telling in my opinion.

Re:Why Decentralization Matters (2018) by summm on Tuesday November 30, 2021 @06:51AM (#29391168)
No. It cannot. Bitcoin cannot be used, because the rate of transactions is much to low for such an application. Currently its only use is gambling and burning the planet.
Re:Why Decentralization Matters (2018) by aaa_aaa on Tuesday November 30, 2021 @07:05AM (#29391244)
Last time I checked, in El Salvador you could buy beer from a machine with a cell phone using Bitcoin.
Re:Why Decentralization Matters (2018) by nextaccountic on Tuesday November 30, 2021 @08:10AM (#29391690)
People aren't actually making transactions within the Bitcoin chain there. It wouldn't work out, the on-chain fees are outrageous.
Re:Why Decentralization Matters (2018) by uniqueuid on Tuesday November 30, 2021 @07:16AM (#29391305)
Burning the planet is the primary effect. The beer is a side effect :)
Re:Why Decentralization Matters (2018) by babelchips on Tuesday November 30, 2021 @07:27AM (#29391387)
Under 10 transactions per second globally is why Bitcoin isn’t used in retail.

Micropayments and nanopayments require thousands and tens of thousands TPS. There are newer generations of crypto that can do that and with none of the energy consumption problems of Bitcoin and other Proof of Work systems.

Re:Why Decentralization Matters (2018) by ulzeraj on Tuesday November 30, 2021 @08:06AM (#29391666)
Sphinx chat payments work exclusively on Lightning and so is the El Salvador Chico wallet. Why do people keep using the same uninformed arguments every time bitcoin is mentioned?
Re:Why Decentralization Matters (2018) by Robotbeat on Tuesday November 30, 2021 @08:46AM (#29391993)
Sounds like recentralization to me.

IMHO, if we’re gonna do cryptocurrency, we should try to make as many transactions as possible on layer 1.

Re:Why Decentralization Matters (2018) by ulzeraj on Tuesday November 30, 2021 @08:51AM (#29392056)
You can run Sphinx on your own hardware. You can pay bills on El Salvador with any LN wallet connected to any node.
Re:Why Decentralization Matters (2018) by Geee on Tuesday November 30, 2021 @09:03AM (#29392165)
I think summm's comment was mocking anti-bitcoiners, but some people probably took it seriously.
Re:Why Decentralization Matters (2018) by PeterisP on Tuesday November 30, 2021 @03:39PM (#29397172)
No, you in El Salvador you can buy beer from a machine with a cell phone using Chivo, which is a local payment scheme with a centralized ledger that's just denominated in BTC.

You can send money to/from Chivo using Bitcoin; but the settlement of that beer purchase would not involve Bitcoin network at all.

Re:Why Decentralization Matters (2018) by gitfan86 on Tuesday November 30, 2021 @07:22AM (#29391331)
That is just a PR stunt, just like the Bitcoin city that "is going to be built"
Re:Why Decentralization Matters (2018) by charcircuit on Tuesday November 30, 2021 @08:20AM (#29391770)
He said on the lightning network.