Re:The Stacks 2.0 blockchain implementation in Rust
by keymone on Tuesday February 15, 2022 @12:05PM
(#30349234)
> Visa does the same
Visa doesn't do "the same", specifically, Bitcoin does what Visa is doing but in a decentralized, trustless and permissionless manner. That's where the cost of security comes from and why there is no waste of energy.
> Lightning offers precisely 0 of Bitcoin's guarantees
lightning allows to make tradeoff between liquidity and transaction cost/reachability, but settlement is still done on bitcoin, so bitcoin's security guarantees apply.
and yes, it's possible to DoS and possible to lose money if the node isn't operated correctly, it's emerging technology on the extreme bleeding edge of largest financial revolution in hundreds of years. give it time.
> There is no good/service that is (1) legal to acquire in country X but (2) can't be acquired more cheaply and easily with regular money than with BTC.
irrelevant.
> some goods/services that are illegal to acquire in country X may be perfectly moral to acquire
also irrelevant, but i'll point out that purchasing illegal good/service with bitcoin doesn't make bitcoin illegal same as purchasing it with usd wouldn't make usd illegal. bizarre that i even need to spell this out.
Visa doesn't do "the same", specifically, Bitcoin does what Visa is doing but in a decentralized, trustless and permissionless manner. That's where the cost of security comes from and why there is no waste of energy.
> Lightning offers precisely 0 of Bitcoin's guarantees
lightning allows to make tradeoff between liquidity and transaction cost/reachability, but settlement is still done on bitcoin, so bitcoin's security guarantees apply.
and yes, it's possible to DoS and possible to lose money if the node isn't operated correctly, it's emerging technology on the extreme bleeding edge of largest financial revolution in hundreds of years. give it time.
> There is no good/service that is (1) legal to acquire in country X but (2) can't be acquired more cheaply and easily with regular money than with BTC.
irrelevant.
> some goods/services that are illegal to acquire in country X may be perfectly moral to acquire
also irrelevant, but i'll point out that purchasing illegal good/service with bitcoin doesn't make bitcoin illegal same as purchasing it with usd wouldn't make usd illegal. bizarre that i even need to spell this out.