One year on, El Salvador’s Bitcoin experiment has proven a failure

Re:One year on, El Salvador’s Bitcoin experiment has proven ... by frankenst1 on Thursday September 15, 2022 @04:47AM (#32849029)

> Using regular cryptocurrencies is incredibly simple and elegant. It's only when people started to believe propaganda about disk space and cpu time (that never made sense with the most basic examination) that somehow something that worked amazingly well is now a complete mess.

Bitcoin SV did not care about these things and is dead because of it. Its blocks are ~200MB spammed with mostly non-payment related data. Its blockchain has grown to over 6 TB, the global number of nodes verifying the chain is down to 20 and it has been delisted by many exchanges and block explorers.

Bitcoin and Lightning in comparison have ~25,000 nodes.

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Re:One year on, El Salvador’s Bitcoin experiment has proven ... by CyberDildonics on Thursday September 15, 2022 @10:27PM (#32861345)

Anyone can spin up as many nodes as they want.

Your example is bizarre since it is a nonsense fork made by a scammer. Even so it does actually work and keeps running even though all the people that sold you a second layer said throughput above a 56k modem was impossible. The spam could easily be prevented by a minimum fee. Even $0.10 per transaction would be $120,000 an hour paid by spammer and going to miners.

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