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wankingisgay on scored.co
1 year ago4 points(+0/-0/+4Score on mirror)2 children
bitcoin didn't solve the problem, there is extreme friction with bitcoin transactions. You would need a separate layer of payment processing to handle everyday transactions and they would clear the books between themselves.
i think bitcoin has extreme potential as a wealth storage because it's truly FINITE whereas everything else is not.
1 year ago3 points(+0/-0/+3Score on mirror)1 child
Due to the 10min block time I doubt it was ever meant to be used for micro transactions. More as a store of value, and perhaps for paying bills, which boils down to half a dozen to a dozen per month for most people.
Kind of like how when people used gold coins or cash, nobody carried all of their life savings on them at all time, but only a fraction they could afford to lose, while most of their wealth stayed back home.
Smartphones or plastic cards wasn't very widespread back in 2008, the technology for convenient in store micro transaction payments without (((centralization))) just wasn't available yet.
I think the plan always was to wait a few years, to develop something in the future that could be used for micro transactions. A sharded chain, a temporary chain, or even a local chain with just a few seconds block time that could be tied to a smartphone, a plastic card or any other physical object.
Simply put, some sort of alt coin forked from Bitcoin but with different properties, which you could easily exchange to back and forth using a decentralized exchange. Each part of that system has to work without any (((middleman))) involved.
Today all the tools exist, but due to (((regulation))) it takes time for merchant adoption. Many (((regulations))) outright requires a cut being given to Schlomo for every transaction made, often while the business has to convert it to (((fiat))).
If governments could start hoarding major cryptocurrencies as reserves, and the tax agencies would accept cryptocurrency payments directly for tax, businesses would be a lot more independent and could easily cut out the jew by never converting anything to (((fiat))).
There's so much potential and (((they))) cry in pain as they lose control over other peoples wealth.
For transaction over 20,000 dollars people usually use normal bitcoin blockchain and wait 9 minutes or more. For 1,000,000 to infinity it takes 6 blocks in a row, standard, but still under an hour waiting for 6th confirm
Yep, it had to improvise, adopt and overcome to function in today's world were people for some reason prefer (((smart))) phones, or to check fakebook on their (((smart))) washing machine over using a regular ordinary desktop PC.
i think bitcoin has extreme potential as a wealth storage because it's truly FINITE whereas everything else is not.
Kind of like how when people used gold coins or cash, nobody carried all of their life savings on them at all time, but only a fraction they could afford to lose, while most of their wealth stayed back home.
Smartphones or plastic cards wasn't very widespread back in 2008, the technology for convenient in store micro transaction payments without (((centralization))) just wasn't available yet.
I think the plan always was to wait a few years, to develop something in the future that could be used for micro transactions. A sharded chain, a temporary chain, or even a local chain with just a few seconds block time that could be tied to a smartphone, a plastic card or any other physical object.
Simply put, some sort of alt coin forked from Bitcoin but with different properties, which you could easily exchange to back and forth using a decentralized exchange. Each part of that system has to work without any (((middleman))) involved.
Today all the tools exist, but due to (((regulation))) it takes time for merchant adoption. Many (((regulations))) outright requires a cut being given to Schlomo for every transaction made, often while the business has to convert it to (((fiat))).
If governments could start hoarding major cryptocurrencies as reserves, and the tax agencies would accept cryptocurrency payments directly for tax, businesses would be a lot more independent and could easily cut out the jew by never converting anything to (((fiat))).
There's so much potential and (((they))) cry in pain as they lose control over other peoples wealth.
BITCOIN TAKES SECONDS nowdays to transfer for small trades on the LIGHTNING CHAIN of bitcoin :
=====
https://www.coindesk.com/learn/what-is-bitcoins-lightning-network/
I use old and new style
For transaction over 20,000 dollars people usually use normal bitcoin blockchain and wait 9 minutes or more. For 1,000,000 to infinity it takes 6 blocks in a row, standard, but still under an hour waiting for 6th confirm