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RE: Let The FUD About Cryptocurrency By The Media Be A Lesson To You

in #busy7 years ago (edited)

The fight is starting by the establishment and I have concerns that their ways of centralization are making inroads into this space. I wonder how many dev's are getting solicitations from bankers to subtly alter the code of the largest projects? I wonder about the block size increase debate in 2017 and while I agree that increasing block size leads to greater centralization, this is a matter of degree. The question is how much? Even Satoshi Nakamoto thought that a block size increase wasn't unreasonable if the network needed it. Then I see people like Jimmy Song saying just use credit cards. Are we sure that these people are on the side of the people? I don't know. As a software dev with a couple decades practical experience in running my own software business, I find many of the statements technically correct, but wrong headed from a business point of view.

The test I'm looking for is whether Bitcoin Core can implement privacy tech, or it's just talk. Privacy tech is essential for fungibility. Without it we are just handing the keys to authority to create a digital panopticon and get rid of the last hold toward freedom (as decrepit as it is) which is national fiat (paper cash). Authority may not be able to take over bitcoin, but at this rate, they don't have to. They only have to slow it down enough to prevent it becoming a replacement to national fiat.

I think this next year will expose the truth of who the bad players are in this field. Some are in it for greed and they will ruin the space if allowed to continue.

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To be fair almost everyone wants a block size increase(except Luke)...
The problem would be how much is right?
Segwit was an almost prefect compromise...
(other than the fact it was opt in but that not much of a big deal-it did show which side of the game wallets/exchanges were...)

2x could of been successful if only they asked everyone but miners thought they were too good...

To be fair what Jimmy Song said got twisted...
I not saying I agree with his statement but he was saying:
that if bitcoin is not accepted by a merchant directly and done by a middleman who gives the merchant fiat they are not really accepting bitcoin and are helping the system and giving people false hope.
Might as well use a credit card which gives bonuses and use them to buy btc.
I get what he trying to say but it somewhat flawed but people twisted his words alot.

Don't expect too much privacy tech. Alot of tech ruins the supply limit. CT works but not with much scale. To scale use Bulletproof would be amazing but it introduces inflation risks. Of course if it has higher degree of safety it can added.
Mimblewimble is coming soon but not to bitcoin but as altcoins(much easier to do bc drivechains are not added yet)
https://www.coindesk.com/grin-and-beam-a-tale-of-two-coins-being-built-on-mimblewimble
They however said to open a type of system where a token pegged to bitcoin will be added letting bitcoin be used on their chain. Really interesting but can't give my opinion yet

2019:
Dandelion is coming though which gives tor/vpn style ip privacy to tx.(I follow the github page :P )
BIP 151 Encryption let Bitcoin nodes encrypt traffic (hence, transaction and block data) between them.
ZeroLink and TumbleBit are both online but questionable bc it can be argued it taints bitcoin so not the best....
LN is automatic privacy,can't track anything that can't be tracked.
Sidechain privacy is here but also not good bc no trustless pegging has yet to be added.

https://bitcoinmagazine.com/articles/bitcoin-privacycoin-tech-making-bitcoin-more-private/

Centralized IT has been stagnating in a way that can hurt bitcoin. Parasites don't innovate, but have a habit of seeking rent which is slowing down progress. This helps authority. Internet connection speeds are being throttled on purpose. We need mesh networks and more projects like Skycoin or Jared Rice's DWeb.

I agree. One of the reason why I run/support Blockstream Satellites and run Txtenna. However they only help bitcoin and not the rest of the internet. Skycoin and Jared ice's DWeb are too shady for me and most people...