Bitcoin as a HODL investment means it does really well.
Bitcoin as transactional daily money means the entire world needs it for everything and it absolutely melts faces and ushers in a more beautiful world.
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Replies (19)
Doggie coin and Monero will probably work better though
Considering I already use it as the latter option via lightning, and it is an immutable secure base layer, I would say nope.
So whatever you use must work better than anything else?
What was corndalorian talking about in this post then? nostr:nevent1qvzqqqqqqypzp78xcep59u0q2fyqvv8z0cgpdh8rtlp6v98xqs60aa92y5pn9r9fqy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qgwwaehxw309ahx7uewd3hkctcqypqy2u9u0efsxrrtv6r0n8jcw48pslqsezlc58688ved6e5cjm87v65f2v3
Not what I said. Sounds more like a projection.
Moneroβs chain is 4.5 gigahashes. If it was worth anything it could be co-opted by a state for a pittance of resources. Doge ainβt much better. Theyβre not sufficiently secure to be an alternative monetary system that remains immutable through proof of work. Itβs just physics.
You think Bitcoin's hashrate was more than 4.5 gigahashes when Satoshi sent his first transaction?
Then how come attempts to make doggie coin convert to proof of stake have failed?
It's free open source software. Bitcoin proof of stake has been created and it went to zero because proof of stake is nonsensical and bullshit. Eth used to be POW and switched to POS at the command from on high. Hard forking Eth didnt stop people from continuing to run the POW chain, its just that king vitalik and eth foundation decided for everyone that the "official" chain was now POS.
So nothing is stopping doge from going POS other than that nobody actually gives a shit and likely wouldn't be bothered and so the miners of doge proof of work chain just keep chugging along... whats the max supply again?π€£ π
You're not making sense. You said doggie coin would be stopped if it was a threat, but what makes it less of a threat than Bitcoin when it's just another proof of work utxo Blockchain that seems to work better? What have they done to "stop" it?
Doggie coin doesn't have a max supply, the dogeconomy continues to be biased in favor of new miners forever instead of using halvings to accelerate economic bias in favor of earlier adopters. If that bothers you, I don't care about your opinion and I'll just laugh at you for letting it make you more of a late adopter, but you still could finish addressing your previous point instead of changing the subject
Also, why does autocorrect capitalize blockchain? That's retarded
Best of luck to you mate. That question you ask at the top of your last post. If you sincerely go the journey of answering that question, youβll find a valuable answer.
So when you don't have answers to defend your argument you just dodge the question with condescending bullshit?
Iβve got answers just fine.
My time for thumb typing nuanced topics reaches its limit quickly.
Iβve got people to tend to.
So hereβs a thorough answer that says it better than I could: https://www.onceinaspecies.com/p/the-crypto-catch-22-why-bitcoin-only
And be well out there. Choose joy.
If you don't have time to defend your position then don't talk shit online. Not clicking your link if you can't explain it yourself and stand up to scrutiny of your own beliefs
My view is,
you make a post, you invite replies and scrutiny you should be able to stand up to.
You changed the subject to supply caps earlier, so you've already revealed I can't trust you not to gish gallop, so you get the "no links, explain your own argument" treatment from me.
This posted while I was typing it, and now my keyboard has disappeared and reappeared a few times and keeps missing key taps. The post button normally gets hidden behind the keyboard while typing with jumble.social on my phone so this is really annoying
Sounds good π€
Ok, in good faith, here is my reasoning: Yes, I said doggie would be stopped if it was a "threat". And as another proof of work blockchain why is it less of a threat than bitcoin? The first thing that comes to mind is the difference between 800+ exahashes and 3 petahashes. Bitcoin, at this point, cannot be stopped regardless of who wishes it away and their potential resources. Game theory says any entity that could would better use those resources to play along and be rewarded for doing so.
At this point, in terms of hashrate, a single medium sized mining operation could easily just co-opt doggie coin chain and make up their own ledger. No one does that because 1. it would make it even more worthless and 2. there is no incentive to make it worthless because it poses no threat to any existing system of value. We know that is the case because when bitcoin was just a few petahashes, it COULD have been taken over just as easily but wasn't... and not because it wasn't a threat , rather because no one PERCEIVED it as a threat since it was first and new. Very few knew what they were looking at in that time.
However, since it was first we now know the potential of a secure decentralized ledger backed by proof of work to begin to upend institutional monetary systems. So if any other potential threat were to come along it would be squashed quickly because now many who care know, know what they are looking at. One can deduce thus that no one actually thinks doggie coin has legs to become a threat, not because they are unable to perceive it, but because they can perceive it clearly and still think its not.
To the point of an infinite supply. It doesn't bother me that doggie coin has chosen that, but it is a decision that is clearly economically unsound. A finite supply that cannot be manipulated is THE innovation in bitcoin. An infinite inflating supply is not something people would trend to as a proxy for their absolute finite time and energy. So it doesn't really attract new miners even because investing in a melting ice cube might help short term velocity of money, but does not provide a foundation for a stable money.
I could go on, and I think that suffices for my point of view. Consider it or not, that's as much energy as i've got for this thread. Be well.
Doggie coin supply isn't infinite, it's a fixed 5 billion a year which becomes a smaller and smaller percentage since there's more and more already out there.
Doggie coin's enemies have already done all they can to stop it.
For example, its own creators have acted as enemies to the entire cryptocurrency community.
They've poisoned the well to ruin name recognition with the "doj coin" pronunciation (which is why I always type out "doggie coin")
The authorities have tried to undermine widespread interest by funneling users to custodial shit and then rug pulling them, just like they do to Bitcoin. The original dogetipbot on reddit shut down and dumped all the coins to try to kill any meme interest and momentum. The authorities never did anything about it because it happened "before there was regulation" (like fraud and theft weren't already illegal)
Celsius tried to push doggie coin to switch from proof of work to proof of stake
The dev team has been taken over by glowie psychos for years
None of this has stopped doggie coin from being the top performing asset on the market for the 11 years it's existed because it's a fork of Bitcoin that makes it more usable and adds a picture of a dog on it
I do agree that doggie coin will need a lot of time to catch up to Bitcoin's hashrate in order to also catch up on adoption, name recognition, market cap, etc.
I forgot to thank you for the fleshed out response. It was a nice surprise to see π€