Bitcoin is akin to GPS--a defense system. It is as powerful as nation state militaries due to this similarity. Precision timing. Satoshi originally referred to it as a timechain. Ethereum is not the same. It is not stronger. Discuss.
Bitcoin
>GPS--a defense system.
The Global Positioning System (GPS), originally Navstar GPS, is a satellite-based radionavigation system not a defense system.
>It is as powerful as nation state militaries
Bitcoin has no Military and no Military gets paid in BTC
>Precision timing.
Time to finality for transactions is like 60 minutes
>Ethereum is not the same.
Ethereum Mining has the same flaws as BTC mining
>It is not stronger.
Proof of Work has flaws, its not perfect. every PoW chain suffers from the same problems, like MEV, selfish mining, censorship, centralization on the hardware (ASICS, GPUs) and software level (centralized miningpools).
Bitcoin is done for three simple reasons
>extremely high price for one coin with an insanely high market cap
Etherium showed you that everything above a few thousand is doomed to stagnate or fall. While you can't really apply this to Bitcoin, you still have to remember that even with all the pump Bitcoin was not even dick touching the $100k
>Proof of FUCKING WORK
This system is not up to date and with the rising energy prices and regulations it could even be that owning Bitcoin will become a crime. Until Bitcoin has proof of stake, it is a potential Luna3.0 coin that goes into the ground.
>really low transactions per second
Bitcoin is simply too slow to be considered the go to crypto. If you want to make crypto the new way of transaction, you can't claim the no.1 spot for long if you are to slow to compete against the BBC (Big Business Card aka Credit Card).
I simply don't see why anyone cares about Bitcoin as a way to invest money. The coin needs INSANE amount of new investors to even climb a little bit. If you throw 100 billion $ into pretty much any other coin, you have INSANE green arrows to the moon. If you throw 100 billion into Bitcoin, you create a small dent. It's simply already too big to grow in regards to crypto.
Also don't even get me started with trash like Doge where every second you hold this trash coin you lose money because it has infinite money printing.
Bitcoin is a military.
The first principles view of any military action is projecting power--transferring joules. (I see you link marines--Juels).
Physics is blind to the distinction between offense and defense. There is fundamentally no distinction between kinetic power projection and electric power projection.
All civilization, all living creatures, obey the social consensus protocol that those who project the most kinetic power in the most clever way earn the right to set the state and chain of custody of limited resources.
No one gets the option to unsubscribe from this social consensus protocol--real resources are a necessity. Power is a necessity. Proof of work is a necessity.
>you can't claim the no.1 spot for long if you are to slow to compete against the BBC
Are you saying BTC needs to be built for BBC?
>rising energy prices
In bitcoin-denominated terms it becomes cheaper and cheaper to mine bitcoin over time. It is cheaper now to mine bitcoin with an AntMiner than it was to mine with USB miners in the past (in bitcoin-denominated terms).
>Bitcoin has no Military and no Military gets paid in BTC
Bitcoin spends around $20M per day on buying energy for security, around $70M at the peak. When Bitcoin spends more on energy than the US military, it will become the most powerful military in the world.
>for security
the amount of energy wasted actually adds nothing to the security of the ledger.
You cannot even use BTC it’s so shit like you retard scam grfo here nigger
>the amount of energy wasted
how is it wasted, the energy is confirming transactions on the blockchain
>adds nothing to the security of the ledger.
How does adding and confirming blocks not add security to the network? It's quite literally the function of the network
The energy is used to:
* secure the validity of present modifications to the ledger through unforgeable costliness of block creation
* secure the validity of the past transactions on the ledger as each block references and attests to a previous block
* secure the credibility of the distribution of a new currency by using claims of energy that a receipt for receiving newly minted bitcoin. This is the only way a new currency can be initially distributed without a central party as energy is distributed around the world.
* secure the credibility of the monetary policy by building a decentralised arrow of time that is anchored to the real world via the difficulty adjustment. This arrow of time is used for decentralised timekeeping within the system (eg. halvening schedule, difficulty adjustment window, time-locked contracts, hashed time-locked contracts used for the lightning network, descreet log contracts ...).
It is impossible to do anything of theses things in a decentralised way without a claim on energy. Bitcoin bids for cheap energy in the same way the US government bids for energy to fuel its aircraft carriers but is does so without being dependent on any particular type of energy, weather the energy is intermittent or reliability, weather the energy is at the bottom of the ocean or at the top of a volcano, Bitcoin doesn't care. Bitcoin bids for absolute Joules and so will be able to spend a lot less than the US in order to achieve the same level of security.
There is no second best.
Fucking Michael Saylor here of all places.
>the energy is confirming transactions on the blockchain
in a very wasteful process called mining.
>How does adding and confirming blocks not add security to the network?
you just waste huge amounts of energy to make the next block and the network can still be centralized, like through miningpools right now. so it doesnt really add that much to security, its basically proof of stake with extra steps.
>It's quite literally the function of the network
Proof of Work is just a sybil control mechanism to prevent too many miners to join the network and 51% it. its kinda just very expensive spam protection.
>It is impossible to do anything of theses things in a decentralised way without a claim on energy.
actually it is possible, the Avalanche Consensus family is doing it, they use around 46 households worth of Electricity and have the highest Nakamoto Coefficient.
Because Avalanche is leaderless and a Block can be proposed at any time it has sub second finality and can scale to millions of independent node operators.
>There is no second best.
actually when it comes to Consensus Protocols and functionality its easy to argue that Avalanche is truly superior in about every metric as it is not held back by the trilemma caused by leader based consensus like classical or nakamoto has, its an entirely new way to consensus.
btc needs ntp stratum to function properly
are you dumb?
>you just waste huge amounts of energy to make the next block and the network can still be centralized, like through miningpools right now. so it doesnt really add that much to security, its basically proof of stake with extra steps.
cointelegraph.com
cryptopolitan.com
messari.io
> rising energy prices
That’s fine, only means less energy will be consumed for the same amount of security, since it’s the cost of electricity that secures the blockchain. A lower hashrate is not less secure if it is equally costly to obtain.
> actually
That word doesn’t free you from the burden of backing up your claim, and doesn’t save you from appearing like a fool when you fail to do so.
bitcoin is toast and i don't care if maxi zealots go broke
>you just waste huge amounts of energy to make the next block and the network can still be centralized,
Okay go ahead and try. Oh wait, you can't afford the energy costs?
>like through miningpools right now.
1. how are mining pools centralized?
2. how are mining pools wasting energy?
> its kinda just very expensive spam protection.
user discovers byzantine fault tolerance 101
Just admit you're a stupid dumb shillfag scum, and Avalanche won't save you.
t. can't look ahead 10 years
many such cases
Bravo.
nice argument faggot
Look at the big brain on OP. Well done. BTC is a little too "high brow" for biz but it is nice to see a real player character for a change.
explained it in a follow up post read the thread before posting.
>Okay go ahead and try.
its already been done. pic related.
>1. how are mining pools centralized?
the pool is the one in control of transaction selection for blocks
>2. how are mining pools wasting energy?
Proof of work is a very energy intense operation. it works but it is very wasteful and as it has been already demonstrated there is a better solution around now.
>user discovers byzantine fault tolerance 101
I explained it to you because you dont seem to understand what Proof of Work is.
>and Avalanche won't save you.
you dont have to be mad at me that better tech exists now. go do some research.
Ohh now I see you’re an avax baggie who thinks Emin has solved the trilemma. Sorry bud, no wonder you’re seething about Btc since it’s teaming up with your arch nemesis to make Avax completely obsolete. Perhaps you can hire some more sleasy lawyers to try and take down Btc, as “solving the trilemma” doesn’t seem to do the trick on its own (hint: it would be quite enough to flip Btc AND Eth in an instant if Emin had done anything remotely of the sort. This is also a clue for the Kda baggies).
> explained it in a follow up post
Oh yes you revealed yourself to be a delusional Avax baggie alright
see t. rube