CyP

btc og

[CyP @cypherpunk__]

@sinoTrinity How so?

[CyP @cypherpunk__]

@cyberat2600 @GlucoseNot @sinoTrinity You just can't see it. As per Craig and Calvin, i couldn't care less about them

[CyP @cypherpunk__]

@cyberat2600 @GlucoseNot @sinoTrinity What does Turing Completeness have anything do you being thick? Which was my original point

[CyP @cypherpunk__]

@cyberat2600 @GlucoseNot @sinoTrinity You have a problem with Craig and Calvin it seems which explains why you project so much hate on the tech.

I think if you understood it, you'd appreciate it, but you're blindsided by your hate for Calvin and Craig.

That hatred might bite you in the arse one day

[James Howells @howelzy]

Things we have learnt this week…

- Big blockers were right!
- BTC cannot clear 500k tx’s from the mempool.
- Ordinals, funny af.
- Core devs will censor transactions they do not like.
- Lightning Notwork is *still* a centralised bag of shite.
- Maxis are in meltdown mode.

🍿🍿

[Randy @nondualrandy]

Bitcoin has come a long way since its inception in 2008. It has evolved from a mere idea of a decentralized digital currency to a full-fledged network that has the potential to change the way we transact and trade globally.

However, the network is facing a major challenge - scalability.

The current transaction processing limit of 7 transactions per second is not sufficient for Bitcoin to become a mainstream currency. The solution is to scale on layer 1, which means increasing the block size limit and making it possible to process more transactions per second.

Scalability is not just about improving transaction speed, but it also has implications for transparency in trade globally. On-chain data can provide a high level of transparency that is not available in traditional financial systems and corrupt governments. The immutable nature of the blockchain allows for a transparent record of all transactions, which can help to prevent fraud, corruption, and money laundering.

In addition, on-chain data ownership is a crucial aspect of the Bitcoin network. It allows individuals to have control over their data and decide how it is used. This is in contrast to traditional financial systems where data ownership is often controlled by centralized institutions. With Bitcoin, individuals can choose to monetize their data.

The monetization of data is a potential new revenue stream for individuals and businesses. By having control over their data, individuals can choose to sell it to their fans and 3rd parties, which can result in a new source of income. This can be especially beneficial for those in developing countries where traditional financial systems are not accessible.

The need for Bitcoin to scale on layer 1 is vital for its continued success. On-chain data creates transparency in trade globally, and data ownership and monetizable data are key components of the Bitcoin network. By addressing the scalability issue, Bitcoin can become a mainstream currency that is accessible to all, and its potential for changing the way we transact and trade globally can be fully realized.

[CyP @cypherpunk__]

@NickLondon_14 @marxbys The channels are settled on Bitcoin which needs mining power.

If all the txs are happening on LN, then miners are missing out. They'll just move to another L1 chain which has massive tx volume, as soon as it becomes profitable.

[CyP @cypherpunk__]

@cyberat2600 @GlucoseNot @sinoTrinity It completely compiles down to Bitcoin script, that's the point.

[CyP @cypherpunk__]

@NickLondon_14 @marxbys It's unreliable and it doesn't fix the bigger problems with Bitcoin. Plus, Bitcoin can scale L1, but unfortunately the Bitcoin forks that do are just a political mess.

A L1 Bitcoin will always win the mining power over a L2 Bitcoin, think about it.

[Joe @timecoiner]

I think we want to make it clear this isn’t a capability BSV added. It was originally capable before there were any forks.

To be clear, BTC isn’t capable and I wouldn’t count on it changing. It’s simply a choice of Bitcoin always scaled L1 w/ advanced scripting or it didn’t and L2 is only way to have these desirable features.

[CyP @cypherpunk__]

@GlucoseNot @cyberat2600 @sinoTrinity Who's more likely to be right, the guy who's spent years single handedly researching and creating the best Bitcoin scripting language, or your average Bitcoin Maxi who can't think for himself

[CyP @cypherpunk__]

@cyberat2600 @Codenlighten1 @GlucoseNot @sinoTrinity @kurtwuckertjr @BWDaugherty @cryptoAcorns Do you have a problem with the tech? Or with Craig and Calvin?

[Bruce | OP_CAT 🐱 @bruceonbitcoin]

Yes, BSV is just the original bitcoin. Satoshi envisioned advanced L1 scripting, which is called smart contract today. He never mentioned L2 #bsv #bitcoinsatoshivision

[CyP @cypherpunk__]

@NickLondon_14 @marxbys It's been reliable and resilient, but it certainly doesn't alloe scalability, not in its current form.

If that was true, there wouldn't be 400k txs in the mempool and LN would be widely adopted.

There's a reason LN hasn't caught on.

L1 scaling > L2

[CyP @cypherpunk__]

@ordinalswallet

[CyP @cypherpunk__]

@NickLondon_14 @marxbys Try sending $10,000 right now and you'll see my point

[CyP @cypherpunk__]

@NickLondon_14 @marxbys Satoshi disappeared because he died, if he seen the state or crypto now, he'd have no choice to try and save his project

[CyP @cypherpunk__]

@NickLondon_14 @marxbys Also with LN:

It doesn't work