cflynnus

I have no problem with the Tesla touchscreen. I don't want a car with physical buttons.

yup

Thinking CBDCs are “safe” is extremely naive. They’re a dystopian nightmare. They’re every dictators wet dream. This is why Bitcoin matters. Bitcoin = freedom.

It's not good money if it's properties can be changed, especially it's supply.

If it's centralized it's garbage and it doesn't matter whatever its roadmap is. Also ETH wont implement sharding because its breaks composability. It's just marketing.

zoom out

Gold standard was nixed because the government wanted to be able to create new money out of thin air and give it to itself. Simple as that.

I don't care about securities law or what the US government does towards crypto. My point is that these ARE securities and bitcoin IS a commodity. When people truly understand this they realize owning anything crypto is akin to buying penny stocks and Bitcoin is basically digital gold 2.0

Having a roadmap is no merit. A roadmap means the system is centralized because a core group of people can change the rules. If it's centralized it's not censorship resistant and the supply can't be guaranteed to not increase and dilute holders therefore it's garbage.

> Bitcoin does not have Turing-complete scripting

Feature not a bug. Base layer that will serve as foundation for entire global economy should be as simple as possible to make it as reliable as possible. Like all complex systems, functionality is added in layers. Things like lightning network and fedimints are examples of such layers.

> It's great that there's 21M supply cap.

Fixed supply is an essential requirement for the entire system to have any merit whatsoever. If supply can change at direction of core group of insiders it's just the same thing as the existing fiat banking system and the real value of the tokens will be diluted in perpetuity.

> But absolutely useless for software engineers to build financial primitives on top of.

No. See comment above about layers.

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Bitcoin is a commodity, ETH & all of crypto is just (unregistered) securities lying/pretending to be commodities.

IMO it applies to anything/everything "crypto" - it's all just unregistered securities lying/pretending to be commodities. It's all just scams.

Bitcoin, however, truly is a commodity and is decentralized.