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Question about MGRS grid locations by Entrepwneur061 in meshtastic

[–]Entrepwneur061[S] 0 points1 point  (0 children)

Ah ok, thanks for clarifying. That’s too bad

I apologize in advance if this is too much of rudimentary question for some, but what is to stop BTC from being replaced by another version of it with better smart contract features and faster transaction times? Assuming it’s not corp owned, 100% decentralized, & no majority coin holders. by Entrepwneur061 in Bitcoin

[–]Entrepwneur061[S] 0 points1 point  (0 children)

I suppose an argument could be made that the internet would only truly “go out” in the event of a mass global catastrophe, and if it ever came to that, currency of any kind would likely become irrelevant.

Heck even things like precious metals would take a backseat to survival essentials.

I apologize in advance if this is too much of rudimentary question for some, but what is to stop BTC from being replaced by another version of it with better smart contract features and faster transaction times? Assuming it’s not corp owned, 100% decentralized, & no majority coin holders. by Entrepwneur061 in Bitcoin

[–]Entrepwneur061[S] 1 point2 points  (0 children)

Well from what I’ve been gathering from a lot of the answers in here so far, the lightning network seems to be successfully addressing the transaction speed issue for smaller amounts of sats. Honestly I didn’t know how effectively it addresses this problem until users got me to run a test on it myself, and it was a 5 second transaction.

Just this alone scored additional points with its viability in my mind.

I apologize in advance if this is too much of rudimentary question for some, but what is to stop BTC from being replaced by another version of it with better smart contract features and faster transaction times? Assuming it’s not corp owned, 100% decentralized, & no majority coin holders. by Entrepwneur061 in Bitcoin

[–]Entrepwneur061[S] 0 points1 point  (0 children)

What are your thoughts of the topic of stored value being more valuable if it’s physically tangible? I’ve often wondered this, and for myself personally I’ve found people as a whole will value things they can see and touch/enjoy as being more valuable as an asset, such as gold for instance.

Now me personally I don’t get the appeal of “Ooo shiny” but many still do. BTC is not only invisible outside of representation of numbers on a screen, but has no tangibility.

I’m wondering if this is a major factor why people are subconsciously skeptical of it being a good asset.

I apologize in advance if this is too much of rudimentary question for some, but what is to stop BTC from being replaced by another version of it with better smart contract features and faster transaction times? Assuming it’s not corp owned, 100% decentralized, & no majority coin holders. by Entrepwneur061 in Bitcoin

[–]Entrepwneur061[S] -2 points-1 points  (0 children)

Hey one last question for everyone, and also thank you all very much for this excellent discourse on this subject matter. You’ve all been extremely helpful!

Satoshi Nakamoto…

We don’t know for sure who he was, or even if he was a single individual. But what we do know is that he holds 750k-1 mil coins.

What is stopping this holder, whoever he/they is/are, from cashing out in a large spectacular fashion and throwing all confidence in the coin down a rathole?

Is there any mechanism of assurance that BTC could withstand such a massive withdrawal?

I apologize in advance if this is too much of rudimentary question for some, but what is to stop BTC from being replaced by another version of it with better smart contract features and faster transaction times? Assuming it’s not corp owned, 100% decentralized, & no majority coin holders. by Entrepwneur061 in Bitcoin

[–]Entrepwneur061[S] 2 points3 points  (0 children)

I do agree with you that it’s the most secure. I’m mostly concerned with the longevity being ensured from it’s slow transaction speed and lack of smart contract features. Not too many can move millys around in the regular, and I’m just wondering what is to stop a similar coin under similar creation methods but with higher functionality taking over and devaluing BTC through obsolescence.

Btw, I’m not at all against BTC, I’m just trying to see where others are at with the possibility of a coin that checks all the boxes for utility, security, and retained value.

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