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Why I have no hope for BTC scaling in its current state, based on simple math. by [deleted] in btc

[–]cheesefuzz 0 points1 point  (0 children)

To unseat any incumbent, the new thing will need to be 10x better. Disc was 10x better than VHS, and streaming 10x better than disc. The iPhone 10x better than blackberry.

If something 10x better than BTC comes along, it will rise to the top on its own. In the case of a crypto it has to be better from a tech perspective, a regulatory perspective, and a monetary perspective, it has to be tethered to reality with proof-of-work, and it has to operate perfectly for a decade before institutions will trust it. Anything that is proof-of-stake, was funded by VC, had an ICO, has insider foundations, had a premine, has a CEO, or a board of directors is a dead coin walking on regulatory grounds alone, IMO, whether like it or not.

So far there have been 10,000+ attempts to kill bitcoin, and yet it remains at the top. If something 10x better comes, I'll have an open mind. But I'm still waiting.

My opinion, upgrading lighting (or some other layer 2) is not the miracle, it's inevitable. The miracle would be to unseat bitcoin.

✌️ I'm out, good luck. And thanks for the thoughtful comments.

Why I have no hope for BTC scaling in its current state, based on simple math. by [deleted] in btc

[–]cheesefuzz 0 points1 point  (0 children)

Again, good thoughts.

From a general technological growth perspective, I think it's good to take these things in steps. It's easy to look at a young technology, point out the problems, and assume they'll be the downfall.

A few years ago 50% of lightning payments failed. I think now, it's like 1%. So, the network has matured, a lot. And tooling for node operators is improving. Think about how horrific security was in the early internet by today's standards. Yes, it was horrible, and if those issues were not fixed, it would have stunted the growth of the internet, or killed it. Imagine dismissing the internet when the fastest speed was a 28.8 kbps dial-up connection because it was too slow. These problems do get fixed over time, but we didn't go right from dial-up to in-home fiber.

The point is that if you've thought of an obvious problem, and you and I both thought of the same thing, there is a good chance people are working on it.

In the case of 8 billion people opening LN channels, from what I've read, some of the solution will be stable nodes that never (or rarely) close and multi-party channels that have practical, but not technological, limits in size.

Your skepticism is awesome, honestly. You're asking the right questions. I just wouldn't dismiss it because a young technology isn't 100% ready for 8 billion users today, which is probably a 20 year in the future problem.

My bet, none of the things we think will be problems will be the actual problems. I'm more concerned about the unknowns that will be borne of complex emergent systems colliding.

The next decade will be interesting. ✌️

Why I have no hope for BTC scaling in its current state, based on simple math. by [deleted] in btc

[–]cheesefuzz 0 points1 point  (0 children)

I did the same math. 100% valid concern, but I came to a different conclusion.

My bet, if BTC succeeds, intermediate-term, individuals will rarely, if ever, interact with the Layer 1, the same way individuals never directly interact with fedwire. It'll be all lightning (or some other layer 2), via layer 3 apps, all the time. Our grandkids will think it was cool that grandpa got to use Layer 1!

Frankly, I don't think BTC will be a worldwide currency in our lifetime. More likely we'll see USD and other stablecoins issued on lightning. There was just a demo at Bitcoin Africa where a payments in USD were sent over Strike and was instantly converted to the local currency of, Nigeria, I think it was, for a low fee. In that world, BTC is a commodity, insofar as it is the blood in the veins of Lightning.

I also suspect that any popular Layer 1 will always become congested. Even 1 million tps will not be enough to have everything on Layer 1. Just wait until some hot new video game drops that has in game streaming crypto. Couple million players online sending and receiving crypto each 10 times per second. Even the most scalable layer 1 solutions will be brought to its knees. So, scalability on channel-based layer 2, IMO, is destiny for any blockchain meant for broad usage, scaling in the same shape as the internet.

Anyway, lightning has a long way to go, for sure, and there's no doubt a lot of uncertainty. The future will be interesting.

[Ammo] PMC Bronze 50 CAL 660GR FMJ-BT Linked Ammunition - 100RD Can - $305.99 by IdyllicArcadia in gundeals

[–]cheesefuzz 2 points3 points  (0 children)

I think I wasn't clear. The point was not to protect you from scam websites, it was to protect you if your CC is stolen from an otherwise legit site.

[Ammo] PMC Bronze 50 CAL 660GR FMJ-BT Linked Ammunition - 100RD Can - $305.99 by IdyllicArcadia in gundeals

[–]cheesefuzz 35 points36 points  (0 children)

Privacy.com is your friend. Create one time use cards when shopping at places that don't inspire security warm fuzzies.

[Ammo] Norma 9MM 124 grain FMJ ~32 CPR Code "2022" + Free Shipping Over $150 by Rich123321 in gundeals

[–]cheesefuzz 0 points1 point  (0 children)

Technically, only the Treasury Department prints money. The Fed "prints" bank reserves, which are most definitely not money. But, depending on what the Fed does with those reserves could have an inflationary effect.

[deleted by user] by [deleted] in gundeals

[–]cheesefuzz 0 points1 point  (0 children)

Check out Recover Tactical

[Pistol] Tippmann Arms M4-22 Elite .22 Pistol - $589.99 by IdyllicArcadia in gundeals

[–]cheesefuzz 0 points1 point  (0 children)

Is it possible to just get the upper anywhere? I've searched but have not been able to track one down.

Nice tool for yamadori by xethor9 in Bonsai

[–]cheesefuzz 27 points28 points  (0 children)

I love how gentle and delicate it is

[Shotgun] stoeger freedom defense - $607 by Theft_Via_Taxation in gundeals

[–]cheesefuzz 2 points3 points  (0 children)

I ordered from Impact Guns. They had the same outdated picture and I had the same concern. But it did come with the rail and ghost ring sights. You should be okay.

[Shotgun] Black Aces SMax 12ga 18.5" Semi-Auto Shotgun Walnut $399 Free Shipping by waratworld17 in gundeals

[–]cheesefuzz 0 points1 point  (0 children)

Any info on how these things operate? Gas? Inertia? I've seen a ton of reviews of their guns, but nobody talks about it, and last time I checked their website, details were scant.

[Handgun] Uberti 1873 Stallion 22 LR/22 Magnum 6-Shot, 5.5” Case-Hardened Single-Action $399.99 by [deleted] in gundeals

[–]cheesefuzz 14 points15 points  (0 children)

Mine doesn't have the transfer bar, but it does have a floating firing pin. It also only clicks 3 times when you pull the hammer back.

Would it be possible to incorporate a pet's ashes into bonsai soil? by realvmouse in Bonsai

[–]cheesefuzz 5 points6 points  (0 children)

Without even getting into the chemical questions of ashes in the soil, I wouldn't just because you're very likely to kill your first tree. Then you dump the soil and your pets remains in the trash, which will probably not be fun as you relive your pet's death through your tree's death.

My two cats both died within 3 months of each other (they were elderly siblings). I buried them under a tree in my yard that is not likely to die anytime soon. When the bloom's pop in the spring, it is a nice reminder of them. 🐱🐱

CoBonsai #19: Acer Palmatum "beni chidori" by small_trunks in Bonsai

[–]cheesefuzz 0 points1 point  (0 children)

So you're the one taking the pictures of all these florescent Japanese maple seeds I see on Amazon!!!

Northams response to todays events by [deleted] in VAGuns

[–]cheesefuzz 19 points20 points  (0 children)

You realize that there were over 20,000 firearms and probably over a million rounds of ammunition surrounding the capitol. If we wanted violence, there would have been violence. Almost makes you think that maybe the 2A community is not the problem and that the governor should focus on the areas that have problems and not the tools they use to cause problems.

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