Twetch ·
Thank you to Taal’s Jerry Chan for your participation at the Japanese Bitcoin study group. My takeaway, Bitcoin is many years away from true mass adoption. Also your articulation of how the CSW lawsuit is a death sentence for lightening was fascinating.
Replies
Twetch ·
link?
Twetch ·
https://ishida004.github.io/studybsv/
I have no idea if/when they will post a video replay (above link also links to their YouTube page).
I will make a couple points in this thread which I noted, about the Q&A, later today.
Twetch ·
TAAL is developing, and supporting, IP relating to token technology STAS (Substantiated Tokens by Actualizing Satoshi). Turning Satoshi’s back into a different token, causes an ongoing inherent demand for Satoshi’s as the conversation process into a...
Twetch ·
... different token (that represents something else in the real world) requires Satoshi’s. STAS therefore promotes collection, trading and redemption as they have a Satoshi value.
Twetch ·
If JC “had to guess” he believes “maybe by the end of this year” BSV will be processing blocks always of 10mb or more 24/7.
I asked this question as I view 10mb, for every single block produced, as a clear enough chasm between BSV and every other project.
Twetch ·
soon
Twetch ·
JC’s lightening comments were very illuminating, I’m so impressed every time I hear him speak.
Lightening depends on the Bitcoin that is locked in the channels. If courts agree that stolen Bitcoin can be taken back by the courts issuing rulings then...
Twetch ·
... the BTC mantra of “the government can’t take my money”, etc is all wrong. The courts could rule these Bitcoins, at this address, need to be frozen, or reassigned to this other address, and the miners have the software to do this. Under this ruling, ...
Twetch ·
... there’s no such thing as consensus, the idea that the technology is more powerful than law crumbles. If this occurs then lightening is completely broken because it depends on the Bitcoins under it never to move unless it’s done via the protocol....
Twetch ·
... If the courts dictate those Bitcoins need to move then you have to unwind all the lightening channels that are related and because lightening doesn’t keep records you can’t unwind. You can’t undue all the channels. So lightening is completely broken.
Twetch ·
After hearing JC’s excellent articulation is it any wonder the usual suspects of BTC are proverbially soiling their pants at the prospect of this latest CSW litigation? It’s a black swan event. As is always the case with the law, snail pace to find out.
Twetch ·
Indeed!
Imho a wise play would be to get an allocation of Taal and BSV (in paper wallet) directly proportional to how much you can afford to lose should both die off, then walk away live your life and return in 10 yrs time to discover if it’s zero or mars.
Twetch ·
For the rest of us we will spend and replenish our usage BSV as slowly the amount of retail use cases keep expanding. It’s the accumulation of these tiny steps which combined will lead to the Bitcoin world emerging. It’s a slow grind to the victory line.
Twetch ·
that's we we were in like, 2013
Twetch ·
Well, that would mean a 10x on price by velocity of money....not bad at all
Twetch ·
Not bad.
https://twetch.app/t/fa2a1700f3539fffb05298806a547cb500a5c85888eee46dcadd05bcc36761b0
Twetch ·
I actually think your above comment is 100% spot on. And that's how I treat my investments.
Twetch ·
That 10x assumes that the current price is a true reflection of BSV’s existing intrinsic worth. BSV consistently generates circa $1 block fees. IMHO, no way should BSV be as “high” as it is. 24/7 10 mb blocks will be very positive news.
BTC $50k is a joke.
Twetch ·
“Lost coins only make everyone else's coins worth slightly more. Think of it as a donation to everyone."
- Satoshi
Coins removed from circulation increases value remaining left in the pool. Hodl’ing is essentially the same, albeit on a shorter timeframe.
Twetch ·
Imho, clearly Satoshi saw the value proposition of removing coins out of circulation. By rejecting hodl’ing as being part of the mix along with usage (spend and replace), many in BSV have really missed out a lot of value from rival project (scams).