makeasnek
It doesn’t. You can run a node on a raspberry pi. The only time having a large amount of liquidity matters is for sending large payments, but multi-channel payments are becoming a thing (break payments up until several smaller payments) so even that is not a problem long-term.
both credit/ debit and crypto rely on some sort of network
Credit/debit rely on centralized networks which will have more of the same systems running the same software. Bitcoin is decentralized, running on several versions of several softwares and updates don’t roll out to the entire network at once. Much more resistant to this kind of outage. Which is why Bitcoin has a better uptime than pretty much any bank or other financial provider. It’s simply more resistant to this kind of failure.
Trump has tried to distance himself from Project 2025, but it is clear that he supports and is supported[1] by Project 2025’s many authors[2] including his own press secretary and many members of his cabinet. He has, for example, called Project 2025 “our agenda”[4] and is personally mentioned hundreds of times in the document. By the Heritage Foundation’s own count, Trump already implemented a majority of their recommendations during his last term [3] and 81% of Project 2025’s authors held official appointments in his administration[5].
2 https://www.msnbc.com/opinion/msnbc-opinion/trump-project-2025-truth-social-rcna160774
Bitcoin lightning is absolutely hilarious. Your solution to Bitcoins problems is - not using Bitcoin. Wow, galaxy brain move.
Bitcoin lightning is Bitcoin. It’s a smart contract on the Bitcoin main chain. You move Bitcoin “into” lightning by sending it to that smart contract, you move it “out of” lightning by having that smart contract close. It inherits the security of Bitcoin main chain while getting the transaction speed of off-chain.
Agree to disagree about the rest. Energy use like carbon footprint is about “where you draw the box”. Off-peak demand is the cheapest power available, and it tends to be renewable. That trend continues to escalate.
<1% of global energy use to process billions of value transfer every year. Lightning transactions have the energy usage equivalent of an e-mail since they don’t go on chain. Main chain, via lightning and other L2 solutions, can process and secure trillions of transactions per year.
I see this comment every now and then, and it always forgets the cost of the transaction, confirmation time
With Bitcoin lightning the confirmation time is under a second and you pay pennies in fees as you don’t make the transaction on the main chain. Even main chain is like $1.50 for a 10 minute confirmation time which for many transactions like an international wire is still a great deal.
The energy cost is extraordinary, and the end user is taxed for the use of their own dollars.
The energy cost to maintain the base chain is <1% of global energy use, mostly from renewables at off-peak hours since miners have to chase the cheapest electricity. Remittance services and other funds transfer companies also use energy and human capital to move value around, it’s not free. A single on-chain tx can open a lightning channel which can contain and secure trillions of transactions off-chain. Processing these transactions takes the energy equivalent of sending an e-mail. Users are “taxed for the use of their own dollars” in regular currency as well. Who pays that tax and the amount of that tax varies by context.
It can’t scale
In the last two months alone, Nostr users (decentralized twitter clone like Mastodon) sent each other 3 million tips over Bitcoin lightning. It absolutely scales. And there is plenty of more room to grow.
Its value only increases because it manufactures its own scarcity.
Its value also comes from its use as a transactional network and from it’s political neutrality geopolitically speaking. And from the known supply which nobody can manipulate. It’s not purely scarcity.
naturally moves toward centralization since mining becomes too large an activity for the individual to reap any benefit
And yet mining is still distributed globally. Any person, company, or country with spare energy resources can buy an ASIC and mine. Mining pools have become more centralized, but a lot of work has been done on that in recent years and that trend is reversing as a result.
Scaling block size is not a long-term scalability solution. Bitcoin Cash forked from Bitcoin to double the block size. Then they doubled it again. They continued this and it’s now 16x Bitcoin’s block size and there are calls to double it again because “fees are too high”. Increased block size=increased resources to run a node. It’s why most of Ethereum’s nodes are hosted in one of three corporate datacenters. Very dangerous for decentralization.
All of humanity’s transactions shouldn’t be stored on the ledger, permanently, forever. That is a waste of resources and totally madness. L2s are the solution, they use the main chain for security but store transaction data off-chain. They also inherently increase privacy. Bitcoin has lightning and (soon) Ark. Lightning is secure, mature technology and it works without sacrificing decentralization. In the last two months alone, it has been used by Nostr users (decentralized twitter clone similar to mastodon) to send over three million tips in the last two months. None of those tips were on the Bitcoin ledger because none of them need to be.
Bitcoin wasn’t down. Hasn’t had a single hour of downtime or hack since it started 15 years ago in 2008. No bank holidays. Clear and transparent supply, 100% open source code. Not run by any single government, corporate board, or CEO. Sends money across the globe in under a second for pennies in fees, all you need is a phone. Powerful stuff.
You’ll also lose primary voters. I voted in the primaries, there were multiple candidates, Biden lost the primary in American Samoa. If you throw away my primary vote by swapping in another anointed candidate, why would I ever vote in your primaries again? What is even the point? It’s like the DNC learned nothing from the debacle of them trying to squeeze Bernie out of the race (thank you Wikileaks for revealing their corrupt BS and causing reforms to the primary process). They lost a lot of voters doing that.
I hate the RNC, but if they are the only party that will respect my primary vote, they are the primary I will vote in next election. Dems switching primaries like this may produce a more moderate republican candidate, which is bad news for dems, since they won’t just be able to run on “The RNC is run by crazy christian fascists who want to take all your rights away”.
Not a distro but Qubes. Incredible security and privacy out of the box. Not for everyone but absolutely one of the most interesting developments in the OS world in the past decade or two.
