Small blocks and lack of privacy are the two greatest reasons for Bitcoin's now inevitable regulatory and corporate capture. If you can't see it now I don't think you will ever see it.
A cheap, quick and private monetary network will always have advantages to whatever the state creates. A transparent, expensive and slow network will perpetually falter.
Replies (4)
Heard of lightning?
Lol. I'm extremely familiar with lightning. It is not a scaling instrument as its scale as a self custodial private means of exchange depends on the L1. The fee market determines the minimum force closure cost which affects the minimum safe balance to hold, and also determines how expensive channels are to open. Privacy is extremely network dependent and relies on strong UTXO hygiene and TCP/IP obfuscation above the base protocol.
All that doesn't matter anyway because most use lightning custodially or semi-custodially which beings me back to my original point of inevitable corporate and regulatory capture.
The ONLY thing that makess bitcoin unique is decentralisation. There are a 1000 networks offering, cheap, quick, private transactions. All of these have/will fail due to centralisation. If everything else is compromised to ensure decentralisation in the long term then that's a compromise we have to make.
Patently false. Bitcoin is extremely centralized due to custodial holdings, KYC chokepoints, centralized ASIC mining, HODL culture demonizing p2p cash usage, and a weak node running culture.
Monero is easily one of the most decentralized cryptocurrencies due to ASIC resistant mining, broad delistings, and a strong culture of p2p utilization. You don't know this because you max out in Bitcoin maxi podcasts all day.
Centralization isn't a number you can point to. It requires a holistic view of all the centralization forces, and Bitcoin is becoming extremely centralized in many of these areas.
