Telephone communications could not be built upon, unlike the internet, and bitcoin.
Bitcoin performs the base layer function of storing and transferring value in a decentralised and secure manner perfectly, and that’s all it needs to do.
Privacy tech or faster transactions are already built on layer 2.
If theres any more technological innovations on money, it will be built upon the bitcoin stack.
If the innovation is not about money, it won’t compete with bitcoin.
Just like how any communications innovation, like Nostr, is built on top of the internet stack, instead of inventing a whole new protocol that competes with the internet.
Replies (3)
But telephone communications has been built upon. First with mobile phones, then text messages, then internet calls on WhatsApp, plus social media, banking apps, Discord chat rooms, etc., have all been built on top of what was just a telephone. Satoshi is like Alexander Graham Bell, except technology is moving much faster today than in Bell's day.
It is very hard to be confident than BTC's vision of money will still apply in the years to come.
To clarify, that leaves Bitcoin as a coin open to being dropped.
And other protocol's could surpass Bitcoin's. Ethereum is a separate protocol, for example. Who knows what will be created in the coming years.
Sorry for the multiple posts. You may just answer my longer post to keep the thread tidy.
