| > At the time of writing, the largest pool (Digital Foundry) currently has less than 1/3 of the total network hashrate. See for yourself here. https://miningpoolstats.stream/bitcoin So 2 pools control >50% of the network. Sorry, but when two entities can collude, push some malicious code, and cause widespread network issues that may result in a fork, you’re not really decentralized. > When I said that "Bitcoin makes it fundamentally and systemically difficult to exercise force against the network to shove in changes that the actual users of Bitcoin do not want", I didn't mean to suggest that makes it impossible, just fundamentally and systemically difficult Practically, this doesn’t matter. Who cares if you can’t double spend bitcoin, when your country bans the sale of bitcoin. (Assuming you don’t want to intentionally break laws) Unfortunately, the real world trumps the crypto world. > If you think I'm the metaphorical "fool being parted from his money", I'd invite you to take the other side of the trade and profit from my willingness to buy what I see value in. That's how markets set prices, that's how we're supposed to do this. I’m sorry, but just because you’re a fool, so to speak, does not mean that there’s value in bitcoin.
Just value in separating fools from their money (which I hear happens quite easily) Market prices shouldn’t be set solely on the speculation of retail investors… > Monero is a very different idea than Bitcoin Not with regards to my argument. Implementation details don’t really matter. > but controlled by the very wealthy, and is also used to coerce and internationally bully, in ways that Bitcoin does not allow. I don’t think this is true. Most ways to abuse the dollar and bitcoin are similar.
Get someone to believe some falsehood, and profit off of it. The consensus algo for bitcoin specifically avoids double spending, but other than that, what abuses are you specifically referring to? What can be abused for fraud in USD that absolutely can not with bitcoin? > That's not the only utility I find in it I am genuinely curious as to what utility that is. > By 'gaming', do you mean like 'gaming the system' No, sorry. I meant “gambling” but I am typing on my phone, so autocorrect must’ve got me. I understand the promise of cryptocurrency, but I also understand that, practically, current implementations don’t provide that promise. I used to see a lot of talk about decentralized internet pre 2020, but that seems to have almost entirely faded away since speculative markets are more viral. Not only is the technology not solving any problems it set out to solve, but the whole crypto community is infested with scams and those preying on greater fools. The technology isn’t there and the community (at least the loudest voices) are gross. That’s why you get such visceral outcry against crypto too, imo. > I'm familiar with Bitcoin's historical connection with scammers and bad actors Way to downplay it. I’ve never seen another technology be used solely for scams the way crypto markets have. |