2021-05-24 03:58:58
Solutions Bitcoin Could Implement Right Now to Get Everyone Rich and Solve Mad Problems 1. Move the decimal two places to the right. So if you have 1 bitcoin, it shows up as 100 ; or if you have 0.003, it would be 0.3 /// One of the biggest issue for Bitcoin's price (in the real world & for fees) is rooted in its denomination. This would also make the currency psychologically feel a lot more flexible than it is (i.e., having to plop down $30k+ just to have one BTC).
2. Increase the block size - obviously. Everyone should be in unanimous agreement with this. 1MB block size in 2021 is outrageously fucking unacceptable. A 10-year old raspberry pi running Ubuntu 14 with a RISC-V chip should be able to handle an increase at this point.
3. Decrease the block times and also cut down the difficulty retargeting time by 50% (to start, with a gradual goal of getting down to a minute within the next couple of years)
4. Publish a concrete, public roadmap for swapping out the cryptographic primitives that Bitcoin uses. Quantum computers are really on the horizon and must be addressed sooner or later. Its not a math & it isn't a theory. They exist now and are already capable of crunching computations in a manner that confers an advantage to them vs. modern computing's ability
5. Abandon the idea of a Genesis Block and start checkpointing the chain. When there was a value overflow incident back in 2010 , Satoshi and others were able to coordinate w a plan to omit the erroneous TX by forking to another block. But that's the story we've been told. Who knows, maybe that never happened and they said they did (being devil's advocate; we know that it happened). Main point being that there is a philosophical constraint to the proven legitimacy of the data - even if you do keep the entire dating back to Genesis. Whether the network is compromised or not is always going to be a subjective assessment by those that interact with it (more ideas attached to this; but the basic concept should be entertained)
6. Begin exploring ideas that would allow the Bitcoin network (nodes) to be leveraged to relay something else other than transactions (and perhaps even be paid in Bitcoin for it). They were able to figure something out very similar to this for Stratum - no reason why it can't happen for Bitcoin too.
Those behind 'Bitcoin Core' / 'Blockstream' etc., are fucking up this space and people are letting them because they allow themselves to get pimped by the media in blockchain to support / oppose certain ideas that never obtained the consensus of the community.
Need proof? If you dig into Core's conversations, you can see that they've always felt like taproot would be a guarantee.
Don't be part of the first generation of "blockchain adopters", that never really got introduced to blockchain on any substantive level yet assumed that they did and ended up going broke trying to get rich quick.
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