mk on Warpcast

mk pfp

If the world is to flee into a digital asset, Bitcoin just isn’t going to cut it. Bitcoin is difficult to transact. It’s difficult to trade without a third party taking custody. Mining is energy intensive and physical centralized. It hardly suffices for that role at this time.

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Daniel Lombraña pfp

Daniel Lombraña

Do you think that in the case of Bitcoin or any other crypto replacing paper money, governments will not try to touch internet providers? Would love to know how difficult would be to transact if govs intervine network providers. We don't have a decentralized web without big corps right now unfortunately.

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Shashank pfp

is holding/ transacting WBTC on ethereum a more practical solution?not sure how WBTC pegged to BTC tho

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Jai Bhavnani pfp

Yet it has the most memetic value to replace USD, so far

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Alberto Ornaghi pfp

Alberto Ornaghi

What’s difficult in transacting BTC?

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Syed Shah🏴‍☠️🌊 pfp

Syed Shah🏴‍☠️🌊

Knowing Polygon’s biz dev watch it be them.

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Colin Johnson 💭 pfp

Colin Johnson 💭

None of those prohibits it from being a sizable, alternative sanctuary for the extremely wealthy, though. Not a BTC maxi but I do find the value prop compelling, and will always own *some*

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7858 pfp

In a true meltdown we’ll probably see ~3 chains emerge as schelling points for different needs Btc for security and stability despite drawbacks. Eth for complexity and best balance of all worlds. Some high throughput shitcoin for coffee.

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Hexidethmal 🟪 pfp

Hexidethmal 🟪

If we get anywhere near a real banking/tradfi failure, we'll actually need a full credibly neutral, decentralized, permissionless financial *system* (DEXs, lending, capital formation, notary, etc) Ethereum is the complete escape hatch.

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aferg pfp

@aaronrferguson.eth

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Tayyab - d/acc pfp

It’s also too concentrated. It would result in more wealth disparity than what already exists.

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welter pfp

imo, bitcoin isn't supposed to be transacted as frequent as the dollar, its a store of value but you swap it for your local currency when you need to use it

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notdevin pfp

This perspective is always a foreign concept to me. Bitcoin provides an always on pricing reference. This function to a network of value is = to the timing function provide by an atomic clock to a data network The lack of features is true of course, but that itself is a feature not a bug

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Matt Lee pfp

Energy will become cheaper especially for geography-independent uses. Doesn’t slowness make it more secure?

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Brent Fitzgerald pfp

Brent Fitzgerald

Agreed. The world fully embracing bitcoin would further incentivize mining and accelerate its environmental impact. We need to do better.

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Roman Giler pfp

It’s the most immutable chain we have, from speculative reasons that is why it might become the digital version of store of value, if you believe that narrative. I am on the fence but to be honest I haven’t seen a better asset in crypto for long term value proposition.

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Fred Blauer pfp

I quite agree. But many people are looking at it as a substitute for gold, which is even more difficult to transact, energy intensive etc there is a perception that it is the most decentralized and secure. I don't know if that is true

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RedVan pfp

If this were to happen over night, probably BTC and ETH. With greater flows to ETH/SOL/L2s over time- faster txs, smart contracts, deep dev communities. BTC would be around as a stable coin or bond type asset at that point.

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