A financial bubble means that for an asset like Bitcoin the use as a store of value grows exponentially. The rules of math determine that this can‘t happen sustainable and that it reaches with a pace, that must seem surprisingly for human minds, the point where it is „too high.“ From here the use as a store of value decreases constrainingly. The bullmarket has become a bearmarket. To get out of it, to enspark another turn toward raising prices, there needs to be a growth in the use of the function which underlies the asset. For Bitcoin this is the p2p e-cash system. 1/8
Technically, the road of SegWit and Lightning is conservative: It guarantees the stability of the decentral network of nodes, which constitutes Bitcoin technologically, while building an optional infrastructure which allows high scaling and growth of use. Seen from the side of the ecosystem, Lightning demands the maximum will to self-disrupt. It transforms every economic interactions made with Bitcoin in a way, whose consequences are unpredictable for users, companies and regulators. 7/8
The result is, that Lightning made Bitcoin to an experiment with an unknown outcome. It could happen, that Lightning does what it is promised to do and reinforced the needed growth. But it could also happen that Lightning transforms the entire Bitcoin ecosystem in a failed experiment of technocracy. 8/8
Memo is the first dapp that has more users than investors.
Stefan Molyneux predicts Blockstream takeover of Bitcoin in 2014:
Nice. How about adding #video support? I guess with some external hosting like #ipfs?
A translation of satoshis into USD might be useful too. Do I send donations via the #memo tip jar?
Video support is planned. IPFS is currently the top choice for hosting. USD translations would be good. Thanks for the input. Yes, tipping is a great way to donate :)
"Racism is the lowest, most crudely primitive form of collectivism." - Ayn Rand
