Why Everything That Isn’t Bitcoin Will Fail: Absolute mathematical scarcity, achieved by consensus in a decentralized network, was a DISCOVERY, rather than an invention. It cannot be achieved again by others aware of it, since the very thing discovered was resistance to replicability itself. #Isnt #Bitcoin #Fail #Absolute #mathematical #scarcity #achieved #consensus #decentralized #network #DISCOVERY #invention #achieved #aware #discovered #resistance #replicability


Why Every little thing That Isn’t Bitcoin Will Fall short: Complete mathematical scarcity, accomplished by consensus in a decentralized network, was a DISCOVERY, instead than an invention. It cannot be obtained once again by other folks informed of it, because the pretty detail found was resistance to replicability alone.

Why Everything That Isn’t Bitcoin Will Fail: Absolute mathematical scarcity, achieved by consensus in a decentralized network, was a DISCOVERY, rather than an invention. It cannot be achieved again by others aware of it, since the very thing discovered was resistance to replicability itself. from Bitcoin


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Comments (16)

  • rocasv Reply

    only a Sith deals in absolutes…

    September 23, 2022 at 10:59 pm
  • Wise-Application-144 Reply

    One of the few criticisms of Bitcoin that I think is actually valid is the replicability of it – anyone can create a new crypto.

    That implies Bitcoin must currenly have value because of the network effect. That’s what sustains many software-heavy organisations like Facebook or Wikipedia. Their content can actually be copied really easily, the value is in the number of humans who are users and would be resistant to move to a competitor.

    So whilst that’s not necessarily a bad thing, it means Bitcoin is fallible, and it’s one of the few things that keeps me awake at night. A bit like Myspace, people might eventually migrate to something better.

    ​

    The notion that Bitcoin has a uniquiness and an immutability because of its status as a step-change in the human race is interesting.

    It almost takes it into the territory of art, patents or world records or something. Like the first person to climb Mount Everest will always hold that status, even if others subsequently climb it. Or the first person to write a song is the one who holds the value, even if other people sing it.

    I’m not sure if I completely buy it, but it’s an interesting argument.

    September 23, 2022 at 10:59 pm
  • downtownjj Reply

    i see no lies

    September 23, 2022 at 10:59 pm
  • InternationalRadio1 Reply

    Wrong…and I like bitcoin

    September 23, 2022 at 10:59 pm
  • ReitHodlr Reply

    Not surprised this is PRO Bitcoin only and everything else is “BAD” but everyone needs to first understand [Bitcoin Maximalism ](https://bitcoinmagazine.com/culture/what-toxic-bitcoin-maximalism-means-to-onlookers) . I have nothing against the idea of BTC. I own some Bitcoin but am never going to hate on someone for not using or stacking up on sats. You can own and use Bitcoin just like everyone else has their right to only use whatever altcoins in their environment or fiat money in the real world. The real value is in the currency that you wish to use and where it can be used. If the world falls completely apart, BTC, Altcoins or fiat money isn’t going to be worth anything. Guns, water/food and ammo are going to be the real currency.

    September 23, 2022 at 10:59 pm
  • hiddenonion Reply

    Unless another discovery is made that makes the previous one obsolete

    September 23, 2022 at 10:59 pm
  • Jonny_Zuhalter Reply

    Scarcity in BTC was neither “discovered” nor “invented”. It was designed on purpose as a feature.

    September 23, 2022 at 10:59 pm
  • handbanana84 Reply

    in order to claim that digital scarcity is “achieved” we need proof that bitcoin is infallible. we don’t even know if bitcoin’s one-way functions are truly one way and if those functions [exist](https://en.wikipedia.org/wiki/P_versus_NP_problem). and even if we prove cryptography is all good, bitcoin may one day fail under social attacks or something else. we can never know, need infinite time

    bitgold was “discovered” in 1998 and for a brief moment that was a discovery of absolute mathematical scarcity achieved by a decentralized network. turns out it’s vulnerable to sybil attacks. it could turn out bitcoin is vulnerable to something too.

    this argument sounds nice, but it’s essentially bullshit. i’m bitcoin only, but for other reasons

    September 23, 2022 at 10:59 pm
  • tuyguy Reply

    Hmm I don’t really buy this argument. A revolutionary invention, sure. But to say that no-one ever possibly can invent a better blockchain? Bit much. I say this as a quasi bitcoin maxi.

    September 23, 2022 at 10:59 pm
  • lightbulb-7 Reply

    Though I wouldn’t focus the video on whether shitcoins are all scams or not, it’s definitely true that so far Bitcoin is the best layer 1 monetary network ever created. And the fact that it’s truly decentralized makes it’s growth totally organic and unstoppable, which is super sexy. (Side note: it still amazes me how few understand this!)

    Looking forward for Lightning to increase in liquidity and usage, so that we end up having a full-scale payment network totally able to onboard 8 billion people, and we opt out of the fiat slavery

    September 23, 2022 at 10:59 pm
  • Lstoochi Reply

    Crypto as a whole isn’t looking any hotter than the market soo

    September 23, 2022 at 10:59 pm
  • Remote-Chipmunk4470 Reply

    Hey thanks for taking the time to make this video. Well done. There’s a lot of hate here but that’s the internet for you. I hope this video gains traction and helps “the cause”. Bitcoin is a game where the more people who play the more everyone benefits, yet there are those who will shit on you for trying to bring more players in. My advice is don’t listen to those people.

    September 23, 2022 at 10:59 pm
  • anticonsumershill Reply

    Lotta buttcoiners in the comments lol

    September 23, 2022 at 10:59 pm
  • [deleted] Reply

    [deleted]

    September 23, 2022 at 10:59 pm
  • EarningsPal Reply

    Discovery #2, more can be done with a decentralized ledger than move around BTC.

    The additional utility is the value of the others. They have much more work to do and cannot duplicate what BTC does or fair worse than just holding BTC.

    BTC forks loose BTC value over time. But other ledgers can create utility value if their use case compels continued development and users to interact and store value.

    September 23, 2022 at 10:59 pm
  • ggasbarri Reply

    Someone hasn’t heard of Direct Current

    September 23, 2022 at 10:59 pm

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