Message from @.B
Discord ID: 492701822025465875
ERC20s are scams
yeah
most people still think it's a scam, we're still early adopters though
btc was a lesson in why laziness is bad, ime. "huh this silk road thing looks neat. I look into getting bitcoin for.it tomorrow" and tomorrow never came. And a few years later it broke 20grand xD
this was mfw
BTC transactions take way too long and it's so volatile that by the time the transaction has completely you might have lost a few percent.
For regular purchases you need the transaction to be completed in a few minutes, or else you need a very stable price.
And the crypto that will survive is the one that can be used for purchases, because that's the only thing that gives it value. If it can't be used as a medium of exchange then it's just bits with interesting properties.
Yeah, purchase with stores will be the big thing. It's really niche atm. I'll use that or eth for transactions but theyre typicall from very niche vendors.
BTC isn't too bad for latency right at this moment, but earlier this year it was retarded. Hours and hours and hours.
ETH is not really beating BTC in terms of latency right now, but it didn't have the same ridiculous peaks.
you can't complain about latency
latency is a given in Blockchain
yeah, but if there's massive volatility at the same time as massive latency you have severe issues.
transactions where you can lose your entire profit margin.
there isn't "massive latency", you compete to have your transaction done
if there's more competition and you pay low, it takes more time
a few minutes is generally not enough for that to be an issue, but a few hours coupled with 10-15% price swings in a day is.
i don't care how the software works. i care about not losing money when i sell something.
profit margin doesn't come into play, most profit is done off-chain
>i don't care how the software works.
here is your **problem**
ignorance
the ignorance goes both ways here because you're ignorant of what vendors care about.
they simply won't use cryptocurrencies
¯\_(ツ)_/¯
and if vendors aren't going to use btc because they routinely lose on transaction, then btc is not going to gain widespread use.
or they use a middleman
like most do
MOST btc transactions are off-chain
and the value of the currency is contingent on it being a widely used medium of exchange. if it isn't then it's just ones and zeros.
if you don't understand that merchant trades don't even do BTC transactions, all this discussion is a waste of time
you use a middleman, transactions are instant
done
most ERC20 tokens are doing most shit off-chain and companies keep throwing money at it
>the crypto that will survive is the one that can be used for purchases
so btc then
because lightning network
blockchain is way more than currencires