Bitcoins/Litecoins/Virtual Currencies

  • Guest, it's time once again for the hotly contested and exciting FoH Asshat Tournament!



    Go here and fill out your bracket!
    Who's been the biggest Asshat in the last year? Once again, only you can decide!

James

Ahn'Qiraj Raider
2,804
7,056
Adoption by Users = BTC wins

No it doesn't, measure these from the start of the year, active and new addresses for BTC has gone down since Jan 1, Ethereum has increased in both. Further, I believe it's standard operating procedure in Bitcoin to use a different wallet address for every transaction, correct me if I'm wrong.

Their use cases are just so wildly different tho.

They're only wildly different in that Ethereum is a more generalized blockchain than Bitcoin is, which means Ethereum can replicate 100% of BTC functionality while the opposite is not true whatsoever. Thinking that L2 solutions are going to solve Bitcoin scalability problems is exactly the Bitcoin maximalist fantasy that needs to be crushed.
 

Tmac

Adventurer
<Gold Donor>
9,207
15,649
No it doesn't, measure these from the start of the year, active and new addresses for BTC has gone down since Jan 1, Ethereum has increased in both. Further, I believe it's standard operating procedure in Bitcoin to use a different wallet address for every transaction, correct me if I'm wrong.

The gap has decreased since January, but BTC is still kang kang. That doesn't mean ETH is winning. It means they're losing by a small margin.

They're only wildly different in that Ethereum is a more generalized blockchain than Bitcoin is, which means Ethereum can replicate 100% of BTC functionality while the opposite is not true whatsoever. Thinking that L2 solutions are going to solve Bitcoin scalability problems is exactly the Bitcoin maximalist fantasy that needs to be crushed.

Yes. But, the BTC use case is easy for people to understand, hence more aggressive and widespread adoption. This thread has been here for years and ten pages ago several of us were asking you to explain ETH as a new internet and I still don't totally get it. If it's not easy for people to understand, it's not going to be easy for people to adopt.

Just because you see it, doesn't mean that everyone else does and will easily adopt it. This is my point with ETH and a lot of your criticisms of BTC. You and the ETH maximalists don't do enough to simplify the use-cases so us plebs can understand it and thereby adopt it.

Without vision, the people perish. People have to have vision to get behind something.
 

Tmac

Adventurer
<Gold Donor>
9,207
15,649
Google is probably the best example.

When they launched all of their competitors had ads and news and a bunch of random shit that confused the purpose of a search engine. Google just said, "Search". It was much easier for people to understand and use.

ETH doesn't do a good job of explaining why it's a better mousetrap yet. BTC does a good job of explaining why it's better than fiat.
 
  • 1Like
Reactions: 1 user

Rajaah

Honorable Member
<Gold Donor>
11,003
14,659
20210617_162317.jpg

*presses the button* It is done.

::thunder crashes::

1623962404576.png
 
  • 1Worf
  • 1Triggered
  • 1Picard
Reactions: 2 users

Rajaah

Honorable Member
<Gold Donor>
11,003
14,659
Added a little more on top of that, now I've got just over 10,000 Truebit. Feelsgoodman

This is totally the time to stock up.
 

Rajaah

Honorable Member
<Gold Donor>
11,003
14,659
Rajaah Rajaah did you stake anything on AAVE? Their rates have gone to shit today lol.

That one wasn't me, I use Uniswap. Gas prices are really good right now. The insanity of the last few months really puts "normal times" into perspective. A year ago I might have complained about paying a $12 gas fee, now it's more like "thank God it isn't $120"
 

Vepil

Gamja
<Bronze Donator>
5,742
24,017
I've noticed that too. I have some stablecoins staked over there....
It looks like matic has dropped by half of what was there a week ago. I repaid all my withdrawals and just have it deposited now. The network transactions were very slow withdrawing and repaying and after the Titan crap I am sure people are pulling back by looking at the % being paid.
 

Haus

<Silver Donator>
10,941
41,332
It looks like matic has dropped by half of what was there a week ago. I repaid all my withdrawals and just have it deposited now. The network transactions were very slow withdrawing and repaying and after the Titan crap I am sure people are pulling back by looking at the % being paid.

Yeah, Love seeing the IRON-XXX pairings showing "infinite%" returns. heh
 

James

Ahn'Qiraj Raider
2,804
7,056
ETH doesn't do a good job of explaining why it's a better mousetrap yet. BTC does a good job of explaining why it's better than fiat.

The Ethereum devs do a great job of explaining how much more powerful Ethereum is than Bitcoin, hence why it has the biggest, most active development team. Bitcoin does a horrible job of explaining why it's better than fiat, which is why literally nothing has changed in the 13 years Bitcoin has been around. It took Ethereum's platform to create Aave, an actual replacement for a bank, while Bitcoin runs on fucking memes.

If it's not easy for people to understand, it's not going to be easy for people to adopt.

That's not how it works, though. You don't go around and tell people to read RFCs for the TCP/IP protocol, you have them use applications built on top of it which are much easier to understand. Ethereum has more tools in its toolbox for developers to create applications that are much easier to understand than Bitcoin ever will, using Aave is not rocket surgery, providing liquidity is a few button clicks. Massive crypto adoption is not even close to here yet, but the fantasy that Bitcoin can drive us there is exactly what's holding it back.
 

Rangoth

Blackwing Lair Raider
1,530
1,644
I’m gonna disagree on one thing as a casual player. AAVE isn’t easy to use for most people at all. That’s why I left to Nexo which is(hope I don’t regret)

I don’t deny you may be more well informed than me, but to play that “common dude” card which is what others are talking about….
I wanted to put 250$ in AAVE so I could learn, gain trust, see what it’s all about. By the time I figured out how to use it and get money in I paid a shitload in fees and ended up with about 160$ in some interest thing. Sure it worked but it wasn’t welcoming to me and I browse FoH daily, at youngish and work with computers.

I know you have 15 excuses on why that’s the case, eth gas fees, etc. but all I’m going to remember is a sour experience and confusion. I think that’s the point others are making. The technology may be cool as shit and powerful but if they can’t dumb it down, market it, make products on it that morons can use it will not catch! That’s not to say ETH won’t rise and it’s not going to be a money maker.

Ive been part of a lot of business ventures in my life and both lost and won to competition. And it was NEVER becomes someone just had a better/worse product. You are completely underestimating the marketing side of this. ETH needs a “spokesperson” that isn’t the dev team but someone pitching a service on ETH and stating why ETH made his awesome service possible.
 
  • 1Like
Reactions: 1 user

James

Ahn'Qiraj Raider
2,804
7,056
AAVE isn’t easy to use for most people at all.

The point here is that it's nearly impossible to do anything Aave does with Bitcoin. Where are you depositing your Bitcoin? Where are you getting loans against your Bitcoin? Are they decentralized like Ethereum applications are? You say it's too hard for the average user, but you figured it out, and it literally replaces your bank. What other service do you know of that replaces your bank, is it easy to use? Nexo is easy to use because it's just an online crypto bank, it's still a centralized financial service, the whole point is that they make financial services easier for you.

And still, we're early yet. You did all of this before smart contract wallets and it only cost you $90 in what was one of the most oppressive transaction fee regimes in crypto history.
 
  • 1Like
Reactions: 1 user

Tmac

Adventurer
<Gold Donor>
9,207
15,649
I’ve looked hard at AAVE. Jackie figured it out but it’s Greek to me. I’d imagine 1:8 users figure it out. And I also imagine those users find numbers fun/easy.

You don’t have to make DeFi idiot proof. You just have to make it millennial proof. Right now it’s nowhere near adoptable. It’s all proof of concept, even if it is leveraging a billion dollars. Wild times.

Either way, Bitcoin messaging is simple.

You think that ETH being able to do 10 things is its marketable aspect. It’s not. That’s the thing that confuses people. ETH apologists need to figure out the one thing that ETH does best.

Bitcoin is digital gold.

Ethereum is so many things it’s confusing.