Can a Ferrari carry a cinder block? Yes.
Would a sane person use a Ferrari to transport the cinder blocks required to build the foundation of their new home to the construction site? No.
Can a chainsaw cut a blade of grass? Yes.
Would a sane person mow their lawn with a chainsaw? No.
Can a barrel hold water? Yes.
Would a sane person use a barrel to bring water along on their bike ride? No.
Just because something is technically capable of doing something doesn’t mean it’s the right tool for the job.
Using a block chain based cryptocurrency for mundane and micro transactions doesn’t make sense because of the fact that every full node must keep a copy of every transaction since the very first coin base reward.
Resources matter. We should be encouraging wise use of resources. There may come a day when those resources (the internet, specifically) come under attack by people who want to control us instead of promoting and allowing freedom. If you think this idea is paranoid, take a look at some of the capital controls that first world, western countries around the globe are implementing against their citizens, in the name of “security”. Imagining “information controls” is not that far fetched, in the slightest, and we can even see examples of them today!
Wouldn’t it be nice to know that bitcoin is a lean, robust protocol, which if required can easily function on fewer resources (less bandwidth), should the need arise?
With that in mind, wouldn’t it be best to build layers on top of bitcoin which will give those people who want cheap, fast micro transaction the ability to do exactly that, while allowing those layers to be peeled away in a worst case scenario? Isn’t that a worthwhile compromise to make?
Published at Fri, 17 Mar 2017 05:06:34 +0000
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