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kyletorpey (55)in #steemit • 9 years ago
RE: Note: Steemit Transaction Numbers are Misleading, It's Not About to Pass Bitcoin in a Meaningful Way
I'm not sure we know what Steem is capable of or the tradeoffs that are being made for scalability. We'll find out if Steem continues to grow.
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kyletorpey (55)in #steemit • 9 years ago
RE: Note: Steemit Transaction Numbers are Misleading, It's Not About to Pass Bitcoin in a Meaningful Way
Building a scalable blockchain is quite a claim. We'll see how scalable and decentralized Steem's blockchain is as more people look into the project.
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kyletorpey (55)in #steemit • 9 years ago
RE: Note: Steemit Transaction Numbers are Misleading, It's Not About to Pass Bitcoin in a Meaningful Way
There are tradeoffs with scalability. Systems scale more easily when they're more centralized. We'll see if those tradeoffs are worth it for Steem as more people take a closer…
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kyletorpey (55)in #steemit • 9 years ago
RE: Note: Steemit Transaction Numbers are Misleading, It's Not About to Pass Bitcoin in a Meaningful Way
Bitcoin can do more than financial transactions: To me, it's unclear if the non-financial transactions on Steem's blockchain need to be on a blockchain. The phone analogy…
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kyletorpey (55)in #steemit • 9 years ago
RE: Note: Steemit Transaction Numbers are Misleading, It's Not About to Pass Bitcoin in a Meaningful Way
Perhaps transactions to certain contracts (dapps) would make sense for tracking success of Ethereum?
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kyletorpey (55)in #steemit • 9 years ago
RE: Note: Steemit Transaction Numbers are Misleading, It's Not About to Pass Bitcoin in a Meaningful Way
I like to see my Steem Dollars increase so I can convert them to BTC. Don't really care about Steem Power at this time. Still learning how everything works.
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kyletorpey (55)in #steemit • 9 years ago
RE: Steem Passed Ethereum's Number of Transaction and Will Pass Bitcoin Soon
The transaction numbers in this post are misleading. Just made a new post explaining why here:
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
It doesn't make sense to me either.
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
@decrypt I get that aspect of it. The model here appears to be different than appcoins from the past, so I'll need to research/think about it more.
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
I'm not sure what level of decentralization is needed for the next wave of social networks, but we'll likely find out in the next few years.
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
Lightning Network makes Bitcoin transactions practically free: Simpler payment channels are already functional. This is the kind of stuff Yours Network is using.
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
@jbrukh not sure why i can't reply directly to your comment, so posting like this. zapchain and steemit have two completely different models (even when you take away the…
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
The only thing a website like this needs is digital cash (maybe not even that), and bitcoin already provides that. The appcoin seems to add a layer of complexity and volatility…
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
Why is a blockchain needed for this platform?
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
Payment channels enable what are essentially instant confirmations. The Lightning Network is a generalized network of payment channels that means anyone can transact with anyone…
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
I think there may be value in something like Steemit. I'm just skeptical of the appcoin.
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
I'm aware of Bitshares, but I'm not sure how well their tech has been tested. Many altcoins make large claims about scaling and other issues, but we don't really know if they…
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
Someone told me there is a limit on how much you can withdraw, which raises flags for me, but I still have to look into it on my own.
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
I would say yes. Ryan X Charles (formerly of Reddit) is working on Yours Network, which is similar to Steemit and uses Bitcoin.
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kyletorpey (55)in #introduceyourself • 9 years ago
RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!
What's the incentive to not dump? Holding STEEM seems risky (even riskier than holding bitcoin).
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