Author: Ron 2015-06-03 05:50:32
Published on: 2015-06-03T05:50:32+00:00
On June 1, 2015, Eric Voskuil responded to a proposal for alternatives to the 20MB step in Bitcoin development. The proposal aimed to address the issue of block size limits and increase scalability. In his response, Voskuil emphasized that decentralization is the core of Bitcoin's security model and what gives it value. He argued that despite its lesser usage compared to state currencies like Visa, Dollar, Euro, Yuan, and Peso, Bitcoin has utility due to its lack of centralized control. This premium exists solely because of its decentralization, which is the primary objective of Bitcoin. Another participant in the discussion, Ron, agreed with Voskuil's sentiment. He added that the value of Bitcoin lies in its independence and constancy. Its worth does not change, only the worth or worthlessness of corrupt states and their currencies that it's compared to/exchanged with. Ron hesitated to call Bitcoin money since money is supposed to be a store of value over time.
Updated on: 2023-06-09T22:11:47.812051+00:00