Row 80550

Row ID: 80550 | Dataset Entry | Axioma AXP Content Repository

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>Bitcoin is not the internet. The internet scaled.

Maxis will try to tell you that “the internet scaled with layers,” which is of course an absolutely absurd argument. The “internet abstraction layers” have about as much to do with monetary “layers” as the layers of a seven-layer burrito. As I’ve written before:

If we *had* actually "scaled the internet with layers" in a manner analogous to what's currently proposed with Bitcoin, we'd have capped the bandwidth of all internet connections at some absurdly-low rate (perhaps 1-MB every ten minutes). And then told people, "well, no, that's not going to be enough to allow you to do things like watch streaming movies, but don't worry, you can simply use the internet to look up the location of a 'second-layer solution.' This might be a nearby library or DVD rental store that carries your desired film. Then you can just drive there and pick it up. Simple and almost as good!"

Except even *that* massively *understates* the absurdity of the current situation because with Bitcoin we're capping the total capacity of a *shared* resource. So really, it'd be more like if we'd somehow limited the *combined* bandwidth of all internet users to some absurdly-small level, such that, as more people got online, the bandwidth available to each individual became ever-slower and more expensive.

FieldValue
text >Bitcoin is not the internet. The internet scaled. Maxis will try to tell you that “the internet scaled with layers,” which is of course an absolutely absurd argument. The “internet abstraction layers” have about as much to do with monetary “layers” as the layers of a seven-layer burrito. As I’ve written before: If we *had* actually "scaled the internet with layers" in a manner analogous to what's currently proposed with Bitcoin, we'd have capped the bandwidth of all internet connections at so…
label r/btc
dataType comment
communityName r/btc
datetime 2024-05-24
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url_encoded Z0FBQUFBQm5Lak8yaFVhcl9RbmltWnlVY3ZBYUtjaTZWSXU4TUhudkV4SnJ3czdqU2l1UWN6Mi03YmtqQ3NhbWFMVEhRdUt4YnBjRXBpZDBlaXhzbGxhcE9GNDVCSDdyLWM0OUtWMzloeHNvSkE1WWtuc3ZndUhVV2Vfd3RzMUxkZnZiTkJVaEtQSVlsXzdZUXFPbWJlUl9uUWpLdWFPT0RTMUl3MUxlWDZmV3NTUERpRnZSQjNNREhKLU1ncUhiZHFUcEdycHZhLVRr

Raw Record

{
  "text": ">Bitcoin is not the internet. The internet scaled.\n\nMaxis will try to tell you that “the internet scaled with layers,” which is of course an absolutely absurd argument. The “internet abstraction layers” have about as much to do with monetary “layers” as the layers of a seven-layer burrito. As I’ve written before:\n\nIf we *had* actually \"scaled the internet with layers\" in a manner analogous to what's currently proposed with Bitcoin, we'd have capped the bandwidth of all internet connections at some absurdly-low rate (perhaps 1-MB every ten minutes). And then told people, \"well, no, that's not going to be enough to allow you to do things like watch streaming movies, but don't worry, you can simply use the internet to look up the location of a 'second-layer solution.'  This might be a nearby library or DVD rental store that carries your desired film.  Then you can just drive there and pick it up. Simple and almost as good!\" \n\nExcept even *that* massively *understates* the absurdity of the current situation because with Bitcoin we're capping the total capacity of a *shared* resource. So really, it'd be more like if we'd somehow limited the *combined* bandwidth of all internet users to some absurdly-small level, such that, as more people got online, the bandwidth available to each individual became ever-slower and more expensive.",
  "label": "r/btc",
  "dataType": "comment",
  "communityName": "r/btc",
  "datetime": "2024-05-24",
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  "url_encoded": "Z0FBQUFBQm5Lak8yaFVhcl9RbmltWnlVY3ZBYUtjaTZWSXU4TUhudkV4SnJ3czdqU2l1UWN6Mi03YmtqQ3NhbWFMVEhRdUt4YnBjRXBpZDBlaXhzbGxhcE9GNDVCSDdyLWM0OUtWMzloeHNvSkE1WWtuc3ZndUhVV2Vfd3RzMUxkZnZiTkJVaEtQSVlsXzdZUXFPbWJlUl9uUWpLdWFPT0RTMUl3MUxlWDZmV3NTUERpRnZSQjNNREhKLU1ncUhiZHFUcEdycHZhLVRr"
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