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RE: Hi, I'm Kyle. I've been a full-time Bitcoin writer for the past 2+ years. Now I'm trying out Steemit!

in #introduceyourself • 8 years ago

I would say yes. Ryan X Charles (formerly of Reddit) is working on Yours Network, which is similar to Steemit and uses Bitcoin.

8 years ago in #introduceyourself by
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     8 years ago (edited)

    this is not going to work very well with something like BTC, the whole point is to get rid of micro-payments.

    I just upvoted you, and you got an extra 1 cent - do you seriously think I am going to do a 1 cent BTC transaction? when just doing a tx costs more than 1 cent? ;D

    I love bitcoin but it is not a panacea for all...

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     8 years ago 

    Damn straight bro.

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     8 years ago 

    Lightning Network makes Bitcoin transactions practically free: https://bitcoinmagazine.com/articles/bitcoin-lightning-network-creators-fees-will-be-effectively-zero-1459955513

    Simpler payment channels are already functional. This is the kind of stuff Yours Network is using.

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       8 years ago 

      this does nothing to address "the whole point is to get rid of micro-payments."

      no one wants to pay to do something (micropayments), at the very least they do not want it to cost money (the cause with Twitter or Facebook), at the very best they get some return (Steem).

      i'm sure there are many great use cases for lightning networks, micropayments for content and curation of it are likely not one of them.

      i will go out on a limb here and claim that micro payments are completely uninteresting to sentient beings, however great for computer programs needing to do resource allocation in decentralized networks which need to function like agoric computational systems.

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       8 years ago 

      you don't get it Kyle

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         8 years ago 

        @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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           8 years ago 

          I read about the lightening network closing a a chunk of transactions in some crazy time. I still think STEEM has a lot of value though and happy to contribute and see people with a professional career in crypto journalism hang out here. Welcome!

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             8 years ago (edited)

            IMO the problem on BTC is the economy behind and the scale issue with, pls correct me still 7 TPS per sec, right? Anyway ... this won't happen with the bitshares graphene toolkit on which STEEM is based. Well, i'd bet after u have done more research about…anyway - welcome on board and happy steeming.. (The most important value i'm currently noticing - people all over the world start getting crypto) It's good for all cryptos so let's work all together …

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             8 years ago 

            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 work until they're tested in the wild.

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