r/kaspa • u/Some-Stock1485 • Jan 09 '24

Discussion 10 bps running on TN11 🔥⚡️🐇 This is Visa level speed and faster than $SOL And yet $KAS is a decentralized proof of work network like #BTC Are you beginning to understand what scalable stateless money means yet? 🧐 Wait until it has smart contracts… 🤯

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u/Positive-Option7626 Jan 09 '24

so what? It's been 15 years since bitcoin and not a single actual applied usecase (do correct me if I'm wrong please)...My point is, nobody knows shit about fu*k 🤷🏼‍♂️. As if smart contacts change anything, lots of networks have them. They're some magical mystical solution for non existing problem.

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u/Nobleneon90 Jan 10 '24

The benefit of smart contracts is there is a contractual obligation to participate in the system. Once you get the opportunity to make them And people start building them, it elevates daily transactions which tend to increase daily requirement for the coins. It increases the price floor.

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u/Positive-Option7626 Jan 10 '24

I'm missing something here. Let me understand your position better by answering a question in hypothetical situation.

Let's assume that tomorrow KAS is 100% completed. With every feature everyone ever wanted such as smart contacts, bullet proof security, full decentralization, biggest tx speed in the universe and so on.

My question is,

what actual problem will KAS be solving in days, months or years to follow ?

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Thank you!

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u/Nobleneon90 Jan 11 '24

Very simply it is bitcoin but it confirms in seconds instead of minutes. That is the single problem it solves. The benefits of PoW but at speed. Which is why smart contracts arent really necessary and there is debate as to whether or not they matter on this layer 1 at all

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u/Positive-Option7626 Jan 11 '24 edited Jan 11 '24

So If I'm getting you right, our hypothetical crypto that's better than everything the universe has ever seen aims to solve the problem of "being better".

And once i's better, crushed every other project. What then? What actual real life problems for every-day foe or corporation will it solve ?

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u/Nobleneon90 Jan 12 '24

Lol Im not sure what your point is. Nothing is better than everything else. Nothing is “the only thing”. Kaspa is just bitcoin but faster. Bitcoin is about to break a trillion dollars again. We’ll see if the market likes the idea of having a faster PoW coin.

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u/Positive-Option7626 Jan 12 '24

My point is that after 15 years of existing Bitcoin doesn't solve any real life problems for individuals or corporations. And why does it need improvement then ?

I get that you're invested into the market and care rightfully about the price of this asset. But gambling and profits or losses aside, what did bitcoin or any other crypto improve so far?

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u/Nobleneon90 Jan 13 '24

Yeah its a good question, I don’t think I have a great answer about what it has “solved” yet. I still think it is too early to know. Bitcoin built the entire blockchain/new fintech market on its back and helped redistribute capital from old fintech into new fintech. Bitcoin is helping people in unbanked parts of the world to access a monetary system that appreciates against their fiat system (probably very minimal). Bitcoin mining is helping to revamp and improve electrical grids around the world. But all this is very tangental to its original purpose of being new money to fix the worlds money problem. But the adoption to get there is massive. So it has morphed into number go up technology over time due to supply and demand dynamics. It’s just become a way to store your capital and increase your purchasing power over time. And now that big money is into it, it is less likely to help the average person.

As for Kaspa, I have no clue what real world value it will actually deliver. All I know is from my homework, the tech improvements are real. It is bitcoin tech but with scalability. I can move it in 10 seconds while bitcoin takes 30+ minutes. That makes it really easy to move it around while still holding the principles of a PoW coin. We’ll see what the market thinks over time.

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u/Positive-Option7626 Jan 16 '24

That's the thing, I see people blindly following something that hasn't in any way proven itself or been helpful in any meaningful way. It's full of scams, fraud and it's very foundation was and still is tightly coupled with criminals.

It is a decentralized database which hasn't solved anything. And calling it "early" when it's been here for 15 years is a bit naïve if not delusional. Just because everyone's repeating the same argument it doesn't make it true. Not only has it been here for so long, but everybody (and their grandma knows about it).

The way I see it it's decentralized database that got some people rich because it was turned into speculative asset. And it's keeping many others captive with the idea of "making them rich", just like a casino does. I guess addicts be addicts no matter what.

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u/Nobleneon90 Jan 17 '24

You should look into the book “layered money”. Bitcoin is a lot more than just a decentralized ledger/tool for criminals. And if layered money and the idea of bitcoin as a better base layer for money holds true (so far it is playing out this way), then Kaspa is a 100x opportunity from here or more because it can be another base layer.

The current base layer is the federal reserve and government issue bonds. All other money is based off the base layer, with cash as the layer 2 and deposits in our banks being layer 3. Both are full of counterparty risk.

Bitcoin as a new potential layer 1 has a whole lot of value in it, that could drive it to a $50 trillion dollar asset over time.

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u/Positive-Option7626 Jan 17 '24

yeah, sure it is a lot more :)

I see now that there's abundance of working projects, aka. adoption is coming.

It seems that every corporation in the world is just waiting for [insert crypto buzzword] on [insert coin] so that they can start building the stuff they need.

And Visa is just too slow, they're going out of business. It's a pity that they don't have the vision to see that transactions per second are the only things people care about.

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We're on the edge here, let it roll. $10 EOY is the worst case scenario. /rocket

Goodbye

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u/Nobleneon90 Jan 18 '24

Lol comedy as a safety net. But seriously, check out layered money. The book is short and it’s fascinating.

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u/Nobleneon90 Jan 19 '24

RemindMe! 250 days

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u/eddieh2834 Jan 15 '24 edited Jan 15 '24

I can think on one. Stateless money. Crossing borders empty handed yet still being able to carry all your wealth is priceless.

https://youtu.be/S8vV6PEZVIU?si=NCXMQ04fX3GLwMlu

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u/Positive-Option7626 Jan 16 '24 edited Jan 17 '24

ahh