Thread by @outbreeak

1) Satoshi wanted above all to create a form of money free from government control, money for the people. That's why #DeFi is so exciting. Unfortunately, #Bitcoin transaction fees and the number of transactions per second are a hindrance to this reality.

2) That's why the lightning network was created. The biggest problem in my view is that the lightning network masks failures of layer one and there will still be transaction fees, although it manages to increase transactions per second.

3) Another criticism I make of #Bitcoin and many altcoins is mining. Mining is expensive, mining farms have been created with ASICs or GPUs. Remember that we are facing a lack of semiconductors / chips in the world.

4) But the main problem is that mining is also inefficient: miners compete with each other for the right to add a block to the blockchain, this generates a waste of energy.

5) That's why proof-of-stake was invented, but it still isn't the most collaborative consensus algorithm, and there are still fees. I see most of mining and staking current practices as a different form of centralization.

6) These are some of the reasons why I believe that #IOTA can become the number one cryptocurrency when it really becomes decentralized (Coordicide).

7) I see that the agents that enable the tangle to function are more collaborative than competitive and the nodes need lighter hardware requirements. This is very important.

8) Another observation to be made is why did Satoshi not create a system without fees then, or a DAG?

9) I believe it is because it is a much more difficult task to create a temporal order in a DAG, in addition to needing to have more complex protection mechanisms such as protection against spam and network congestion.

10) However, I believe that if Satoshi remained active in the sphere of cryptocurrencies he would prefer the architecture of the tangle more than the blockchain he created himself.

11) One more note: #IOTA is also able to transfer data and a fundamental application of this is security in the internet of things: you do not want the servers of @amazon, @Tesla or @Google to have problems arising from the centralization (or non-distribution) of the network.

12) Another trend that I see emerging in the world are pay-per-use services (for example, car insurance or hiring satellite internet) and what is better than a digital currency with no transaction fees to purchase these services?