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RE: Trying to understand the Bitcoin Maximalist
I can't help you there. Although I think that Bitcoin has done a lot as the first mover in the space, I don't think it will be the crypto that is ultimately adopted as the primary mainstream crypto currency. The primary reason: it's too slow. Although it's possible to transfer large sums of money inexpensively, it takes too long to complete transactions. It's not feasible to use in everyday transactions for coffee, groceries, misc purchases.
I think that Bitcoin is the social media equivalent of Myspace. Another challenger will come along and be the Facebook of crypto. Heck, it could be Facebook's crypto. Just kidding. :)
I disagree on it's speed. Bitcoin is extremely fast if you are using it in a way that allows it to be transferred at high speeds. All you have to do is send along the UTXO set that you're wanting to transfer. There's a number of means to do that without relying on just the traditional network.
I view BTC transactions as forms of moving cash. If you want to move cash from person to person you can just transfer paper wallets or preferably OpenDime from person to person. If you want to do networked versions then lightning would be your replacement for credit cards. Finally if you want to wire transfer then you would just do a traditional BTC tx on the network and wait for your funds to be validated.
Dash/PIVX offers InstantSend which is as good as 6 confirmations and only takes about a second. EOS has 0.5 second block time. UTXO is absolutely not safe in a network where congestion is a regular thing. BTC is dial up internet. It doesn't have a future and it won't matter in the future. If the world has to move on, BTC has to go.
Have you used lightning network? I think you'll realize that tools like lightning have enabled instant transfers using Bitcoin and it will certainly have a future as the main protocol for wealth transfers.
Why bother with off chain complicated solution when there are many projects with serious on chain scaling that require no effort from the user. No need to bother with SMS when you can just use Telegram or WhatsApp. Plus LN doesn't scale well when thousands of nodes get involved. LN is a technologically infeasible theatrical solution that has not been stress tested.
I know of no completely decentralized solution that can scale on chain. Both solutions from Dash/Privex are handled with second layer solutions. As for lightning scaling it would seem to improve with more nodes compared to less as there would be more route availability. What am I missing there?
Absolutely not at all. They are all on chain with transactions being instantly locked by the masternodes rejecting any conflicting transactions with the already locked transactions. This is not a second layer solution.
Check out EOS or Hashgraph.
There is a little bit of bias in the following subreddit+video but many of them are valid points. Plus we have better solutions than LN which is actually make the network less anti-fragile.
https://www.reddit.com/r/btc/comments/8n4209/why_the_lightning_network_doesnt_scale/
I don't know about all the off-chain solutions for Bitcoin. I was mainly speaking to the 10 minute block time of the network. They won't speed it up, and someone isn't going to wait 10 minutes in line just to check out. That's mainly what I'm saying. You could still use it to hold large sums of money, but I don't think it would make sense for day to day transactions.
Just my $0.02 worth. Wait, the markets dropped. It's only my $0.01 worth. ;)
I've actually written that Bitcoin is like dial up internet an deserves to be in a museum than in use: https://steemit.com/technology/@vimukthi/the-internet-didn-t-change-the-world-and-your-children-will-feel-sorry-for-you-for-having-to-use-bitcoin-analyzing-a-1995
I have been really impressed with what I've heard from Hashgraph. The fact they're able to do transactions so quickly is crazy as compared to Bitcoin. While Bitcoin purposely slows down transactions to make sure they are legitimate, Hashgraph passes them at lightspeed. From what I understand there are already a number of banking institutions that are using Hashgraph. I think at this point, that's probably one of our frontrunners in terms of what will actually be used in checkout lines.
Hashgraph is my #1 crypto project. But thanks to US Regulation only accredited investors could get in. The project is valued at $6 Billion USD and there are many projects that are built on Hashraph and it's awesome to just read the news or the Medium blog.
Even Dash/PIVX are good for checkout lines. Hashgraph can be used to build the exchanges of the future.