#Blocktalk with Tone Vays [Question Thread]
Today we have steemit's favourite bitcoin Maximalist, Tone Vays of Liberty Life Trail to join us on #Blocktalk
After his fierce debate with Blake and several other strong opinions regarding altcoins, I will ask Tone about his introduction into bitcoin, the projects that actually do interest him and perhaps rehash some points from the debate.
As always questions are welcome here, or live during the show
show starts Tuesday August 9th at 8:00pm EST
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Question to Tone Vays: When will we see a post from you at #introduceyourself ?
How does Tone feel about the bitcoin blockchain's inability to handle the transactions of Steemit?
I will listen to your @blocktalk in the next couple of hours. I am not holding out hope that Tone answered my question adequitly though because Steemit will soon be too big for Bitcoin. Here are the co-founder's words to backup this claim: https://steemit.com/steem/@dan/response-to-coindesk-article-steem-provokes-doubt-of-market-observers
"I will listen to your @blocktalk in the next couple of hours." It is not on until 8PM EST
You might want to learn about Yours Network... https://steemit.com/steemit/@bitcoinmeister/yours-network-a-steemit-competitor-that-will-use-bitcoin-sneak-peak-and-links-included
Is 'yours' built on a blockchain? does it have a crypto currency with free transactions? Do the users have the ability to own stake in it and realize profits if it is successful? Do content creators have the ability to be paid and withdraw value from the system? And was it the first to market with all of these features? Or is it just another Diaspora?
"Do content creators have the ability to be paid" Yes. That is the main thing they are trying to do from what I can tell. They are not making their own cryptocurrency, they are keeping it simple in that light. Before anyone on this thread pronounces it dead they should probably let them launch first. They have the backing of legitimate investors and should be taken seriously.
yet here we are... discussing building a possible thing (the Yours Network) that has several barriers to overcome... on a thing that does work now.
I think it's a real stretch to call Yours Network a competitor. For multiple reasons, it doesn't stand even a slight chance.
yeah... bitcoin needs an overhaul if people intend to build a social network on it. Bitcoin imho should just be used as money (unless Dash or some other takes it's job as money.)
Satoshi also had a word on the issue: https://steemit.com/bitcoin/@alexgr/bitcoin-maximalists-remember-what-satoshi-said
fully agreed
The Lightning Network will be ready soon, which will handle that amount of transactions.
Bitshares, Steem(it), Ripple etc all are variations of the almost 20 years old Paxos algorithm and could have existed well before Bitcoin. So why now?
Technically, using "master nodes" or "witnesses" has not much to do with Satoshi's innovation, which is complete trustlessness. I'm not saying that Paxos-based consensus systems don't have their use cases, but it's just not the same category.
I contacted Tone after the Great Debate and sent me a link he was discussing there, I analyzed it step by step here https://steemit.com/steemit/@andrew0/the-great-steemit-debate-what-was-left-unanswered-and-still-needs-to-be-clarified
Hope it may be useful for the future speech :)
@blocktalk Cool, I'm interested to hear what Tone has to say. I used to follow his bitcoin price analysis and he always seemed to make some good observations about the market.
It doesn't seem like he will have anything positive to say about Steemit. I'm currently listening to his debate with Blake. I'll post back here if I come up with any questions.
Yeah I enjoy his btc analysis as well, I'll have to leave a good amount of time for Bitcoin price predictions at the end of the show
@blocktalk Questions for Tone:
1 - What do you think of the distribution of wealth in the Steem system?
2 - Who do you think is the typical investor into Steem?
3 - Can you explain how much new Steem is generated and what kind of effect this could have on the value?
Interesting post. What's a "Slack Channel"???
Slack is a messaging services of sorts, with several rooms grouped in a team. The team is jumbucks and the channel with in the team is #blocktalk. Jumbucks has great technical discussions and discoveries of new concepts and projects in the cryptocurrency space
Bitcoin Maximalists Response to Steemit breaks down to... "They Took Our Jobs! (i did not create this episode of South Park lol)
nice article
I'm almost as big of a Bitcoin fan as Tone is, but I think you guys should also have an ETC address listed. ETC- it stands for something. Here is mine:
0x36ab30f3ef5165e29b5fcefbc06511004c16ed31
Well technically I do, I have the private for that ethereum address. Therefore it can accept and control a valid deposit on any ethereum fork
This guy seemed pretty clueless when he "debated" @blakemiles84.
Simply Great Information and Presentation