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Someone has been licking stocks again. If I had a staoshi for each person that said it would go down! It will probably go down. It will probably go back up. It

Someone has been licking stocks again. If I had a staoshi for each person that said it would go down! It will probably go down. It will probably go back up. It will always go back up, as long as there is a general belief in the population that the tech is worth the cost of running it. Bitcoin is valuable because it represents an immutable data store which is difficult to change - much like "stocks". The value an immutable-like data stores presents to some business models is more valuable than the idea of publicly traded stock to others. For example, I could hook up a Bitcoin transaction to this POST, and do it without any authentication or credit card number, yet it would still be paid and secure. That is available to everyone today in the form of Lightning. Once more business models, such as those backed by ML adopt these types of micropayments, there will be no stopping Bitcoin, whether you lick stocks or not.

avalys 6y ago
What’s a business model backed by ML?
- kordlessagain 6y ago
  Image segmentation via machine learning. Zero reason to carry an "account" to do "queries" to the models, every reason to pay for it.
paulpauper 6y ago
but how does this translate into bitcoin being worth hundreds of billions of dollars? PHP and Javascript are free and used way more than bitcoin, but is it worth hundreds of billions?
- kordlessagain 6y ago
  Sure, it's worth billions just like someone thought Uber, Groupon or WeWork was worth billions. In Bitcoin's case, it's distributed consensus. In the case of startups, it's the investors that control consensus. In the case of the market, it's the market manipulators that do it, in conjunction with public opinion. As long as public opinion holds that Bitcoin is valuable and it continues to be a secure solution that doesn't require edge case handling (which increases risk) then there's no reason anyone shouldn't think it's a reliable store of immutable values in the near term.

avalys 6y ago

What’s a business model backed by ML?

kordlessagain 6y ago
Image segmentation via machine learning. Zero reason to carry an "account" to do "queries" to the models, every reason to pay for it.

paulpauper 6y ago

but how does this translate into bitcoin being worth hundreds of billions of dollars? PHP and Javascript are free and used way more than bitcoin, but is it worth hundreds of billions?

kordlessagain 6y ago
Sure, it's worth billions just like someone thought Uber, Groupon or WeWork was worth billions. In Bitcoin's case, it's distributed consensus. In the case of startups, it's the investors that control consensus. In the case of the market, it's the market manipulators that do it, in conjunction with public opinion. As long as public opinion holds that Bitcoin is valuable and it continues to be a secure solution that doesn't require edge case handling (which increases risk) then there's no reason anyone shouldn't think it's a reliable store of immutable values in the near term.