4 ms·

Adorable pearl clutching.

by defaultname 5y ago

dadoge 5y ago
Adorable ignorance and lack of empathy
- defaultname 5y ago
  It has nothing to do with lack of empathy, nor did I make any statement about banking in El Salvador. Your pearl clutching is the rather pathetic, desperate machinations of someone deep in BTC who is resorting to whatever foolish argument they can make to sell it. The vapid moralizing is embarrassing. You used El Salvador to try to legitimize BTC. As a tiny economic "power" (literally 7-11 sized), with a functionally broken government, it counts for somewhere approximating zero in legitimizing the farce that is BTC. The only people who think it is notable are BTC hypesters.
  - dadoge 5y ago
    Read more about this experiment before jumping to conclusions https://apnews.com/article/caribbean-el-salvador-bitcoin-lifestyle-technology-d30c52b39e16ef49e4b6342fdc885c92 https://apnews.com/article/caribbean-el-salvador-bitcoin-lif... The smallness of the country doesn’t mean this isn’t significant. They have problems, and through an experiment found solutions to those problems and are scaling them up
    - defaultname 5y ago
      Again, what "conclusion" do you think I'm jumping to? Modernizing payment systems is having a huge impact across the entire developing world. I spent two years of my life building a system for payments (mobile to mobile) for a variety of African countries. Negligible fees, immediate, robust and reliable. This isn't new or novel. Bitcoin has shockingly little to do with El Salvador. It is a lightning network being pitched (which could be funded by USD, gold, eggs, turtles...whatever), trying to pump BTC in the process. So save with the feel good El Salvador story.
      - dadoge 5y ago
        So you think this is just to pump Bitcoin? Well that’s where I disagree with you. What happened with those apps in Africa? And why is Nigeria increasingly looking to BTC? Could also be corrupt central banks, which I admit is less an issue in El Salvador. Bitcoin is also censorship resistant, Nigeria tried to ban BTC but P2P usage went up after the “ban”. And to be clear: I don’t think BTC is necessarily THE BEST conceivable solution out there - a USD backed coin probably is better for ES in the next few years. But I also do think BTC is better than status quo for ES
throwaway_kufu 5y ago
You previously brought up El Salvador’s murder rate as though that has anything to do with or diminishes their Bitcoin experiment. It is really odd until you reveal below that you have a pretty clear bias against Bitcoin because you personally worked on some traditional payment processing software.
- defaultname 5y ago
  I mentioned El Salvador's murder rate because it is a very broken country. Literally the worst in the world. What El Salvador does isn't convincing. I'm not the one who brought up El Salvador as a model to justify something. As to the "clear bias", I literally laughed out loud at that hilarious claim. You seem to have a fundamental misunderstanding about this entire discussion. Firstly, I don't work in that realm anymore, but secondly it's _irrelevant_ because the product that I worked on could as easily be "backed" by BTC (in fact it is used in multiple jurisdictions backed by various currencies. The net is that something of value can be transmitted between users). None of these payment systems -- including "Bitcoin Beach" -- actually operate off of the BTC blockchain (you know, because it's completely broken trash). My bias against Bitcoin is that it is a garbage solution that solves literally nothing -- it is one of the worst solutions in every single claimed use -- but that we have to constantly hear a million pathetic salespeople for it because they've "invested" in it. If there were a thousand pet rock HN commentators pitching pet rocks in every discussion I'd shit on that too.
  - dadoge 5y ago
    There is some merits to what you are saying. Yes, the USD is better for hyperinflation *right now* than BTC as it is more stable. But I do think BTC has better properties that, in the long run, will prove superior to the USD and gold in environments of absurd inflation.
  - dadoge 5y ago
    The end goal for BTC is not for all transactions to run directly on-chain Hal Finney basically knew this in 2009 Elizabeth Stark knew this in 2014 and started Lightning

Adorable pearl clutching.

dadoge 5y ago

Adorable ignorance and lack of empathy

defaultname 5y ago
It has nothing to do with lack of empathy, nor did I make any statement about banking in El Salvador. Your pearl clutching is the rather pathetic, desperate machinations of someone deep in BTC who is resorting to whatever foolish argument they can make to sell it. The vapid moralizing is embarrassing. You used El Salvador to try to legitimize BTC. As a tiny economic "power" (literally 7-11 sized), with a functionally broken government, it counts for somewhere approximating zero in legitimizing the farce that is BTC. The only people who think it is notable are BTC hypesters.
- dadoge 5y ago
  Read more about this experiment before jumping to conclusions https://apnews.com/article/caribbean-el-salvador-bitcoin-lifestyle-technology-d30c52b39e16ef49e4b6342fdc885c92 https://apnews.com/article/caribbean-el-salvador-bitcoin-lif... The smallness of the country doesn’t mean this isn’t significant. They have problems, and through an experiment found solutions to those problems and are scaling them up
  - defaultname 5y ago
    Again, what "conclusion" do you think I'm jumping to? Modernizing payment systems is having a huge impact across the entire developing world. I spent two years of my life building a system for payments (mobile to mobile) for a variety of African countries. Negligible fees, immediate, robust and reliable. This isn't new or novel. Bitcoin has shockingly little to do with El Salvador. It is a lightning network being pitched (which could be funded by USD, gold, eggs, turtles...whatever), trying to pump BTC in the process. So save with the feel good El Salvador story.
    - dadoge 5y ago
      So you think this is just to pump Bitcoin? Well that’s where I disagree with you. What happened with those apps in Africa? And why is Nigeria increasingly looking to BTC? Could also be corrupt central banks, which I admit is less an issue in El Salvador. Bitcoin is also censorship resistant, Nigeria tried to ban BTC but P2P usage went up after the “ban”. And to be clear: I don’t think BTC is necessarily THE BEST conceivable solution out there - a USD backed coin probably is better for ES in the next few years. But I also do think BTC is better than status quo for ES

throwaway_kufu 5y ago

You previously brought up El Salvador’s murder rate as though that has anything to do with or diminishes their Bitcoin experiment. It is really odd until you reveal below that you have a pretty clear bias against Bitcoin because you personally worked on some traditional payment processing software.

defaultname 5y ago
I mentioned El Salvador's murder rate because it is a very broken country. Literally the worst in the world. What El Salvador does isn't convincing. I'm not the one who brought up El Salvador as a model to justify something. As to the "clear bias", I literally laughed out loud at that hilarious claim. You seem to have a fundamental misunderstanding about this entire discussion. Firstly, I don't work in that realm anymore, but secondly it's _irrelevant_ because the product that I worked on could as easily be "backed" by BTC (in fact it is used in multiple jurisdictions backed by various currencies. The net is that something of value can be transmitted between users). None of these payment systems -- including "Bitcoin Beach" -- actually operate off of the BTC blockchain (you know, because it's completely broken trash). My bias against Bitcoin is that it is a garbage solution that solves literally nothing -- it is one of the worst solutions in every single claimed use -- but that we have to constantly hear a million pathetic salespeople for it because they've "invested" in it. If there were a thousand pet rock HN commentators pitching pet rocks in every discussion I'd shit on that too.
- dadoge 5y ago
  There is some merits to what you are saying. Yes, the USD is better for hyperinflation *right now* than BTC as it is more stable. But I do think BTC has better properties that, in the long run, will prove superior to the USD and gold in environments of absurd inflation.
- dadoge 5y ago
  The end goal for BTC is not for all transactions to run directly on-chain Hal Finney basically knew this in 2009 Elizabeth Stark knew this in 2014 and started Lightning