4 ms·
I really don't think anyone who became a billionaire from amassing fees on an exchange, which mainly sold alts, is a reliable source: it's a blatant conflict of
by Melting_Harps 4y ago
I really don't think anyone who became a billionaire from amassing fees on an exchange, which mainly sold alts, is a reliable source: it's a blatant conflict of interest, much like Coinbases's Armstrong has expressed in the past.
With that said, it's all moot: go tell the Ukrainian armed Forces, specifically those in the Azov battalion that Bitcoin had no use case, the Come Back Alive campaign started in 2014 and was launched with BTC [0].
Go tell the Ukrainian Government who expedited the legislation to legalize Bitcoin (and other alts) because it allowed for transfer of funds for critical goods when they had to suspend and limit the withdraw of UAH on the day of the invasion and a large outpouring of BTC and other alts came in from all over the World.
These are all things that were battle tested in 2013-14 during the Maidan Revolution, but most will never actually know about any of this because quite frankly you don't have to know.
I don't expect the general public to know about any of this, but this is why I think HN has such a blindspot for things that they simply refuse to accept as a viable network and didn't get to cash in so they end up resenting and repeat the same superficially conjured arguments as it's detractors in the media. You never do the research yourself, and yet remain vocal critics about something you have 2nd hand knpwledge about.
It's hard to accept, and even respect so many of you, when the usecases are all there, but the same talking points remain.
Hell, people will willfully ignore that after the Russian invasion of Kazakhstan earlier this year the miners that had just arrived from China (after it's ban) ended up in the US, many in Texas which has had a massive Wind boon, by a startup backed by none other than Peter Thiel. I personally would have preferred it went to El Salvador, but that was just my opinion, whic hhas now been vindicated because of the Texas energy grid (which would make ENRON blush) issues due to the recent high temperature spikes.
There are also gas flaring recapturing systems built solely for the specific reason of utilizing cheap energy and in turn incentivizing the use of more efficient and environmental systems where traditional tech simply accepted it and shrugged it off as 'business as usual' when it had decades to try and invent something, while at the same time decrying that not enough is being done to offset climate change.
All while lauding how they can the latest trinket delivered to them by Amazon in 24 hours, and ignoring the massive carbon footprint that takes.
The hypocrisy is what is so hard to accept, because this place likes to pat itself on the back for being a place for rational discourse, when in reality it's simply as outlandish as reddit or twitter when it comes to things it didn't see as viable.
PS: Do not mistake Micheal Saylor's misinformed views as the Community's; Bitcoin is not Gold 2.0, it is literately an immutable network, which has a programmable payment system (currently 2 layers) as it's current usecase for the token for which it creates to secure the network.
0: https://comebackalivefoundation.charity/ https://comebackalivefoundation.charity/
- 5350-uiop-1130 4y agoUsing bitcoin in a warzone is an extreme edge case (imo). 99.9% of scenarios BTC is inferior to what we already have for day to day transactions.
- Melting_Harps 4y ago> Using bitcoin in a warzone is an extreme edge case (imo). It's not just warzones, it's places where they simply lack any financial infrastructure; be it politically motivated, or otherwise. > 99.9% of scenarios BTC is inferior to what we already have for day to day transactions. See, again, not true: try making a low cost instantaneous transaction to halfway around the World on a weekend. You can't, its simply not possible. I understand that for most the affluent in developed Western nations, whom you regards as 'we' it seems entirely unnecessary: but in relation to the total amount of Humans on this planet with those options, you are the minority. And again, you're limited to what the banks and institutions will allow you to do: you have family in Iran, or Russia trying to flee? Good luck getting anything sent over there to help them out because of geopolitics which ultimately harm the People who are trying to get out of those situations. I think what most will genuinely never be able to comprehend is just how overly complex, over regulated, and quite frankly how bad the modern payment system is: ACH, Swift, SEPA etc... Unless you do fintech you will never really get any of that, especially if you are of the aforementioned class of person where the most you have had to deal with with was paying higher tx fees at an ATM that one time you used an out network bank.
- MrMan 4y agoBitcoin is garbage algorand is ok. Go away with your preaching
- Melting_Harps 4y ago> Bitcoin is garbage algorand is ok. Go away with your preaching This sums up the level of most HN on the topic, thank you for proving my point for me. Still, as technologists one cannot help but feel disappointed.