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0bsidian
searching PlanetScale…
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1.
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by
0bsidian
8y ago
The Venture Capital Working Group isn't claiming they weren't securities at launch. It's claiming that some of these tokens do not qualify as securities any longer. This is in line with SEC Chairman Clayton's recent stat
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Losing Alpha: Why Most New Crypto Funds Are a Shit Deal
(medium.com)
2 points
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0bsidian
9y ago
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0 comments
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The Three Economic Eras of Bitcoin
(medium.com)
14 points
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0bsidian
9y ago
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1 comments
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Goldman Says the Bitcoin Haters Just Don’t Get It
(bloomberg.com)
2 points
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0bsidian
9y ago
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0 comments
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by
0bsidian
9y ago
Is it considered spam because of its substance or because it's repeated verbatim? E.g. if I take the same exact comment but paraphrase it every time I post it, would that be ok? The reason I ask is because I see a few accounts post the
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by
0bsidian
9y ago
Let me try to make the case for why Bitcoin could be a useful beyond greed. I can't really think of many reasons why you would use crypto to pay for a coffee or a sandwich if you live in the West (or frankly, even most developing natio
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by
0bsidian
9y ago
THIS. Thank you for this. I will quote your response in the future when this point comes up again, if it's OK? I was listening to Naval Ravikant who makes exactly the same point about Bitcoin.
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by
0bsidian
9y ago
You don't even need a smart contract, the CME will be starting to sell cash settled BTC futures in two weeks: http://www.cmegroup.com/media-room/press-releases/2017/10/31...
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0bsidian
9y ago
I don't want to sound condescending, and if I do I apologise, but anyone who has any familiarity with financial markets knows that the industrial applications of gold account for a negligible percentage of its price.
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0bsidian
9y ago
Have you ever heard of gold? Are people buying gold "greater fools"? If so, why?
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0bsidian
9y ago
And if we used blockchain to create a tokenised TOR, we would have something like Orchid Protocol: www.coindesk.com/tokenized-tor-orchid-blockchain-decentralized-internet/
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by
0bsidian
9y ago
If it's so obvious, why don't you buy a futures contract to short it and reap your rewards in a year or two? You can make millions of dollars if you're right.
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0bsidian
9y ago
I respectfully disagree with the idea that Bitcoin's killer-app is to be used as a currency for transactional purposes. I can't really think of many reasons why you would use crypto to pay for a coffee or a sandwich if you live in
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0bsidian
9y ago
I see what you mean, let me take back my previous comment, which was typed hastily. I actually agree with you on the most part, you really can't prove that Bitcoin is a good store of wealth. I am making an educated guess that a crypt
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0bsidian
9y ago
It's a good question. The consensus is that P/E is not a good valuation metric for high growth companies. I would rather use comparable multiples, DCF or sum of the parts for this type of exercise. The principle being that you wil
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0bsidian
9y ago
I don't think I claimed that anything is a "guarantor of the future". I am simply pointing out that networks are valued with reference to their size, not on whether their code base is unique. Bitcoin and Facebook are two exam
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0bsidian
9y ago
>Anyone can fork the codebase, or even the blockchain, or one of the many other blockchains out there. There is absolutely nothing provable about BTC as a store of wealth. Let's rewrite the above as follows: >Anyone can copy Face
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0bsidian
9y ago
This is exactly right. If you create a company and copy Facebook's code, the resulting company will not be worth as much as Facebook. Why? Because much of Facebooks' valuation derives from its network. Bitcoin is the same.
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0bsidian
9y ago
The idea that you can value bitcoin via P/E, utilizing mining fees as the "E" is incorrect. It's akin to valuing gold through P/E, by utilising the cost of extraction as the "E". This is obviously wrong be
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If Bitcoin Is a Bubble, So Is Everything Else
(medium.com)
2 points
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0bsidian
9y ago
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0 comments
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0bsidian
9y ago
>I mean I get that the laws bitcoin evades quotes here are "unjust". They are still the law, however. That fact that injustice is the law does not make it moral (e.g. Nazi Germany). Feel free to continue siding with the dictato
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0bsidian
9y ago
I can definitely see the utility in a censorship-resistant digital medium to store wealth. To me, this latter use case has a lot of potential to serve the unbanked (as well as the banked). Some use cases I can think off the top of my head:
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by
0bsidian
9y ago
You're preaching to the choir, I love BTC. I realise that I haven't been clear. The point I was trying to make is only that you don't need for Bitcoin to be a replacement to visa in order to justify current skyrocketing valua
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0bsidian
9y ago
I'm going to repeat myself here, but please bear with me if you haven't heard this argument before. I respectfully disagree with the idea that Bitcoin's killer-app is to be used as a currency for transactional purposes. I can
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0bsidian
9y ago
I respectfully disagree with your assertion that "the fundamentals are all wrong". I can't really think of many reasons why you would use crypto to pay for a coffee or a sandwhich if you live in the West (or frankly, even mos
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0bsidian
9y ago
I would buy more Bitcoin. The world needs a censorship-resistant digital vault to store wealth. Bitcoin is basically a very cheap "Swiss bank account as a service" for the world's unbanked. Some use cases I can think off the
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Peter Thiel: People are underestimating the great potential of Bitcoin
(cnbc.com)
3 points
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0bsidian
9y ago
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0 comments
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0bsidian
9y ago
Agreed, I was just trying to say that currently, one of the most popular investment theses for Bitcoin is "Gold for millennials", not "anonymous paypal" or "decentralised stripe".
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0bsidian
9y ago
I think most of the people putting larger checks into Bitcoin are betting that it will become a store of value asset. Going from memory, a recent Bloomberg article called Bitcoin: "Gold for millennials". Or, similarly, Peter Thiel
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Ask HN: We have a great team and capital but can't find a good idea
337 points
by
0bsidian
9y ago
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551 comments
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