Geee

44 ms·

601.
by Geee 4y ago
This doesn't really explain why energy is needed in a blockchain. Every block contains a verifiable proof that energy has been used to mine the block. Given the properties of the algorithm and physical reality, it is also a verifiable
602.
by Geee 4y ago
Drones can make turns at high speed.
603.
by Geee 4y ago
Just read the article which I linked previously.
604.
by Geee 4y ago
I don't think that Bitcoin is extremely anarchist / libertarian. It would be similar to gold standard. There would be no unlimited funding for governments through central banks. It would limit government spending, but also ensure
605.
by Geee 4y ago
There's just one Bitcoin-network, and 21 million bitcoins. All other cryptocoins are fake, because they are replicas of the original invention. Bitcoin can't be copied, because a copy is by definition a violation of absolute scarc
606.
by Geee 4y ago
It requires energy / work to produce bitcoin or gold, and there's limited amount in total. Fiat currencies are created by a press of a button, and there's no limit.
607.
by Geee 4y ago
That's how money works. The difference is that no one can create bitcoin from thin air. Creating money from thin air is the actual scam.
608.
by Geee 4y ago
No. He was talking about other cryptoassets being securities, and named only bitcoin as a commodity.
609.
by Geee 4y ago
Mammoths aren't that old. The last one died apparently about 4000 years ago.
610.
by Geee 4y ago
What full faith? US dollar is crashing, and there doesn't seem to be a solution in sight.
611.
by Geee 4y ago
Yes, and it's called Bitcoin.
612.
by Geee 4y ago
Cool, but I'm never buying anything from Zuckerberg.
613.
by Geee 4y ago
No, I'm not saying that. I don't think regulations would help at all.
614.
by Geee 4y ago
This crash doesn't really have anything to do with bitcoin itself. Volatility is not a feature of bitcoin, but a feature of the market which trades bitcoin. This volatility is a result of market participants investing with huge leverag
615.
by Geee 4y ago
Then you don't really understand it :) But, if you're a trader and know what you're doing, taking advantage of bear markets is fine of course.
616.
by Geee 4y ago
Bitcoin is not destructive compared to fiat currencies. Inflationary monetary policies are now causing a global recession, resulting in insane amount of human suffering. There's also climate catastrophe, wealth inequality, and all kind
617.
by Geee 4y ago
Yeah, but I wouldn't care too much about the absolute bottom or short term price. Short term is impossible to predict, but it's also quite pointless to worry about. In the long term, this is a very cheap price.
618.
by Geee 4y ago
This is a very good buying opportunity, because this is mostly caused by overleveraged people and institutions having to liquidate into thin markets. Too greedy people are now wiped out. This gives an opportunity for those who have been wis
619.
by Geee 4y ago
It's about understanding bitcoin. As long as more people understand it, more people will buy it. I've never seen anyone who understands bitcoin, but doesn't buy it. Especially in bear markets, people will focus more on learni
620.
by Geee 4y ago
Yes, they do compete, but changing a country isn't as easy as switching a car brand. I don't value democracy. I value freedom and prosperity. I think democracy has become too holy to criticize. I think the perfect world would cons
621.
by Geee 4y ago
That's not how free speech works. Right to speech freely doesn't give you magical protection from consequences of your speech.
622.
by Geee 4y ago
Governments are monopolies. Corporations have to compete, which naturally limits their power. Democracy is a way to limit government power. Autocracy would be better for governments too, if countries were smaller and people could freely mov
623.
by Geee 4y ago
It won't get to that point, because no one wants to hoard too much. Hoarding chips endlessly is pointless. It's basically just a riskless buffer for future spending or investing. People will either spend or invest all extra chips.
624.
by Geee 4y ago
This is pretty good: https://trends.google.com/trends/explore?date=all&q=recessio...
625.
by Geee 4y ago
Isn't it possible to monitor for this type of attack, and then apply mitigations?
626.
by Geee 4y ago
Probably customer service. They have about 100 million customers, so 1 employee per 20000 customers.
627.
by Geee 4y ago
How to avoid BPA?
628.
by Geee 4y ago
Well, you don't really know, but you can make certain assumptions. Money is like a social network with network effects, which means that people want to hoard casino chips which are most popular, and thus they also want to accept them i
629.
by Geee 4y ago
Money allows optionality - instead of hoarding food and fuel, you can hoard money and buy the things you need in the future. If you know for sure that you need food and fuel, and hoard them in advance, they will rot and evaporate by the tim
630.
by Geee 4y ago
That's a common fallacy. Hoarding, saving, preparing for the future is one of most fundamental human needs and the bedrock for a functioning economy and society. There's no fundamental economic principle which would indicate that

More ›