Jabanga

28 ms·

211.
by Jabanga 9y ago
>Actually, no. Because the stability of the economy depends not on companies but on the cycle of consumption and production. It depends on a huge number of factors. One event that can destabilize an economy is cascading debt defaults tha
212.
by Jabanga 9y ago
>But this will more probably be paid for by taxing corporations and shareholders instead of labour. This is not a good thing. It will discourage investment in the US. >For example by using the ~$2.0tn of US companies cash reserves. Co
213.
by Jabanga 9y ago
If you break down the necessary costs (storage, bandwidth, CPU cycles for verification), it's actually very low, at about $0.001 (a tenth of a cent) a transaction: https://bitcointalk.org/index.php?topic=3332.0 The onl
214.
by Jabanga 9y ago
I provide a lengthy rebuttal to this claim here: https://news.ycombinator.com/item?id=14642625
215.
by Jabanga 9y ago
Medicare does not have market forces guiding it. Consumers are a massive repository of localized knowledge. Once government takes them out of the picture, the industry's dynamism is severely limited.
216.
by Jabanga 9y ago
The reason market competition has not brought down health care costs is that the government actively eliminates market competition in health care: http://healthblog.ncpa.org/why-cant-the-market-for-medical-c...
217.
by Jabanga 9y ago
For cryptocurrency to be widely used as currency, it needs to become massively scalable: https://medium.com/@FEhrsam/scaling-ethereum-to-billions-of-...
218.
by Jabanga 9y ago
In my opinion, Ethereum is unlikely to see major price gains in the near future, as it just went through a period of rapid price growth that can't be sustained. As for whether you should invest in it, only you can make that determinati
219.
by Jabanga 9y ago
>It is funny to see cases in history where well researched,cost effective and progressive social programs have been stopped due to plain prejudice from those in power. That's how I view free market economics. The benefits of having
220.
by Jabanga 9y ago
>why not blacklist coins that have been through a mixer? If you can't mix the coins, you can't launder them. It won't be possible to use Bitcoin for these activities anymore. This would totally eliminate privacy. It would
221.
by Jabanga 9y ago
My solution is government funding open source alternatives to private networks. This is an actual solution, rather than regulations that violate people's property rights. Moreover by repealing regulations on voluntary interactions, one
222.
by Jabanga 9y ago
>But they do limit it past the point where it starts to infringe on regulated conduct. Because the courts are subservient to statute. What I'm saying is that those statutes that violate the right to engage in voluntary interactions
223.
by Jabanga 9y ago
A blockchain's guarantee that the smart contract will remain in force is much more powerful than a government's. This is because a smart contract on a blockchain is much less likely to be removed or have its terms changed than a s
224.
by Jabanga 9y ago
1. So then you accept that cryptocurrency is better for international transfers in the developed world? Your point about the developing world is really reaching as well: large areas of the developing world have widespread internet access, a
225.
by Jabanga 9y ago
Even if someone doesn't work in the public sector, they depend on the widespread acceptance of major tenets of 'big government' ideology for their union perks. Unions only have power because the law forces employers to negoti
226.
by Jabanga 9y ago
Evidence that most federal employees are in the top 10% of income earners [1]. I haven't compiled comprehensive statistics on public servants as a whole, but in all of the jurisdictions I'm familiar with, a large percentage are in
227.
by Jabanga 9y ago
1. Even if you were right, that still leaves international transfers as an area where cryptocurrency is superior to the old establishment system. 2. Not all countries have free domestic transfers. The US doesn't. Many of Canada's
228.
by Jabanga 9y ago
I'd like to offer an alternate theory: A unionized elite dominates the economy. This bloc constitutes millions of unionized public sector workers who are in the top 10% of income earners, and the writers of major establishment media or
229.
by Jabanga 9y ago
$2 is less than the cost of an international wire transfer, especially if you live in a country where people are restricted by laws from making such transfers. But in any case, Bitcoin has reached its transaction capacity and transaction sl
230.
by Jabanga 9y ago
The claim is not 2X, it's "2-8X", which is a far larger margin for error, and in my eyes, totally reasonable for a bird's eye analysis of Ethereum's scalability prospects.
231.
by Jabanga 9y ago
Your counterparty could ditch the smart contract if it's on PayPal too. The actual terms of the contract are less likely to be changed if it's on Ethereum. Insofar as you need USD in your contract, you're right that the block
232.
by Jabanga 9y ago
>Apart from decentralization, what else does ethereum offer over and above this combination? Reliability. PayPal can change its mind and remove the feature. An immutable blockchain won't.
233.
by Jabanga 9y ago
1980s.
234.
by Jabanga 9y ago
Thanks for the vote of confidence. If I can see a way to expand on it in a blog post I'll do that.
235.
by Jabanga 9y ago
>Say that increasing the gas limit and swapping virtual machines does get you an 8x improvement each. After both are implemented, you don't don't have a 64x improvement, you have an 8x improvement These are cumulative. The new
236.
by Jabanga 9y ago
>would have numbers on the scaling improvement column on the scaling efforts list. "3-10x" for ditching EVM for WASM which is at a concept phase, "2-8x" for parallel processing of transactions Isn't allowing for
237.
by Jabanga 9y ago
Neither of those links imply ether will lose its role as input for gas payment. It simply lets ether be used by contracts in the same way tokens are, which allows for greater abstraction of ether transactions. Vlad Zamfir explicitly rejects
238.
by Jabanga 9y ago
ERC20 tokens increase the value of the Ethereum platform. The more tokens on Ethereum, the more opportunities for interoperation, which increases the utility of all tokens (see Metcalfe's Law). Moreover, it increases the value of ether
239.
by Jabanga 9y ago
It's a lot less costly to transfer money with a distributed blockchain, to give you just one counter example.
240.
by Jabanga 9y ago
There's demonstratably pent up demand. For one, Bitcoin had transaction volume doubling every year until it hit the block size limit [1]. Since then, transaction fees have skyrocketed, as a result of growing competition for limited tra

More ›