Mengkudulangsat

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211.
by Mengkudulangsat 7y ago
I wish Malaysians substitute palm oil monoculture with this. It's a tall local species, which is a lot more accommodating to wildlife.
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by Mengkudulangsat 7y ago
The amount of power may not be the same, but the economic formula hasn't changed from the start. Inputs to that formula are solely bitcoin price / hardware price / electricity price / other miners. Miners don't care
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by Mengkudulangsat 7y ago
Bitcoins energy consumption has no correlation with its transaction throughput. Price goes up > People turn on more miners > Difficulty goes up > Less efficient miners become unprofitable > People turn off more miners > Diffi
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by Mengkudulangsat 7y ago
The CAPEX is expensive and it's a batch process. If you can scrounge up enough capital to overcome that hurdle though, the products are usually an instant hit locally. We in the developing markets are usually stuck with recombined juic
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by Mengkudulangsat 7y ago
Why not we all just... let them launch and see what happens? Libra is nothing more than the latest iteration of a long line of stablecoins a-la Tether, USDC, GUSD etc. I find the industry and regulatory overreaction puzzling, surely these i
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by Mengkudulangsat 7y ago
I foresee money laundering eventually getting decriminalized, much like drugs are right now. The pretext of the offence always felt strange to me. If I robbed a bank, did a getaway drive but got caught afterwards, I expect to be charged wit
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by Mengkudulangsat 7y ago
Why would the US be against this? The current US dollar holds power globally largely thanks to the oil trade. As the world moves away from oil, surely you'll need a replacement reason for us to keep wanting the US dollar? Libra would b
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by Mengkudulangsat 7y ago
Facebook is trying to create a common currency accessible to a global userbase whose transmission bypasses traditional banking rails. It'll be super convenient, even the USD can't do that. This combined with Whatsapp for Business
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by Mengkudulangsat 7y ago
I'll be honest, I'm excited. The biggest hurdle to Bitcoin adoption are on-ramps / off-ramps. Businesses and individuals dealing with Bitcoin frequently get de-risked by banks and suppressed by regulators (e.g: China & In
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by Mengkudulangsat 7y ago
> jurisdiction info How would someone do that? How do I prove that I am right now here, to someone else that's not physically present? On a related note, how do I, right now, while doing this activity, prove that I belong to this ju
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by Mengkudulangsat 7y ago
Those are single-market, single-currency products no? Facebook wants one coin to serve all it's 2.4bn users - a larger user base than USD I might add.
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by Mengkudulangsat 7y ago
Free flow of capital and trade is one of the best way to deescalate conflict between nations, and is something both sides should restrain from interfering no matter how much they hate each other. A China-US-type confrontation is much prefer
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by Mengkudulangsat 7y ago
I'm against financial controls & blocking of transactions, I'm not against tracking or supervision of financial institutions. If we encourage use, ironically it will make tracking a lot easier.
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by Mengkudulangsat 7y ago
I'm of the opinion that money remaining fungible is of more importance to modern economies than preventing money laundering. If crimes are performed to obtain such money, then the crimes are abhorrent no doubt. However the sending and
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by Mengkudulangsat 7y ago
Very few examples... Coinbase / Bitstamp / Kraken? People don't realize just how much of a tightrope they are walking on [1]. Serving crypto requires a deliberate business pivot [2], and not many are keen. This IMO is the lar
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by Mengkudulangsat 7y ago
Skimming through this I've come to some conclusions:- A reliable banking partner is prerequisite to run a fiat-crypto exchange. Loss of banking partner is fatal to an exchange, and should immediately trigger a wind-down. On the flip-si
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by Mengkudulangsat 8y ago
Interesting development. There's a massive amount of accumulated capital and equipment inventory held by Chinese miners. These are mobile, and will surely emigrate.
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by Mengkudulangsat 8y ago
Any large examples of this? Only one I can think of is Mondragon Corporation https://en.wikipedia.org/wiki/Mondragon_Corporation
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by Mengkudulangsat 8y ago
Wait a minute, cheap medicine through the dark web?! Won't that be a killer app for the desperate?
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by Mengkudulangsat 8y ago
He is, all the time, which he shared on his Reddit AMA some time ago. Might be worse than the actual sentence.
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by Mengkudulangsat 8y ago
This is my primary motivator for supporting Bitcoin. No one supports criminal activities, but we underestimate how much AML/KYC laws have produced a chilling effect on an open society. The relative ease with which your assets can be fr
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by Mengkudulangsat 8y ago
Without knowing the absolute production capacity and utilization pre-Bitcoin / post-Bitcoin; that 10% isn't a very useful metric. If Bitcoin is using locally underutilized electricity, I don't see anything wrong with this adv
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by Mengkudulangsat 8y ago
Many commercial solutions for Bitcoin payments seem to focus on e-commerce, which I believe is addressing the wrong market. The most common medium for companies in developing countries actually needing Bitcoin are paper (or .pdf) invoices.
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by Mengkudulangsat 8y ago
You bring up a valid point, and indeed the cost math doesn't add up at the moment. My argument is that if you are an e-wallet provider specializing in Vietnamese Dong, then implementing a Bitcoin wallet into your existing offerings is
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by Mengkudulangsat 8y ago
WeChat and Alipay are here already, but the market is already fragmented when they arrive. They also pose the risk of vendor-lock, which is worrisome to local businesses and regulators due to their links to China. It's one thing to hav
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by Mengkudulangsat 8y ago
No single entity needs to take the burden of developing the whole regional infrastructure themselves, they just need to do their own thing, for their own market, and accept Bitcoins for their own wallet. There are exchanges in almost every
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by Mengkudulangsat 8y ago
China / US / Europe are not good proving grounds for Bitcoin. Those are large single markets served by a single currency. Southeast Asia on the other hand, is fragmented across 10 financial systems. What Bitcoin offers, that centr
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by Mengkudulangsat 8y ago
I had the opportunity to translate technical documents for both conventional and sharia financial products a few years ago, and I find the market fascination of them mind-boggling. These products seemed to incorporate convoluted jargon and