Quindecillion

14 ms·

91.
by Quindecillion 4y ago
While Satoshi certainly had libertarian leanings, I don't see how anyone could possibly assign him to the "right" side of the political compass > “It’s very attractive to the libertarian viewpoint if we can explain it prop
92.
by Quindecillion 5y ago
That's funny because I don't see saving my money in Bitcoin as "speculative" at all. I see it as long-term savings for retirement and inheritance. There's no trading going on. As they say, time in the market is bett
93.
by Quindecillion 5y ago
> It's not usable as a currency except in the most dire circumstances and no one is working to fix this. Transactional currency has been abandoned as a goal by every major crypto project That's simply not true. https:/&#x
94.
by Quindecillion 5y ago
> Crypto is a greater-fool investment, hence the cultfest. You require someone else to come with their money in order for you to exit successfully. That's only true if someone saving in Bitcoin intends to "exit". I certain
95.
by Quindecillion 5y ago
None of that surprises me. It's the first country to ever adopt Bitcoin as legal tender. Of course there are going to be technical teething issues. And the % adoption is unsurprising too. It's going to take years, probably decades
96.
by Quindecillion 5y ago
> This... doesn't make sense. Spending is selling. You're just selling for something other than currency. When you go to the shop and you buy something with money, do you consider that as "SELLING your money"? This is
97.
by Quindecillion 5y ago
> (and nope the Lightning Network is not Bitcoin) What is it then? > I would not go far to dismiss all of them. I would. Every single crypto is an affinity scam of Bitcoin. They're just unregistered securities of companies. Bitco
98.
by Quindecillion 5y ago
You're thinking about it all wrong. Lots of "Bitcoiners" don't really see it as an "investment". It's a savings. There's no greater fool to sell to as exit liquidity because we're not looking to
99.
by Quindecillion 5y ago
Some pretty sad stuff in there about the lady putting her retirement savings into NFTs and hoping they "pay off". Lots of people are going to get hurt by scams like "crypto" and NFTs. And yet, these articles always conve
100.
by Quindecillion 5y ago
This is actually one of the use cases that Satoshi Nakamoto spoke about in regards to Bitcoin mining. The purpose built machines for mining (ASICs) turn electrical energy into heat through performing hashes. If you need electrical heating t
101.
by Quindecillion 5y ago
Buckminster Fuller conceived of the "kilowatt dollar". Bitcoin fulfills this role well, but people are too busy conflating its energy consumption with carbon emissions.
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by Quindecillion 5y ago
Bitcoiners have been banging that drum for a long time, since the block size war and the inception of the Lightning Network. Takes a long time for the message to spread outside the Bitcoin bubble because Bitcoiners are largely ignored by th
103.
by Quindecillion 5y ago
I would get a little kick out of playing Metroid on that.
104.
by Quindecillion 5y ago
The idea of course is that eventually you would never need to convert back to fiat in the first place.
105.
by Quindecillion 5y ago
Good luck shutting down or controlling thousands of nodes on the Tor network. Don't see how any government could reasonably pressure enough nodes in that way, particularly ones that are in other jurisdictions.
106.
by Quindecillion 5y ago
I quit news a few months ago, but I felt guilty about it for a while. The feeling was that it was only through my exorbitant privilege that I was able to do that, but in all honestly... do people less privilege than myself derive any value
107.
by Quindecillion 5y ago
> The community, and how the gameplay has changed over the years. In the "olden times", the main focus of the game was the social aspect. There were limited hunting grounds, so people spent their time hanging around and talking
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Bitcoin: Disrupting Cross Border Payments – IMF Fintech Seminar(youtube.com)
3 points by Quindecillion 5y ago|0 comments
109.
by Quindecillion 5y ago
> It makes no sense to me how bitcoin is still number one cryptocurrency despite it's garbage fundamentals. Failed at everything it was supposed to do. Peer-to-peer, permissionless, trustless (i.e. not controlled by any one entity),
110.
by Quindecillion 5y ago
> why it's actually been one of the most slowly adopted technologies in the last 100 years. That doesn't agree with the data I've seen for Bitcoin: https://twitter.com/woonomic/status/135631021921
111.
by Quindecillion 5y ago
Yes, all other "cryptos" are just products developed by companies who place themselves at the top of the pyramid. This is one of the key properties that makes Bitcoin so important. There is no company that administrates over it. T
112.
by Quindecillion 5y ago
> Do you know why the majority of those people don't have bank accounts? Because they have no fucking use for it! Everyone has use for a way to store their wealth, no matter how small. Economies that use money, in whatever form, are
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by Quindecillion 5y ago
> People don't see it's a tech that was invented without a use case? Have you read a single quote from Satoshi Nakamoto? He's very clear about the use case... many times.
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by Quindecillion 5y ago
Yeah... if you barely know how to use a smartphone Bitcoin isn't going to be much help to you, unless you learn. That doesn't mean Bitcoin isn't already helping millions of people in these types of countries that have unstabl
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by Quindecillion 5y ago
You probably wouldn't use Bitcoin for direct payments, though you certainly could if someone else was willing to accept it. I imagine you'd primarily use it to store wealth on an open and permissionless network, and then convert i
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by Quindecillion 5y ago
As I said, it's just all so tiresome. > People are never allowed to criticize it without the same, repeated feedback “If that’s what you think blockchain is, then you don’t understand it.” That's because the criticisms are alwa
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by Quindecillion 5y ago
> Adoption... Bitcoin has roughly 500K transactions per day with an estimated 80% of them being trades (with an estimated 77% of those trades going through the "big three" exchanges). Source for this? Also, all of these transac
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by Quindecillion 5y ago
More bad takes from people who don't understand the point of Bitcoin and its blockchain. It's all so... tiresome. The fact that the author is comparing to services like Venmo or PayPal really goes to show how much they don't
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by Quindecillion 5y ago
On a slightly different tangent, has anyone noticed that predictive text while typing on a phone (iPhone for me) seems to be getting progressively worse? Like it predicts the most random words that have little connection to what I typed on
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by Quindecillion 5y ago
"Wasted" is a value judgement. Miners put the effort in to procure the energy and then choose to spend it on hashes. It is by definition not wasted. You know Christmas lights in the USA use up more energy than the Bitcoin network

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