aminok

54 ms·

451.
by aminok 12y ago
The only thing that could restore Detroit is a restoration of American capitalism, with drastic reductions in taxes and social welfare spending, and elimination of regulations designed to protect labour. In essence, Detroit would have start
452.
by aminok 12y ago
I guarantee this was lobbied for by existing payment companies.
453.
by aminok 12y ago
>Without "generalizations" we could say nothing about how whites treated blacks post-slavery Any negative generalization about a non-white group would be characterized as racist, yet you think it's okay to make generalizat
454.
by aminok 12y ago
>Facebook tried to brand itself as a utility. However it's not. Its social network is neither a necessity to join nor impossible to compete against. Utilities are those things we traditionally call utilities, like electricity, water
455.
by aminok 12y ago
There's nothing wrong with the developed world providing a service to the developing world. It's a symbiotic relationship, as both are better off from the arrangement. Mining farms in the developed world giving Somalians in the de
456.
by aminok 12y ago
Hardly anyone thinks Bitcoin is going to displace national currencies. In a Bitcoin success scenario, bitcoin would be an additional currency that co-exists with inflationary currencies. As governments will always retain the power to tax, t
457.
by aminok 12y ago
The experience of a brand new tech industry is not indicative of its future. As mentioned, the internet matured, and became safer, on its own, without regulations. Regulatory prohibitions would have destroyed everything good about the inter
458.
by aminok 12y ago
>As for comparison payment processing space, this is more in point 1. Bitcoin is not cheaper. Bitcoin is extremely expensive to use and intended to be expensive. Bitcoin is currently overly secure, due to the block subsidy, so therefore
459.
by aminok 12y ago
Almost everyone agrees with the 1 MB block size limit being removed, and replaced with something else. The only question is what it will be replaced with.
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by aminok 12y ago
It doesn't follow that if there are 6500-7000 nodes now, there will be fewer with larger blocks. If larger blocks allow for a larger economy, there will also be more candidates for running full nodes. Things are different when the perc
461.
by aminok 12y ago
Bitcoin succeeding would not be like putting the world on a gold standard. Bitcoin is outside the control of governments, and would be an additional currency, that supplements, rather than substitutes, the current money stock.
462.
by aminok 12y ago
I don't believe people should be banned from doing a whole host of things to ostensibly prevent cheating and fraud. The faith you have in centralised authority is extremely dangerous and leads to things like the multi-trillion dollar L
463.
by aminok 12y ago
Does Paperspace Inc. have access to the unencrypted data? i.e. does user data sit unencrypted on Paperspace's servers?
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by aminok 12y ago
>There is a direct relation between the volume of transactions and the amount of miners needed to process them, Almost the entire cost of mining is in running ASICs to produce proof of work, not in validating transactions. The cost to pr
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by aminok 12y ago
The Iraq sanctions didn't prevent the Iraq war. Sanctions are the staging ground for war. They eliminate domestic stakeholders in the enemy country, reducing domestic opposition to a hot war.
466.
by aminok 12y ago
>Do you have an idea of the quantity of power Chinese bitcoin mining farms consume? That's only for the few transactions that the networks processes right now. Other than the accelerating effect of transaction fees on mining resourc
467.
by aminok 12y ago
>In reality I need to go to an exchange, convert to bitcoin, then go back to either the same exchange or a different exchange and convert from bitcoin, all in all I've gone through two intermediaries and paid two fees. The intermedi
468.
by aminok 12y ago
This is not like Gnutella's supernode solution. The Lightning Network works on top of the Bitcoin network, which would continue being flat, with all nodes being equal.
469.
by aminok 12y ago
You can transport value across the world instantly, with no intermediaries. This is a major efficiency gain. With the Lightning Network, you could transport any amount of value, instantly, for very close to zero cost, allowing things like p
470.
by aminok 12y ago
For international fund transfers, yes. It doesn't require using correspondent banks. It's a direct, point-to-point transfer of value.
471.
by aminok 12y ago
You could use a Coinbase USD account, that only converts to BTC at point of purchase. This eliminates all volatility risk. If anonymity is important to you, then you can hold BTC, and pay the volatility cost.
472.
by aminok 12y ago
Which is why a 2-3% discount for Bitcoin purchases is appropriate. With reputable merchants, I would be willing to give up the ability to charge back for an additional 1-2% discount.
473.
by aminok 12y ago
Edgy teens love people who rail against logic, conventional wisdom and the established way of doing things, so Yanis should have a lot of fans in the West, just as Chavez did, just before he set Venezuela on a course for economic ruin, and
474.
by aminok 12y ago
Marxism holds that the capital owner commits "wage theft" against the employee everytime he profits. It's sophomoric, flawed logic for edgy teens.
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by aminok 12y ago
Greece is doomed with pontificating populists like Varoufakis, who are ever eager to take the path of least resistance and pin the blame on an unpopular minority, leading the government.
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by aminok 12y ago
Marxism is a flawed theory, so all implementations of it will be flawed. The capital owner is not committing wage theft when he hires an employee and makes a profit.
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by aminok 12y ago
Proof of stake is not distributed consensus. It falls back to trust-based consensus in an attack scenario.
478.
by aminok 12y ago
How it would work: https://news.ycombinator.com/item?id=9054764
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by aminok 12y ago
You can have a micropayment channel between the user and their email provider, and between email providers. When User A wants to send an email to User B, he sends a micropayment through one of these channels to his email provider. His email
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by aminok 12y ago
Nice! Any plans to use micropayment channels?

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