ballofrubber

8 ms·

31.
by ballofrubber 6y ago
> - Little to no transaction fee - Near instantaneous transaction time That can be done with Bitcoin today. Download a lightning capable wallet in the appstore of your choice and post an invoice, I can instantaneously pay that to your wa
32.
by ballofrubber 6y ago
Also I might add that the probability that the layers that people will use will be open source is very high. This inherently makes it more accessible to everyone. If we look at the Lightning Network (a 2nd layer solution), there are 3 mains
33.
by ballofrubber 6y ago
Even at the current state you wouldn't be able to source all the asics needed for a 51% attack.
34.
by ballofrubber 6y ago
Because the base layer can be audited and not meddled with by third parties. Everyone can build their own layers on top. There is no permission needed. It's the peoples money.
35.
by ballofrubber 6y ago
Care to elaborate? I don't see why it shouldn't. I will always want the best SoV in exchange for my services, why would I want something else? If I need to exchange the currency for a SoV everytime, I might get the SoV from the ge
36.
by ballofrubber 6y ago
The energy costs of a block are not in relation with the amount of transactions in it. Just because you have two numbers, doesn‘t mean you should divide them. Short rant: The current settlement system is layers up on layers of legacy system
37.
by ballofrubber 6y ago
Exactly! Isn’t it awesome how secure the network is!
38.
by ballofrubber 6y ago
It's because the currency gold is priced in is going down year by year. Why should you spend your gold if your fiat is worth less tomorrow? That's besides the point that gold is practically unusable as a currency for convenience r
39.
by ballofrubber 6y ago
1. You don't decide whats a waste of energy or not. 2. https://www.youtube.com/watch?v=xLYYh4aPXAM 3. Bitcoin Mining will make investments in renewable energy a lot less riskier as you can scale up as much as you want
40.
by ballofrubber 6y ago
> There is a reason the target inflation is at ~2% almost everywhere. We need inflation to keep the economy going. Inflation is completly based on politics and it's as much an experiment as central banking is. It works until it does
41.
by ballofrubber 6y ago
So you decide whats a waste of energy then? Here watch this: https://www.youtube.com/watch?v=xLYYh4aPXAM Bitcoin mining allows energy companies to de-risk an investment in green energy solutions such as solar. If you place
42.
by ballofrubber 6y ago
For sure a technology that - has 100% uptime - 0 network-level hacks - allows global large value transfer in less than an hour - allows global micropayments in less than a second - is a new asset class with unimaginable global impact is not
43.
by ballofrubber 6y ago
You don't create a non-volatile currency over night. People need to want it first. A currency needs to be a store of value to become a means of exchange. Why would I want to exchange my bitcoin when its price is not even figured out y
44.
by ballofrubber 6y ago
This post is so fundamentally flawed it's baffling someone upvotes it. > Every advocate promotes holding, which is not what a currency is for: currencies are meant to be a medium of exchange and to change hands. You cannot dictate w