dingus9

4 ms·

1.
by dingus9 6y ago
Some exchanges will let you withdraw to a lightning wallet so you never have to interact with the base blockchain layer for smaller day-to-day transactions. I would imagine most exchanges will have similar lightning withdrawal options in th
2.
by dingus9 6y ago
> No institutional investor will pay 7% a year for money. The borrowing rate can be much higher than 7% for short positions. There are many different institutional investment strategies that are willing to incur wildly varying rates of i
3.
by dingus9 6y ago
A system where borrowers post $250k collateral to borrow $100k, in theory, sounds more sustainable than traditional lending models where a handful of large borrowers defaulting can start a domino effect until a central bank steps in and pun
4.
by dingus9 6y ago
Good point. Some people online like to imply that paying for advice means you can blindly trust it. It's always a good idea to DYOR regardless. Something that you get with communities like HN and Reddit is being able to read replies to
5.
by dingus9 6y ago
I'm pretty impressed with some of the DeFi projects that are being developed. There have been some growing pains with issues like contract bugs and liquidation events during high volatility, but they seem to be improving. MakerDAO has
6.
by dingus9 6y ago
There will always be alternative marketplaces hosted by alternative web hosts that are willing to continue doing business with companies that are deemed dangerous to society... ...until banks and merchant processors cut off financial access
7.
by dingus9 6y ago
DeFi loans and platforms like blockfi let you borrow against your BTC.
8.
by dingus9 6y ago
Sanctioning political opponents kind of sounds like a dictatorship to me.
9.
by dingus9 6y ago
China would benefit more by confiscating all hashrate & hoarding all of the BTC for themselves before announcing that BTC is their national currency and driving BTC price to millions per-coin. It's just as farfetched and unlikely,
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by dingus9 6y ago
Remember UASF? If incentives align amongst users, nodes, merchants and exchanges Bitcoin absolutely will switch to another mining algorithm and now the attacker has to start from 0. If the attacker attempts to keep up the game of cat-and-mo
11.
by dingus9 6y ago
It's baked into the incentivization structure, if you prefer it worded that way. Investing hundreds of billions of dollars and years of work to place a temporary speed bump in front of Bitcoin's growth doesn't make sense.
12.
by dingus9 6y ago
Right. And now this theoretical actor that controls 10x the hashrate of the rest of the world has lost 10x the amount of capital invested compared to the rest of the mining world. It's the equivalent of shooting a bullet through your c
13.
by dingus9 6y ago
Right. The protections against this are already baked into the protocol. 51% attacks don't make sense because you're hurting yourself 51% and hurting everyone else 49%. And for this theoretical attack you'd probably need to s