djschnei

8 ms·

31.
by djschnei 4y ago
Predictable from the beginning. Sane setup: 1) Auto Direct deposit % of paycheck into something like Swan Bitcoin 2) Daily auto DCA using direct deposit balance 4) Weekly auto withdrawal to cold storage Set it and forget it. Trust minimize
32.
by djschnei 4y ago
When the guys with guns say so.
33.
by djschnei 4y ago
> cryptocurrency is not currency Why? Because you said so? > not decentralized Bitcoin is quite possibly the most decentralized computer technology ever created. Name something more decentralized. > not private I processed arou
34.
by djschnei 4y ago
I subsidized a rather large solar installation on my farm by mining with the excess electricity. This installation drastically lowers my reliance on the grid. Oil and Gas companies are reducing CO2-equivalent emissions by about 63% by mini
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by djschnei 4y ago
Bitcoin incentivizes cheap energy production. We need more cheap energy. Bitcoin does nothing to alter or effect other incentives or disincentives on energy production. Assuming prices are equivalent, it's net neutral on production mi
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by djschnei 4y ago
Terrible analogy. Energy production requires large upfront investments in infrastructure. There is nothing analogous to seed in energy. There are only farms and corn that expires extremely quickly and is hard to transport.
37.
by djschnei 4y ago
How's your at home aluminum refining going? I unfortunately haven't had much luck monetizing my at home hydrogen electrolysis plant :(
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by djschnei 4y ago
> Bitcoin doesn't discriminate between green energy sources and fossil fuel energy sources. BINGO! If you have something that will buy any left over or unusable stock of product X, the production of X becomes less risky and easier t
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by djschnei 4y ago
> limiting energy use is vital to avoid climate catastrophe. This is what I have issue with. Energy use benefits humanity. Full stop. If you said civilization needs bananas to survive and flourish, then some good samaritan came along an
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by djschnei 4y ago
You are wrong. You will have incredibly realtime examples of how dangerous this way of thinking is when winter hits Europe this year. Energy is life. It's not a "nice to have" or something people "enjoy".
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by djschnei 4y ago
> that we free up by making technology more energy efficient This is 100% a fake problem that clearly does not exist if you understood anything about the energy market. Civilization is at an increasing rate consuming more electricity
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by djschnei 4y ago
Completely agree. Energy consumption is what enables human flourishing. Quite frankly, "Energy consumption = bad" is pro-human suffering. The lack of nuance in that argument is tiresome.
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by djschnei 4y ago
Integration is totally fine, and I think payments are a very valid use-case. But the app doesn't rely on a blockchain or have a token to achieve its core functionality. > Supporting Bitcoin in any way is a sign that they are inca
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by djschnei 4y ago
The fact that they didn't shoehorn a token or blockchain into the app's design is amazing and refreshing. Blockchains are a terrible solution for 99.9% of problems. The ONLY reason a vast majority of projects incorporate a token
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by djschnei 4y ago
The bitcoin/Lightning support is a huge positive for me. I really hope they keep that.
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by djschnei 4y ago
stacker.news on the front page of hackernews, nice.
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by djschnei 4y ago
Calling Lightning a "hack" is like calling TCP a hack of IP. First principles of protocol design literally dictate layered modular stacks. Actual ideas: Bitcoin is layer 1 of the internet of value. It only needs to be secure, de
48.
by djschnei 4y ago
lol, new here? That discussion has been going on for YEARS. Discussion doesn't negate anything I said.
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by djschnei 4y ago
Stop using these token casinos. Selling you unregulated securities and creating bag holder "communities" is all they are good for. They know how gross they are so they're going to kowtow to the regulators so the regulators
50.
by djschnei 4y ago
well, there are multiple factors, supply cap is one. Unchangeable issuance schedule (i.e. unchangeable monetary policy) is another gigantic aspect. No other project can guarantee the same immutability because no other network is defended
51.
by djschnei 4y ago
It's impossible to consider Bitcoin without considering lightning. Two sides of the same coin. It's still early in its adoption curve for sure, but it has been gaining traction. - Twitter uses lightning for its tipping mechanism
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by djschnei 4y ago
> completely forgo all of Bitcoin's guarantees ah, he doesn't understand at all how lightning works. He's just repeating sound bites.
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by djschnei 4y ago
Bitcoin slow? I make virtually free, instant, micro-payments on Bitcoin hundreds of times every day (Podcasting 2.0). I also accept Bitcoin payments on my e-commerce site that settle instantly for fractions of a percent in fees. I also r
54.
by djschnei 4y ago
I'd suggest doing more research before commenting about things you don't understand. Layered Money by Nik Bhatia would be a good place to start. The concept of layered system design, especially in money and technology, is not new
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by djschnei 4y ago
No other system/project anchors a digital currency to the physical world as effectively as Bitcoin. But I do agree, eventually L2+ will be much more popular , in so far as much more people will interact with them. That's kind o
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by djschnei 4y ago
Which projects are simply designed to be hard money ?
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by djschnei 4y ago
Valid transactions are enforced by nodes, not miners (there are WAY more nodes than mining pools). All of a miner's incentives persuade them to mine on the longest chain, lest they lose out on potential profits. A group of nodes and
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by djschnei 4y ago
Completely agree. It's impossible to inspect any aspect of Bitcoin's design without considering its incentive structures. They are the innovation in my mind. Every blockchain/crypto/Dao/<insert buzz word>
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by djschnei 5y ago
> 1. Denominated in U.S. dollars; > 2. Issued and guaranteed by the U.S. government; > 3. Available for retail use by the public; > 4. Not reliant on a common ledger or any third-party payments processing intermediary; and >
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by djschnei 5y ago
Another day, another Github incident...

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