etr-strike

9 ms·

31.
by etr-strike 9y ago
Except clients don't need a third party to store their Bitcoin, unlike gold. Additionally, the blockchain is a public ledger -- anyone can audit it.
32.
by etr-strike 9y ago
Still your opinion. In order to accomplish the above, monetary experiments at a level never before seen were needed. The QE experiment is, at best, half over (they still need to get rid of all the assets they purchased). Driving interest
33.
by etr-strike 9y ago
> As you point out - viciously unfair - but better in the long run. That's your opinion, not fact. Banks are larger than ever. Inequality higher than ever. Housing more expensive than ever. The world is more unstable now than it
34.
by etr-strike 9y ago
I agree, but it's not the $500 some people are claiming it to be. Also it confirmed in a reasonable timeframe. I have the following hopes for bitcoin: 1) People upgrade to segwit 2) The people spamming the network stop 3) Lightning Ne
35.
by etr-strike 9y ago
Hmm I'm confused in that case. Did the Fed start publishing it again? The link I provided is to the official Federal Reserve website clearly stating they are discontinuing the publication of M3.
36.
by etr-strike 9y ago
Sounds like you're intentionally trying to be disagreeable. You don't like the features Bitcoin provides. That's fine, don't use it. Plenty of other people do like them. That's what gives Bitcoin its value.
37.
by etr-strike 9y ago
> Thanks suckers for giving me your warm wallet.....time to fake a hack and shut down this sucker. Anyone who appreciates the properties of bitcoin is using a cold wallet. The cold wallets available on the market today are quite robust
38.
by etr-strike 9y ago
Bitcoin is as real as the USD. At least with Bitcoin you know what the properties of your currency are. The Federal Reserve doesn't even publish the amount of M3 money anymore: https://www.federalreserve.gov/releases&#
39.
by etr-strike 9y ago
Cryptocurrency is useful. Bitcoin allows me to be my own bank. The rules of consensus define characteristics of money I believe are important. It allows me to save my money outside of the global financial system, a system I believe is co
40.
by etr-strike 9y ago
Litecoin is essentially the same as bitcoin with slightly different chosen constants. Bitcoin is optimizing for decentralization, Litecoin is not. If people actually used litecoin it’d have the same exact problems.
41.
by etr-strike 9y ago
Yea, no.
42.
by etr-strike 9y ago
I mean, segwit was activated. That doubles the capacity of blocks. People just need to upgrade. Lightning Network is moving quickly. It is live on mainnet, tho still considered unstable. Schnorr signatures are in development. This will fu
43.
by etr-strike 9y ago
Not sure what you’re measuring... gdax alone averages around 25k btc traded per day. At today’s price that’s 450mil usd
44.
by etr-strike 9y ago
Yea, it’s better people just hoard houses to escape inflation.
45.
by etr-strike 9y ago
Inflation is responsible for the wage slavery we find ourselves in today. Those peddling inflation and control of the money supply as a necessary component of modern economics are peddling snake oil. Price discovery is hard enough without
46.
by etr-strike 9y ago
You may not know this, but any stocks you own in your brokerage aren't owned by you. They're owned by your brokerage. In all likelihood, your shares are currently being lent to someone and used in short sales. It's entirel
47.
by etr-strike 9y ago
Huh? This is referring to a specific api call of a bitcoin library. The developer did not fully understand the API he was calling. This has nothing to do with a specific wallet GUI.
48.
by etr-strike 9y ago
Sounds like you're arguing for another global financial crisis that isn't limited to cryptocurrencies.
49.
by etr-strike 9y ago
Unlike people who invest in the stock market, no one buying cryptocurrencies in under the delusion they'll be bailed out.
50.
by etr-strike 9y ago
Coinbase is insured via FDIC, so I don't think "poorly" as an appropriate adverb.
51.
by etr-strike 9y ago
Debt is given for student loans, and education has never been more expensive. Cheap debt is given for housing with a mere 10% down becoming quite common, and housing has never been more expensive. Debt is being used by companies to buy back
52.
by etr-strike 9y ago
"Cheap money" implies people are taking on debt to buy bitcoin. I see no evidence of this. Real estate, on the other hand...
53.
by etr-strike 9y ago
To be clear: You can sell 100 btc today for USD. Coinbase will hold your USD (and the balance is insured). They will limit your withdraws to 10k, however. To take out more faster, you'll need to contact them and speak with a human. N
54.
by etr-strike 9y ago
Sorry, I don't believe proclaiming "Bitcoin is a bubble" is a "well-measured criticism" of Bitcoin. And people taking time out of their day to make such baseless claims are coming out of the woodwork lately. When th
55.
by etr-strike 9y ago
I purchased Bitcoin to escape what I believe is a financial system based on fraud. Who are you to say what my motivations are for purchasing Bitcoin? Who are you to speak for everyone else deciding to purchase Bitcoin? It takes quite an
56.
by etr-strike 9y ago
It's not just hard drive space. A CPU is needed to verify the contents of the block (and, in ethereum's case, validate the results of any smart contracts). Increasing blocksize also increases validation time. In some cases, the
57.
by etr-strike 9y ago
The USD is regularly debased to reward people who have taken on debt. Bitcoin, on the other hand, has a fixed supply that cannot be manipulated.
58.
by etr-strike 9y ago
This is a rediculous argument. You can’t just introduce a radically new technology and currency to the market and expect it to instantly be priced at is true value. Give it time. Bitcoin is a populist movement. Eventually the market will f
59.
by etr-strike 9y ago
I did not say this was a widely adopted use case yet. I'm just pointing out that every green energy producer in the world right now currently burns off excess energy as waste heat. If they move to mining bitcoin instead, they'll
60.
by etr-strike 9y ago
You recalled that line about when the taxi driver starts giving stock tips? Wow, you're so original. No one involved in bitcoin over the last 8 years has heard that one before. What other insights do you have?

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