jcfrei

63 ms·

751.
by jcfrei 9y ago
This is a misleading argument. Yes, miners will always spend more until marginal revenue == marginal cost. The problem with the proof of work system of bitcoin (and many others) is its inefficiency that only allows for a low transactions th
752.
by jcfrei 9y ago
> If I just want to send funds from A to B, the current value of bitcoin in fiat [ USD / GBP / JPY ] is less important than being able to exchange it for the local fiat at each end. Do you mean using bitcoin as an intermediary
753.
by jcfrei 9y ago
I still don't get why people consider bitcoin a suitable form of currency. It has a fixed supply, so its value is going to vary wildly - depending on demand. That's the opposite of what you want from a currency (where your main go
754.
by jcfrei 9y ago
Not OP, but here's a thought that has bugged me for a while: The bitcoin block reward is currently 12.5 BTC which equals to about 42500$. Put differently, this means that the market currently values 1MB of (transaction) data on the bi
755.
by jcfrei 9y ago
Inflation has been trending lower for decades, so this is an unlikely cause. Also inflation benefits debtors and punishes savers. Many middle-class households have debt in the form of mortgages and have therefore benefited from high inflati
756.
by jcfrei 9y ago
I had this same idea for quite a while and it's nice to see it has got a proper name. I always wondered whether it would make sense when it's applied to jobs - ie. jobs like being a chef or bartender will be around for a long long
757.
by jcfrei 9y ago
> ChainCoin has no value proposition, nothing to differentiate it, and the dev team abandoned it a long time ago, so why would anyone purchase this crypto? It's the same with stocks; you have to be able to understand the financials,
758.
by jcfrei 9y ago
I share your concerns, however we already have assets with deflationary values like gold. I'm wondering why hasn't every saver already put all his money into gold? Is it just because you can't use it to pay small amounts (lik
759.
S&P 500’s Biggest Pension Plans Face $382B Funding Gap(bloomberg.com)
1 points by jcfrei 9y ago|0 comments
760.
Parity multisig wallet exploit hits Swarm City funds(press.swarm.city)
3 points by jcfrei 9y ago|0 comments
761.
by jcfrei 9y ago
There are some good economic arguments to be made in favor of frequent batch auctions. Check out the following presentation by Eric Budish from the University of Chicago ( https://simons.berkeley.edu/talks/eric-budish-2
762.
by jcfrei 9y ago
The simulation starts with each user having 14 channels open - seems like quite a strong assumption for a serious test (starting with 0 channels for each user and then randomly opening new ones would be much more interesting). After a talk
763.
by jcfrei 9y ago
DAG and not DAO of course... The mathematical description is straightforward however the implementation (for example mining fee distribution) seems fairly complicated and loses a lot of the beauty of a blockchain. AFAIK Iota is the first se
764.
by jcfrei 9y ago
There are some new attempts being made without using a blockchain but still reaching the same level of consensus or finality. They are usually based on DAOs (directed acyclic graphs - not to be confused with The DAO Organization). A good in
765.
by jcfrei 9y ago
> Not really. The odds of an attacker successfully generating a double-spending block remain the same with a lower block interval. Many alternative cryptocurrencies have far shorter blocktimes: Litecoin has 2.5min blocktimes, and ethereu
766.
by jcfrei 9y ago
> There is no mechanism to link cost of proof of work generated to the value being transacted. With a blockchain, scarcity of space per block leads to a fee market forming, and fees paid increasing as the value contained per transaction
767.
by jcfrei 9y ago
I think it's important to point out that this is their second attempt at making a hedge fund with crowdsourced investment strategies. Their first attempt failed because they would pay out rewards (bitcoins) based on the performance in
768.
by jcfrei 9y ago
If a lot of companies who performed an ICO would actually cash out ether prices would tank pretty fast. There are a couple of paragraphs in the very recommendable Crypto Trader Digest (written by the people of BitMEX) which goes into a litt
769.
Examining Bitmain’s Press Release(medium.com)
1 points by jcfrei 9y ago|0 comments
770.
by jcfrei 9y ago
I'm surprised by your assessment of Matt Levine. He has great insight into the world of finance and has shed light on many complicated issues (for example this great article about Dell going private: https://www.bloomberg.co
771.
by jcfrei 9y ago
There's a facility in Switzerland which does exactly that: http://www.alpiq.com/news-stories/media-releases/media_relea... It provides "negative balancing energy" and turns water into steam.
772.
by jcfrei 9y ago
I think the Wired article misses the bigger picture. As you mentioned, the industry of providing network access is one with huge economies of scale. The result (if left unregulated) is always a monopoly or an oligopoly - with certain region
773.
How Bitcoin exchanges can screw up your withdrawals(jcfrei.com)
1 points by jcfrei 9y ago|0 comments
774.
by jcfrei 9y ago
Your argument only works if society gets nothing in return for paying taxes.
775.
by jcfrei 9y ago
Related question: Couldn't we create some sort of rocket elevator with huge and very high balloons?
776.
by jcfrei 9y ago
In order for a decentralized and autonomous blockchain to live up to it's name it needs to provide value to those who verify the transactions on it (ie. the miners or those who hold a stake in case of PoS). So the two extreme outcomes
777.
by jcfrei 9y ago
I always find this introduction (including a "live demonstration") by Anders Brownworth very illustrative: https://anders.com/blockchain/
778.
Google Daydream’s Star Wars VR Experience Touts PC-Level Graphics on Mobile(uploadvr.com)
2 points by jcfrei 9y ago|0 comments
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by jcfrei 9y ago
I found a good article that you might be interested in: https://www.saveonsend.com/blog/bitcoin-money-transfer/ (make sure to read the comments as well for some actual use cases!) Growth in usage for international
780.
by jcfrei 9y ago
The most important (legal) use case is probably as an alternative to international wire transfers or services like Western Union. There are a few startups in this space, like luno or localbitcoins.

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