kayamon

14 ms·

121.
by kayamon 4y ago
There'll be a bailout. They don't let the rich folks go poor.
122.
by kayamon 4y ago
The moment Target start accepting Bitcoin/Lightning payments, yes, I'll be buying all my groceries via that thank you.
123.
by kayamon 4y ago
Whose 401K was plundered to fund these bad investments?
124.
by kayamon 4y ago
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
125.
by kayamon 4y ago
If they don't laugh at your joke maybe it wasn't funny.
126.
by kayamon 4y ago
Due to the ongoing events in the eastern Europe area, there's quite a lot of people who might have energy they'd like to sell/use for something, but can't necessarily sell it to whom they might like to. If there's a
127.
by kayamon 4y ago
Believing a stablecoin to be stable because it has the word 'stable' in is like believing a country to be democratic because it has 'Democratic' in the name.
128.
by kayamon 4y ago
No coins are ever 'worth' anything really. They're just coins. It's a question of who mints them, whether bad actors get to help themselves as the coins come fresh off the presses, and whether the economy that trades the
129.
by kayamon 4y ago
I don't think you've quite got it yet.
130.
by kayamon 4y ago
People mistake Bitcoin, which has no central custodian and will continue clearing transactions all day long, every ten minutes, immune to all interference, with the rest of 'crypto', which is a giant money-lending dumpster fire th
131.
by kayamon 4y ago
As long as communication can occur between the two populations (FTL will present its own problems in years to come), they will trade using the best money available and will not mine the lesser blockchain. All non-leading blockchains will ul
132.
by kayamon 4y ago
I suppose it depends if there's someone manipulating it. A coin like Bitcoin is immune to internal manipulation -- there's one Bitcoin mined every ten minutes, and no one can change that, no matter how much money they have. Satosh
133.
by kayamon 4y ago
haha try mentioning crypto and wait to see if a useful, informed, coherent discussion ensues.
134.
by kayamon 4y ago
Your question assumes money custodians behave in an honest fashion. An honest bank or exchange would simply keep your coins stored safely for you. But many places aren't honest, and make their money not from the transaction fees but by
135.
by kayamon 4y ago
I write on my own website, where I scream into the wind endlessly like an elderly person shaking his fist angrily at passing clouds. I don't believe anyone reads any of it but I find it helps me get my thoughts in order. It's host
136.
by kayamon 4y ago
I've found Twitter to be the best place to keep track of what's going on. Alex Gladstein's account[1] in particular is wonderful for following not just crypto but world macroeconomics and politics in general. [1] https:&#x2F
137.
by kayamon 4y ago
Not if it's a PoW crypto. You can't mine Bitcoin and Ethereum at the same time. You can't use electricity for two tasks at once. Conservation of energy --> conservation of money.
138.
by kayamon 4y ago
They won't willingly give it up, no. Sometimes the only answer is to pull their funding out from under them.
139.
by kayamon 4y ago
bitrefill.com
140.
by kayamon 4y ago
Why would someone mine a crypto with less dollar value when they could mine a crypto with a higher dollar value, bearing in mind they're going to sell it immediately? Blockchains are like Highlander. There can only be one. The more peo
141.
by kayamon 4y ago
Bitcoin is possibly the most important bit of engineering since the Manhattan Project. You may not have any interest in fixing the world but some people do. Bitcoin takes energy. You can't use that energy for two things at once. You ca
142.
by kayamon 4y ago
There's only one blockchain that'll still be functioning in 20 years.
143.
by kayamon 4y ago
We have many blockchains because people are idiots. They will all fail in time. Tic tock next block.
144.
by kayamon 4y ago
Satoshi proved that any blockchain that isn't currently the leader won't be mined and therefore will fall into disuse. Anyone who read the paper understands this, the principle of what's called Bitcoin maximalism. So if you w
145.
by kayamon 4y ago
It's only as strong as the blockchain it's hosted on though. Despite GameStop's best efforts, they may find the rug pulled from under them.
146.
by kayamon 4y ago
It's largely about inflation. Politicians can arbitrarily write blank checks to 'bail out' as many banks every year as they want, printing as much money as needed, but mostly that money goes to themselves and all their friend
147.
by kayamon 4y ago
The electrical costs are not there to do harm. They are there to ground the economy in reality. Energy is expensive. That's the point. A functioning world economy can't just exist in magic-computer-land, where it's just made
148.
by kayamon 4y ago
Bitcoin has inflation. One coin every ten minutes. Tic toc next block. There's the question of when new money enters the world, who gets to have it? Should it be randomly distributed, or should one guy in charge of the money printer ge
149.
by kayamon 4y ago
It'd be nice if there were a form of money that were created with a locked inflation rate, distributed at random, fair to all, voted upon by its users, backed by a real-world asset, and freely tradable online. Oh well.
150.
by kayamon 4y ago
Whenever people lose of money, that money has to be paid back to wherever they borrowed it from. Expect to see some more bank bailouts down the line to cover the cost of all this.

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