keymone

83 ms·

901.
by keymone 8y ago
> When I have $100 in my wallet, I actually have $100 yeah, tell that to Venezuelans. > You completely fail to address the point - when making a transaction, removing the bank from the picture actually hurts purchasers and demands far
902.
by keymone 8y ago
oh boy.. not your keys - not your bitcoin. that's the mantra in crypto world. you're just repeating nonsense you've heard somewhere. whether exchange gets hacked is irrelevant to bitcoin i own if i'm the only owner of th
903.
by keymone 8y ago
oh yeah, they have so much control, they've totally fixed the problem of torrenting, child porn and illegal markets. don't be naive, you can't block bitcoin any more than you can block porn. besides, internet is no longer the
904.
by keymone 8y ago
i don't see a lot of good faith in your arguments if you keep sticking to 4tx/sec and measuring bitcoin costs in per-transaction terms. i'll repeat and lets see how much good faith you have: payment channels encapsulate poten
905.
by keymone 8y ago
nope, you're the one talking nonsense. when your bank tells you you have $100 on your account - it's a lie, all you have is a record in a database and never actual $100 in a safe to back that up. all you have is trust that the ba
906.
by keymone 8y ago
> By what measure do you want to back up the claim that the current system is far more energy intensive? I'm trying to find one and honestly struggling. how much damage financial and environmental have politicians and military have
907.
by keymone 8y ago
Bitcoin is the most energy efficient way to establish distributed and trust less consensus. Have better ideas - link me to your whitepaper, I’m sure you will become more famous than satoshi.
908.
by keymone 8y ago
It costs way less than current financial system costs even normalized for market cap or transaction volume because it involves politics and military.
909.
by keymone 8y ago
Ordering transactions.
910.
by keymone 8y ago
per Transaction calculations are completely flawed. If transaction cost was the primary goal - bitcoin would have been a centralized mysql database. Decentralized and secure ownership of your assets that doesn’t involve trust, politics and
911.
by keymone 8y ago
If you try reading my comments again you will realize I’m not claiming military and politics are “going” somewhere because of crypto.
912.
by keymone 8y ago
that’s the whole point - bitcoin manages to do that without trust. Trust is dangerous, we’ve been dealing with trust based financial system failures for hundreds of not thousands of years.
913.
by keymone 8y ago
energy would be wasted if it wasn't possible to prove the thing you said bitcoin proves. proof is the product of spent energy, therefore it's not wasted.
914.
by keymone 8y ago
> Politics and the military are the foundation of all society politics - maybe, military - not necessarily, just an artifact of infancy of our civilization. > Those things won't go away because of cryptocurrency those things will
915.
by keymone 8y ago
only for somebody not willing to think about how much damage corrupt (and not corrupt too) politicians and military have inflicted upon this world during short history of human civilization. financial and environmental. if there's a
916.
by keymone 8y ago
No goalposts have moved. Banking system involves politics and military in securing your finances. It is therefore many orders of magnitude more expensive than bitcoin even if you normalize by market cap of transaction volume or pick your ow
917.
by keymone 8y ago
It’s natural way of life. If a system is subject to being controlled by political process, which PoS is unlike PoW, it will eventually be overrun by politicians. Just common sense.
918.
by keymone 8y ago
Yeah, way to miss the point. Bitcoin is money where security is expressed in terms of energy. Banking system uses energy and military to achieve the same job. Do i really need to elaborate further?
919.
by keymone 8y ago
Energy is a product on the market. Whoever wants to pay for it is free to do it, what’s your problem? Besides you seem to be missing one important fact about energy - it is very expensive to store much of it, which is why many bitcoin farms
920.
by keymone 8y ago
No it isn’t, banking system is idiotically expensive using much more raw energy but also is open for corruption, is run by greedy bankers that governments have to bail out all the time for taxpayers money, etc, etc. current financial system
921.
by keymone 8y ago
Proof of stake may not involve energy costs directly but it has far worse consequences - costs are just shifted into political plane. Which is essentially what bitcoin was designed to avoid. You do know that idea of pos is older than PoW, y
922.
by keymone 8y ago
What’s your source? From what I’ve heard bitcoin mining farms in China are located in regions taking pretty much all energy from hydro.
923.
by keymone 8y ago
Your understanding of why bitcoin uses energy is completely skewed. Bitcoin doesn’t use energy to process transactions or ensure a functioning p2p network, bitcoin is the first time in history of money, that money can be expressed as energ
924.
by keymone 8y ago
No, we really shouldn't. Our civilization will be dead if it doesn't distribute across planets and other stars, it's just a matter of time. A concern about political issues between colonies is just putting the cart before the
925.
by keymone 8y ago
well maybe the reason it's growing in popularity is the fact that generally accepted medical and regulatory advice has been idiotic, focused on reducing fats and replacing them with sugars and carbs which resulted in obesity and diabet
926.
by keymone 8y ago
yeah, it wasn't recommended because for treating epilepsy they were using a powdered meal replacement (like soylent) and were missing some essential ingredients like phosphorus. it's absolutely a diet that can work for anybody, it
927.
by keymone 8y ago
I read it.
928.
by keymone 8y ago
Also less affected by turbulence. Also more room to walk around and stretch. Also more space above your head. The greatest passenger jet in history.
929.
by keymone 8y ago
> It can also be extremely expensive, both in data storage and in the energy required to maintain it. Bitcoin has the most expensive consensus algorithm the world has ever seen, by far. When Bruce complains that Bitcoin's consensus
930.
by keymone 8y ago
i don't get it, how do you go from difference of squares turning into sequence of odd numbers to absence of power of some integer?

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