kinakomochidayo

6 ms·

31.
by kinakomochidayo 1y ago
I don’t think Bitcoin whitepaper talks about ASIC monopoly and economies of scale :D
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by kinakomochidayo 2y ago
BTC in its current form is probably the biggest scam in existence right now. BTC does not work long term, as block rewards increasingly get cut in half and the transaction fees aren’t enough to incentivize the miners. It’s been well known o
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by kinakomochidayo 2y ago
Which is ironic, considering how Bitcoin security budget will very likely decrease as time goes on with Bitcoin halvenings and low transaction fees going to miners
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by kinakomochidayo 2y ago
I hope Circle wins out in the end. Tether is super sketch. The fact that they they’ve only done attestations but haven’t done a full audit says everything.
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by kinakomochidayo 2y ago
Good, there’s no reason to hold an asset with unaddressed critical security budget issues. As block rewards get halved every 4 years, if the transaction fees remain low as it is today (due to ETFs, HODL, wrapped BTC, etc) the chain could ge
36.
by kinakomochidayo 2y ago
https://en.bitcoin.it/wiki/Value_overflow_incident Other transactions besides the one that created 184 billion BTC in that block was effectively “rolled back” on the working chain.
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by kinakomochidayo 2y ago
it was actually up to the node operators to update their clients or not, which resulted in a contentious chain split. just like Bitcoin. decentralization worked as intended.
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by kinakomochidayo 2y ago
let’s not forget that Satoshi rolled back Bitcoin in 2010, whereas Ethereum was a surgical state change within a smart contract
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by kinakomochidayo 2y ago
I remember Dr Gabor Mate mentioning how ADHD is from childhood traumas and upbringing and it resonates with me. For me, it was a combination of my parents authoritarian parenting, and authoritarian school/environment, where teachers ne
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by kinakomochidayo 2y ago
Parent's point is weak - it's not possible right now for people around the world to hold fiat/stocks in their own centralized, custodial wallets due to stringent KYC/AML, and blockchains currently fill that need for stab
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by kinakomochidayo 2y ago
I didn't say that mining would cease - it's that there would be way less incentive for people to mine, so less hash power, and more susceptible to 51% attacks.
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by kinakomochidayo 2y ago
There were only few others mining, so they mined many blocks for themselves through information asymmetry. Would’ve been different if there were way more miners from the beginning
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by kinakomochidayo 2y ago
There might’ve been only 2-4 others mining so yeah, they mined for themselves through information asymmetry
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by kinakomochidayo 2y ago
Satoshi ninja-mined in the beginning for themselves. If they had posted about Bitcoin further in advance and had many more people mining, that would’ve been different.
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by kinakomochidayo 2y ago
If it’s truly digital gold, that will only lead to the demise of the chain as a result of block rewards going down and not enough transaction fees to support the miners. Bitcoin truly has a security budget issue.
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by kinakomochidayo 2y ago
There’s also ASIC manufacturing monopoly
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by kinakomochidayo 2y ago
Then that means stablecoins aren’t needed. And yet, reality disagrees with your logic and stablecoins are on track to be used even more. Tokenization on Ethereum will end up being way more important and useful than pet rock Bitcoin.
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by kinakomochidayo 2y ago
Bitcoin will need to add tail emission due to the security budget issues as block rewards go down and there isn’t enough transaction fees to support miners
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by kinakomochidayo 2y ago
Why would anybody own an asset with unresolved security budget issues?
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by kinakomochidayo 2y ago
That’s unless they’re building on an Ethereum rollup, similar to what Sony and Coinbase are doing
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by kinakomochidayo 2y ago
Why are you using mainnet Ethereum? People are on L2s like Arbitrum, Base, etc. Less than $0.001 for gas fees
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by kinakomochidayo 2y ago
Lightning Network will never get widespread adoption because the UX is horrible.
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by kinakomochidayo 2y ago
should just use USDC on Base instead - no high transaction fees like with Bitcoin, no crappy UX with Lightning, cheap transactions, free bridging, and no conversion fees for USDC -> USD unlike BTC -> USD.
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by kinakomochidayo 2y ago
I don't think anybody would enjoy the UX with Lightning where payments regularly fail. And if you're asking them to use custodial services, that just introduces additional risk. Not to mention the fluctuation in value of BTC. Bett
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by kinakomochidayo 2y ago
Probably depends on your objective. Mushrooms are much gentler and forgiving than LSD when it comes to traumas.
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by kinakomochidayo 2y ago
I’ve always thought that it’s a difference between intuitives (abstract, and possibilties) vs sensors (concrete, and what is/was)
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by kinakomochidayo 2y ago
It’s probably important to differentiate NN-DMT and 5-MEO-DMT. I’ve heard that 5-MEO is much more intense than NN-DMT. I’m assuming that you’re talking about NN-DMT. It can definitely shake up the foundations of your world view, especially
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by kinakomochidayo 2y ago
Was the 5-MEO from the plants or toad? I heard that the toad one is much lighter than the plant one
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by kinakomochidayo 2y ago
I never imagined being able to vomit without the nausea, so that’s pretty interesting hah
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by kinakomochidayo 2y ago
I think it’d be counterproductive to stop the nausea, when nausea is an integral part of the Ayahuasca process of letting go, in addition to crying, yawning, sweating, etc. I just listen to my body and let it do its thing; sometimes I need

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