lowkey

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451.
by lowkey 5y ago
I would challenge that Bitcoin + Lightning + Stablecoins are well on their way to fulfilling the promise. All three of Bitcoin / Lightning / Stablecoins offer “Decentralized trustable currencies” as well as a unique type of immuta
452.
by lowkey 5y ago
> I don't think traditional economic models think of 2% inflation in terms of "40% of the value being lost over a career." Well maybe they should? I mean it is a real measurable cumulative effect of 2% inflation compounded
453.
by lowkey 5y ago
That is because rational people know that the scam that is the fractional reserve banking system with it’s artificially low interest rates, is the direct reason why workers have no option to save their money in the bank while coming out ahe
454.
by lowkey 5y ago
Under a fiat system those workers were forced to put their hard earned life savings into the stock market or real estate in order to escape the ravages of inflation. Despite all the talk about the time value of money in finance, under a fia
455.
by lowkey 5y ago
I mean, it’s a $1 Trillion dollar market so it would take considerable horsepower to meaningfully move the Bitcoin market today. It will get harder and harder over time. Like I said, a large central exchange could conceivably wash trade to
456.
by lowkey 5y ago
It seems as though you are asking why anyone would want to delay immediate consumption in favor of saving for the future. Think of all the major expenses we take on on life healthcare, higher education, housing, retirement. These all genera
457.
by lowkey 5y ago
Exactly who do I vote for to end the inflationary, easy money, Zero interest rate policy of the Federal Reserve. You may have been taught in school that the United States is a democracy but I am afraid that does not apply to the Federal Res
458.
by lowkey 5y ago
> "lack of Gold Standard is the real reason workers are poor" I would argue that it is less about the lack of a gold standard and more about the lack of a hard money standard that cannot be debased by centralized powers such as
459.
by lowkey 5y ago
Let's compare it with the baseline alternative, the fiat currency called the US dollar - Call it $1USD, no vote. With USD, the long-run target inflation rate as stated by the Federal Reserve is 2% per year. Seems small, some would argu
460.
by lowkey 5y ago
Point 1) I don't believe you are describing Bitcoin, maybe altcoins, NFTs, DAOs but not Bitcoin. - wash trading: tell me who, how, and why is doing wash trading on Bitcoin? I would argue the only entities capable of moving markets with
461.
by lowkey 5y ago
If and when sha256 is broken, the internet breaks, period. It will be a Y2K-like event across the world. Every single banking website would be vulnerable. The Bitcoin core devs have been thinking about the failure modes of hash algorithms s
462.
by lowkey 5y ago
That's your opinion based on your disapproval of Bitcoin. Care to share why you are negative on Bitcoin? I believe most people confuse Bitcoin as an alternate means of payment instead of what it really is which is an honest sound digit
463.
by lowkey 5y ago
100% of it is exchanging value. Less than 100% is for payments for goods or services. I think it is arbitrary and capricious to declare that the store of value use case and/or increasing the value of your investment use case are not va
464.
by lowkey 5y ago
To be clear, the problem Bitcoin was designed to solve was not improving transaction throughput at scale. The problem Bitcoin aims to solve is all the trust involved in the fiat system we currently call money. The current system requires us
465.
by lowkey 5y ago
Tell me you don't understand the fundamental blockchain tradeoff between scalability, decentralization, and security, without telling me you don't understand. Blockchain technology has unique advantages and constraints, like any n
466.
by lowkey 5y ago
Why is that though? Could it be that by a process of inflation and deflation of the money supply governments have historically manipulated the value of their population's savings? Could it be that the current zero interest rate policy
467.
by lowkey 5y ago
You are conveniently ignoring Lightning which currently power payments for an entire nation (El Salvador) and has plenty of capacity for more. Lightning scales fast and cheap, offering instant final settlement powered by the largest securit
468.
by lowkey 5y ago
In my opinion, if as another comment hinted there is a real need then either: a) you are unable to reach your target user or buyer b) you are unable to close a sale c) you onboarding experience or UX needs work (the little things needed to
469.
by lowkey 5y ago
Tonal <www.tonal.com> is amazing. It is the fitness system of my dreams. A resistance training setup with digital weights that hangs on the wall. It is filled with high quality content that showcases how to take full advantage of the
470.
by lowkey 5y ago
Sunlight is the best cure for corruption. By putting registry data on the blockchain and allowing anyone to independently verify state of an immutable distributed database makes it much harder to get away with the corruption.
471.
by lowkey 5y ago
I read that a 'stable' 2% inflation rate will steal 60% of the purchasing power from a wage-earner over a 40 year career.
472.
by lowkey 5y ago
So it sounds like we all agree the authorities are under-reporting inflation. Now we are only arguing how much?
473.
by lowkey 5y ago
Risking children to protect the elderly. That is a broken model, IMO.
474.
by lowkey 5y ago
> Bitcoin has existed for ten years and hasn't let anybody do anything yet .. Bitcoin created a scarce digital good, modeled after gold in many ways, that promised a sound money for the internet, digital cash, a reserve currency pow
475.
by lowkey 5y ago
This is child abuse to benefit the elderly. Exactly backwards from how it should be IMO. This vaccine does nothing to improve health outcomes for children as the virus almost always spares the young. There are a vanishingly small number of
476.
by lowkey 5y ago
Consider that many more have internet and a smartphone than a bank account. There are over 1 billion unbanked in the world, many of those have internet and smartphones. You would be surprised at the spread of smartphones amongst the world&#
477.
by lowkey 5y ago
I work on an international team and 2 of our devs are based in Nigeria. Nigeria currently suffers from 16% annual inflation and so the people have flocked to crypto as a store of value. Over 20% of the population uses cryptocurrencies. Ther
478.
by lowkey 5y ago
UST is the stablecoin pair to Luna which is the native token of the Terra network - an algorithmic stablecoin platform. It's an innovative approach to stablecoins across multiple currencies and it is growing amazingly fast. I would enc
479.
by lowkey 5y ago
Look into the Terra stablecoin network and read the whitepaper before dismissing it. The returns are very real. There is a reason that decentralized finance is the fastest growing industry in history. You may want to investigate with an ope
480.
by lowkey 5y ago
Right now the intellectually curious can earn 19.5% in DeFi on stablecoins using Anchor protocol. No, it isn't FDIC insured, but insurance is available for 2-3% netting 16~17%. Unlike banks anyone anywhere has access to this free and o

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