natrius

73 ms·

661.
by natrius 13y ago
"No, it doesn't make any sense, because you'd have to pay 3x as much to replace that Bitcoin." No I wouldn't. I walk up to the merchant. "Oh, you'll accept my $20 payment in Bitcoin? Ok, I'll pay wi
662.
by natrius 13y ago
In a world where Bitcoin has already been adopted by the masses, holding Bitcoin would make almost as little sense as holding dollars does today. Sure, its value will go up, but not as much as investing money in companies that make more mon
663.
by natrius 13y ago
Dollars and Bitcoin are easily interchangeable, so the concept of spending dollars first doesn't make sense to me. The amount of Bitcoin someone holds is based on their belief in Bitcoin's future success, their wealth, their spend
664.
by natrius 13y ago
I don't understand why you think people won't trade Bitcoin for goods and services. I use Bitcoin at every vendor that accepts it, especially if there's a discount involved. It costs me 1% to replace the Bitcoin since my payc
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by natrius 13y ago
Isn't Bitcoin's success as a currency orthogonal from the negative effects it might have on the economy? If individuals think holding Bitcoin is better for them than holding dollars, they will do it as long as it's legal. As
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by natrius 13y ago
In a world with competing currencies, people will choose currencies they can understand. A dynamic currency fails this test.
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by natrius 13y ago
Low, steady inflation is better for an economy than the alternatives humanity has experienced thus far. However, if people had the choice between holding a currency they expected to slowly decrease in value like today's central bank cu
668.
by natrius 13y ago
To elaborate, a merchant can easily monitor (or pay someone to monitor) transactions being sent to miners in real time. The probability of a successful double spend decreases drastically as the time since the first spend increases. If someo
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by natrius 13y ago
Doctors and lawyers use the legal system to limit the number of people they compete with. I will not model my profession on those.
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by natrius 13y ago
I don't think that comparison would be illustrative. I suspect that trends in tech wages in the Bay Area are divorced from those in other fields in the same way that finance wages in New York are. The productivity of a single programme
671.
by natrius 13y ago
Bitcoin is a payment network and a currency. Retailers have not embraced Bitcoin the currency, but they have embraced Bitcoin the payment network. I think that still bodes well for Bitcoin the currency, but who cares? At the very least, we&
672.
by natrius 13y ago
I don't see tons of edge cases. Any current logic tied to your existing payment processor must be reimplemented to handle another one as well, in this case, Coinbase. Internally, everything is dollars. Coinbase handles Bitcoin for you.
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by natrius 13y ago
"Additionally this requires us changing our accounting systems and wading into new tax complexities." That's only because you're setting prices in BTC instead of USD, right? I always thought accepting BTC through Coinb
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by natrius 13y ago
It's not really ridicule. If you do a Kickstarter-style fundraiser to accept Bitcoin instead of just accepting it, it's a pure PR move. Not that there's anything wrong with that.
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by natrius 13y ago
Bitcoin is the first practical solution to a longstanding problem in computer science called the "How do I get cheap PR for my company" problem.
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by natrius 13y ago
"[North Korea] has no Internet." One of the most entertaining mindfucks (and there were many) on my trip to North Korea was being shown a "classroom" at Kim Il Sung University with a poster explaining IP and DNS, as if
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by natrius 13y ago
Sounds good to me.
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by natrius 13y ago
Django's signals API is synchronous, but writing a wrapper to process signals as asynchronous tasks is relatively straightforward. https://github.com/nyergler/async-signals
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by natrius 13y ago
Raise prices for dollar purchases and discount Bitcoin purchases. After three weeks of that, 90% of customers will be paying with Bitcoin.
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by natrius 13y ago
Coinbase allows retailers to specify how much Bitcoin to hold from purchases instead of converting to dollars. As more merchant expenses can be paid with Bitcoin, merchants will begin to hold larger amounts to avoid the 1% hit. As a result,
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by natrius 13y ago
Last night, I bought food from a truck in Austin that discounts Bitcoin purchases by 15%. I have both dollars and Bitcoin, but there are many scenarios in which I'd rather spend Bitcoin.
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by natrius 13y ago
I'm guessing that Coinbase monitors the Bitcoin network to detect double spends. A malicious double spender has to broadcast the second transaction very soon after the first. If you're processing Bitcoin transactions, you can just
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by natrius 13y ago
Except there are many statutes that give the dollar special tax treatment.
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by natrius 13y ago
There are going to be a lot of appropriately downvoted Bitcoin comments, but consider what effects the true believers being correct might have on traditionally safe investments, like bonds.
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by natrius 13y ago
I do use standard Mercurial branches, and I vastly prefer Git's model. I ask because there might be a better way to use them that I've overlooked.
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by natrius 13y ago
I have. I'm wondering if they use bookmarks or named branches, and what strategies they've arrived at to work with either.
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by natrius 13y ago
Branches are my biggest pain point in Mercurial. What branching workflow does Facebook use?
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by natrius 13y ago
Pretty much every coffee shop and at least half of the restaurants I walk into offer wifi, so I think the problem is smaller than you claim.
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by natrius 13y ago
The first week or two of weight loss is indeed mostly water, but I weight 40 pounds less than when I started avoiding carbs. It works for me.
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Head Fake: Why a government would create Bitcoin [fiction](niran.org)
4 points by natrius 13y ago|0 comments

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