npoc

22 ms·

241.
by npoc 2y ago
Using energy doesn't contaminate the atmosphere - generating energy by dirty processes does. Energy usage correlates tightly with level of civilization a population has. Perhaps you mean that it wastes energy? Anything can be seen as
242.
by npoc 2y ago
Most people use it as a savings tool, like gold. You wouldn't use the bitcoin network for crime - it's not even anonymous, there are far better options.
243.
by npoc 2y ago
Would you say the same for gold? It uses more energy.
244.
by npoc 2y ago
Yes, that's my point. Any extra gains in value that early adopters received was offset by the greater risk they took. If anything risk/reward ratio is a better proposition than it was then - we have 15 years of solid operation, na
245.
by npoc 2y ago
You're not taking into account that the work was far riskier in the past - a much higher risk of it being wasted. It also required much scarcer knowledge in order to understand the value of bitcoin. You buy bitcoin at the price you des
246.
by npoc 2y ago
Money is proof of work. Work is energy. Money is proof of energy. Money is bitcoin. Where am I wrong?
247.
by npoc 2y ago
Absolutely correct regarding cRypTo. But there's also bitcoin, which people wrongly group with it. They are two completely different things, once you dig a bit deeper. One is going to improve the world immeasurably - in fact one of man
248.
by npoc 2y ago
Proof of work isn't a flaw. In fact it's a fundamental part of monetary value, just as it is for gold and in fact anything else of honest value i.e. not valuable simply due to artificially-limited centrally-controlled issuance tha
249.
by npoc 2y ago
1) Transaction fees are extremely low. I can currently store $1M for 100 years protected from supply inflation and counter party risk for a fee of around 0.0002%. 2) Do you mean "replace-by-fee"? That only affects unconfirmed tran
250.
by npoc 2y ago
What flaws are those?
251.
by npoc 2y ago
Everybody thinks they know bitcoin's fatal flaw when they first learn about bitcoin. It's easy to do that. The hard bit is continuing to learn until you can't see any flaws.
252.
by npoc 2y ago
even then it would only pause.
253.
by npoc 2y ago
It's the hardest asset mankind has ever seen. Nothing else is as optimised for storing large quantities of value for long periods of time. If you have an idea for how it could be optimised further or beaten by something else, I'd
254.
by npoc 2y ago
In 2024, I don't use crYpTo, but I use bitcoin to store my wealth without it being stolen by the banking system via supply inflation.
255.
by npoc 2y ago
> because people aren't actually using crypto, they're just hodling and hoping $$$ go up. This is such a common mistake. By HODLing, you are using it - to store your wealth. This is what the bitcoin network is optimised for - s
256.
by npoc 2y ago
Lack of IQ is one thing, but combined with bad character leaves the perfect candidate for fiat cuck bucks. Have a good day.
257.
by npoc 2y ago
Imagine holding 50000 BTC and selling them just months after the halving... Books will be written about this in the future. What is happening to Germany?
258.
by npoc 2y ago
Yes and no. The rules governing bitcoin are chosen by a very large number of human beings, with a lot of commitment (not just a vote, but with substantial amounts of their money). The rules make bitcoin very close to ideally hard money, bet
259.
by npoc 2y ago
Liquidity for every traded commodity is always on the exchanges - that's why exchanges exist - to provide liquidity. I think you might be trying to say that most bitcoin is custodied on exchanges, and doesn't change hands via the
260.
by npoc 2y ago
Which secondary markets do you mean? There's plenty of liquidity on the big exchanges' spot markets, for example there's around $1B worth of bitcoin exchanged daily for USD on Coinbase alone, 24/7. Investors in bitcoin a
261.
by npoc 2y ago
Money is simply a container for a form of monetary energy that follows the same conservation of energy laws as physical energy. And so monetary energy can't be created or destroyed but instead it flows from one system (dollars, bitcoin
262.
by npoc 2y ago
It's not a currency, yet. It's a highly liquid, highly divisible ideally-hard asset. By 2140 it will be the hardest asset theoretically possible with absolutely 0 issuance regardless of mining effort.
263.
by npoc 2y ago
Would you describe the energy used to mine gold as wasted? Would it be better if it took less energy to mine gold? What if a small select group of people were able to mine gold without using any energy? Would that be preferable?
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by npoc 2y ago
Sorry, I got your comment completely backwards
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by npoc 2y ago
Just because it's newer doesn't make it better. There are good reasons for avoiding iostream
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by npoc 2y ago
Isn't bitcoin at all-time highs? In what way has it died?
267.
by npoc 2y ago
I'm astounded by your use of bitcoin in the past tense. It's only just beginning - it hasn't even reached the market cap of gold yet.
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by npoc 2y ago
It will be almost impossible to not outbid bitcoin miners for electricity due to the fact that mining is a non-geographically constrained free market where miners are not profitable unless their electricity cost is very close to zero (i.e
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by npoc 2y ago
Bitcoin keeps going down? Is your monitor upside-down?
270.
by npoc 2y ago
Why sell the hardest money we've ever seen when you can sell fiat? See Gresham's and Thier's laws. From another angle, money has to become a mature, proven store of value before it can become a unit of account, and only then

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