oleganza

56 ms·

541.
by oleganza 13y ago
Public, driven by greed, will also invest in Bitcoin sooner or later as a better "store of wealth" and eventually a more liquid currency. We see it happening in real time. Don't lie to yourself: everyone sees 10x or more incr
542.
by oleganza 13y ago
You don't need to "cooperate" on a email system in a way blockchain requires cooperation (with strict following on one protocol). People who need to transfer and store messages will pay for it. Bitcoin makes it easy and cheap
543.
by oleganza 13y ago
1. It's easier to hide even the fact that you have some Bitcoins. When you buy some Bitcoins for cash from random people on the street and keep in different wallets (or even "brain wallets"), no one would know how much do you
544.
by oleganza 13y ago
Bitcoins, like any money, is used to satisfy a reservation demand , that is, a demand for holding money for future use. "Currency" appears only when you find a closely connected group of investors in this money that find it usefu
545.
by oleganza 13y ago
Killer app for Bitcoin is Bitcoin itself. Digital gold that can't be easily confiscated, can be cheaply stored and transferred and resist a lot of censorship. It can also encode various cool contracts that are impossible to do otherwis
546.
by oleganza 13y ago
This have been solved by Bitcoin. People driven by greed are cooperating on building one blockchain. Then, they'd be happy to pay pennies for safe, secure and clean email system.
547.
by oleganza 13y ago
As usual, irony is not one of the HN's strongest properties.
548.
by oleganza 13y ago
How come he is a DNA genius if he couldn't find an anti-age solution?
549.
by oleganza 13y ago
Block size limit will be raised as soon as there's a pressure of transactions. Miners are not interested in devaluing their savings because Bitcoin is too expensive to use for newcomers. http://blog.oleganza.com/post&#x
550.
by oleganza 13y ago
Fluctuation is somehow "upwards". That's not a fluctuation, that's normal exponential growth of something with network properties. If people discover a pile of gold and start grabbing it and selling, its price would also
551.
by oleganza 13y ago
You don't need to run a power station if you don't want to. Like people are not forced to make lolcat videos for everyone's amusement. They do so voluntarily. What's the problem?
552.
by oleganza 13y ago
Ripple moves IOUs based on trust, not hard gold-like asset.
553.
by oleganza 13y ago
It's neither a flat number, nor a percentage. Fee is not hard-coded in the protocol, everyone can decide on the fee himself. Users decide how much they want to pay and miners decide how to prioritise transactions. The fee is freely flo
554.
by oleganza 13y ago
It's going to be interesting. There's inherently no technical difference between LTC and BTC (block intervals are not drastically different in practice, and nominal count of coins is meaningless). Network effect-wise, Bitcoin has
555.
by oleganza 13y ago
Miners are computing hashes for a very specific chunk of data. And it's also double SHA256 which is not used in any standard key-derivation function. Specialized mining machines implement a lot of shortcuts to optimise for that exact h
556.
Bitcoin on BTCChina is well over $750 and growing(bitcoinwisdom.com)
5 points by oleganza 13y ago|1 comments
557.
by oleganza 13y ago
Thanks for clarifying this. I haven't touched mercurial for a while.
558.
You can own Bitcoin, you can’t own your dollars(blog.oleganza.com)
1 points by oleganza 13y ago|0 comments
559.
by oleganza 13y ago
"The local revision numbers play no role here -- btw, they're just an (arbitrary) ordering of the commits in your local repository. No magic there." I disagree. Mercurial is famous for its "simple" revision numbers
560.
by oleganza 13y ago
51% attack is a myth. Do you seriously think that all BTC holders would just blindly jump to a suddenly revealed chain to allow some dud to revert 1000 BTC transaction? There would be some turbulence, no doubt, but people will quickly ban t
561.
by oleganza 13y ago
Bitcoin will never become useless because of such stupid reason. If people need smaller divisions than 1 satoshi (10^-8 of BTC), the protocol will accommodate that easily with small extension. But most probably, smaller transactions will be
562.
by oleganza 13y ago
Flipping the coin predictably 256 times in a row will require more time and space than available in the universe.
563.
by oleganza 13y ago
Correction: the only money that is being transferred by electronic means is Bitcoin. All the other payment channels do not transfer ownership, but promises . When your bank sends 100 bucks to another bank, there's no hard ownership be
564.
by oleganza 13y ago
Like being above 18 gives any guarantee :-) Bitcoins can be owned, so it's better to own them instead of storing them in someone's wallet on some website. Send you money to a shitty exchange nearby, buy bitcoins, move them into yo
565.
by oleganza 13y ago
There are enough of private investors willing to buy without crashing prices on the open exchange. Financially, it'll be a good deal for both a buyer and a seller. I heard SecondMarket's BIT (bitcoin investment trust) can't b
566.
by oleganza 13y ago
They can regulate the hell out of merchants and exchanges, if they want. (And there's a lot of restrictions already: http://www.forbes.com/sites/kashmirhill/2013/11/15/bitcoin-c... ) But I guess
567.
by oleganza 13y ago
I personally know a gold owner who dumped all his gold (accumulated over past several years) for Bitcoin in February. Bitcoin has different risks than gold, but you can 1) move it cheaply and quickly to a safer location any time 2) you can
568.
by oleganza 13y ago
They must be motivated to preserve that wealth now.
569.
by oleganza 13y ago
Only if Bitcoin fails at its promise and can't be fixed. E.g. some crypto breakthrough makes all security worth nothing. Only if P=NP, in other words.
570.
by oleganza 13y ago
1. You will never miss out. Even if you never by bitcoins and it becomes world money, you'll benefit from it indirectly (and taking no risk in the process). 2. It's never too late. The bet is that Bitcoin becomes world money. If s

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