rawtxapp

50 ms·

511.
by rawtxapp 6y ago
One limitation of Bitcoin script is that it's not turing complete. But there are sidechains like rsk with defi apps like sovryn that bring smart contracts and defi to BTC.
512.
by rawtxapp 6y ago
You can still tip a miner if you want to. Only thing burned is the "base fee".
513.
by rawtxapp 6y ago
I think you're confusing deflationary with depreciation. Deflationary currency means over time, there's less of it, so if the demand stays stable, you'd expect the price to go up.
514.
by rawtxapp 6y ago
As someone who uses both BTC and ETH and who likes both, this is one of the reason why people prefer Bitcoin over Ethereum. The reality is that the energy used to secure the Bitcoin blockchain (or the energy "wasted" according to
515.
by rawtxapp 6y ago
The thing is either Bitcoin is successful which means the value settled on it's blockchain will be very substantial, so the electricity used to secure that value will be worth it. Or it fails as many on HN predict in which case you hav
516.
Analyzing Bitcoin’s Network Effect(lynalden.com)
1 points by rawtxapp 6y ago|0 comments
517.
by rawtxapp 6y ago
> How does the size not balloon out of control? It does, which is why they are looking into scaling solutions (sharding, layer 2 solutions, etc).
518.
by rawtxapp 6y ago
That just means you didn't research it properly, if you had and stepped back, you'd know that layer 2 technologies are solving majority of your concerns around speed and fees and that the world will inevitably move to green energi
519.
by rawtxapp 6y ago
In our current capitalist economy, most people spend majority of their life just working and saving for their retirements.
520.
by rawtxapp 6y ago
You can look at the blockchain directly to see who holds what for how long. I doubt anybody who bought a significant amount early on would ever reveal themselves publicly.
521.
by rawtxapp 6y ago
Now they are gonna miss the 50k->1M, so need to stop it at all costs.
522.
by rawtxapp 6y ago
Such as?
523.
by rawtxapp 6y ago
Why, can you elaborate?
524.
by rawtxapp 6y ago
Maybe there's some overlap between HN anti-crypto crowd and those who remember Bill Gates track record at MSFT (ex: IE antitrust, anti-Linux).
525.
by rawtxapp 6y ago
They will probably look at it like we look at: https://news.ycombinator.com/item?id=599852
526.
by rawtxapp 6y ago
What would be the reason for imprisoning someone who holds Bitcoin? Don't we live in a free society? And even if they imprison you they won't be able to access your money: https://amp.scmp.com/news/world/
527.
by rawtxapp 6y ago
Bitcoin is anything but HN's favorite toy.
528.
by rawtxapp 6y ago
A significant % of Bitcoin hasn't moved in years, people seem to be using it as a store of value. Crime usage is magnitude smaller than traditional currencies (source Citi's Bitcoin on the tipping point report).
529.
by rawtxapp 6y ago
And his private jets, etc.
530.
by rawtxapp 6y ago
Except credit card transaction isn't settlement, it's a temporary transfer until it settles, more akin to lightning network. Lightning network barely uses any energy fwiw.
531.
by rawtxapp 6y ago
Central banks will never truly produce a blockchain based crypto, they won't be able to control it and they will also never make it gold backed, they can't control it.
532.
by rawtxapp 6y ago
Until EIP 1559 goes into effect in July, then it might vary between deflationary and inflationary at times.
533.
Senate passes $1.9T Covid relief bill(cnbc.com)
1 points by rawtxapp 6y ago|0 comments
534.
by rawtxapp 6y ago
I think you fell for satire. Another one of their articles: https://www.theolognion.com/programmer-invents-non-moving-ca... Pretty good satire too I must say.
535.
by rawtxapp 6y ago
> The idea that an asset needs _no_ intrinsic value in order to be valuable, or that the intrinsic value may have been defined a long time ago and is now irrelevant to its current value just doesn't compute to me. If you want to, yo
536.
by rawtxapp 6y ago
Many people believe it to be the future global reserve currency. Whether you agree with that or not, there's a non-zero probability of that becoming true. And the scarcity means that a central entity can't dilute your holdings as
537.
by rawtxapp 6y ago
> but it feels like the majority of the stuff is just... sitting there... It gives you the ability to actually save your money for a future use. If you need liquidity, you can borrow against it to spend money in other endavors. Nobody wa
538.
by rawtxapp 6y ago
The market depth could handle couple million dollars without changing the price too much, but if you want to buy/sell large amounts, you'd go to OTC.
539.
by rawtxapp 6y ago
These all had and continue to have enormous amount of users. I'm not sure how you can argue that these all got their valuations based on hype alone.
540.
by rawtxapp 6y ago
Except for the fact that Bitcoin's current 24hr trading volume is in the billions.

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