rawtxapp

9 ms·

31.
by rawtxapp 5y ago
You can evaluate Bitcoin by how many users it has, how many transactions it facilitates, what kind of new concepts it enables, the usefulness of un-censorability, how many countries are adopting it (or likely to adopt it), etc. If you'
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by rawtxapp 5y ago
I mean people buy USD through forex markets all the time, the same way that people buy Bitcoin through crypto exchanges. Also, it won't become reserve currency overnight, it's a gradual process and until it happens it acts as a st
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by rawtxapp 5y ago
That's one way of looking at it, but most stocks don't pay dividends, so that "equity" is also not that tangible either, unless you're like a majority shareholder that you can change company direction. When you buy
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by rawtxapp 5y ago
If this was 2013, I would agree with you, because the risk of it being worth nothing was much larger, but today the Bitcoin blockchain moves thousands of bitcoin per day (worth billions of dollars in value) and it's network effects are
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by rawtxapp 5y ago
> most of them revolve around money laundering, drug trades, and ransomware. You need a citation for that, because according to experts “In 2020, the illicit share of all cryptocurrency activity fell to just 0.34%,” reported Chainalysis
36.
by rawtxapp 5y ago
Are you implying that no rational person should ever buy Bitcoin? That seems a bit far-fetched, no? At this point, considering that it's stronger than ever and it's pretty clear it's not going away, I would expect a rational
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by rawtxapp 5y ago
If you have assets and debt (and a job that will actually pay well, keep up with inflation), money printing is awesome for you! If you're in the majority of people who don't have those things, life just gets harder and wealth gap
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by rawtxapp 5y ago
Exactly the same as dot-com bubble where bs companies with just a domain name were the hot thing, if you just looked at that and wrote off tech, you would have made the wrong decision. Being on HN probably means you're technical enough
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by rawtxapp 5y ago
What gives a chain value is the network effects which are notoriously hard to establish. So yes, you can fork it, but can you get people to actually use it? Really doubt it.
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by rawtxapp 5y ago
Except that investing in Bitcoin has shown the exact opposite of high probability of failure, yet people still claim speculation.
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by rawtxapp 5y ago
Then I can say that I've done my research and I think it's reasonable that USD won't remain global reserve currency forever and that it's replacement won't be a governmental currency, but a decentralized one and Bit
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by rawtxapp 5y ago
Once you accept that the future is unknown, you'll see that every asset is a speculative asset, no? For the longest time, real estate was assumed to be 100% safe until 2008, etc.
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by rawtxapp 5y ago
Propaganda? Does it matter where they learned it as long as it's true and factual?
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by rawtxapp 5y ago
You fail to see people who lost trust in their governments and organizations? You don't see how people are unhappy with getting their savings diluted by unlimited money printing?
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by rawtxapp 5y ago
Then you would expect people in the EU to not be interested in crypto, yet it's the opposite. You can pull up search volume for "Bitcoin" across the world (using Google Trends), many European nations are at the top. As a matt
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by rawtxapp 5y ago
It also seems to support hardware wallets.
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by rawtxapp 5y ago
One of the most important thing people overlook is network effects. By being around longer those chains have built those networks, so even if you have something better, it'll have a huge uphill battle for adoption. For same reasons tha
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by rawtxapp 5y ago
> That's because bitcoin is so centralized these days Citation badly needed. For taproot to rollout, you need wallet providers, exchanges, nodes and miners to agree. There are hundreds/thousands of different participants in eac
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by rawtxapp 5y ago
One of the most interesting things in this experiment was the speedy trial imo. We now have an agreed way to change/improve consensus rules. It's very difficult to get a handful of people to agree on something, let alone all the d
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by rawtxapp 5y ago
It's truly amazing, almost felt magical the first few autocomplete results I got. There's the benefits that a lot of people mentioned, but to me the biggest benefit is I can avoid procrastination. Usually when I'm blocked on
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by rawtxapp 5y ago
Pets.com started in 1998 and was gone by 2000, it's more like the ICOs of 2017. Bitcoin has been alive for almost 12 years now and is stronger than ever before. I'm not sure that's a fair comparison.
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by rawtxapp 5y ago
> There is no missing out though. If you were aware of Bitcoin when it was worth a couple hundreds of dollars and you wrote it off as a fad or whatever and turns out you were completely wrong about it, you would definitely feel like you
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by rawtxapp 5y ago
The same things that normal financial systems enable you, but without a central authority. It's trustless, permissionless, completely transparent, uncensorable, borderless open financial system. If you think that all of that is just pu
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by rawtxapp 5y ago
> I fail to see how the public-permissionless paradigm will ever work But it is working! Bitcoin has hundreds of thousands of transactions per day on the main chain alone where it settles 2B+$ in value, eth has tons of really useful de
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by rawtxapp 5y ago
According to chainanalysis, about 0.34% of crypto transfers in 2020 were for crime if that's what you mean by illegitimate [1]. 1: https://blog.chainalysis.com/reports/2021-crypto-crime-repor...
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by rawtxapp 5y ago
> in a liquidation That would be like a worst case scenario though, right? Which would in turn make those shares worth a lot less to begin with.
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by rawtxapp 5y ago
Especially when you consider that a large percentage of stocks don't pay dividends, so you're only holding it because you think the company will do better which may or may not translate into increased share value.
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by rawtxapp 5y ago
You can do a quick search to have the answers to all these simple questions, it has about ~200k transactions per day which settles about ~2B$ worth of Bitcoin a day (which is up very significantly since last year and down quite a bit from f
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by rawtxapp 5y ago
Maker is pretty useful for getting collateralized loans, compound is pretty useful for generating yield by lending to others, uniswap is freaking amazing as a dex and you can trade anything by creating liquidity pools without permission, aa
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by rawtxapp 5y ago
DYOR (Do Your Own Research), don't fomo into coins just because they are pumping in price. Read through their code (or how many contributors, how much contributions it gets, etc) which is something that you can't do with current f

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