rawtxapp

25 ms·

241.
by rawtxapp 5y ago
I (and I think many others in crypto) have always assumed that any money/crypto transactions at any exchanges in the US is reported to the government or will be reported sooner or later. So not that big of a news imo.
242.
by rawtxapp 5y ago
Shouldn't that be reason enough to get rid of it for something that's not trying to become worthless and rob you of your purchasing power? It's pushing endless/pointless consumerism. People will spend money on things the
243.
by rawtxapp 5y ago
Whether I answer this question correctly or not will have significant financial consequences for me, so I'm trying to be as fair and balanced as possible.
244.
by rawtxapp 5y ago
The way I look at it, the whole point of the exercise is that nobody (no governments, no corporation, no billionaire with a twitter account) can affect the network itself. If Bitcoin can't deliver on that promise, it doesn't deser
245.
by rawtxapp 5y ago
What happens between the day of creation (when it's worth 0 ) and the day Bitcoin becomes global reserve currency (worth multiple trillions of dollars)? It acts as a highly appreciating asset with a great upside. Also, I agree with yo
246.
by rawtxapp 5y ago
How do they cover those costs? By selling it on the market. As a PoS staker, all I have to do is provide a cryptographic signature and I have zero pressure to sell the coins I receive on exchanges.
247.
by rawtxapp 5y ago
For sure, it's very risky, highly volatile and nobody should put more money than they are willing to lose. But if you don't trust your gov/central bankers then crypto is one(only?) way to opt out.
248.
by rawtxapp 5y ago
Let's look at it from the perspective of "I'm going to put my life savings into this thing" and hold on to it for at least 10+ years. Do I put it into Bitcoin which is simple, secure, battle tested, moves slowly but with
249.
by rawtxapp 5y ago
This is personal opinion and feel free to disagree, but I have zero trust in the government and I don't think central bankers and politicians in Washington care about me. I think the current financial system is highly corrupt, broken a
250.
by rawtxapp 5y ago
It already has done that many times over (20k->3k back in 2017). And people who would have kept buying would be in a great place right now.
251.
by rawtxapp 5y ago
Their average buying price is in the ~20-30k range, still lots of way to go. And if they have losses on their coins, they can harvest them to offset their other incomes, etc.
252.
by rawtxapp 5y ago
~300% return YoY is bad now? Just put a small % of your portfolio and if it fails, not a big loss, but if it increases at those rates, it'll naturally end up becoming a large % of your portfolio.
253.
by rawtxapp 5y ago
The fees, on a good day, you can pay somewhere around 50-100gwei for a transaction on eth, right now we are seeing 1500+gwei transactions. For example, to deposit into a maker vault, a 50 gwei transaction would cost somewhere around 100$, i
254.
by rawtxapp 5y ago
2017 and 2013 also looked like bubbles exploding, yet here we are.
255.
by rawtxapp 5y ago
Pretty much everything is down, eth decentralized exchanges are all clogged up too due to sky high gas fees. It's like a bank run.
256.
by rawtxapp 5y ago
Even though I'm very bullish on crypto longterm and even though this crash caused me large loses on paper, I'm happy about it. I think a lot of people got very greedy and way overleveraged themselves which is not sustainable in th
257.
by rawtxapp 5y ago
Just like the last cycle when they flip flopped on banning it every other week.
258.
by rawtxapp 5y ago
Satoshi is not actively working to move Bitcoin to PoS though. And for all practical purposes, his stash is as good as gone.
259.
by rawtxapp 5y ago
If the community forks to void an attacker's coins, that creates a very bad precedent. It already happened with the dao hack (which was pretty bad to begin with), but if it keeps happening, why would you trust that blockchain.
260.
by rawtxapp 5y ago
It's not just about that limit though and it's not even a complaint to be clear. If eth pays me 5-10% per year for a simple cryptographic signature, great, not gonna say no. But it inherently makes the system unfair, I have 0 pres
261.
by rawtxapp 5y ago
Yep, it literally codefies "rich gets richer" down to the core of the protocol.
262.
by rawtxapp 5y ago
> that energy can be used for something productive A decentralized/borderless/censorship-resistant/virtual currency is one of the most productive things we can use energy for. It might not be as apparent in the US or the d
263.
by rawtxapp 5y ago
A single transaction on the blockchain most likely corresponds to thousands if not millions of transactions in another layer. Unless you buy straight from a miner, the Bitcoin you buy changed hands many times before reaching you and those t
264.
by rawtxapp 5y ago
I think the way to look at is that, smart contracts are not behind the contracts/agreements, smart contracts are the contracts/agreements. Once you realize that, if a smart contract executed successfully then the operation was
265.
by rawtxapp 5y ago
Yes, due to the 2nd layer solutions it's going to bring along. You have the same idea in Bitcoin called lightning network (with growing adoption: 1ml.com).
266.
by rawtxapp 5y ago
While you need to be rich to be able to mine Bitcoin, you also have to dump those mined coins on the exchanges to cover your running costs (electricity, hardware, server operators, etc).
267.
by rawtxapp 5y ago
It literally codefies "the rich gets richer" deep into the protocol. While I'm pro-eth, this makes it a lot less "fair" in my opinion. With PoW, miners can't really hold on to the coins for very long, so they h
268.
by rawtxapp 5y ago
Isn't that a bit defeatist? It's like admitting that people will find ways around it. It'll only work in the first year when it's introduced.
269.
by rawtxapp 5y ago
To be used as a currency for the virtual borderless world, it needs to be worth at least a few trillion dollars, anything less than that would be too small to power any sizeable economy (especially one that's borderless and worldwide).
270.
by rawtxapp 5y ago
I don't know why people keep bringing this up every time, tulip mania lasted from 1634 to 1637 (just 3 years), Bitcoin has been in existence since 2009 and it's pretty clear it's here to stay now. Bitcoin's goal is to of

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