rfd4sgmk8u

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by rfd4sgmk8u 6y ago
The bitcoin-qt client will require 6 blocks before a transaction is considered confirmed, typically 60 minutes. At currently network congestion, a high priority tx (next block) is 102 sat/vB ($6.95). A low priority tx is: 53 sat/v
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by rfd4sgmk8u 6y ago
zkrollups, like all rollup technologies just kick the can down the road. Not every transaction needs to live on a blockchain! This is the fundamental point that folks miss. LN is about true 'off-chain' in that a blockchain is not
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by rfd4sgmk8u 6y ago
Disagree. LN providers will exist, just as exchanges exist today. The most likely candidate is the payment card networks. While I dislike this future, they probably offer the best solution for consumers interacting with layer 2, and its alw
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by rfd4sgmk8u 6y ago
You literally can with payment cards do this today. The largest cryptocurrency exchange released a visa card where you can 'spend crypto'. I hate it when starbucks doesn't take my Krugerrands. What if cryptocurrencies can buy
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by rfd4sgmk8u 6y ago
I'm sorry dude, you really don't understand how this works. It isn't about finding a greater fool willing to pay $1k more than you did. The reality is there are plenty of people that will keep buying. There is no 'run ou
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by rfd4sgmk8u 6y ago
That was more at point for fixed emission currencies like BTC vs fiat USD but running with your interpretation: * bank could start charging negative interest rates * tether could start providing interest yield to holders * banks could start
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by rfd4sgmk8u 6y ago
I wanted to follow up and say: a) you can buy part of a coin, it scales to 8 decimal places! You don't need to buy a whole coin. b) it is money already, there is no need to 'sell' c) profit and and loss by definition gets a l
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by rfd4sgmk8u 6y ago
The most beautiful thing about bitcoin is it needs no government or military, it just is. Math > Militaries. Value of money is tied to its supply. What happened in 2020? https://fred.stlouisfed.org/series/M2
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by rfd4sgmk8u 6y ago
Why do you assume nobody wants it? It works fine. Some people use it every day. It is new and unproven over time. People were saying bitcoin was a nonsense idea no one wants at one time too. I acknowledge you don't like bitcoin, but as
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by rfd4sgmk8u 6y ago
Ahh, I feel that you don't believe bitcoin is money. You don't need to 'sell' it for fiat. What matters is the purchasing parity power. It is money already. I do not agree that it is a zero-sum game. This assumes that it
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by rfd4sgmk8u 6y ago
From 3rd Jan 2009 until today, "Many often lose everything" is not true. All holdings are in the money. We don't know of the future. BTC is no more a ponzi than any asset class. Take a look at https://assetdash.co
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by rfd4sgmk8u 6y ago
I prefer to think of it as "depreciating fiat currency worth less every year", but sure. FDIC insurance is 250k per account, in the US. Only 323M/7.6B can take advantage of this. Don't forget the USDT liquidity in the de
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by rfd4sgmk8u 6y ago
ledgerx.com is a US based futures and options market. Short bitcoin at your peril :-)
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by rfd4sgmk8u 6y ago
Let me tell you about the swiss franc. It held a government peg 1.20 to the EUR, until one day in 2015 it didn't. Many traders (and whole forex brokerages) who held positions, believing the 1.2 line could never be crossed were, as they
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by rfd4sgmk8u 6y ago
Starts with: "The lawless rollercoaster of bitcoin enriches few investors, while many often lose everything." Not true, It is another ATH day for BTC, so literally anyone that bought BTC in the past and held is in the money. &quot
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by rfd4sgmk8u 6y ago
From my perspective, the main objection you have toward this is that you do not find value in what this is. I assure you that I, and many others do. Are we all wrong? Are practical (in that they exist and work, today) solutions that solve o
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by rfd4sgmk8u 6y ago
Pretty hard to get your gold back in case of fraud too, especially if they have guns. This is a feature, not a bug. If you want chargebacks, use fiat credit cards. You can do special bitcoin tx's that allow escrow and return of funds,
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by rfd4sgmk8u 6y ago
One man's waste is another man's treasure. Ultimately it is a black hole, the black hole that sucks all value from other monetary systems. It provides immutability, permanence and durability like no other data structure that has c
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by rfd4sgmk8u 6y ago
All technology behaves this way! It generates a significant quantity of non-reusable electronics waste, from that 10 year old laptop to that 3 year old cell phone. Its ALWAYS a Red Queens race. This is good actually, because our lives are e
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by rfd4sgmk8u 6y ago
Same old misinformed opinions 'ma energy', while feigning some kind of environmentally superiority. We have to get off Planet Earth! We need to reach Kardashev Type I before we start talking waste. The energy usage argument is a n
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by rfd4sgmk8u 6y ago
Gox or Mark didn't steal any money from you, you lost the money you had left in the casino. While it might be true the casino lost it, it was no longer yours the moment you transferred it out of your own wallet. I'm sorry for your
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by rfd4sgmk8u 6y ago
Please assume good faith. I do not believe there is a image rehabilitation campaign, nor are nefarious forces trying to sway public opinion late Friday night. Don't waste too many brain cycles chasing ghosts. We all are just people try
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by rfd4sgmk8u 6y ago
As a counterpoint, I would like to thank you Mark for what you built, and the movement you started. You did change my life and the lives of many others, enabling us to build the future. Lessons were learned by many. NYKNYC. We cannot change
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by rfd4sgmk8u 6y ago
It's not this simple, and security isn't about an individuals choice. It is about ecosystem security. The platform is considered secure because folks can't (easily) install malware from sketchy app stores. With an iphone tal
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by rfd4sgmk8u 6y ago
To continue the abstract car analogy, what if this car that used 10,000x the energy per mile also had some magic properties -- like that anyone could build the car themselves from the blueprints, it could magically teleport anywhere on eart
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by rfd4sgmk8u 6y ago
Saying that BTC provides nothing other than itself is too reductionist -- indeed the Playstation Network also provides nothing other than itself, the ability for users to play online games with each other. If bitcoin crashes tomorrow, it wi
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by rfd4sgmk8u 6y ago
This can actually be solved using smart contracts in bitcoin, it is built into the underlying bitcoin opcodes -- CSV https://github.com/bitcoin/bips/blob/master/bip-0112.mediawi... This is the underlying
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by rfd4sgmk8u 6y ago
There are a few reasons. 1. Audibility. I know for certain that my BTC is safe, sitting in a UTXO that everyone in the universe can see. Counterparties can verify the provenance of the coin. With Zcash and Monero, you face the risk of (invi
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by rfd4sgmk8u 6y ago
I bought a Pinephone PostmarketOS Edition. I'm going to be honest, at worst it is e-waste, at best a toy. You wouldn't really use it as a phone. Its too slow, too flaky, feature lacking. Pinephone is a very raw product lacking ba