rufusroflpunch

12 ms·

91.
by rufusroflpunch 4y ago
This is a goofy response. Belief isn’t a religious word. I could write an entire treatise on Bitcoin in my comment, but no one would read it, and besides that, the audience of my comment are people already convinced of its value.
92.
by rufusroflpunch 4y ago
Smurfing? If I take you’re meaning correctly, that is not what is happening here. You cannot make multiple small transactions to make up one larger transaction. It specifically disallows it in the bill. This really is about encouraging it’s
93.
by rufusroflpunch 4y ago
Always the same story: New generations of degen traders get wiped out on leverage. The smart ones figure out that Bitcoin is the only signal amongst the crypto noise, and the network gets stronger.
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by rufusroflpunch 4y ago
To me, this was very alarming. Shades of 2019 repo crash.
95.
by rufusroflpunch 4y ago
I think you're wrong. Fed seems determined to crush price inflation, but the inflation is largely driven by supply side issues, which they hold no control over. That means the only way to tamp inflation is by crushing demand into the g
96.
by rufusroflpunch 4y ago
Yup it’s popping. But it’s not just crypto. The whole economy is popping. Crypto is first because it’s the most leveraged and least regulated. But it’s not going to end there, not by a long shot.
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by rufusroflpunch 4y ago
It’s a sign the credit markets are starting to break. I think that is the only thing that could get the Fed to reverse course on tightening.
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by rufusroflpunch 4y ago
Next time we see them again, we will likely be in a hyperinflationary period, I would think. At some point in the future (not brave enough to say when), the Fed will run out of runway, credibility and backbone, and the easy money will never
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by rufusroflpunch 4y ago
Serious project, the name is mocking Web3.
100.
by rufusroflpunch 4y ago
Disappointing article. Bitcoin IS the innovation. Its energy use will continue to grow for a while, but probably not by as much as alarmists think. In return, you get digital property that can't be debased, corroded, eroded, confiscate
101.
by rufusroflpunch 4y ago
Fair enough.
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by rufusroflpunch 4y ago
I get the impression he felt somewhat trapped at Twitter. Between the board and the user base and the Federal government breathing down their necks, it must have been extremely difficult to actually do anything.
103.
by rufusroflpunch 4y ago
It’s either going to zero or infinity. Choose your fighter!
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by rufusroflpunch 4y ago
I am very excited to see what Jack can do solely focused on Bitcoin.
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by rufusroflpunch 4y ago
I don’t even think it is arguable. Square and CashApp are significantly more profitable than Twitter, I believe.
106.
by rufusroflpunch 4y ago
Yeah I was referring to the comments, not the article, because every Bitcoin article comments section devolves immediately into this no matter what the article is about.
107.
by rufusroflpunch 4y ago
No offense, but this demonstrates a lack of knowledge about Bitcoin’s history and nature. All of these things have been tried and failed. The core devs and the miners don’t control Bitcoin. The full nodes control Bitcoin. The only way to su
108.
by rufusroflpunch 4y ago
The comments are yet another endless proof-of-work debate. Here’s the truth: none of this debate matters. Bitcoin isn’t going away, and it’s not changing consensus algorithm. Money is a network good, and Bitcoin has the best network. It wil
109.
by rufusroflpunch 4y ago
Value is always, and in all cases, subjective. So what makes Bitcoin users subjectively value Bitcoin? Because it's truly decentralized. Its decentralization is what makes it scarce, neutral and uncensorable. There are no insiders, fou
110.
by rufusroflpunch 4y ago
Yes, money is a form of collectible. I don't think this is the criticism you believe it is.
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by rufusroflpunch 4y ago
This is why I hold Bitcoin. I expect it to be widely desirable someday, and will gain much value in the meantime. This is the nature of money itself.
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by rufusroflpunch 4y ago
Are you sure? The Luna Foundation has been the largest buyer of Bitcoin the past couple of months because they knew their scam was crumbling and they needed an actual reserve asset. Yesterday they deployed their reserves to exchanges and OT
113.
by rufusroflpunch 4y ago
The concept of decentralized "stablecoins" is fool's gold. It is not possible because it requires an outside source of truth (price of fiat) to be injected into the system by a trusted third party. The reason that proof of wo
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by rufusroflpunch 4y ago
I don’t know how many times we have to listen to failed predictions of the future before we stop trusting them.
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by rufusroflpunch 4y ago
I think your time horizon is just too short. Fiat currencies weaken and die because of counter party risk. Governments can't help but abuse their powers and eventually kill their currency. Bitcoin has an entirely new and unique value p
116.
by rufusroflpunch 4y ago
> Which network effects are you referring to exactly? The network effects of people owning and becoming more comfortable with it. This drives the value, which drives companies to build on it, which further drives value, etc. This will ei
117.
by rufusroflpunch 4y ago
> This misses the whole picture which is about both supply and demand, and mining is only one side of the equation. Of course, I just pointed out that price action has historically gone in four-years waves driven by halving cycles. This
118.
by rufusroflpunch 4y ago
Bitcoin isn't a stock. It has no counter party risk and doesn't offer returns. It is a monetary good. It's akin to holding a commodity metal like gold or silver, but it has comparative advantage in that it has no competing ut
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by rufusroflpunch 4y ago
Store of value depends on the time frame. Bitcoin has a four year halving cycle (the supply issuance halves every four years). If you look at the 200WMA (weekly moving average), which is roughly 4 years, it's a steady march upward. So
120.
by rufusroflpunch 4y ago
This viewpoint is simplistic to the point of absurdity.

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