sbenitoj

26 ms·

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by sbenitoj 9y ago
I applaud your wife for investing her time an energy for breastfeeding your children for so long, almost no one breastfeeds that long anymore -- that investment will pay dividends for your children for the rest of their lives. But I have to
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by sbenitoj 9y ago
Let me clarify, I'm not saying that it shouldn't be studied. My point is this -- people can be convinced by "studies" and people in white coats that formula is similar or possibly better than breastmilk (see the last 50
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by sbenitoj 9y ago
What's amazing is that people even feel the need to study whether breastmilk is superior to processed alternatives -- would a zoologist ever recommend baby mammals receive any food other than their mother's milk to facilitate opti
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by sbenitoj 9y ago
Isn't it possible that people are using cryptocurrencies as an alternative to restrictive fiat currencies and not just for speculative purposes? (Obviously people are also using them for speculation, but that doesn't mean that&#x2
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by sbenitoj 9y ago
It has not shattered any belief in traditional currencies YET -- give it a few more decades and a few more financial crises caused by incessant money printing and fake credit expansion and I suspect things will look quite different.
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by sbenitoj 9y ago
Well, its certainly a common belief that the requirement to pay taxes in the national currency gives a national currency its value, but the hyperinflationary events in Zimbabwe and the Weimar Republic (and the subsequent worthlessness of th
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by sbenitoj 9y ago
People are using it for a lot more than speculation, including skirting capital controls imposed by crony bureacrats, buying goods and services that are "morally unacceptable" to puritanical politicians, and as a means of savings
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by sbenitoj 9y ago
This, 1,000x this. From your comment I assume you're already familiar with the Mises Institute and the Austrian Business Cycle Theory?
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by sbenitoj 9y ago
What do you believe fiat currencies are backed by?
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by sbenitoj 9y ago
You prefer the "stuffed to the gills" flavor of blocks eh?
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by sbenitoj 9y ago
Even if they could, why would they destroy an absolutely MASSIVE income stream, it goes completely counter to their own economic incentives.
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by sbenitoj 9y ago
Support for Bitcoin Cash continues to grow, currently over 42% [0] of the combined hashing power of the Bitcoin and Bitcoin Cash networks is dedicated to Bitcoin Cash mining. Meanwhile the Bitcoin mempool (pending transactions) is approachi
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Bitcoin Cash Blockchain Length Passes Bitcoin(cash.coin.dance)
4 points by sbenitoj 9y ago|3 comments
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by sbenitoj 9y ago
The ability to fork off from the main chain and create your own coin + the long-term economic interest of miners being aligned with the entire ecosystem acts as checks on these potential problems.
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by sbenitoj 9y ago
I'm not shutting my mind off to it, my point was that it's not proven at as large of scale yet.
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by sbenitoj 9y ago
Even if it's not perfectly decentralized, the fact that users can fork and create their own cryptocurrency acts as a fail safe. Miners with > 51% mining power would only be destroying their own long term profitability if they destro
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by sbenitoj 9y ago
You're correct that the cap on Bitcoin is somewhat arbitrary, but the point is that there IS a cap, which is not the case with fiat currencies which can be printed indefinitely (which is why the purchasing power of all fiat currencies
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by sbenitoj 9y ago
That's not strictly correct, the difficulty to mine Bitcoin has increased massively over time: https://bitcoinwisdom.com/bitcoin/difficulty Every 2016 blocks the difficulty adjusts so that ON AVERAGE a block is fo
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by sbenitoj 9y ago
The combined market caps of Steem and Bitshares is ~$500m, that is not the same as a $30bn market cap like Ether.
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by sbenitoj 9y ago
Maybe, hopefully they figure it out, Vitalik Buterin et al are certainly working on it -- but there is no proof yet that a Proof of Stake system can function at scale like a Proof of Work system can.
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by sbenitoj 9y ago
What would you say is the value of decentralization?
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by sbenitoj 9y ago
At the moment, there aren't a ton of real-world use cases aside, but the future will be very different! Check out Open Bazaar for an entire market place that's facilitated via cryptocurrencies.
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by sbenitoj 9y ago
Yep, that's pretty much spot on. R/Bitcoin is extremely censored (and the mod logs are not public). R/BTC is another discussion forum that seems to be more open (people from R/Bitcoin will say otherwise). You'd thin
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by sbenitoj 9y ago
Transaction fees, even when they're really expensive like they currently are on the Bitcoin chain, are still minimal in comparison to the block reward of 12.5 Bitcoins (or about $51,250 at current prices) per block found. Here's a
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by sbenitoj 9y ago
Not sure what you mean by "BTC's decisions" -- it's a decentralized network that has A LOT of different stakehodlers -- some more important than others, some louder than others. All humans are driven by self-interest, as
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by sbenitoj 9y ago
Instead, the creators of the 2nd layer solutions will collect fees.
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by sbenitoj 9y ago
That's incorrect - in general the miners are opposed to SegWit, but they accepted a compromise of agreeing to SegWit if they could increase the block size to 2 MB (from 1 MB currently). SegWit will be activated within 24 hours, but Bit
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by sbenitoj 9y ago
That's correct -- the difficulty to mine BCH will reset at block 479,808 (the last adjustment) + 2016 blocks (the number of blocks in between each difficulty adjustment). The difficulty of mining BCH is currently expected to increase a
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by sbenitoj 9y ago
It is currently 116% more profitable to mine Bitcoin Cash than Bitcoin [0] -- this figure will fluctuate as the price of Bitcoin and Bitcoin Cash fluctuate, and the difficulty to mine each cryptocurrency adjusts every 2016 blocks. [0] http
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by sbenitoj 9y ago
The headline is incorrect, the graph shows the RELATIVE hashrate of Bitcoin and Bitcoin Cash. The absolute hashrate of the Bitcoin network is still increasing [0]. All this chart demonstrates is that the hashrate of Bitcoin Cash is increasi

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