spiorf

8 ms·

31.
by spiorf 5y ago
Because it cuts economic incentive to produce ineffective (but safe) drugs on purpose.
32.
by spiorf 5y ago
https://lnbig.com/#/ for example, or just search for "How to get inbound liquidity on LN"
33.
by spiorf 5y ago
You have a wrong understanding of how LN works. You are conflating inbound and outbound liquidity. To receive 1 btc a merchant does not have to open a 1 btc channel. Another node has to open a channel with him. He can buy 1 btc of incoming
34.
by spiorf 5y ago
> Why is no one pointing out that, in order to receive bitcoins on the Lightning Network (LN), you need to lock bitcoins in a payment channel? Because it is false. To receive bitcoins on the LN you need to have a node. Other parties can
35.
by spiorf 5y ago
Its price was $19,650 only for a brief moment. Why pick that particular moment for the range instead of the minimum and maximum as per "range" definition?
36.
by spiorf 5y ago
In every jurisdiction of the planet. At the same time, otherwise it just gets more profitable elsewhere.
37.
by spiorf 5y ago
What about the hypotesis that a global shared ledger under no-one's control with thermodynamical guarantee of immutability actually has some value?
38.
by spiorf 6y ago
A 50% hashrate dump right after a difficulty adjustment would result in the next epoch running at half-speed for 4 weeks. Network would keep going, but if would not be "just fine".
39.
by spiorf 6y ago
Energy is the only physical thing you can put into the internet, and is the price to pay for having noone in control of this new permissionless fixed-supply global currency. Think about how global resources are allocated on large scale, and
40.
by spiorf 6y ago
Tulip mania lasted a few months. Bitcoin is 12 years old going strong. I think that this could settle the argument for good.
41.
by spiorf 6y ago
Who prints new money?
42.
by spiorf 6y ago
Who and how issues the new money? how do you decentralize that? Otherwise you have a central bank and a database is more efficient.
43.
by spiorf 6y ago
So the manufacturer must have the private keys copied onto every device, so that key must be present and cleartext on every production line. And at the same time it must prevent leaking of such key. Not to mention that leaking of such key c
44.
by spiorf 6y ago
It has never been about "cryptos" and "blockchains". It's about bitcoin being a form of ethereal gold you can teleport and memorize. VC funding and ROI are irrelevant.
45.
by spiorf 6y ago
Or the Ultimate guide: educate yourself on what is money, where it does come from, what is the best store of value and then decide for yourself.
46.
by spiorf 6y ago
How is that different than stock/commodities/forex markets?
47.
by spiorf 6y ago
Block reward is now 6.25 btc, and fees reward is about 1.5 btc. Every 4 years block reward halves, so in the next two halving block reward will be much less than fee reward, making it more and more irrelevant. The 2140 is the date where it
48.
by spiorf 6y ago
You are wrong. > 50% of mining can only censor transaction. Changing the fixed cap would break consensus, so it can only be done with an overwhelming majority not only of miners, but also users, exchanges and merchants. (otherwise mine
49.
by spiorf 6y ago
Countermeasures: * Move coins to cold storage wallet. * Memorize seed phrase. * Destroy written copies. * Walk casually through checks at airport or frontier as a tourist, carrying nothing but chlothes. * Do whatever you want to do with you
50.
by spiorf 6y ago
For the casual observer, yes. For a "professional" miner, price swings are irrelevant. The same quantity of bitcoin is mined independently of the price. Bitcoins mined in March are worth the same of bitcoin mined today even if pri
51.
by spiorf 6y ago
I was suggesting the opposite.
52.
by spiorf 6y ago
The splinter fractured and has his own little splinter too now!
53.
by spiorf 6y ago
But it's wrong. It's like making car efficiency relatable by saying that a car can go 180km/h using 5 airbags.
54.
by spiorf 6y ago
Yes it is. You can have empty block or full block and energy expended is the same. Cap is irrelevant in this context.
55.
by spiorf 6y ago
It's still wrong a wrong comparison. Bitcoin network's energy is expended for securing the block. It means that to revert a 1 hour-old transaction, an attacker would have to consume double the energy the whole bitcoin network expe
56.
by spiorf 6y ago
Rarely industrial process can switch on and off randomly and still scale revenue linearly. The capital expenditure argument makes sense when mining is the primary business. Using old and otherwise unprofitable (but cheap) hardware makes sen
57.
by spiorf 6y ago
That assumption is wrong. Take it as a single data point about the reliability of their peer review process. EDIT: I really mean that is a single data point. A usually reputable publisher can make mistake sometimes.
58.
by spiorf 6y ago
Ignore the millions of 1-ton chunks of metal that move 1 person slower than a bike on average. It's the bitcoin network's fault.
59.
by spiorf 6y ago
It's a mistake to assume energy source composition too. I would guess that a majority of mining is renewable right now (mining is a perfect sink of intermittent excess energy, and because its profitability is related to energy cost,
60.
by spiorf 6y ago
Actually, the "inefficiency" of everything is converted to heat. So, a PC is more efficient because it does useful work in the meantime.

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