Viewing profile — arbawk
arbawk
HN member- Joined
- Tue, Aug 18, 2020, 10:21 PM UTC
- HN karma
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- 17 items
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About arbawk
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Recent public activity
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Comment #26416083
It means my money (in Bitcoin) can be accepted anywhere that can receive data, and preserved without information loss over time. Gold cannot be transmitted over space as informatio…
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Comment #26415850
Its stock-to-flow ratio is the highest among metals, it is also divisible (although not easily), durable, portable, etc. which all make it desirable. However it's worse in most of …
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Comment #26415696
It seems like you haven't read anything on the matter and are simply forming a superficial, clueless opinion. Here are some references for you to actually know what you're talking …
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Comment #26414864
The most commonly accepted definition of money is: (1) Store of value. (2) Medium of Exchange. (3) Unit of account. This is specified in the article.
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Comment #26414851
You can transact Bitcoin on the Lightning Network for near-0 cost. Scarcity is arguably the most desirable property of money since it ensures the store of value property. That's wh…
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Comment #26414827
How would you define "intrinsic value"? This would imply that things have value whether or not humans agree they have value. Money itself should not have any value from utility oth…
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Comment #26323536
Money is defined as (1) a store of value, (2) a medium of exchange, and (3) a unit of account. Bitcoin is still in its infancy phase tackling problem (1). (2) Will come once enough…
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Comment #26322875
You should read the Bitcoin Standard or Layered Money to get a sense of what money is and how your notions are quite far from the truth, although delivered with feverish confidence…
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Comment #26322005
The very first line is flawed as mining companies are increasingly not selling their mined bitcoin. Why would they? They are obviously mining because they are bullish. In fact, who…
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Comment #26321943
1) Countries economies consist of the individuals within them. In India, where Bitcoin is banned, its exchange rate has since increased. Same in Pakistan. Hyperinflation occurs fre…
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Comment #26317037
Actually it's pretty important for many: https://www.youtube.com/watch?v=xLYYh4aPXAM It's being widely adopted in countries with inflating currencies: Nigeria, Vietnma, and Argenti…
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Comment #26316964
Now do the gold mining industry, and then how USD is backed by armies. And then you can research Lightning Network on top of Bitcoin and how it can process an unlimited number of t…
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Comment #26316510
You didn't read the article, did you?
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Comment #26316502
Ponzi schemes will always have people at the pinnacle of the period looking to sell. Bitcoin supporters will never sell, thus there is no bottoming out. It's actually just money, y…
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Comment #26316484
Bitcoin is the most durable money we've had, it can never be disposed of. Lost, perhaps. Energy consumption != energy production. Bitcoin is incentivizing reusable energy and movin…
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Comment #24205250
Not sure I understand what you're getting at.
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Ask HN: Would you mentor a beginner dev?
Are you currently mentoring? If not, would you see value in spending 30 mins or 1 hour per week dedicated to helping a qualified, passionate beginner dev make the right choices to …