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arbawk

HN member
Joined
Tue, Aug 18, 2020, 10:21 PM UTC
HN karma
27
Public activity
17 items

About arbawk

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Recent public activity

  1. comment
    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…

  2. comment
    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 …

  3. comment
    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 …

  4. comment
    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.

  5. comment
    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…

  6. comment
    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…

  7. comment
    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…

  8. comment
    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…

  9. comment
    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…

  10. comment
    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…

  11. comment
    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…

  12. comment
    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…

  13. comment
    Comment #26316510

    You didn't read the article, did you?

  14. comment
    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…

  15. comment
    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…

  16. comment
    Comment #24205250

    Not sure I understand what you're getting at.

  17. story
    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 …