151–160 of 237 posts
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If everyone wants to take their $2000 out at once, can they? In most countries that's highly unlikely, so is it really $2000? Or something entirely different?
What happens to Bitcoin if everyone decides to cash in?
This is dangerous! When everyday folks go bust on their crypto holdings, there will be pain, suffering and retribution. Or, perhaps you agree that we don't need any of these pesky financial and gambling regulations and safeguards. If this article was about Beanie Babies or penny stocks, would you be clapping?
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" What is cryptocurrency going to help these people do that they can't do already today? " International payments confirmed and spendable in minutes not days. Escaping inflation in Venezuela/Argentina/whoeverisnext. Sending remittance to family overseas without 10% wasted in fees. Receiving monetary donations for organizations that might be victim of oppressive censorship. Participating in modern e-commerce for the u…
When Cryptocurrency goes mainstream, how do we know that the Governments won't introduce regulations (/taxes?) on them ?
A world where Bitcoin was the default currency would rob nations of control over their own monetary policy, which is one of the most important tools for controlling the economy. Not to mention we'd be living in a world of persistent deflation (due to the ceiling on the maximum number of Bitcoins) which would have interesting consequences on the economy too.
The only cryptocurrencies that would be allowed to gain widespread usage would be those controlled by the central banks.
We're a long way off mainstream. Take the Web as an example: When my university lab computer got trumpet winsock and Netscape installed, it wasn't mainstream. When Hotbot was launched and could actually search with some degree of efficiency it wasn't mainstream. When I learned html and javascript from reading Webmonkey posts it wasn't mainstream. When I switched to this new upstart called Google it wasn't mainstream.…
It was in schools by that time. Youngsters could well embrace crypto long before the rest of the normies. I would have loved it when I was a kid. Anyone got kidos who grind crypto?
If you're reading the nytimes for crypto, then you're behind the curve. Bigly. Digital coins. Fucking morons.
& if you're reading the nytimes for crypto investment advice, then you're probably exposing yourself to risk with limited upside. Find someone who is investing in this shit full-time & give your money to them. Even tech VCs invest in crypto hedge funds. Polychain Capital is an example. Olaf Carlson-Wee (who runs it) was on the cover of Forbes recently (I believe ). They're the type of ppl you want investing for you. You could also bing Ari David Paul &/or Chris Burniske. The former is opening a fund. The latter will probably open a fund after his book 'Cryptoassets' is released (I think that's the play).
I tend to believe this is being upvoted because people want to believe this, not because it's actually true.
There's also probably quite a few influential people who have a vested interest in digital currency increasing in value.
So you get a lot of crypto and bitcoin related posts upvoted very quickly here. It's just that HN has disproportional amount of people invested in crypto so they act in their interest.
Most bitcoin early adopters were hackers after all.
Bitcoin seems quite straightforward and easy to understand, compared to our current banking system. A lot of comments mention the difficulty of explaining what is bitcoin and how it works, and that mainstream people cannot get enough understanding to start using it. What about the actual banking system? There are so much mainstream ignorance about our current banking system. What does it even mean that I own $2000 at…
It means they are holding $2000 of your money. And if you send it to another bank then it means they send it to them and now the other bank is holding your $2000. Nothing hard about that. Bitcoin might be easy if you're a techie and interested in it. I am not interested in it and I barely even know where to start. What does it mean to mine stuff? Blockchain? What.. There is no way my parents would remotely get starte…
This isn't even close to how modern fractional reserve banking systems or payment settlement processes work. The average user has no need to understand these systems, just as they will have no need to understand how the blockchain works in order to benefit from it.
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It means they are holding $2000 of your money. And if you send it to another bank then it means they send it to them and now the other bank is holding your $2000. Nothing hard about that. Bitcoin might be easy if you're a techie and interested in it. I am not interested in it and I barely even know where to start. What does it mean to mine stuff? Blockchain? What.. There is no way my parents would remotely get starte…
> "It means they are holding $2000 of your money. And if you send it to another bank then it means they send it to them and now the other bank is holding your $2000. Nothing hard about that." This isn't even close to how modern fractional reserve banking systems or payment settlement processes work. The average user has no need to understand these systems, just as they will have no need to understand how the blockcha…
The issue with Bitcoin is that you current kind of need to know about how it all works don't you?
>For this reason, none of the investors I spoke with engage in short-term trading but instead choose, in the online parlance of cryptocurrency enthusiasts, to “hodl” (“hold on for dear life,” rather than sell off for temporary gains). Someone trolled this author. "hodl" is just a misspelling of "hold," not an acronym.