Original is behind a paywall on Wall Street Journal: https://www.wsj.com/articles/bitcoins-wild-ride-shows-the-tr...
and some kind of page bug that hangs my Chrome tab
or was that my ad blocker.. ?
Bitcoin has died 166 times, so far
11–20 of 179 posts
Re: Bitcoin has died 166 times, so far
#12And what is the point? Does the price prove that bitcoin has not failed?
To me, bitcoin died sometime in 2013 when mining became hopelessly centralised, breaking the economic and security models Satoshi had set forth. The bitcoin thereafter has been a soulness Frankenstein animated by a mixture of ego, greed, and hubris. I don't want to make any predictions, but when the crash comes it will be over before you knew it.
As for the wider field of blockchain/DLT, it bears an uncanny parallel to the early days of nuclear physics when radioactivity was first discovered by the Curies: The science behind it was be sound, yet any benefit to mankind was overshadowed by the cottage industry selling radioactive snake oil for a long time before the mania died down. And people died when basic precautious were not taken.
It may work down the road and it may not, but right now all I see is woo in every direction.
Re: Bitcoin has died 166 times, so far
#13Earlier quoted context omitted.
I don't even know what it means for a website to send a notification. Does it mean a flashing tab in firefox?
Depends on your OS. For Chrome on macOS, it'll show a chrome-styled square box with an icon and a piece of text in the upper right hand corner, kinda like macOS notifications (but they look nothing like it). In general, web notifications (can) work the same way they do on your smart phone. They can arrive from an active tab as well as from a background service. Safari (on macOS) will use the native macOS notification…
> I have no idea wat IE on Windows does.
https://blogs.windows.com/msedgedev/2016/05/16/web-notificat...
Re: Bitcoin has died 166 times, so far
#14A balanced view is that all the articles hold some substance. But the technology is more at threat through its own community than any external force.
One question that I don't really understand is how can the total supply of BTC serve its own growth.
If the market cap reaches the same value as gold for example - how long before one Satoshi becomes too large a divisible unit to be useful?
Can you divide Satoshi?
Re: Bitcoin has died 166 times, so far
#15A balanced view is that all the articles hold some substance. But the technology is more at threat through its own community than any external force. One question that I don't really understand is how can the total supply of BTC serve its own growth. If the market cap reaches the same value as gold for example - how long before one Satoshi becomes too large a divisible unit to be useful? Can you divide Satoshi?
With a hard fork you can, yes.
Re: Bitcoin has died 166 times, so far
#16In any other world a change of 30-40% per day in any direction would be a cause of concern.
Bitcoin enjoys a reality distortion field that keeps it inflated beyond any reason. It's not that different from any other coin on these lists: http://deadcoins.com, https://magoo.github.io/Blockchain-Graveyard/
Re: Bitcoin has died 166 times, so far
#17A balanced view is that all the articles hold some substance. But the technology is more at threat through its own community than any external force. One question that I don't really understand is how can the total supply of BTC serve its own growth. If the market cap reaches the same value as gold for example - how long before one Satoshi becomes too large a divisible unit to be useful? Can you divide Satoshi?
Isn't the greater problem that the total market cap of bitcoin is always going to be 22 million? In other words, the single bitcoin I own will always be worth 1/22M of the entire market cap, regardless of how much it's used.
And I only own one. There are lost of people out there who owns thousands of bitcoins. 1000 bitcoins is 1/22k of the entire market cap.
How could this be sustainable?
Re: Bitcoin has died 166 times, so far
#18And what is the point? Does the price prove that bitcoin has not failed? To me, bitcoin died sometime in 2013 when mining became hopelessly centralised, breaking the economic and security models Satoshi had set forth. The bitcoin thereafter has been a soulness Frankenstein animated by a mixture of ego, greed, and hubris. I don't want to make any predictions, but when the crash comes it will be over before you knew it…
Do you understand the Bitcoin security model? It has not been broken. And do you understand what "woo" means? Your hand wavey proclamations about Bitcoin fit the bill.
Re: Bitcoin has died 166 times, so far
#19I think bitcoin is a lot like Snapchat. A lot of people dismiss it because it doesn't make total sense. But those who do, are trying to work with it.
Yes, it may die next week. But next week may also bring another reason to stick with it.
Even if it dies, we already had a taste of it, what are we gonna do? Not try again?
Re: Bitcoin has died 166 times, so far
#20And what is the point? Does the price prove that bitcoin has not failed? To me, bitcoin died sometime in 2013 when mining became hopelessly centralised, breaking the economic and security models Satoshi had set forth. The bitcoin thereafter has been a soulness Frankenstein animated by a mixture of ego, greed, and hubris. I don't want to make any predictions, but when the crash comes it will be over before you knew it…
Trying to learn something about blockchain: the technology and its applications right now, means wading through masses of hype and parties anxious to 'get into it' before it's 'too late'.
In healthcare IT the blockchain is hot right now. Government bureaus are pushing for adoption, care institute executives heard somewhere that this blockchain thing is the bee's knees and well suited for healthcare stuff like insurance mutations, and IT vendors are worried someone else will beat them to it.
Is it a useful technology? Probably. But right now for many the blockchain is the goal, not the solution to any specific problem.