181–190 of 487 posts
Earlier quoted context omitted.
The same could have been asked about the Tulip and Bulb craze.
The tulip boom and bust didn't have much of an effect on the overall Dutch economy. According to this Smithsonian article, the story has been overblown significantly: https://www.smithsonianmag.com/history/there-never-was-real-...
What's with all the extreme negativity with Bitcoin and its trading price on HN? I've been noticing that in all the BTC related threads recently. Yes, this is possibly getting too large too fast. Yes there is a chance this is a bubble because the barbers and shoeshine boys are talking about it. But there is also a chance that we genuinely are at the beginning of the transition from Fiat currencies to crypto (beginnin…
Some of the negativity about Bitcoin in particular is around the relative lack of utility of the actual network, and how this usefulness hasn’t grown with the price. Currently, Bitcoin Core (the dominant fork still) has ridiculously large transaction fees (sometimes averaging over $20 for a given day) and transactions can take hours or days. There’s also some contention because Bitcoin Cash (the other fork of Bitcoin…
I think having the first-mover advantage and name recognition, the network effect that it has right now and the global media's attention, it looks really difficult for a smaller coin with better tech overtaking BTC anytime soon.
We've all seen technologies that are more advanced than an established player in a field but a lot of times, that does not matter. That's what I believe at least for the short to mid-term timeline.
Previous crashes = bankers dunking on retail investor rubes
Coming cryptoocurrency crash = nerdboi investor rubes dunking on bankers
Buy my pretties! Buy!
I am also thinking about building a cryptocurrency trading desk inside my company, any thoughts about how to recruit in this field? I am mainly finding it difficult to get the right personality traits since there are a lot of shady and non-professional people.
I honestly can't tell if this is a serious comment.
I am also wondering if your comment is serious of not because it doesn't add anything to the discussion.
Earlier quoted context omitted.
No, it becomes tax evasion if you do this and then fail to pay the applicable tax on it. In the same way, it's not tax evasion to have a successful business, say, making a million dollars selling shoes, even though there are limits on how much money you can make selling shoes before you have to pay tax on it. It is tax evasion if you make a million dollars of taxable income and only pay enough tax for half a million.…
It looks like we're both in agreement that there are legal requirements beyond "just transfer all the money to my son". Point being. When the client ask "transfer the money to my son and close my account", he usually doesn't mean "take 30% off, transfer what's left to my son and close the account". You can have a look at France. I am not sure what paperwork is needed to make it legitimately, it's non trivial.
It’s pretty common to move around retirement accounts in the US, the most popular type are tied with your job and frequently move when you change employers.
What's with all the extreme negativity with Bitcoin and its trading price on HN? I've been noticing that in all the BTC related threads recently. Yes, this is possibly getting too large too fast. Yes there is a chance this is a bubble because the barbers and shoeshine boys are talking about it. But there is also a chance that we genuinely are at the beginning of the transition from Fiat currencies to crypto (beginnin…
I can't do anything with Bitcoin that I can't do more easily with my credit card. It offers no value except a tool for rampant speculation. Block chain is junk, and while I see promise in the future I strongly believe we're in the Myspace stage. Something better will come along in a few years and blow this garbage away. Something that's actually usable as a real currency in all the ways I can use a dollar and maybe more.
Earlier quoted context omitted.
No, it becomes tax evasion if you do this and then fail to pay the applicable tax on it. In the same way, it's not tax evasion to have a successful business, say, making a million dollars selling shoes, even though there are limits on how much money you can make selling shoes before you have to pay tax on it. It is tax evasion if you make a million dollars of taxable income and only pay enough tax for half a million.…
It looks like we're both in agreement that there are legal requirements beyond "just transfer all the money to my son". Point being. When the client ask "transfer the money to my son and close my account", he usually doesn't mean "take 30% off, transfer what's left to my son and close the account". You can have a look at France. I am not sure what paperwork is needed to make it legitimately, it's non trivial.
What's with all the extreme negativity with Bitcoin and its trading price on HN? I've been noticing that in all the BTC related threads recently. Yes, this is possibly getting too large too fast. Yes there is a chance this is a bubble because the barbers and shoeshine boys are talking about it. But there is also a chance that we genuinely are at the beginning of the transition from Fiat currencies to crypto (beginnin…
For technical reasons, Bitcoin honestly sucks. The block rate is so low that transactions cost many dollars and take hours to confirm. This is only going to continue to get worse, as it turns out that having a global ledger is actually the opposite of a decentralized system. I can't do anything with Bitcoin that I can't do more easily with my credit card. It offers no value except a tool for rampant speculation. Bloc…
It has a good chance of working, in my opinion (the lightning network), if they don't dawdle too long. But the clock is ticking.
Earlier quoted context omitted.
I honestly can't tell if this is a serious comment.
This is a very serious comment. I am wondering how to recruit professionals to build a trading desk inside my company where we specialize in secure cryptocurrency applications and are part of some venture funds but just don't do day trading. I am also wondering if your comment is serious of not because it doesn't add anything to the discussion.
Earlier quoted context omitted.
For technical reasons, Bitcoin honestly sucks. The block rate is so low that transactions cost many dollars and take hours to confirm. This is only going to continue to get worse, as it turns out that having a global ledger is actually the opposite of a decentralized system. I can't do anything with Bitcoin that I can't do more easily with my credit card. It offers no value except a tool for rampant speculation. Bloc…
The lightning network could fix everything, or fail spectacularly. I think an even bigger danger than failing spectacularly is if they take too long to roll it out. Other cryptocurrencies are already gaining some favor because of the situation BTC is in now with the high transaction fees. It has a good chance of working, in my opinion (the lightning network), if they don't dawdle too long. But the clock is ticking.
The whole reason we have currency is to allow transactions between people that don't trust each other, so I don't think Lightning network will do anything significant