371–380 of 487 posts
The list of things that makes this as genuine as it can be goes on and on.
It's a repeat of the 2008-09 crash from subprime loans. Everyone knew what was happening. But they just wanted to make as much money from the situation before getting out. Of course Lehman Brothers didn't get out in time.
There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…
Earlier quoted context omitted.
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…
The negativity often seems to go beyond reasonable criticism and delve into spite. As another commenter suggested, I suspect a bit of jealousy is at play and it wouldn't surprise me if a few spiteful commenters wouldn't discuss the shortcomings in a much different way if they held Bitcoin. Obviously, there is more than enough happy-clapping on the side of speculators to balance everything out, but I do wish the conve…
People do discuss Bitcoin differently depending on whether they have bought in or not. But the dangerous effect is the opposite of what you aluded to. People attached to bitcoin who have money on the line engage in acrobatic brain gymnastics to find ways to rationalize the value of it because they desperately want their gains to be real. At the moment they simply aren‘t. Bitcoin has failed it‘s initial mission, it‘s impractical and people just speculate that somehow things might change in the future. It‘s just a mind game right now. So your mid-ground would require me to accept that there is some value in the speculation regarding bitcoin which is a tough sell. It‘s mostly greed and people will be hurt by it at some point. Let‘s stop before it gets to messy!
When it comes to Bitcoin, I think of Linux as an analogy. When it first emerged, many people questioned it's basic premise: "why is there a new operating system? Everyone uses Windows, or Mac". People didn't know or understand the idea of open source: "Doesn't that just mean people will find bugs and ways to hack it?" "Without a company behind it, how do I know I can trust it in the long term?" At first it's usabilit…
That's one of the more convincing arguments I've seen. I still hold though that Bitcoin was an early prototype and its value will sooner or later approach zero. I do however think that blockchains and cryptocurrencies are a good idea and here to stay. To build on your example: Linux is here to stay but a number of the old companies, distros and packages are either gone or on life support and newer companies, distros…
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…
https://www.schneier.com/blog/archives/2017/12/crypto_is_bei...
There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…
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> But there is also a chance that we genuinely are at the beginning of the transition from Fiat currencies to crypto (beginning of the S-curve mass adoption) I can only speak for myself but I see this chance as practically being 0. As far as I can tell the only people who would need something like Bitcoin are those who participate in illegal/immoral activity. Seeing as there is no regulation, I don't think it's far f…
The total market cap of all cryptocurrencies is .6 trillion USD. There's dozens of coins with teams and communities trying to make them succeed and provide value. There's a lot of work and creativity involved in providing new technological solutions to overcome the limitations of older cryptocurrencies. I think you should give the cryptoscene another chance and do some research on what's going on. Saying that all thi…
> I think you should give the cryptoscene another chance and do some research on what's going on. Saying that all this work, money and effort is something that will only benefits scammers is a bit unfair.
I suppose the issue is that I don't really see anything wrong with our existing currencies but there are hurdles and issues to using cryptocurrencies (I can't actually use it to buy many things and its value fluctuates too much for my stomach to handle).
There's a cryptocurrency called RaiBlocks that is working to be the best at transfer of value. The protocol uses new cryptocurrency concepts evolved over the years and I believe it can be quite revolutionary. In my opinion, bitcoin is one of the worst cryptocurrencies at the moment, and to be honest I hope to see it die soon. Create a wallet using this site https://raiwallet.com/ , paste your address here and I'll se…
Earlier quoted context omitted.
Analogy is good. It does not however tell us that it will be the case, especially if you look at the development community around Bitcoin. While Ethereum, serious innovative stuff is happening but is not being aggresively marketed for good reasons.
Ethereum has been hyping proof-of-stake since version one and delivers Cryptokittens instead.
It's like Snapchat's dog-face filter is the normalising step for AR, you need the small, novel things to move the needle.
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…
Blockchains are objectively a better system. If the government pulls a Napster on Bitcoin (and Blockchains), I hope they get whatever is coming to them. Napster -- it had its problems with fairness and ownership, and a reasonable case could be made as to why it hurt creative producers. But Bitcoin/Blockchains? Literally no case can be made as to why we have banks when we have Bitcoin. It helps everyone except the people in charge of the inferior systems.
For example, what happened with Slavery? There was a lot of old money in Slavery and at some point we had to be like "sorry guys, your system sucks". Of course, that ended with war. But at the end of the day, we are in a better system. I can proudly say "slavery is disgusting" without fear of being hurt by the government.
Today we live in a time of financial slavery. A time where certain people get to control our money and thus our means. When will we be able to say that "banks are disgusting"? I am waiting for that day.