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Bitcoin is no long the only game in crypto-currency town
31–40 of 96 posts
Re: Bitcoin is no long the only game in crypto-currency town
#32Earlier quoted context omitted.
That problem isn't a result of the 10 minute blocks. A 0-confirmation transaction normally is just fine. These are available on Bitcoin Cash.
I honestly don't know a ton about cryptocurrencies, but I though confirmed transactions were.....more or less whole point? can you give me an ELI5 version of why 0-confirmation transactions are ok?
It depends on the use-case. If you look at credit card transactions, they are only "confirmed" after 120 days (when chargebacks become harder...not impossible). A 0-conf transaction will work for all scenarios where you would trust a credit card with about the same amount of certainty. For those other scenarios, 10 minutes is better.
Re: Bitcoin is no long the only game in crypto-currency town
#33Earlier quoted context omitted.
In case the error gets fixed, will you guys clarify what you are referring to? Do you want it to say "crypto-currency game in town" instead of "game in crypto-currency town"?
title: "Bitcoin is no long the only game in crypto-currency town"
Let’s see how long they will take to fix
Re: Bitcoin is no long the only game in crypto-currency town
#34Earlier quoted context omitted.
That problem isn't a result of the 10 minute blocks. A 0-confirmation transaction normally is just fine. These are available on Bitcoin Cash.
A 0-confirmation transaction normally is just fine. It's really not fine at all. The competition is full confirmation transactions on a debit card or bank account in seconds with much lower or zero fees.
Debit and credit-card transactions don't confirm for about 120 days, which is when chargebacks become slightly more difficult. Those chargebacks also cost the merchant not only the price, but a $15 chargeback fee.
Re: Bitcoin is no long the only game in crypto-currency town
#35I recommend you check out https://raiblocks.net if you're looking for a currency that could compete with Bitcoin as a means of payment. The tech is smart as hell.
And who cares? Nobody is accepting raiblocks as a payment. There are more engineers working on Bitcoin and far more infrastructure around Bitcoin. All these altcoins are pump and dump schemes.
Nobody was accepting Bitcoin as a payment in 2009. I wish I'd cared about it more then.
Re: Bitcoin is no long the only game in crypto-currency town
#36I wish people would stop using market cap as if it was meaningful for cryptocurrencies. A lot of these coins are traded at low volumes on unregulated exchanges that allow wash trading and other means of manipulating prices. Even were that not the case and they had meaningful price discovery mechanisms 'market cap' would be a meaningless metric because if someone were to buy all the coins, they'd have destroyed the va…
I recently created my own cryptocurrency, UCaetanoCoin (UCC), with a supply of 100 trillion and one coins, all owned by me. I sold one to a friend of mine for $0.01 yesterday, which made me not only the richest person in the world, but also the first trillionaire, as the coins I own are valued in $1T USD. And my UCC has a market cap of $1T USD (and one cent). Then I exchanged a single coin with myself for $0.01. As m…
Show me your white paper :D
Re: Bitcoin is no long the only game in crypto-currency town
#37I recommend you check out https://raiblocks.net if you're looking for a currency that could compete with Bitcoin as a means of payment. The tech is smart as hell.
And who cares? Nobody is accepting raiblocks as a payment. There are more engineers working on Bitcoin and far more infrastructure around Bitcoin. All these altcoins are pump and dump schemes.
The project is still early stage, but still it promises to be what bitcoin should have been from the start : a decentralized, feeless and instantaneous means of transferring value.
Re: Bitcoin is no long the only game in crypto-currency town
#38Earlier quoted context omitted.
what would be a better measure?
Yield? Oh wait.
Exactly. You could buy assets that produce things people need or you could buy a random string of numbers and letters.
Obviously we are in a post scarcity world and therefore producing something of value is really a net negative. All hail the inert string of chars! It’s better than something because it does nothing.
Re: Bitcoin is no long the only game in crypto-currency town
#39Earlier quoted context omitted.
That problem isn't a result of the 10 minute blocks. A 0-confirmation transaction normally is just fine. These are available on Bitcoin Cash.
A 0-confirmation transaction normally is just fine. It's really not fine at all. The competition is full confirmation transactions on a debit card or bank account in seconds with much lower or zero fees.
> It's really not fine at all.
Actually, it really is. I've been accepting 0-conf transactions for nearly a year and had negligible double spends. https://incoherency.co.uk/blog/stories/zeroconf-payments.htm...
The small number of double-spends that did occur since I wrote that blog post I think are mostly due to bad luck (and opportunism) rather than malicious intent upfront, and represent only ~0.1% of payments.
Re: Bitcoin is no long the only game in crypto-currency town
#40Earlier quoted context omitted.
I recently created my own cryptocurrency, UCaetanoCoin (UCC), with a supply of 100 trillion and one coins, all owned by me. I sold one to a friend of mine for $0.01 yesterday, which made me not only the richest person in the world, but also the first trillionaire, as the coins I own are valued in $1T USD. And my UCC has a market cap of $1T USD (and one cent). Then I exchanged a single coin with myself for $0.01. As m…
Show me your white paper :D
As requested, my white paper:
https://cdn.shopify.com/s/files/1/0858/9696/products/122_102...
