61–70 of 659 posts
Earlier quoted context omitted.
Why do you call it a shitcoin?
It has an uncapped supply, and inflates at 1% per year. It doesn't really seem to offer anything compelling other than its A-list investors. It was also created by the same person who brought the world eDonkey 2000, Mt. Gox, and Ripple.
This reads a bit like the sort of things people say when breaking up so as not to upset the other person too much. You're a great person, but you're just more of an asset than a medium of exchange, and what I need in my life right now is a medium of exchange. What future does an asset have if people don't actually buy stuff with it? That is not a purely rhetorical question; cryptocurrencies change things a lot. But t…
> What future does an asset have if people don't actually buy stuff with it? Lots of assets have value without people buying things with them. Gold, houses, stocks, etc. The more interesting question is how long Bitcoin will remain top dog merely as a store of value if other cryptocurrencies solve this on-chain / off-chain scaling problem better / faster. There's definitely some amount of value in the name alone, and…
With a caveat that houses and stocks can provide cashflow in terms of rent payments and dividends / option income.
This reads a bit like the sort of things people say when breaking up so as not to upset the other person too much. You're a great person, but you're just more of an asset than a medium of exchange, and what I need in my life right now is a medium of exchange. What future does an asset have if people don't actually buy stuff with it? That is not a purely rhetorical question; cryptocurrencies change things a lot. But t…
Store value / Investment. You can buy gold, stocks, foreign currencies as means of investment. You can't pay your restaurant bill with them but that doesn't mean they don't have a future.
For what it's worth, we just spent two weeks trying and failing to get Stripe's Bitcoin integration working on our site. The short version is that Stripe guaranteed a USD BTC exchange rate for an hour, after which they would automatically cancel the transaction. Given that most transactions now take well over an hour to be verified on the blockchain, that means basically every transaction fails.
Did their api allow you to set the transaction fee?
For what it's worth, we just spent two weeks trying and failing to get Stripe's Bitcoin integration working on our site. The short version is that Stripe guaranteed a USD BTC exchange rate for an hour, after which they would automatically cancel the transaction. Given that most transactions now take well over an hour to be verified on the blockchain, that means basically every transaction fails.
Regardless of the answer, variable and large fees really do make this sort of transaction a minefield.
Earlier quoted context omitted.
Why do you call it a shitcoin?
It has an uncapped supply, and inflates at 1% per year. It doesn't really seem to offer anything compelling other than its A-list investors. It was also created by the same person who brought the world eDonkey 2000, Mt. Gox, and Ripple.
This reads a bit like the sort of things people say when breaking up so as not to upset the other person too much. You're a great person, but you're just more of an asset than a medium of exchange, and what I need in my life right now is a medium of exchange. What future does an asset have if people don't actually buy stuff with it? That is not a purely rhetorical question; cryptocurrencies change things a lot. But t…
My reading of this post is that Stripe has no particular love for Bitcoin, but wants to avoid the ire of the Bitcoin fans on the internet, and so it's coated in "Bitcoin is great, we were the first people to adopt it, we can't criticize it at all" etc. etc.
Earlier quoted context omitted.
They could also replace it with money, which one can readily and easily, through systems with well-understood protocols that are agreed upon by participants in those systems, exchange for goods and services. (Even the Lightning Network people don't think you should use it with money. Not that that's likely to be a problem, what with it being for Bitcoin and all. Stripe also doesn't support any other commodities as me…
You seem very confused about what money is .
They should have replaced it with Lightning Network, is amazingly fast and cheap and works on top of Bitcoin. I'm running a test node, this stuff really works! > Lightning is a decentralized network using smart contract functionality in the blockchain to enable instant payments across a network of participants. In case you are curious https://lightning.network and another good resource here https://www.reddit.com/r/B…