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As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

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Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

#321

Post by hndamien »

tomhoward wrote: post #301
hndamien wrote: post #295

Earlier quoted context omitted.

“Please don't comment about the voting on comments. It never does any good, and it makes boring reading.” Thanks, I actually had no idea about this one, and nobody ever bothered to point it out to me. I do find it disheartening though that anything against the grain in this forum often results in downvote and no comment. That said, this will be my final mention of the issue and I’ll just eat the negative karma from h…

There is an art (that applies here and elsewhere) to phrasing comments/opinions that might go against the grain, in such a way that people appreciate being educated/enlightened or given the chance to think about an old topic in a new way. Of course on every topic there will be some people who don't want to rethink their position, but you shouldn't worry about them (though accept that their downvotes are inevitable).…

Thanks for the tip. I certainly fail at this art since agreement and open ended question results in downvotes. I really can't get much softer when trying to open minds. I could improve my punctuation I guess.

Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

#322

Post by dang »

mindfulplay wrote: post #226
zik wrote: post #198

Earlier quoted context omitted.

Not everyone's who's interested in decentralized trustless payment technology is a "shill". You're dismissing innovation and tarring it with greed.

I did intentionally want this to be inflammatory. ICOs,crapcoins have took money from the general public without any regulation and funneled into shady, dodgy ventures. So yes of course my comments come out to be inflammatory.

Please don't do that here. It damages the container regardless of how right you are.

https://news.ycombinator.com/newsguidelines.html

Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

#323

Post by sgt101 »

stale2002 wrote: post #318
sgt101 wrote: post #307

Earlier quoted context omitted.

Nhawww - I was thinking about the USA doing it...

The USA has proven to be extremely friendly to crypto, actually. The SEC supports it. So once again, this hypothetical seems very unlikely.

Yep, you are completely correct - so far. My reading is that they have decided that crypto is not a threat to their tax raising powers and it might provide a useful mechanism for a para-cash economy which enables more overall economic activity and yet is more amenable to monitoring and tracking and in the limit enforcement.

Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

#324

Post by arisAlexis »

minimaxir wrote: post #77
arisAlexis wrote: post #58

by the way, Techcrunch CEO was all in crypto last year

Michael Arrington left TechCrunch a long, long time ago.

not sooo long ago and why is it relevant? he is still the founder and his actions bear some significance.

Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

#325

Post by mindfulplay »

dang wrote: post #322
mindfulplay wrote: post #226

Earlier quoted context omitted.

I did intentionally want this to be inflammatory. ICOs,crapcoins have took money from the general public without any regulation and funneled into shady, dodgy ventures. So yes of course my comments come out to be inflammatory.

Please don't do that here. It damages the container regardless of how right you are. https://news.ycombinator.com/newsguidelines.html

Apologies. Won't do that again.

Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

#326

Post by hannasanarion »

Nasrudith wrote: post #315
hannasanarion wrote: post #314

Earlier quoted context omitted.

There is no need for Byzantine tolerance when there is a single authority that is held responsible, like a bank, or a government. Byzantine problems rarely occur in real life, they were effective invented by cryptocurrencies and "solved" by cryptocurrencies (by turning luck and wasrefulness into a measure of authority)

>There is no need for Byzantine tolerance when there is a single authority that is held responsible, like a bank, or a government. Where do you live where a single authority that is held responsible? It must be a very idyllic place. In all seriousness a single authority is both very exploitable and failure prone.

If it was exploitable and failure prone, why is it the standard going back centuries?

If somebody gets into my bank account, what happens? The Bank covers my losses as law enforcement looks into the security breach and tracks down the thief. My life is unchanged, I don't lose anything.

If somebody gets into my bitcoin wallet, what happens? I lose everything I put into it, period. Can't get it back, can't prosecute, can't have my losses covered by federal investment insurance, it's just poof, gone, and no government is going to chase it down because the design of the system prevents any authority from intervening.

Which of these is more idyllic to you? I would much rather live in the world of banks and FDIC and police and courts than to live balancing on the razor's edge in crypto-land, a keystroke away from total ruin.

Re: As Bitcoin Sinks, Industry Startups Are Forced to Cut Back

#327

Post by [deleted] »

cageface wrote: post #225
minimaxir wrote: post #6

At what price will the Bitcoin death spiral occur? (i.e. when it costs more to produce/handle Bitcoin than the revenue generated, so best move is to just exit the crypto industry).

I think the problem is that BTC has been through a very public boom and bust cycle so the public at large is now very wary and a lot of new regulations are coming in. Blockchain needs to start solving some actual man in the street kind of problems soon if it's going to retain any mindshare.

[deleted]
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