231–240 of 377 posts
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That's subjective. It's a lot cheaper and fast to send money.
What's the most I could send without network liquidity issues?
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> Almost everyone who had the opportunity to use the Internet, would. I'm too young to have experienced this. But I've seen countless of clips and interviews of people claiming they would never use the internet because they can send post and use a telephone instead. "Computers are for geeks", etc. > New use cases manifested immediately all the time. Nobody ever said “we implemented this world wide network thing, now…
Nobody said that back then, no. They said there had been an over-exuberant market with people throwing stupid money at any old idea, but nobody was saying "the internet is a bust" or even "we don't know the use-cases" because there were a ton of other useful, successful things going on with it. You said it yourself - you're too young to actually know a lot about that, but you use it to bolster your arguments anyway.
Many people were saying this, Paul Krugman (one of the leading economists) went as far as comparing the internet to the fax machine:
"The growth of the Internet will slow drastically, as the flaw in 'Metcalfe's law'–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's."
> You said it yourself - you're too young to actually know a lot about that, but you use it to bolster your arguments anyway.
I'm too young to live through it, but luckily I studied it in university :-) Many people claim to know many things about history prior to their birth. I guess I'm one of these people.
Crazy use for Bitcoin: mine Bitcoin in satellites with giant solar arrays, at a capacity that makes it cheaper than terrestrial mining. Since terrestrial mining no longer economical, it ceases altogether resulting in reduction of energy consumption. I.e. space Bitcoin mining captures solar energy in space and sends it to earth in the form of coin, which is much safer than beaming the energy itself. I'm sure there are…
> sends it to earth in the form of coin You realize this doesn't actually transfer any energy, right? Assuming you're not joking, all you've done is calculate the world's most expensive sha256.
https://twitter.com/XFaure/status/1187329974723891200
This subthread in particular:
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So you're basically telling me "it's complicated"? These "incentives" you mention require general faith on the part of traders that Dai really is worth $1, and given the incredibly low liquidity of USD/Dai trading, you can stay in fantasy land for a long time. >If you can't be bothered to do a few minutes of research.. I'm not on HN to "learn" crypto, and you forget you're not on some crappy crypto forum.
You appear to be very rude to me; you asked: > And how is [DAI] pegged? Someone asked the various exchanges very nicely if they could only trade it for $1? This is a forum and people have given you pointers to answers and you are expected to do the work to study on your own. This happens a lot in life.
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The only way to find out is to watch a 20 minute video by a crypto nutter? Is there not a simple explanation for how Dai is pegged to the dollar?
If you have an adversarial mindset (which is absolutely healthy) and want to understand it well enough to not immediately come up with counterarguments whose only valid reply is "RTFM", yes, it takes at least 20 minutes. But regardless, I'll bite. DAI has a couple of intended use-cases. I will focus here on the "stable coin" asset, meaning you should be able to expect it's value to not go up or down over time. It is…
Prediction: Bitcoin will crash together with a general financial crisis / recession. People hold their bitcoin, because they don't know where else to put it right now. With low interest rates everybody is apparently doing well. If the market crashes, some people are worried, or have some assets outside of bitcoin which they have to offset. They will start to dump their bitcoin, but where is lower bound? There are no…
Crazy use for Bitcoin: mine Bitcoin in satellites with giant solar arrays, at a capacity that makes it cheaper than terrestrial mining. Since terrestrial mining no longer economical, it ceases altogether resulting in reduction of energy consumption. I.e. space Bitcoin mining captures solar energy in space and sends it to earth in the form of coin, which is much safer than beaming the energy itself. I'm sure there are…
> sends it to earth in the form of coin You realize this doesn't actually transfer any energy, right? Assuming you're not joking, all you've done is calculate the world's most expensive sha256.
Crazy use for Bitcoin: mine Bitcoin in satellites with giant solar arrays, at a capacity that makes it cheaper than terrestrial mining. Since terrestrial mining no longer economical, it ceases altogether resulting in reduction of energy consumption. I.e. space Bitcoin mining captures solar energy in space and sends it to earth in the form of coin, which is much safer than beaming the energy itself. I'm sure there are…
Instead of launching solar panels into space and getting free energy there, they could be placed on Earth to save the launch costs and get free energy here . Let's ignore that because the following is far more interesting ;) To give you an idea of the scale of the problem that such an enterprise would be dealing with: the ISS has a cooling capacity of less than 100kW and current mining infrastructure has a power cons…
Prediction: Bitcoin will crash together with a general financial crisis / recession. People hold their bitcoin, because they don't know where else to put it right now. With low interest rates everybody is apparently doing well. If the market crashes, some people are worried, or have some assets outside of bitcoin which they have to offset. They will start to dump their bitcoin, but where is lower bound? There are no…
Then open up a short ;) Keep in mind BTC is deflationary by nature and was the result of the last financial crisis/recession.