91–100 of 992 posts
> Hal shipped the prototype because he had just been told he had a terminal illness. That's from Phillip Hallam-Baker. Is there evidence Hal was Satoshi, or is this just more speculation? Or am I misunderstanding his response?
That’s nonsense. Bitcoin is as good a store of value as gold due to one unique feature: scarcity. Actually, it’s even less power consuming than the gold industry and is much more transparent. I wouldn’t really advise bitcoin for anything else, like day to day transactions, although I and many of my friends have used bitcoin to transact on dark markets and it works. The only argument I’ve heard about gold being better…
Jade however is actually without any industrial application and is purely valued for it's scarcity.
>The scarcity of block chain space has led people to re-invent every last feature of the banks they thought they were going to be escaping. This is a pretty funny point because every time I go on twitter and see people talk about crypto, what they're essentially having is a discussion about public policy, and often they seem to try to reinvent institutions that already exist without even knowing it. From market-maker…
I don't see the irony. The point is that Bitcoin has introduced an actual "digital cash" currency without institutional/governmental middlemen. That institutions can be built on top of that, and that some people want such institutions, doesn't change the novel utility of finally having a currency that functions like digital cash. It's like saying it's ironic that people use physical USD for anonymous p2p transactions…
The emergent cartel of miners becomes that.
bitcoin is a store of value against inflation
>The scarcity of block chain space has led people to re-invent every last feature of the banks they thought they were going to be escaping. This is a pretty funny point because every time I go on twitter and see people talk about crypto, what they're essentially having is a discussion about public policy, and often they seem to try to reinvent institutions that already exist without even knowing it. From market-maker…
I don't see the irony. The point is that Bitcoin has introduced an actual "digital cash" currency without institutional/governmental middlemen. That institutions can be built on top of that, and that some people want such institutions, doesn't change the novel utility of finally having a currency that functions like digital cash. It's like saying it's ironic that people use physical USD for anonymous p2p transactions…
And the reason behind that is obvious. Something whose value may double in a month or whose value may halve within weeks is a terrible currency.
If I expect it’s value to increase then I would be a fool to spend it. If I expect it’s value to drop I would be a fool to accept it.
Cryptocurrencies are anything but currencies.
This is written from the perspective of a person who believes in blockchain-based currencies but thinks Bitcoin as an implementation of said currency is a failure. He thinks the concept of mining is a fundamental flaw. But he keeps the door open for different implementations. Personally, I think the whole concept of blockchain-based currencies is flawed. But let’s not go there right now. The value of Bitcoin is very…
Related: the current rise of Bitcoin prices has been peculiar to me, and seems to be a bit of a canary in an inflationary coal mine. We've injected trillions of dollars of fiat into the economy this year. It feels like the sky-high valuations of technology companies and Bitcoin are "shock absorbers" of sorts, or early signals of inflation-yet-to-come. If we assume the market is efficiently pricing these assets (like…
BTC prices have approximately zero relation to inflation in the real economy (for whatever definition of that you want to use). Rising BTC prices are driven by pyramid scams, fraud, and speculation. There is no useful signal here related to anything else.
Earlier quoted context omitted.
Why do you believe there should be no capital gains on it?
because you can't use it as a money if you need to pay capital gains on every stick of gum you buy. they should find other ways to collect taxes that doesn't inhibit it.
Earlier quoted context omitted.
I don't see the irony. The point is that Bitcoin has introduced an actual "digital cash" currency without institutional/governmental middlemen. That institutions can be built on top of that, and that some people want such institutions, doesn't change the novel utility of finally having a currency that functions like digital cash. It's like saying it's ironic that people use physical USD for anonymous p2p transactions…
What's "digital cash" in this context? What does it offer extra compared to regular cash and online payments?
Of course, as Bitcoin currently stands, it's difficult for this to come to fruition because most holders are speculators rather than people interested in using it as currency.
>The scarcity of block chain space has led people to re-invent every last feature of the banks they thought they were going to be escaping. This is a pretty funny point because every time I go on twitter and see people talk about crypto, what they're essentially having is a discussion about public policy, and often they seem to try to reinvent institutions that already exist without even knowing it. From market-maker…