321–330 of 1001 posts
In a way, buying Bitcoin is a bet on the timing of quantum computing.
Interesting comment! Note that there are cryptographers out there working on blockchains that are quantum resistant: David Chaum for example and its "xx" blockchain (which is still in beta but already has a few hundreds nodes running).
I don't understand all the Crypto hate on this site. Since when have hackers become the luddites to new ways of finance?
Most of crypto growth has been pure speculation/ crypto2crytpo related services/morally questionable uses.
Positives * ...
Sort of positive/sort of negative:
Evading capital controls
Being your own bank..
Big Negatives:
* POW energy use - huge one
* POS stakeholder issue
* Hard to use for Joe Sixpack
* Promotes speculation for speculation's sake(I'd say 90%+)
* Instead of Central Reserve Bank you have very shady stablecoins run by select few individuals - ahem Tether and not only Tether
Maybe someone can educate me on benefits of DeFi for a regular human being?
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Our biggest environmental footprints as individuals are heating and cooling. Having an electric car is nothing compared to it. Take one intercontinental flight and again, having a fossil fuel car for a year does not exceed the emissions of that flight. http://www.withouthotair.com/ Legitimizing Bitcoin has nothing to do with the environment in the large scale of things. It's like saying that you need to optimize fast…
Are you basically saying that going from fossil to electric vehicles won’t make a big difference?
https://www.epa.gov/greenvehicles/fast-facts-transportation-...
So if every personal vehicle on the planet was an EV charged by a renewable energy source, we would cut GHGs by ~17%
Cryptocurrency is a blind spot where Hacker News’ normal optimism towards innovation has disappointed for a decade. May this thread be one we can reference years later as another example of “our collective opinions can be very wrong about technologies that were transformative in hindsight.” Innovators, follow regulations and go for it. Don’t let the HN crowd get you down. Few of these commenters have ever been unbank…
What exactly is the bull case for bitcoin? I have not seen it clearly explained. I’ve got an open mind. In more specific terms you mentioned the unbanked. How does crypto solve the problems that leave them unbanked?
Then obviously Bitcoin would be extremely valuable and useful.
Legitimizing Bitcoin more than offsets the environmental benefits of electric vehicles.
Bitcoin uses as much electricity as Chile and a single transaction has the same carbon footprint as ~700k Visa transactions. This may also be underestimated and account for around half of global data centre energy consumption as per a recent study. [1] [1] - https://digiconomist.net/bitcoin-energy-consumption/
It seems that Google only uses 10.6 terawatt hours.
https://www.google.co/search?q=google+total+power+consumptio...
Add Facebook's 5.1 and you get the amount of power required to kill half of the planet's productivity.
[Edit] typo
Cryptocurrency is a blind spot where Hacker News’ normal optimism towards innovation has disappointed for a decade. May this thread be one we can reference years later as another example of “our collective opinions can be very wrong about technologies that were transformative in hindsight.” Innovators, follow regulations and go for it. Don’t let the HN crowd get you down. Few of these commenters have ever been unbank…
What exactly is the bull case for bitcoin? I have not seen it clearly explained. I’ve got an open mind. In more specific terms you mentioned the unbanked. How does crypto solve the problems that leave them unbanked?
Jan 2021 - Spends 30% of raised money to buy Bitcoin
What value are Tesla adding here? Those investors could have just put 70% in to Tesla and 30% in to Bitcoin directly.
Arguably, the only positive here (for BTC and TSLA holders) is short term, and it's that Tesla are associating their brand with Bitcoin to whip up froth.
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Why has gold prevailed over thousands of years while almost all fiat currencies went to 0?
Gold stores value but it hasn’t really appreciated. Whereas the claim for bitcoin is that it will soar in value. Why? Warren Buffett said it best on gold. It just sits there. Here’s one quote I found. In another he compared buying gold in 1900 vs us stocks. “ I will say this about gold. If you took all the gold in the world, it would roughly make a cube 67 feet on a side…Now for that same cube of gold, it would be wo…
Earlier quoted context omitted.
What exactly is the bull case for bitcoin? I have not seen it clearly explained. I’ve got an open mind. In more specific terms you mentioned the unbanked. How does crypto solve the problems that leave them unbanked?
Bitcoin unleashes a million possibilities and overall guides the market. Check out Ethereum, Polkadot and Cardano if you want to see a real use case - Until then the usecase for bitcoin is the same as gold. But one day Bitcoin will pour it's 'Gold' Into the broader crypto market.