171–180 of 226 posts
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Bitcoin is useful for what? Getting around the law? For pumping and dumping?
If you don’t trust your own gov, wether because they’re a bunch of crooks or you’re doing smth fishy, it’s useful.
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Ulbrich was never convicted of a violent crime. (Though plenty of evidence did show he tried to commit murder-for-hire.) He was convicted of money laundering, conspiracy to commit computer hacking, and conspiracy to traffic narcotics.[1] For this he was sentenced to two life sentences plus 40 years. > Not to mention that all the major mining pools have voluntarily chosen to collaborate with governments on censoring t…
Sure, here is a great article by Juraj Bednar (close the slushpool people): https://juraj.bednar.io/en/blog-en/2020/11/12/how-could-regu... BTW Juraj is a great source on anything crypto-related. And from what I now there has been no resistance from the pools so far (at least the EU/US-based ones, though in China it is probably even more difficult.)
One point as a researcher working in a central bank and studying state-of-the art macroeconomic theory, is the absolute conviction that some crypto holders have that society is rotten to the core and that the financial industry (and for that matter the broader well established large cap economy) is a malfunctioning/rotten machine only benefiting the 1%. I mean reading journals on monetary policy transmission, central…
2) TFA also says the reason Bitcoin futures are contango (6 month contract costs more than 3 month contract) on the Chicago Merc is because of counterparty risk with Bitcoin exchanges. But it also says there's zero counterparty risk with the Chicago Merc. So who cares about sketchy Bitcoin exchanges when you could just buy the CME 3-month, sell the CME 6-month, roll it every month and pocket the premium?
3) We should immediately discount stories about cryptoassets from any site that can't manage to set up a TLS cert.
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It has a social network effect of people who agree that it's the store of value for the future. Your paper dollar bill has very little intrinsic value. It's just a shared acceptance.
Uh, my paper dollar is backed by the might of the US government and the US economy. It's a lot more than just "shared acceptance". Countries couldn't just switch off the US dollar reserve currency for international trade without massive economic repercussions, which is why no country or set of countries has developed a viable alternative to the dollar for a global reserve currency. It's not like China/Russia wouldn't…
No. Internal trade is balanced with target2.
Don't know if anyone else made this mistake but: author is not saying bitcoin will 50/50 collapse tonight just some night this year. > So the next time someone tries to explain to you that “Bitcoin is a store of value”, when the chances of it getting utterly destroyed overnight before the year is over are around 50/50, try not to shoot coffee through your nose laughing. EDIT: Not saying I agree with the prediction, i…
What are the odds of a 50/50 yoy event not happening for 11 years straight?
The whole "hackernews desperately up-voting any post that cast's negative light on the investment opportunity that they missed" shtick is getting old. We get it, a lot of you knew about bitcoin in 2011 and did not buy in. Now, you are seeing it rise (and fall) over and over and are frustrated that you did not buy a couple hundred dollars worth of bitcoin 8 years ago.
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A lot of the people I know who were an-cap 10 years ago are millionaires today. At least from my circle. The problem is that the money-printing people are billionaires and it is a game you simply cannot win. And frankly, these days being a millionaire is not as fancy as it sounds - you can barely get a nice 7-series + a bit above average flat and living off investments/rent would require a very frugal lifestyle.
Can barely buy a 7 series... Frugal lifestyle... Move out of the Bay Area, buy a nice house, get a Tesla model 3 performance, it’s faster and cheaper than the 7 series, and maybe reconsider what’s in your lifestyle that’s so expensive that being a millionaire is barely making it.
So, you don't quite need to live in SanFran in order to not consider $1,000,000 serious money.
Yes, I could go back to my home town of Sofia, but even there 1 mil won't take me too far (certainly not make me an all-mighty mogul, this is 100x times of capital volume away. and if we're talking about buying journos and influecing public opinion, then - 1000x of capital volume). And to be honest I envy people in urban areas such as Austin (ČR is rated ~150th in the world (between Zimbabwe and Botswana) on granting construction permits) for having a real supply-demand based housing market, where you are not getting brutally punished for wanting to raise a family.
And yes, I currently live off rent, take only gigs I consider meaningful (currently hoping to get in Fidelity IT), but drive an 8-year old 530xi and live in a rented 3-bedroom flat as I expect my BTC to grow in value quicker than real estate (as has been the case in the past 8 years). This is the frugal lifestyle I mean.
P.S. Anyway - cheers: https://www.youtube.com/watch?v=RJbgNvP47-0
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Gold doesn't have earnings releases either.
It at least is tied to a physical thing. There are then limits to how high gold can go in price as higher prices means more will come to the market to sell it because the higher prices are not viewed as sustainable. Whereas with bitcoin, it is fairly unmoored from physical constraints. There is no natural price for bitcoin. It could go up forever or drop to nothing and both are acceptable valuations that would be har…
All money, currency and assets are based on faith on the continuing demand for that thing. All the other properties are incidental.
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I would suggest gaining additional technical familiarity about block chains if you genuinely believe they are equivalent to centralized relational databases. That's just flat-out incorrect and untrue.
i bought bitcoin and understood block chains in 2013. just because someone disagrees with you doesn’t mean they are dumb. and maybe sometimes you’re the one that doesn’t know what you’re talking about