81–90 of 302 posts
It hasnt‘t to be banned officially to be banned effectively. - Here in Germany buying and owning crypto currencies is not illegal. But try to transfer only 20k Euros from your bank account to Kraken.com to buy some crypto assets. Then you might get a letter from your bank telling you they just cancelled your bank account, without telling you why. And they will refuse to explain anything. - Trying to get background in…
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Yeah, let's destroy financial systems of governments and substitute it with a system that has 7 tps cap in which the majority of coins belongs to unknown entities (supposedly of criminal origin).
Lightning and sidechains can handle thousands of TPS. Monero has adaptive block sizes, and is estimated to be able to perform 1500-2000TPS. Privacy is a feature, not a bug. I don't want people knowing how much money I have.
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Yeah, let's destroy financial systems of governments and substitute it with a system that has 7 tps cap in which the majority of coins belongs to unknown entities (supposedly of criminal origin).
This is very misleading. Cryptocurrencies developed on 10+ year old tech, that have stayed in that state throughout may indeed have very poor tps as you state. However, this is absolutely not the majority, as that base tech has iterated both at the base level, and in the application of layers. Typical these days are tps-handling in the 1k's - 10k's, and beyond. This will only keep improving as the technology progress…
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Lol, you are not serious, are you? Oh, I get the sarcasm now. "Lightning Network" is only "6 months away", right? Wink wink!
6 months away, what? I use it on a regular basis. Before covid I could even buy beer & burgers in my city. You can get coupons for everything, many online stores accept it.
Such as...?
It hasnt‘t to be banned officially to be banned effectively. - Here in Germany buying and owning crypto currencies is not illegal. But try to transfer only 20k Euros from your bank account to Kraken.com to buy some crypto assets. Then you might get a letter from your bank telling you they just cancelled your bank account, without telling you why. And they will refuse to explain anything. - Trying to get background in…
mind sharing which bank closed your account?
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"The central bank has brought so much lira with its foreign currency reserve to try to maintain the price that it is almost running dry of any foreign currency, making the future look even bleaker." All it needs to do is stop doing that and make it clear to the market that it will no longer do that. That removes the patsy from the market and the currency will find its level. What you have to do is make lira scarce. A…
Using the phrase "Washington Consensus" just indicates you're out of touch and it makes it hard to take any argument you make seriously. The Washington Consensus was on life support by the year 2002 -- that's two decades ago -- and was completely dead by 2008 -- well over a decade ago. Making strawman arguments against things 15 years out of date doesn't make your argument look stronger.
Yet that is still how central banks operate. They are completely out of date, continuing to target inflation using interest rate movements and getting absolutely nowhere. In fact largely getting the opposite response. Everybody knows that they are making no impact, yet nobody dare point it out out of politeness. However this emperor definitely has not clothes at this stage.
The central banks haven't moved on because their operational mode is still stuck in the 1990s. Eventually one will change tack - as New Zealand did before.
Hope that is a Western one, not Erdogan.
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Bitcoin was never supposed to be capped at 7 transactions per second, there are no technical reasons for that limit to exist anymore (it was added in 2010 as a temporary measure). Until (if) Bitcoin BTC decides to scale people can use the Bitcoin Cash [0] fork, which today has ~32 times more capacity, with a roadmap to continue scaling to universal usage while keeping fees low [1]. [0] https://bitcoincash.org/ [1] ht…
I don't know who is down voting you.. But you are right. That temporary limit has been abused by a faction of people (funded by banks) trying to control Bitcoin. That's why there's a surge of other coins that have removed the limitation. And one of the reasons why Bitcoin's dominance stands below 54% today.
Personally I wish Bitcoin Cash didn't even need to exist, if BTC had scaled as it was originally planned by Satoshi Nakamoto (increasing the maximum block size before it got full). It was sad watching the adoption rate halt and then regress. Remember when BTC was becoming accepted by Steam, Microsoft, Dell, NewEgg and others back in 2015-2016? There is no doubt in my mind that if BTC had scaled properly almost every online shop and a lot of real-world shops would be accepting BTC by now (and incidentally BTC price would be even higher than it is today).
Another article about cryptocurrencies, another comments thread where I shake my head at the Cryptozealots spouting "It's the solution to everything! Resistance is futile! You will be assimilated!". I read something interesting about this behavior a while ago, if you've put money into crypto, of course you're going to be cheerleading it, nobody puts money in something expecting to lose it (oh wait... I can see the /r…
replace crypto with $TSLA or $XXXX , people will try to justify their whatever decisions
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Lightning and sidechains can handle thousands of TPS. Monero has adaptive block sizes, and is estimated to be able to perform 1500-2000TPS. Privacy is a feature, not a bug. I don't want people knowing how much money I have.
If money is opaque then it also cannot be taxed or seized by judicial process. IMO this moves further towards an aristocratic society as possession goes from 90% → 100% to the law.
If government charged a flat rate for its services, tax evasion would become impossible. One would simply show a proof of payment. This would only be ~$10k/year in US according to its current tax receipts and population. Property tax is also impossible to evade.
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Yeah, let's destroy financial systems of governments and substitute it with a system that has 7 tps cap in which the majority of coins belongs to unknown entities (supposedly of criminal origin).
This is very misleading. Cryptocurrencies developed on 10+ year old tech, that have stayed in that state throughout may indeed have very poor tps as you state. However, this is absolutely not the majority, as that base tech has iterated both at the base level, and in the application of layers. Typical these days are tps-handling in the 1k's - 10k's, and beyond. This will only keep improving as the technology progress…