151–160 of 263 posts
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BCH solved one of BTC's fatal flaws (transaction rate) but all the other fatal flaws like volatility, irrevocable transactions, being your own bank, etc. are still there.
The last 3 things you listed are benefits, not flaws. At least volatility is positively skewed. I love positive volatility. Don't you want to make money?
I just... do not understand how smart, even _brilliant_ people, the sort of people who know enough to make something like this, can look at Bitcoin... the waste, the way it has utterly failed to achieve what it set out to do[1], everything, and thinks, I know, I want to do that, but instead of blowing up the market for GPUs it'll be SSDs. Why? To get rich? It even seems doubtful to me that the people who developed Ch…
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I don't understand how a forum called Hacker News is so dismissive of an invention that should be right up a hacker's alley. Innovative, technical, cryptographic and decentralized. Cryptocurrencies feel like something straight out of a cyberpunk novel.
Because it doesn't work. I wish it worked! It does feel like something out of a cyberpunk novel. I loved "Crypronomicon." There's nothing punk about Bitcoin anymore, though. IBM, the least punk organization in the history of mankind, wants to sell you a blockchain. The promise of Bitcoin is the idea that individuals, not large financial concerns, have the power. Coinbase just IPO'd for an eye watering amount of money…
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I don't understand how a forum called Hacker News is so dismissive of an invention that should be right up a hacker's alley. Innovative, technical, cryptographic and decentralized. Cryptocurrencies feel like something straight out of a cyberpunk novel.
Because it doesn't work. I wish it worked! It does feel like something out of a cyberpunk novel. I loved "Crypronomicon." There's nothing punk about Bitcoin anymore, though. IBM, the least punk organization in the history of mankind, wants to sell you a blockchain. The promise of Bitcoin is the idea that individuals, not large financial concerns, have the power. Coinbase just IPO'd for an eye watering amount of money…
Bitcoin is not the only cryptocurrency out there.
Besides, the fact that coinbase just had an IPO doesn't mean they control bitcoin, I don't need them or anyone else to move around cryptocurrencies however I want.
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> Cryptocurrencies feel like something straight out of a cyberpunk novel. And that is exactly why I dislike it. At least among ones that I encountered cyberpunk is strongly dystopian. > I don't understand how a forum called Hacker News is so dismissive of an invention that should be right up a hacker's alley I hope that Chia dies and falls on its face before SSD and HDD will repeat story of GPU. I like to use this re…
> At least among ones that I encountered cyberpunk is strongly dystopian. Back in the day when we were sitting in dark basements with big Unix beards drinking Jolt cola, we all dreamed of living in a crypto-anarchy, becoming cyborgs with chip implants and fully submerge in the Metaverse. I guess times have changed.
Cryptocurrency, the internet, mobile devices, huge powerful corporations, Anonymous, black hat hackers, hi tech protests like DDoS, electric vehicles, shady IT security companies, Moxie Marlinspike, billionaires going into space...
Recent related threads: Thoughts on a “HDD shortage” from an industry insider - https://news.ycombinator.com/item?id=27008295 - May 2021 (106 comments) SSD makers start warning that mining products like ChiaCoin will void warranty - https://news.ycombinator.com/item?id=27001848 - May 2021 (381 comments) Chia surpasses 1 exabyte of hard drive space - https://news.ycombinator.com/item?id=26975734 - April 2021 (151 comm…
I am... Suspicious of all the chia articles popping up on HN. I have not seen the same kind of buzz happening in other crypto spaces about it. And I am also suspicious about the claims that chia is the one that is such a threat to data storage supply, considering there are other crypto currencies with a similar approach. Overall, I am inclined to say that this is a submarine and HN is falling for it. Regardless, more…
Definitely not a submarine.
I just... do not understand how smart, even _brilliant_ people, the sort of people who know enough to make something like this, can look at Bitcoin... the waste, the way it has utterly failed to achieve what it set out to do[1], everything, and thinks, I know, I want to do that, but instead of blowing up the market for GPUs it'll be SSDs. Why? To get rich? It even seems doubtful to me that the people who developed Ch…
Interesting. There are a bunch of variants, but it seems like there are three main ways of handling crypto. Bitcoin is proof of work, which of course requires a lot of electricity. Some coins, like Neo/CutCoin are proof of stake, which basically let you stake some money, which I guess you can't spend and use that to handle transactions, so instead of running mining rigs, you just stake the money and earn a return. Et…
If only someone could invent a cryptocurrency that incentivises something good instead of something harmful.
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Because it doesn't work. I wish it worked! It does feel like something out of a cyberpunk novel. I loved "Crypronomicon." There's nothing punk about Bitcoin anymore, though. IBM, the least punk organization in the history of mankind, wants to sell you a blockchain. The promise of Bitcoin is the idea that individuals, not large financial concerns, have the power. Coinbase just IPO'd for an eye watering amount of money…
That’s a weird argument, because the big guys are trying to get into cryptocurrencies doesn’t make it less punk.