91–100 of 164 posts
Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.
at some point folks are gonna realize that the web was far more useful in its first ten years than bitcoin was in its first twenty.
Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.
at some point folks are gonna realize that the web was far more useful in its first ten years than bitcoin was in its first twenty.
Earlier quoted context omitted.
I recently used this analogy to describe why I’m bearish on crypto. When Netscape Navigator was released, it was clear and obvious this was the future (and if anything, underpromised based on where we are today). Within 4years of Navigators release, I was making my fulltime living building websites. The iPhone was another immediate “this is obviously the future” technology. 13 years into Bitcoin, it’s still not obvio…
That's because browsers and phones do not disrupt the whole banking system and the way we think about money. There is a tremendous amount of push-back on cryptocurrencies coming from very influential places that stand a lot to lose.
I keep running into the issue that blockchain seems to have very few legal uses that a centralized database isn't better for. Remittances seems to be the best use case with actual usage. But that doesn't really need anything. Every thing else seems like tech demos with no real world application or ways to do illegal things more efficiently. Is there a use case someone really likes that blockchain seems like the best…
Maybe Bitcoin is Netscape and we're still waiting for Chrome. It's still so, so early.
I always thought of it as Bitcoin being MySpace and we’re waiting for Facebook, then maybe Instagram and WhatsApp (pre-acquire). Etherium seems like it could be one of those if POS or something else can make transactions a reasonable price
It was never in any danger of becoming the future of money. The entire power of a modern market democracy rests in the ability to control its currency. If you remove that power, the state itself has no legitimacy. Bitcoin was never ever going to be blessed as an alternative to the USD, no matter how much sense it made on paper. Bitcoin is a pure sentiment asset. It rises when people think it should rise, and falls wh…
State monopoly over money is a good thing or a bad thing?
> If you remove that power, the state itself has no legitimacy.
We've had "legitimate" states since the dawn of time, before fiat currencies. Many kings and republics ruled and minted coins, but they were always limited by what they had, and could not arbitrarily create more.
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A single bitcoin transaction uses roughly 707.6 kilowatt-hours of electrical energy–equivalent to the power consumed by an average U.S. household over 24 days, according to Digiconomist https://www.forbes.com/sites/jonathanponciano/2021/03/09/bil...
And who is to blame for so few transactions fitting in a single block? What is the energy consumption of the petrodollar-backed wars in the middle east? Presenting numbers without discussing the alternative is sophistic misdirection.
Bitcoin can't die soon enough. The initial idea and the ideology behind it is really admirable, but it was done as a proof of concept and failed terribly. But instead of "alright, PoC done, does not scale, let's move on to something better", too many people can't or don't want to move on because there's too much money on the line. I find it personally exhausting - I had a coworker until recently (he left) who was a s…
It's funny to me that you think its failed terribly, but it consistently grows year after year in adoption and value. The irony of this crowd especially having hindsight with the development of computers and the internet; being able to see what 90s internet looked like compared to today. The Bitcoin network does exactly what it functionality sought out to do. The human speculative layer on top of it is what's confusi…
If only everything would fail this badly everyone on this board would be a billionaire…
Earlier quoted context omitted.
I’m sad to see HN become a place where people pat each other on the back for “burns”. (And I think GP makes a good point.) edit for context: parent originally started with “BURN!” before edit
Fair, this isn't reddit. To explain the derision, I don't think the GP makes a good point at all, as crypto-adherents pre-suppose that there's a common acceptance that blockchain currencies are an internet-level breakthrough. Linked lists are useful. Merkle trees are useful. Blockchain currencies haven't so far proven a single use case they perform more usefully than existing systems. All that the ICO craze, the NFT…