511–520 of 704 posts
Earlier quoted context omitted.
Sure, but it's being presented as a reason to be excited about crypto, so any non-crypto applications aren't really relevant here.
Sounds like you're being deliberately picky to get your point across that crypto is shit.
We know "trading stocks" is a valuable service. We're looking for a valuable service that requires crypto.
Earlier quoted context omitted.
Bitcoin is smart engineered gold. It's perfectly rational compared to the endless printing in fiat. Most engineers just accept keynesian economics because that's what they were taught. They have a narrow world view beyond their tech expertise. I saw somebody criticize BTC because they couldn't imagine using so much energy "just to secure money". I was like what you just took for granted is perhaps society's most impo…
"Smart engineered gold" is an oxymoron. Gold is a terrible platform for economic activity, because it is expensive to create and difficult to move/transact with. Just because it was the best financial technology hundreds of years ago does not make gold, artificial or not, the best financial technology for today. "Faster horses"...
Earlier quoted context omitted.
I guess to me it’s more about progression. From Bitcoin, to Ethereum, to Uniswap, there is a strong development of the early ideas and technology. This doesn’t seem like it will just stop to me. It indicates a very bright future in my opinion. Also, although I get disillusioned, I personally have come to appreciate more that the value being produced is financial. There is clearly massive pent up demand for financial…
> From Bitcoin, to Ethereum, to Uniswap, there is a strong development of the early ideas and technology. To do what useful thing, that isn't crime? > From what I can tell massive segments of finance are just money games. This is a form of that, which is a real and tremendous market. For what, except speculation and crime? What application? It's been twelve years. Crypto is almost as old as the smartphone. > A natura…
Earlier quoted context omitted.
HN’s attitude is very surprising to me. I would think that they could get very excited about flash loans, decentralized exchanges (automated market makers), daos, and other concrete innovations coming out of crypto asset projects. I think it’s mostly jealousy and a feeling that they missed the boat, so they want to see it sink. I think that because I’ve had the feeling many times. They may not realize these are early…
It's like talking to an old person about computer games. They literally see 0 value and don't get why we are all excited about it. Most feel it's a net negative on society. And yes, that's also a market that dwarfs all of its neighbors.
Earlier quoted context omitted.
You are sitting there thinking it's ridiculous on Tesla. Are you thinking it's ridiculous on Google? Or Apple? Don't give yourself a hard time :) I think the Tesla stock price is ridiculous. It's not a jealousy thing. I don't think Google or Apple share prices are ridiculous, and more people made more money out of those two. If someone makes money in a ridiculous way, it's ok to think it's ridiculous.
True. The point I was making was one about emotion in finance - when I’m making money it’s easier to ignore rational doubts, and when I’m missing out it’s easier to focus on the negatives because a little voice in the back of my head wants it to fail.
Earlier quoted context omitted.
What use is that if the servers running the rest of the game are turned off?
Most (not all) web3 games don't have a server. Just frontend interacting with a smart contract
Earlier quoted context omitted.
I'm not an economist either... but the buying power of your bitcoin goes down if people demand more of it for a given product. If USD prices rise, the bitcoin price will rise too, meaning your bitcoin wealth is affected by inflation, and you're not protected from the Fed printing money.
But the price of bitcoin is unrelated, it seems, to any real world thing. Pure speculation.
Earlier quoted context omitted.
Then I can say that I've done my research and I think it's reasonable that USD won't remain global reserve currency forever and that it's replacement won't be a governmental currency, but a decentralized one and Bitcoin would be the only reasonable candidate. Does this mean that I'm not speculating all of a sudden because I've done research and came up with a reasonable forecast?
People won't invest in a reserve currency, they will use it for trade. Anything people are buying and holding is by definition not a reserve currency. You are describing "treasure".
Earlier quoted context omitted.
I see the world transitioning to a USD central bank digital coin for currency and Bitcoin as the store of value in the future
There will likely be many national currencies, the Digital Yuan comes to mind as a major contender. A global currency increase the risk to larger scale domino effect in the economy.
see China's Evergrande crisis as an example.
Earlier quoted context omitted.
In Germany there's SOFORT, it takes litterally the time to click through the interface to transfer money. I can get money from Germany to Colombia in under a minute via n26 and transferwise. Maybe we're not talking about the same country.
Also amounts > 20000 in a weekend? How much fees do you pay on that?
Fees however, are around 1EUR