Earlier quoted context omitted.
I’m looking at this: https://bitcoinfees.co/
Wow. That site is very wrong. Their historical data is wrong too. It’s all the same value!! It’s about 100x off reality. It’s been known since 2020 that it is fiction. Bitcoinfees.net appears to be correct (1-2 sats/vB). https://jochen-hoenicke.de/queue/ Also shows vast majority in last 24 hours paid I notice that earn is also reporting way way too high numbers. The fact is you can send 1sat/vbyte right now and it wi…
Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
171–180 of 265 posts
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#172Earlier quoted context omitted.
That’s a few ex-spies that get to spend retirement in relative luxury in return for occasionally and sternly looking into a camera and making some completely obvious point, but with a lot of authority. There are more military veterans at McDonald’s, maybe even in relative terms. That doesn’t mean the Marines are infiltrating the McNugget supply. But, yea, top politicians and “the mainstream media” sometimes have simi…
We're well beyond your cognitive capabilities in this discussion if you're suggesting that a comparison between powerful ex-directors of the US intelligence apparatus landing post-gig jobs as political commentators at media organizations and "Marines" at McDonalds is apt (or even relevant).
I’ve heard better definitions of porn from the Supreme Court.
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#173I’m exhausted by cryptocurrency. There’s a kernel of neat tech innovation and a reasonable argument about monetary policy obliterated by an avalanche of greed, hype, fraud, and magical thinking.
I’m exhausted by the fiat money scam 2% annual inflation over a 40 year career amounts to 40% less earnings. Inflation is theft. Bitcoin fixes this. No one has ever explained a better solution to inflation than Bitcoin. Fiat money printing is a scam that lets politicians spend more money without directly raising taxes. Bitcoin is honest sound money with a fixed inflation policy forever that cannot be manipulated by a…
The central authority that controls the money supply might not be perfect, but I trust it vastly more than a currency with no brakes that's mostly used for speculation.
That, and I can buy a hotdog with money. Peer to peer, without it being logged into a permanent record tied to my pseudonym.
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#174So the key reason for btc adoption in El Salvador is cheaper remittance payments, I find it odd that an article that sets out to criticize btc in El Salvador doesn't even mention the original intended use case.
This may work for smaller payments What I've seen is that Salvadorans in the U.S., that have bought or sent bitcoin using their U.S. credit/cards with the Chivo Wallet App based in El Salvador, is that have been hit by 1%-3% foreign transaction fees or cash advance fees from their U.S. banks. So for some larger amounts it may end up being more expensive than a normal remittance.
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#175Earlier quoted context omitted.
Why are retailers forced to support BTC transactions if that is not a key part of the adoption?
Based from what I've seen form the rule of law system in El Salvador for the past months... That the most possible answer is that... Someone from the government tweeted or said that they had to do it on a tv interview, otherwise they would officially face fines or perhaps closures.
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#176These are interesting ideas. I like the idea that coin mining's so-called waste of electricity is creating demand for geothermal energy plants that wasn't there previously. There is an argument to be made that the reason we don't have pervasive green energy is that a) we don't need (demand) enough of power to force investment in renewables, and b) energy prices are too low to drive green tech innovation in the sector…
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#177I’m exhausted by cryptocurrency. There’s a kernel of neat tech innovation and a reasonable argument about monetary policy obliterated by an avalanche of greed, hype, fraud, and magical thinking.
I’m exhausted by the fiat money scam 2% annual inflation over a 40 year career amounts to 40% less earnings. Inflation is theft. Bitcoin fixes this. No one has ever explained a better solution to inflation than Bitcoin. Fiat money printing is a scam that lets politicians spend more money without directly raising taxes. Bitcoin is honest sound money with a fixed inflation policy forever that cannot be manipulated by a…
Also, last I checked, the price of essential good in Bitcoin, assuming the contra-factual that it were possible to buy such things with Bitcoin, hasn’t exactly been constant for 40 years.
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#178Earlier quoted context omitted.
I’m exhausted by the fiat money scam 2% annual inflation over a 40 year career amounts to 40% less earnings. Inflation is theft. Bitcoin fixes this. No one has ever explained a better solution to inflation than Bitcoin. Fiat money printing is a scam that lets politicians spend more money without directly raising taxes. Bitcoin is honest sound money with a fixed inflation policy forever that cannot be manipulated by a…
If you make 2% more money every year than you did the year before, then how does that lead to 40% less earnings over 40 years?
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#179Earlier quoted context omitted.
I'm sorry, but to me, Bitcoin sounds like a globalist wet dream. Besides, I find if wired when people use globalist like some sort of insult. As if wanting the whole world to be better and more connected is a bad thing.
“Globalist” is also often used as a codeword by antisemitists, which always raises the question of intention when you see someone using it: https://www.haaretz.com/us-news/.premium-how-did-the-term-gl...
Re: Bitcoin Failed in El Salvador. The President Says the Answer Is More Bitcoin
#180Earlier quoted context omitted.
1) Why do people buy "pro" apps to remove ads but would not do that for content on the web? Also the micro fraud argument is kinda funny since everyone knows the ad business is full or fraud and everyone somehow involved with ads pays a huge junk for this. I think micropayment is far move fraud resistant because all the bots pretending to be humans and clicking ads do not work anymore. 2) That true. but it doesn't ha…
> remove ads but would not do that for content on the web The "pro" app equivalent is existing paywalls, NYT-style. > micropayment is far move fraud resistant because all the bots pretending to be humans and clicking ads do not work anymore But different sorts of fraud are imaginable, especially if you don't confirm every single payment. If you do confirm every single payment that's probably unacceptable user frictio…
Micropayment make it possible that I can pay without subscription without giving my personal data and without some absurd premium price that is justified by the fact that I could consume other stuff for the rest of the month/year which I likely dont want.
>But different sorts of fraud are imaginable
Sure and we find solutions for these. Unlike with ads everyone should be onboard blocking and fighting the fraud. with ads however thous who dont commit it can still profit from it.
>If you do confirm every single payment that's probably unacceptable
But there are solutions for these problems. Lets say you want to watch a youtube video, it could be free for the first 10% and then ask you to confirm payment. Then it steams payment as you watch so if you stop halfway trough you only paid half the price.
>Or the copyright problem already seen with NFTs
There is no such NFT copyright problem its made up nonsense. People just dont understand what they buy usually a public price of art. So its already released when sold and people can copy or store it however they want. Its worthless just like an MP3 file of a radio hit is worthless the rights on that track however may not be worthless if the owner know how to make money from it.
>copy someone else's pages, charge for access to them.
Already possible now. Micropayments does not change anything here. People steal stuff and "sell" it. There is no technical solution for this problem.