701–710 of 761 posts
Earlier quoted context omitted.
> to enjoy different political systems, or more because of unrelated things like work, family, studies Ah, pretending that "work, family, studies" don't depend on political systems is peak HN. > What if you cannot find an existing system that is open for you and acceptable enough? Life is a series of compromises
> "work, family, studies" don't depend on political systems Not strictly. Especially not if you switch four times. > Life is a series of compromises Of course it is. That's why living in a democracy and fiat system while also using crypto is totally fine.
It's splitting hairs now. Your original claim was, and I quote, "did you do so in order to enjoy different political systems, or more because of unrelated things like work, family, studies"
- Work is a spectrum between "you're forced to work at the collective farm and you don't even have documents to travel anywhere" (e.g., USSR, until about 1960s) and "move to whatever place you want and start your own company" (most of the modern world).
- Family is a spectrum between "divorce is fully forbidden, punishable, or fined" (most countries with heavy religious influences, even today) to "you're free people, do what you want". And not to mention things like child care and support, rigths of husbands and wives, rights of children etc. etc. etc.
- Studies is a spectrum between "women and/or non-believers and/or non-priviledged classes have no access to education" (really most countries until modern times, some countries even now) to "yeah, go ahead and study whatever you want" (most of the modern world).
And so on. To pretend that major things in life are not affected by politics is disingenuous at best. There's literally, right now, a huge ongoing debate in the US about healthcare (affects family) and student debt (affects studies).
Earlier quoted context omitted.
I have stopped using credit cards for two reasons: 1. My debit cards allow me to directly import transactions into my personal accounting software while my credit cards don’t; and 2. when I shop online, my debit cards allow me to use them as a 2nd factor (using a USB card reader) while my credit cards require either an iOS or Android device for 2FA. You’re right in that a credit card is a future charge and debit isn’…
Credit card transactions are much easier to reverse. For example, I went to a restaurant and a few days later I noticed they double charged the bill. I called the restaurant, they wouldn't fix the issue, so I called the credit card company and it was quickly reversed. That doesn't happen with a debit card. Credit cards also come with all sorts of benefits. You can easily get 1-2% off all purchases through cash-back o…
Earlier quoted context omitted.
You aren't insured for $650M in a bank account
This isn't a single user, FDIC insurance is for $250k per user per bank. The point is that for regulated banks that number is clear and if you exceed it you will be aware of it, and if you haven't exceeded it you have a federal guarantee to recover your money. What assurance does anyone have in this case?
It protects again bank failure. If the one's assets are drained from the bank, as long as the bank has not failed, it will have to make the account holder whole.
That's why a company would be stupid to hold $200M at Podunk Bank of Littletown, KS but is perfectly fine to hold it in a DDA account at Bank of America, Citi or Chase
Earlier quoted context omitted.
> "work, family, studies" don't depend on political systems Not strictly. Especially not if you switch four times. > Life is a series of compromises Of course it is. That's why living in a democracy and fiat system while also using crypto is totally fine.
> Not strictly. Especially not if you switch four times. It's splitting hairs now. Your original claim was, and I quote, "did you do so in order to enjoy different political systems, or more because of unrelated things like work, family, studies" - Work is a spectrum between "you're forced to work at the collective farm and you don't even have documents to travel anywhere" (e.g., USSR, until about 1960s) and "move to…
Many people move, because they are following opportunities (and of course these are also affected by politics). Some people move from A to B and back to A. Sometimes from democracies to dictatorships. It does not automatically mean that they do so, because they prefer one or the other system. Some people accept a political downgrade when they move.
I'm out of the loop and trying to understand - people lent over half a billion dollars of their 'real' fake money (ETH) to a game studio so they could transact on the studio's sidechain because gas fees are prohibitively expensive on ETH, and then the game studio got hacked and lost it all? How was this ever going to end any other way? Imagine how preposterous the idea of storing $650mm in USD in a random game studio…
when it comes to banking, random checking accounts are hacked into very rarely. to the point that in USA the FDIC is protecting your account up to $250,000. I don't recall last time seeing news on someone's bank account being hacked and drained, if anything its mostly family fraud. also there are all sorts of checks when you try to wire or withdraw more than $10,000, not to mention wire hundreds of millions. Such tra…
Earlier quoted context omitted.
> (or loss of fees when you didn't supply quite enough for the script to fully execute). Are they planning to address this in any of the updates on their timeline? This turned me off from ETH completely, just feels like a house-always-wins situation skimming money from users.
In addition to what 3np said, you can use Flashbots as your RPC node, and your transaction won't be submitted if it's going to fail. Minor note, the reason for charging for failed transactions is to prevent abuse of network resources, don't want someone submitting millions of bogus transactions to DOS the network.
Thanks for the tip about flashbots, never heard of it
Earlier quoted context omitted.
Alibaba could already avoid that need for individual transactions by just holding balances in the different currencies, like e.g. Wise and many other retail forex providers do. They only need to deal with correspondent banks for balancing out those accounts in case more money flows in one direction than the other, and those transactions are large so the costs are not as much of a concern. In any case, your argument p…
>>Most people don't have that desire, they just want the money to go from A-B reasonably cheaply, and there are existing great solutions for that except at the fringes Yes, it is for the fringes. One day Alibaba could find itself on the fringes, as collateral damage in some geopolitical dispute that locks it out of the centralized global financial system, as a result of which country it is based in. I have no idea if…
Earlier quoted context omitted.
> Not strictly. Especially not if you switch four times. It's splitting hairs now. Your original claim was, and I quote, "did you do so in order to enjoy different political systems, or more because of unrelated things like work, family, studies" - Work is a spectrum between "you're forced to work at the collective farm and you don't even have documents to travel anywhere" (e.g., USSR, until about 1960s) and "move to…
I don't disagree with any of that and you are right with that it is not "unrelated" as I worded it, but my initial point was that moving is not necessarily motivated by political preferences. Many people move, because they are following opportunities (and of course these are also affected by politics). Some people move from A to B and back to A. Sometimes from democracies to dictatorships. It does not automatically m…
"I'm moving to A because my kids can go to school there without incurring heavy debt" is influenced by politics even if it's not explicitly acknowledged. Or even if the person doesn't think it's influenced by politics.
> Some people accept a political downgrade when they move.
Yes, they do. Because the reasons may be [1] "I don't want my kids to be subjected to gay propaganda, I'm going back to the country that upholds traditional values", and this is again is influenced by politics even if it's not explicitly stated and the person doesn't understand that.
[1] I know of some people who moved back to Russia for this stated reason.
Earlier quoted context omitted.
Because the creator of crypto concept never understood why there are centralized institutions in the first place. It was so naive to think the problem was the correctness of the records and thus everyone should keep a copy of the global ledger!! I hardly if not never heard of any fraud that actually altered records held by the authority institutions and in fact, in all the fraud cases I know the records held by the a…
>> Because the creator of crypto concept never understood why there are centralized institutions in the first place. You are totally missing the point. Having to rely upon central banks was the fundamental problem being solved. > The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies…
I identify many more pressing problems than than central banks, and trying to eliminate trust as a requirement is a naive and anti-social approach.
despite the fundamental conceptual limitations of bitcoin, its genius is its memetic tendency to coopt human social dynamics and create a whirlwind of FOMO and greed. It actually highlights what our actual problems as a global society are, and less trust is not the answer.
I personally would start from a different point of view. Given that privacy is impossible, and it is futile to try to support the illusion that the world is a limitless and open system, we should double down on trust, and create systems that make it easier to discriminate between actors as more or less trusted, and which improve our ability to reach consensus and maintain it. Systems which make trust more secure.
unfortunately these solutions are unlikely to be embedded in computer networks, but in my opinion will arise from genetic engineering.