291–300 of 362 posts
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> What does Bitcoin "becoming mainstream" look like specifically? Just like your desktop computer analogy, it looks like Grandma using Bitcoin in an everyday, mundane way like paying the electric bill.
Euro and Yuan are mainstream, but I haven't bought either in years.
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> But bitcoin, for the first time in history, sets monetary policy in stone and gives all participants perfect information This is as true as saying that the United States Department of Treasury sets the supply of dollars in stone. Bitcoin is as fixed as the relatively small number of parties who run the network want it to be. If enough of them wanted to fork it, remove the deflationary model, change their rewards, e…
What would be the shared motive for any of that tho? Like considering the requirements for forking (and the likely crash / loss of value) does that not present more of an anchor than most / all fiat systems which are regularly debased?
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I just wanted to add perspective that for these cabbies and normal people it was gambling. It was not “get free from the government” it was not about convenience of digital payments or whatever crypto promise was there. For normal people it was get rich quick scheme and that is why advertising was so annoying. I agree with parent comment - in the end it never really mattered for normal people.
Though for many normal people it was also about buying drugs online which could be seen as "get free from the government" kind of thing
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Bitcoin’s value stems from its unique properties as a digital network and of its scarcity.
What would those unique properties be?
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What in particular does TSLA do that makes it worth more than toyota, honda, and ford combined in market cap?
They produced 20 times more fully electric vehicles than toyota, honda, and ford combined in 2022. Tesla produced about 1.4 million all electric vehicles in 2022 with a growth rate of about 40%.[1] Toyota:1220 (The BZ4X is the only full electric sold in 2022)[2] Honda: I don't think they sell any all electric cars right now. None on this list[3]. Ford about 65 thousand.[4] [1] https://www.cnbc.com/2023/01/02/tesla-ts…
And their inventory is growing, their backlog is shrinking: https://twitter.com/TroyTeslike/status/1609346097733828609
And you are almost for sure American. Check out how many EVs/PHEVs were sold by:
VW
Mercedes
BMW
Renault
Volvo
Chinese manufactures
Everyone is catching up to Tesla and it's going to be just a face in the crowd in about 2-3 years.
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Coinbase mining at a loss makes it more difficult for other miners to turn a profit? The profits for miners = the security budget. The chain will work fine regardless, it's just less secure.
I think the idea is that if big institutional holders like Coinbase subsidize mining at a loss, the for-profit miners become less necessary. To be clear, I'm not defending this theory, it's just the most reasonable theory I've heard. As it happens, mining is currently also subsidized by a bunch of retail investors flocking into the publicly traded miners, given that most of them are currently losing money per coin on…
I suppose it's one possible future, but I'd be shocked to hear a bitcoiner say it, since it would effectively turn a decentralised chain into a chain run by a consortium of large financial companies.
So many HODLers in this thread. For the normal person on the street, Bitcoin or Crypto never mattered. The endlessly breathless PR was irritating. Whatever happens, this wont be missed.
> So many HODLers in this thread. For the normal person on the street, Bitcoin or Crypto never mattered. Total copium from alt nerds is never ending, but the truth is neither of you know what you are talking about: Blackrock just added BTC to their $15B fund [0], which isn't much in total market-cap (despite the down market) but is a position to say the largest (and most predatory) hedge-fund sees value in utilizing…
Challenging to find reliable sources on this that actually include financial statements.
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I think the idea is that if big institutional holders like Coinbase subsidize mining at a loss, the for-profit miners become less necessary. To be clear, I'm not defending this theory, it's just the most reasonable theory I've heard. As it happens, mining is currently also subsidized by a bunch of retail investors flocking into the publicly traded miners, given that most of them are currently losing money per coin on…
> I think the idea is that if big institutional holders like Coinbase subsidize mining at a loss, the for-profit miners become less necessary. I suppose it's one possible future, but I'd be shocked to hear a bitcoiner say it, since it would effectively turn a decentralised chain into a chain run by a consortium of large financial companies.
(I also think it overestimates the power that miners have to unilaterally hard fork and have the community accept it, but so goes)
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> I think the idea is that if big institutional holders like Coinbase subsidize mining at a loss, the for-profit miners become less necessary. I suppose it's one possible future, but I'd be shocked to hear a bitcoiner say it, since it would effectively turn a decentralised chain into a chain run by a consortium of large financial companies.
I agree, but the other path I've heard proposed is for miners to force a hard fork to lift supply cap and keep subsidizing the network with inflation. I think that's even less true to bitcoin's original ethos. (I also think it overestimates the power that miners have to unilaterally hard fork and have the community accept it, but so goes)