11–20 of 121 posts
His "fortune" is mostly ownership of Binance which is now under the thumb of the US government. If—as widely theorized—Binance's secret ingredient is crime then it's not going to be worth what it once was.
Journalist: "What are you going to do next??" CZ: "I'm buying Disney World!"
Tbh it will be curious to see next steps.
Bitcoins are clearly negative sum game (resources used, GPUs burned, CO2 emitted, money changed hands). Wish we could do less of it.
I’m someone who doesn’t really use it, but was fascinated with it before “blockchain” became a buzzword.
edit: proof-of-work. I have been out of the loop for years :)
My next question is are there downsides to proof-of-stake, and why has bitcoin not moved towards it?
Bitcoins are clearly negative sum game (resources used, GPUs burned, CO2 emitted, money changed hands). Wish we could do less of it.
I’m just curious - if you were to try making a decentralized currency as a fun project, what mechanism would you use instead? I’m someone who doesn’t really use it, but was fascinated with it before “blockchain” became a buzzword. edit: proof-of-work. I have been out of the loop for years :) My next question is are there downsides to proof-of-stake, and why has bitcoin not moved towards it?
His "fortune" is mostly ownership of Binance which is now under the thumb of the US government. If—as widely theorized—Binance's secret ingredient is crime then it's not going to be worth what it once was.
Bitcoins are clearly negative sum game (resources used, GPUs burned, CO2 emitted, money changed hands). Wish we could do less of it.
I’m just curious - if you were to try making a decentralized currency as a fun project, what mechanism would you use instead? I’m someone who doesn’t really use it, but was fascinated with it before “blockchain” became a buzzword. edit: proof-of-work. I have been out of the loop for years :) My next question is are there downsides to proof-of-stake, and why has bitcoin not moved towards it?
The problem I always come back to is that it isn't a currency, a store of value, private, and I disagree with bitcoin's approach to decentralization. (A long list, I know. Every couple years I get the itch then rediscover all my complaints).
Attempting to create a decentralized currency based on anything other than a supply-constrained natural resource is simply a losing game as far as I see it. The currency will be based only on promises, belief, and trust. A decentralized network is more akin to a Mexican standoff, trust and belief aren't what keep everyone from pulling the trigger.
Bitcoins are clearly negative sum game (resources used, GPUs burned, CO2 emitted, money changed hands). Wish we could do less of it.
I’m just curious - if you were to try making a decentralized currency as a fun project, what mechanism would you use instead? I’m someone who doesn’t really use it, but was fascinated with it before “blockchain” became a buzzword. edit: proof-of-work. I have been out of the loop for years :) My next question is are there downsides to proof-of-stake, and why has bitcoin not moved towards it?
There are minor downsides in theory. Proof-of-stake is a bit less "democratic" and gives more voting share to those who have more money, vs. just are mining. In practice, proof-of-stake coins seem to be doing fine. The main one here is Ethereum.
The main reason Bitcoin hasn't is due to inertia and the interest for miners (who do proof-of-work) to use their democratic power to keep bitcoin invested in proof-of-work.
Earlier quoted context omitted.
I’m just curious - if you were to try making a decentralized currency as a fun project, what mechanism would you use instead? I’m someone who doesn’t really use it, but was fascinated with it before “blockchain” became a buzzword. edit: proof-of-work. I have been out of the loop for years :) My next question is are there downsides to proof-of-stake, and why has bitcoin not moved towards it?
I've also been fascinated by bitcoin but never made the leap. The problem I always come back to is that it isn't a currency, a store of value, private, and I disagree with bitcoin's approach to decentralization. (A long list, I know. Every couple years I get the itch then rediscover all my complaints). Attempting to create a decentralized currency based on anything other than a supply-constrained natural resource is…
Bitcoins are clearly negative sum game (resources used, GPUs burned, CO2 emitted, money changed hands). Wish we could do less of it.
I’m just curious - if you were to try making a decentralized currency as a fun project, what mechanism would you use instead? I’m someone who doesn’t really use it, but was fascinated with it before “blockchain” became a buzzword. edit: proof-of-work. I have been out of the loop for years :) My next question is are there downsides to proof-of-stake, and why has bitcoin not moved towards it?
Bitcoins are clearly negative sum game (resources used, GPUs burned, CO2 emitted, money changed hands). Wish we could do less of it.