101–110 of 244 posts
I'm glad. Bitcoin hasn't done anything good, except become an outlet for criminals, Ponzi schemes, gambling, and poor financial decisions.
That is just a lie. Bitcoin is an easily accessible deflationary instrument. And while it can be used for illegal things, so can USD or any other currency.
What?
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This is an important point - I think a lot of us tech people like to think "no it only exists on the internet the govt can't touch it! It's like international waters!", but then you have countries that can completely restrict or shut down the internet. As long as the infrastructure exists in the real world and is controlled by a govt, then the "imaginary online stuff" is still ultimately under their control. Even in…
Eventually efficient systems will implement zero knowledge proofs. Not necessarily because of "privacy", but because of the efficiency gains of such a system. Privacy is just a bi-product of this information theory reality.
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>Proof-of-stake is basically a fantasy [...] hand-waving. It having not happened yet is pretty good evidence of this being a fantasy. This couldn't be further from reality. Blackcoin (2014), Peercoin, Decred, etc... Eth 2.0 is running, right now, with billions in value. The whole of Eth is planned to move to 100% PoS quarter 1 of 2022.
> The whole of Eth is planned to move to 100% PoS Quarter 1 of 2022 I have heard this so so many times. ETH moving to PoS fully in X months. I'll believe it when it happens. And I'm glad they plan on making it happen cause there way too many things harming the environment already. A major cryptocurrency reducing their environmental impact is welcomed.
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That is just a lie. Bitcoin is an easily accessible deflationary instrument. And while it can be used for illegal things, so can USD or any other currency.
A "deflationary instrument" with an issuance of 6.25 BTC per block...
e.g. from this article: "India is also looking to make a framework for the official digital currency that will be issued by the Reserve Bank of India."
You can seek to block cryptocurrencies but you can't block decentralised protocols. P.S: I'm someone important at LongShort.Finance
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Why is that a problem? I "possess" nothing in digital space but get much value from it and I posses various things in meat-space that I also get value from. Moreover, I can spend my conventional money in digital space and get further use from. A "digital possess" seems a thing that doesn't improve the world in a good way.
In the 90s many people said the same thing about "being online" and "having email". Writing letters and meeting in person works just fine, they said. Crypto makes so many things so much more efficient that not having access to it will be like not having access to the internet today.
Crypto does the same things a database does, except in a much more expensive and inefficient fashion.
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That is just a lie. Bitcoin is an easily accessible deflationary instrument. And while it can be used for illegal things, so can USD or any other currency.
Ransomware couldn't be implemented with cash.