111–120 of 209 posts
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The actual cost per transaction in Bitcoin is ~$150 now once you include both the direct transaction fee and the miner reward (inflation cost). It's an incredibly inefficient technology.
>and the inflation costs compared to the endless money printing done by the fed that still seems like a bargain. https://www.federalreserve.gov/monetarypolicy/bst_recenttren...
This post should be mostly discounted because Ray doesn't really seem to be aware of the true risk of the Tether scam, the biggest component of and risk to Bitcoin's value. For those not aware, Tether is a "stable coin" that issues tokens that supposedly represent dollars and can be used as a medium of exchange. However, it's widely suspected that Tether is unbacked and printing fake dollars and even Tether itself ha…
This post should be mostly discounted because Ray doesn't really seem to be aware of the true risk of the Tether scam, the biggest component of and risk to Bitcoin's value. For those not aware, Tether is a "stable coin" that issues tokens that supposedly represent dollars and can be used as a medium of exchange. However, it's widely suspected that Tether is unbacked and printing fake dollars and even Tether itself ha…
- "Since the way Bitcoin works is fixed" Bitcoin's work is not fixed. Since it evolves depending on the wishes of the community You only need the 51% of the network has applied the changes in order to evolve. - "limited supply they still wouldn’t be worth” I think limited supply is one of the most attractive things of Bitcoin :)
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>and the inflation costs compared to the endless money printing done by the fed that still seems like a bargain. https://www.federalreserve.gov/monetarypolicy/bst_recenttren...
Strawman argument since there are other ways to hedge inflation.
This post should be mostly discounted because Ray doesn't really seem to be aware of the true risk of the Tether scam, the biggest component of and risk to Bitcoin's value. For those not aware, Tether is a "stable coin" that issues tokens that supposedly represent dollars and can be used as a medium of exchange. However, it's widely suspected that Tether is unbacked and printing fake dollars and even Tether itself ha…
Stop presenting FUD if you don't yourself want to back it.
I think it's time to put Bitcoin on the ignore list. You will never learn anything new about it, only the same stories: 1. It's a disastrous waste of energy resources. 2. HODLers like to compare it with gold and use it as a store of value. Because of this, they will constantly make a noise about it to raise its price. 3. No one will ever use it as an ordinary currency to buy simple things. Oh, you could buy Tesla wit…
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Great to see all of the problems, past, present and future have been solved. But thanks for the link to a person who clearly has no financial stake in the success of Bitcoin, right?
Yeah, Bitcoin is great, I agree :) It seems pretty natural to me that someone who believes in Bitcoin would also purchase it.
I think it's cool too, and have ~5% of my portfolio allocated to BTC, ETH and XRP.
But I don't go around pretending it solves all of the problems of the monetary system. It's better in some ways, and (much) worse in others. I also don't dedicate my life to pumping it on social media.
>It seems pretty natural to me that someone who believes in Bitcoin would also purchase it.
If only we'd have the same mentality with short sellers, but instead we label them FUD.
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Legitimate actors like Tesla have no need for Tether. They could directly wire in their cash or use an actually legit stablecoin like USDC.
But according to you there is no real liquidity in BTC/USDC, it's all in BTC/USDT. When you do that kind of buying, you need to go to the most liquid exchange (Binance), and that uses Tether.
Keep in mind that in relationship to tether, $1.5 billion is tiny. It's only 3 days of tether printing.
> Since the supply is known, one has to estimate the demand to estimate its price. Is there any other asset we can make this statement about? That supply is 100% known and cannot change in future?
It’s not 100%. If >= 50% of the network is in agreement we can make more bitcoins, right? The limit is set in code. But that code can be altered. Let me know if I’m wrong
Changing the fixed cap would break consensus, so it can only be done with an overwhelming majority not only of miners, but also users, exchanges and merchants. (otherwise miners would mine an empty chain).