141–150 of 350 posts
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Well if you need to send someone a sum of money instantly anywhere in the world for no fees, it’s kind of unrealistic to meetup with gold bars
Indeed, when I wanted to send $2000 across the US-Canada border in 2021, I found to my surprise that doing so with BTC within Coinbase was the cheapest option.
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It definitely has utility but it is at the same time overhyped IMO. Some examples of utility: 1. Cross-border transfers without needing permission from banks or identification 2. A fungible digital asset you can hoard and nobody can physically take from you if you secure the keys. 3. If you are a business in a gray or black market industry, you can accept payments from customers online without needing permission from…
It isn't fungible at all since every coin has a history which in some cases makes it unspendable, so it is highly risky to accept transfers without a third party chain analysis report, otherwise i agree
Probably most CEX don't allocate UTXOs upon buying, but only for withdrawals
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You’re right, but that’s not what BTC was designed for. You could use something like Litecoin, Solana, maybe even Ethereum if you’re willing to pay the fee.
The whitepaper shows it was intended to be "peer to peer electronic cash". It did clearly fail at that goal since it has none of the privacy of cash and so on.
You can use bitcoin completely/as anonymously as cash if you wanted to, the same way you’d have to put in a bit of effort to have a completely anonymous cash transaction.
Monero (XMR) which is a fork of bitcoin, is much closer to actual cash
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Bitcoin is a store of value. Nothing more or less. DAOs and NFTs were just distractions trying to ride the wave. The fundamentals remain strong. It really hasn't changed much in 15 years. The Hacker News comments certainly haven't either. Salty as ever.
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Polymarket, Bitrefill, Stake
Gambling, money laundering, and more gambling. This is just a repeat of all the companies that promised people could get rich using them, then the price collapsed and they all died.
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Its utility is similar to that of cash. But unlike cash it's (1) less fungible (2) much easier to transport (3) harder to secure from theft and/or destruction * (4) value is more volatile than USD/EUR/CAD/AUD (5) incredibly resource intensive to maintain (and growing!). It's not an equity, it's a currency. The Bitcoin network is nigh "indestructible" as long as some folks still consider it useful. This delivers credi…
Show me an economy that only uses bitcoin and doesn’t depend on cashing out to one fiat currency or another and I’ll allow that it’s a currency.
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> How? People say Bitcoin is worth $100k but what they actually mean is it's worth 100,000 "USDT", because that's the thing you can actually exchange for it. Are those 100,000 "USDT" worth $100k? Well, maybe. Tether claims every USDT is backed by a US dollar. It just can't tell you where they are or let you audit them. But they're there. Honest. > And why isn't that being shorted? How would you short it? Especially g…
Tether is bad but these aren't correct arguments against it. 1. You can easily sell BTC for 100K actual USD and ACH it out on a regulated exchange like Gemini. 2. You can easily sell USDT for actual USD on (IIRC) Kraken. 3. Technically you can short USDT via various means but you won't be able to collect any profits.
You can until you can't. As long as people think 1 "USDT" is worth $1, and as long as the amounts you're selling aren't too big, it stays afloat.
> 3. Technically you can short USDT via various means but you won't be able to collect any profits.
How? If my thesis is that USDT is going to collapse and bring down the whole cryptocurrency ecosystem, what can I buy to express that and profit on it?
Important to remember that while income and wealth inequality is at record highs, the trillions of dollars injected into the economy are still floating around among the top. People are getting more and more creative with investments (see luxury watches, sneakers, trading cards, collectibles, meme stocks all seeing a significant bump in value in recent years). Bitcoin's price is simply another symptom of this. What I…
Don't forget the funding of North Korea and organized crime.
Important to remember that while income and wealth inequality is at record highs, the trillions of dollars injected into the economy are still floating around among the top. People are getting more and more creative with investments (see luxury watches, sneakers, trading cards, collectibles, meme stocks all seeing a significant bump in value in recent years). Bitcoin's price is simply another symptom of this. What I…
That hype is nothing compared to the current hype, the idea that the US Government is going to buy a significant amount of Bitcoin to create a "strategic" reserve.
Every hype cycle gets bigger and bigger even as past ones never amount to anything