161–170 of 501 posts
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I'd say stop storing your spending money as btc, it's an asset not cash. Can you liquidate your 30$ peice of gold in < 4 hours for market value? Probably not.
Yes, a "currency" should be treated as an asset, not cash. The pro-BTC arguments are becoming absolutely inane
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Use a different cryptocurrency. Seriously. And I'm not trying to be cheeky. If Bitcoin ends up only being a settlement layer, it'll still be a colossal success just being a decentralized, supply-limited, uncensorable, world-accessible payment system and store of value. If someone else solves the scaling debacle better, I'll be the first to recommend that normal people switch to it. But it's not easy, and the world is…
This sounds a hell lot like changing the goal posts.
Off Topic: Is anyone else creeped out by having an open ledger? As soon as I transact with someone or an entity, they now have access to view my wallet's holding/transactions via pub key. I don't know how I feel about Overstock having that information.
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Use a different cryptocurrency. Seriously. And I'm not trying to be cheeky. If Bitcoin ends up only being a settlement layer, it'll still be a colossal success just being a decentralized, supply-limited, uncensorable, world-accessible payment system and store of value. If someone else solves the scaling debacle better, I'll be the first to recommend that normal people switch to it. But it's not easy, and the world is…
the velocity of money increases price, look at how the price of litecoin is rising when bitcoin mempool is congested, if Coinbase didnt play politics, Bitcoin Cash will be pumping right now too, decentralized exchanges are coming though in the coming years it will change the whole market dynamic
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This sounds a hell lot like changing the goal posts.
Oh it absolutely is. I'll acknowledge that. If Bitcoin is amazing at 7/12 of the things it set out to do, and sticking to those seven will pave the way for the other five to be done by other cryptocurrencies, that's fair to me.
Others here are touching on Bitcoin being like the "1.0" of cryptocurrency, but it's actually a lot more than that. In the public eye, it's a symbol of what cryptocurrencies can be. You're suggesting Bitcoin just proved it can't scale, but it actually just proved it did--just not with transaction volume. The network continued to process transactions averaging one block every ten minutes exactly as it was built to do,…
We already know at least 2 obvious ways to improve the transaction flow rate of bitcoin in trustless ways, and many others are being proposed that do not also create energy arms races.
Please don't redefine success.
As engineers and technologists we must always be mindful of our impact on the planet. Bitcoin has been a disaster when it comes to environmental concerns. It is a shadow on techs efforts to lead the way toward a sustainable future. We need to figure out a way to solve this issue, especially if cryptocurrency utilization is to increase, in particular through Bitcoin: Bitcoin uses about 32 terawatts of energy every yea…
terawatt is a unit of power, not energy. You probably meant 32 terrawatt-hours every year.
Instead of converting to energy per year, I would just say that bitcoin consumes a few (between 1 and 10) gigawatts of power. That way you can compare to power plant output to get a sense of what that means.
IMHO (because to claim to "know" anything about how this is all going to turn out is to be a fraud), Bitcoin is the proof of concept for this whole crypto thing. It was the first. It was the genesis idea. But good lord, do we think it's the actual solution? What would be the odds? I imagine that Bitcoin will play its part as the public face of the blockchain revolution, but something else - or many other somethings -…
> Bitcoin is not the technically best solution in this incredibly exciting field. It's not even close. Just curious here: What would you say are technically better solutions than bitcoin?
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> it'll happen because Bitcoin is not the technically best solution in this incredibly exciting field Not only that, but it's shown that it doesn't have the ability to make the changes necessary to innovate and stay current.
It has evolved to be a store of value and it's doing an amazing job at that. Thinking from the perspective of the developers (many of whom have very large amounts of BTC) a slow and deliberate rate of changes is a very good thing. Making a mistake here would mean hundreds of billions of dollars would be lost. I am all for other cryptos moving quickly and breaking things to test out new ideas. Who in their right mind…