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I'm sorry, what applications? Besides accelerating global warming there doesn't seem to be anything it's good at.
Commerce.
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Commerce.
To be entirely clear, a company I work with accepts Bitcoin, then ships physical products.
If it's an investment, no more than 30% of your net worth should be wrapped up in one investment. If it's a currency and you're happy if the price takes a plunge.
It seems to me, as long as the price fluctuates, I would prefer cash because I would be able to buy BTC during the dips.
Another day another “stay away from bitcoin” post on HN
The anti-Bitcoin sentiment on HN is frankly baffling to me. It's one of the most exciting things happening in tech right now, and HN is at best ambivalent and at worst openly hostile to Bitcoin. Why wouldn't the tech crowd be excited about digital native money which is perfect for the Internet? Look at what's happening around the ecosystem with the Lightning Network, Impervious.AI, RGB etc. https://rgb-org.github.io/…
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> This is not the case with gold. Silver, platinum, palladium, rhodium, copper... Just as people have generally centered around gold, people have so far generally centered on Bitcoin. There's a great deal of other metals and a great deal of other cryptocurrencies, but if nobody really cares about them, then they are not relevant to the conversation.
You can't make new rare elements out of thin air though.
A lot of the "Common Objections" relate to the REASONS people choose to own Bitcoin and how those cases make it a Ponzi. There are many different reasons to own Bitcoin, however the author seems to only view it through the lens of someone living in a wealthy and developed country with financial stability. The properties of it being difficult/impossible to confiscate and its privacy make it valuable in oppressive regi…
"Bitcoin privacy" is a contradiction in terms, as has been repeatedly proven. You set up a scene of a refugee "storing their wealth in Bitcoin", but it begs the question: where are these refugees with substantial wealth they are looking to exfiltrate? Typical refugees are emigrating from locales where they were earning dollars per day. The use case of shielding hoarded wealth during a journey to a freer locale is a b…
A very privileged thing to say. Do you think there are not wealthy people trying to escape the Wests' wars?
I think this is simplistic. It’s viewing Bitcoin through a lens of a traditional Ponzi scheme assuming people that trade their fiat currency for Bitcoin are investing, with a view to one day take profits back into dollars. What if people are seeing discussion of minting a trillion dollar coin, trillions in QE, 25% of all dollars created in the last 12 months…and concluding that fiat currency is in an endgame and they…
Quantum computing is going to bring this entire house down. Money without an army is just paper. Or, in this case, imaginary numbers. There will be no one to cry to when the machines start cracking all the hashes and wipe away the entire ecosystem. I'd wager the NSA already has this capability, but they won't blow it on something so stupid.
https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin#Mit...
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The crucial difference that excludes Bitcoin (and any other such blockchain currency) is that a Ponzi scheme deceives investors by pretending it is profitable and the profits are derived from legitimate investments. Bitcoin et al. does not do this; there is no deception, no fraud and, therefore, no Ponzi.
Wait what? Are you saying you don’t get spammed by people who tell you it’s going to the moon?
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Why specify non-currency? Doesn't Bitcoin provide a more convenient/less expensive way to send money between countries (or both). Those are pretty powerful uses. (I don't know money laundering and drug dealing are still more convenient in Bitcoin)
> Doesn't Bitcoin provide a more convenient/less expensive way to send money between countries The current bitcoin transaction fee is more than 100x what my bank charges, so no, not really.
A bitcoin transaction is settled as soon as the block is mined. Without any third parties or trust involved, and no way to reverse the transaction. While a bank transaction could settle in days and always with some trusted third party.
Try making a transaction over the lightning network (layer 2 tech of bitcoin), it’s instantly settled and almost for free. The whole country of El Salvador is making transactions within the country using this technology and they’re getting remittance from outside the country far cheaper than banks.
> Stocks have an external source of revenue, namely the profit that the company makes by selling its products and services to customers Hahaha somebody let GameStop, Tesla, and Virgin Galactic know about this rule.