271–280 of 394 posts
Earlier quoted context omitted.
Yes that'll show those checks notes professionals. The IMF is of course the entity who had to bail out the entire country of Albania when they all got into a massive ponzi scheme, jailed their finance minister and had a civil war over it.
"Professionals." That's a funny way to define criminals.
Earlier quoted context omitted.
Well if you include the fact you have to pay 1-2% to an exchange to move USD->BTC, and your $0.50-60.00 transaction fee then wait a day or so, and deal with astronomical FOREX risk in the meantime (like today's 30% instant drop in BTC) suddenly Western Union doesn't look so bad. Especially since Western Union actually hands you cash which you have to get out of one of the Bitcoin ATMs that eats 20% of your withdrawal…
What exchange are you using? A major exchange like Kraken charges ~.25% for small traders and lower for bigger ones. You can also buy face to face from someone; if you're lucky someone may need to dump some coin and be willing to trade at par with market. If I'm an el salvadoran with no documentation in the US I can send my $15k wages for like $40 to any individual in El Salvador (who can now use it as currency once…
Earlier quoted context omitted.
Yes, let's all surrender to the criminals. Embrace the inescapable mad-max future. Maybe the Sicilians should run for office in Italy?
Is civil war forever really the best policy? At some point it makes sense to realize war is costly, both in terms of lives and the economy. When is it time to just try to make the best peace you can?
Earlier quoted context omitted.
How do you reach that number? (CO2/block) / (transactions/block)? I imagine these transactions are being done over the lightning network or something like that(I could be wrong on this though), in which case that calculation wouldn’t give the right answer. In addition, I think I would evaluate the CO2 costs per transaction based on the contributions to the mining reward (because this is the part of transaction which…
Check the numbers. Bitcoin is just not worth it's ecological footprint: https://digiconomist.net/bitcoin-energy-consumption
I think the assumption that there will be no innovation in this space, optimizations will never decrease the amount of computing resources required for a bitcoin transaction, and nothing can be done, is probably incorrect.
Some prospects:
https://en.wikipedia.org/wiki/Bitcoin_scalability_problem#Ef...
Earlier quoted context omitted.
https://bitinfocharts.com/comparison/bitcoin-transactionfees... https://ycharts.com/indicators/bitcoin_average_transaction_f... https://www.blockchain.com/charts/fees-usd-per-transaction
https://mempool.space/ https://bitinfocharts.com/comparison/bitcoin-median_transact... And considering I use Bitcoin frequently, and I'm constantly, on a weekly basis sending on chain for 5 cents, 10 cents max. I'm in within a couple blocks, every single time. You are straight up spreading FUD.
By your own sources your original claims don't hold up. So much for "100% BULLSHIT". Please stop with the zealotry, it makes the entire space look foolish.
Earlier quoted context omitted.
> Completely wrong. Go run a testnet yourself and you will see. If you imagine that a laptop has enough hashrate to mine all the world's transactions in realtime, then how do you explain to yourself that the actual Bitcoin network is only able to add a few hundred transactions per second to the chain? > The difficulty adjusts automatically. The energy usage comes only from the competition aspect - people are competin…
I am struggling the follow the argument through the comment chain. Energy is used to secure the chain via mining; a secure network is required to be a payment system, but the energy usage is not from processing transactions. Originally the discussion is about people "using Bitcoin to pay for their McDonalds". Then the commenter erroneously stated, in response to that, that a "bitcoin transaction uses the energy equiv…
Earlier quoted context omitted.
> That's a drop of 24% in purchasing power. No, it's not, because purchasing power doesn't scale linearly with M2 money supply.
It's a drop relative to what it would be if the money supply had not increased accordingly, not versus what the purchasing power was at that point in time.
[0] https://www.commonfund.org/blog/chart-of-the-month-money-sup...
Earlier quoted context omitted.
Yea, best to troll on Twitter than fix your country that has the literal highest homicide rate in the world. Murder good for Bitcoin?
A middle finger to the IMF sharks is a good start to fix a country.
Earlier quoted context omitted.
https://bitinfocharts.com/comparison/bitcoin-transactionfees... https://ycharts.com/indicators/bitcoin_average_transaction_f... https://www.blockchain.com/charts/fees-usd-per-transaction
https://mempool.space/ https://bitinfocharts.com/comparison/bitcoin-median_transact... And considering I use Bitcoin frequently, and I'm constantly, on a weekly basis sending on chain for 5 cents, 10 cents max. I'm in within a couple blocks, every single time. You are straight up spreading FUD.
> The fees on Bitcoin, on chain, have been less than 75 cents the entire year of 2021.
The average transaction fee on April 21st was $62.779. You are wrong.
> The average tx on chain the past 9 months has been about 10-15 cents.
Clearly wrong. The data you cite is the median transaction fee, not the average transaction fee. For the lowest median transaction fee the chart shows 22.9 cents. Even that is above your claimed 10-15 cents.
Good for you that you spent less on your transaction, doesn't change the data though.
Earlier quoted context omitted.
A middle finger to the IMF sharks is a good start to fix a country.
> A middle finger to the IMF sharks is a good start to fix a country. On the one hand, I’m no IMF fan and appreciate how that abstractly could be part of the beginning of a better fix than typically comes of working with the IMF. On the other hand, in practice it seems usually to be part of a flag-waving, nationalist, foreigners-are-the-problem distraction for regime leaders implementing either looting the country or…