271–280 of 1001 posts
In the hypothetical case that a Bitcoin ETF gets hacked and its wallet(s) emptied, what happens? Is it any different from, say, a gold ETF having its physical gold stolen?
and what would happen during/after a fork?
They just sold the coins on the inferior chain and gave a one time dividend.
The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…
I work in architecture and year after year the industry is pushing to squeeze every last bit of energy efficiency out of everything. Meanwhile bitcoin is like “BURN SOME COAL TO ACCOMPLISH LITERALLY NOTHING USEFUL! AND KEEP DOING IT FOREVER!”
And the crypto people will always bring up “Mining gold just to make gold bars is a waste of energy too” but guess what I don’t buy gold bars either.
Nothing has stopped the damn thing. It's always there.
It's one of those things that just keeps on existing, like gold.
It doesn't care what you think. It doesn't care whether you like it or not. It doesn't care if you understand it. It's just always been there.
Might as well make it easier for people and companies to own it and trade Bitcoin, and for governments to tax profits on it.
The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…
It's hard for humans to put ego aside and admit they were wrong. Also hard to put emotion aside and forget the pain of missing out from $100 to $45k. I think there's still an easy 10X to match Gold and 100X is possible if it becomes the world's preferred reserve asset
Bitcoin may go to a billion and it won't change the fundamental premise:
You can have ALL the Bitcoin in the world, all of it, and if there's no buyer outside, nobody willing to trade anything for it you have nothing.
Now use the same argument with all the land in US, all the crop in India, all the fish in the Pacific, all the gold in Russia, all the wine in France, all the bakeries in Palermo, all the cars in Sydney.
You farm, you eat, you can make jewellery and tech, you drive.
And yes, it applies to US dollars too (albeit to a minor extent). If nobody wants it you can just stare at dead national heroes on paper, or burn it idk.
Wealth does not come from money, and of all the money, you choose to speculate on the exchange price of a virtual one.
The premise will never change and crypto cultists keep fooling themselves and finding many weak and illiterate to join their ranks.
But any price movement will not change the fundamental issue.
Satoshi's dream of a decentralised ledger finally reaches its ultimate form of a centralised list maintained by the DTC. Rejoice!
Earlier quoted context omitted.
I do it every week. It's free (Zelle), or it's incredibly cheap. It has predictable cost and timeframe, too, unlike Bitcoin, with no customer service and no way to remediate errors and fraud! So, even if I pay to the banks, it covers people and insurance - unlike with Bitcoin, which just burns fossil fuels so that Chinese miners can get richer and richer stealing subsidized electricity!
That's like Robinhood users telling me they pay zero trading fees. Then how does RobbingHood make money? Think about it, running an exchange has costs. I really don't understand how people can be so easily tricked by "free" offers that are actually more expensive when you do the math. PFOF (i.e. legal theft), unfavorable spread, etc... They get their money one way or another. It can technically make sense when you're…
The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…
No one really trusts bitcoin. And that's on of the big bitcoin problems.
Also, it doesn't live up to any of it's hype. But others have enumerated all of those faults.
Earlier quoted context omitted.
At least with stocks you actually own cash flows. Cryptos produce nothing.
Ethereum has a perpetual buy back mechanism via burning and staking currently gives about 2.7% a year without MEV
The strong anti-Bitcoin sentiment on HN is still amusing. It goes way back - 13 years or more. Having read many of these negative comments, I think part of this sentiment boils down to the commenter seeing no point to Bitcoin. Just this thread has examples. It must be more than a little annoying to feel very strongly that Bitcoin is pointless, but to also notice that it's still here. Year after year. If that shoe wer…
What needs and wants is it fulfilling for you?
Satoshi's dream of a decentralised ledger finally reaches its ultimate form of a centralised list maintained by the DTC. Rejoice!
Cryptocurrency still works the same as it ever did. I would be more concerned that the average bitcoin transactions costs over $11 dollars (down from over $37 USD a month ago) https://bitinfocharts.com/comparison/bitcoin-transactionfees...
Also, bank transfers aren't cheap. For example, in Costa Rica, to transfer any amount from an account in bank A to another account in bank B, you pay a fee in the range of 1$-3$, irrespective of the transferred amount. If you consider transfer across countries, then you enter into 50+$ transfer fees.