31–40 of 120 posts
The woman mentioned in the article mentions she first heard about bitcoin watching keiser report on RT. Out of curiosity, I did a youtube search for keiser report, and sorted by most views, and the top results are all spanish dubbed episodes about bitcoin. So it looks like Max Keiser has a major audience in spanish speaking countries, even though his show is really for western audiences.
Earlier quoted context omitted.
Touché
A volatile currency with direct transaction fees ranging from $0.05-60 [edited per FreeRadical - thanks!] and indirect transaction fees of roughly $90 (socialized block reward). Whose value dropped 50% in a month then went up 50% in a month (which of course still leaves it 25% below its near-term highs). I don't think even the Cuban Peso performs like that. Think about both of those in terms of the average salary of…
You don't need to transact on-chain (i.e. settlement layer). There's a lightning network, where transactions are instantaneous, and fees are a few satoshis.
It's amusing how most Bitcoin critics focus on on-chain fees and pretend that lightning doesn't exist.
> And why did it drop 50% in a month? Because the worlds 25th largest automaker decided it was a bad medium of exchange for buying electric cars.
That wasn't the main reason. It was the China FUD and the lack of Grayscale's neutral arbitrage, which took out the biggest buyer off of the market.
Bitcoin could be the undoing of the regime. It will allow Cubans to accumulate wealth that the regime cannot seize or convert into another worthless Cuban domestic currency. While I like the idea of free health care and education, the idea that a brain surgeon gets paid same as a street cleaner is absurd. Cuba is a series of failed experiments.
Earlier quoted context omitted.
Touché
A volatile currency with direct transaction fees ranging from $0.05-60 [edited per FreeRadical - thanks!] and indirect transaction fees of roughly $90 (socialized block reward). Whose value dropped 50% in a month then went up 50% in a month (which of course still leaves it 25% below its near-term highs). I don't think even the Cuban Peso performs like that. Think about both of those in terms of the average salary of…
Though so far US government authorities have been supportive of USD-based stablecoin use by people living under repressive anti-US governments, even going as far as facilitating transfers of USDC, via Ethereum, to medical and humanitarian groups in Venezuela: https://www.coindesk.com/circle-usdc-venezuela-airtm
$10 fee on every transaction and an immutable 7tps. LN is joke.
Earlier quoted context omitted.
A volatile currency with direct transaction fees ranging from $0.05-60 [edited per FreeRadical - thanks!] and indirect transaction fees of roughly $90 (socialized block reward). Whose value dropped 50% in a month then went up 50% in a month (which of course still leaves it 25% below its near-term highs). I don't think even the Cuban Peso performs like that. Think about both of those in terms of the average salary of…
> A volatile currency with direct transaction fees ranging from $0.05-60 [edited per FreeRadical - thanks!] You don't need to transact on-chain (i.e. settlement layer). There's a lightning network, where transactions are instantaneous, and fees are a few satoshis. It's amusing how most Bitcoin critics focus on on-chain fees and pretend that lightning doesn't exist. > And why did it drop 50% in a month? Because the wo…
Sure, however LN is not sufficient because it requires an on-chain transaction to open a channel. To open a channel for everyone on earth would cost up to a third of a trillion dollars and take over 75 years, plus or minus deaths and births. Like getting a phone line in the Soviet Union. Further, complexity of routing is quadratic and will quickly exceed our patience.
> It's amusing how most Bitcoin critics focus on on-chain fees and pretend that lightning doesn't exist.
Well, that's because the underlying that LN is strapped to is so incredibly inefficient LN is a rounding error at the limit.
Bitcoin could be the undoing of the regime. It will allow Cubans to accumulate wealth that the regime cannot seize or convert into another worthless Cuban domestic currency. While I like the idea of free health care and education, the idea that a brain surgeon gets paid same as a street cleaner is absurd. Cuba is a series of failed experiments.
> While I like the idea of free health care and education, the idea that a brain surgeon gets paid same as a street cleaner is absurd. I personally support wealth and income inequality when coupled with social mobility (and a high standard of living at the low end). With that in mind, why do you think it's absurd for both a street cleaner and a brain surgeon to enjoy a middle class lifestyle? I think we both agree ne…
Your brain surgeons will leave and you will be left with the other guy. Which may be fine for you but many Americans do not want that and consequently find things that would bring that about absurd.
Earlier quoted context omitted.
A volatile currency with direct transaction fees ranging from $0.05-60 [edited per FreeRadical - thanks!] and indirect transaction fees of roughly $90 (socialized block reward). Whose value dropped 50% in a month then went up 50% in a month (which of course still leaves it 25% below its near-term highs). I don't think even the Cuban Peso performs like that. Think about both of those in terms of the average salary of…
Bitcoin was a saviour for many ordingary folk in Venezuela during the hyperinflation crisis. It worked as intended. https://www.dw.com/en/venezuelans-try-to-beat-hyperinflation... Why would a country embargoed by the USA use USD?
During a hyperinflation crisis everything that isn't money appreciates rapidly by definition. This means the often touted usefulness of bitcoin as "inflation hedge" is rather meaningless, because literally any asset that isn't money is an "inflation hedge". The shoes that I'm wearing right now are an "inflation hedge" just as good as bitcoin. In fact they're a better inflation hedge than bitcoin because their price is more predictable.