451–460 of 1001 posts
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I guess the difference is cars are useful. What can I do with a bitcoin except hope to sell it for more USD later?
Transfer funds across borders without dealing with multi-business-day bank delays or capital controls in countries like China. Accept donations or other online transactions without relying on Visa/Mastercard.
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I've been saying the same damn thing about automobiles man, horses already have self driving even! and they don't pollute like cars. Look at the mess we're in now! who's laughing?? Cars pollute and need roads, we had to build so many roads and gas stations. We even had to go to war to make sure we have enough oil.
Horses literally put shit on the streets. Imagine replacing each car with a horse and think about the amount of poop. Horses are also dangerous. A friend of mine lost almost all of their teeth because their horse kicked them in the face when they cleaned its hooves.
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I've been saying the same damn thing about automobiles man, horses already have self driving even! and they don't pollute like cars. Look at the mess we're in now! who's laughing?? Cars pollute and need roads, we had to build so many roads and gas stations. We even had to go to war to make sure we have enough oil.
Horses literally put shit on the streets. Imagine replacing each car with a horse and think about the amount of poop. Horses are also dangerous. A friend of mine lost almost all of their teeth because their horse kicked them in the face when they cleaned its hooves.
Let me fix that title. Happy to be downvoted into negative territory. I only have 11 points. Go ahead. "Bitcoin Is A Waste of Time (and Resources)" What Bitcoin has done is that it taught people they can come together in a sustained flash mob (like an on-the-fly hedge fund operation) and manipulate the price of speculative assets by creating artificial short-term pump-n-dump type demand. Bitcoin has trained our colle…
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This distinction is so tiring. It's just not interesting calling something gambling as if that is supposed to be bad. Every move we make is a gamble (yes, even storing that precious cash in the bank). Money is all about opportunity cost and choosing to do nothing is just as much of a gamble as doing something like storing it in bitcoin. Sticking ones head in the sand doesn't change the fact that your only choice is t…
Everything is indeed a game, but not all games are zero-sum. I feel like when people criticize games, they are often implicitly referring to the latter kind, and in that sense, it‘s often constructive criticism.
Those qualities add value in a way that makes it attractive to buyers even if they expect the price to go down over time.
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Did you read the article?
Bitcoin solved the double-spending problem. A problem long ago solved by centralized banking at significantly lower energy costs. You speak of continuing to allow wasteful energy expenditures in analogy to going to the moon and building the LHC, but if we already know how to solve double-spending problem at lower energy costs, why should we allow bitcoin? So I ask in good faith, what problem did bitcoin solve that no…
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Did you read the article?
Bitcoin solved the double-spending problem. A problem long ago solved by centralized banking at significantly lower energy costs. You speak of continuing to allow wasteful energy expenditures in analogy to going to the moon and building the LHC, but if we already know how to solve double-spending problem at lower energy costs, why should we allow bitcoin? So I ask in good faith, what problem did bitcoin solve that no…
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>Bitcoin is onto something What if it "was"? The "hate" people express against bitcoin especially here on HN is often towards the implementation. People clearly see the flaw in PoW if they are not emotionally attached to it because they have no money at stake. You should not misinterpret that as hate because they missed the train to richness. Objectively PoW does not scale. Objectively we have DLTs (blockchains) with…
>People clearly see the flaw in PoW if they are not emotionally attached to it because they have no money at stake. You should not misinterpret that as hate because they missed the train to richness. The vitriol that Bitcoin evokes from HN commenters can really only be explained by jealousy, the environmental concern is just a cover for covetousness.
The argument was that PoW can not not scale. Its an obvious objectively verifiable fact and its completely irrelevant what kind of environmental side effects bitoin has or will have in the future. For all we know it could run on fusion reactors and biodegradable ASICS only and it still would not scale.
Let me fix that title. Happy to be downvoted into negative territory. I only have 11 points. Go ahead. "Bitcoin Is A Waste of Time (and Resources)" What Bitcoin has done is that it taught people they can come together in a sustained flash mob (like an on-the-fly hedge fund operation) and manipulate the price of speculative assets by creating artificial short-term pump-n-dump type demand. Bitcoin has trained our colle…
In a way, what has been happening lately, is the democratization of the power to game the system. Which doesn’t mean that now anyone can do it, but rather that it is not limited only to the rich and powerful anymore (until they figure out a way to gate-keep it again).
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>Bitcoin is onto something What if it "was"? The "hate" people express against bitcoin especially here on HN is often towards the implementation. People clearly see the flaw in PoW if they are not emotionally attached to it because they have no money at stake. You should not misinterpret that as hate because they missed the train to richness. Objectively PoW does not scale. Objectively we have DLTs (blockchains) with…
As an engineer with twenty years experience in this space and nearly as long studying the economics of it, I have yet to see a replacement for PoW that solves the problem that PoW solves. Proof of Work is trustless decentralization. Proof of stake is trusting the dudes who premined the coin and sold you a “fix for bitcoins inherent problem” to hype their ICO. If you were right, after 10 years one of those PoS currenc…
[0] Ouroboros - A Provably Secure Proof-of-Stake Blockchain Protocol https://eprint.iacr.org/2016/889.pdf