471–480 of 1001 posts
Aside from all environment and ethical concerns, can someone elaborate how bitcoin & other crypto affects global economy and especially wealth equality? Since bitcoin transactions are anonymous, what will happen to taxes?
I don't understand all the Crypto hate on this site. Since when have hackers become the luddites to new ways of finance?
It's because 98% of the people on here haven't actually used DeFi. The most they've done is bought and sold a little btc or eth on coinbase. The ah-ha moments come from real use.
I've actually had to buy Bitcoin in order to pay for something that was about $20. Talk about a hassle and fees upon fees.
Dec 2020 - Raises $5bn from investors Jan 2021 - Spends 30% of raised money to buy Bitcoin What value are Tesla adding here? Those investors could have just put 70% in to Tesla and 30% in to Bitcoin directly. Arguably, the only positive here (for BTC and TSLA holders) is short term, and it's that Tesla are associating their brand with Bitcoin to whip up froth.
Earlier quoted context omitted.
> I don't understand all the Crypto hate on this site. Since when have hackers become the luddites to new ways of finance? For me, it's because nobody can explain what the value offering of Bitcoin is - mainly the question 'what can I actualy do with a bitcoin?' . It's a bad currency because it is slow to exchange and costs lots of money to exchange - I can't use it to buy my coffee in the morning. It's a bad non-spe…
Let me explain bitcoin in a way that hackers will understand. Bitcoin is javascript. Hackers don't like javascript. It's got a lot of terrible quirks. There are so many languages better than javascript. But that doesn't matter. Javascript is ubiquitous, and you can't avoid it. Bitcoin is the same. Either you accept it as the way things are and profit from it, or you keep pounding your head against the wall.
I can't avoid it if I want to do web frontend programming, agreed. So "what is the web frontend programming" in your analogy, i.e. the thing I can't do without Bitcoin?
2020 has completely changed my perception of Tesla and Musk. I had this image of a benevolent genius who is sometimes misunderstood ("funding secured", "pedo guy", "Autopilot"). Came across Teslacharts' podcast [1] (now the Chartcast) and oh boy was I wrong. This is only the latest in a long series of red flags around Tesla/Musk and however it ends, it will not end well. [1] https://thechartcast.com/
On the scale of time and things, his endeavours are significant. It is of extreme importance that we colonise mars. That is the single maxim by which I will judge Elon. He might me manipulative but he's not on the wrong side of humanity.
Is it? Such a moonshot ( Marsshot if you will) requires enormous resources, resources which can be better spent to improve the planet we have, and stop the damage we're doing to it. I don't believe all of humanity can move to and sustain on Mars within a reasonable timeframe and budget ( 100 years, tens trillions of dollars). What exactly is the point of doing so? To run away from the mess on Earth? That's a very shit "solution" and a huge waste IMO.
Bitcoin is a mystery to me. Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency. It feels like this is where all the "how to get rich quick" book writers and other hustle bros went and created one giant financial pyramid, which works in quite simple way: - buy bitcoin - tell everyone around how revolutionary it is, so they buy it and what you holding increases in va…
So long as we still exist in a scarcity reality (not the utopian post-scarcity vision), there must a way to abstractly represent the value one possesses and may trade for goods/services.
Don't understand much about corporate finance. Why would they park $1.5B of their cash? Don't they need it for other stuff? Or will they just borrow an equal amount to use for whatever they need?
Bitcoin is a mystery to me. Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency. It feels like this is where all the "how to get rich quick" book writers and other hustle bros went and created one giant financial pyramid, which works in quite simple way: - buy bitcoin - tell everyone around how revolutionary it is, so they buy it and what you holding increases in va…
I don't get why bitcoin is worth so much.Bitcoin is called a store of value like gold, but gold has inherent uses. If the price of gold went to zero then you could still use it to make jewellery or use it for electrical conductivity. If the price of bitcoin goes to zero then it's worthless. It's also not environmentally friendly and bitcoin mining uses up 0.21% of the world's power supply. And all of this energy is u…
And Bitcoin will always remain what it is now, a system for transferring bits in a decentralized fashion over the internet. Even if Bitcoin is worth $0, as long as there is a sender and a receiver (and at least one miner online), you'll be able to transact Bitcoin, this is hardly worthless.
> governments who see it as a threat , with India even going so far as to suggest they would ban it
This for me is a huge selling point for Bitcoin (et al). If famously shady governments like India and the US starts talking about banning something, I immediately start looking into why and how they are banning it. So far, the arguments seems to be that they are scared of loosing control, and if it gotten that far, it's because they genuinely believe cryptocurrencies could replace their centralized currencies. More reason to get involved in it.
Bitcoin is a mystery to me. Somehow it's hailed as revolutionising the economy, by replacing currency with a worse kind of currency. It feels like this is where all the "how to get rich quick" book writers and other hustle bros went and created one giant financial pyramid, which works in quite simple way: - buy bitcoin - tell everyone around how revolutionary it is, so they buy it and what you holding increases in va…
I agree. The future is not keeping track. If someone needs something they should have it. The only reason that hasn't happened is scarcity and logistics, which I believe we will solve in the not so distant future.
Earlier quoted context omitted.
“The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” -Satoshi Nakamoto Feb. 2009 If this isn’t resonating with you after the past year, I don’t know. I was forced to watch my government bungle a pandemic in the worst possible way and then asked t…
> I was forced to watch my government bungle a pandemic in the worst possible way and then asked to pay for it for decades. No I don’t think I will. That has very little to do with currency and everything to do with you not wanting to pay taxes. You may think that COVID response has been a catastrophic waste of money but if you'd lost your job would you have claimed the increased unemployment benefits? I suspect the…