541–550 of 688 posts
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Bill Gates is getting divorced. I think that is bigger news than Elon Musk not accepting crypto for Tesla’s
Bill Gates divorcing is not as big of a story as Bill Gates' connection to Epstein coming out recently. In my eyes he dropped more than the cryptos did
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base layer tps is low because it is designed for survival in most adversarial of conditions. It is a heavy duty tank, not a sport bike. Would you take M1 Abrams tank to race at Nurburgring? They have a different function. Lightninig/Payment channels, backed by the same baselayer security guarantees, can operate at literally unlimited tps. The only ceiling is how fast you can send packets back and forth. Miners do not…
What's stopping your adversaries from seizing hardware? Nothing? So the system relies folks playing nice in the physical world? The whole thing is a ridiculous fantasy with an asinine threat model.
Either monopoly on violence in the state under whose protection miners operate, or private security for smaller threats.
Miners in China, Russia and Iran are essentially absolutely immune to threats from the West. and vice versa.
It's not designed to gamble and make a quick buck, but to survive even a nuclear war. Just like TCP/IP wasn't designed for streaming porn.
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What's stopping your adversaries from seizing hardware? Nothing? So the system relies folks playing nice in the physical world? The whole thing is a ridiculous fantasy with an asinine threat model.
Because there's threat models with less threat than "US sending a fleet of aircraft carriers to go after you".
Bitcoin has always been an application for demonstrating the engineering achievements behind it (solving byzantine faults, fungibility of data), so we can build even greater tools like smart contracts, programmable money, trust-less p2p networks, etc so many things. I think labeling bitcoin as a scam is a huge insult to those engineers involved. Engineers like Hal Finney who dedicated his life trying to make a brighter future for everyone, I don't think it is fair to call his and others work an elaborate ponzi scheme.
The bitcoin space has so much history, a lot of battles have been fought on bitcointalk, over mailing lists and pull requests, etc. I feel that as developers we should focus less on financial markets and more technical discussion. Bitcoin has a lot of new things to talk about with the Taproot activation, like schnorr signatures and private lightning transactions. I'd like to see those discussions more on HN but that's just my opinion.
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You’re not alone. Seeing the comments flooded with “buy the dip” or, God, “diamond hands” makes me cringe every time. They get so offended when you call cryptocurrency a cult or Ponzi scheme but they make it extremely difficult not to. This is from someone with financial interest in a few coins but I’m not ready to die on any hill for bragging rights. I wish they would just admit they want capital gain and call it a…
That's probably the worst aspect of crypto communities. Early in BTC the talk was about the tech and possibilities, trading/selling goods for BTC. Those sort of comments you mention started creeping in, but now that is the mainstay, in every individual crypto community. I dont care that they are speculation vehicles, but pretending you are changing the world just grates. And the constant calls to HODL, which used to…
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Sounds like two separate arguments, I don't really see the through line. The value of BTC comes from the mining security, and you cannot mine multiple chains at once with the same hardware. > The fact that pretty much every crypto of non-trivial float trades in lock step with BTC definitely supports the "no intrinsic value" theory. They are highly correlated but certainly not lock step, see the 1 month ETH/BTC chart.…
Sure, I mean you're just describing the opposite position, that the price of cryptocurrencies is reflecting some intrinsic value and that speculators have a negligible impact on the price. In that case market forces should eventually reveal some stable winners and all the deflationary stuff that lead us down this rabbit hole applies again.
Seems easy to craft some counterexample, like "Doge acts as a marketing campaign for crypto as a whole and will lead to net-inflows to the BTC market".
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What's the difference between: * seashell (intrinsic value: $0.01, market value: $100.00) * seashell token (intrinsic value: $0.00, market value: $99.99)
When no one wants to pay you anything for your seashells, you are stuck with the seashells.
As an outside observer, who has no crypto holdings at all, but is very deeply invested in the public stock market with a heavy weight on technology stocks... this doesn't look like a crash to me at all. It just looks like some steam being let off and old investors cash out and new investors get more comfortable with how much and where to invest. I consider crypto currency as it is to be an elaborate Ponzi scheme (per…
Bitcoin & Ether are both down -40% from a week to a month ago. Both of those are, in theory, large enough that investors "letting off some steam" shouldn't move them that much. If $SPY dropped 40% we'd all call it a crash. This isn't that different. Also unlike the stock market, crypto is under the delusion of being a viable currency. If USD or Euro dropped even 20% we'd start questioning if it's a recession, much le…
I feel like the HN community, who are more tech literate, should have a better understanding of Bitcoin and crypto. I don't like all the ignorant comments that focus purely on the financials. Is cryptocurrency space not full of technological marvel? Bitcoin has always been an application for demonstrating the engineering achievements behind it (solving byzantine faults, fungibility of data), so we can build even grea…
If you were to categorize all discussions about BTC between live humans into two buckets: discussions about the price of BTC and discussions about applications build on the bitcoin blockchain, which one do you think would win? I'd wager that >99% of all discussions are about the price. Yet the price is completely irrelevant to the applications built on the blockchain. They work just as well if the price of BTC is 1/10,000th the current price.
So it becomes very hard for people to buy the claim that actually this is all about technology and not about getting rich.
I used to be excited to see crypto currency related threads on HN's front page, bc I would be excited to see the technical discussion about he merits and criticisms of the technology. Nowadays, I am just disappointed when the discourse devolves into politics, cultism (on both sides), and misinformation. Where could I go to see discussions about just the technology?
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