551–560 of 736 posts
It's so weird to me that here, on hacker news people have such a hatred of coinbase. Coinbase is a YC company, and if some of the predictions are accurate, will be the highest valued YC company so far.
This is standard operating procedure for HN. Even when the market proves you wrong, continue parroting the same bullshit about tech you know absolutely nothing about.
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To be clear, ADA doesn't have a smart contract platform yet. I believe that's part of the update that is coming in a couple of days. They've been building towards that for several years and have done a lot of great work in the space. Tezos is quite a bit ahead of ADA in that particular respect as they have smart contracts already. I don't believe ETH2 will ever show up, but who knows. Full disclosure, I've got holdin…
Well, if Ethereum 2.0 "never shows up", that's $5.3B locked in a contract[0] that "will never do anything". I think $5.3B is sufficient motivation to get it released. [0]: https://etherscan.io/address/0x00000000219ab540356cbb839cbe0...
That's the same as claiming that the "market cap" of a cryptocurrency has some meaning. It really doesn't.
Both of those statements assume that somehow every ETH coin ever minted can be sold for the asking price right now. That's an obviously laughable assumption.
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> commodity It's not really a commodity. More of a currency. > you want high price for a longer period of time, but are turned off by the exact and only mechanism in which it gets there - large % and large $ amount price increases. fascinating. I'm not saying it's worth nothing. If bitcoin stays above 5k for a long time, i'm willing to say it's worth at least 5k. If it stays above 50k for a long time, i'll come aroun…
scarcity and liquidity then? there’s nothing wrong with low float assets, really seems like you are making a separate higher standard for bitcoin yes all cryptocurrencies inherit that capability to an extent, just have to convince others to share the same view, with the security of the database becoming the limiting factor the future value of bitcoin are the drivers of its scarcity, if all of those drivers are too in…
So it's valuable because it's scarce and it's liquid because it's valuable? I imagine you can see how a skeptic might view this. I would be skeptical of gold coins too, but for the fact that a gold coin today would have been valuable in ancient Rome as well. So I don't really understand why gold is so valuable, but the fact that it's been very valuable (to varying degrees) for 5000 years leads me to think that that will hold for at least for the rest of my life.
I agree that Bitcoin has advantages as a store of value over gold. But it's value is only as high as people value it for, so the trillion dollar question is whether it's just a fad. For those of us who are skeptical, there are definitely things that could bring us to the other side, such as sustained value for a longer period of time.
I have tried to use Coinbase this past month to buy some ETH. Worst customer support I have ever seen in my life. Have a look at Reddit to see what's going on with this company: https://www.reddit.com/r/CoinBase/new/ It's not ok to brag about your business when many of your customers are in deep emotional stress because you mess with their money.
As a former customer of mtgox and someone who hung out in #bitcoin-otc on freenode half a decade ago: they're still better than most of the exchanges.
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Don’t speak for everyone there, “we” don’t all have the same reason. I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity and you can physically own it but it is much easier to store and send anywhere in the world if needed. These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial syste…
Scarcity itself does not imply value, something can be scarce but if no one wants it it still has no value. So the question needs to be what really drives the value of something like Bitcoin? In my opinion, I think that Bitcoin derives its value from the idea that one day it will become a widely used currency that can be exchanged universally for real-world goods and services. This has what has driven it to become a…
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> These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial system. At the time of writing this comment, if you want your BTC transaction confirmed in the next hour it would cost you ~ 10USD ( https://bitcoiner.live/ ) . What planet do you live on where you think a non-negligible percentage of people in ANY country, let alone a…
regarding the transaction cost, wells fargo charges me $15 to receive a wired payment. If the use case is only large gold like transactions, the BTC use case makes more sense. Tbd.. shake it out.
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Don’t speak for everyone there, “we” don’t all have the same reason. I like Bitcoin as a diversification for being a “better version of gold” - it has the scarcity and you can physically own it but it is much easier to store and send anywhere in the world if needed. These properties also mean that in a pinch, if you live in an unstable society or one facing high inflation it can work as an alternative financial syste…
> But I’ll never understand the westerners that seem to be almost rooting for their own society to collapse just to have another reason to use Bitcoin. I don’t have any real need to be independent from banks, and I am lucky that I live in a pretty stable society where that’s true. I can write a book on why this is, but since 2008 we have seen economic collapse after economic collapse starting in the very cradle of We…
If it 'goes down' it means, almost everything else is 'going down again'. Your BTCs are useless in that scenario.
BTC is a terrible currency and a bad store of value - and there is no 'mathematical arrangement' that can replace good governance.
It would be like using digital contracts for legal contracts etc. - that won't solve corruption and inanity.
What we need a are good, well managed currencies. If you don't like how they are managed, don't hold on to currency. Buy real estate, stocks, any other classical form of value and use the local currency merely as a medium of exchange and you'll be fine.
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Except that BTC is a terrible store of value, possibly the last option in a long line of better classical options such as real estate (or related funds), stocks, bonds, basket of currencies, commodities. We already have tons of options for 'store of value' why on earth would we invent another, worse one? BTC is not a store of value or a currency - it's a weird social movement.
...how embarrassed would you be for being like a decade late to such a massive "social movement" that went from like $1 to more than $ trillion dollars...? Yeah. sorry about your ignorance.
This is pure Ponzi Scheme language, helping to prove my point.
There are rooms on Clubhouse you can join where people talk and hype up these kids of schemes, this is not one of them - don't bring this here.
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this is where decentralized exchanges like Uniswap come into play, no KYC, no account
And how do you move your money to/from a DEX? It still needs a regulated exchange like Coinbase to interface with Fiat money, no?
LocalBitcoins enables face to face transfers.
Bisq is a DEX that enables remote exchanges using any form of payment, including most centralized payment services, and even cash through snail mail.