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Bitcoin Is Time

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Re: Bitcoin Is Time

#581

Post by Scott_Sanderson »

99_00 wrote: post #393
boredpandas777 wrote: post #348

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…

It's not new. History is full of these schemes. Eventually everyone who wants bitcoin has bought it, and there are no more bids.

But yet . . .

Would you say eventually everyone who wants dollars will have enough and the demand for new dollars will be zero?

Re: Bitcoin Is Time

#582

Post by jakupovic »

danShumway wrote: post #440
freeone3000 wrote: post #295

Earlier quoted context omitted.

Because it's the one that's caught on. There's no actual need for inherent utility of it that can't be papered over by running everything through one of a few big exchanges. Or, preferably, ONE big exchange, where all settlements can take place off-chain and the blockchain sits in a big vault and everyone just trusts you can redeem your account balance for Bitcoin if you ever want it, but you won't want it, because t…

> Or, preferably, ONE big exchange, where all settlements can take place off-chain and the blockchain sits in a big vault and everyone just trusts you can redeem your account balance for Bitcoin if you ever want it, but you won't want it, because the balance is more valuable than the actual Bitcoin. That's an important point, because it prompts the question: what is the problem that Bitcoin is solving if the preferab…

I would say first read the article, which goes in detail what it solves. I'm not doing a TL;DR for you here but the post title does have a lot to do with it. You're stuck on speculation side. There are other parts to the problem which also needed a solution. As the time progresses the reward is smaller and then becomes negligible if bitcoin ever fulfilled it's ultimate goal. This is the reward for early adoption.

Re: Bitcoin Is Time

#583

Post by Mitzi »

renewiltord wrote: post #396
anthropodie wrote: post #370

Earlier quoted context omitted.

> Happy to be downvoted into negative territory. I see another comment on top doing the same. Why do people start with this? If you don't bother you should not even brought that up. Seems like an underhanded way of getting more points. Do people even fall for this?

It's a very effective meme. Like most such memes, it worms itself inside, and the vehicle doesn't consciously know of its presence. These people aren't thinking "I'll do this. It'll get me votes". It is unconscious mimetic memetics, if you will :) Some of these memes become elevated into conscious actions. For instance, people cynically exploit "Linux can't do X" to get help for X. But some memes are unconscious and…

Would you mind elaborating on which privacy and security comments you think propagate as memes?

Re: Bitcoin Is Time

#584

Post by cwkoss »

danShumway wrote: post #467
tony101 wrote: post #430

Earlier quoted context omitted.

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.

> Accept donations or other online transactions without relying on Visa/Mastercard. And then you can either try and meet someone in an alley somewhere, or go to a gatekeeper exchange just like Visa/Mastercard to try and convert those transactions back to money that can actually be exchanged for food and shelter! I mean, let's be serious here. In theory, blockchain could allow us to build a good online payment system…

Bitcoin is a settlement layer, like ACH, not a payment provider like Venmo

Re: Bitcoin Is Time

#585

Post by u678u »

One thing that always bothers me about BTC is that the whole blockchain is kept, its like half a terabyte by now. Will they ever agree to just trim off everything older than XXX days or similar? It seems hugely inefficient.

Re: Bitcoin Is Time

#586

Post by kenniskrag »

hannasanarion wrote: post #544
fredfoobar wrote: post #373

Earlier quoted context omitted.

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.

This is accidentally a good analogy. Because yes, cars have made the world materially worse, not because horses are better, but because dense urban development, public transit, walking, and cycling is better. Cars are enormously wasteful, much like bitcoin is, not only because it uses way more energy than is necessary for the task it is performing (~90% of the energy used by cars is spent to move the car, not the car…

What happens if you have the same amount of horses like cars? Aren't they wasteful and need a lot of space and at night a heated parking spot? :)

Re: Bitcoin Is Time

#587

Post by hannasanarion »

fredfoobar wrote: post #548
hannasanarion wrote: post #544

Earlier quoted context omitted.

This is accidentally a good analogy. Because yes, cars have made the world materially worse, not because horses are better, but because dense urban development, public transit, walking, and cycling is better. Cars are enormously wasteful, much like bitcoin is, not only because it uses way more energy than is necessary for the task it is performing (~90% of the energy used by cars is spent to move the car, not the car…

"accidentally" Do you always feel superior to other people? or is it just today?

Accidentally because opposition to bitcoin, like opposition to cars, isn't luddite rustic anti-industrialism, it's common sense advocacy for equally modern but different solutions to the problem.

Bitcoin doesn't do anything that electronic banking can't do better, and it causes a lot of harm in wasted energy and space.

Cars don't do anything that busses, trains, and bicycles can't do better, and they cause a lot of harm in wasted energy and space.

Re: Bitcoin Is Time

#588

Post by nexthash »

nightski wrote: post #391
boredpandas777 wrote: post #348

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…

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…

I think you are the one with your head firmly shoved in the sand. Bitcoin has enormous problems with legality, energy usage, lack of trust, hacking, and slow, expensive transactions that make it a really shitty alternative to fiat. Bitcoin isn't just a gamble - its sole use as of now is as a pump and dump scam. There is no earthly reason why a digital token should be worth $50k a pop. Bitcoin is a shitty bet, and I'd take USD and a bank account any day over it.

Re: Bitcoin Is Time

#589

Post by BoorishBears »

fredfoobar wrote: post #523
perfect_kiss wrote: post #521

Earlier quoted context omitted.

Same with electrobikes. Also electrobike can use multiple horse powers, instead of just one.

Will an electrobike take you home when you are blind drunk? What do we do when you run out of charge on your electrobike? what happens when there is a blackout? I don't think you've thought through all the problems properly.

I live in NYC, in 50 story apartment building next to several other similarly sized high rises.

Our cars need about 75 sq. ft each (they're on stacked up 3 levels high in the garage)

How many sq. ft. would we need for all of our horses? How many people would be needed to take care of them full time?

Actually yeah... outside of cities who'd be taking care of these horses? Because cars need mechanics when something goes wrong obviously, but likewise horses need vets.

The day-to-day stuff like refueling a car is dead easy, meanwhile you can't just ignore your horse in the stable for a week because you didn't feel like going anywhere then fill it up on the way to your destination...

Edit response because I'm rate limited:

It seems you're not joking with the tone you're taking. I feel bad for you.

Our world would be much better off if we all lived in cities like NYC. Ten years ago average New Yorker generated 30% less CO2 than the average, and greenhouse emissions from the city were trending downward as economic activity trended upwards.

But yeah, I guess you're just enlightened past living near other people and shame on anyone who's comfortable enough with human contact to live in a city.

For all your posturing it's ironic you'd balk at "living in a crowded place"... the 30% in CO2 we'd save by living in cities like NYC is more than if we got rid of all forms of transportation in the US. Meaning simply by living in a city I don't really need to play ridiculous mental gymnastics like, but it's fun to tear down a bad argument.

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You're privileged enough to have an existence where taking care of a horse is easy and "therapeutic" I'm sure all the people barely making ends meet working 2 jobs would have just as easy a time filling up their car in 5 minutes as taking care of a horse.

I wonder what percentage of Americans have and additional 2 to 4 hours every single day just burning a hole in their pockets

And let's not forget the fact a car requires operating two pedals and a wheel. We can even modify them to require less for people who are physically impaired.

Good luck with taking care of an actual horse with a physical impairment. I'm sure you'll just say it's good exercise though, and woe onto you if you're someone with something like limited mobility trying to muck a horse stall.

It's always funny how the people who lived in the most privileged little bubbles seem to think those big city sheeple just don't get it

Re: Bitcoin Is Time

#590

Post by untilHellbanned »

boredpandas777 wrote: post #348

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…

What's the correlation of people who hate on crypto who lost money or missed out on it?
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