71–80 of 219 posts
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>non-inflated currency >bitcoin Pick one.
> always inflating > fixed number of Bitcoins Don't think he needs to.
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Iunno, if i were a billionaire, the idea of having $50m under nobody’s control but my own that I can take anywhere, anytime, doesn’t exist anywhere else. I can’t do that with gold. Bank deposits are always available until they aren’t. But Coinbase can’t do this either.
And why would someone put $50m into a highly volatile, unchecked tech, where mediators are mostly known because of their security problems and breaches?
2. There’s a chance (however small) that you could lose the other $950m, but keep some of this other $50m.
Bitcoin and similars are the biggest waste of computing power and energy in the history of the planet. It will be nice for the environment when this is all over.
> the biggest waste of computing power and energy in the history of the planet If we except the tetris, or minesweeper...
On the other hand, blockchain mining responds to more efficient hardware by increasing difficulty in order to compensate for the impact of improved hardware on the hash rate, while still doing the same amount of work (i.e. processing the same amount of transactions).
The comparison is absurd and intellectually dishonest.
Wasn’t there a HackerNews post last week about Bloomberg journalists getting paid for articles that move markets? This one seems like one of those articles.
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Iunno, if i were a billionaire, the idea of having $50m under nobody’s control but my own that I can take anywhere, anytime, doesn’t exist anywhere else. I can’t do that with gold. Bank deposits are always available until they aren’t. But Coinbase can’t do this either.
Edit: I calculated this wrong, please ignore this comment
Earlier quoted context omitted.
Iunno, if i were a billionaire, the idea of having $50m under nobody’s control but my own that I can take anywhere, anytime, doesn’t exist anywhere else. I can’t do that with gold. Bank deposits are always available until they aren’t. But Coinbase can’t do this either.
Edit: I calculated this wrong, please ignore this comment
The billionaire looking for security would already have a cache of stone and gold, but would appreciate other new forms of diversification.
An important harbinger of trouble to come is that the Tether (USDT) coin, which is supposed to be pegged 1:1 to USD, is now trading substantially below $1: https://www.bloomberg.com/news/articles/2018-10-15/dollar-pe... Billions of Tethers were printed seemingly out of thin air and used to purchase Bitcoin. It's part of the foundation of the house of cards that keeps Bitcoin at its current price: "Despite their modes…
I saw a couple of comments today about the price of USDT so I think it's worth while explaining how it works just in case anyone is interested in knowing more. USDT is a pegged-currency. It's often described as a stablecoin but that's not correct because it doesn't have an inbuilt stabilisation mechanism unlike Maker's DAI for instance. The way it works is purely based on well known legal mechanisms that have no cryp…
the closest there has ever been is a letter from a law firm that was related to the owners and which clearly stated that it was not an audit.
An important harbinger of trouble to come is that the Tether (USDT) coin, which is supposed to be pegged 1:1 to USD, is now trading substantially below $1: https://www.bloomberg.com/news/articles/2018-10-15/dollar-pe... Billions of Tethers were printed seemingly out of thin air and used to purchase Bitcoin. It's part of the foundation of the house of cards that keeps Bitcoin at its current price: "Despite their modes…
Removing it from the equation would be very welcome.
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Not sure where you are going with this, but yeah, Bitcoin does not have a standing army. It secures itself from attack by proof of work.
Ok, cool. How does that secure the rest of us?
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The implication now is that there'd be no standing armies or other, as you say, tools of power? Do you believe this?
Not sure where you are going with this, but yeah, Bitcoin does not have a standing army. It secures itself from attack by proof of work.