81–90 of 268 posts
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>Cryptocurrency is probably one of the worst inventions in recent memory. Do you have a source for this fact? It might survive the 50 year old fiat dollar experiment. Until 50 years ago, there has not been a currency that wasn't backed up by something that was beyond the government
A source for this fact? It's an opinion.
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>Cryptocurrency is probably one of the worst inventions in recent memory. Do you have a source for this fact? It might survive the 50 year old fiat dollar experiment. Until 50 years ago, there has not been a currency that wasn't backed up by something that was beyond the government
Bitcoin subsists on the massive electrical and internet infrastructure that is only possible through government.
For all the hate Bitcoin gets because it’s obviously in a bubble market, can we at least agree that it is an astounding engineering achievement that an anonymous individual and a small group of researchers were able to build a network capable of transacting billions of dollars of value with only 2 service incidents in 14 years? All without any meaningful service costs and no hacking of the network, despite huge incen…
Isn't the absolute value of the transaction pretty irrelevant to the technology?
As far as transactions per second Bitcoin is still pretty mediocre, isn't it?
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In modern times people want fast results. Bitcoin is not up to this task.
What kind of fast results are you actually looking for? Is sub-second transactions not good enough for the vast majority of applications?
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There is a meaningful service cost, it's just paid for by mining. Environmentally there's also a massive cost, one that is not offset by the benefits bitcoin brings - which is primarily financial speculation and scams. Cryptocurrency is probably one of the worst inventions in recent memory.
Quantify the environment cost that has been borne by bitcoin and now compare it to the cost by overheating or cooling houses (except perhaps a few elderly or infants, no one needs a house to stay within 60-80 degree band, you can survive with much less heating/cooling energy usage). Then explain to us how anyone living in a comfortable room temperature heated home that complains about bitcoin isn't a hypocrite, using…
This isn't a cogent argument. Yes, overheating or overcooling houses is also bad. If AI training used as much electricity as Ireland I'd be critical of that too.
For all the hate Bitcoin gets because it’s obviously in a bubble market, can we at least agree that it is an astounding engineering achievement that an anonymous individual and a small group of researchers were able to build a network capable of transacting billions of dollars of value with only 2 service incidents in 14 years? All without any meaningful service costs and no hacking of the network, despite huge incen…
There is a meaningful service cost, it's just paid for by mining. Environmentally there's also a massive cost, one that is not offset by the benefits bitcoin brings - which is primarily financial speculation and scams. Cryptocurrency is probably one of the worst inventions in recent memory.
What happened to Lightning? Did it solve Bitcoin's problems yet?
It's functional but not ready for prime time yet, IMHO. Buying things on Bitrefill using Lightning works well. It is better than a credit card, I think. Really fast and low fees. Imagine a gift card that works for any merchant that opts into the open protocol. Also, if you want to refund the money on the card, you can do that without the cooperation of any merchant. There are a number of improvements in the pipeline.…
https://www.icc3.com/18-months-away-latest-lightning-network...