Rmilb

5 ms·

1.
by Rmilb 7y ago
And lost 99% of its value!
2.
by Rmilb 7y ago
How do you compare a traditional transaction to one that is uncensorable by anyone?
3.
by Rmilb 9y ago
IRS considers it an asset not money.
4.
by Rmilb 9y ago
I think the people in the panama papers would disagree.
5.
by Rmilb 9y ago
This is false, you just have to wait for more confirmations. And if miners are censoring transactions there will be a fork where you can use your coins.
6.
by Rmilb 9y ago
Exactly the point. Satoshi created the issuance curve of Bitcoin to mirror the amount of gold that was dug up.
7.
by Rmilb 9y ago
Another worrying development on the bitfinex story is that one of its employees has removed the warrant canary from his twitter profile. https://twitter.com/el33th4xor/status/941707765910818816 I think this is a b
8.
by Rmilb 9y ago
There have been low transaction fees in the past and they can return. Currently that is not the case.
9.
by Rmilb 9y ago
The crypto market trades more on sentiment first, then technicals.
10.
by Rmilb 9y ago
> One caveat with Bitcoin is that the network is so slow (effectively just 3 transactions per second) that a crash would be spread out over time. This is false, the majority of people selling already have their coins on coinbase or other
11.
by Rmilb 9y ago
>you aren't any more free than you were under the banks, you're just beholden to a different master - the people who maintain the cryptocurrency networks. Exactly. Bitcoin just like fiat is backed by trust in those who run the
12.
by Rmilb 9y ago
>BTC could go to $0 tomorrow. Suppose the US Gov. makes everyone legally declare their BTC assets as assets and they are subject to taxation etc.. BTC is ALREADY taxed as an asset. If you buy $4 worth of BTC, price goes up 20% and the ne
13.
by Rmilb 9y ago
>Or illegal medicine/performance enhancing drugs/... Like overpriced medication that is unaffordable in the US.
14.
by Rmilb 9y ago
This is low level trolling. Visa and Mastercard are not decentralized. Centralization is an easy way to scale. They are not apples and oranges. Also, Bitcoin settles transactions in 30 days, merchants get their funds in 30 days if they are
15.
by Rmilb 9y ago
Bitcoin is the conservative approach to any change that decreases the keystone of decentralization that allows it to survive. The market is deciding what it values.
16.
by Rmilb 9y ago
Terrible analogy. To be more accurate, you would copy america and change the policies you want. Then the market decides on what they believe in and want.
17.
by Rmilb 9y ago
Ignore exchanges where there is 0 trading fees like the big one in Korea.
18.
by Rmilb 9y ago
How does the government seize bitcoins when you have memorized your private key? They cannot read your mind. Here is more information about the topic : https://en.bitcoin.it/wiki/Brainwallet
19.
by Rmilb 9y ago
They have done a lot. However they were pushing too hard for the NY Segwit 2X agreement and complaining loudly of high fees. They still have not upgraded their software to support segwit addresses but still had the time to support the 2X fo
20.
by Rmilb 9y ago
If you are certain it will collapse you can make a lot of money shorting it. If you are 100% sure, there is no downside.
21.
by Rmilb 9y ago
What do you see as the core value bitcoin provides? Outside of wild speculation?
22.
by Rmilb 9y ago
This graphic is useful but misses the context of past failed hardforks/attacks such as BitcoinXT and BitcoinUnlimited.
23.
by Rmilb 9y ago
Longest PoW being the main chain was not described in the context of contentious changes to consensus code. By that definition, a 51% attack that censors transactions would be the longest PoW and be defined as 'Bitcoin'. The grea
24.
by Rmilb 9y ago
I think its unfair to dismiss the currency aspect of bitcoin. The use case for the developed world is 95% speculation 5% buying contraband online however, for people in Venezuela[1], girls learning to code in Afghanistan[2], or women in Sau
25.
by Rmilb 9y ago
There is no doubt the pets.com equivalent of ICO startups that won't deliver anything of value. On the other hand, the googles, and Amazons of the crypto world are being built today and if they provide enough value they will survive wh
26.
by Rmilb 9y ago
Bitcoin as a currency doesn't solve any problems for people in developed countries. For the 5 billion plus who are underbanked due to lack of access or government red tape, it solves a big problem. Maybe you live in a country where the
27.
by Rmilb 9y ago
I think the point was that is a slippery slope. Where do you draw the line? Do we trust the restrictions we have placed on our government to not violate our rights?
28.
by Rmilb 9y ago
The value proposition has always been that if it can succeed success being defined as being one of the major crypto currencies to see adoption, then just taking 1% of the global gold market, black market transactions, and remittances; its w
29.
by Rmilb 9y ago
The continuing existence of Bitcoin disproves this. What do you base your point on?
30.
by Rmilb 9y ago
Unless you want to totally eliminate counter party risk or execute an unstoppable transaction. Most use cases do not require these benefits.

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