etr-strike

7 ms·

1.
by etr-strike 9y ago
All coins built upon PoW suffer the same scaling issues as bitcoin. Since Bitcoin is the most popular, it hit the limitations first. Second layer technologies such as Lightning Network and Rootstock do solve various problematic use cases.
2.
by etr-strike 9y ago
As they should -- Lightning Network is the correct technological solution for small frequent payments such as game purchases on Steam.
3.
by etr-strike 9y ago
Lightning Network exceeds the throughput of VISA. The scaling problem is being addressed -- just not in the naive "let's throw away decentralization and increase the blocksize" way.
4.
by etr-strike 9y ago
> Bitcoin effectively froze when Blockstream decided against increasing block size. You mean when the Bitcoin Core implementation of the Bitcoin protocol decided decentralization was an important feature of the currency and transaction c
5.
by etr-strike 9y ago
That’s a cute theory, but housing costs are much more related to the cost of money. When the federal reserve makes money cheap, asset prices increase. Since mortgage rates are at historic lows, people simply borrow as much as possible unt
6.
by etr-strike 9y ago
The Federal Reaerve actually thinks productivity is too low: http://www.reuters.com/article/usa-fed-productivity-idUSL1N1... Would be a dream to work just 40 hours per week.
7.
by etr-strike 9y ago
And back to C we go.
8.
by etr-strike 9y ago
I can buy USDs with my bitcoin. Lots of them.
9.
by etr-strike 9y ago
Yes? Confirmations in bitcoin were never instant...
10.
by etr-strike 9y ago
No, I think blockchains provide many useful functions. However, providing a token with value is a necessary feature. I’m very excited about things like Rootstock which add smart contract functionality to the bitcoin blockchain.
11.
by etr-strike 9y ago
A blockchain is a decentralized trustless ledger. If the operators are trusted, you can just use a database. It’s much more efficient. It’s pretty clear from the comment that you don’t understand Bitcoin or why, when people say “we like bl
12.
by etr-strike 9y ago
You can’t have a blockchain without a Bitcoin. The two are inseparable. Every blockchain needs a token reward which has monetary value to secure it.
13.
by etr-strike 9y ago
Sure, if you don’t consider a decentralized and trustless currency a use. If you don’t consider a store of value a use. If you don’t consider a public ledger of transactions a use. If you don’t consider programmable money a use. If you d
14.
by etr-strike 9y ago
They’ve been fighting deflation, not inflation. Asset prices need to correct and they refuse to let them. There’s a reason young people are buying so few homes.
15.
by etr-strike 9y ago
You’ve lost your mind if you really believe inflation has only been roughly 2% the last decade.
16.
by etr-strike 9y ago
Keep doing what you’re doing central banks! Your policies of persistent inflation have robbed us of our ability to save our wealth and accurately plan for the future. You’ve decided that devaluing our wages 2% per year is in our best inter
17.
by etr-strike 9y ago
House prices needed to fall. Bad debt needed to be written off. Investors making risky loans needed to lose. None of these things happened, and look where we are. I vehemently disagree with everything you said in your post.
18.
by etr-strike 9y ago
Most of the coins people are purchasing today have been around less than a year and probably have less than 1% of the users of Bitcoin. They're pretty unproven.
19.
by etr-strike 9y ago
I see you took the long way around to agreeing with me at the end there. Have fun with your coordinator. Cheers!
20.
by etr-strike 9y ago
Way to pimp your altcoin at the end there. IOTA isn’t even in the same league as bitcoin. It’s not decentralized and it’s not trustless. Just use SQL at that point...
21.
by etr-strike 9y ago
Scalability problems sure, bitcoin is hardly struggling to innovate though. Rootstock, Schnorr signatures, mimble Wimble. These are awesome new technologies. Every coin today would have the same scaling problem bitcoin has if they had th
22.
by etr-strike 9y ago
Bitcoin is the least risky of all the cryptocurrencies. It has the largest user base. It has the most widespread infrastructure. It has financial products and derivatives. Every other coin is unproven, many are mostly unheard of, and ar
23.
by etr-strike 9y ago
Such cliche reasoning. If Bitcoin is going to be a successful currency and/or store of value, everyone and the brother needs to be talking about it (just like they talk about gold or the USD). I bet these same barbers have discussed t
24.
by etr-strike 9y ago
This is the history of Bitcoin. Booms and busts with no taxpayer funded bailouts. A decentralized and trustless currency is, in my opinion, the safest asset to have in the long term. The world's broken financial system is built on f
25.
by etr-strike 9y ago
Bitcoin has immense economics value. There's no other asset on the planet that allows me to put my faith in logic and mathematics instead of a person or institution. Meanwhile, there's a lot of people putting their faith in opaqu
26.
by etr-strike 9y ago
I chose bitcoin because for several reasons: 1. I believe in the technology approach bitcoin is taking over any other coin (I believe functionality like smart contracts should be a side chain to the main bitcoin chain). 2. It has had a firm
27.
by etr-strike 9y ago
Your “real estate” investment is propped up by the federal reserve. You were bailed out at the expense of savers. I’m glad you missed out on bitcoin. It wasn’t made for you.
28.
by etr-strike 9y ago
The TARP money was just a small fraction of the actual bailout. The Federal Reserve also drove the interest rate on your savings account below the rate of inflation (robbing you of your wealth). Artificially suppressing interest rates als
29.
by etr-strike 9y ago
Most of us Bitcoiners are skeptical of modern monetary policy and want a risk-free store of value for our wealth. Today Bitcoin is very risky, however, we believe its fundamental properties will ultimately lead to a stable place to put our
30.
by etr-strike 9y ago
The market is more free and open with Bitcoin than our own stock markets. Bitfinex and Coinbase are just two of hundreds of exchanges. There's even localbitcoins, which allows you to trade directly with the other party. The ecosyste

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