iexplainbtc

6 ms·

1.
by iexplainbtc 6y ago
What I meant is that it's not a hassle free process. You'll be reported to the IRS (or equivalent) and even be asked to bring an "approved intermediary" in some EU countries. I wish I was making this up.
2.
by iexplainbtc 6y ago
Hard and soft real time depend entirely on the context. An example of hard real time is flight control. The whole sensor - actuator - decision process must happen within the given threshold.
3.
by iexplainbtc 6y ago
You can't go to a bank, ask them to give you all your money in cash and hide it under a mattress (not in most countries at least). You can go to Coinbase and simply transfer all your funds to your own wallet in a matter of seconds.
4.
by iexplainbtc 6y ago
I don't understand all this confusion about what RT means, this is the definition of a RT system. If you can't complete the computation within the given deadline whatever partial result is discarded and the computation starts fr
5.
by iexplainbtc 6y ago
These live streams are anxiety inducing for us, I can only imagine how they must feel!
6.
by iexplainbtc 6y ago
That live stream was epic! It was great to see them so happy :)
7.
by iexplainbtc 6y ago
Proof of work was not invented (or envisioned to be used with digital currencies) by Satoshi. It's been around since 1993. I can't really find a reference to prove what I claimed so I would agree I might have been misled to think
8.
by iexplainbtc 6y ago
The environmental impact of "Proof of Work" could have been a problem but the inventors did think about that and realized that mining can be done pretty much anywhere, using renewable resources that would otherwise be untapped. As
9.
by iexplainbtc 6y ago
> How's GME performed as a store of value since WSB pumped? It's just as scarce as it was 10 days ago, but apparently not guaranteed to go up after all... I was simply responding to what you said earlier: > The same does not
10.
by iexplainbtc 6y ago
Again, I apologize. It was a knee jerk reaction to being told I don't understand something without proof. I believe that also violates numerous guidelines: > Be kind. Don't be snarky. > Please don't post shallow dismiss
11.
by iexplainbtc 6y ago
Apologies @maclured. Thank you @dang!
12.
by iexplainbtc 6y ago
> That energy is used in production, not securing the existing stock of gold. Safes and transportation equipment have to be built too. And we already have layer 2 infrastructure that minimizes the amount of energy spent to secure transac
13.
by iexplainbtc 6y ago
You fail to understand 3 things: 1. There is no such thing as "intrinsic value" and I explained clearly why in a different reply to your comment. 2. What goes up is the value of land , not houses . If houses themselves were valu
14.
by iexplainbtc 6y ago
> The very fact it can be fabricated into something of value gives it some intrinsic value. That's a plain contradiction. Oil is valuable because there is demand for products manufactured with it. In a world where there&#x27
15.
by iexplainbtc 6y ago
> Gold does not take the electricity resources of a large country to render it secure and make transactions possible. Except it does [0]. > Gold is pretty to look at and can be made into jewellery, not intrinsically worthless. The fir
16.
by iexplainbtc 6y ago
Most subjectively "useless" objects are used as a store of value. Only 7/8% of gold is used in the manufacturing industry, the rest is sitting there with no active purpose other than existing. Same goes for collectibles (you
17.
by iexplainbtc 6y ago
> all they have are a load of strings of characters Most things valuable nowadays are strings of characters. It's not the byte sequence that's valuable, it's what it represents. Bitcoin is, conceptually speaking, an asset
18.
by iexplainbtc 6y ago
Extremely unlikely. Bitcoin has been around 12 years and it's just now starting to go mainstream. Most people still have no idea what it even is. You can count the number of publicly traded companies that have Bitcoin in their treasury
19.
by iexplainbtc 6y ago
Yep and that's Bitcoin's network effect. There is demand for Bitcoin. 2017 was the year of retail interest, 2021 is the year of institutional interest. It's easy to see that the price is now uncorrelated with the retail int
20.
by iexplainbtc 6y ago
I'd rather invest into something that is highly volatile but almost certainly appreciates over time rather than something that depreciates at a predictable yet increasing rate. We could discuss the fact that BTC might be overpriced o