unhashable

8 ms·

1.
by unhashable 6y ago
I do not know how much gold is in the earth’s crust or in passing asteroids, but I do know how many Bitcoin there are: 21 million. https://aidaily.co.uk/articles/artificial-intelligence-and-s...
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by unhashable 6y ago
“All models are wrong, but some are useful.” - George Box
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by unhashable 6y ago
Miners block rewards will be reduced in half from 12.24 BTC to 6.12. In theory this reduces overall sell pressure on BTC in a key time when Bitcoin's narrative is maturing and adoption is moving forward with institutions. When Central
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by unhashable 7y ago
Update: Fed just committed to unlimited liquidity injections through money creation. USD debasement is now a guarantee. Welcome to the new normal. https://twitter.com/apompliano/status/1238463895095869440?s=...
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by unhashable 7y ago
You missed the point. Holders of gold maintain custody at risk of physical confiscation. Holders of Bitcoin maintain custody (of the password that allows spending said Bitcoin) and are cannot he compelled one way or another. The bitcoin mov
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by unhashable 7y ago
You might find this long-form article attempting to make an argument against “bitcoin has no intrinsic value” skepticism: https://medium.com/coinmonks/bitcoin-has-no-intrinsic-value-...
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by unhashable 7y ago
You think the internet is going to be compartmentalized before USD is devalued? Fed is printing $4T this week!
8.
by unhashable 7y ago
You just described every single investment. :)
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by unhashable 7y ago
Batching by definition consolidates the throughput to fewer transactions. That's what I mean with that (unprecise) example.
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by unhashable 7y ago
https://medium.com/@100trillionUSD/modeling-bitcoins-value-w...
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by unhashable 7y ago
Bingo. Populations tend to the hardest money. Bitcoin cannot be undiscovered.
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by unhashable 7y ago
This is wishful thinking. I will be surprised if central banks don’t use the ushering in of the next monetary system as an excuse to go full-stop 100% digital. I get the sense you think this is a far off and unlikely event. I think it’s muc
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by unhashable 7y ago
So which is more likely: severe debasement of USD or the devolving of the global internet (ala an increase of firewall-ism by nation states)?
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by unhashable 7y ago
Obviously $1T is meant to by hyperbole. Still, it’s not that outlandish. $500M transferred for less than $400 on 7/29/19 - https://twitter.com/whale_alert/status/1155808847908544512?s... There are many o
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by unhashable 7y ago
Does it feel like I’m arguing that point? I’m not. Speculation is by definition gambling. Investing is also speculation. You have a thesis, and you make returns if that plays out. You lose capital when you are wrong. Also, I'm not sure
16.
by unhashable 7y ago
Bitcoin would work similarly, but with far less trust in centralized institutions. Today, central banks acts as a final settlement later upon which the rest of the financial system is built (banks, credit, etc). This makes it impossible for
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by unhashable 7y ago
This is an interesting scenario worth thinking through. If Bitcoin is forced to go split-brain temporarily, the network could coordinate to rejoin after the fact. Or, it could stay split in two. Regardless, infighting over which network was
18.
by unhashable 7y ago
Single points of failure? Bitcoin is decentralized, like the internet. It’s designed to explicitly avoid points of failure and trusting of node participants. Lots of Bitcoin has been lost. Good key hygiene should not be taken lightly. What
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by unhashable 7y ago
There is good chance that narrative re-emerges as Bitcoin proves to be consistently non-correlated. I can see that.
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by unhashable 7y ago
This is true. Bitcoin is more of bet that Keynesian monetary policy fails. It doesn’t hedge for Armageddon. Planning for a collapse of world order involves small coins, farmland, prepping pantries, home schooling, and firearms. Hey, I’m all
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by unhashable 7y ago
Absolute financial control of citizens is a hell on earth type of dystopia we must resist, thwart, and avoid at all costs. We must not go silently into that dark night.
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by unhashable 7y ago
Love that meme: https://www.xkcd.com/538/ So true too. At the end of the day, digital security must be reinforced with physical security and good opsec.
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by unhashable 7y ago
Totally. Bitcoin is not a medium of exchange (cash). It’s not useful for payments. Bitcoin is currently a bet that digital scarcity will bring back the concept of saving (SoV) so that people don’t have to invest in equities just to protect
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by unhashable 7y ago
Physical cash is not long for this world. We are rapidly moving towards always-online and fully-digital ledgers controlled by governments and central banks. You will not be able to get a hair cut unless you are an outstanding citizen and ha
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by unhashable 7y ago
What do you mean it can disappear and nobody will even notice? I can think of a few things but I’d rather not assume. Can you spell it out so I can better reply?
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by unhashable 7y ago
I see: you’re concerned with a future where the concept of an internet ceases to exist? I’m afraid money will be the least of our problems then.
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by unhashable 7y ago
Holding Bitcoin is not a semantic backflip. Do you hold the dollars in your bank account? Also: gold can easily be confiscated and it has been before - https://en.m.wikipedia.org/wiki/Executive_Order_6102 . How much gol
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by unhashable 7y ago
Are you actually taking issue with the fundamentals of my argument or just annoyed by my equating USD to a virtual currency?
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by unhashable 7y ago
Yeah, I missed the point about trusting the math that enables a decentralized network. Addressed here: https://news.ycombinator.com/item?id=22559645
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by unhashable 7y ago
To address your point more directly: many think that Bitcoin isn’t tangible because you have to trust that the network of full nodes are verifying transactions, and if they stop then Bitcoin ceases to exist. Full nodes have financial incent

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