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Comment by easymovet | Hacker News Reader

UX has been a main focus of Bitcoin ever since Lightning made scaling possible. Checkout out the Strike app for seamless bitcoin (lightning) payments https://strike.zaphq.io/

Who cares? Anyone who feels like their purchasing power isn't where it should be is either underpaid, or a victim of central banks diluting their dollars with printing.

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Meanwhile 3 shady guys in the non-extradition offshore are printing 100 million dollars per months of their toilet paper tokens, inflating price of every other token, the only auditing firm dropped them immediately after looking at their dealings, and that is praised as a modern money way. Revolutionary even.

> victim of central banks diluting their dollars with printing.

So, nobody in the EU or North America, then.

Perhaps a better threat scenario would have been "victim of banks confiscating their deposits", which is a much more realistic risk for people in the EU:

https://www.cbc.ca/news/business/cyprus-bank-account-tax-put...

(Also, the grandparent post perhaps should have given some context to the statement "Lightning made scaling possible", such as the fact that Bitcoin originally supported 32 MB blocks of transactions, before being "temporarily" limited to 1 MB. Alternative blockchains have managed without this artificial restriction, and without relying on complicated second-layer "solutions" like Lightning.)

The probability of a bank run is null when compared to the probability of a BTC provider tanking/getting hacked/actually being a fraudulent criminal scheme.

Banks in Cyprus got recapitalized with some amount of Russian money during the 2011-2013 Eurozone crisis, or at least that's the commonly known narrative. It was basically a convenience crackdown on a fiscal paradise within the EU. If you read the last line of the article you have linked it says:

European leaders wanted to limit the size of the rescue loans — which are backed by European taxpayers — to €10 billion. Leaders were also reluctant to bail out Russian depositors whose funds may be the result of tax evasion, crime or money laundering.

Additionally, there are sanctions in place since the 2014 Crimean crisis.

https://www.themoscowtimes.com/2019/01/10/cyprus-no-longer-m...

It's true that there hasn't been much inflation in CPI, but there's no doubt that all the printed money has inflated asset prices.

In Germany, house prices have doubled the last 10 years.

In the US, stocks are 187.8% market cap to GDP.

But please, tell us more about how there's no inflation.

Well, I think diluting is actually a pretty good word to describe what is happening. It's not really inflation. It's more about rising inequality. Money arrives on the stock market but it doesn't arrive in the job market. The result is an increasingly growing imbalance. Publicly traded companies and their owners greatly benefit meanwhile everyone else is being left behind.

Right, this is surely more disastrous than everyone holding onto their bitcoin because it will be “worth more” in a year by design. /s

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