Beejeepa

Stores-of-value aren't "actually used" nor "medium of exchange". Bitcoin Cash fixes Bitcoin, restoring its utility and will cannibalize Bitcoin's market share.

The IRS is wrong.

It's 0.001% over-inflated? So it reaches the 2020 halving earlier, and wins then too.

The market doesn't function when people can't transact freely. Price signals get distorted. When the blockchain is frozen, we don't know the actual supply and demand of Bitcoin.

Bitcoin Cash fixes Bitcoin by providing a capacity market, where transactions can cost whatever nodes / miners can compete at.

It's not only vaporware, it's uneconomical. That demo doesn't withdraw Bitcoin - it locks it up. Two transactions for every channel. Lightning Network is just another bank, a third party with fees.

Bank runs are bad when there isn't a full reserve. Coinbase says it has 100% reserves.

Bank runs are how fraudulent exchanges are caught: Bitcoin is self-auditing, and either you have it or you don't, there aren't IOUs or paper receipts.

Fractional reserve banking is a prisoner's dilemma, we all marginally benefit from the status quo of credit/debit/interest, but in a crisis, the first people to pull out win, and everyone else loses.

Bank runs are bad when there isn't a full reserve. Coinbase should carry a full reserve.

Fractional reserve banking is a prisoner's dilemma, we all marginally benefit from the status quo of credit/debit/interest, but in a crisis, the first people to pull out win, and everyone else loses.

This drives consumerism.

Why buy an iPhone X now, when next year you could buy two?

Because even in deflation, some trades are worth it.

Coinbase is going to only support Bitcoin Cash.

You still own coins on both forks, but add a step to split them to another address you control on the second fork.

I agree. PoW is critical for minting a currency. I hope (and bet) that Bitoin Cash is Bitcoin.

Sure, it will burst. The Internet Bubble burst. And here we all are.

There are fundamental flaws to paper money, and the global reserve currency: https://en.wikipedia.org/wiki/Triffin_dilemma

This is why Bitcoin is winning.

What can you use Bitcoin for? What year are you from, 2012?

So bet $20. Bitcoin can be upgraded to N-bits of resolution in the future - a single satoshi could provide all the liquidity needed in a universe-sized economy.

It's Machiavellian astroturfing by banks, nations, economists and sociologists. Fight back and get your skin in the game.

There is no such thing as a free lunch. FDIC insurance can and will fail in the largest bank run ever.

Banking is a Prisoner's Dilemma, because the first ones to escape get their cash, the middle ones deal with insurance, and the last ones lose everything.

Use always-audited Bitcoin. Readers here have an advantage of being able to understand the underlying technology.

This is correct.

The Bitcoin price will asymptotically approach its maximum - and the last people onboard will see the least amount of deflation.

It's certainly better money, and will have a lower monetary inflation rate than any other national currency by 2024.

Because it hasn't fallen yet. It will. The Federal Reserve is insolvent. As the dollar falls from global usage, it can't buy all the real assets necessary to stabilize the dollar using printed money that no one wants.

The US Dollar lost half its value in my short lifetime. Most other currencies have done worse. At a time when the US Dollar is falling in significance as a global reserve currency, and a central bank holding ~$4.5 trillion in assets, you have no doubts?

I understand SHA-256 and ECC; they are easy to trust and more trustworthy than authority. Bitcoin is the most simple thing that could possibly work; and it meets "worse is better" criteria.

What backs FDIC insurance? A haircut, or printed money?

Is the price increasing, or are their fiat currencies worth less? Hyperinflation is real, bank runs are real, and Bitcoin never fails an audit.

Yeah, nothing new about a permissionless digital-signature-secured decentralized currency being rapidly monetized in an age of global stagnation and quantitative easing / printing money.

You know Bitcoin is worth it when so much cash is being dumped in Russia, India, and Eglin AFB to faction the community. The legacy powers are being turned over.

Bitcoin is being monetized. It holds far more value than its intrinsic value, just as a $100 US paper bill is worth far more than it costs to create.

A blockchain is not a database - you're just trolling.