cyphertruck

This requires too much trust of your service, and I don’t see any significant benefits.

If you want to give someone bitcoin, just send some over lightning.

No need to add complexity and trust.

Love Norm. Very unique takes. This will be interesting.

Norm invented what he calls the perfect joke: where the setup and the punchline are exactly the same sentence.

Best example I could find: Lyle Lovett and Julia Roberts were divorced today. The reason: he’s Lyle Lovett and she’s Julia Roberts.

How is being down a little bit on a small Bitcoin investment making it any more in danger of default?

The problem with fake news is it sounds real.

Only in clown world is stacking hard currency “shenanigans” and borrowing unlimited billions from IMF (always with strings to keep them poor) is “responsible”.

That is exactly correct. And proof of work solves a problem that was thought unsolvable. So no other solution is likely to appear soon. None yet. (Proof of stake just recreates the problem.)

Do you think hair dryers should be banned? Are clothes dryers indefensible? They all are unnecessary- just hang clothes up.

And use dar more power than bitcoin.

Satoshi has been selling bitcoin to pay expenses every year. You just don’t know it because “Satoshi’s coins” is a myth. He wrote off the identifiable ones but still had years to mine cheaply.

Bitcoin is not ab attack in banks but on inflation.

It is undermining government ability to create poverty and oppress people.

How will taxes improve the environment? They will give politicians more power to oppress, snd since governments are the largest polluters in the world the environment will get worse.

Which they will use as an excuse for more taxes.

See the pattern?

——

This comment has two further comments, both of which ask questions. But since this comment is heavily downvoted, I cannot reply to the replies to answer the questions.

In short: no such thing as “negative externalities”, thats just make-believe to whitewash oppression and poverty creation. Taxes are not a market signal by definition. Its interesting how blithely people accept using violence to force others to comply with their wishes.

If you really wanted to reduce CO2 you would support safe clean nuclear. But CO2 isnt causing warming- its historically low, earth started at %100 CO2. Plants evolved to need levels 5 times higher than present. Increased CO2 would improve the environment. We had an ICE AGE at 10 times higher CO2 then now. ETC.

Unfortunately Government propaganda has replace science education.

If that was the goal, the lightning network is a far better solution, mire privacy focused too.

The lure if getting rich by creating your own money is irresistible and thus corrosive. Even the most principled person will have difficulty ferreting out all the wats it undermines that integrity.

Meanwhile bitcoin serves that same purpose and much mire efficiently with lightning.

Moxie just bought a $5M house in LA.

The tulip bubble is a myth. But the funny thing about bubbles is they have a blow off top then deflate.

Bitcoin has had 4 blow off tops and is at %200 of its last one.

Not fitting the pattern.

He’s right that ethereum is centralized, and “web3” even more so. If AWS disappeared Ethereum would too.

It’s hilariously wrong to say that paying for things with bitcoin is no better now than in the past.

The country of El Salvador adopted it as a currency and every merchant has the option of easily taking bitcoin via lightning network there— and everywhere else as well. Adoption around the world is growing rapidly. It hasn’t yet broken into mainstream awareness yet, but the graph is exponential.

Lightning is one of those technologies that when you use it you feel like “wow it really is the future!”

This has nothing to do with libertarianism.

Author is just whining about a scammy hype driven ponzi-esque scheme built on a fraudulent fake “cryptocurrency” and claiming it is libertarianism.

This is a strawman argument.

This article is fake news. Bitcoin addresses are not identities and this “%1” are custodial services like exchanges.

The reality us, with deeper analysis you can see that bitcoin us widely distributed and getting mire widely distributed over time.

This is contrary to the dollar where the cantillon effect means the rich get richer and everyone else gets poorer.

Bitcoin isn’t in a bubble on any time scale longer than 4 years. Bubbles don’t re-inflate.

The irony is that this article is correct for “crypto” but not Bitcoin. Every “crypto” could be better done with a database.

But Bitcoin allows journalists like Wikileaks to be paid without it being censored.

You can call that “crime”, but your definition of crime doesn’t comport with natural law.

And censorship resistant money breaks the stranglehold of theft via inflation from the central banks.

It eliminates the primary cause if generational poverty.

I know this site is inhabited by government worshipping authoritarians, but bitcoin will fix that too, eventually.

The most amazing thing about bitcoin is that it turns every disadvantage to an advantage.

For example, the bias you are talking about means that the open minded and more virtuous people will adopt bitcoin earlier, and those who profit from the existing exploitive system much later.

This produces a massive wealth transfer from evil to good.

The main use case in El Salvador is having instant payments better than credit cards without needing a bank account (which few non-corporate merchants can get)

But the main use worldwide is remittances without paying %30 fees.

Bitcoin’s goal was a censorship resistant form of P2P electronic cash. (Don’t get hung up on those terms- they are terms of art.)

It has completely succeeded in that. In a decade it has never been successfully censored, it remains viable P2P cash and in fact has scaled in capability dramatically.

Now you can trustlessly transfer $1k from one phone to another in milliseconds across the globe at effectively no cost.

That is the best cash ever.

And no government or corporation can censor it like they did to Wikileaks.

A side effect of its security approach is the coin limit which has created scarcity and a virtuous cycle whereby early adopters gain relative wealth that helps fund continuing development.

Bitcoin has completely succeeded on its own terms, far beyond its intended scope.

It is now in the early stages of remaking the world in its own image.

I know that likely few of you can see that, but it is already a national currency, and soon the trickle of adoption will become a flood as bitcoin incentivizes a speculative attack on the dollar and every other fiat currency.

In the process it will destroy the funding mechanism that has kept the world at war for a century, and massively increased poverty.

War is over. If you want it. Maas theft of poor peoples savings via inflation is over.

With Bitcoin.

PS: Blockchain/NFTs/Ethereum and every other shitcoin are scams. Beware.

What you are describing is corruption. It’s actually a crime. But government will never hold government prosecutors or judges to account for corruption that favors government interests.

Savings are not supposed to be stolen by the central bank. “Hoarding wealth” is actually how society benefits the most.

You said you aren’t an economist, but you have been taught what you know about economics by communists.

They live paycheck to paycheck because the central bank has enslaved them.

It’s not Adam. Adam was “late” to Bitcoin. Saying it is Adam is a psyop from some anti-bitcoin types. I’ve read the code and Adam’s code and interacted with Adam a great deal and read everything Satoshi wrote.

Of course he isn’t Satoshi. Satoshi isn’t a big mystery, but the person(s) deserves the anonymity they can maintain.

Bitcoin is the one true thing that has not been corrupted in this world, despite the decade of FUD thrown at it.

Bruce however has shown my esteem for him was misplaced, worse by linking to WIRED, which long ago became an ideological propaganda site with no interest in advanced technology.

Bitcoiners would love a good anti-bitcoin argument.

It’s a tragedy nobody has any.

That additional footage is cheap too when measured against the costs of the salary of the additional employees you need.

In fact, offices are cheaper because you don’t need to over staff by %100 and incur all that communications overhead.

You undoubtedly have a habit of claiming your uninformed opinion is fact and ignoring decades of research to the contrary.

Cutting performance by %70 to save %15 in costs is never going to be economical.

An environment that lets you focus is literally a tool you need to do the job. Focus is literally the job.

That you think this is about whether people like some floor plan or not tells me you are speaking from uninformed opinion lacking experience.

True but irrelevant to the fact that this guy is rationalizing the reduction in performance (as independently measured by researchers) by ~%70 in favor of reducing costs %~%15.

And then he blames the victim and you fell for it.

I love it, you dismiss long established, well researched logical conclusions based on understanding of software development and backed by studies…in favor of your anecdote about an engineer you failed to manage properly.

In my experience people who make extraordinary claims about how bad the “guru” employee is are just ignoring his actual contributions because he is focused on getting things done rather than shouting “yes sir” to their arbitrary and clueless demands.

Worse they think this anecdote justifies destroying the productivity of the entire company.

And yet here you are repeating this exact cliche.

It is still not logical.

The 2-3X factor includes the lower return from administrative tasks. For code writing it is probably 10X - 15X.