fredfoobar

> First time large protests happened against Bukele in light of this law Hold up, it's a fiasco because some people protested??

> Adoption is low Generally when a new thing is introduced, adoption tends to be low, it doesn't immediately blow up. However, I would like to know how you concluded that adoption is low, where are you getting your metrics?

> DUI fraud is through the roof Driving Under the Influence? What's the implication here? I don't understand how it's related to bitcoin.

It feels like you're reaching to conclude that it was a "fiasco", if large protests and disapprovals are a measure, the US is a fiasco (election protests, capitol storming, whatever is happening right now), does this mean that the US/Dollar is a fiasco?

He is doing these takedowns in an attempt to help his company. Someone else is probably "selling" his company's services.

If people complain about crypto folks "talking their book", then the anti-crypto folks are also guilty of the same if their line of work is threatened by crypto.

If your grievance revolves around "bad things" happening in a new space, therefore new space is bad, I can't take you seriously, I will be suspicious. That's like saying early internet was mainly used for pornography and other illegal stuff.

Why is El Salvador a "fiasco"?

It's not a consumer product, you can achieve 100% recycling by defining a process for it.

You talk as though it's a trivial problem.

Bitcoin is surprisingly easy, I'm currently working on a similar thing, but in Pharo/Smalltalk (I took it up as a project to learn Pharo). It's been pretty nice so far.

It's actually a war on who makes money off of the drugs, opioid crisis comes to mind.

It sure does sound like it. But if you want to put some substance behind your thoughts, I recommend this book: https://www.amazon.com/Chaos-Making-Science-James-Gleick/dp/...

This fits in perfectly with my "bubbles are everywhere" thesis. +1 insightful.

What happens when eth switches to PoS? everyone will be incentivized to hoard and stake to become a validator, what will incentivize spending?

> ETH is not deflationary and it is a good candidate to be used as currency.

I'm guessing you're opposing EIP1559 then

So, what you're talking about is a USD market consensus on another currency/entity (i.e. people who currently work with USD primarily arriving at a consensus on the price of bitcoin), run a simulation in your head if you will, something interesting and fairly complex comes up, there's a lot of information asymmetry around it, what do you think happens around the consensus of it as time progresses? (does the information asymmetry decrease or increase?)

We can do this soon in El Salvador (and some pockets in the US too).

The thing is, this is a strange argument, you want a sudden world wide adoption, like, tomorrow every biz owner wakes up and decides to accept bitcoin, so that you can buy your coffee at your local starbucks, have you thought through this? how does the total adoption happen what steps should happen before.

Monero and other crypto folks seem to rush in whenever Bitcoin is being attacked for something. I find it fascinating.

What do you mean "actual value" where is that value coming from?

Can you (or someone else) please explain this analogy? I didn't understand it at all.

I'm not a Bitcoin-maxi, calling someone a "bitcoin-maxi" and dismissing their argument isn't a valid way to counter. Kindly explain the tropes to us and enlighten us why that is provenly false. I'll read it, I promise.

This is a great comment paul_f, keep it up. You're adding a lot of value on HN.

If we had a way to do this, why would we just limit it to crypto?

> The Bitcoin chain fork where the bug manifested wasn't reverted. Instead, a chain fork where the bug didn't manifest outgrew the one that did, and is now the canonical fork.

That's right, thank you for adding the missing nuance.

Electricity is the best form of energy to use as the basis for Proof of Work, because there is no pre-requisite on how to generate the required electricity.

compare: electric cars vs ice cars, electric cars can also end up consuming "dirty" electricity from coal fired plants, but that's an option vs. ice cars.

> The blockchain wasn't mutated after the DAO hack. This has been well reported.

https://web.archive.org/web/20201214170136if_/https://www.re...

from another post: https://news.ycombinator.com/item?id=27202347

> if PoS chains are vulnerable because you can hack exchanges and use their coins to attack, then PoW chains are vulnerable because you can hack exchanges, sell the proceeds to buy ASICs (or just buy the ASIC company), and use those ASICs to attack the PoW network.

Which one is easier to do and get away with?

> But at scale you need lots of nodes/computational power and therefore lots of money. It doesn’t really make a difference whether you buy graphics cards in a pow world or ethereum in a pos world, you need lots of capital to be influential.

You're missing the energy part of the equation (opex), that is continuously required.

> (And there's BTC holders with more than 0.3% of all BTC)

And yet, they can't stake their Bitcoin gain influence in the network. They're just another user in user-land

I want to add to this, some additional material, anyone interested in the current state of DeFi can understand this

https://medium.com/coinmonks/demystify-the-dark-forest-on-et...

Except, most people chose to move their stake from one system (USD) to another (ETH) and now, you are a powerful person in this new system. If you owned more stake in the Bitcoin network, you are still a user.

He's talking about the Financial System, not the Bank (akin to a node)

full node != miner

Run your own full node,

easiest option: getumbrel.com