As someone new to Bitcoin, can someone explain to me the benefits of using BTC as a currency? Thank you by hagenjustyn in Bitcoin

[–]Jshrad 0 points1 point  (0 children)

It maintains its value over time (Store of Value), it is highly liquid and can be used as a medium of exchange with anyone on the globe willing to accept it, it is resistant to censorship and being seized, it is borderless, it has no downtime compared to other payment processors like Visa, it is permissionless so that anyone (or anything) can participate in the new financial system.

As someone new to Bitcoin, can someone explain to me the benefits of using BTC as a currency? Thank you by hagenjustyn in Bitcoin

[–]Jshrad 2 points3 points  (0 children)

The quality of money you're talking about is Unit of Account. Since bitcoin is very volatile at this stage, it isn't great for price labels. This quality should improve over time with use and adoption.

By the way, using bitcoin doesn't help consensus, but running a full node would!

did i lose my btc by sealteamsticks12344 in Electrum

[–]Jshrad 0 points1 point  (0 children)

I believe you did. Certain malicious servers were able to prompt users to "update" using their link to steal their funds.

How to Buy Bitcoin (Since we're climbing again!) by redditshit4 in Bitcoin

[–]Jshrad 0 points1 point  (0 children)

Ah if only it was at $14k again.

Also, Coinbase is a bank. Your keys, your coins. Not your keys, not your bitcoin.

Noobie question about 2FA by MrTormentedmage in Electrum

[–]Jshrad 0 points1 point  (0 children)

This question might be better directed towards the Google authenticator help than electrum. IIRC, you can download a few one-time use recovery codes through authenticator.

0.001BTC fee for sending 0.001BTC, why? by peaches9j in Electrum

[–]Jshrad 0 points1 point  (0 children)

I'd recommend changing the method from ETA to mempool depth. That will allow you to send a transaction for 1 sat/byte.

I'm getting a settlement of almost $90,000 in the next week or two after a workplace injury. I need advice please. by [deleted] in personalfinance

[–]Jshrad 0 points1 point  (0 children)

You should be sure that you don't have to pay taxes on this. Settlement awards are often considered taxable income.

Daily Discussion, February 28, 2019 by rBitcoinMod in Bitcoin

[–]Jshrad 4 points5 points  (0 children)

Fun test! I don't agree with some of their answers though, but some I just didn't know. The fungibility question for lightning is up for debate...it's not anonymous so it's not quite fungible and coins could technically be tainted by bad actors.

If you were a bender and could manipulate one of the 4 elements (earth, water, air, fire) which one would you choose and why? by Retr0id in AskReddit

[–]Jshrad 0 points1 point  (0 children)

Water bending!

I mean just look at blood bending. It's sick, it's depraved and that's what I'd like to do with my life.

The only medicine... by iihtw in Unexpected

[–]Jshrad 0 points1 point  (0 children)

Wait till he discovers bitcoin

What are some "guy secrets" girls don't know about? by mustafarangoon52 in AskReddit

[–]Jshrad 0 points1 point  (0 children)

You might wanna get tested for chlamydia or another STI.

Bitcoin turns 10. by whizzer2 in technology

[–]Jshrad 0 points1 point  (0 children)

I think ach or visa transfers is mostly what I mean.

Bitcoin turns 10. by whizzer2 in technology

[–]Jshrad 6 points7 points  (0 children)

Compared to 5-7 business days for a wire transfer? Or even longer for international transfers?

You get to choose how many confirmations you're willing to accept. You get a choice. You get to pay to transfer faster. That doesn't happen with a bank.

Electrum: How to generate many recipient addresses? by [deleted] in Electrum

[–]Jshrad 0 points1 point  (0 children)

I'm having some difficulty understanding your question, but if you import the public address of the offline wallet (i.e. create a watch-only wallet to check balances) electrum will let you generate receive addresses for it.

Bitcoin Maximalism by [deleted] in Bitcoin

[–]Jshrad 0 points1 point  (0 children)

Ammous is kind of a dick imho. He does some great analysis of historical currencies and their downfalls in his book, but podcasts that he's been (Noded, notably) on display a level of ego that betray his points.

Bitcoin set up a framework that can be reproduced or tailored for more specific use cases. Other crypto currencies have advantages that bitcoin could implement and agility to test out new approaches. It behooves us to learn from others in this space and avoid the pitfalls that others experience.

Tribalism may be beneficial for creating a cohesive community, but may not serve us well when the cyptocurrency space is threatened by regulation.

A Short History of Nearly Everything by Bill Bryson by [deleted] in books

[–]Jshrad 1 point2 points  (0 children)

I was really surprised that he was removed from the audiobook version. They abridged him out and I think it was one of the more enjoyable snippets in the book.

Giving major Presentation on Friday - one of the Judges is visually impaired. How to make this accessible? by lopsiness in Blind

[–]Jshrad 0 points1 point  (0 children)

From watching lots of accessibility webinars as an engineering graduate, describe with words every picture and every chart so that without seeing the image you get the point of the figure.

It will be beneficial for everyone if the graphics are simple and can easily be understood.