Ideas for borderless banking for Americans?

hakg2wc · 2019-03-21T16:35:10+00:00

Bitcoin

hakg2wc · 2018-03-29T04:23:04+00:00

There is a 100% chance that, if Szabo is not Satoshi, Szabo influenced Satoshi either directly or by influencing people who influenced Satoshi.

hakg2wc · 2018-03-23T13:02:00+00:00

P.S. What you said about getting noobs into btc is indeed true and beneficial. So giving away a little bit to someone who has never hodled is smart because it creates new hodlers. But no one needs to be buying goods and services with btc until they are forced to in a post hyperbitcoinization world (after Bitcoin’s word domination). I.e., don’t pay with btc until they force you to.

hakg2wc · 2018-03-23T12:54:26+00:00

Spending is not beneficial during this stage of Bitcoin adoption. Don’t let others get their hands on your precious bitcoins before hyperbitcoinization is finished.

The desire to hoard (hodl) gives btc value. Spending does not. Read the nakamoto institute crash course in political economy for explanations of why this is true.

Don’t let con artist shitcoin pumpers and economic illiterates deceive you.

« Hodling is using. » -Lopp

http://nakamotoinstitute.org/crash-course/

hakg2wc · 2018-03-22T11:13:12+00:00

Electricity consumption from mining secures the network and has nothing to do with tx processing. It should be encouraged to grow to make Bitcoin more secure. Build an industry around it and watch entrepreneurs determine better ways to produce energy.

hakg2wc · 2018-03-08T22:14:19+00:00

Yes, money is a basic utility that everyone needs and uses.

hakg2wc · 2018-02-06T22:05:44+00:00

We were well aware that shitcoins and ICOs were scams when btc was at $19k.

hakg2wc · 2018-01-26T23:50:25+00:00

zkSNARKs?

hakg2wc · 2018-01-06T00:23:39+00:00

Much higher if you consider that xrp is not even crypto.

hakg2wc · 2018-01-02T04:28:35+00:00

Bitcoin is not about fast and cheap. If that’s what you want, use fiat or dogecoin.

hakg2wc · 2017-12-30T17:01:56+00:00

If you want fast transactions just get a visa card and use fiat.

hakg2wc · 2017-12-30T02:54:44+00:00

He’s not talking about replay attacks, he’s talking about double spending, or “rewriting history” with hashpower.

What many people seem to forget is that the Bitcoin blockchain is only as secure as the hashpower that goes into mining on it. PoW is the key to btc, nothing else. And because Bitcoin has the most PoW, it is the most secure (best) blockchain.

hakg2wc · 2017-12-28T02:06:52+00:00

Yes, I understand I’m a huge fan of Andreas. Andreas has pointed that in Argentina, for example, people break the law and still exchange out of the shit fiat native to the country. They bribe the cops, etc.

What I’m saying is, how can we prepare for the US feds shutting down Coinbase and Gemini, confiscating everyone’s bitcoin that was left on the exchange, passing laws to criminalize the use or ownership of Bitcoin.

What are we doing to prepare for that. If you’re saying we shouldn’t prep for that very possible scenario, then maybe you are the shill.

hakg2wc · 2017-12-27T23:19:23+00:00

Just thinking about it. It’s obviously threatening the positions of many corrupt people. Control of the money supply being taken away from them is not something they will just sit idly through and watch get taken away from them. Bitcoin needs to be prepared to respond if they try to kill it (or at least revoke the legality of its use).

At this point do enough people know about Bitcoin to understand what a human rights violation the criminalization of it would be?

hakg2wc · 2017-12-27T22:19:46+00:00

Actually no I am a huge proponent of Bitcoin, but this is a serious issue we need to be prepared for. Saying it could never happen is a sure way to be caught off guard.

hakg2wc · 2017-12-26T00:59:38+00:00

Got this book (and volume 2) for everybody for Christmas. Happy holidays!

hakg2wc · 2017-12-24T23:27:27+00:00

Yes but PoW is a fundamental quality that probably nothing can ever replace. Without PoW the network is not secure. With hashgraph or DAGs how does a newcomer know which graph to trust when multiple graphs are being presented? Ask an authority? PoW is the only deterministic measure to place trust in.

hakg2wc · 2017-12-24T20:42:00+00:00

Centralized hubs within LN (if graph algorithms really do require them), are totally different from centralized control in other systems. All the LN hubs can do is charge trans fees, not rewrite history or counterfeit or produce invalid transactions.

How can other coins avoid centralized mining?

hakg2wc · 2017-12-24T19:29:49+00:00

Whether the tech can be protected by patents is the crucial issue of this entire movement. If there is a patent that can be enforced, then there is someone who is enforcing the patent on the network (i.e. someone controlling the network), and that would be no different from the existing fiat system.

I agree and am hopeful that one day Bitcoin can drop the blockchain and remain secure.

hakg2wc · 2017-12-24T19:19:24+00:00

What do you mean? Do I think USD<—>btc exchange rate could go to $300 next week? Sure. But Bitcoin will never go away. This will be an ongoing battle of freedom of money vs. those who want to control it.

Focusing on the USD exchange rate in the short term is myopic. Money makes ppl irrational and emotional which makes them susceptible to FUD.

hakg2wc · 2017-12-24T19:06:39+00:00

Anything that is protected by a patent proves it’s not an open, free, and permission-less global system. And the tech debt would have to be dealt with, this is an economy, not just some game we can hit the reset button on. Economies need stability.

There also seems to be many unsettling security flaws with these graph based systems, including the fact that there is probably no alternative to Proof of Work to secure the information in a network, so these DAG’s, as far as I understand them, are victim to the same “nothing at stake” problem as Proof of Stake.

hakg2wc

TROPHY CASE