95 karma · joined September 15, 2018
The USDC payments are pretty tame, and on the networks they have selected performance should be pretty quick and cheap too. For example, payments via ETH Polygon L2 is ~2 cents (https://l2fees.info/) and transaction time is also a couple seconds.
I personally am glad to see them reintroduce crypto now that its matured more for stable payment use cases.
"If a money isn't proof-of-work then it implies that some people can create it without doing work" Have you seen how much work goes into being a validator? There is definitely work being done - just much more sophisticated that guessing a random value...
Agreed on crypto not having the physical limitations and on the trend of fiat to inflate. I just can't agree on the other points.
The claim PoS is not the best store of value is asinine. PoW in BTC has consolidated around a cabal of a handful of miners and the power usage is of course a well-known sounding bell for PoW apologists everywhere.
The truth is PoW was the best they had at the dawn of blockchain, then technology improved. It's really this simple and I'm baffled when people get religious about consensus algorithms. It's as if people would say we need to keep using bubblesort instead of quicksort because bubblesort was discovered first.
I would avoid just picking out BTC (which being stable in supply is prone to hoarding as digital gold and not really used as a means of commerce) and look at what other crypto has to offer as well, such as Ethereum which has a dynamic supply limit that is tied to its usage - in times of high usage such as today, it actually becomes deflationary. As usage slows, it becomes inflationary again which in theory should promote network usage.
We are essentially in an ongoing experiment of the denationalization of money and I personally think it will be fascinating how it will play out in the next couple decades.
Funny enough, as we speak, I am downloading an update for a game. It failed for some unknown reason the first time and tried redownloading now. Time will tell if it will finally "just work" or if I'll have to redownload the entire game. Before you ask, yes I am on an SSD with plenty of space and I have a pretty decent fiber internet connection.
Trying to watch friend's streams breaks half the time, files often get corrupted for downloads, and feels like every other week they change the UI layout.
Wilhelm's obsession with a massive fleet to compete with England lost any hopes of forming an alliance with them and resulted in Germany being seen as a threat. Having a large fleet puts you at odds against England no matter what - that is their last line of defense. It's interesting to think what might have happened had Germany abandoned any aims on a massive navy and focused all those resources on it's army instead. My hunch is no mis-alignement with England and a very different looking world today if that happened.
No mention of NFTs, though wouldn't be surprised if they scale back on that. I _would_ be surprised if they drop support and development for them completely.
I've anecdotally seen this where kids from rich parents take a lot of their wealth for granted and don't understand fully what it takes to build-up and retain wealth for the long-term. They usually get high-end jobs in society - CFO of company a dad started, doctor, lawyer, etc however it feels some depth to that wealth may have been lost...
How else are they supposed to address it other than acknowledging the problem, laying out a roadmap, and taking steps towards the end goal?
I guess Joe has the other 64.71%, or perhaps there are a whole bunch of other founders that I'm unaware of...
Would honestly love to see the details.
What makes you think eth stakers are apathetic?
If you follow the link, you'll see a picture of 7 people that controlled 90% of Bitcoin hashpower at the time. Remind me how that's more fair to an arbitrary holder of Bitcoin, than say, letting the holders have the power with staking?
To curb nefarious use across borders, seems like the problem may be that more exchanges need KYC laws across the globe, not just in USA, and there would need to be some interpol-like oversight.
A globally public ledger seems like a tool, not a hindrance, against "Black Money". We just need more global cooperation and oversight between governments tracking the exchanges.