Hacker News Reader

doomrooton Nim receives $100k in Bitcoin donations

How about $1 billion? Irreversibly, in 30 mins, for 10 cents? Doubt it.

doomrooton Nim receives $100k in Bitcoin donations

10 cents?

doomrooton Nim receives $100k in Bitcoin donations

No you wouldn’t. Your clearly just want to pump your bags.

doomrooton Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

Forbes is reporting[0] that they are using BitGo. FYI Salvadorians are not required to use chivo at all. The interoperability is the exciting part not chivo.

[0] https://www.forbes.com/sites/jonathanponciano/2021/09/07/el-...

doomrooton Ask HN: Practically accepting cryptocurrency for businesses without middlemen?

Btcpayserver is by far the best open source solution in the space.

doomrooton El Salvador's Bitcoin use grows but headaches persist

This is true but not in the way you’re implying. El Salvador wants to attract bitcoin tourists. To spend bitcoin in the US it’s a taxable event, not in El Salvador though. If you are in your 20s with a few bitcoin you can live like a king in El Salvador for a few months and pay 0 capital gains.

doomrooton Twitter launches Bitcoin tips, NFTs, recorded Spaces, creator fund and more

I know this is a tongue-in-cheek comment but I’ll respond. Currently, no. To receive bitcoin tips you must have a kyc’d strike account.

doomrooton Cryptocurrency is something people tell lies about in hopes of getting richer

> Bitcoin itself is incredibly volatile.

Largely in the right direction.

doomrooton Cryptocurrency is something people tell lies about in hopes of getting richer

Why does the bitcoin blockchain need to be used for normal transactions? Do you not think a neutral payment rail/unit of account between nation state level actor’s could be valuable?

doomrooton Why Monero

Bandwidth is the bottleneck not disk space. I fear that a lot of projects are moving to layer 2 too late. Layer 2 makes bitcoin so much more usable that as a result more hobbyists are running L1 nodes.

doomrooton El Salvador’s new Bitcoin wallets could cost Western Union $400M a year

I agree, it also forces interoperability. Regardless of what you think about bitcoin the asset, if it decouples the sender and receiver’s payment technology it might all be worth it.

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

If you’re worried about it denominate it in USD? I don’t see why the problem is here.

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

You have the first part right, but to insinuate that lightning is not using the bitcoin blockchain is entirely wrong. In the case of lightning, the bitcoin blockchain is only used in a dispute over funds. This is how you properly scale a decentralized blockchain.

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

https://bitcoin.org/bitcoin.pdf

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

Generally speaking banana republic is an offensive term to those living the states you’re referring to.

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

Malicious in what way? Do you mean the software? The software has been developed in the public for 10+ years.

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

The mempool is relatively empty to fees are pretty minimal at the moment. But you are mostly right about holding balances on the app on a centralized database. However they are partnered with large lightning payment providers like Strike to make bitcoin transactions over the lightning network to non-government wallets.

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

Because bitcoin is by far the most scalable decentralized censorship resistant cryptocurrency. That isn’t a popular opinion here but it’s true. Improvements to the protocol are slow and often boring. The kind of thing that countries want in a cryptocurrency.

doomrooton El Salvador adopts Bitcoin as official currency, first country to do so

Financial sovereignty

doomrooton How does one get close to mastering software engineering?

Sounds like you need to quit your job. I hear they’re paying new hires a lot.

doomrooton OnlyFans to block sexually explicit videos starting in October

https://www.google.com/amp/s/www.circle.com/blog/greater-tra...

Do some googling before commenting please.

doomrooton Poly Network hacker returns $258M after stealing $600M

Bitcoin fees would simply double if that? Also one of the benefits to a mature proof of work system is that miners incentives align with the success of that currency. Imagine spending thousands of dollars on special purpose hardware only to attack the only system where they are useful. Bitcoin miners are bitcoiners, people seem to forget that.

doomrooton Ask HN: What is the HN of Cryptocurrency?

https://stacker.news/ Is really fun if you’re interested in primarily bitcoin.

You can authenticate yourself with a tiny tiny bitcoin payment over the lightning network.

doomrooton Coinbase Drops Promise of Token’s Cash Backing That Wasn’t True

You won't like the future.

doomrooton U.S. Senate Vote in Favor of Amendment That Threatens Crypto Industry

> Custody doesn't have an agreed-upon definition when it comes to crypto.

This is not true, custody is very well understood when it comes to blockchain assets. Legal definitions of ownership are another question altogether that do require continual legislative attention, see Wyoming’s work in this area.[1]

You’ve also repeated the sins of the top comment by glossing over the actual issues with this provision by focusing on facts that almost everyone in the cryptocurrency space are in total agreement on.

> Tether and Binance are exemplars of pathological noncompliance.

The amendments to this provision are focusing on who should be excluded from these new requirements, of which Binance & Tether (or terms that could be construed to mean Binance or Tether) are nowhere to be found. The exceptions focus on miners, node operators, noncustodial software providers, and alternative consensus mechanism validators.

[1] https://www.google.com/amp/s/slate.com/technology/2021/06/wy...

doomrooton I, Token: The untold story of the hole in Bitcoin's heart

This is a well structured comment and much of the reason I still spend time on this site. Thank you.

doomrooton Cryptocurrency is like taking the worst parts of today's capitalist system

Bitcoin

doomrooton Cryptocurrency is like taking the worst parts of today's capitalist system

Don’t people who play video games screw over anyone who wants a graphics card to render 3D graphics for movies by your logic?

Have you looked into how strike.me is using Bitcoin? It’s essentially a Venmo/cash app competitor that is transacting over the bitcoin lightning network. So you keep your balance in usd but because lightning provides instant transactions when you want to spend to another lightning user from strike they will buy bitcoin at the current price and send the transaction on your behalf or vice versa. What’s cool about this is that you don’t know anything about the other end of the transaction. I believe this is the direction Dorsey wants cash app to go in.

doomrooton Ethereum London Mainnet Announcement

Do you mind me asking what it costs to run a main net validator?

Also how do you know the number of validators is correct? In other words can’t that be Sybiled?

doomrooton Ethereum London Mainnet Announcement

Doesn’t that seriously centralize the network overtime?