etr-strike

Bitcoin has the potential to serve as a subsidy to green energy. A significant amount of wind energy in China, for instance, is simply burned off as waste heat. Over 30% in some cases. This waste happens when there's no demand for the excess energy and no where to store it.

With Bitcoin, such excess energy can be devoted to mining. The bitcoin generated by that mining can then be sold and serve as a subsidy to the green energy producer. This subsidy changes the numbers around green energy and makes it even more profitable, encouraging more such green energy projects to be started.

It's easy to point at proof of work and claim it's a waste. I encourage you to dig deeper, however. Proof of work enables us to radically change the financial system we have today and to potentially make it more efficient.

Yes. In my opinion the diversified international market is being propped up by coordinated actions by the worlds central banks. These markets lost more than 50% of their value in 2008. Central banks are keeping them afloat at the expense of people trying to simply save their money and not take on debt.

Janet Yellen recently expressed concern regarding the amount of debt in the economy. Apparently giving out loans at rates less than inflation causes a lot of malinvestment.

Those I know investing in Bitcoin do so because it's the only asset that exists outside the system we have today. It's the escape hatch. The volatility of course concerns us, but we believe in the fundamental ideology and in the long term believe it'll change the world. The monetary policy we have today is, quite frankly, insane.

Random fact: Ripple, IOTA, and Stellar Lumens are not decentralized and trustless.

Sorry you can't see the value and potential of Bitcoin. I hear there's a new social media platform selling ads; you should keep your money with them.

History will think of you the same way we think of the Xerox executives handing Apple some of the most important technology of our generation.

Plenty of us find value in a currency that isn't controlled by a central authority and isn't subject to inflation. We're betting others who value saving over risking their savings in the stock market will also value such a currency.

Plenty of us believe there's potential in programmable money. Certainly more potential than yet-another-social-media-platform-selling-ads.

You're welcome to dismiss Bitcoin as a bubble. You don't, however, speak for everyone who finds legitimate reasons to get involved.

An increase in blocksize means an increase in propagation delay. Too much delay and miners who are closest to the most recent block get a head start mining the next block. Mining is suppose to be a lottery, not a race.

Research done on the matter shows that for each kb above the current 1mb block, 80ms of delay propagation is added.

I hate to break it to you but none of the existing cryptocurrencies know how to scale transactions yet. There are, however, many proposed solutions. Bitcoin is aggressively pursuing those solutions.

The worst proposal, increasing blocksize, is not currently being considered because of its impact on centralization.

Glad I found the person who is able to speak for everyone who is buying.

Some people are speculating. Some people are believers. No one knows if it's a bubble. And you don't know the reason why people are choosing to buy.

The Ethereum network is imploding under its own weight. Running an ethereum node has become quite expensive and requires very state of the art hardware just to keep up. There’s a reason bitcoin chose the constants it did.

Who are you to speak for all the people buying bitcoin? Of the people I know buying, many do so because they believe in the tech and disagree with modern monetary policy.

Much smaller amounts compared to the fraud taking place during 2008.

Banks aren’t giving loans to buy bitcoin.

Most people also leave stocks they own with their brokerage. In fact, they don’t even realize it’s the brokerage listed as the owner of their shares and in all likelihood the brokerage has loaned them out to short sellers and is earning interest on them.

What’s your point?

The real estate bubble of 2007 was only able to happen because of the cheap money the fed made available. The vast amount of bitcoin is paid for from savings, not debt. Meanwhile, Yellen just warned that there is excessive amounts of debt in the economy again. Money has been made available at near 0% interest rates for a decade. There’s definitely a bubble out there, but it’s not bitcoin.

As I said, you owe your gains in the market to the central bankers. People who didn’t want to risk their life savings in the market suffered due to inflation these last 10years. People who had the luxury of investing in the market benefitted at everyone else’s expense. The policy of keeping stock indexes inflated is directly responsible for increasing inequality.

The next time a significant market correction happens, those of us who value honest saving will have a place to hide. The fed won’t be able to save you at our expense next time.

The S&P only gained because the fed bailed it out. Thank Bernanke and Yellen for your asset price inflation.

For the first time in history people can decide which characteristics they desire in their money.

People look at bitcoin and see money that can be sent anywhere without needing approval from anyone. They can store their money themselves. They can program their money. They know the supply of their money can’t discretely change underneath them.

Some people are opting to change their dollars to btc. Some are opting to hedge a small amount into this new system in case recent monetary experiments explode. Some people are speculating (as they do in forex markets today).

Just because more people want to explore this brave new world doesn’t mean it’s a bubble.

My bad, I thought we were comparing global decentralized and trustless systems.

What existing “normal” systems?

“Bitcoin cash” is a name chosen to confuse newcomers and attempt to steal the bitcoin brand. The CEO of bcash refers to Bitcoin as “SegwitCoin” and their official /r/btc subreddit regularly claims to be the real bitcoin. Bcash is an appropriate name for the altcoin to eliminate confusion.

Because miners on the other side of the world don’t hear about the latest block until much later than other miners? Miners who hear about it first get a head start mining the next block. If the delay is significant, you get a single mining cartel.

Mining a block is suppose to be a lottery, not a race.

Never heard of it. I suspect their claim is either bogus or their coin is a database.

Of course there’s a CEO. Here’s an official statement from him: https://falkvinge.net/wp-content/uploads/2017/11/letter-from...

Your link is a news article and not actual research. The details of their specific test are barely provided. Please provide actual research as I have provided you.

The BCH blocks are all very small. Go look at their blockchain stats. Most blocks are 10kb in size. The network is barely used. Once they start actually mining big blocks we’ll get some real data. I think it’ll be very interesting to see, tbh.

“Bitcoin cash” is a name chosen to confuse newcomers and attempt to steal the bitcoin brand. The CEO of bcash refers to Bitcoin as “SegwitCoin” and their official /r/btc subreddit regularly claims to be the real bitcoin.

Bcash is an appropriate name for the altcoin to eliminate confusion.

This news article doesn’t tell me anything other than if you have a few state of the art computers geographically close all connected to a state of the art internet connection they will maybe be capable of mining 1gb blocks.

If that’s your idea of research, best of luck to bcash.

You continue to ignore the actual research.

http://www.tik.ee.ethz.ch/file/49318d3f56c1d525aabf7fda78b23...

The above directly demonstrates how block size results in significant propagation delay.

I ask you again: can you show me the research which demonstrates increasing blocksize won’t result in significant propagation delay?