Search results

I can say for myself that Duke's assertion does not apply to me, but there are some interesting parallels between cryptocurrencies and languages in some ways, as both are examples of networks and will tend towards a long tail distribution. From a purely functional point of view, the optimal...

I've linked it before, but in case you missed it, the same channel has a fairly in depth 25 minute video about bitcoin in general which is also excellent: https://www.youtube.com/watch?v=bBC-nXj3Ng4

And as for tether, I wouldn't like to hold any. It's the first significant example of a pegged crytpocurrency and might be the first good demonstration of why that's a bad idea. I wouldn't touch Bitfinex with a barge poll either. If tether is fraudulent it will probably be bad for Bitfinex, it...

You can of course take it one step further and say that the 1k euro is not value realised until you spend it on something tangible that add value to your life, after all there is no guarantee on its future worth in real terms.

Great to hear so! You're mixing two different aspects here as the asymmetric cryptography being used for wallet addresses is a completely sepaarate thing from the hashing done for mining. Let's start with the public/private keys, your general idea here is correct: The first thing I'll say is...

It's not just crypto either. The internet being global is in many ways incompatible with legacy geographic borders, leading to regulatory arbitrage all over the place. Brendan or boards may fear people mentioning a topic here for fear of libel, but we can just have the same discussion on reddit...

Or perhaps a contract/receipt with the receiving address on it. The contract proves the address is the merchant, the blockchain proves you made the payment.

Which is why the regulations are likely going to require exchanges to do KYC and only allow people to withdraw to bank accounts in their own names. In anticipation of such regulations the exchange I use already made me verify my ID and only allows me to withdraw cash to my own bank account.

Because it's highly specialised and very risky. It's not just the risk of Bitcoin succeeding or not. Bitcoin could continue to increase in value and you could still make a loss by mining. You don't know what the future mining difficulty will be among other unknowns, so you can't make any kind of...

I understand your question. regarding tulips there were perhaps some more concrete reasons why it would end, not least of all that tulips can be grown in basically endless supply to meet demand and flood the market over a long enough time frame. Funny you mentioned Apple, as I also considered...

It's a good point that in hindsight some of the parameters may have been different, it's certainly interesting to consider, but observations of how bitcoin has worked in practice and experiments with alt-coins using different mining specifications showed that bitcoin's algorithm is actually...

I'm patient because I understand the other side of it. I can speak factually about how bitcoin works, it's easy because it's open and therefore there is proof for that, but I can't prove that people will continue to find bitcoin valuable, I can't convince other people to find the value in...

The bull case: January often has a dip, people sell after holding off until a new tax year, people sell for Chinese new year. If 10k can hold this could be one of the usual 50% retraces bitcoin has from local tops and the bull market resumes in Feb or March. The bear case: we've had a series of...

Actually, there's some detailed info here: https://en.wikipedia.org/wiki/History_of_bitcoin#Prices_and_value_history "In March 2010, user "SmokeTooMuch" auctioned 10,000 BTC for $50 (cumulatively), but no buyer was found." :p

It's usually said to be the 10,000 btc for 2 pizzas transaction. It looks like exchanges appeared in mid 2010 and earliest price I find is 5 cents per BTC

There's a direct Satoshi quote related to it here http://satoshi.nakamotoinstitute.org/posts/bitcointalk/46/ : Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge. But don't worry, there are another 6 decimal places that aren't shown, for a total...

Just like with company shares the amount of bitcoin you have relative to the total supply remains constant and identifiable regardless of the unit chosen to measure. Gold units are arbitrary too, you can use tons, ounces, kilograms, grams etc, different ones are used depending on the context...

I haven't watched the link as I've watched enough of Schiff over the years and I know he's still hung up on the fact that you can make a spoon out of gold and you can't with bitcoin, but if I was going to watch someone debate him I'd watch Chris DeRose here...

You say that as if it hasn't already happened at the end of 2013.... or any of the other times.

Just to be clear though, if you're using a multi-sig wallet (as opposed to splitting a single key among different people) you CAN afford to lose some of the keys, the exact number depending on how you've set up the wallet.