Sinbe
Joined 9 years ago
Joined 9 years ago
Regarding this point, Bitcoin solves the freedom to move capital. People in the U.S. under-appreciate this freedom. I'm from a country with strict capital control, very very difficult to move money outside the country, it's hard even to convert local currency to USD.
Bitcoin won't be a unifying currency. It behaves like a commodity, and commodities prices can swing wildly - remember negative crude oil prices last year?
I find this very silly, since if we ditch the arbitrary 0.95 and go with 0.999.. confidence interval of [-998, 1040] for example. How can one say that one cannot tell if which value is more likely, 21 or 1040?
If this is an actual limitation of the frequentist model like you said, everybody should be a bayesian thinker then. And the "confidence interval" is just a quick way to communicate how wide and where the posterior bell curve is.
Let's say your public address is public, all your net worth is there. A tainted account can send a small amount to you, nothing you can do about it. Is your account now tainted as well? If yes then bad actors now have a powerful tool of wealth destruction.