andreaorru
Joined 10 years ago
Karma
643
Submissions
89
Member since
Nov 24
Recent submissions
Comment · 5 years ago
Comment · 5 years ago
Have you played Aavegotchi? [0]
Comment · 5 years ago
Just want to point out that Ethereum 2.0 will be Proof of Stake, so moving forward the ecological argument is moot.
Comment · 5 years ago
I'm not aware of any alternative. Hopefully the global launch is not too far away.
Comment · 5 years ago
I'm not sure I understand your criticism. The USD is used to buy BTC. The BTC is then sold for EUR. There's no Forex trade, not directly at least.
Comment · 5 years ago
ASICs.
Comment · 5 years ago
From the article:
> Strike maintains a live Forex rate and compares that to its own rate before every transaction. However, in our testing, a Strike international transfer has never been done at an unfavorable exchange rate when compared to Forex rates. Shockingly (or maybe not) it was even cheaper sometimes, exposing the flaws and lag in Forex rates and how they are used. Bitcoin, as the most liquid, globally transferable asset is already acting as the new world reserve currency with Strike.
Comment · 5 years ago
I thought this was Hacker News? What does the personal style of the founder have to do with the technology?
The app has already launched in the US and you can use it if you live there. Global launch is coming soon - they're running a trial in El Salvador.
Why is a community of makers hating on a fellow maker? Beats me.
Comment · 5 years ago
No doubt. But that also applies to the legacy financial system. It's just much more difficult to calculate.
Comment · 5 years ago
For those numbers you would be going through OTC, not buying on the open market, so the fees would likely be much lower.
Comment · 5 years ago
Again, and I hate to keep repeating myself, but this is not true and just shows that people are not doing their research and/or they're stuck in 2016.
Strike (https://global.strike.me) has built a product in which they use Bitcoin and the Lightning Network to send money (fiat currency like USD, EUR, etc.) around the world instantaneously and at virtually no cost. In some cases, they are able to offer exchange rates that are better than the inter-bank FX rate.
Explanation of how it works: https://jimmymow.medium.com/announcing-strike-global-2392b90...
Comment · 5 years ago
This is not true. I'm sorry to post this twice but it's relevant to the discussion and also an answer to the OP.
Strike (https://global.strike.me) has built a product in which they use Bitcoin and the Lightning Network to send money (fiat currency like USD, EUR, etc.) around the world instantaneously and at virtually no cost. In some cases, they are able to offer exchange rates that are better than the inter-bank FX rate.
Explanation of how it works: https://jimmymow.medium.com/announcing-strike-global-2392b90...
Comment · 5 years ago
It is relevant because I don't think the rest of the projects will end up absorbing all of Ethereum's hashrate. First of all, some of the current miners will sell their hardware and stake ETH instead, becoming validators.
Secondly, I tend to think there'll be a mass extinction event, where most useless projects will eventually die off. You can mine all you want, but if there's no real utility in yet another PoW project (and there isn't), you won't be able to sell the coins at a price that justifies running the operation.
Comment · 5 years ago
The hash rate for all the other projects beside Ethereum is minuscule.
Sure, some of it will move to other currencies, but my guess would be it won't be anywhere near 100% as you're suggesting.
- The Beacon Chain is already live (since December last year). It's going to act as the coordinating entity in the PoS system. Future validators are already staking Ether on it.
- Shard chains support is expected to be launched later this year. The plan is to have 64 shards to improve scalability. Together with Layer 2 solutions (which are on the verge of becoming mainstream, e.g. Jack Dorsey's tweet was minted using a L2) that will bring the throughput to ~100-200k transactions per second.
- The last step is "docking" the old Ethereum Mainnet to the Beacon Chain as one of the shards of the new PoS system.
[0] https://ethereum.org/en/eth2/