Recent submissions

Comment · 9 years ago
For the same reason we do not make bigger cars when we want to go to space.
Comment · 9 years ago
You managed to cram so much wrong into a post it's unbelievable. Let's start with your 'off by one' address scare tactic. Bitcoin addresses contain a built-in check code, so it's generally not possible to send Bitcoins to a mistyped address.

https://en.bitcoin.it/wiki/Address

Ecological concerns? A global, nacent value exchange system uses a little more than the total electricity of holiday lights. In fact many miners use cheap unused energy that would be otherwise costly to build infrastructure to sell normally.

https://icenter.co/chinese-hydroelectric-crackdown-herald-de...

Too confusing? Seems familiar. Here's a video from 1994 with some talk show hosts confused about 'internet'. Just watch this, please.

https://www.youtube.com/watch?v=UlJku_CSyNg

Comment · 9 years ago
What are your dollars but numbers being added and subtracted in a database? Things have value because people assign them value. There isn't some magical property that makes the trust in US government more legitimate than trust in math and cryptography. It would seem a lot of people would argue in favor of the latter as well.
Comment · 9 years ago
Guess what has to happen to maintain or increase value transfer when you have reached a limit on blocksize.

Ding ding ding! You guessed it!

The price must rise. The utility has not degraded and just looking at 'number of transactions' is not useful. Just because I can move some arbitrary number of units in a given timeframe does not mean my unit is more valuable. Banks can move way more than 600k USD transfers in a day.

Comment · 9 years ago
Nah, there are still just 21 million bitcoin. Nice try though.
Comment · 9 years ago
I'm so tired of this uninformed critique.

How do you propose we increase throughput on a competitive space without compromising the byzantine fault tolerance of the bitcoin network?

Go on, I'll wait.

It isn't just 'make the blocks bigger'. That's like telling a developer to just ship more code. We didn't scale the early internet by making packets bigger. Open your mind and stop repeating things you read just because you read it. Think for yourself and if you are uninformed about a technology then do not open your mouth to speak. You don't reach scale and adjust a hundred billion dollar network by hacking fixes, you do it by carefully making calculated changes with science and testing behind your decisions. The developers working on bitcoin today have done more to contribute to the growth of bitcoin than detract and the sheer volume and scale are unprecedented. Nobody is equipped to say one solution is obviously better.

Comment · 9 years ago
The amount of tether doesn't even come close to accounting for the upward price movement.
Comment · 9 years ago
If you believe USD will maintain its value (which historically it hasn't) and that banks will not steal your money (which historically they have), then why even use Bitcoin. You're arguing the wrong points, it's not about who can be faster than who, "I can change database values faster than anyone!" It's about guarantees on that action and no central entity (e.g. Bank) can match the guarantee provided by the decentralized, trustless nature of Bitcoin.
Comment · 9 years ago
You can easily be confirmed within approximately 10 minutes (the fastest possible time) for about $4 USD. The volume of Bitcoin (on chain) and competition to enter a block is healthy. It is nowhere near $100.
Comment · 9 years ago
What? It's a buyer seller market. By your terrible logic markets are pyramid schemes. This is upvoted?
Comment · 9 years ago
The utility has gone down? Bitcoin utility hasn't gone down it has had many additional features built into it but the utility has not changed.

The fact that this is upvoted so high really shows the number of people who truly lack an understanding of an asset but are vocal in spite of that fact.

Comment · 11 years ago
Your understanding is incorrect.
Comment · 11 years ago
Kind of sick of hearing government officials saying encryption is evil. This stance is disingenuous at best and dangerous at worst.
Comment · 11 years ago
You trust violence more than mathematical improbability? Okay.

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