Catch up on stories from the past week (and beyond) at the Slashdot story archive

 



Forgot your password?
typodupeerror

Comment Re:investment vehicle, or currency? Which? (Score 1) 190

The source is merchant processors like Bitpay and coinbase. Additionally, if you are in the Bitcoin community it is very evident as to what is happening because charitable giving and tips skyrocket and people start buying "lambo's", homes, and vacations during bull markets. One example is Pine donated 86 million dollars to 60 charities during the last bull market - https://en.wikipedia.org/wiki/...

Comment Re:investment vehicle, or currency? Which? (Score 1) 190

Bitcoin transaction throughput tends to increase over time and merchant processors report higher spending on goods and services with bitcoin during periods of rapid deflation or "appreciation bubbles" thus bitcoin has proven the whole "deflationary death spiral" to be a myth. It turns out that peoples motivation to spend their bitcoin overrides their motivation to save when they feel wealthy, because they are wealthy.

Comment Re:investment vehicle, or currency? Which? (Score 1) 190

The trend is for less and less private keys to be lost over the years so i don't see this happening , and bitcoin is so divisible, down to 1/1000 of a satoshi, that even if 95% of UTXOs are lost this doesn't effect bitcoin's usability as a unit of account to buy a cup of coffee.

Comment Re: pyramid scheme ? (Score 1) 190

You know as well as I do that most stocks these days do not pay dividends and most of their value is speculative. With gold, most of its value is also speculative. Buying 1 bitcoin equals controlling 1/21 millionth of the network, a network run by people and a lot of physical infrastructure as well.

Comment Re:BTC - environmental catastrophe (Score 2) 68

This notion comes from a flawed understanding of economics. Fiat currency costs at least the same amount of resources to create , regulate and secure as Bitcoin. “Rent” always forces production costs (MC) to always equal sale prices (MR) MC=MR PoS currencies and fiat are simply more abstract and complex forms or Proof of Work that use more human involvement (which uses tremendous amounts of resources and has a tremendous environmental impact) as a PoW coin like Bitcoin. Humans instead of ASICs are shouldering more of the work to create, regulate , and secure each of those currencies; This is "work" whether it involves burning electricity directly or food and electricity that humans consume to perform their work. This is an inescapable economic reality. The more valuable something is the more it will cost to secure it because the more effort will be made to steal and or control it. This applies to any currency or asset.

Slashdot Top Deals

Serving coffee on aircraft causes turbulence.

Working...