Readit News logoReadit News
jerrymiller commented on A Beginner’s Guide to Getting Started with Bitcoin   serhack.me/articles/getti... · Posted by u/onerom
SideburnsOfDoom · 5 years ago
> privilege as you've never experience this kind of oppression.

it is weird to see how the cryptocurrency nerds, with their massively polluting, "I got mine" high-tech get rich quick schemes, grab ahold of the mantle of champion of the oppressed and poverty-stricken.

It's disgusting, phony and hypocritical. It's either acting in bad faith or delusion - I can't tell which, perhaps they blend into each other.

jerrymiller · 5 years ago
So much projection. Astonishing.

What's discussing is handwaving real-world problems because they don't fit your agenda.

jerrymiller commented on A Beginner’s Guide to Getting Started with Bitcoin   serhack.me/articles/getti... · Posted by u/onerom
crtasm · 5 years ago
The way that's worded sounds like Bitcoin was designed with ASICs in mind - that isn't the case, is it?
jerrymiller · 5 years ago
Satoshi has not envisioned ASICs, no. But it doesn't matter what Satoshi thinks/thought of. Bitcoin is not controlled by anyone; anyone can introduce a better way to mine/use it.
jerrymiller commented on A Beginner’s Guide to Getting Started with Bitcoin   serhack.me/articles/getti... · Posted by u/onerom
notahacker · 5 years ago
The Bolivars being introduced into circulation over a period exceed the number of Bolivars needed to settle debts and taxes over a period, and the excess of Bolivars in the system resulted in people being able to obtain Bolivars they needed to settle these obligations by doing less work or supplying fewer goods.

Competently run central banks, unlike incompetently run central banks or crypto mining algorithms, intervene to reduce the money in circulation when its purchasing power falls faster than they're comfortable with.

jerrymiller · 5 years ago
Are you saying this has helped people in Venezuela?
jerrymiller commented on A Beginner’s Guide to Getting Started with Bitcoin   serhack.me/articles/getti... · Posted by u/onerom
africanboy · 5 years ago
how did bitcoin help Venezuela?
jerrymiller · 5 years ago
It helped and is helping people escape oppressive regime in Venezuela. Your snarky question comes from the place privilege as you've never experience this kind of oppression.

More info: https://www.coindesk.com/bitcoin-adoption-venezuela-research

jerrymiller commented on A Beginner’s Guide to Getting Started with Bitcoin   serhack.me/articles/getti... · Posted by u/onerom
SideburnsOfDoom · 5 years ago
Gold exists regardless of if you mine it or not.
jerrymiller · 5 years ago
And yet people mine it. And it follows the "I can get out before you" game the OP describes.
jerrymiller commented on A Beginner’s Guide to Getting Started with Bitcoin   serhack.me/articles/getti... · Posted by u/onerom
mckirk · 5 years ago
That would indeed be an interesting comparison. It's worth noting though that cryptocurrencies aren't automatically energy-hungry on the scale of Bitcoin. There are alternatives, such as the upcoming Ethereum 2.0 chain, that try to be more mindful of energy consumption through Proof of Stake instead of Proof of Work.

u/jerrymiller

KarmaCake day149July 28, 2017View Original