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jungans commented on Hal Finney’s proposal for optimizing Bitcoin to be enabled in Bitcoin Core   btctimes.com/news/hal-fin... · Posted by u/syck
akritrime · 5 years ago
A bit tangential but I have a question. This is one thing that I don't really understand about bitcoin, how open is it, to be declared free from government influence? The power of the core technology still resides with who ever has the key to push changes, and there lies a lot of vested interest. Like an external agent can still influence the devs who are making the changes and then majority of the nodes to accept that change. Its not really resilient to outside forces, right? Or am I missing something?
jungans · 5 years ago
You're not missing a thing. Bitcoin is sound in theory. In practice, though, humans are very flawed and they tend to submit to authority more than is healthy. In the case of Bitcoin in particular, the Core implementation has been declared the de facto reference client. Meaning, whatever they say goes. This has proven to be detrimental to Bitcoin as Blockstream, a private corporation is the employer of (or was cofounded by) the most influential Core contributors. Those who disagreed with the direction Blockstream wanted to steer the project to, were removed from their authority position. Now as a result, Bitcoin is unable to scale. Blockstream keeps delaying a simple upgrade that would do just that and at the same time, keeps pushing competing solutions like LN and Liquid. I think Bitcoin as an experiment in human behavior was very interesting. But as a revolutionary technology, not that successful...
jungans commented on Crows possess higher intelligence long thought a primarily human attribute   statnews.com/2020/09/24/c... · Posted by u/felixbraun
Damorian · 5 years ago
One particularly early, groggy morning I was walking into work and there were a few crows pecking around the grass by the sidewalk. Lost in my thoughts I hear a raspy old man say, "good morning". I look around and don't see anyone, then I look at one of the crows and it looks me right in the eye and repeats, "good morning". I doubted my sanity for a few days before confiding in my wife what happened and was surprised and very much relieved when I learned crows could talk. I didn't read the article or have anything to add, I just wanted to share this.
jungans · 5 years ago
jungans commented on Chainalysis in Action: Justice Dept Demands Forfeiture of 280 Crypto Addresses   blog.chainalysis.com/repo... · Posted by u/PatrolX
boring_twenties · 5 years ago
CoinJoin isn't a serious solution. If you want privacy, you need Monero.
jungans · 5 years ago
Privacy is a continuum. CoinJoin offers a trade-off between privacy and convenience. It is good enough for some cases.
jungans commented on Abolish Billionaires   nytimes.com/2019/02/06/op... · Posted by u/dkoch
cwperkins · 7 years ago
Real question: If I start a business and people love my product so much so that I become a billionaire. Am I a bad person?
jungans · 7 years ago
Of course not. Is the owner of a monopolistic company a bad person? No. Is it good for society to allow a company to become a monopoly? No.
jungans commented on Enter 'petro': Venezuela to launch oil-backed cryptocurrency   reuters.com/article/us-ve... · Posted by u/setra
whb07 · 8 years ago
How does one actually claim a portion of that oil though? Its the same thing as a bond, which its feared they will default on. At the end of the day if they don't want to pay, then they don't pay.
jungans · 8 years ago
Exactly. The minute a cryptocurrency is backed by something, trust in a third party is reintroduced which defeats the whole purpose.
jungans commented on Bitcoin Surges Past $7,000 to Extend Record Rally   bloomberg.com/news/articl... · Posted by u/rayuela
g09980 · 8 years ago
A post [1] shared a couple of days ago made a thesis that BTC price needs to grow for it to become a viable "store of value." Maybe this is what we are seeing.

"Market cap size is critical for adoption of a store of value. It needs to be large enough to “fit” even very large amounts of fiat, ideally without affecting the market. Gold market cap is estimated at 7 trillion USD, which means that even the richest people can move all their assets into gold and not move the market. (At least one at a time. All of them at once will move the market big time).

Bitcoin market cap of about 70B USD is not large enough for even one of the richest people on the planet. This implies that if the market cap does not grow, Bitcoin is likely to fail as store of value."

[1] https://grisha.org/blog/2017/09/25/bitcoin-value-2/

jungans · 8 years ago
FYI Bitcoin marketcap as of today is 120B USD but your point still holds.
jungans commented on A cave in Romania that was sealed for 5.5M years   bbc.com/earth/story/20150... · Posted by u/ForFreedom
pmalynin · 10 years ago
You can still compare them, e.g two numbers could or couldn't be equal. Equality is a form of comparison
jungans · 10 years ago
wouldn't this make all things comparable?
jungans commented on Google Docs adds Pivot Table support   googledocs.blogspot.com/2... · Posted by u/vmind
jungans · 15 years ago
Please please please add something like MS Project...
jungans commented on IPhone App Store Developers Aren't Getting Rich   newsweek.com/id/216788/pa... · Posted by u/gcheong
ajross · 16 years ago
It's a gold rush. The first prospectors do pretty well. The later ones starve. It's the people selling auxilliary stuff to the prospectors that make a killing.
jungans · 16 years ago
Except selling auxilliary stuff to the prospectors is also a gold rush...

u/jungans

KarmaCake day55October 7, 2009View Original