Crypto currency (IF banned from CA)

[SerenityNigh]

Not everyone will be for it like. Obviously myself and others don’t know too much about it. Nice to see the average man make a little dough off it though. Could be achieved without turning into The Mongrel Of Wall Street but then this is GOT. Edgy boys react, that’s how it rolls.

 

[Moomin]

ill tell you what i find bemusing on this thread,
you have some posters who hate on anyone who makes a few quid with the tory shouts,
then with the next breath defend bankers who absolutely despise working class people in a rigged financial system,
crazy!

All very well, but you post stuff like this.

View attachment 133369

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The more worrying thing is you name yourself after a nonce hotel in Thailand.

When you frequent Thailand, do you pay by American Express or Bitcoin?

 

[DuuuncanHadaPigeon]

Upon reflection there is a minimum divisible unit but I don’t think it would be based on any logical or digital limit. Shares trade in fractions all the time and size is limited by voting rights or transaction costs.

Voting rights have been solved in traditional securities—funds don’t transfer voting rights in the underlying assets. Berkshire has done very well selling a Class B stock with no voting rights at all. Brokers are now selling $5 “slices” of shares. Of course none of this is relevant to crypto which holds no voting rights.

But transaction costs are relevant—probably a huge constraint on the utility of crypto, specifically BTC which apparently already has a cumbersome ledger. You can definitely split shares of crypto but I can only see this increasing the ledger, which ends up becoming an increase in transaction cost. Maybe in the future there will be ledger archives and truncated ledgers and this can be solved.

And if you can solve the ledger/transaction costs then I don’t see why you can’t own 1/2 a satoshi or whatever size unit you desire.

Interesting points, maybe in the future we will see this. Currently 1 satoshi is about $0.0003 so I can't see much demand for half a sat.

You are right on transaction costs, BTC is slow and expensive, not what you want for p2p digital cash.

 

[DuuuncanHadaPigeon]

its already solved with the lightening network,
this is what is being introduced in el Salvador and satoshis will be legal tender.
i use the blue wallet and i can send as much or as little as i want for next to nothing.
western union will be dead within a couple of years!

Sadly the lightning network is a joke with little to no adoption.

 

[JimmyJeffers]

All very well, but you post stuff like this.




The more worrying thing is you name yourself after a nonce hotel in Thailand.

When you frequent Thailand, do you pay by American Express or Bitcoin?

Interesting shorts and shirt combo @nikom court

 

[nikom court]

Sadly the lightning network is a joke with little to no adoption.

sadly you are misinformed!

Strike Launches Bitcoin Lightning Payment App in El Salvador; Full EU Support Is Next

Bitcoin’s Lightning Network-powered Venmo, Strike, is now available in El Salvador, and its team is planning on a full rollout in Europe soon along with a feature which allows users to convert their paychecks into bitcoin. The payment app, also described as a “neo bank” by founder Jack Mallers...

www.nasdaq.com

 

[DuuuncanHadaPigeon]

sadly you are misinformed!

https://1ml.com/statistics - capacity is 60mil mate

Promises of future partnerships are great on paper, but it is not actual adoption, its just more promises. We will see how el salvador plays out

 

[nikom court]

sadly you are misinformed!

https://1ml.com/statistics - capacity is 60mil mate

Promises of future partnerships are great on paper, but it is not actual adoption, its just more promises. We will see how el salvador plays out

cool,come back to me when a nation state makes hex legal tender!

Bitcoin: El Salvador makes cryptocurrency legal tender

It is the first country in the world to make the move, following a proposal by its president.

www.bbc.co.uk

 

[DuuuncanHadaPigeon]

cool,come back to me when a nation state makes hex legal tender!

Bitcoin: El Salvador makes cryptocurrency legal tender

It is the first country in the world to make the move, following a proposal by its president.

www.bbc.co.uk

cool, come back to me when lightning network has any adoption

 

[JimmyJeffers]

 

[nikom court]

cool, come back to me when lightning network has any adoption

Bitcoin Lightning Network Reaches Record Capacity

Bitcoin’s second layer payment protocol Lightning Network has been expanding unnoticed by most users. First proposed in 2015 and launched in 2018 as a

www.newsbtc.com

nobodys using it tho!

 

[DuuuncanHadaPigeon]

Bitcoin Lightning Network Reaches Record Capacity

Bitcoin’s second layer payment protocol Lightning Network has been expanding unnoticed by most users. First proposed in 2015 and launched in 2018 as a

www.newsbtc.com

nobodys using it tho!

You are confusing amount of nodes for people using it.

The capacity is 60mil mate and the network isn't even full, meaning the volume on lightning is less than 60 mil

Do you that is enough for the sort of adoption you are talking about? Seriously?

You can have all the nodes you want but no one is using it apart from desperate maxis

 

[nikom court]

You are confusing amount of nodes for people using it.

The capacity is 60mil mate and the network isn't even full, meaning the volume on lightning is less than 60 mil

Do you that is enough for the sort of adoption you are talking about? Seriously?

You can have all the nodes you want but no one is using it apart from desperate maxis

glad you have admitted some people are using it,
this is just the start,very very early days,
there will be many layers doing many different things built on the bitcoin core,
the best devs in the business are working on this!

 

[DuuuncanHadaPigeon]

glad you have admitted some people are using it,
this is just the start,very very early days,
there will be many layers doing many different things built on the bitcoin core,
the best devs in the business are working on this!

Some people are using it. The adoption is lightning network is pathetic. These two statements are not mutually exclusive.

Best Devs in the business? Bitcoin has been around for 11 years and all it has to show for it is lightning and segwit. In that time it has also had two inflation bugs that allowed anyone to mint as many bitcoin as they wanted, they even had to roll back the chain once!!

Have you ever looked at the electroneum wallet, it's awful.

Look I know you are a bitcoin maxi and it's hard to take any criticism of bitcoin, but everything I am saying is true, I have proved to you that the adoption of lightning is awful.

For the record, I want bitcoin to do well I really hope it hits new all time highs again, because a rising tide lifts all ships. But to ignore the fact it is slow and expensive and there has been next to no development on it in 11 years is just naive.

 

[nikom court]

Some people are using it. The adoption is lightning network is pathetic. These two statements are not mutually exclusive.

Best Devs in the business? Bitcoin has been around for 11 years and all it has to show for it is lightning and segwit. In that time it has also had two inflation bugs that allowed anyone to mint as many bitcoin as they wanted, they even had to roll back the chain once!!

Have you ever looked at the electroneum wallet, it's awful.

Look I know you are a bitcoin maxi and it's hard to take any criticism of bitcoin, but everything I am saying is true, I have proved to you that the adoption of lightning is awful.

For the record, I want bitcoin to do well I really hope it hits new all time highs again, because a rising tide lifts all ships. But to ignore the fact it is slow and expensive and there has been next to no development on it in 11 years is just naive.

big update coming in november called taproot,
concensus with the miners recently agreed,
take your blinkers off!