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r32a_

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Cryptocurrency consultant and software developer.

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Many people on HN who talk down against Bitcoin are indoctrinated into the current ideology. Anything that goes against the current ideology is refuted, ignored, dismissed as fads, bubbles, scams..etc Ideology is a powerful thing and it's hard to break out of it.

If you want to learn more about this concept, you should research about Slavoj Zizek's work on ideology. Bitcoin is not just technology, but a multi-faceted ideology founded around cypherpunks ideas, liberty, sovereignty, austrian economic system, free markets.

Even the way Bitcoin is developed (slow, methodical) and Bitcoin apps are built is different to SV way which is move fast, break things, iterate.

Leonardo did "ship" some of the greatest works of art. Some of those paintings took decades to complete. Which you happily glanced over.

Comparing steve jobs to Leonardo is a discredit to both steve jobs and leonardo.

This is why a fixed currency makes sense.

You work and convert your time into currency which can be traded for other goods or services.

When currency is manipulated, it allows the manipulator to make your currency worth more or less. effectively theft.

Business Models 7 years ago

Bitcoin is not a company and has no business model. Another day and another bad take about Bitcoin on HN.

Bitcoin is a multi faceted beast like nothing else. It is a cross between computer science/cryptography, governance/game theory and economics.

In my opinion the economics of bitcoin is the core, which is kept in balance and managed with game theory and decentralised governance and it is created with computer science and cryptography.

In order to truly understand what Bitcoin is then you need to fully grasp all these 3 facets. Most people don't, they read the headlines or look at bitcoin from one of the facets and write it off.

Bitcoin as a Game 7 years ago

Lightning network payments are denominated in sats. So you can buy 1 Sat for $0.0000945 USD

Libra, 2 Weeks In 7 years ago

Wrong. Bitcoin will use Lightning Network for most everyday transactions and it's speed is only limited by network liquidity and bandwidth

Libra, 2 Weeks In 7 years ago

Let's call this for what it really is, they want to replace democracy with Corporatism.

At least with a government backed currency we get a choice on who runs the government. Even though that power is constantly being eroded.

The companies that run Libra however have 0 obligation to users of Libra but only to maximise profits for their shareholders. This is their plan:

* Dedicate a lot of resources to spread the adoption of Libra

* Change the language of what Libra is.

* Extract as much value as they possibly can from Libra users.

The proof is simple, If FB and all of those companies dedicated resources to development and adoption of Bitcoin itself then it would be able to reach the goals of Libra and be more decentralised than Libra.

David Marcus and the entire Facebook Libra team make me sick to my stomach.