agorabinary's comments

agorabinary | 7 years ago | on: Bitcoin: The Swindle of the Century

Proof of stake has never been shown to work and the largest projects attempting to move towards it, ie. Ethereum, are finding PoS's issues insurmountable. There is still no proof of concept for PoS (Casper), something that is becoming increasingly apparent to the ETH/BTC market these days...

agorabinary | 7 years ago | on: Bitcoin: The Swindle of the Century

tl;dr "You don't have to take my word for it: No less an authority than JP Morgan CEO Jamie Dimon has identified crypto as a bubble just waiting to bust."

Is this satire?

agorabinary | 7 years ago | on: Bitcoin's Use in Commerce Keeps Falling

Ever since LN was first proposed, skeptics have asserted problem after problem as an insurmountable obstacle. And time after time they have been proven wrong.

If you really think that big blocks solve anything, then by all means just use Bcash - though of course Bcash itself is melting down into separate forks as we speak..

agorabinary | 7 years ago | on: Bitcoin's Use in Commerce Keeps Falling

I can send less than a satoshi to someone across the globe for virtually zero fees, anonymously and without any need to wait for block confirmations? And all of this works right now on mainnet?

Bitcoin progress has always consisted of overcoming allegedly insurmountable problems, Lightning dev is no different. Next up is solving efficient routing and intermittent nodes.

agorabinary | 7 years ago | on: Bitcoin's Use in Commerce Keeps Falling

It's pretty remarkable that the transaction layer (Lightning network) on top of Bitcoin hasn't garnered any discussion in this comment section - I would expect this to be the primary topic when talking Bitcoin commerce! It's not possible to have an intelligent discussion on Bitcoin commerce without discussing its most relevant tech.

From my experience, I see that most apolitical or politically averse techies (a lot of HN) are drawn heavily to Ethereum, which has been falling relative to Bitcoin ever since the January highs. Pretty sure there is a strong correlation between this and HN crypto frustration in general.

agorabinary | 7 years ago | on: Former Tesla Firmware Engineer Discusses the System

Elon nearly brought the newly merged X and Confinity to its knees during a critical period in its development by 1) insisting on the "X" brand when Paypal was more popular with users, and 2) insisting on Windows over Linux despite the protests of his tech team.

Soon after he was ousted and Thiel was made CEO. Interesting to see he's still pushing Windows.

Source: Paypal Wars by Eric Jackson

agorabinary | 7 years ago | on: How to Lose $3B of Bitcoin in India

Yes, as a Westerner I hadn't even heard of this massive invalidation of 86% of India's cash currency.

Pretty dramatic, certainly could have helped the massive crypto price run-up in late 2017. Also helps to demonstrate the value of a currency that can't be manipulated by state actors.

agorabinary | 7 years ago | on: Macron Wants to Rein in Silicon Valley, from Brussels

One of the major concerns of EU skeptics has always been the ability (and the gall) to push ambitious acts of centralized control by like-minded European leaders. And more likely that big players like Google/FB will just buy off protections from mega-regulators than actually be "reigned in" as it always happens

agorabinary | 7 years ago | on: Pop_OS 18.04: the state of the art in GNU/Linux on desktop

Some interesting points here regarding design improvements to bring us a more mainstream Linux desktop, but what about price point as well? I just configured a System76 Gazelle laptop with the same specs (albeit newer cpu, but moore's law) as my 2 year old ideapad and it's $400 more than what I paid back then.. AND no gpu either. :/

agorabinary | 7 years ago | on: First off-chain bi-directional Ethereum mainnet wallet

Just read whitepaper. I'll check in on this project once there they open source the code so I can run my own payment channel hub. Until then it's a centralized system (and even then.. maybe still).

"LiquidChain GmbH plans to operate several Liquidity.Network hubs on top of the Ethereum blockchain building the foundation for instant and cheap transmission of crypto. Anyone however will be able to operate a Liquidity.Network hub once the software is open sourced."

agorabinary | 7 years ago | on: Cryptocurrency is driving innovation in the financial sector

It peaked not from a lack of demand but from hitting an inevitable scaling roadblock. Now the community is busy deploying a layer 2 (Lightning) to the Bitcoin mainnet that can offer transactions per second that exceed any financial system today, not to mention a whole host of breathtakingly innovative developments powered by this new layer.

I understand the justifiable HN frustration at the prevalence of scams and overpromises that have plagued the blockchain (mainly ICO) world as of late. But the blockchain is getting better, and with developments that make SWIFT innovations seem trivial by comparison.

agorabinary | 7 years ago | on: B.lock: a blockchain-powered password manager

> Private storage

Easier to store a private key that gives access to a blockchain datastore than to store a decryption key + private storage file that would need to be replicated across all systems you want password access.

> HA system

That's a hosted solution, so it isn't completely trustless.

> closed-source softwares will not just read your passwords

I agree that this has nothing to do with a blockchain.

agorabinary | 7 years ago | on: MtGox: Announcement of Commencement of Civil Rehabilitation Proceedings [pdf]

Just read it through and it seems that:

a) any owed assets will be paid in Bitcoin, unlike the bankruptcy proceedings which gave you fiat at (I believe) the rate when mtgox went under

b) a form will be posted to mtgox.com to fill out and send to them before October 22, 2018

Has anyone who filed in the bankruptcy proceedings got any money back? If so did you get it all back?

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