furbyhat's comments

furbyhat | 7 years ago | on: People living in storage units in order to avoid paying Boston rents

I did this myself for 3 months.

Saved about $4k doing so.

You start to appreciate simpler things and realize how cluttered your life was before

furbyhat | 7 years ago | on: Ask HN: If Bitcoin is so great, why doesn’t it help the people in Turkey?

>Bitcoin charges something like $4 per transaction lately, and they take on the order of a day to process. It's unstable, and it's confusing to most people.

"Bitcoin" is a protocol, like TCP or HTTP. It does not charge anything.

You may as well have said "SMTP charges monthly access fees".

The miner's accept transactions and prefer ones with the higher fee. User chooses their fee in accordance with how fast they want some miner to pick it up.

Note that this clogged, congested network is due to Bitcoin Core (BTC) being crippled at 1MB block size ... this is not inherent to the _bitcoin protocol_ itself.

This can be seen with Bitcoin Cash (BCH) where the block size is 32MB (and will be soon 128MB) where the median fee is less than 0.005 USD (half a cent) for pretty much guaranteed confirmation within the next block (10 minutes or so).

Bitcoin Cash (BCH) is the only "crypto" that now actually implements p2p electronic cash system ... as a chain of digital signatures as described in Nakamoto's original paper and original implementation.

Bitcoin Cash is Bitcoin.