I've tried to wrap my head around what's about to happen aug 1st and as far as I understand BCC will fork away and increase block size because not all people want SegWit; is there anything else to the fork other than increased blocksize? What's up with the the whole Bixin letter? "Mining difficulty will decrease dynamically with lower hashrate but will only increase statically every 14 days when hashrate goes up" I get why miners want it but why is it a good 'feature' for Bitcoin Cash? Thanks
I recently came across a link, which took me to a website who's homepage referenced bitcoins. The initial link had nothing to do with bitcoins, but I've heard the term a few times, so I googled it. In the past, I'd always assumed that bitcoins were currency specific to some online game that I don't play, but I've read some information on them and I've watched a video from their website and I've realized the basics of what they are. I know that it's an international, non-centralized, electrical currency, and I know that the supply is limited. What I can't seem to grasp is why the system was created and the specifics of how to use it. Perhaps I'm just a bit dense, but I'm not very tech savvy when it comes to new interfaces. I haven't even gotten a handle on torrents, mostly because I'm a bit terrified that, in my ignorance, I'm going to get something with a hidden virus, and I just don't want to risk it. If someone could explain the ins and outs of bitcoins I would appreciate it a lot. I have a very curious mind, so be prepared for a lot of clarifying questions that may or may not seem obvious to you. TL;DR What's up with this wacky new money called 'bitcoins'? It makes my head spin. Can you dumb it down for me?
Can someone please explain to Mark Cuban that nobody is using Bitcoin as a currency because of legal tender laws and because it is classified as property by the IRS?
The Bitcoin community consists of at least ten million members (probably more)... if overnight the IRS/government treated Bitcoin the same way they treat the US Dollar, then at least 5 million of us would convert some % of our paychecks to Bitcoin and use it for things like groceries, farmers markets, televisions, cars, monthly savings, rent, gym memberships, etc... Arguing that Bitcoin isn't a success because nobody uses it for payments is beyond absurd and is not a logical argument. It simply rests on an appeal to authority (i.e. nobody uses Bitcoin for payments because the powers that be are literally putting up barriers for it to be used that way). So, assuming we can change the laws then millions of people will start being more vocal about paying in Bitcoin, which will create another feedback loop, because it will create "Conspicuous Bitcoin Consumption", more people will see us do it, and will see that merchants like it.... and then it will spread like wildfire.
Can someone please explain why bitcoin isn't an environmental disaster?
I just came across this site and, putting aside how specifically accurate the stats are, am absolutely horrified at how much energy bitcoin mining consumes. https://digiconomist.net/bitcoin-energy-consumption Furthermore, it seems to be increasing exponentially. Yet bitcoin is still in relative obscurity. Imagine if the gajillions of transactions processed daily were via bitcoin... The world would be fried in a day. How is this even remotely sustainable, if not environmentally and morally then even just economically? Also, somewhat related question: what happens when all the coins are mined and there is no more reward for processing transactions? Or better yet, it seems like the energy required to complete a transaction will at some point far outweigh whatever mining compensation there is. I'm relatively new to all this so this is surely all missing something. So feel free to fill me in rather than shit on me. Edit: Thanks smeggletoot for the good information and resources, I look forward to reading through the rest. The majority of the rest of you scare the shit out of me. Im not going to respond to any more, because it's predominantly the same, inane, fanboy arguments over and over again that only consider the economic side of this and completely ignore the ecological reality that the earth can only handle a certain amount of heat. Even smeggletoot fully recognizes that the energy requirements are seriously concern. I don't yet share his optimism that we can engineer our way out of it though.
Can someone explain please when less people mine bitcoin this means difficulty decreases? Means coins can be mined much quicker means bitcoin price drops eventually? Sorry if it’s a silly easy question 🤦🏻♂️
Can someone please explain why does Bitcoin Satoshi Vision have value?
To me, it seems that this project is just a money laundering scam and is hurting crypto community. If cryptocurrencies want to be recognize as trustable we need to get rid of these unreliable projects.
Can someone please explain to me the grudge between r/btc and r/bitcoin?
I'm fairly new to crypto, wouldn't say totally new, but not a veteran either. Anyway I've been reading a bunch everyday, found bitcoin first and then btc. I really don't understand the hate between the two groups. Maybe it's because I'm a little late to the party, but can someone elaborate to me? I honestly haven't seen anything this bad since politics and the_donald. I feel like 50% of posts / comments on this sub are somehow related to ripping on bitcoin. Just trying to understand the perspective of each sub.
06-25 19:05 - 'Links / [link] / [link] / Btw. can someone please explain, why would anyone ever want to record weather data on (any) blockchain? And pay for it? / Over in their sub, they can’t come up with anything either... This is probabl...' by /u/tldr-hodl removed from /r/Bitcoin within 16-26min
''' Links [link]1 [link]2 Btw. can someone please explain, why would anyone ever want to record weather data on (any) blockchain? And pay for it? Over in their sub, they can’t come up with anything either... This is probably the best one: “I believe they have yet to figure out a business case. But data is important in whatever form, and weather data is important data about our planet. The blockchain in an immutable ledger ‘forever’, this data can be used today to know in trustless, permissionless way about the weather (ok not that this kind of data usually get censored or anything, but still), In ten years to train AI to be better a predicting future weather It can be used in a hundred years to tell the story of our time. The easiest business case being, selling that data to people that might need it later.” So... you pay now for recording data and hope somebody will perhaps buy it from you later. Old weather data. Already publicly available. Yup. Got it. Genius bussiness plan. ''' Context Link Go1dfish undelete link unreddit undelete link Author: tldr-hodl 1: **dium.c**/@**y***Browsealmos**all*of-bitcoin-sv-tr*nsacti**s-are*d*ne**ia*a-weath**-app-c*a71*75a**d 2: *henextw*b*c*m/har*f*rk/20*9/06/24/b*tcoi*-s*toshi-*ision**s*-ac*ivi*y-tr*ns*c*io*s**eath*r-cry***curr*ncy-bl**kchain* Unknown links are censored to prevent spreading illicit content.
Can someone please explain to me the underlying value of Bitcoin without some sensationalist bullshit?
I just want to know why it has value and what the source of that value is. I can't tie it to anything I understand, and I'm more than happy to understand, I just need it to make sense without someone Trumpslaining why my lack of understanding doesn't matter.
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