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Message
re: Official CryptoTalk Thread
Posted on 3/30/21 at 10:33 am to Douglas Quaid
Posted on 3/30/21 at 10:33 am to Douglas Quaid
quote:
I think that is why the projects working on hybrid systems that include the best properties of each system and exclude the worst through clever engineering of protocol incentives will win....eventually.
Eventually could take a long time. Or it could happen much faster than we think.
is iota one of those projects? and yeah, i think youre right, i feel like technology is being adopted rapidly, even faster than most everyone in this thread anticipated. keeping up with the changes in this space literally takes over an hour PER DAY
This post was edited on 3/30/21 at 10:34 am
1
Posted on 3/30/21 at 10:41 am to finchmeister08
Unfortunately, in the US it is an asset transaction.
Questions like that are among the roadblocks to mass adoption. The 'guvment doesn't have to ban crypto...they can make it such a pain in the arse to use that the masses simply won't bother.
I'd guess that you'd have KYC with Paypal and they issue you a tax record at the end of the year detailing your transactions along with reporting same to the IRS.
Questions like that are among the roadblocks to mass adoption. The 'guvment doesn't have to ban crypto...they can make it such a pain in the arse to use that the masses simply won't bother.
I'd guess that you'd have KYC with Paypal and they issue you a tax record at the end of the year detailing your transactions along with reporting same to the IRS.
Posted on 3/30/21 at 10:59 am to rocket31
Yes, IOTA is one of these projects but that is not what sets it apart from the crowd. Data transactions and no built in transaction fees are what set IOTA apart.
Other hybrid projects that I know of are Decred and Avalanche. I'm sure there are many more that I don't have time to look into.
Fully agree that there is not enough time in the day for due diligence on even 5% of the projects out there.
I find it fascinating that there are very smart people on both sides of the POW and POS debate that are completely convinced that they are right and the other side are morons.
And maybe both sides are right. Maybe BTC is the perfect most secure system that is best suited to be the layer 0 settlement network and everything else branches out from there trading security for scalability.
Other hybrid projects that I know of are Decred and Avalanche. I'm sure there are many more that I don't have time to look into.
Fully agree that there is not enough time in the day for due diligence on even 5% of the projects out there.
I find it fascinating that there are very smart people on both sides of the POW and POS debate that are completely convinced that they are right and the other side are morons.
And maybe both sides are right. Maybe BTC is the perfect most secure system that is best suited to be the layer 0 settlement network and everything else branches out from there trading security for scalability.
Posted on 3/30/21 at 11:11 am to rocket31
Probably an ignorant question,but since the founder is unknown who would make this decision? If its majority bitcoin holders, how does this work?
This post was edited on 3/30/21 at 11:12 am
Posted on 3/30/21 at 11:23 am to 21JumpStreet
As a Bitcoin bull and buyer I’ve always wondered how it could decouple from the dollar as far as payment. Let’s say you want to buy something that is the equivalent cost of $10. Will the cost be listed as .000175...? It wouldn’t be listed as $10 and paid as the Bitcoin equivalent (.000175...) if the dollar is useless. Not sure if this makes sense and it may already be happening as I honestly have never looked at doing a payment transaction with BTC.
Posted on 3/30/21 at 11:26 am to 21JumpStreet
the mining pools would have to adopt the new standard so any hard fork would be viewed as a completely different coin and there would always be people mining the original chain.
Posted on 3/30/21 at 11:40 am to rocket31
Oh ok, so it's the miners that make the decision? So the bitcoin cash guys were bitcoin miners and they hard forked it to bitcoin cash and the original miners stayed?
Posted on 3/30/21 at 11:46 am to rocket31
Can one of you experts help me understand this Uniswap article?
PundiX
I own quite a bit NPXS. I'm in Louisiana, so I cannot trade on Binance. I transferred my tokens to my Bittrex wallet (although it's not traded there either - I did not want them stuck on Binance). I don't want to get stuck holding an old ticker that I cannot trade in the future.
Is moving my coins to the FX wallet the best move? Or are there any other recommendations?
TIA.
PundiX
I own quite a bit NPXS. I'm in Louisiana, so I cannot trade on Binance. I transferred my tokens to my Bittrex wallet (although it's not traded there either - I did not want them stuck on Binance). I don't want to get stuck holding an old ticker that I cannot trade in the future.
Is moving my coins to the FX wallet the best move? Or are there any other recommendations?
TIA.
Posted on 3/30/21 at 11:48 am to 21JumpStreet
with PoW + full nodes, neither miners nor the biggest BTC hodlers can change the protocol.
thats why the original chain will always exist.
some miners or hodlers might adopt the hard fork PoS bitcoin but im assuming most will stick with the original PoW bitcoin
IF there was a complete global ban on PoW, it could get pretty interesting, and you might need to KYC into the new PoS fork (this part is all speculation)
thats why the original chain will always exist.
some miners or hodlers might adopt the hard fork PoS bitcoin but im assuming most will stick with the original PoW bitcoin
IF there was a complete global ban on PoW, it could get pretty interesting, and you might need to KYC into the new PoS fork (this part is all speculation)
This post was edited on 3/30/21 at 11:51 am
Posted on 3/30/21 at 11:58 am to rocket31
That is true for a PoW -> PoW fork. For a PoW -> PoS fork there is no need for the miners post fork so obviously the miners wouldn't agree to the change in the first place.
Look to Ethereum for the blue print, though to my knowledge they still haven't arrived at exactly how to transition the network so it must be pretty messy.
Look to Ethereum for the blue print, though to my knowledge they still haven't arrived at exactly how to transition the network so it must be pretty messy.
Posted on 3/30/21 at 12:00 pm to rocket31
Ok, starting to make a little more sense now
Posted on 3/30/21 at 12:02 pm to Douglas Quaid
quote:
For a PoW -> PoS fork there is no need for the miners post fork so obviously the miners wouldn't agree to the change in the first place.
thats what i said, but who knows, some miners might agree to it, thats the interesting part
at that point it will become quite political
This post was edited on 3/30/21 at 12:05 pm
Posted on 3/30/21 at 12:09 pm to rocket31
Yeah, I missed your second post clarifying. All good.
This topic brings up another fascinating aspect of picking long term crypto winners and losers.
Network transitions seem to be almost always a messy contentious affair. There always seems to be some rebels who stick with the old chain. Some move to other projects. Some move ahead with the new philosophy. This would seem to emphasize the importance of getting it right the first time. Yet, that is hard, probably impossible, to do in the lightning fast tech changing crypto world.
This topic brings up another fascinating aspect of picking long term crypto winners and losers.
Network transitions seem to be almost always a messy contentious affair. There always seems to be some rebels who stick with the old chain. Some move to other projects. Some move ahead with the new philosophy. This would seem to emphasize the importance of getting it right the first time. Yet, that is hard, probably impossible, to do in the lightning fast tech changing crypto world.
Posted on 3/30/21 at 12:15 pm to Douglas Quaid
Anyone in HOT?
Im up like 600% and I dont know what to do
Im up like 600% and I dont know what to do
Posted on 3/30/21 at 12:23 pm to Douglas Quaid
good point. on the other hand, it's also hard to trust chains which are continually changing monetary policy.
Posted on 3/30/21 at 12:50 pm to RATeamWannabe
quote:
Anyone in HOT?
Yup! And NPXS. Both have been killing it.
Posted on 3/30/21 at 1:28 pm to rocket31
quote:
burritos for bitcoin at chipotle this week
its happening isnt it
Just noticed it's on 4/1. April fools?
Posted on 3/30/21 at 1:35 pm to 21JumpStreet
it involves picking 6 digit strings like your mining and they even have a hard fork policy in the rules
so it's either an elaborate troll or a dope promo
so it's either an elaborate troll or a dope promo
Posted on 3/30/21 at 2:13 pm to rocket31
this is the kind of information that keeps me coming back to tigerdroppings
Posted on 3/30/21 at 2:35 pm to dagrippa
I stg trying to catch up in this thread its like getting roundhoused in the face by nerds
I mean that as complimentary as possible
I mean that as complimentary as possible
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