21 sats \ 0 replies \ @lipinip235 OP 4 Oct 2022 \ parent \ on: BTC Tx fees: a deterrent for adoption? bitcoin
I believe everyone that answered to my post missed the point of it, but maybe I didn't explain it well. Anyway, yours is the only answer that actually contains useful info, thanks for that. You have some good guides there.
"Onchain isn't meant for 10k sat transactions." Interesting point, but regarding adoption, isn't it a contradiction saying BTC is the money of the future when you can't use it for everything and anything alike without having to pay extra? Let's up the amount a little, not 10K but 25K sats: would you feel comfortable paying a 20%+ of a coffee price just to use BTC?
You know which legacy institution lets me move such low values? The government, with fiat. Where's BTC real advantage over them in this matter? Paying 25% on fees is magic? I think we have different definitions of what magic is. Paying 20% of 10K sats on fiat amounts to about $0.40 over a $2 transaction, if it were "10 whole Bitcoin" one'd be paying $32,200 over a $196,000 amount. Also, stating that using percentages is lazy... Well, I won't put an adjective on that.
I don't mean to be rude but I hope someone else contributes to my post with some real, non-patronizing and non-maxi answers.
It was expected. I don't believe any non-third-world country goverment will accept, let alone drive, the broad usage of bitcoin on the forseeable future, and will effectively make use of any bureaucratic apparatus it has available.
News like this will start popping up all around. What I do wonder is if these attempts from goverments to impose will eventually drive the creation of a btc black market, as it has happened with other restrictions in the past.
Yeah, the privacy features went down the toilet with the removal of Privacy Guard. The stuff they replaced it with, Trust, doesn't seem to do anything... I just took a look at GrapheneOS, seemed cool, maybe I'll try it.
Interesting project, I've been wondering for years why there's just 2 OS choices for mobiles, how I miss Symbian. Either you're iOS or Android, and Google is the devil. I was only aware of LineageOS, have been using it for some time but I didn't like when they removed Privacy Guard from it. Do you know which advantages CalyxOS has over LOS?
Can't say I have recommendations, just stuff I've picked up reading online. I'll keep an eye out for more of your articles!
I liked it, upvoted. The economics point of view is refreshing, backing up BTC with hard data and background explanations.
I just keep wondering something about inflation, since its growth is primarily based on supply and demand, wouldn't its root cause be the ever-growing human population vs. the ever-shrinking planet resources, rather than the amount of bills printed? If it is, then the inflation concept could be transferred to BTC once basic goods start being priced in sats, no?
"...that the movement can become more positive and aspirational, less defined by what it is against, and more defined by what it is for.
At the end of the day, no amount of aggression on the part of Bitcoin Maximalists will make the wider crypto economy or the world of government monies disappear, nor will it fully advance the goals of the bitcoin movement as a whole."
You don't read that everyday. Many could take the above as good advice, it might seem fun or entertaining at the moment, but there are examples where those kind of aggressive and discriminating attitudes, radicalized, turn into serious matters.
I would payoff politicians to get them to make pro-BTC laws. Or, I could establish a small chain of convenience stores that accepts LN. In my case, BTC is not being adopted since you can't use it anywhere, giving the option to people to buy basic goods with it is a great start.
I really liked this remark "It doesn't need to replace any fiat. As long as it is an available option that works in addition to fiat". I think that bitcoin completely replacing fiat is wishful thinking, but being an option to fiat is a very real, down to earth approach.
But that would require the authenticating target to run their own LN node, right? Otherwise there'd be some serious security implications. One of the advantages of the current TOTP/HOTP model is that the second auth can be done with an offline device.
Thank you for your recommendations. Personally I like SOL for the projects they have on their hands, I believe that at some point their issues will stabilize as their ecosystem evolves (or maybe they won't, who knows). About staking, my approach to crypto is to have it until I can use it as is for something, without exchanging it for hard dollars, so holding time is not a constraint for me.
I just quickly read about it, but chainlink doesn't have a token or coin, right? So how would you take a stake in it?
I say keep altcoins. We should all be able to get whichever crypto we want. Every crypto earning platform I know has the option to get sats for every BTC fan out there, there's no harm in keeping other cryptos available for people that want them, even if they have to wait longer or get a lower amount due to any specific coin's requirements.
Thank you for the useful reply. I'm aware of monero but can't say I've heard of zcoin. I'll check it out. Have you heard about FLUX? The fact about running my own node for rewards seems appealing.
I guess it all comes down to either fulfill your sense of purpose through work or not. I've seen different degrees of employee engagement and I don't think either of them is wrong.
From people that pretty much live to work and 75% of their lives revolve around their job, people that does a little bit more of what they're paid for and the ones that do the job description checklist only according to the salary they were offered. I'm in the last group of these, not because I like being ordinary in the work environment, but because I've found and accepted that corporations do not practice meritocracy and everyone, from the CEO to the smallest paycheck share one common goal only: produce value for the shareholders, regardless of everything else.
So, a job for me is merely a way to produce income while my personal purpose lays everywhere else but there. I do what's necessary and no more.
I actually started stacking ADA a few months ago along with some other alts because of their staking feature. I don't like putting all eggs in one basket, but then again, I've never used real-life, everywhere-expendable money to purchase crypto so I guess I'm not that concerned if my strategy goes south. Of course, I also stack sats wherever and whenever I can.
Yup, same here. If it doesn't work for you from the start, it will never work. If it worked and suddenly stopped working, it will never work again. The support team stops answering you after 2 or 3 emails, also.