If it worked, wouldn't everyone do it?
It's the same logic that causes people to buy lottery tickets. Winning big in the lottery is unlikely, but getting rich by saving two lottery tickets worth of money each month is impossible. The risky strategy with the worse expected outcome is the only one that leads to your goal.
I think I'm the opposite. My feeling is that anything I type into ChatGPT gets stored in a database, ready to be leaked at some future date, or read by prying eyes without my knowledge. I'm more careful about what I type into it than what I say out loud in front of my friends.
Or maybe I'm just paranoid?
Doesn't it count as paranoia if it already happened?
Sorta like not wearing a helmet on a motorcycle. Or not using condoms. Or not getting vaccinated.
As a decades-long seatbelt-FORGETTER (I'm not anti-seatbelt, literally forgot!), not being able to change the vehicle's behavior actually led to a change in mine [I always "buckle up" before even unparking]..!
So your investments could be used to screw other people out of their money who are similarly financially illiterate/insecure?
It’s kind of crazy to me that there are somehow still staunch cryptocurrency proponents out there who have somehow ignored all the negative press it has received.
Because a bunch of bad people jumped on the bandwagon to exploit others.
Bitcoin != “crypto”
Bitcoin was the original and it’s still here. And it will continue to be here.
The goal of bitcoin is not to “make money”. Bitcoin is money. A new kind of money. One that no central entity can control. One of which there will only ever be 21,000,000. No one can print more Bitcoin. Unlike fiat, which the government and the ruling class use to screw people over right in front of their faces all in broad daylight.
Bitcoin can not be diluted. Bitcoin can not be inflated. Bitcoin can not be controlled. Bitcoin can not be stopped.
Fiat is weak money. Fiat is bad money. Bitcoin is strong money. Bitcoin is good money.
Bitcoin is a force of nature.
> The world's top Bitcoin mining pools mainly come from China, with five pools being responsible for more than half of the cryptocurrency's total hash.
https://www.statista.com/statistics/731416/market-share-of-m...
Seriously educate yourself. You're being the guy in the op comment.
Guys cmon its really childish the boring same issues thrown around when theyve been answered and addressed a million times.
For a forum of "hackers" most are just hacks.
No single jurisdiction approaches anywhere close to majority, with #1)USA@21% †
The threshold isn't quite 50%+. If one of the 49% nodes mines a block with a would-be censored transaction, the censoring notes have to make an economic decision to try to mine a replacement block and then a second block on top of that to rewrite the chain. At 100% this is easy, but at just 51% it's a costly gamble that will frequently fail at a huge dollar cost.
A block costs $200k at current prices. At just over 50% of the network, you are gambling at least two blocks to force a rewrite.
Absolutely agreed; however, eventually some non-hostile miner will randomly generate an acceptable `nonce` [entire point of hashing/energy-usage] which DOES include the censored-by-some transaction.
An additional function of the node-verification network (which uses essentially no energy, relative to mining) it to maintain the entirety of `mempool`, which is where unaccepted transaction-attempts live until mined into a block [which is then "accepted/denied" by same node-pool].
tl;dr: as far a probabilities go, unless you own exactly 100% of mining pool, it is impossible to censor a tx from the node's mempool; all you can do with <100% is DELAY transactions.
You should probably better educate on bitcoin protocols/mining before you go spouting off unfamiliar stats.
†: #1)USA #2)Germany #4)France #5)Netherlands #21)China (via bitnodes.io)
For simplicity imagine that there are just a few institutions that hold the majority of Bitcoin. Now imagine all of them are incredibly over leveraged on risky financial assets that suddenly all go to zero. Each of these institutions needs to suddenly pay off massive debts that they can't afford, and they start to spend their full Bitcoin reserves to pay. Investors notice the institutions are going belly up and simultaneously try and withdraw all their bitcoin deposits. There simply aren't enough Bitcoins to go around and the financial institutions holding bitcoin collapse.
When this happens in normal currency markets, the Federal Reserve steps in and provides a bail out of temporary liquidity to cover some of the debts involved for long enough to calm down investors so that everyone isn't simultaneously trying to cover massive debts with the same insufficient supply of currency. This is an absolutely critical part of modern macroeconomic stability. Every liquidity crisis that has happened would have been massively worse if not for this "monetary stimulus."
This is a good property of something you want to be scarce, but it's a terrible property for money, whose purpose is to exist in the correct amount to keep stable money velocity in a growing economy. (Or a shrinking one.)
Hell, with Entirety-Approval, we could also increase the 20.99999999 limit (it's just a concensus-node rule; all that's needed is agreement).
As the operator of a node for over a decade, now, I do foresee a day when 1 Satoshi [i.e. 0.00000001 BTC] is no longer the smallest divisible unit... one day, perhaps beyond my lifetime, there may be mille- and eventually even nano- Satoshis.
One can continue Dreaming™
The original people who were involved in Bitcoin had gold bug mentality and that directly created the early adopter advantage that makes Bitcoin so unfair.
Fiat has the force of the state behind it. This has pros and cons, depending on perspective and use. As a currency, it's superior in many ways. As a store of value, it's in many ways inferior to BitCoin... Until it's not.
> Fiat is weak money
Try explaining that to the IRS when they ask for taxes in dollars.
> Bitcoin is a force of nature
Asteroids are also a force of nature. That doesn’t make them good.
If Bitcoin became the most recognized and popular currency, it is conceivable that tax authorities like the IRS might start accepting taxes in BTC. Of course it would require legislative changes, and lots of effort and work put into valuation and conversion, collection and storage, auditing and compliance, and public education.
I would have participated more in the discussion but HN is telling me I’m posting too fast so I’m guessing a moderator didn’t like some of my harsh tone.
"Put it all on black [bitcoin]..." dumbest shit I ever did.
The pattern has applied to Tesla/Musk, cryptocurrency, language models and probably much more I'm not aware of.
It's more that crypto initially had potential, at this point it's been tried and failed to deliver - at least from the value perspective of people here.
at this point it's been tried and failed to deliver
Boring and trite comparison. I'm assuming you've never taken ibuprofen?
I turn 40 this year, and somehow have managed to entirely not touch my meager HODLings since 2018... it's the only reason I still earn USD (i.e. to not cash out any bitcoin).
I'm not rich, yet... but it's been a WILD. fucking. ride. (even just so far). Personally, I cashed out my entire 401(k) in 2016 and invested half of it into Bitcoin... which helps to not spend anything, viewing it as "my retirement, hit-or-miss..!"
Since 2016, our mutual friend and I have been adamently suggesting he look into "this bitcoin thing" — his response was typically [disinterested].
At a recent breakfast, it was explained how "talking with ChatGPT finally convinced [him] that you guys have been correct about Bitcoin all along."
When asked "what did ChatGPT explain to you that we two humans could not?!"
His response was simply "I never got embarrassed asking the computer any finance questions, even stupid/simple ones; I've always been the finance guy with answers so I forgot how to be humble in unexplored topics."
Pretty damn humbling, indeed; now if only he had listened back in 2016 =D
†: "Time in the market beats timING the market."