Posts

Bitching about Lightning Network won't help you stop it

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All of you who keep bitching about Lightning Network, you need to realize that Lightning Network is a layer 2 technology, which by definition layer 1 doesn't know about and isn't affected by. Just like TCP doesn't know about the contents of the encapsulated SSH and HTTPS that it's transporting. Furthermore, the development of Lightning Network is permissionless, and anything that's permissionless and useful will inevitably come into existence due to market forces. There is literally nothing at this point that can stop it. Moaning about it, spreading lies and fud etc won't stop it. You are wasting your energy. Give it a rest already. Go do something useful with your life.

Forking of Bitcoin is good

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Forking is good. Because THIS IS D-E-M-O-C-R-A-C-Y! You can vote with your wallet what to use as money. Also, there are hundreds of altcoins... This is good. Let's users decide which coin to use. Some cryptocurrencies have interesting features (not available by default on Bitcoin), like Monero (privacy). Some have very little transaction fees - they are good for permissionless micropayments (no need to rely on 2-nd layer like AdvCash, Payeer with free/cheap internal transactions).

It's happening! People are putting Bitcoins in ther IRA account!

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Dealing with the anxiety related to the volatility of your porfolio

Follow the Nassim Taleb's advice - don't listen to noise. (The price changes you see every day are just noise (just like the "news" on the TV). Don't look at prices every day. Or even every month. Look at them once per year. And your life will be better.) I highly recommend Taleb's books. It change the way you perceive things (not only finance-related). (I also have hard time following this advice, but I accept this noise more calmly after I read the Taleb's books. Also,"The Antidote" by Oliver Burkeman might help with your anxiety.)

MaidSafe vs Storj vs Sia

Are small transactions not economically feasible?

You can make small transactions using "banks" like Coinbase, Xapo and most cryptocurrency exchanges (they have account-to-account free transfer feature). You should trust these "banks" only for amounts you can afford to loss. Don't store most of your assets in "banks", be your own bank. It is similar to how the legacy financial system works - if you make bank-to-bank transfer you pay a fee. If you transfer between accounts within the same bank - this usually is free.

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