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SAKUJ0 1,044 points

Man... they keep on delivering on Twitter. I'm usually not a fan of Twitter, but

FIAT is backed by gold, but Bitcoin is backed by fried chicken.

Another big rise in #Bitcoin. Hodl for the dip.

Not a bull market, this here is a chicken one.

Buy Original Recipe. Avoid alt-recipes.

Give us your Bitcoins. Then tell us how to spend a Bitcoin.

Hodl onto your buckets! Bitcoin just went up a whopping 0.0000037.

Bitcoin on the rise since we went live. You’re welcome

Was Satoshi the Colonel all along?

BitcoinReminder_com 1 point

This post was good for karma... high five

Asko101 2 points

Spend 10 dollars in fees to have a 15 dollar meal? No thanks

BitcoinReminder_com 0 points

Great - we found one who doesnt understand the point!

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BitcoinReminder_com commented on a post in r/Bitcoin
arbooe 1 point

Can you please explain what magic is in the 1MB number? If satoshi would choose 0.5 or 2 MB from the get go, would it make bitcoin fail? What about 1.01 MB?

BitcoinReminder_com 2 points

See the cornell study: http://fc16.ifca.ai/bitcoin/papers/CDE+16.pdf and richard heartwins talk about it: https://www.youtube.com/watch?time_continue=2941&v=iFJ2MZ3KciQ

Basically there would be no technical problem to increase the blocksize to 1.01 MB, but the deployment on the network leads to many problems (network partitioning, forked chains...), since it's a hardfork and old clients get incompatible. So you either go with a big change to make this change worth (but which leads to more centralization) or let it be and use scaling technologies like lightning, mast, schnorr which scale much much better than a block size increase.

arbooe 1 point

Are you sure that these scaling technologies will see large scale adoption before another coin replaces bitcoin?

BitcoinReminder_com 1 point

The scaling problems are not related to bitcoin, but to the blockchain technology itself. You can see this with ETH too, where many people said "oh look at bitcoin, so high fees... ETH will never have fees above 20 cent". => ETH has now on average ~3 USD fees. So no, I don't think any coin will replace bitcoin - because they will face the same problems if people start to use it.

Bitcoin has the advantage, that many developers are already researching and implementing these new technologies like lightning, mast and schnorr - other coins are still in the illusional phase of believing in unlimited onchain scalability.

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BitcoinReminder_com commented on a post in r/Bitcoin
qwerty622 6 points

...feel free to be ignorant of relevant facts?

BitcoinReminder_com -1 points

Its not really relevant if a bigger merchant stops bitcoin payments temporarily.

OhThereYouArePerry 1 point

Temporarily

These merchants have already been burned once on something that was initially considered a risk.

Why would they risk being burned a second time by re-implementing it?

If anything they’ll wait a long time until it’s “mature” enough for it to be less of a risk.

If enough merchants start thinking like that, then you have the problem where everyone is waiting for everyone else to jump in before they do.

“I’ll do X if you do it first!”

“Nu-uh! You do it first!

“No you!”

ad infinitum.

BitcoinReminder_com 0 points

As I said, just sell your coins if you dont feel fine with it.

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BitcoinReminder_com commented on a post in r/Bitcoin
_s0m3guy 1 point

Yeah this might be it.

And you are definitely right, we can all learn from all of this and use these past experiences to build better hardware for the future.

I too wish everything was open source on the Ledger so have a little more transparency on what is actually going on.

Ahah Electrum yeah I feel you, but to be honest I don’t use Electrum.

Let’s hope 2018 is the year we can have some bad ass tech to protect our investments, from prying hackers and bad actors!

To the moon brother!

BitcoinReminder_com 2 points

Since we just found out about spectre/meltdown, I would not trust any "secure element" out there. A general purpose chip which is easy reviewable is much better than a closed source "secure chip".

BitcoinReminder_com commented on a post in r/Bitcoin
RufusTheFirefly 9 points

A classic int instead of float mistake.

BitcoinReminder_com 1 point

Never use float for currencies.

VonPluring 1 point

Why?

BitcoinReminder_com 2 points
BitcoinReminder_com commented on a post in r/Bitcoin
BitcoinReminder_com -1 points

GDAX is a crappy exchange with many fuckups and bad developments the last years, especially the last months. Better migrate to Gemini f.e.

YaBaeAmin 2 points

GDAX IS litteraly the best exchange for me at least. 1 day delay deposits and withdrawals. ONLY 15 cents fee when Withdrawing money, and NO deposit fee. No fee on trading. For me its perfect in everyway exept the ID verification.

BitcoinReminder_com 0 points

And except the shitty fees they charge for their incompetent btc withdrawals and their outages when there is a lot of volume.

Iruwen 1 point

Well the EuGH (ECJ) decided that there should be no VAT.

https://curia.europa.eu/jcms/upload/docs/application/pdf/2015-10/cp150128de.pdf

BitcoinReminder_com 1 point

Lets hope they keep it this way.

BitcoinReminder_com 1 point

"we cant forbid 500 euro cash notes and then watch money laundry with bitcoin"

"all participants of a bitcoin trade should be identified - bitcoin would break down with identification"

"bitcoin needs a VAT, because its not a currency"

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