Hacker News: nmlnn

New comment by nmlnn in "The Environmental Cost of Bitcoin"

nmlnn — Mon, 18 Jan 2021 00:30:06 +0000

That just means we disagree on what humanity needs. Good thing I don't have to justify how I spend my time and energy to you.

New comment by nmlnn in "Bitcoin emissions alone could push global warming above 2°C: study from 2018"

nmlnn — Mon, 18 Jan 2021 00:19:13 +0000

Maybe they do maybe they don't, it's impossible to tell other people what they need. The best you can do is educate them on the options you think could help, people will ultimately make their own decisions.

New comment by nmlnn in "The Environmental Cost of Bitcoin"

nmlnn — Sun, 17 Jan 2021 22:34:02 +0000

Trying to get people to understand Bitcoin is without a doubt the most productive thing I can do with my time for the future of humanity.

New comment by nmlnn in "Bitcoin emissions alone could push global warming above 2°C: study from 2018"

nmlnn — Sun, 17 Jan 2021 22:29:28 +0000

If someone figures out a way to do it, then sure. Mining ensures that no one in the system is able to get a new monetary unit below the market price as well as making tampering with past transactions uneconomical. Ultimately it's a very elegant solution to what was a long-standing problem.

The system pays for itself via transaction fees, which are used to "lock" the transaction history in a completely decentralised way.

New comment by nmlnn in "Bitcoin emissions alone could push global warming above 2°C: study from 2018"

nmlnn — Sun, 17 Jan 2021 22:09:06 +0000

If you're in Venezuela, Argentina, Lebanon, Turkey, Nigeria, etc. where your government is stealing your savings via massive inflation it's pretty useful.

It would definitely be better if the learning curve was shallower and the UI's easier, so that more people could be saved.

New comment by nmlnn in "The Environmental Cost of Bitcoin"

nmlnn — Sun, 17 Jan 2021 22:02:03 +0000

It's not like excess hydro power in China is stored anywhere. It's literally wasted.. why do you care if people use it to mine bitcoin? How is it cutting in to the energy that other people can use?

New comment by nmlnn in "The Environmental Cost of Bitcoin"

nmlnn — Sun, 17 Jan 2021 21:58:51 +0000

You can't drive up the cost of "waste", all you can do is use it such that the waste is decreased. If people want to make hydrogen with it they should do so. As I said, the Bitcoin network is not capable of bidding for energy at higher prices.

Your argument boils down to: why aren't people doing this uneconomically viable thing that I think is better than this other economically viable thing.

New comment by nmlnn in "Bitcoin emissions alone could push global warming above 2°C: study from 2018"

nmlnn — Sun, 17 Jan 2021 21:52:54 +0000

*Citation Needed

New comment by nmlnn in "Bitcoin emissions alone could push global warming above 2°C: study from 2018"

nmlnn — Sun, 17 Jan 2021 21:37:24 +0000

Bitcoin doesn't waste energy. Bitcoin consumes energy waste.

The global market for adding bitcoin blocks is as competitive as it is possible to get. No barriers to entry, no one even has to know who or where you are. As such only miners who can secure the cheapest energy survive.

Excess hydro capacity in China during rainy season; capturing flared gas from shale oil fields in the US; geothermal in Iceland; any source of stranded or wasted energy.. bitcoin mining will soak it up.

Bitcoin mining using fossil fuels is simply not cost competitive.

This "#hashes => #GWh => #tonnes CO2", is broken logic full of unsubstantiated assumptions made by bitcoin haters.

New comment by nmlnn in "The Environmental Cost of Bitcoin"

nmlnn — Sun, 17 Jan 2021 21:35:42 +0000

Bitcoin doesn't waste energy. Bitcoin consumes energy waste.

Bitcoin mining using fossil fuels is simply not cost competitive.

This "#hashes => #GWh => #tonnes CO2", is broken logic full of unsubstantiated assumptions made by bitcoin haters.

New comment by nmlnn in "The Bit Short: Inside Crypto’s Doomsday Machine"

nmlnn — Fri, 15 Jan 2021 21:57:14 +0000

Nope, that's why I'm so confident. The entire point of Bitcoin is to remove the need for trust and replace it with network consensus rules and proof-of-work, both of which you validate yourself. Since, to me, that's far superior to the current system - I just see it as an inevitable transition.

New comment by nmlnn in "Uganda's internet Shutdown"

nmlnn — Fri, 15 Jan 2021 21:36:32 +0000

How would they enforce such a ban?

New comment by nmlnn in "The Bit Short: Inside Crypto’s Doomsday Machine"

nmlnn — Fri, 15 Jan 2021 10:39:35 +0000

If people want to short bitcoin or tether, they should do so. However, I don't really get all the internet whining. If they're right they'll make a lot of money. I don't buy these concerned citizen FUD posts though, they reek of manipulation. If there's one thing I've learned over the last 25 years it's.. don't trust random people on the internet.

New comment by nmlnn in "Signal WhatsApp Chats Import"

nmlnn — Fri, 08 Jan 2021 20:27:47 +0000

Am I missing something? That's how their backups work currently

New comment by nmlnn in "Poll: Switching from WhatsApp"

nmlnn — Thu, 07 Jan 2021 20:59:35 +0000

Do people not realize they can run more than 1 messenger app at a time?

New comment by nmlnn in "EFF to FinCEN: Stop Pushing for More Financial Surveillance"

nmlnn — Tue, 05 Jan 2021 12:34:54 +0000

> sexual exploitation, human trafficking, modern day slavery, organ trafficking, high value thefts (petrol, or digits bank robberies), standard social engineering scams etc

That kind of logic can be used to justify putting government cameras and microphones inside everyone's homes too.

New comment by nmlnn in "Bitcoin is a disaster"

nmlnn — Fri, 01 Jan 2021 09:19:11 +0000

Sure, not until some entity gets over 50% of the stake

New comment by nmlnn in "Bitcoin is a disaster"

nmlnn — Fri, 01 Jan 2021 02:54:32 +0000

Sure, you just need to trust people.

New comment by nmlnn in "Bitcoin is a disaster"

nmlnn — Thu, 31 Dec 2020 23:42:15 +0000

They both want to scale transactions, they just disagree about how. Bitcoin Cash wants much higher transaction throughput at the base layer (i.e. the actual blockchain). While Bitcoin wants the high throughput lower value transactions to happen at layers built on top of the base chain, e.g. Lightning

New comment by nmlnn in "Israeli startup claims Covid-19 likely originated in a lab, willing to bet on it"

nmlnn — Wed, 30 Dec 2020 23:59:19 +0000

Not really, the Wuhan lab received funding for the studies into gain of function for bat coronaviruses from the NIH (via EcoHealth Alliance). The incentive to bury the origin (if this was the origin) would be high for the US and China both.