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MindsFiction's profile
Justin
Justin
Justin
@MindsFiction

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Justin

@MindsFiction

Joined September 2014

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    1. Andrew Ruiz‏ @then_there_was Apr 6

      Peter Thiel once said Bitcoin is too slow to be effective for transactions, but it'd be effective as a store-of-value. I agree. In its current implementation Bitcoin is too slow to be practical for everyday transactions.

      2 replies 0 retweets 2 likes
      Show this thread
    2. Andrew Ruiz‏ @then_there_was Apr 6

      If I had to guess, I'd say new technologies will evolve on top of Bitcoins ability to store value. It'll be a weird hybrid between existing technologies like Chase Quickpay and Venmo which allow you to transfer money quickly.

      1 reply 0 retweets 1 like
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    3. Andrew Ruiz‏ @then_there_was Apr 6

      I believe the first use cases will be in places where people have to flee a dictatorship/civil war but can't transfer all their assets because the government will seize them. So they'll take a risk and transfer their money as Bitcoin then withdraw when they're safe.

      1 reply 0 retweets 1 like
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    4. Andrew Ruiz‏ @then_there_was Apr 6

      I don't see Bitcoin becoming a global currency until it resolves the transaction time. And it's not obvious to me that we have the existing technology to dramatically reduce it. Some new innovation will have to come along to augment the blockchain protocols.

      2 replies 0 retweets 0 likes
      Show this thread
      Justin‏ @MindsFiction Apr 6
      Replying to @then_there_was

      Lightning is a trustless network built on top of Bitcoin, which allows instantaneous payments. Lightning is currently in beta.https://youtu.be/8zVzw912wPo 

      2:09 PM - 6 Apr 2018
      • 1 Like
      • Andrew Ruiz
      1 reply 0 retweets 1 like
        1. New conversation
        2. Bitcoin Cash (BCH) News Updates‏ @BTCNewsUpdates Apr 6
          Replying to @MindsFiction @then_there_was

          Bitcoin Cash (BCH) News Updates Retweeted Bitcoin Cash (BCH) News Updates

          https://twitter.com/BTCNewsUpdates/status/982115235954741250 …

          Bitcoin Cash (BCH) News Updates added,

          Bitcoin Cash (BCH) News Updates @BTCNewsUpdates
          🇦🇺 Bitcoin Payment Processor BitPOS Closes. Cite a "shift in perception of Bitcoin from currency to investment." The BTC ecosystem keeps shrinking to make room for fee harvesting Lightning. Read more: https://bitsonline.com/bitpos-payment-processor-closes/ … Why Lightning: https://twitter.com/BTCNewsUpdates/status/981185639910641670 …
          1 reply 0 retweets 0 likes
        3. Justin‏ @MindsFiction Apr 6
          Replying to @BTCNewsUpdates @then_there_was

          "Fee harvesting lightning" Your employer needs to pay for better staff. 😂

          1 reply 0 retweets 0 likes
        4. Bitcoin Cash (BCH) News Updates‏ @BTCNewsUpdates Apr 6
          Replying to @MindsFiction @then_there_was

          Bitcoin Cash (BCH) News Updates Retweeted Bitcoin Cash (BCH) News Updates

          You have a problem understanding facts?https://twitter.com/BTCNewsUpdates/status/981185639910641670 …

          Bitcoin Cash (BCH) News Updates added,

          0:33
          Bitcoin Cash (BCH) News Updates @BTCNewsUpdates
          Blockstream Corp. Profit Model: Extract Bitcoin's value by imposing fees ⚡️. How can they be imposed? By disabling Bitcoin and then claiming it cannot work on its own.🙅‍♀️🙅‍♂️ pic.twitter.com/AWlspUMEjk
          0 replies 0 retweets 0 likes
        5. End of conversation

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