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wycats's profile
Yehuda Katz 🥨
Yehuda Katz 🥨
Yehuda Katz  🥨
Verified account
@wycats

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Yehuda Katz  🥨Verified account

@wycats

Tilde Co-Founder, OSS enthusiast and world traveler.

Portland, OR
yehudakatz.com
Joined August 2007

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    1. DHH‏Verified account @dhh Jan 23

      Stripe is dumbing Bitcoin, cementing the fact that nobody even bothers to pretend it’s for buying stuff any more. All speculation, all the time.https://stripe.com/blog/ending-bitcoin-support …

      18 replies 99 retweets 309 likes
      Show this thread
    2. NVK‏Verified account @nvk Jan 23
      Replying to @dhh

      So much bitcoin hate on your tweets, I get, ICO/alts are all scams. Bitcoin is a whole different beast. Would totally take the criticism if you can point out 5 awesome things about Bitcoin.

      3 replies 1 retweet 11 likes
      Yehuda Katz  🥨‏Verified account @wycats Jan 23
      Replying to @nvk @dhh

      Bitcoin - solved an interesting CS problem - is useful for buying and selling illegal goods - has gone up in price making some people a bundle of $ - is an interesting case study - made a lot of people aware of the terms "fiat currency" and "crypto" Also DHH is right.

      8:59 PM - 23 Jan 2018
      • 2 Retweets
      • 24 Likes
      • Erwin Paolo Yumul Andrew Scheuermann pluto Richard Alex Gyoshev Rosius britton ballard Alex Melman Brad Landers
      3 replies 2 retweets 24 likes
        1. New conversation
        2. Ramon Tayag‏ @rtayag Jan 24
          Replying to @wycats @nvk @dhh

          It's a great way to transfer value for things like remittance. It has allowed companies to offer mid market rates (something you could only do with large amounts capital). Sure, I wish the tx fees were smaller, but it's certainly useful. /1

          1 reply 0 retweets 0 likes
        3. Ramon Tayag‏ @rtayag Jan 24
          Replying to @rtayag @wycats and

          I understand why you might focus on the meme of buying coffee with Bitcoin - your payment systems work well. In this side of the world though, they don't. And the wedge in has been Bitcoin /2

          0 replies 0 retweets 2 likes
        4. End of conversation
        1. New conversation
        2. Zach Aysan‏ @zachaysan Jan 24
          Replying to @wycats @nvk @dhh

          Well kinda. An idealized cryptocurrency wouldn't be terrible, but it would involve multi-country regulation. The problem is that there is no limit on the number of cryptocurrencies so you get these pump and dump scams. The other problem is that it goes around sanctions.

          1 reply 0 retweets 0 likes
        3. Zach Aysan‏ @zachaysan Jan 24
          Replying to @zachaysan @wycats and

          But I can imagine a better cryptocurrency where many of these problems were fixed. For example, nations could burn coins that were used for illegal transactions, and we could solve the infinite blockchain length problem by starting a new blockchain once a year.

          1 reply 0 retweets 0 likes
        4. Zach Aysan‏ @zachaysan Jan 24
          Replying to @zachaysan @wycats and

          That way people could be taxed because on Dec 31 they'd have to transfer their coins to their government's wallet. I know I'm being kinda vague, but I've thought this out.

          1 reply 0 retweets 0 likes
        5. Maxime Caron‏ @CaronMax Jan 24
          Replying to @zachaysan @wycats and

          “Nations could burn coins that are used for illegal transactions” No way this ever goes wrong!

          1 reply 0 retweets 0 likes
        6. Zach Aysan‏ @zachaysan Jan 24
          Replying to @CaronMax @wycats and

          Choose one: - Financial regulation, international sanctions, tax collection. - Unregulated cryptocurrencies. Once governments realize this tradeoff they will choose one of: - Ban cryptocurrencies. - Regulate cryptocurrencies. And the sooner we accept that the better.

          1 reply 0 retweets 0 likes
        7. NVK‏Verified account @nvk Jan 24
          Replying to @zachaysan @CaronMax and

          I don't think regulation capture will be possible for a good chunk of the economy. Sure, when ppl buy houses, cars, and other regulated assets proof of source can be enforced.But Just like torrenting, for everything else decentralized exchanges will make it a cat and mouse game.

          2 replies 0 retweets 1 like
        8. Zach Aysan‏ @zachaysan Jan 24
          Replying to @nvk @CaronMax and

          Governments can tilt the scales. The public wants to buy pot online and get rich with the new gold, they'll flock to the legal cryptocurrencies if the illegal ones come with serious time in jail. Torrenting is different because it doesn't enable mass corruption.

          1 reply 0 retweets 0 likes
        9. NVK‏Verified account @nvk Jan 24
          Replying to @zachaysan @CaronMax and

          Aside from many stretched assumptions there.What's impeding ppl from washing/swapping their illegal crypto for legal crypto w/ the right tools? Bans of digital things never work. This case scenario you describe will incentivize massive dark markets for low friction money laundry

          2 replies 0 retweets 0 likes
        10. 2 more replies
        1. Adnan Ahmad‏ @pknerd Jan 24
          Replying to @wycats @nvk @dhh

          Fine BTC sucks but what about Alts like Ethereum and Stellar?

          0 replies 0 retweets 0 likes
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