671–680 of 758 posts
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You'd think an intrinsically deflationary asset like Bitcoin would move differently in the face of USD inflation. Any explanation for why this might be?
Maybe people are selling it to buy cheap stocks.
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You'd think an intrinsically deflationary asset like Bitcoin would move differently in the face of USD inflation. Any explanation for why this might be?
Inflation figures are a leading indicator of US monetary policy. All other things being equal, higher inflation readings now means relatively tighter US monetary policy later on. Yes, the Fed has committed to allowing some >2% inflation to make up for past <2% inflation, but it's still the case that policy might tighten one day, and higher inflation now still brings that day closer than it would have been with lower…
It's the same thing with Turkey, Argentina, Zimbabwe etc. They suffered from poor farm yields. Turkey needs more investment into agriculture chemical companies, Argentina suffered a drought in 2018, Zimbabwe had land repossession but financial problems and lack of education prevent the new owners from farming on the land they acquired for free.
If Turkey can do enough investments it can solve its agriculture problems. If Argentina can diversify away from agriculture it will be less prone to droughts. If Zimbabwe supports farmers it can become self sufficient again. These are examples of persistent shortages, something fundamental broke there and the only way this can be fixed is by raising interest rates, crashing hard and then reallocating the economy to the things that are actually important.
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Trump never actually accomplished anything unless you count ugly casinos that go bankrupt and a golf resort. There is nothing redeeming there to outweigh the bad stuff. There's just bad stuff.
If becoming billionaire and being elected president of the USA is "not accomplishing anything", then I'll start hoping I won't accomplish anything in my life.
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He's a con artist, that's all
No--there was no movment on electrical vechicles before his interest. That alone should be enough to put his image on a coin.
https://www.energy.gov/timeline/timeline-history-electric-ca...
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You'd think an intrinsically deflationary asset like Bitcoin would move differently in the face of USD inflation. Any explanation for why this might be?
Because it's backed by the full faith and credit of absolute void.
The other factor is that the US has adopted the USD. The actual reason (e.g. guns) doesn't matter, it only matters that the decision has been made. You can buy things in the US with USD. Therefore the value of the USD is tied to how much stuff a dollar buys you.
The size of the Bitcoin economy is quite small. There are not many things whose price is denominated in Bitcoin, most shops just convert from the dollar price to Bitcoin, which means there is barely any price stickiness that keeps the value of Bitcoin stable. If anything it supports the instability of the exchange rate.
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Non mining nodes are programmed to follow the longest chain. That's so they are: readers. They are not writers. They act like slave nodes in a database. They have insignificant power in the grand scheme of things.
Longest _valid_ chain. Invalid blocks are just ignored.
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Apparently Vitalik has 333,000 ETH https://www.forbes.com/sites/michaeldelcastillo/2021/01/11/b .... Which would be 0.29% of the 115 million current supply. I guess Joe has the other 64.71%, or perhaps there are a whole bunch of other founders that I'm unaware of...
It’s probably for ethereum 2, which is PoS.
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"With the usually apathetic voters/stakers" What makes you think eth stakers are apathetic?
all experiments with onchain voting seem to have that problem, just like with voting in real life. read up on the DAO exploit and carbon vote. Even in a drastic situation turnout was low. It's a permissionless industry and I suppose people can try different things, but one thing that sets apart Bitcoin from everything else - it is not a democracry. Democracy was designed for cities of 50-60k in size, where only rich…
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Bans of future sales of ICE vehicles are a thing, a lot of countries either have them or are proposing them.
I'm willing to bet that Bitcoin mining will be 100% renewable (compared to 40-70% depending on whose numbers you look at today) before ICE vehicles are all gone. I'm basing this on the fact that miners are incentivized to always seek the cheapest source of energy and that renewable/stranded energy is only going to become cheaper over time. At one point, hydro/wind/nuclear will become much more cheaper than coal/fossi…
It doesn't matter if bitcoin mining specifically uses renewable energy. What matters is used in total by everyone. And bitcoin mining will always make things worse, no matter what kind of energy it uses.
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Proof of work also boils the planet. It needs to be banned, yesterday.
So do dishwashers and hot tubs, hypocrite.
Bitcoin does three transactions per second while using the energy of an entire country. The bitcoin network could be run on a single PC from 2004, but it uses, again, an entire country's worth of energy.
There is nothing in the entire history of humanity that has been as obscenely inefficient and wasteful as bitcoin.
Banning it is a no-brainer. The lowest hanging of low-hanging fruit for environmental improvement.