351–360 of 699 posts
China bans your crypto as illegal, while preparing their own national crypto chain(s). Sweden too right? US Fed in the mix with their own plans. "big thieves hate little thieves"
I wouldn't be surprised if that was the case, but it was just conversation over a beer. Someone else to confirm.
And the anti-cryptocurrency sentiment I've seen all over HN --- which appeared suddenly a few months ago --- is totally organic, right? I'm sick and tired of everything being a narrative manipulation op.
Blockchain, not specifically crypto currencies, are also a means to operate anonymously outside of an authoritarian government. Sure there are gotchas with remaining anonymous, but I am sure China wouldn't want a blockchain-based, mesh, peer-to-peer, or distrubuted network, that could operate outside of the Great Firewall's ability to regulate or censor it. High-power, long-range WiFi and mesh networks would be hard…
It's definitely not impossible to obfuscate and use crypto even in a country where it's banned, but it isn't that easy.
Excellent news for the climate.
Most mining has already shifted out of China, and Bitcoin mining is a very small percentage of electricity usage on the scale of "all electricity usage" - there are plenty of bigger fish (the argument then turns, validly, to the usefulness of said bigger fish in comparison to bitcoin).
Earlier quoted context omitted.
What defines cryptocurrency then? Not saying your wrong, but I'm curious.
I'm not sure there's an "official" definition, but generally crypto(currencies) are referring to currencies that are setup on a blockchain, or distributed ledger. In addition validator models, such as proof-of-stake and proof-of-work are used to validate and maintain the ledger. A digital currency does not require a distributed ledger, nor does it require a validator model as it is not distributed or trustless to beg…
Earlier quoted context omitted.
>The government failed to sell QE and bailouts to the population I recall a recent vote where someone was elected president by a significant majority running on just this platform.
I don't think Biden campaigned for unlimited QE and unlimited bailouts In any event even if this was true an ambitious organization such as the government can't be satisfied with 52% confidence in its financial planning
As a democracy, there's no alternative to the government working with whatever majority it gets.
Wonder if this will free up Graphics cards for gamers or if the mines will move country? Bsckground There is a severe shortage of gaming GPUs Geforce 30xx. Possibly semi conductor shortage / crypto mining.
I hope the rest of world follows. There is nothing more volatile than a decentralised crypto currency. The amount of people making a profit from it is less than 5% and energy consumption is beyond acceptable. Crypto as a tech to serve something different is totally fine of course.
What do you actually want Western nations to ban? The purchase and sale of digital currencies?? What if a nation adopts Bitcoin as its national currency? You can no longer buy and sell another nation's currency? What if you want to visit that country? (The what ifs will not end at these few examples.) I don't clearly see what you would actually propose banning. My opinion is it's technology, an idea, and that shouldn…