331–340 of 377 posts
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Bitcoin is trading at 28k. When the dollar is endlessly printed, all you need to do is not sell your bitcoin and eventually you'll come out ahead. Because the dollar supply is infinite, it is not zero-sum.
If bitcoin was the only crypto, maybe, but there is an infinite number of possible crypto coins.
i think it was nvidia's ceo who said like a year ago (maybe more) that eth would be worth 8k usd soon... but agreed, not saying anything about its 'usefulness'
THE US DOLLAR ADDS NOTHING USEFUL TO SOCIETY. how about that?
> “All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian. No, the crypto mining industry collapsed because the largest GPU-mined cryptocurrency (Ethereum) removed the ability for people to m…
You're kinda right but it's also kinda right that after a decade+ crypto found like 1.5 useful applications and generative AI is finding some mind blowing product launch or demo something like once every 8 hours.
just ask it ;)
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Moving the goal posts a little but sure. Ethereum is eight years old. The Ethereum foundation alone has a billion dollars. Ethereum and the related ecosystem has had tens of billions of dollars thrown into it. I don’t know how that can be described as “infancy”. The web was opened by CERN in 1993. By 2001 it was being used by over 500 million people daily. Please look at an eth block explorer and tell me how many peo…
I can assure you that incredible software is being built and deployed. It's just a matter of time. Go ahead and come back to this post in a year and see.
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How does shifting from a physical currency based on the petrodollar to a digital currency backed by the petrodollar address any of this? Technology cannot solve problems of power…
The story of 'dollar backed by petrol' is fiction. Petrodollar exists as much as a corndollar exists. The dollar is US Treasury debt.
The US claimed to invade Iraq because they were holding WMD.
US led NATO forces claimed to liberate Libya because, checks notes, they were mistreating rebels in a “civil war” orchestrated by the CIA.
Yet both Iraq and Libya had the nerve to try and trade their oil in currencies other than USD. Coincidence?
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The topic of discussion is the limits on human rights that can reasonably arise to protect the public from real harm. What you're throwing into the mix is a suspension of human rights for... unethical research? Failing to see the distinction is really not something I can help you with.
What I've thrown into the mix is a suspension of human rights that was claimed to be for the purpose of protection but in reality caused harm. It wasn't simply "unethical research." If HIV and Syphilis are the best examples of reasons to suspend human rights then we are lacking in good examples. Far more often than not, human rights are a form of protection and their suspension is a guise for causing harm.
When I used the example of STIs, I was alluding to things like how the "duty to report" [1] and the criminalization of very limited and targeted behaviours [2] have the effect of narrowing very specific rights in very specific circumstances. These are policies that are reasonable and that generally are designed to limit rights and freedoms as little as possible in order to achieve a particular goal. We're not talking about suspending rights just because it's "convenient", and I wasn't alluding to using humans as guinea pigs for unethical research programmes... I don't know what you were thinking.
You apparently don't see the difference, but that doesn't mean you have special insight-- if anything, it just means you're confused about the principles at play (or, perhaps more charitably, you're assuming that I'm a fool and are misinterpreting what I'm saying).
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[1] https://medlineplus.gov/ency/article/001929.htm
[2] https://www.cdc.gov/hiv/policies/law/states/exposure.html
^ The provided links are US-centred (because I'm assuming most readers are American) but one can easily find very similar policies in Canada or almost any other developed country.
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The story of 'dollar backed by petrol' is fiction. Petrodollar exists as much as a corndollar exists. The dollar is US Treasury debt.
When was the last time the US invaded a country in false pretenses for trading corn in another currency? The US claimed to invade Iraq because they were holding WMD. US led NATO forces claimed to liberate Libya because, checks notes, they were mistreating rebels in a “civil war” orchestrated by the CIA. Yet both Iraq and Libya had the nerve to try and trade their oil in currencies other than USD. Coincidence?
How about militarydollar or imperialismdollar or neocondollar.
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Currencies are used to facilitate settlement of international trade. Trade in various goods and services. Central banks often carry reserves of various currencies to help with those international settlements and to manipulate currency values.
I see now -- the specific label of petro is wrong, but the general idea that the hegemonic control of critical commodities -> currency control is not then? And saying petrodollar would be like saying porkyuen or semiconductoryuen or something similar
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When was the last time the US invaded a country in false pretenses for trading corn in another currency? The US claimed to invade Iraq because they were holding WMD. US led NATO forces claimed to liberate Libya because, checks notes, they were mistreating rebels in a “civil war” orchestrated by the CIA. Yet both Iraq and Libya had the nerve to try and trade their oil in currencies other than USD. Coincidence?
I don't recall Vietnam or Laos trading much of anything before USA invaded. How about militarydollar or imperialismdollar or neocondollar.
Per Investopedia the petrodollar system was established in the mid-1970’s [0]
Per Wikipedia, the Vietnam war lasted from 1951-1975 and Laos from 1959-1975 [1]
In any case the argument wasn’t that the US only invades countries that try to sell oil in currencies other than USD.
It was that anytime a country tries to sell oil in a currency other than USD they automatically become enemies of the US and get invaded.
> How about militarydollar or imperialismdollar or neocondollar.
I think all those labels are also appropriate now that the Petrodollar system seems to be collapsing with Saudi Arabia, China, Russia and India all exploring the possibility of trading oil outside the dollar.
> “All this crypto stuff, it needed parallel processing, and [Nvidia] is the best, so people just programmed it to use for this purpose. They bought a lot of stuff, and then eventually it collapsed, because it doesn’t bring anything useful for society. AI does,” Kagan told the Guardian. No, the crypto mining industry collapsed because the largest GPU-mined cryptocurrency (Ethereum) removed the ability for people to m…
It's entirely possible for nvidia to be sour and also correct. Crypto currencies have done nothing for society but to introduce scam and money laundering vectors.