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Bitcoin Is Time

dergigi.com

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701–710 of 1001 posts

Re: Bitcoin Is Time

#701

Post by smolder »

alliao wrote: post #567
fredfoobar wrote: post #516

Earlier quoted context omitted.

Horses will work on YOUR schedule, and it's socially distanced during COVID.

with Animals being protected in my corner of the world, the way I'm neglecting my daily beater might land me in jail if it were a horse.......

Improperly maintained cars make me almost as sad as improperly maintained horses. We destroy billions of dollars worth of cars each year collectively because of people not affording/otherwise failing to do maintenance. On the flip side, thoroughly maintaining them would tend to result in a glut of older, less efficient cars, so it's not a cut and dry issue.

Re: Bitcoin Is Time

#703

Post by cyphertruck »

chipotle_coyote wrote: post #310
cyphertruck wrote: post #235

Earlier quoted context omitted.

That article is from 2013 and so we must grade it on a curve. He makes several wrong assumptions about how bitcoin works because he’s thinking it is based on trust, and he is an inflationist. I have yet to have an economist explain to me why deflation us bad- computers getting cheaper is good, fixed income people being able to afford things us good. Inflation mainly allows government to hand out money yo wall street…

> I have yet to have an economist explain to me why deflation us bad At risk of being the "Let Me Google That For You" Guy, it's not too hard to find articles where economists give cases against deflation, e.g.: https://www.brookings.edu/opinions/5-reasons-to-worry-about-... https://www.economicshelp.org/blog/978/economics/definition-... https://www.pbs.org/newshour/economy/why-is-deflation-bad The basic argument is…

“This has been particularly noticeable in computers over the last three decades, but Moore's Law isn't a supporting argument for the benefits of monetary deflation.”

Asserting that an argument is not an argument is not a rebuttal.

The claim that people having more purchasing power will stop the economy is self serving for inflationists and never supported by evidence.

In fact the opposite has been the case time and time again.

As I proved in the example you simply ignored.

So, like I said, I have never seen an argument. Just these kinds of self serving assertions.

Re: Bitcoin Is Time

#704

Post by fwiwm2c »

Tenal wrote: post #557
fwiwm2c wrote: post #445

Earlier quoted context omitted.

You won't. This is why Bitcoin is valuable since it has stood the test of time and has gained more acceptability. Nanos and other nonsense coins are just trying to attack the emperor in the hope that they come close to it and thus make the speculators a lot of money.

It's weird how hard you go against literally anything except Bitcoin because of your rabid obsession with whatever paltry sum of money you've made over this one dated technologically is. You're literally like a cancer-ridden coal miner coughing his last lung to keep the mines open. Good riddance.

Wow - someone missed the train and is salty. HFSP.

And you are not getting rid of me btw.

Re: Bitcoin Is Time

#705

Post by xirbeosbwo1234 »

gruez wrote: post #483
xirbeosbwo1234 wrote: post #303

Earlier quoted context omitted.

It suffers from all the same problems. The only advantage it has is that they chose a slightly larger arbitrary constant. It still does not and can not scale. One order of magnitude makes little difference when we're dealing with something that is four orders of magnitude slower and four orders of magnitude more power-hungry than the competition. 100 maximum transactions per second is still orders of magnitude too lo…

>Obviously, what we need is the REAL Bitcoin from the confirmed legitimate Satoshi Nakamoto: Bitcoin SV. This is sarcasm right?

Yes.

Re: Bitcoin Is Time

#706

Post by cyphertruck »

luhn wrote: post #302
cyphertruck wrote: post #235

Earlier quoted context omitted.

That article is from 2013 and so we must grade it on a curve. He makes several wrong assumptions about how bitcoin works because he’s thinking it is based on trust, and he is an inflationist. I have yet to have an economist explain to me why deflation us bad- computers getting cheaper is good, fixed income people being able to afford things us good. Inflation mainly allows government to hand out money yo wall street…

If you don't like the Fed throwing money at rich people, you should probably be rooting for inflation. The historically low inflation of the past decade has them handing out money like candy.

We have not had low monetary inflation since at least the Ford presidency.

You are confusing the consumer price index for “inflation”. It’s understandable, this lie is one of the earlier examples of fake news.

When the fed prints money it goes to wall street and politically connected people. (This is quite literally the definition of fascism- a private economy run by government)

Wall Street profits from the inflation, but the rest of the people get poorer.

Re: Bitcoin Is Time

#707

Post by suifbwish »

boredpandas777 wrote: post #348

Let me fix that title. Happy to be downvoted into negative territory. I only have 11 points. Go ahead. "Bitcoin Is A Waste of Time (and Resources)" What Bitcoin has done is that it taught people they can come together in a sustained flash mob (like an on-the-fly hedge fund operation) and manipulate the price of speculative assets by creating artificial short-term pump-n-dump type demand. Bitcoin has trained our colle…

I believe it takes 72 TERAWATTS running for 10 minutes to mine one bitcoin. How is that justifiable when we are slipping deeper into an environmental crisis?

Re: Bitcoin Is Time

#708

Post by openfuture »

raziel2701 wrote: post #320
anthropodie wrote: post #298

That was an excellent read! Every time I read about Bitcoin here, I see the "Energy" arguments. Bitcoin was designed to solve a specific problem and it solves that. Even Satoshi himself would not have foreseen the energy requirements for PoW. If we had argued about energy requirements in late 60s we would have never reached Moon or built the LHC. Technological advancements will always need energy. We should be discus…

What problem did bitcoin solve?

The Byzantine generals problem.

Re: Bitcoin Is Time

#709

Post by cyphertruck »

UncleMeat wrote: post #536
cyphertruck wrote: post #235

Earlier quoted context omitted.

That article is from 2013 and so we must grade it on a curve. He makes several wrong assumptions about how bitcoin works because he’s thinking it is based on trust, and he is an inflationist. I have yet to have an economist explain to me why deflation us bad- computers getting cheaper is good, fixed income people being able to afford things us good. Inflation mainly allows government to hand out money yo wall street…

> and he is an inflationist Is this going to be a new slur from the community?

Wasnt a slur, but a representation of his position. It should be a slur, though, as monetary inflation is a tax that hurts the poor the most.

Re: Bitcoin Is Time

#710

Post by rpowers »

boredpandas777 wrote: post #348

Let me fix that title. Happy to be downvoted into negative territory. I only have 11 points. Go ahead. "Bitcoin Is A Waste of Time (and Resources)" What Bitcoin has done is that it taught people they can come together in a sustained flash mob (like an on-the-fly hedge fund operation) and manipulate the price of speculative assets by creating artificial short-term pump-n-dump type demand. Bitcoin has trained our colle…

I'm really glad someone can articulate what I've bee thinking for a long time. It started when I realized that bitcoin was being used to fuel dark markets then again when I saw that anyone was able to make a coin and pre-mine thousands before sharing with others struck with FOMO.
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