Except that what a blockchain fork allows is the ability to issue and trade a currency. So anyone can create currencies.noddy wrote:well the problem is that everyone is a rent seeker, left wingers, right wingers and centrists alike, we all love garunteed money for low stress reasons.Enki wrote: Indeed, but the reality is that we have a liquidity trap where the dollar is being captured by rent seekers and not flowing to lower levels because those lower levels are losing the value of their labor due to increases in the efficiency of automation.
between the government, the working families who still have jobs and the corporations i think you will find these liquidity trapped unemployed have exactly the amount of resource that their "betters" think they should have - to the cent.
bitcoin or variations upon it, will not change this one iota - all that will happen is that the crypto currency becomes part of the standard basket and the rest adjusts to suit, or it becomes the backbone of the blackmarket.
no other outcome is possible.
Bitcoin and other cryptocurrencies
Re: Bitcoin
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
Re: Bitcoin
It seems that anyone has.
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
- Nonc Hilaire
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Re: Bitcoin
One step removed from trading gift cards, jugs of Tide laundry detergent and prison cigarettes.Typhoon wrote:It seems that anyone has.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
Re: Bitcoin
Yep.Typhoon wrote:It seems that anyone has.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
Re: Bitcoin
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
Re: Bitcoin
Seems like a currency that is racist.Typhoon wrote:
Good idea, but beercoin or tequilacoin would be more liquid. But every bit as racist.
I tried to sell some young hotties a few orgasmcoins the other day..... but they weren't buying...
Re: Bitcoin
bannana prices are very volatile in australia - they are highly susceptible to disease and storms.
would be an interesting currency if you are on top of the weather and news
would be an interesting currency if you are on top of the weather and news
ultracrepidarian
- Nonc Hilaire
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Re: Bitcoin
They should have called the coin 'Tallyman' instead of bananacoin.
6Tou8-Cz8is
6Tou8-Cz8is
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
Re: Bitcoin
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
Re: Bitcoin
ABC | Cryptocurrency backed by gold being developed by Perth Mint to entice investors back to precious metals
An interesting combination of the oldest and the newest.
An interesting combination of the oldest and the newest.
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
- Nonc Hilaire
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Re: Bitcoin
One problem here is the coin would be an equity. Every use might require gain/loss accounting and incur processing charges.Typhoon wrote:ABC | Cryptocurrency backed by gold being developed by Perth Mint to entice investors back to precious metals
An interesting combination of the oldest and the newest.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
Re: Bitcoin
perth mint has succesfully sold virtual gold products before - to them its just a variation on well established theme.
helps they have a shitload of gold and the support of the local government, so the downsides also come with upsides.
helps they have a shitload of gold and the support of the local government, so the downsides also come with upsides.
ultracrepidarian
- Nonc Hilaire
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Re: Bitcoin
Perth mint is well known. In US there are two basic types of gold, currency and bullion. If I but gold currency no problem but non-governmental products are subject to capital gains taxes when traded. Big accounting headache if trading or used in daily commerce as blockchain coin. Perth is the novelty Gold round/bar kingpin.noddy wrote:perth mint has succesfully sold virtual gold products before - to them its just a variation on well established theme.
helps they have a shitload of gold and the support of the local government, so the downsides also come with upsides.
Chinese ACChain wants to tokenize everything. Real estate, asteroids you name it. They want to replace Cede as the ultimate controller of all assets.
With digital assets the ownership stays with the blockchain and you get usufruct but remain a secondary holder. Just like stock, you cannot get a registered ownership certificate anymore. Cede, Inc owns the stock you pay for (street name) but gives you an IOU designed to look like you are the primary owner but really you are last in line should the stock go south.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
Re: Bitcoin
that makes sense but i suspect their market is the rainy day, hedge against finanical cockups market more than the day to day transaction market.
the cryptocoin you stash rather than spend as per the gold its based on.
the cryptocoin you stash rather than spend as per the gold its based on.
ultracrepidarian
Re: Bitcoin
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
- Nonc Hilaire
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Re: Bitcoin
There is an ongoing movement in to separate usufruct from ownership. The general idea is to marshall the legal ownership of assets into a seperate corporation (claiming easier conveyance) while giving the owners a usufruct which requires payment of rent to the owning corporation to maintain active status.
True ownership has been removed from citizens in real estate and securities. Alloidal title does not exist anymore and all securities are owned by Cede, Inc. with the purchaser at the bottom end of a lengthy hypothecation. "Homeowners" are legally merely tenants upon the land, authorized by government. Ownership certificates are no longer issued for stock, individuals just get iou's valued at the posted 'market' value. It is a type of modern feudalism where all is owned by the sovereign and the citizen merely granted use.
Blockchain currencies do the same thing with cash. Marshalling cash under blockchain ownership is necessary before negative interest rates can be applied effectively, and the ability of the individual to accumulate true capital is eliminated.
Soon the only true capital left for individuals will be portable physical assets. If all currency goes to blockchain and and all assets are tokenized we will be left in a neofeudal status that will make communism look liberal.
True ownership has been removed from citizens in real estate and securities. Alloidal title does not exist anymore and all securities are owned by Cede, Inc. with the purchaser at the bottom end of a lengthy hypothecation. "Homeowners" are legally merely tenants upon the land, authorized by government. Ownership certificates are no longer issued for stock, individuals just get iou's valued at the posted 'market' value. It is a type of modern feudalism where all is owned by the sovereign and the citizen merely granted use.
Blockchain currencies do the same thing with cash. Marshalling cash under blockchain ownership is necessary before negative interest rates can be applied effectively, and the ability of the individual to accumulate true capital is eliminated.
Soon the only true capital left for individuals will be portable physical assets. If all currency goes to blockchain and and all assets are tokenized we will be left in a neofeudal status that will make communism look liberal.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
Re: Bitcoin
everything is rented now, ownership is an archaic concept.
even if you think you own something like a house or a car the yearly license/tax/rates fees make a mockery of the concept anyway.
even if you think you own something like a house or a car the yearly license/tax/rates fees make a mockery of the concept anyway.
ultracrepidarian
- Nonc Hilaire
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Re: Bitcoin
This is why people like portable physical assets. Gold and silver bullion, ancient coins, etc.noddy wrote:everything is rented now, ownership is an archaic concept.
even if you think you own something like a house or a car the yearly license/tax/rates fees make a mockery of the concept anyway.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”
Teresa of Ávila
Teresa of Ávila
Re: Bitcoin
jury is still out if that remains true once the boomers hit full retirement and requiring pensions and healthcare.
ultracrepidarian
Re: Bitcoin
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
Re: Bitcoin
http://www.bbc.com/news/technology-42892380
it also represents quite the commitment in terms of the future of these crypto currencies, south korea is betting on them becoming mainstream.
dedicated custom hardware from samsungs fabs would change the game massively, all the wild west operations using GPU farms will get destroyed."Samsung's foundry business is currently engaged in the manufacturing of crypto-currency mining chips," it said in a statement given to the BBC.
it also represents quite the commitment in terms of the future of these crypto currencies, south korea is betting on them becoming mainstream.
ultracrepidarian
- Zack Morris
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Re: Bitcoin
Not all cryptocurrencies can be ASIC-accelerated. Ethereum for example, if I understand correctly, is basically an implementation of a Turing machine for all practical purposes and therefore requires a general purpose processor to execute its smart contracts.noddy wrote:http://www.bbc.com/news/technology-42892380
dedicated custom hardware from samsungs fabs would change the game massively, all the wild west operations using GPU farms will get destroyed."Samsung's foundry business is currently engaged in the manufacturing of crypto-currency mining chips," it said in a statement given to the BBC.
it also represents quite the commitment in terms of the future of these crypto currencies, south korea is betting on them becoming mainstream.
Re: Bitcoin
If you want to bet on the cryptocurrency market without dealing with its volatility. Buy Nvidia.
NVidia cards are dumb expensive because of Ethereum mining. And Crypto is merely a side venture for them, they aren't even focused on it.
NVidia has contracts with Hyundai, Volkswagen, Uber and Baidu for driverless cars. They are also focused highly on data centers and their cards are being optimized for AI applications.
I think Nvidia very close to being the dominant chipmaker. All of the markets they are in, they are the top tier and all of those markets are poised for explosive growth over the next decade.
NVidia cards are dumb expensive because of Ethereum mining. And Crypto is merely a side venture for them, they aren't even focused on it.
NVidia has contracts with Hyundai, Volkswagen, Uber and Baidu for driverless cars. They are also focused highly on data centers and their cards are being optimized for AI applications.
I think Nvidia very close to being the dominant chipmaker. All of the markets they are in, they are the top tier and all of those markets are poised for explosive growth over the next decade.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
-Alexander Hamilton
-Alexander Hamilton
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Re: Bitcoin
You realize your old occuply fleabag from the past would be throwing bricks through your window right now, right?
Censorship isn't necessary
- Zack Morris
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Re: Bitcoin
Nvidia are definitely poised for success. It's a solid investment. Immigrant Jen-Hsun Huang is a real American success story. But the chip market is undergoing profound changes. It's becoming increasingly feasible for giant chip consumers like Apple, Google, Facebook, Microsoft, and Amazon to design their own chips. Apple's effort is particularly impressive, spanning CPUs to GPUs to neural network accelerators to everything in between. They won't be buying Nvidia for their mobile devices.Enki wrote:If you want to bet on the cryptocurrency market without dealing with its volatility. Buy Nvidia.
NVidia cards are dumb expensive because of Ethereum mining. And Crypto is merely a side venture for them, they aren't even focused on it.
NVidia has contracts with Hyundai, Volkswagen, Uber and Baidu for driverless cars. They are also focused highly on data centers and their cards are being optimized for AI applications.
I think Nvidia very close to being the dominant chipmaker. All of the markets they are in, they are the top tier and all of those markets are poised for explosive growth over the next decade.