Why would governments use a blockchain to enact fiat? Why would they just not print it at random as they have always done? It is easier, they know how that system works, and there is no advantage to them to put it on a blockchain.
Blockchain advantages in cost reduction There is absolutely no scenario under which a centralized blockchain implementation can be a cost reduction over a database. Exactly! |
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Stop focusing on something that isn't happening nos unless you wish to manifest it into reality now. Now is all that matters. Make this present moment positive the future will follow.
You sound very sensible, the sort of person that would not issue wads and wads of IOUs for chores that you will (or wont) do in the future. The sort of person that would not neurotically amass a giant store of weapons and ammo. Very sensible indeed, live for today and keep the decks for tomorrow clean, if only every human were the same. |
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I'm waiting for the next world financial crisis first before I even think of selling my coins.
When people run from fiat it will be epic...
We don't have to wait. I've got the popcorn out for Venezuela already, and Argentina is next on the timetable. Don't forget Ecuador in that region. They are outlawing Bitcoin altogether and releasing a state sponsored cryptocurrency. Their state currency today is at about 55% inflation per annum. >50% per month is consider hyperinflation, so the clock is running for them. With their weakening currency, and the strengthening dollar, they are on the path of currency failure, so this will be interesting. Either way if their state crypto works or fails it will be bullish for bitcoin. Bitcoin will be in Ecuador, it just won't be legal, which will allow the state to seize any they find as contraband. (much easier said than done) Just seen this, trialing it in November. Wonder how they wrote all the software so fast..  https://www.cryptocoinsnews.com/worlds-first-national-digital-currency-trials-ecuador/You already know  ... Just forked satoshis code, probably swapped out SHA256 for whirlpool or something and just run the whole thing on one cluster. centralized == fail, I suppose it's cheaper than printing notes though. |
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It has grown and grown for sure, but in the end the creditors will call in the debts (dump US bonds) then it's game over.
And what happens then? You know, if someone is selling, someone is buying  Yes there will always be buyers, but for what price? If someone places a humongous market sell order then it will rip down the bid order book to a very low price, which will (if it's low enough, i.e. china dumps) dissolve confidence in other holders causing a selloff avalanche and the order book will collapse leaving only the US to buy them back using physical assets or more likely screw the whole deal (which could lead to war). This is not "conspiracy theory", this is a fact of free markets. The holders all know the position they are in, they understand what a bond is perfectly, they are no longer in it for financial gain, the big holders use it as geopolitical leverage tool and will make a sacrificial move to crush the USD if they feel overly threatened. There are two end solutions [1] The books are balanced which is highly unlikely considering the US debt is growing exponentially and not shrinking. [2] War, a fair assumption considering USA has used much of it's petrodollar profits to build quite a formidable military. |
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it doesn't end. what is the incentive for ending it.
LOL.. Perfectly said. It doesnt end, it will grow and grow. History of all other fiat money says otherwise. It has grown and grown for sure, but in the end the creditors will call in the debts (dump US bonds) then it's game over. |
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Hi all,
When placing coolers on a HEX4M chips anything special to mind to? Or is it just the same as placing cooler on CPU?
Asking because in few days a new hex4m without coolers will arrive.
I've got standard cooling paste here, do i need special cooling paste, e.g. with extra silver in it, or can i use cooling pads instead of cooling paste?
Wilco
Depends on the quality of your cooler blocks. Some cheaper blocks (like mine) are not perfectly flat, giving rise to hotsposts on the die. this manifests as good hashing that goes bad after a little heat buildup, in this case you have two options: [1] lap your cooler blocks to get them flat and use a good paste. best option but alot of work if you have many boards. [2] use slim thermal pads with best conductivity you can get. this works better than paste because it has a little elasticity to it and always expands to fill voids. regardless you should go for best thermal conduction you can get, for paste I use shin-etsu. for pads i use a thin thermal adhesive pad, the type used for sticking sinks on RAM etc (smeared with shin-etsu) |
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I think the -0.322 correlation is for bticoin versus crude_oil. That's the default on page load, I click DOW, it updates the raw data window but the chart and main value still relate to crude  |
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i asked before, does a Dow top correspond with a Bitcoin bottom?
i think so.
hey cypherdoc, just eyeballing it... some inverse correlation has happened: dow(blue) + btc, both log scale:  perhaps we will see some further moves like that again soon. |
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Anybody want to predict the floor on Gold? And when?
$1192/Oz ... 3rd October 2014 ...  |
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An easy one is to be "Almighty". If it isn't Almighty it isn't a God.
Fair enough... Case closed! |
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Let me put this straight, a thing to be a thing has to have the characteristics of the thing.
If you have a small animal that barfs, you wouldn't call it a cat. If you have a small bush you wouldn't call it a tree. Same goes for God. Something to be God has to meet the "Godly requirements".
Yeah well that's the problem... as no "god" has been caught in the wild yet, nobody knows what it's characteristics (and thus requirements) are... back to square zero  |
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whats the minimum amps for the minion boards to get them to run
Could try this with 4 minions enabled: 1 HEX4M: 400 MHz 660 mV 170 GH/s 170 W 12V, 14.5A |
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If you want to say "I'm logical and objective" then you must say "I am agnostic"
Not quite! I believe many if not most are Agnostic towards God/s generally speaking. But the God/s humans talk about, like the Abrahamic God, you would need to be retarded to believe on it. It doesn't even qualify for any sort of God as it is a powerless God, often using humans to do the dirty jobs. Keeping it logic and objective, there a few requirements a God must fill to be a God or a possible God. And none of the religions that have God/s I know actually speaks about a qualified creature. So you are saying that if a person subscribing to religion A does not believe in the god of religion B then they are being atheist toward religion B? I think you misunderstand the words. To be theist you need subscribe to at least one "god" doesn't matter which one, even if it's a brand new one like the flying spaghetti monster. To be "religous" that god must be acknowledged by at least one other person. Atheism or Theism, both are closing ones mind without enough evidence. I think the builder/s of a simulated universe would tick all the boxes of being "god/s". You cannot be certain that we don't exist within a simulation. If you are then you are making claims beyond the scope of your perceptions ( a leap of faith ) and you are stood on ground as weak as any theist. What?! Your answer has absolutely nothing to do with what I said. Yeah sorry, I was still writing mainly about your previous post. From my experience most people profess to be Atheist or Religious. So what about you? Are you atheist or agnostic? |
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If there was a World War III, I feel like it might mark the end of the United States as a super power.
It would certainly remove USD from global reserve currency status. In fact we are already seeing global steps toward that before the war is getting "hot". Just need to look at the large energy contracts now being formulated without USD as trade token. So yes I agree. |
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Hey everyone,
I have been a lurker on this site for a while, and a holder for about a year or so. I've done a lot of searching, but haven't come across clear cut answers. I haven't really tried to mess with arbitrage, as I've done ok just holding/buying/selling during upswings and downswings. My question is, how quickly is the process to receive fiat from selling and btc from buying on the popular exchanges? I have been using coinbase, without a CC backup, so it takes a good week or so to receive fiat or btc. Are sites like btc-e and bitstamp quicker (same day)? I understand a lot of the delay is with the banks also. I'm just curious how all the other exchanges are, and if anyone can shed some light. There are plenty of times where I see great arbitrage situations and would love to capitalize on them. Does anyone use coinbase and use the CC verification, and have instant retrieval of fiat or btc? Unfortunately the CC I have doesn't work with their verification process, so I may have to get another, if it does in fact work instantly. Also, do other exchanges have buy/sell limits?
If anyone has experience, here is a situation I've been running through my head quite a bit:
Hypothetical prices: BTC-e: $310 Bitstamp/Coinbase: $320.
Buy 10 btc on BTC-e at $310 (with fees)
transfer btc
Sell 10 btc on Bitstamp/Coinbase at $320 (with fees)
$100 profit - fees.
How long would this arbitrage process take? Minutes? Hours? Days? Would this be something I could do multiple times a day, or multiple times a week?
I realize that this first trade isn't much profit, but I would compound each arbitrage trade on top of each other, compounding earnings at each available opportunity.
Thank you in advance!
Locking in the arbitrage trade is instant. Multiple times a minute is no problem, until you've spent all your fiat on the lower exchange, then you have to wait: You need to pipe the fiat back into the other exchange before you can do it again. All fees need to be accounted for, trade fees and fiat deposit/withdraw fees. You can't really compound your arbitrage bank, most arbitrage opportunities only have a small volume in the book. Same as short period daytrading. The only real way to do arbitrage with bitcoin nowadays is with bots, bots that constantly check inter exchange books for arbitrage opportunities and place the orders as soon as they appear. It's an arms race of bot reaction times. Your job would be to just manage the fiat transfer. Occasionally large arbitrage opportunities will exist for longer lengths of time, like the $300 wall on bitstamp the other day, but more often than not it's much smaller opportunities and they get snapped up by the luckiest/fastest bots. |
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If you want to say "I'm logical and objective" then you must say "I am agnostic"
Not quite! I believe many if not most are Agnostic towards God/s generally speaking. But the God/s humans talk about, like the Abrahamic God, you would need to be retarded to believe on it. It doesn't even qualify for any sort of God as it is a powerless God, often using humans to do the dirty jobs. Keeping it logic and objective, there a few requirements a God must fill to be a God or a possible God. And none of the religions that have God/s I know actually speaks about a qualified creature. So you are saying that if a person subscribing to religion A does not believe in the god of religion B then they are being atheist toward religion B? I think you misunderstand the words. To be theist you need subscribe to at least one "god" doesn't matter which one, even if it's a brand new one like the flying spaghetti monster. To be "religous" that god must be acknowledged by at least one other person. Atheism or Theism, both are closing ones mind without enough evidence. I think the builder/s of a simulated universe would tick all the boxes of being "god/s". You cannot be certain that we don't exist within a simulation. If you are then you are making claims beyond the scope of your perceptions ( a leap of faith ) and you are stood on ground as weak as any theist. |
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The asset bitcoin (with a lower case b) is somewhat of a currency (it is getting to be more so like one over time). Any currency will always be an asset, as this is just what a currency is
When I call it an asset I mean that it holds value in itself because of its scarcity, similar to gold and art. A piece of paper with a dollar sign on it does not, it only represents something that supposedly holds value.
People needs to forget about all the economic mumbo jumbo. It doesn't apply to Bitcoin.Backing up bitcoins with dollar bills doesn't make sense because it doesn't solve a problem. Thats where Bitcoin stands on its own. Yes bitcoin is the first time in recorded history of having a virtual token of finite issuance. |
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Wow, you guys are still talking about this. I think it's clear that if you build your world and philosophy around the idea of a god, you CAN'T accept science or anything else that would destroy your ego. Us non-believers need to understand that while it's easy to see that there is no god, it is asking a lot of believers to recognize the obvious. Its not just this one fact they have to accept. They must throw out all their notions about reality. Not everyone can do that.
Actually, the only thing that maintains the ability to believe that there is no God is the freedom that God allows. Close to proof for God: 1. Machine quality of the Universe; need a Machine-Maker that is not evident from the universe; 2. There is no such thing as pure random; random as we know it is a crutch to help us because of our weakness; evolution does not exist without God in no pure random; 3. Consciousness and conscience both suggest strongly that there is a God. These things are evident. They are even scientifically evident. The only time science nullifies them is when people pick and choose the science they are going to use, and then interpret their science in ways that they want, ignoring the other interpretations. 1: No it doesn't, if the universe wasn't in a state to support life the way it happened then we wouldn't be here to comment on it. Fine-tuned universe fallacy 2: Doesn't make any sense 3: No they don't, they suggest that we are conscience As long as you keep a narrow mind, or limit yourself to simple thinking, you won't ever understand. Since you obviously don't understand, who is the leader of your religion that has convinced you into believing the things that you DO believe? I mean, you obviously don't know it through understanding it. So you must have someone who has convinced you of it without understanding. Is he/she your high priest(ess) of your religion? Saying atheism is a religion is like saying nothing is a flavor of icecream. Nobody convinced me of anything, I've read up on the science and drawn conclusions Since atheism can't be proven to be correct, it is a religion in the way it is being handled. Once it is proven (if it is), then it will no longer be a religion. I would have to agree with BADecker here. A truly logical and objective person can't draw any 100% conclusions from sensory input that is presented to their conscious mind. For example we might be living in a simulation. Nobody can argue against the possibility of that. In fact most philosophical arguments would favor that we actually do. The creator of said simulation would be for all intents and purposes godlike. Any long drawn out purely logical debate will always lead to this conclusion. If you want to say "I'm logical and objective" then you must say "I am agnostic" I completely agree with emergent complexity through evolution, and it is awesome, but who is to say that's not just a program running in a simulation? |
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Bitcoin is the central bank, and the asset, and the currency, all at once. Thats why libertarians like it, finally they have something they can understand.
I like it because it prevents dumb lazy jerk parasites stealing my wealth while sitting on their fat asses doing NOTHING! |
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Fractional reserve banking is not needed.
Many laud the benefits of fractional reserve "it gives banks a way to control monetary base within a regulated environment".
But those regulations are just limits on the fractional ratio, and throughout history those limits always creep up and inevitably give way to fiat, which inevitably fails leaving the rich with all the gold.... EVERY TIME! (how dumb can the peasants be to do the same over and over lol)
From the perspective of us (the general public) it's a step down the slippery slope of money debasement. The myth that it is needed is propogated by folk wanting to funnel everyone elses wealth into their own coffers, and that's perfectly understandable selfish behaviour.
This need for monetary base control is a myth, the free market will do it without intervention. Global trade would work just fine with infinitely divisible gold coins (which is what bitcoin is very much like ). It wouldn't work fine however for fat asses who prefer to outsource their labor and pay for it with paper promises.
Money is just memory of debts between parties, bitcoin holds those debts in a ledger that can't be fucked with.
Why on earth would someone want to give some central body the ability to fuck with that ledger? It totally shits on what bitcoin IS!
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