I believe you misunderstood. I mean bitcoin mining finished , 21 millions are created. Only transaction fees for miners. Ohhhhhh, you're hypothesizing about distant future scenarios and for some reason using the word "tomorrow". Still just as absurd. But to answer your question, imagine what would happen to the price of gold if tomorrow they announced the very last ounce of gold had been mined, and there was no more left to be found in the entire universe. Think back to economics 101 when you learned about supply and demand. What happens when demand remains the same, but supply drops to zero? |
|
|
|
...we'd have to compare prices on january 1 to whatever it'll be on december 31. if i recall correctly, we started the year out in the 900's.
Yes, we can all agree how important it is to evaluate Bitcoin's performance by selecting the correct arbitrary start and end dates, which should naturally be based on the position of the earth on its revolution around the sun. After all, one should always measure new technologies like Bitcoin by finding the oldest and least relevant technology one can think of, and applying it without thought or reason. /sarcasm Really, guys? I expect more intelligence from my fellow Bitcoiners. You disappoint me. Forget the dates. Dates don't matter - study the patterns.  |
|
|
|
What would happen if no new bitcoins are created ? I'd wait for the next difficulty adjustment, which would make mining FAR easier, then fire up my CPU miner and become a millionaire over night. Unfortunately for me, your scenario is exactly as absurd as saying, "what would happen if all the banks decided to leave the vaults unlocked & open, and turned the cameras off?" Miners are being rewarded (paid) to secure the network. It's profitable because it benefits Bitcoin. |
|
|
|
Whichever it is that you are subscribing to you are not doing a good job selling it with all your hateful posts. Cool story. You're still getting unplugged.  Unfortunately, sometimes humanity must be dragged kicking and screaming bloody murder into a new reality. Such was the case with the end of feudalism, such will be the case with the end of capitalism. And I've already explained the reasons why: "Before capitalism, there were other ways. Feudalism was what existed in Europe for a thousand years before we had modern capitalism. And before that, slavery - yet another system - another way of organizing who does the work and who gets the profits and so on. And the interesting thing is that every other system that we have a record of in the human race, was born, evolved over time, and eventually passed away. What always has intrigued me, is the need for those people living in capitalism today, to think it's going to be the great exception. It was born, basically in England 300 years ago, it has evolved over the last three centuries. But when you say, "yes, but that means it will also pass away and give rise to another system", people get all kinds of strange worries because they don't want to think about that. And so they begin to imagine that this system will be forever, in a way no other system in history has proved itself to be." -Dr. Wolff "And our resistance to any challenge to capitalism is ferocious in the United States. I mean the essence of the Cold War in our lifetimes is not the Soviets were intrinsically evil, it was that the Soviets practice an economic system called Communism, and that represents an existential threat to the United States, to our way of life, and to everything that we hold dear and believe to be true. And so it was really a battle over an economic system." -Thom Hartmann "Absolutely, I think the important things to remember are these. Before World War II, that is before the cold war that started after '45 got going, Americans were able to discuss capitalism as a system, socialism and communism as some of the various alternatives and so on. It didn't seem to threaten our society at least for large numbers of our people, to have a conversation, to assess the strengths and weaknesses of different systems. To be kind of rational adults talking about this question. And even after 1945 in places like France or Germany or Italy or many other countries that we are close to, socialist parties thrived. The French government today is a socialist government. Socialists are part of governments in many European countries, didn't seem to fall apart in Europe. It was something rational people could talk about. But here in the United States, it became a taboo. Since 1945, what you did is you shut down the debate. You made it no longer a question of discussing systems, trying to see if we could do better than capitalism in part - all of that became impossible. To question capitalism, let alone to explore the alternatives took on the aura of an act of disloyalty. It was wonderful for the capitalists, because it basically proscribed any kind of debate or discussion or criticism as beyond the pale. We are only NOW, fifty years into the taboo, finally coming out of the kind of funk that we were in as a nation. Now that we see how poorly the capitalist system serves the majority of people in the US, slowly we are emerging back to the place we should never have left - which is an open honest debate and discussion about the alternatives systems past, present, and future - that will shape how we live as a people." -Dr. Wolff ------------------------ This is precisely what I mean when I use the term "economic fundamentalism". You can see the logical leaps a person must make to believe capitalism is the be-all end-all of economics. This is what makes it a close cousin to religious fundamentalism. Conversations with Great Minds part 1 - Dr. Richard Wolff with Thom Hartmann Conversations with Great Minds part 2 |
|
|
|
From your rants, you seem to believe that the world is currently in the very antithesis of 'a more compassionate, more empathetic, more kind, more cooperative global society'. No, not the antithesis, not even close. The antithesis would be total fascism and/or slavery conditions. Nazi Germany is the antithesis. Actually, the world has been getting more empathetic and less violent with every passing decade. Social evolution continues and will continue long after you and I are dust. Long after capitalism is little more than another chapter in the book of human history. If indeed reason 'compels humanity forward toward a more compassionate, more empathetic, more kind, more cooperative global society', why are we not yet at your anarcho-commie utopia? You could pose this same question at any time throughout history, "why is human society not already a perfect utopia?" and it would always be absurd and moronic. Human society is always approaching - but never fully reaching - utopia. It's a slow, meandering, iterative process. Very slow at first. Slavery lasted for thousands of years. Then as momentum builds, the pace picks up. Society has socially evolved more in the past one hundred years than it had in the previous 300.  |
|
|
|
bailouts are the antithesis of capitalism. And yet if you listen to the High Priests of capitalism, the US economy would have imploded without the bank bailouts. Saying "bailouts are the antithesis of capitalism", while also ignoring the fact that capitalism has become more and more self-destructive over the past few decades strikes me as rather convenient. Witness, dear reader, the cognitive dissonance of an economic fundamentalist. So tell me - if someone walked up to you -- right now -- and took the computer upon which you are reading these words - what would be your response? I suppose I'd inform the librarian that people are stealing computers, and then move to the unoccupied machine to the right of me. |
|
|
|
I was expecting more of a fight from Shrem.. They must have scared him good in order to get him to agree to a plea deal.
Get yourself in the same situation and U'll know how does it feel like. Its not very pleasant when the state is against U. Look at Roger Ver. He had to leave the country... Valid point. What if there was a constitutional amendment that said the government can't spend more money than you can if you had to defend yourself. That would even the playing field, would it not? Or we could just end the failed, wasteful, racist, and cruel war on drugs and permanently ban the associated life-destroying, policing-for-profit witch hunts. Learn about Civil Asset Forfeiture"In 2000, Portugal decriminalized the use of all illicit drugs, and developed new policies on prevention, treatment, harm reduction and reinsertion. Drug use is no longer a crime, but it is still prohibited." http://en.wikipedia.org/wiki/Drug_policy_of_Portugalhttp://www.nytimes.com/roomfordebate/2014/03/17/lowering-the-deadly-cost-of-drug-abuse/decriminalizing-possession-of-all-illicit-drugshttp://www.spiegel.de/international/europe/evaluating-drug-decriminalization-in-portugal-12-years-later-a-891060.html |
|
|
|
I was expecting more of a fight from Shrem.. They must have scared him good in order to get him to agree to a plea deal.
"Alright Charlie, we own you now. You understand that? So if you don't want to spend the next twenty years having your face be used as a fucking condom for bubba, here's what you're going to say. You know what you did was wrong. Make sure you say the word 'narcotics'. It makes drugs sound way more dangerous and scary." |
|
|
|
The U.S. Government, currently in a legal battle against Microsoft, wants the latter to turn over a customer’s emails stored overseas that is suspected to be linked to a case of narco-trafficking. While the software editor denounces a flagrant infringement of privacy rights, the U.S. Government took refuge behind the argument that although the offending mail is located abroad, it is under the control of an American company and thus U.S. laws.
A victory for the United States Government could have serious repercussions for the Bitcoin industry where large amount of private keys (and thus of bitcoins) remain stored online, through hosted wallet providers. Read more here http://www.cryptocoinsnews.com/bitcoin-implication-usa-claims-rightful-access-data-stored-abroad/ Manifest DestinyAccording to USA, the world belongs to USA. |
|
|
|
True that, adoption has sparked right up Yep. Adoption happens irrespective of current price. If a technology is useful, it will come into use. Bitcoin is useful, plain and simple. Price follows adoption, not the other way around. Consider, dear reader, the implications of what I just told you... |
|
|
|
without profit there can exist no business. duh.
I guess that sinks my arguments about the inevitability of human social evolution toward greater empathy and compassion then, eh? why should human social evolution be towards greater empathy and compassion? why not 95% tend to evolve into selfish entities and 5% tend to be those who put compassion and empathy before their selfish desires? this is the natural order which is destined..and nothing can change that . Reason, you see, compels humanity forward toward a more compassionate, more empathetic, more kind, more cooperative global society. You can't win a battle against reason when your battlefield is time. So are you anti-business?
I am a post-capitalist. I possess radical imagination - I define this as the ability to imagine a better, more just, more reasonable, less violent future - and so I naturally regard modern capitalism as a dead thing walking.  |
|
|
|
without profit there can exist no business. duh.
I guess that sinks my arguments about the inevitability of human social evolution toward greater empathy and compassion then, eh? |
|
|
|
I am not worried at all.... Only reason for this, was big merchants coming in {Lots of new things to buy}, and hoarder spending coins. Then you have a "floading" or over supply of coins on exchange, pushing the price down.
As soon as the demand for BTC increase, when the hoarders stop spending and the "over supply" are reduced, the market will correct it self, and the price will skyrocket again. Yep. This guy gets it. Two images to help illustrate the point:  |
|
|
|
which of your cut'n'paste graphics panels was supposed to illustrate the dynamic between the looters and the Korean shopkeepers? This one:  No violence, no capitalism. Show me any capitalist society without systemic violence and I'll gladly sign up and stop criticizing. In what way is capitalism morally wrong? Profit = human exploitation = wage slavery = ethically awful Just off the top of my head: http://en.wikipedia.org/wiki/Foxconn_suicidesGoogle is your friend, this type of shit happens all the time. And those that "opt out" of their miserable wage-slave existence are merely the tip of the iceberg of human suffering caused by capitalism. To say nothing of the millions that starve to death needlessly each year. Although it doesn't really matter how many times or ways I spell this shit out for you. You have been indoctrinated to believe in the sanctity of the system since your formative years. Old lies die hard. Look at religion. It's been 300 years of this shit. Humanity can do better than capitalism. But nothing will change until we accept that it doesn't have to be this way. Remember, the entire history of human civilization is a series of revolutions. Change is the only constant, just as it always was. If you hate social evolution so much, why don't we go just go back to the older, purer forms of capitalism. Feudalism and slavery, sound good? No? You don't want to be a serf? Surprise, no one does. Let's make this next transition as peaceful as possible. The last was was a little bloody for my taste. Yours in solidarity and compassion, World Citizen Beliathon  P.S. The Korean shopkeeper with the glasses ended up going full postal after the minimall with his store was completely overrun by looters. The LAPD ending up executing him because he wouldn't stop firing on the crowd. |
|
|
|
|
Nation state fiat scrip has no true value, it's deteriorating funny-money - a depreciating asset in a depreciating world. The fiat exchange price merely indicates the collective piss-poor pattern recognition skills of humanity, and their lack of respect for mathematics.
Seriously though, look around you. People are stupid, stunningly stupid and obedient. How do you think the world got to be in such a sorry state?
Anyway, just give it time. The wise future-human holds and waits for the game to play itself out in the way the laws of the universe dictate it must.
|
|
|
|
|
"Professor Yermack argues Bitcoin should not be considered money, for a number of reasons"
I agree with him on that. Bitcoin is the exchange of bits of math data. And the concept of ownership does not apply on the blockchain, there is only control.
It should therefore be considered SPEECH rather than money. It follows then that BitLicense is null and void, and all charges against Charlie Shrem should be dropped as unconstitutional impingement of his free speech.
|
|
|
|
I know this may be shocking to realize but capitalists are human too with ethics and morality. Correct. Except when practicing capitalism. And the fact that you know it may be shocking to realize speaks volumes about your cognitive dissonance. Only 1-2 % of humanity falls in the category of sociopathy or psychopathy. Close. In her 2005 book The Sociopath Next Door, psychologist Martha Stout warned that about four percent of the U.S. population (12 million Americans) are sociopaths. And capitalism very naturally ensures that these sociopaths rise to the top of the hierarchy. |
|
|
|
Unfair characterization. Haha. Yeah, I had a feeling the capitalists would cry, "hey, that's not fair! That was during a riot! It's not like that happens every day!" The store could use polycarbonate lexan instead of glass, or have a lockdown room like jewelry stores have to prevent the crime of theft. Just 2 examples of non-violently securing property amongst many.
Rather expensive propositions for a shoe store in Koreatown. What exactly do you imagine the profit margins are like an enterprise like that? Guns are affordable, unlike lockdown rooms and polycabronate lexan. Remember this was 1992. |
|
|
|
|
Show Posts
