1971

I'm no cheerleader for the gold standard but what followed...

Might be an academic interest

Interesting. Perhaps with some kind of share reward? I don't think it would gain much traction but it could be fun enough.

Surely. But there are a few things you can do to make things easier for yourself until some degree of sustainability can be obtained. And those things are usually fairly cheap too.

And the truth is, disasters happen on a somewhat exponential scale. So being able to get along for a few weeks will keep you ready for many small things that could cause problems.

Fun fact: Human beings are one of the most adaptable species ever, managing to live in hot deserts, icy polar regions and even the vacuum of space. In terms of what would take us out, we're probably 1%ers

It's likely. But what if I don't?

Ugh. Philistine.

ftfy

But Starbucks isn't selling coffee, they're selling the experience (which is just as well cause their coffee isn't all that) and some cheap conspicuous consumption.

Hand-crafted Perl.

CB only tries uploading to imgur once and if it fails, the images are broken. I'll make it retry next time I'm in the code.

No one clamoring for the ATH pic? Oh well, have it anyway.

There was a lot of denial going on (Some might claim there still is ). Probably something akin to Stockholm syndrome. Some were even sending $$$ to the exchange just before it completely imploded.

Unrealised unless you sold *and* managed to cash out. Remember that Gox had frozen fiat withdrawals. If you were lucky or had decent spidey senses, you were using a different exchange but for many, even if they "won", they lost.

It was quite something. I put it up on the main TV just to watch it though I think I missed the very top. Exciting to see 4 digits though.

Almost forgot. Two years ago today... Kinda quiet TBH. The day before the 'ATH'

If you see me say it (and I do), be sure that it is tongue-in-cheek. The fundamentals to me mean we can not stay here for too long (though the direction is up for grabs)

I hope so. And people say things were OK last halving. But I think I noticed in the data that the block time did lengthen out for a while after it happened. I'll have to run the numbers.

The issue isn't obtaining bitcoins though, the issue is the lengthening of the block times and the corresponding drop on the transaction rate which may then cause the price to drop and make mining even more unprofitable which...

Yep. I'm actually fairly optimistic but there's a lot that goes into it. I believe the more efficient miners are running at about 33% cost at the moment (or that might be 33% profit. But somewhere in there anyway). That is a fair bit of elbow room. However, the hash rate is climbing rapidly, not all of which will be efficiency gains. I don't think miners are sitting on shelves either so it's likely climbing as fast as it can with what can be bought. Though there's two ways of looking at that. Would producers leave them sitting on shelves inactive, waiting for purchasers or have them running for "testing" (as BFL was often accused of)?

So hashrate will be climbing, price will (might) be climbing. There may be margins or not. There will be people who are willing to mine at a loss (though surely not the majority) just because and perhaps those who will be willing to mine at a loss *for now* in anticipation of higher prices. Then again, if you don't mine, the next difficulty adjustment will move further out and confidence in Bitcoin and hence, probably price will fall. But there's a prisoner's dilemma there. Block size may or may not be an issue still...

I'll be sure to have plenty of popcorn. There won't be another halving like this one.