when people start basing their arguments on "all the in the universe" time to hit the bottle
what's next? in all of the universes?
good point. Pig production is limited by the amount of matter in a FINITE universe. I think this argument has gone off the rails. I think it might be better served by using "inelastic supply" rather than "scarcity". (Though there's a 37% chance that muddies things even further) |
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Well sure. "Each individual investor" decided that bitcoin is a speculative commodity, one which has lost 2/3rds of its value over the last 2 years. What's your point?
You know how we know you're a troll? Because you disagree with me, and can't refute my claims with facts & logic? Because you use outlying data in an attempt to spread FUD. That and the warty features and living under a bridge. |
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Brazil has real; Russia has ruble; India has rupee; China has yuan; South Africa has Ayn Rand.
Are you suggesting those are all USD?
No. But I don't see your point either. These countries want a replacement for the USD for petroleum purchases but it's not like they want to just displace it with someone else's currency, leading to the same issues. So they will band together to create something new that they can inflate to their mutual benefit. Will it be successful? Who knows. The point is more the way the wind is blowing which is away from acceptance of the US dollar as a safe instrument of exchange. |
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Well sure. "Each individual investor" decided that bitcoin is a speculative commodity, one which has lost 2/3rds of its value over the last 2 years. What's your point?
You know how we know you're a troll? |
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BRICS is a joke.
Perhaps. What it certainly is is an indicator of increasing dissatisfaction with the way the US is exploiting the dollar's status as the world's reserve currency. |
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Possible but unlikely. If they were that smart, they wouldn't be playing catch-up. Or more accurately, if their rulers were more honest, which they clearly aren't. Cartels don't last, because any profit above the free market level is just added incentive for individual cartel members to defect. How has OPEC kept oil prices high? oh, that's right, they haven't.
It's just too tempting for rulers to steal from subjects via inflation.
real world example: The Euro. If Europe can't come up with a currency to successfully compete with the dollar, what makes you think third world kleptocracies will?
However, the whole world is being stolen from via inflation by the US as a result of the petrodollar. BRICs is already making moves. It remains to be seen how it plays out but none of the BRICs members are backward countries in the middle of a desert who you can invade on a whim and string up the leader as a warning to others. You have a decent point on the Euro though. As far as I'm aware, there's been no big push for it to become a payment method for oil. Possibly the people at the top just have too many ties. Not so much with BRICs. |
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That's broke? Keynes was a seriously flawed economist, but give credit where credit is due.
I didn't say he stayed broke. |
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That binary view holds only if payout is predetermined, not managed/variable (as is the case with fiat currencies/economies). A 'ponzi' like that stays in a state of constant flux, so it's not even clear what's meant by 'collapse.' People get poorer? Die? World implodes?
The BRICs countries get fed up of getting screwed by the fed and create their own currency, for example. |
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As JM Keynes said, "markets can stay irrational longer than you can stay solvent".
The words of a gambler gone broke. |
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Fatman, You bashed me relentlessly for having a homeless coffee tip address for ppl that can empathize...not for me but so you can do a good deed and you bashed me! Funny thing is you sit on here begging for pros advice which is much worse because the homeless person only wants a meal and you want an island of your own!
maybe you are blind and don't see it...
But if you get an island of your own, you can fly all the homeless people there and the problem is solved (not for the homeless people, obviously but you get the idea) |
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Which is why ideally you want to make it as database agnostic as possible. If, for whatever reason, you want to use BDB 4.8, you should be perfectly able to with the only restriction being if new features are introduced which require newer database features.
There is no good reason to stick with 4.8 or even BDB other than "we haven't got around to fixing that yet"
To be clear, I don't even mind that we're locked to BDB that much but we are locked to 4.8 for the wrong reasons.
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Refueling almost complete, I think.
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So why are you bitching so much? Seems slightly contradictory, to say the least.
It's the "if you don't hear alternative arguments, they don't exist" school of debate. Hence the censorship on /r/bitcoin. Note that hdbuck isn't just saying that these arguments do not belong on this thread (which really they don't but whatever) but he also tries to get the last word in. |
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Holliday, I don't think a theoretical 7 TPS (or less than 3, as is apparently the actual case) can support global underground markets. Those are estimated to involve around 1.8 billion people, and account for 15% or so of the global economy. You're still left with only providing settlements for even this limited sector.
Your point about Bitcoin being poorly suited to regular transactions seems valid to me.The blockchain model itself seems inefficient when applied to long timescales and large userbases. Perhaps that's an insurmountable flaw.
Most (as far as I can tell) big blockers are not opposed to side-chains or other off-chain transaction methods. We are mostly opposed to blocking the removal of the temporary and arbitrary restriction. Particularly at a time when interest in Bitcoin is increasing and off-chain solutions aren't available for use. |
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Really, only 11 bidders? That is fairly bearish news, if true. Didn't we have close to 30 bidders in previous auctions?
Possibly in previous auctions, more than a few of the bidders submitted low-ball bids and didn't win so didn't play this time. Though it could just be lack of interest. |
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3 more hours and the USMS will notify the winning bidder that his bid has been selected.
Does anyone have a link to who were the bidders? The quantity of bidders and any description of who they represent? Nope. For some reason, the servants of the people like to keep such things to themselves. |
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3 more hours and the USMS will notify the winning bidder that his bid has been selected.
including the price per bitcoin? I think the winning bidder has quite a good idea what his bid was, no need for the USMS to remind him. Maybe he's not good at division. |
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Yep. Someone just wanted the auction bidders to pay something much higher than $230-ish. They literally ran it up for the lulz. No wonder the number of auction bidders dropped off.
Or perhaps wanted to reduce the competition. Risky way to do it if so. |
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