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721
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Bitcoin / Bitcoin Discussion / Re: The Environmental Cost of Bitcoin - Youtube Video
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on: November 11, 2012, 08:26:19 PM
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The main flaw in his reasoning comes in when he calculates the energy consumption of a single Bitcoin transaction (5...10 kWh), extrapolates that to all of Germany's electronic transactions (17 billion) and concludes that Bitcoin would need 85...170 TWh of electricity for Germany alone.
This logic is flawed because the energy cost is per block and never per transaction.
Yeah, I'm only about halfway through, but this and the other major assumption he makes, that somehow "creation" of Bitcoins is separate from transaction processing, means this analysis is pretty fundamentally flawed. Also, I'm not sure I really agree with the way he just sort of guessed at the amount of "e-waste" required to support Bitcoin. Though, I admit it is a valid concern that this is the first time I've seen anyone point out. I like the reference made at the beginning, to the energy cost of a banknote. It's kind of cool to think that having 25 banknotes costs you approximately 1 Watt. |
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727
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Bitcoin / Development & Technical Discussion / Re: Multiple addresses at once.
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on: November 03, 2012, 03:58:23 AM
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Yeah, this is a useful feature I've thought about before. Consider the privacy implications of this -- being able to send X amount to two different addresses owned by the same recipient. And having the client automatically select coins that aren't already linked to each other. If I'm not mistaken, wouldn't that destroy a lot of the assumptions of those who attempt to track transactions?
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729
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Other / Politics & Society / Re: The Hurricane Sandy False Flag
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on: November 02, 2012, 02:52:42 AM
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As for what this has to do with Bitcoin, well, that's a bit complicated. But the short story is that all of this, all of the military Keynesianism, the un-budgeted black-ops projects, the wars and destruction, are all funded by fiat money-printing.
It's not about prosperity, or "economy". It's about centralization, and control. If blowing up your house, or flooding your town, increases centralization and control, they will do it. And afterwards, they will print money to rebuild. The GDP and economic "efficiency" will rise, and most of us will be worse off.
But there will be lots of jobs. And lots of people dependent upon government. And lots of voters.
And that's all they care about.
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730
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Other / Politics & Society / The Hurricane Sandy False Flag
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on: November 02, 2012, 02:52:09 AM
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This was posted to Reddit almost a month ago. I quoted the pertinent part, but there's a link to the original and a screenshot in case it is taken down. http://www.reddit.com/r/conspiracy/comments/1107zp/hear_say_about_the_east_coast/http://i36.photobucket.com/albums/e49/benjamindees/reddit.pngher daughter and son-in-law were called into a private meeting on base regarding a probable evacuation scenario of the East Coast. (Son-in-law is in the Special Forces, apparently high up. I think the base was Ft. McPhearson in Georgia).
From what she said, the daughter and SIL where brought in and made to sign a non-disclosure agreement saying they would tell no one, under the penalty of treason, what they were told during the meeting. They were told that in 4-6 weeks (this was around 9/20) the East Coast would experience some type of disaster that would cause it to be under water. So, I don't know about you guys, but I don't really believe that the US government now has the ability to predict massive flooding a month in advance. They can't even seem to get the weather right one day in advance most of the time. And disclosing this is apparently treason? Doesn't sound right to me. Because, DHS head (and FEMA boss) Janet Napolitano doesn't seem too concerned. She seems focused on cyber-security: http://www.forbes.com/sites/seanlawson/2012/11/01/dhs-secretary-napolitano-uses-hurricane-sandy-to-hype-cyber-threat/And economists are actually claiming that the hurricane will be good for the economy. The Federal Reserve is gearing up to print more money: http://www.cnbc.com/id/49625920Obama is being praised by everyone, Republicans even, for the speed of his response. Think maybe he had a head start? P.S.- I just happened to stumble upon this YouTube comment while researching this:  Fort McPherson is apparently a FEMA site as well as military. Several months back, the rumor was that soldiers from Ft. McPherson had dressed as local police and blew up the house of a local "prepper" who raised chickens. This rumor was corroborated by an interview of the local police chief, shortly after the explosion, saying that his officers were not on the scene at the time, which conflicted with eyewitness reports. Also relevant: http://www.infowars.com/national-guard-whistleblower-doomsday-preppers-will-be-treated-as-terrorists/ |
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734
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Other / Off-topic / Re: What do you do with a flooded car?
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on: October 31, 2012, 04:07:30 AM
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So, the moral of this thread is that, in a functional capital market, flooded vehicles could be sold relatively quickly to those with the motivation to repair them and preserve some value before they turn to rust.
But here in the USSA, waiting around for the local soviet to inspect your otherwise salvageable car and give you a hand-out for it is far more lucrative.
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735
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Other / Off-topic / Re: The Singularity
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on: October 30, 2012, 01:41:07 AM
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In the end humans will stay, people who support environment and regenerative medicine will become elves, people who likes to destroy everything will become orcs, people who master science will become wizards and the life will bloom.  I think I read that book.   didn't know there was a book  |
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739
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Other / Politics & Society / Re: Good news; ECB 2012/10 report on virtual currencies
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on: October 30, 2012, 01:16:06 AM
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In electronic money schemes the link between the electronic money and the traditional money
format is preserved and has a legal foundation,[...]
is this the same as saying: electronic money has a fixed exchange rate to fiat currency while virtual currency floats? Yes. Money has future value. Currency has current value. |
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740
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Economy / Trading Discussion / Re: FinCEN says you must be MSB if you sell bitcoins for $
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on: October 25, 2012, 05:41:45 AM
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Joel, you aren't using the word "transmit" according to its legal definition. It doesn't mean the same thing as "trade". It means something like "trade via a third party." It is not the traders who are regulated. It is the third party "transmitter" who is regulated, for the benefit of the traders.
Sorry if I did not make this clear in my examples, but that's the reason I chose MtGox codes. In the case of MtGox codes, BitInstant acts as a third party "transmitter" between MtGox and the purchaser. In the case of Bitcoin, well, there is no third party since Bitcoin is just a communications protocol. The two parties, the buyer and seller, are simply engaging in trade, which the US at least has no jurisdiction to regulate.
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