Probably the whole first year of bitcoin, there were probably less than 20 individuals in total mining bitcoin and on CPUs. .not GPUs or anything fancy.. I think Lazlo figured out the GPU thing in early 2010.. which was part of the reason he started to buy pizzas in around May 2010 with all of the bitcoin he was mining as compared with any other then existing miners at that time (before bitcoin even seemed to have any kind of a price).
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@infofront, make a poll please OGnasty or PAASHAAS
Would be nice to see who people following the most in a way of thinking for a near-mid term period.
Maybe a 3th option not to agree with any of them.
In your rendition of the world, as we know it, will there be an "OgNasty is retarded" option?
By the way, remember the good ole days when many of us (if not all?) "used to be" pissed off at Paashaas, based on his ongoing, incessant and persistent bear calls - which likely related to his having had sold too much of dee cornz too soon in the mid $30ks..
hahahahahaha
My how times change, no?
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As long as we having fun together not interested in one upsmanship or a dick swinging competition.
You are no fun!!!!!!!
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well for me with a measly 1.73 coins pushing to grow to 2 coins
which one should I pick to believe.
Hint it is not OG
here's why I am 69 and 1.73x40k=69.2 K
while 1.73x1,000,000=1,730,000
I rather get the 1.7 million plus easy pick for me.
As that is a life changing number for me. Even if I pay 600k in taxes on it.
In theory, you could stack more coins with the OG fantasy view.
Oh, and by the way, it is a bit presumption to expect high levels of BTC price performance, merely because we had high levels of BTC performance in the past.
Accordingly, it seems way more practical for guys to be preparing for a variety of scenarios, whether we are still accumulating more coins or not... .and yeah, there can frequently be a lack of patience to want to get to a stage of spending coins rather than accumulating them.. which is not as BIG of a problem for guys who have already gotten towards a decently large bitcoin stash and perhaps even to overaccumulation status where they have enough or more than enough bitcoin.
Even lower quantity of coins can be transitioned into sustainable withdrawal without trying to fuck around with trading, once we might figure out that we are no longer in our bitcoin accumulation phase - even though
right now, from my point of view, 1.73 BTC only gets you a sustainable withdrawal amount of right around $10,400 per year or $865 per month with a 7% per year increase, which still is not really bad for some people to have such a supplement of sustainable income - until such stage that there might be a determination to start to deplete the principle (which then is no longer sustainable withdrawal).
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Hackability
destroys immutability, what part of that do you not understand
Sure. Hacking coins is theft, yet changing property rights within the bitcoin code seems way more problematic than someone taking some keys that might have had been vulnerable (supposedly).
I think that I fixed the quote that you (OOM) had messed up. I was going to send you a merit OOM, but you misquoted.
I think that the quote should have had been like this:
~Difficult choices and that's why we all need to decide were we stand and hash it out now years before it becomes imperative.
A decade from now what will a coin be worth?
Those coins going liquid will tank the value now, imagine when the value it upwards of a cool mil.
It does not matter what the valuation will be at a given point of time,
BTCitcoin is created to be an
immutable asset and it should stay that way irrespective of what the economist think.
Seconded. If you ever worry about the (monetary) worth of Bitcoin, you didn't get the idea of it. Just because Satoshi advised to hodl Bitcoin and that it will go up in price by itself (yeah, i did put it quite simple here but i think you get what i mean), doesn't mean that this is the sole purpose of Bitcoin. It's just a (convenient) side-effect of a deflational asset.
Thinking of Bitcoin as a technology instead of an asset brought me through all those cycle bear markets without sweating. Sure, it's nice to zoom out and see my net worth going up only, but fiat richness is really not the meaning of (my) life.
Substantively, I think that you (OOM) are agreeing that bitcoin's asset properties should not be changed.
Poll
