Let the Machines do the Work (The end of Slavery)

[FinShaggy]

And where are you going to get the money to give these away?

From selling things, and doing work. I am fortunate enough to have a (shitty) computer.

[FinShaggy]

Like seriously in like 2-3 months I'm going to be making threads like: "2,000th post gets a free..."

[myrkul]

Like seriously in like 2-3 months I'm going to be making threads like: "2,000th post gets a free..."

and in 4-5 I expect to see "FinShaggy still has not delivered..."

But at least it will be failing to deliver free stuff, instead of scamming people.

[FinShaggy]

Like seriously in like 2-3 months I'm going to be making threads like: "2,000th post gets a free..."

and in 4-5 I expect to see "FinShaggy still has not delivered..."

But at least it will be failing to deliver free stuff, instead of scamming people.

Lol, I will definitely be delivering.

Why do you have to come through here and say so many pointless nothings?

[Mike Christ]

snip

Thing is, you're missing the glaring hole I presented before:

Though you're right that not everyone can produce money, it's also costly to produce Bitcoin, and normal people can't live off it.  If everyone mined, you'd make very little (or less than what you're paying for the mining rig,) because everyone would be competing to the point where it was no longer profitable.  People stop mining when they can't profit.  Other people make more money when people stop mining, and it becomes profitable again.  If everyone mined, they'd have to do so out of force, because nobody wants to plug up a machine that works at a loss.

In other words, if you equip everyone with a mining rig, they're all going to make fractions of what they would've made if only a few people had mining rigs.  It all evens out; whoever has the most hashing power makes the most Bitcoin.  If everyone has roughly the same hashing power, they're all going to make just a tiny bit of Bitcoin.  It's doubtful that this will pay for the burned out computers, even if they're solar powered, not to mention the cost of living.

Plus, solar power is costly, too, due to physical equipment.  Geothermal would be better but even still, that would require a lot of cash to pull off.  So people, in the end, would still have to work.  It's better to create a society in which people can freely work as they see fit, than force a society which people must upkeep mining rigs that aren't making them money, and they'd have to look for work anyway.

[myrkul]

Like seriously in like 2-3 months I'm going to be making threads like: "2,000th post gets a free..."

and in 4-5 I expect to see "FinShaggy still has not delivered..."

But at least it will be failing to deliver free stuff, instead of scamming people.

Lol, I will definitely be delivering.

I'll believe it when I see it.

Why do you have to come through here and say so many pointless nothings?

A pathological need to correct stupidity, and to assuage my existential boredom?

[FinShaggy]

Thing is, you're missing the glaring hole I presented before:

Though you're right that not everyone can produce money, it's also costly to produce Bitcoin, and normal people can't live off it.  If everyone mined, you'd make very little (or less than what you're paying for the mining rig,) because everyone would be competing to the point where it was no longer profitable.  People stop mining when they can't profit.  Other people make more money when people stop mining, and it becomes profitable again.  If everyone mined, they'd have to do so out of force, because nobody wants to plug up a machine that works at a loss.

In other words, if you equip everyone with a mining rig, they're all going to make fractions of what they would've made if only a few people had mining rigs.  It all evens out; whoever has the most hashing power makes the most Bitcoin.  If everyone has roughly the same hashing power, they're all going to make just a tiny bit of Bitcoin.  It's doubtful that this will pay for the burned out computers, even if they're solar powered, not to mention the cost of living.

Plus, solar power is costly, too, due to physical equipment.  Geothermal would be better but even still, that would require a lot of cash to pull off.  So people, in the end, would still have to work.  It's better to create a society in which people can freely work as they see fit, than force a society which people must upkeep mining rigs that aren't making them money, and they'd have to look for work anyway.

I ALREADY REPLIED TO THIS...

There are more than one kind of coin, SWITCH COINS, or make a new one when it gets too hard. And as I said before, I'm not even mainly focused on BTC. The computers WILL pay for themselves.

Solar Power is costly if you want to solar power a building, but to just solar one room, or even just one outlet isn't too expensive. And there is the wind power alternative.

[FinShaggy]

Like seriously in like 2-3 months I'm going to be making threads like: "2,000th post gets a free..."

and in 4-5 I expect to see "FinShaggy still has not delivered..."

But at least it will be failing to deliver free stuff, instead of scamming people.

Lol, I will definitely be delivering.

I'll believe it when I see it.

Why do you have to come through here and say so many pointless nothings?

A pathological need to correct stupidity, and to assuage my existential boredom?

So you're just a troll... Great.

Just watch though, you don't have to believe me now, but that doesn't mean you can sit here and continue what you are doing.

[myrkul]

There are more than one kind of coin, SWITCH COINS, or make a new one when it gets too hard.

Right... just make up a new currency. You haven't thought that one through very far, have you?

[FinShaggy]

There are more than one kind of coin, SWITCH COINS, or make a new one when it gets too hard.

Right... just make up a new currency. You haven't thought that one through very far, have you?

Do you know what website this is?

[myrkul]

There are more than one kind of coin, SWITCH COINS, or make a new one when it gets too hard.

Right... just make up a new currency. You haven't thought that one through very far, have you?

Do you know what website this is?

Yes, BITCOINtalk.org.

[FinShaggy]

Yes, BITCOINtalk.org.

A place to talk about a made up new currency, lol.

[myrkul]

Yes, BITCOINtalk.org.

A place to talk about a made up currency, lol.

And who will buy your "ItGotTooHardCoin"?

Think about it. Why is Bitcoin worth money?

[FinShaggy]

And who will buy your "ItGotTooHardCoin"?

Think about it. Why is Bitcoin worth money?

Bitcoin is worth money because you can buy drugs with it, and now there are REAL stores that will accept it. On and off the internet.

And I could probably exchange my "ItGotTooHardCoin" for "FeatherCoin", since that's basically what feather coin is. And soon feather coin will be worth something.

[Mike Christ]

I ALREADY REPLIED TO THIS...

There are more than one kind of coin, SWITCH COINS, or make a new one when it gets too hard. And as I said before, I'm not even mainly focused on BTC. The computers WILL pay for themselves.

Solar Power is costly if you want to solar power a building, but to just solar one room, or even just one outlet is too expensive. And there is the wind power alternative.

Sounds like a lot of hope but not a lot of underlying planning.  When LTC gets filled up and is no longer profitable, you go to PPCoin; when PPCoin is no longer profitable, you go to TRC; when TRC is no longer profitable, you go to, I dunno, Bytecoin; eventually people start making their own coins and mine those, but are worth maybe .000001 BTC a piece.  Anyway, wealth isn't created out of thin air, unless we're talking about the banks, but as we can see, this isn't good for society at all.  If machines are doing all the work, we may as well not worry about money anymore; when people have food, shelter, water, security, all in one package, given to them, for free, they just go out and do their own thing anyway.

Sure, the computers may pay for themselves, but are they profitable, is the question.  If everyone is creating these currencies, no, they are not, because everyone is earning equal amounts of this currency; nobody wants something they already have.  It then becomes a matter of trading something which is no longer scarce, and would still be pointless, for people have no work to store in it; the work is already being done by something which needs no payment.

I know there's a road between now and a PSE or an RBE, but I don't think this is it.

[myrkul]

And who will buy your "ItGotTooHardCoin"?

Think about it. Why is Bitcoin worth money?

Bitcoin is worth money because you can buy drugs with it, and now there are REAL stores that will accept it. On and off the internet.

And I could probably exchange my "ItGotTooHardCoin" for "FeatherCoin", since that's basically what feather coin is. And soon feather coin will be worth something.

Uh huh. And when that got too hard? Just make another one, right?

[myrkul]

Bitcoin is worth money because people want it, and are willing to part with money to get it. If you made a new currency out of nowhere and said, "It's just like Bitcoin, except it's not Bitcoin, because Bitcoin got too hard to mine," You would get far, far fewer people wanting it, and they would want large amounts of it in order to give up anything of theirs. So, you make a few hundred thousand itgottoohardcoins, and trade them in for .1 Bitcoin. Yeah, still not making money.

[FinShaggy]

Sure, the computers may pay for themselves, but are they profitable, is the question.  If everyone is creating these currencies, no, they are not, because everyone is earning equal amounts of this currency; nobody wants something they already have.  It then becomes a matter of trading something which is no longer scarce, and would still be pointless, for people have no work to store in it; the work is already being done by something which needs no payment.

I know there's a road between now and a PSE or an RBE, but I don't think this is it.

Ok, finally a question I haven't answered yet being asked.

Are they PROFITABLE. True, maybe the computers can only pay for themselves. But when they are FREE, that is enough for you to start something new. It's like giving someone the gift of POTENTIAL.

And your argument of scarcity has been argued over and over, but the simple fact that coins have a limit makes that argument void. Sure they could drop in value, but as long as there are real world uses for them they are still better than the American dollar which is inflated every day by credit and printed money.

[FinShaggy]

And who will buy your "ItGotTooHardCoin"?

Think about it. Why is Bitcoin worth money?

Bitcoin is worth money because you can buy drugs with it, and now there are REAL stores that will accept it. On and off the internet.

And I could probably exchange my "ItGotTooHardCoin" for "FeatherCoin", since that's basically what feather coin is. And soon feather coin will be worth something.

Uh huh. And when that got too hard? Just make another one, right?

YES.

I really don't see why you have a problem with crypto currencies.

[FinShaggy]

The coin economy is similar to the Cannabis economy in Europe.

Younger people can find hash, but actual buds are hard to find unless you've got connections.

New coins will be hash, while old coins are like buds. And it will go from decade to decade, until we start making coins that can last entire generations. Old coins will be hard to get, while new ones will be in circulation.

And this HAS to happen.
One day too many people will have bitcoins in wallets they don't use, and the coin will go dormant, and a new one will be used.