Bitcoin....who's gotten into it?

[old goat]

That guy is a fucking tool. Just throwing up juvenile straw men instead of trying to actually understand the real economic arguments for why deflation is bad.

Go look at what’s happened historically when there’s been deflation and what shape the economy was in. Maybe start with the Great Depression. It’s not just a fucking sign that productivity has already increased. It’s a fucking feedback loop, which countries broke out of by leaving the gold standard.

Attachment 476808

Looking at that graph one might argue (as many have argued for a long time) that arming for war is what got those economies out of the toilet. Maybe that graph also explains why France fell to Germany so quickly.

Here's another article from the great BTC shilling center [checks notes] Cornell University. Can you change your opinion based on new information? Or are you in a cult?

https://www.engineering.cornell.edu/...gy-development



Sent from my Pixel 7 Pro using Tapatalk

As best as I can tell from the press release and the abstract (the full article is paywalled and I'm not about to pay for bullshit) it sounds like the researchers didn't actually study any actual projects financed by bitcoin but just looked at some planned projects and guesstimated how much profit they could make if they sold a lot of power to bitcoin miners until they joined the grid. So what--some builds a mine next to a remote renewal project, buys the electricity until the project starts selling power to the grid (how long would that go on) and then the mine is abandoned. Unless I'm reading wrong there is not an actual project financed by bitcoin. And if there is not enough economic incentive for renewable projects so that bitcoin is the answer--that needs to be fixed. What I would really like to know is who financed the study besides the NSF. To me the key to understanding a scientific paper is knowing who paid for the research.

[J. Barron DeJong]

Looking at that graph one might argue (as many have argued for a long time) that arming for war is what got those economies out of the toilet. Maybe that graph also explains why France fell to Germany so quickly.

Looks like Japan didn’t ramp up war spending until later:

(debt/GDP)



FWIW, that original graph came from Brad Delong who teaches (or at least taught) economic history at Berkeley. He’s also a bit of a military history guy, and a Keynesian economist, so I’d be very surprised if he had neglected government war spending.

[garyfromterrace]

.

BTC can drive clean energy development .

That's ludicrous. It's "manufacture" uses large amounts of energy to make nothing tangible. So why, in a world that is forced to burn coal in order to help supply our ravenous need for energy, would you want to burn more coal to produce a speculative "currency" that very few people use?

[byates1]

Gary has a firm grasp of... nothing.

"I'll be buying the top forever"

-Saylor

[Whiteroom_Guardian]

Professional crypto analyst friend of mine who's been hodling since 2012 with thousands of international clients: All bull in 2024. Buckle up and fill your bags.


Take that for what you will.

[bennymac]

Sheit. I was about to unload some to buy summer gear and a new XC bike given all the black Friday deals. Guaranteed fun next summer or roll the dice….dilemma as old as time.

[dunfree]

Looking at that graph one might argue (as many have argued for a long time) that arming for war is what got those economies out of the toilet. Maybe that graph also explains why France fell to Germany so quickly.


As best as I can tell from the press release and the abstract (the full article is paywalled and I'm not about to pay for bullshit) it sounds like the researchers didn't actually study any actual projects financed by bitcoin but just looked at some planned projects and guesstimated how much profit they could make if they sold a lot of power to bitcoin miners until they joined the grid. So what--some builds a mine next to a remote renewal project, buys the electricity until the project starts selling power to the grid (how long would that go on) and then the mine is abandoned. Unless I'm reading wrong there is not an actual project financed by bitcoin. And if there is not enough economic incentive for renewable projects so that bitcoin is the answer--that needs to be fixed. What I would really like to know is who financed the study besides the NSF. To me the key to understanding a scientific paper is knowing who paid for the research.

you work wood, Japan pissed away a long time trying to drill the bore holes in the 36”+ thick launch ways (Oregon DF) for Musashi, when what they needed to do was reduce the fuckups in their hugely human dependent turrets. 100+ people to fire a shot. if spent, it’s not all useful.

[Bunion 2020]

Professional crypto analyst friend of mine who's been hodling since 2012 with thousands of international clients: All bull in 2024. Buckle up and fill your bags.


Take that for what you will.

Is his handle Stalefish?

[neufox47]

Professional crypto analyst friend of mine who's been hodling since 2012 with thousands of international clients: All bull in 2024. Buckle up and fill your bags.


Take that for what you will.

Was there a time he was bearish?

[up an down]

https://bbc.com/news/technology-67564205..... Link to a BBC story about how Bitcoin mining uses enormous amounts of water......

[byates1]

https://www.coindesk.com/business/20...aign=headlines

I feel like this may be dunfree, bunion, bennymac, or mustonen.

[bennymac]

Ha - I wish. I didn’t sell any BTC this month to buy Black Friday bike parts - but I also didn’t buy any.

[byates1]

I've been earning 50$ a month in BTC running everything through my Venmo visa. No buying fee. Just going to do that for the next 20 years, if that number 5x's on average, that'll be 60k or so. I'll report back.

[stalefish3169]

Shorts getting bodybagged rn.

[Bunion 2020]

I've been earning 50$ a month in BTC running everything through my Venmo visa. No buying fee. Just going to do that for the next 20 years, if that number 5x's on average, that'll be 60k or so. I'll report back.

Hope that works. Lot of business's are no longer accepting plastic due to the fees they must pay. Just dropped $3K on a new pressure tank and some plumbing work. No CC accepted.

[stalefish3169]

Hope that works. Lot of business's are no longer accepting plastic due to the fees they must pay. Just dropped $3K on a new pressure tank and some plumbing work. No CC accepted.

So this makes you...bearish on crypto?

[shera]

The amount of btc held by Saylor is freaking me out. I don't know exactly what's wrong about it, but it can't be good for one person to have that much control.

[skaredshtles]

The amount of btc held by Saylor is freaking me out. I don't know exactly what's wrong about it, but it can't be good for one person to have that much control.

You don't say...

[Dantheman]

You don't say...

iT's dEcentrAlizeD!

[Bunion 2020]

So this makes you...bearish on crypto?

Fuck Crypto.

Nope, just saying getting the points back on CC purchases could become a whole new game.

U.S. retailers now pay about $160 billion a year in swipe fees, according to the Merchants Payments Coalition, a group that is looking to reduce those fees. That total has increased more than 50% since 2020, says Doug Kantor, who serves on the coalition's executive committee.

Your credit card rewards—from cash back to miles—could be in peril. But only if Congress takes up legislation that would change how credit card companies collect fees from merchants.

A bipartisan group of U.S. senators and House members has proposed the Credit Card Competition Act, first introduced in 2022 and revived earlier this year. The act has had little traction, but now Sens. Richard Durbin (D-Ill.) and Roger Marshall (R-Kan.) have attached the potentially industry-shaking proposal to Congress’ big annual defense authorization bill.

Here’s the issue: Credit card issuers earn billions in fees annually when you buy goods or services. These fees—typically 2% to 3% of the cost of your purchase—are paid for by the merchants themselves.

Though these fees may be passed on to you in the form of higher prices, the merchants agree to pay them to allow you to use your cards at their businesses. The fees, the bill’s authors argue, are primarily collected by two separate processing networks, Mastercard and Visa.

https://www.forbes.com/advisor/credi...d-rewards-did/

[Mustonen]

While anecdotes abound, I’m not aware that card acceptance or usage is actually declining as a percentage of merchants. As a percentage of transactions, card transactions continue to grow while cash and checks decline.

[bennymac]

Investors Lose 98.7% in Cristiano Ronaldo Launched NFT as Soccer Star Faces $1 Billion Lawsuit

https://www.essentiallysports.com/so...e-endorsement/

I wonder how “neat” those investors think NFTs are. Shouldn’t someone tell them that someday the deed to their house might be a NFT?

[skaredshtles]

Investors Lose 98.7% in Cristiano Ronaldo Launched NFT as Soccer Star Faces $1 Billion Lawsuit

...

[Mustonen]

Fuck Crypto.

Nope, just saying getting the points back on CC purchases could become a whole new game.





https://www.forbes.com/advisor/credi...d-rewards-did/

I bet if we kill the credit card rewards by slashing interchange the retailers will pass the savings on to customers.

Also, it’s a good way to blow your local community credit union or bank out of business.

ETA: the merchant lobbies represent Walmart, same as the bank lobbies represent Chase. All this bullshit is put out by one or the other. The common denominator is that consumers lose. Every time.

[Vt-Freeheel]

The amount of btc held by Saylor is freaking me out. I don't know exactly what's wrong about it, but it can't be good for one person to have that much control.

All you need to do is look at Darth musk to see the probable result