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  1. #3351
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    Quote Originally Posted by puregravity View Post
    TODAY on the BITCOIN Network

    Number of U.S. households powered for 1 day
    by the electricity consumed for a single transaction
    19.41

    Carbon footprint per transaction (kg of CO2)
    272.74

    VISA processes 380,132 transactions for the same energy consumption as 1 Bitcoin transaction.

    Attachment 288829
    This alone is a good reason not to support it.

  2. #3352
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    Quote Originally Posted by Bobby Stainless View Post
    Sure fire investment opportunity. Turn 750k into 2m in 20 years and look cool doing it. YOU CANT LOSE!!!!
    Not a *terrible* return on investment, but not great, given the amount you need to invest. Although I suspect that maintenance is going to eat up a decent portion of that % return.

  3. #3353
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    Quote Originally Posted by skaredshtles View Post
    Not a *terrible* return on investment, but not great, given the amount you need to invest. Although I suspect that maintenance is going to eat up a decent portion of that % return.
    True, but the return in intangibles is extremely high if you like cars and driving.

    sent from Utah.
    sigless.

  4. #3354
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    Quote Originally Posted by basinbeater View Post
    True, but the return in intangibles is extremely high if you like cars and driving.
    lol - true. And that can't be measured. So perhaps a win even if you lose money?

  5. #3355
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    the 800lb gorilla

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  6. #3356
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    hooooooodl!

  7. #3357
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    The gorilla likes to talk down bitcoin on CNBC. Would certainly be cooler if the admin was btc-friendly, but if it's anything like their approach to the "China deal" it'll be hot air with a side of repetition.

    Quote Originally Posted by garyfromterrace View Post
    This alone is a good reason not to support it.
    fwiw, I've seen this a few times lately

    BTC consumes 0.044% of the world's energy. An underappreciated aspect of it is how btc mining is only viable where energy is cheap & plentiful. So renewables & consuming what would otherwise be burned off in the oil patch. Which is a very different reality from the doomsday predictions that btc energy demand is squeezing out traditional sources of demand or disrupting the energy markets in general.

    edit to add analysis from the IEA. What do they know about energy, right?

    Over the coming years, other applications of blockchain – including those within the energy sector – are likely to garner more attention. As the scope and scale of blockchain applications increases, these trends combined are likely to materially reduce the future energy footprint of its technology.

    Sensational predictions about bitcoin consuming the entire world’s electricity – and, by itself, leading our world to beyond 2°C – would appear just that…sensational. That said, this is a very dynamic area that certainly requires careful monitoring and rigorous analysis – particularly, a careful monitoring of local hotspots.
    Last edited by Bromontane; 07-24-2019 at 10:14 AM.

  8. #3358
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    Where "we" is the Bank of England & CBDC is central bank digital currency

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  9. #3359
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    With interest rates on everyone's minds...this should go over well.

    #buybitcoin

    UBS To Start Charging Rich Clients With Negative 0.75% Interest Rate



    https://www.zerohedge.com/news/2019-...-interest-rate

    Sent from my Pixel 3 XL using TGR Forums mobile app

  10. #3360
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    A few things on NIRP (negative interest rate policy):
    - The actual effect on savings is minimal if conducted for a short period (though the need for its introduction 10 years into easy money suggests that ZIRP/NIRP may be much less effective than initially imagined by CBs - and thus, likelihood of it being short-lived is small)
    - The main impact is psychological over the short run and behavioral over the long run (focus shifts towards asset protection, reevaluation of value proposition offered by legacy currencies). LT behavioral shift may include a pivot towards more SOV-oriented strategies as global economy is revealed to have a bit of overcapacity which hangs over forward return expectations.

    And in sum NIRP is decidedly bullish bitcoin though not in the way fans might suggest. Think of it as a subtle push from central banks on businesses & individuals to start reconsidering asset management strategy. A tailwind as opposed to a catalyst.

  11. #3361
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    BTC starting the week off with a bang.

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  12. #3362
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    It seems to be responding to political risk in SE Asia. No idea if it's a cause or something more indirect but it's worth paying attention to.

    This book is a cliff notes equivalent for anyone looking to git learnin:
    https://www.amazon.com/Inventing-Bit.../dp/B07MWXRWNB

  13. #3363
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    Quote Originally Posted by Bromontane View Post
    The gorilla likes to talk down bitcoin on CNBC. Would certainly be cooler if the admin was btc-friendly, but if it's anything like their approach to the "China deal" it'll be hot air with a side of repetition.



    fwiw, I've seen this a few times lately

    [URL="https://twitter.com/woonomic/status/1154025379050344448"]BTC consumes
    Well, IMHO it ain't worth shit. Bitcoin "mining" (and I use that term loosely) does nothing but draw power while manufacturing nothing. So many greenfolk concerned with fossil fuel consumption but not this bullshit. Buy an electric vehicle and draw coal power from the grid.

    Fucking idiocy. Fuck Bitcoin. SFYL

  14. #3364
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    Quote Originally Posted by garyfromterrace View Post
    Well, IMHO it ain't worth shit. Bitcoin "mining" (and I use that term loosely) does nothing but draw power while manufacturing nothing. So many greenfolk concerned with fossil fuel consumption but not this bullshit. Buy an electric vehicle and draw coal power from the grid.

    Fucking idiocy. Fuck Bitcoin. SFYL
    The US military, which by the way is the world's largest polluter, is the primary thing securing the dollar as the world reserve currency. It does nothing except kill and opress brown people while manufacturing nothing.

    Every single Bitcoin, and Satoshi, has its entire history recorded on a publicly available ledger. The US military can't account for literally trillions of dollars it's spent.

    Yeah. I'll go with Bitcoin.

    Sent from my Pixel 3 XL using TGR Forums mobile app

  15. #3365
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    Gary with the misdirected anger.

  16. #3366
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    Quote Originally Posted by Bromontane View Post
    the 800lb gorilla

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    i've done some stonework, that bloc of rock looks heavier than 800lbs.

  17. #3367
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    FedNow announcement today...

    https://www.federalreserve.gov/newse...r20190805a.htm

    FEDERAL RESERVE SYSTEM
    Docket No. OP – 1670
    Federal Reserve Actions to Support Interbank Settlement of Faster Payments

    AGENCY: Board of Governors of the Federal Reserve System

    ACTION: Notice and request for comment.

    SUMMARY: The Board of Governors of the Federal Reserve System (Board) has determined that the Federal Reserve Banks (Reserve Banks) should develop a new interbank 24x7x365 realtime gross settlement service with integrated clearing functionality to support faster payments in the United States.

    The new service would support depository institutions’ provision of end-toend faster payment services and would provide infrastructure to promote ubiquitous, safe, and efficient faster payments in the United States. In addition, the Federal Reserve intends to explore expanded hours for the Fedwire® Funds Service and the National Settlement Service, up to 24x7x365, to support a wide range of payment activities, including liquidity management in private-sector real-time gross settlement services for faster payments. Subject to the outcome of additional analysis of relevant operational, risk, and policy considerations, the Board will seek public comment separately on plans to expand hours for the Fedwire Funds Service and the National Settlement Service.

  18. #3368
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    Quote Originally Posted by Bromontane View Post
    Gary with the misdirected anger.
    Nah, that was only my rant voice. I'm just sick of the save the world, no pipelines, hypocritical blabber coming from people who think crypto is grand while it uses vast amounts of power to generate nothing of substance. Kind of like I'm sick of hollywood stars cruising the seas in $500MM yachts burning shit tons of fuel, suggesting Alberta oil is dirty and the taps should be shut off. But I digress...
    “I tell you, we are here on Earth to fart around, and don't let anybody tell you different.”
    ― Kurt Vonnegut, A Man Without a Country

    www.mymountaincoop.ca

    This is OUR mountain - come join us!

  19. #3369
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    Quote Originally Posted by garyfromterrace View Post
    Nah, that was only my rant voice. I'm just sick of the save the world, no pipelines, hypocritical blabber coming from people who think crypto is grand while it uses vast amounts of power to generate nothing of substance. Kind of like I'm sick of hollywood stars cruising the seas in $500MM yachts burning shit tons of fuel, suggesting Alberta oil is dirty and the taps should be shut off. But I digress...
    I, too, am a little sick of the gross incompetence & hypocrisy of Canadians. I mean, Canada could be self-sufficient in terms of energy production & consumption (a net exporter even!) but due to short-sightedness, they can't work together to secure energy independenc. Thereby depending on American markets that severely underprice Candian crude relative to the brent spot price. What group of idiots blocks a B.C. pipeline while the economic viability of the country is more or less dependent on securing a Pacific port for Canadian crude? The mountains are too precious for a pipeline, therefore we'll forever be a vassal state to the US, hooked not only on US energy outputs but also committed to flooding American markets with crude discounted by 60%. All because we're too obsessed with placating extreme environmental lobbies.

    What this has to do with crypto, however, is anyone's guess. Maybe Gary can explain.

  20. #3370
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    Name:  Capture.JPG
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    edit to add something constructive:

    Last edited by Bromontane; 08-09-2019 at 04:23 PM.

  21. #3371
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  22. #3372
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    Another podcast for those with appetite. Fwiw I am mashing the green button almost every day lately. Gobble gobble.

    https://open.spotify.com/episode/3Ws...SQWNE9Ooclcb9w

    topics:
    - Overall economic environment
    - How bitcoin may or may not react to various themes in the market right now
    - Interplay between central bank intervention & market functioning

  23. #3373
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    Quote Originally Posted by stalefish3169 View Post
    The US military, which by the way is the world's largest polluter, is the primary thing securing the dollar as the world reserve currency. It does nothing except kill and opress brown people while manufacturing nothing.

    Every single Bitcoin, and Satoshi, has its entire history recorded on a publicly available ledger. The US military can't account for literally trillions of dollars it's spent.

    Yeah. I'll go with Bitcoin.

    Sent from my Pixel 3 XL using TGR Forums mobile app
    you are crazy as a loon. barking mad dog crazy

    the green back is the reserve currency because of demand you simpleton

  24. #3374
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    Quote Originally Posted by DBdude View Post
    you are crazy as a loon. barking mad dog crazy

    the green back is the reserve currency because of demand you simpleton
    Something to keep in mind... the demand for USD is predicated on a belief in economic stability. There're a lot of factors that protect the US and USD from economic volatility - think oceans & codependent neighbors in Mexico & Canada - but the political and financial strategies pursued by the current admin are doing everything they can to undermine that geographic buffer. I don't think it's probable in the near term, but a large rise of US inflation paired with instability in the eurozone could shake that belief and cause some extremely large capital migration. What's that call option worth?

  25. #3375
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    Since I'm on a spam roll (<--- pun)

    https://www.forbes.com/sites/matthou.../#14ea900c47a5

    Crypto As A New Internet Protocol

    The right way to think of bitcoin, crypto, and public blockchains is as the next step in this evolution. Just instead of sending files or email or voice or credit card data, bitcoin and crypto let us send money.

    Of course, there have been online banks and payment services for decades. But they’ve always been hybrids or bridges: A bank like Wells Fargo or a service provider like PayPal might put up a digital veneer, but it would actually extract each transaction and process it in the traditional, physical world.

    As a consumer, you can feel this clunky digital-physical hand-off if you stop to reflect for a minute:

    Why, if I pay my internet bill from my online bank account, does it take five days before that payment hits my account?
    Why do credit card companies–and services like PayPal–charge merchants 3% on every purchase I make?
    Why, in an age of free and instant video chat, does it cost me 8% and three days to send money to Mexico?
    The reason is that we haven’t yet had the proper “protocol” in place to do these things online and human-free. At least, that is, until the publication of the Bitcoin Protocol white paper in 2009.

    How Bitcoin And Crypto Changes Everything

    The Bitcoin Protocol’s breakthrough–the reason “it changes everything”–is that it lets you send money over the internet natively, without a bank or a service provider in the middle.

    And that’s a big deal.

    For starters, it lets us do things we already do today faster/better/cheaper. If you want to wire $10 million to someone in another country today, for instance, it takes three-to-five days, they can deny your wire for any reason or create limits, and the fees are significant. With bitcoin, it takes about 10 minutes, it’s open 24/7, and is essentially free.

    Which one sounds more like the internet we know and love?

    More than this, however, this new protocol lets us do entirely new things that we never dreamed of before.

    We can, for the first time, program money. Instead of using lawyers and investment bankers, you can create any contract or trust or entity or set of financial instructions … for free … with code. That means disrupting services like escrow, debt issuance, derivatives, trust creation, fundraising, and more.

    And the actual coins we’re talking about? Bitcoin, ether and so on?

    They are the fuel that powers these public blockchains. That is, to use this new internet technology–to move money around the world instantly on the Bitcoin blockchain, or to replace your investment bankers with the Ethereum blockchain–you have to own and use bitcoin or ether. Otherwise, you’re back in the hybrid world with the digital/physical hand-off.

    A lot of smart investors are buying up bitcoin and ether today, before everyone else figures out how valuable these new technologies can be.

    What This Means For The Future

    For those of us who have lived the history of the internet, we know that every major new internet protocol has disrupted a major industry:

    SMTP created email and disrupted the Post Office;
    HTTP created the web and disrupted media and advertising;
    SSL created internet commerce and disrupted retail;
    RTSP created streaming and disrupted the entertainment industry.
    By allowing money to travel over the internet, Bitcoin and crypto will disrupt the financial industry just as surely as Amazon disrupted Sears.

    So if you’re over 40 like me, and someone starts talking to you about Elliptic-curve cryptography and SHA-256 and proof-of-work vs. proof-of-stake, it’s ok to let your eyes glaze over. They’re engineering details. You don’t need to understand them, any more than you need to understand jet propulsion to invest in Boeing.

    Just remember that bitcoin and crypto is a software protocol that lets you send money over the internet.

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