Results 11,526 to 11,550 of 16214
Thread: Bitcoin....who's gotten into it?
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11-29-2022, 07:36 PM #11526
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11-29-2022, 07:39 PM #11527
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11-29-2022, 07:43 PM #11528
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11-29-2022, 07:44 PM #11529
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11-29-2022, 07:44 PM #11530
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11-29-2022, 08:09 PM #11531
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11-29-2022, 08:26 PM #11532
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11-29-2022, 08:48 PM #11533
Bitcoin miners outbidding utilities[which would sell the power to families in actual homes] for solar project output to "green mine" bitcoin is bullshit of the first order. Without the crazy high of last years bull rush of mining profit I bet some of these "green" projects aren't doing so well today.
Other than oligarchs, who is going to build multi billion dollar Nigerian hydro projects to mine btc?www.apriliaforum.com
"If the road You followed brought you to this,of what use was the road"?
"I have no idea what I am talking about but would be happy to share my biased opinions as fact on the matter. "
Ottime
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11-29-2022, 09:08 PM #11534
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11-29-2022, 10:30 PM #11535
I think we all have made our positions/opinions clear and are spinning our wheels page after page at this point.
BTC will either be successful or it won't.
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11-29-2022, 10:34 PM #11536
What timeframe do you think is appropriate for evaluating that binary?
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11-29-2022, 10:39 PM #11537
what is success? people will make (and lose!) money on it. does it help the greater good? does it solve problems outside of the ones it creates?
I don't have an agenda to push ETH or Doge over BTC, I think they are all useless scams. If I made money on them, I would be happy and hopefully acknowledge the same as I would with winning the lottery or picking the right ponies on an exactobox at the track. neither of those serve the public good either despite the promises of money for education or however they wash gambling.
ETA: i'd be less annoyed if my friends didn't text me to let me know they are thinking about HODLING or whatever IDGAFj'ai des grands instants de lucididididididididi
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11-30-2022, 12:53 AM #11538
I don't think you understand how big the video game industry and crypto are going to be.
https://asia.nikkei.com/Editor-s-Pic...metaverse-fund
Sent from my Pixel 6 Pro using Tapatalk
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11-30-2022, 12:55 AM #11539
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11-30-2022, 12:56 AM #11540
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11-30-2022, 01:35 AM #11541
Incorrect.
There was a 2008 study by the US DOE that said the US used approximately 6.63 Terawatt-hours of electricity every year for "decorative holiday lights." That same study suggested that if we could switch those lights from 5% to 100% LEDs, that would go down to 0.66 Terawatt-hours. In a 2015 study, 57% of US consumers preferred LED Christmas lights, so I'm going to estimate that the current annual US energy usage for Christmas lights is < 3 Terawatt-hours. The US represents about 4.25% of the world population. If we make the ridiculous assumption that the Christmas light energy density / population is the same in the rest of the world as it is in the US, we'd get a worldwide Christmas light energy consumption of 70 Terawatt-hours. That's an upper upper upper bound. The real number is probably a tenth of that.
According to the University of Cambridge, 2022 year-to-date energy consumption for Bitcoin is about 100 Terawatt-hours. Full-year 2021 was 105 Terawatt-hours. Bitcoin consumes more energy than Christmas lights. Probably an order of magnitude more.
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11-30-2022, 01:59 AM #11542
Do you really think that answers the question or explains you railing against a monetary system that allows for the expansion and contraction of the monetary supply? Yes the bailouts weren’t perfect in 08 or 20, but we’d be wayyyy worse off if we had a monetary system that was fixed.
If the Fed didn’t buy mortgage backed securities the housing market would be in taters, next to no building would be occurring and the construction industry would be crushed. Interest rates would be higher than they were in 82. How would bitcoin or crypto do anything to help the housing market?
This is par for the crypto course though, anything bad in the world of trad fi means crypto is the solution, even when crypto has nothing to offer or is worse than traditional finance. Additionally, no matter how negative a crypto development is; price drops, fraud, theft, exchange collapse, institutional/ whale investors selling while retail is buying and trend is downward, it all really means BTC will soon be worth way more than it is today.
Regarding BtC as an alternative, I highly doubt you want it as a stable “alternative” to USD. You invest in it because you think it will make you rich, not because it is going to be stable and maintain purchasing power relative to USD after inflation. If that is the return you thought BTC was going to give, you and 99% of crypto investors would dump it.
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11-30-2022, 06:00 AM #11543
This is by far the dumbest take and evidence that people don't understand video games.
To baseline, videogame costs can be simplified into dev cost (initial and continuing updates for service games), licensing (engines, brands, middleware etc.), Distribution (steam, epic store, app stores) and server infrastructure.
Currently, most games run closed ecosystem economies - you get a knife in counterstrike, it can be sold to other cs players with some restrictions. Others are closed and account locked (Apex legends is mostly this way, as are most games because scams are common).
This means the companies capture 100% of the money people pay in for new items and a percentage of user to user trades. This more than pays for continuing dev and infrastructure.
You're proposing moving to a model where they profit less and have to pay more to dev as they have to interact with some central NFT protocol. This also means people can get all the items they want outside the game and be a net zero revenue for a game. Why would any company pursue this?
Not to mention the clones and one pixel different nfts people will develop with pseudo games to cheat the economy.
We already have models like this, it's called gold farming and it's banned from most games because it makes them impossible to balance and flooded with bots (lost ark is the latest example).
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11-30-2022, 08:03 AM #11544
As some one with no skin in the game, watching strictly for the riveting sociology, I have one question. When FTX is called an exchange that's a misnomer right? They are/were functioning more like a bank than an intermediary?
Also, if you want to take it old school Reminiscences of a Stock Operator is a great easy read. I've got money long term in what ya'll call tradfi but as a reformed bond broker/trader that's seen the manipulated markets from the inside, I'll keep my speculation in meatspace thanks.
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11-30-2022, 10:25 AM #11545
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11-30-2022, 11:02 AM #11546
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11-30-2022, 11:14 AM #11547
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11-30-2022, 12:05 PM #11548Rope->Dope
- Join Date
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Well, crypto can formally count on the EU Central Bank as an adversary. I'm sure no decision makers listen to them.
https://gizmodo.com/european-central...nce-1849835418
Insert "This is good for bitcoin" here
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11-30-2022, 12:30 PM #11549
This jong, Richard Garfield, created an obscure game called Magic: The Gathering or something like that. Maybe you guys have heard of it???
https://techcrunch.com/2022/11/29/ma.../?guccounter=1
[Probably nothing, Blue Benny]
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11-30-2022, 12:33 PM #11550
I'd like to see BTC strengthen over time, be used as an independent system to transfer value. As a speculative investment id like to see it maintain and increase in value.
As a currency? Maybe. All it takes is adoption and an apple like fanboy that becomes ubiquitous. May happen. The 20 something's of today will seek out ever easier, more tech savvy and cool ways to move value around. I'm 48 and only carry cash as a novelty. Don't use or carry a wallet. That shit is over.
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