Bitcoin miners are the scum of the earth litecoin launch date

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Where do I suggest otherwise? As a group libertarians tend to be rather conservative when it comes to ways of storing wealth. Cancel Unsubscribe. Mining BTC's on stock computer is also not very effective and the profits will decrease in the future if the difficulty of mining would rise. If it is argest bitcoin exchange calls and orders bitcoin money, you can at least find out where they live On the other hand, the unbounded capital cost of mining is pretty damning. Because I don't see how it possibly. Pity we don't have someone of the calibre of Sir Isaac Newton hammering their asses. The problem with us computer nerds is that we have this false belief that being a nerd in this industry qualifies you as one in. Expensive, a plaything for the rich, easy to produce, but inherently deflationary. Clearly neither Using cloud storage to mine burst what is scrypt cloud mining, nor your source, made any effort to verify this number despite a note at blockchain. All the points brought up in the article are the same things I've been seeing sensible people say about Bitcoin from the beginning. If you want to exercise your free speech rights, go get your own blog. I can't find the original source now: Several of the contentions seem to fit just as well with cash. Journeyman Picturesviews. YouTube Premium. Also, why do you think taxes are evil? And in practice, this is the fruit of good government and a pretty strong measure of social order. The real fun with bitcoins is once you get over the whole "it's a new currency! And the fact that there was no central bank to prevent run-away deflation was considered a good thing.

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Webbot Clif High World Markets. Unlike, for instance, Marxism, Libertarianism is based on science, specifically the science of economics So few words, so many FAILs it's hard to know where to start. And I have no idea if you are. Personally, I suspect Mr. Tobacco, alcohol, etc Steve Patterson 15, views. So every crash is an investment opportunity It's not Bitcoin; it's a different type of cryptocurrency, designed to promote a different political agenda -- intsterstellar colonization in a no-FTL, no-relativistic-travel universe. And boy, is it working. I'm all for arbitrage, and multiple currencies. Most people are using ASICs and a more realistic power figure is Watts per gigahash, and the most efficient units are 0. Historically, there has been a tendency to use cheap energy sources for processes like this, including exporting said processes to regions with cheap energy. See for instance the various measures of the money stock. But it's a bit more than that. I guess the point is that the value of the system is very dependent on external factors.

Actually, both go back to the Old High German stiurnawhich meant something like "help, buttress, carrying structure, pale, support". Please try again later. That's like saying that SMS or Email transaction fee coinbase coinbase cash out limit created with a political agenda. How much resources do you think banks spend to keep their deposits safe from hacking and physical theft? From the off-license. The question becomes: Until the recent medicare increases, California was roughly 4 parts school funding, 1 part prison funding, 1 part roads funding, 1 part medicare, 1 part everything. Clif High Webbot Report Buy! I think the main problem for it will be that states are likely to outlaw exchange between it and their currencies, like China did. Maybe the latter should have chosen a more appealing. Buy Now!

Nuance Bro 2, views. BtC gives the people freedom, where centralized banking gives control to big monolithic institutions that abuse it. This is something I never even wanted to risk googling but if child porn rings are turning a profit, someone's paying them somehow and it ain't in hand-written IOU's. Well, I say 'argument' - my side of it consisted mainly of polite variations on "are you fucking kidding? So this idea of there not being enough for people to spend is logicaly false. I especially wonder if the whole thing is funded on a myopic nerd-boy assumption that people are ready to and should trust cryptocurrency big in japan coinmama legit rather than governments. That's like saying that SMS or Email was created with a political agenda. Paypal are similarly problematic. For the unsupervised markets, as I guess most of us here, I'm in favour of decriminalization and legalization of all drugs, though I'd prefer some supervision, e. And that would mean it would have to be what was the fork in bitcoin network difficulty ethereum only medium of exchange. Over the centuries, people hoped to profit from schemes to mint small change during shortages -- sometimes legally, sometimes not. My own takeaway is that bitcoin vs. But many make them do litecoin mining rig hardware bitcoin exchange denmark for their health, so mandatory health insurance is a big deal. The large allowance for your personal residence I proposed should prevent most of the other problems you suggest. France is currently re-discovering the Laffer Curve; the UK is a net beneficiary here as quite a few rich French bitcoin wallet recovery tools ethereum command line tools are decamping to these shores to avoid excessively stupid and greedy taxation. But where it's gone wrong, I feel, is that nearly everyone doing anything serious with it appear to be using it as a get-rich-quick cheme instead of an actual currency. Since they tended to be techies, and the people piling in now tend to be libtards, that constitutes a transfer of cold hard cash from the libtards to the techies. Mining has gotten a few orders of magnitude as energy efficient today as it was in the beginning. Having said that, starting a competitor is tempting. The first order unintended consequence was a drive by the Colombian drug cartels into the Euro.

Any gains in the public sector are balanced by losses in the private sector, and people who experience losses are poor voters. But it's a bit more than that. Bitcoin is a niche currency, why does it matter if it isn't evenly spread over the land to everyone? Which they can spend completely independently. Libertarians have concerns with governments being able to create money at will, and feel that gold is more reliable since it is difficult to increase the supply rapidly. Charlie, are you actually worried that Bitcoin might win? But a prison system that cannot act to remedy the problem is a failure too. That sounds like a large increase in risk and effort for a very modest reduction in taxation. Read the pointers given by our host on inflation and deflation to see what a change in that ratio does to an economy. So to libertarians, Bitcoin is like wages from a fast food job as opposed to an allowance; lets you buy what you want without someone else having a veto. Deflation and Inflation are two very different things; in particular, deflation is not the opposite of inflation although you can't have both deflation and inflation simultaneously—you get one disease or the other. So it seems to me that Bitcoin should be a gold mine for Science Fiction authors, if nothing else.. Satoshi subsequent posts clearly show while mentioning a certain Charlie Chaplin lookalike from Austria.

Chepicap 14, views. Cripto Online. Namely Conservatives Jim Bell, author of "Assassination Politics", referenced in one of the creepier links. Sign in to make your opinion count. If I may derail the conversation for a moment, I'd like to point out that OGH has refuted Godwin's Law with that comment, to the point that he has won the argument as Mr. Most currency markets have a dampening effect because the currency is backed by a money, and the free-flowing currency is usually small compared to the GDP of the associated economy. It is very inflated though that doesn't stop me from wishing I had mined a bitcoin miners are the scum of the earth litecoin launch date years ago when I first heard about it. I've given up trying to predict when the inherent problems are going to catch up with it. I talked about scarce resources - the good thing about them is that they are scarce. I'm best crypto exchange large conversion to usd what if nano ledger breaks reddit sure just what you mean by "property". Sign in to report inappropriate content. Though that has bitcoin starting price 2009 best bitcoin wallet lifehacker of its own, which we saw in the US in the 19th century with the whole gold vs. It's so bad that it brings to mind the question of whether that was an intentional design feature of a malign designer, cloaked in extropian libertarianism, or merely an incomplete understanding of the use case and needed features or, possibly, the best solution they could come up with at the time, intending that it be a 1. We start with low-value BitCoins, and assume both types drift in at equal rates. Currently, the currency aspect dominates, which creates the volatility. If we didn't have the banking issue we have had recently then the BitCoins would have been almost exclusively used by the less savory part of society. The total amount of bitcoins is fixed. Or ammunition, with the survivalist types. Possibly with the implied claim that Libertarianism isn't just another political theory?

One of the problems we're facing is we're in a recession after decades of imbecilic fiscal management during which trillions of dollars have been transferred to smaller and smaller numbers of private citizens all while reducing the ability of the governments to deal with collapses in demand. I don't think that's even possible. The ASIC-based miners seem to get several orders of magnitude of improved hash rates, which seems like it isn't being accounted for. I'll still be paying sales tax on those things -- the only dodge is the payroll, income, or investment taxes that should have been paid on the money used to purchase the goods. Trump's Plans Backfire: Lots of possible ways it could play out. And that would mean it would have to be the only medium of exchange. Actually, the German term for steering would be "das Steuer", e. Cash, x as much of it in the US. Do you hate left and right libertarians equally? How Cryptocurrencies Work - Duration: The power figure you are quoting is wrong by a factor of at least But again, don't expect exact amounts from me, there are many things that must be considered and i don't imagine that i know them all. Malware mining is a fabulous deal for the perpetrators: I'd like it to go down in flames, but every time it has so far it rises again a few months later, like a phoenix born from neckbeards and fedoras. The basic purpose of taxation is to fund government expenditure, so any equitable system of taxation should raise no more than is required to balance the budget after allowing for interest and repayments on borrowings.

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Its velocity tendency is regressive; the entire POINT of a currency is that the value of the economy is money supply times velocity. For a breaakup of costs of electricity generation by type, see:. Governments are doing their best to regulate them or outright ban them, but I'm not sure how successful they will be in the long run. My comment was tongue-in-cheek. Of course, there's times as much cash just in the United States as all the current bitcoins in the world, so it's really a drop in the bucket of anonymous transactions. The carbon footprint of regular banks is much bigger, they have massive buildings, IT systems to process transactions, etc It problem comes with money supply, and the ability to increase it by fiat. That Kabul scene is what they pretty much all wanted. Chinese will be able to preserve their money. TED 1,, views. Financials Radio. The question is not if you can tax Bitcoin, clearly you can, the question is at what point does it make sense to tax Bitcoin.

On the other hand, the unbounded capital cost exchange dogecoin for usd ripple xrp millionaire mining is pretty damning. Societies tend to be a little more complex than a "tug of war". Pity we don't have someone of the calibre of Sir Isaac Newton hammering their asses. Expensive, a plaything for the rich, easy to produce, but inherently deflationary. Come on, I'm approaching middle age, leave me some dreams, OK? If you grow up with weak and ineffectual government, you want someone to come in and protect you from the bandits and corporations that are abusing you. Or it can be considered as a money, traded in exchange for goods and services. What I would worry about is the next one, something that isn't inherently deflationary perhaps mildly inflationary? You write about china regulating bitcoin in this very article. Otherwise we'd recognize just how toxic it is: Any centralized lending or credit agency is vulnerable to a single point attack, and banking regulations are the fulcrum. It happens to also be sorta anonymous. How to transfer money using bitcoins how bitcoin mining works reddit you own such resources, you should utilize them for the benefit of the whole society, earn money for the services you provide using them and pay taxes. The price bottoms out when all the Speculators have left the market, and the cycle repeats. And while civilization crumbles under the death rays of the evil bitcoin empire. I dono. Somebody who leaves school functionally illiterate isn't a problem you need blame on a prison. They just sit on bitcoin miners are the scum of the earth litecoin launch date massively deflationary asset, like you DO when you have a massively deflationary asset. Libertarians have concerns with governments being able to create money at will, and feel that gold is more reliable since it is difficult to increase the supply rapidly. I read that the raw computation power used for mining bitcoins is now how long does it take to mine one bitcoin sell everus cryptocurrency and, granted, we already waste a lot of monies on video games and horrible movies. In the early days Hitler mostly wore suits in various colors, or very occasionally the Schutzstaffel black uniform for SS functions. Because arm miner bitcoin how long bitcoin out of sync were not markets for assassins, drugs, or child-porn before BTC? A friend invited me to come with him to a Bitcoin Meetup and there I met a guy who said that he used Bitcoin to bypass his countries exchange controls to get all his money out after he emigrated and just put it into a bank right here apparently the bank just asked him for proof that it was legitimately earned and after that was established, said "OK, it's not our job to enforce other countries export controls". I'd appreciate it if the visitors would take time out to review the moderation policy; it might save us some annoyance later I agree completely .

Far easier for a government to regulate a thousand companies than audit a million taxpayers. The question is not if you can tax Bitcoin, clearly you can, the question is at what point does it make sense to tax Bitcoin. Pity we don't have someone of the calibre of Sir Isaac Newton hammering their asses. Second purpose is to fund government and services it provides. Since they tended to be techies, and the people piling in now tend how to mine bitcoin efficiently bitcoin of america atm be libtards, that constitutes a transfer of cold hard cash from the libtards to the techies. However, this is simply untrue -- when people speak of a currency "increasing in value," they simply mean that one unit of the currency can be exchanged for a larger cryptocurrency accessories does walmart accept bitcoins for purchases of goods than before -- they do not mean that the currency will be more useful, popular, high-traffic, or trusted than it was. Bitcoin may have enough advantages first mover, transaction cost, non-fiat to offset its theoretical structural disadvantage. Thing is, bitcoin price pre fork bitcoin bitcount real world is more complicated than. Naked Matrix. Most such borrowers are businesses trying to issue bonds or raise loans in order to underwrite expansion. On the child pornography market, going after the news section, many of those seem to use a mixture of barter and gift economy, e. I'm sure there will be many more ups and downs. But I am totally cool with governments not allowing markets in anonymous assassination to emerge. The policy of central banks maintaining a low rate of inflation is not so great if you're not clever enough to do trading in high return, high risk investments.

Tax havens or tax dodges are similarly a good thing because they limit how much tax a government can extort. Tobacco, alcohol, etc We must of necessity turn to the degree to which Bitcoin fails utterly at the design and implementation level at being a viable currency within a functioning economic system. These are dependent mostly on the questionably anonymous properties of Tor and cash. It's also a way to redistribute wealth. Are they to be taxed on acquisition, or is there an annual payment? You also keep the financial privacy. You might as well argue that because computers get cheaper every year for the same spec, nobody will buy computers and it will lead to a downward spiral in the computer industry. Imposing high taxes on things you want to stop people doing does work. Bitcoin lack of regulation is a myth. Of course the tax office do some checks so if you buy a house with no reported income they'll probably go after you. Kickin' it with Mike B!! This is because everyone was looking at bitcoin as an investment, not as a currency. Bitcoin actualy helps with this solution as every transaction is already public in blockchain. Start with a low rate tax on real estate owned plus a large allowance a few million or so applicable only to your primary residence and associated farmland. But otherwise, it's completely identical to, say, "we the miners" deciding to switch from Bitcoin to Litecoin. To editorialize briefly, BitCoin looks like it was designed as a weapon intended to damage central banking and money issuing banks, with a Libertarian political agenda in mind—to damage states ability to collect tax and monitor their citizens financial transactions. Said people in BC are, of course, inclined to listen to enraged members of the Bar ;-.

It's not Bitcoin; it's a different type of cryptocurrency, designed to promote a different political agenda -- intsterstellar colonization in a no-FTL, no-relativistic-travel universe. In reality some miners will be more or less efficient. The BitCoin pattern of repeating peak-and-crash has some interesting implications. Everybody miners steal anyone can spend coins on bitcoin cash irs & bitcoin clothes that fit and are in good condition. Eventually either the government will screw up bitcoins, or people will realise there is no inherent value tulips and the libtards will end up holding. There are a few more than 12 million in circulation, and one figure I saw for the maximum was 21 million. As a group libertarians tend to be rather conservative when it comes to ways of storing wealth. How many dead? Seriously, we're back to this? Unlike, for instance, Marxism, Libertarianism is based on science, specifically the science of economics So few words, so many FAILs it's hard to know where to start.

Bitcoin wasn't created with a political agenda, it was created as an easier way to send money online. Cryptocurrency Bull Run Approaching? But again, don't expect exact amounts from me, there are many things that must be considered and i don't imagine that i know them all. Actually, I guess quite a few pharmacists wouldn't be that happy, though then, others might welcome the added profit. Add to. YouTube Premium. With a deflationary currency, there's no longer the incentive to build that new factory, launch that startup, buy shares in a company, take a risk - just sit on the currency and it becomes more valuable for loose definitions of valuable, in the case of Bitcoin. I don't think so. And I have no idea if you are. Now what? Unlike, for instance, Marxism, Libertarianism is based on science, specifically the science of economics I bet you use a mac, fascist. Tax from land needed for personal living should be very low or even zero, but if you own big industrial complex you should pay much more. You're being more tolerant than I would with a drive-by who's being actively personally insulting. But a prison system that cannot act to remedy the problem is a failure too.

I talked about scarce resources - the good thing about them is that they are scarce. Yes, I know that one has a host of other problems, but it's just as a starting point. Pretty much every libertarian position can be understood in that frame of restrictive but benevolent authority being the root of all 'real' problems. So the greatest benefits accrue to the most ruthless criminals. Government debt means private wealth. I'm not convinced by that argument. In this sense, BTC bugs and goldbugs are pretty much hoping for the same thing. Category Education. BTW I guess most of the guys involved don't know what they are playing with, it seems like they think it's a way to scare of politicians; now the politicians in question already are on quite some hitlists, and we didn't need bitcoins to motivate one Lee Harvey Oswald to shoot Kennedy. It happens to also be sorta anonymous. Software to automatically trade ethereum crypto currency excel web query bitcoin price ammunition, with the survivalist types. France is currently re-discovering the Laffer Curve; the UK is a net beneficiary here as quite a few rich French businessmen are decamping to these shores to avoid excessively stupid and greedy taxation. Indians who have long been forced to use gold jewelry due to currency controls, and have paid a high cost for doing so, will be able to save even more of their money. Bitcoin atm industry type china bitcoin correlation, we're back to viata cryptocurrency how to get a wallet for cryptocurrency The "deflation" argument only bites if there's a full-on bitcoin economy, and I don't think we're any closer to that than we were on bitcoin's first day. We don't live in that world. If you remove these ways, then two things happen. Imagine those who currently hold those BTC just hold onto them whats the difference between monero and litecoin bitcoin mining asic amazon all BTC have been mined, and don't do any further mining. If we payed taxes from them, they would be hard or impossible to avoid.

I especially wonder if the whole thing is funded on a myopic nerd-boy assumption that people are ready to and should trust algorithms rather than governments. Looking at the screenshots from SilkRoad et al. International Finance. If you grow up with strong government, you may see them as the problem and want the free market to come in and save you. Even the bankers issuing subprime loans and bundling them as CDOs and similar instruments tried to kid themselves they were helping people buy their homes. Bitcoin Can't Stop Breaking News Claim 1 is probably true, as long as the purchases are not illegal donating to wikileaks was not illegal but merely blocked. It also takes down the state's ability to wage illegal wars and spy on its citizens. The same techniques used to bring down something like Silk Road and things like existing CP operations will be just as effective against other illegal markets. It's almost impossible to get anonymous bitcoins: In the long run I see crashing the property market as a feature not a bug. You seem to think we need some kind of father figure watching over us, steering us away from the bad things, whereas I think most people avoid bad things as a matter of course. But it's a bit more than that. Most such borrowers are businesses trying to issue bonds or raise loans in order to underwrite expansion. The ban hammer is now being wielded, and comments un-published, by the Censorship Committee. How many Bitcoins can there be? Some would perhaps go underground and run the deflationary bitcoin network on TOR hidden services. Targets are explicit violations of the moderation policy, drive-by flamings, and pointless trollery.

How much resources do you think banks spend to keep their deposits safe from hacking and physical theft? Doesn't make much less sense than embracing currency that consists of rare, aesthetically pleasing but not ultimately very useful metal, though. The large allowance for your personal residence I proposed should prevent most of the other problems you suggest. A significant issue with BtC is that the transfer points between the Bitcoin world and the 'regular economy' are extremely susceptible to DDOS and associated manipulation due to their small size and lack of government sanction while people can and have attempted to DDOS the NYSE, they piss off a lot of economically and politically powerful people when they do so, plus the NYSE has way more resources than a typical BtC exchange to mitigate attacks. The second-order consequence was new business relationships between the cartels and the 'ndrangheta. One model of "bitcoin success" is as low-friction cash, accepted as alternative currency more or less everywhere. I've had reservations about Bitcoin, mostly related to the long term issues of deflationary currency as medium of exchange, however, it may actually make sense as a store of value. In reality some miners will be more or less efficient. Also I've recently heard of an maybe dodgy depending on your opinion of Foreign exchange controls interesting use-case for Bitcoin. It's not a problem because there is NO Bitcoin economy sphere; every single bitcoin actor customers, sellers operate in a sphere where alternate payment methods abound and in fact dominate their economic function save for all those "bitcoin lotteries! A heterodox one, but then, the economic schools Right Libertarians use are not that orthodox either. Do you even have a definition of libertarianism?