1053r

9 ms·

31.
by 1053r 9y ago
>>The value diverted to coin purchases ultimately has a cost in goods and services This is incorrect, or rather it is incorrect that it is different from the Proof of Work example, so it should be discarded from the analysis. Scenario
32.
by 1053r 9y ago
This article is full of problems, but the biggest one is failing to look at the global perspective: While it is true that an individual miner/validator will be indifferent to spending money on electricity and mining equipment vs. purch
33.
by 1053r 9y ago
What? The IRS gave guidance for this in 2014! It's right there under item Q-6 in Notice 2014-21. https://www.irs.gov/pub/irs-drop/n-14-21.pdf "Q-6: Does a taxpayer have gain or loss upon an exchange of v
34.
by 1053r 9y ago
That's the highest AVERAGE ROLLING 30 DAY volatility. For example, on Dec 7, 2013, volatility between the high and the low was 54.6%. [1] However, it was lower for the other days of all 30 day periods that include that day, and average
35.
by 1053r 9y ago
To be fair, while Bitshares was a pretty complete failure, BitUSD, which sits on top of it as a "stablecoin" should be regarded as a complete success. Look at the price chart relative to dollars. [1] It only has brief and small ex
36.
by 1053r 9y ago
This article appears to be written under the assumption that coinbase and other exchanges are counterparties to the price. They are not. They are market makers. It's impossible to have a run on dollar demand for BTC, because the price
37.
by 1053r 9y ago
Your linked argument is poorly formed. It's true that any system which periodically emits value will cause people to work towards achieving that value. However, it's not true that the work in question will necessarily be wasted in
38.
by 1053r 9y ago
Just to be clear, the power requirements for a supercharging station and a gas station are wildly different. The supercharging station might be putting out 75KW per car, and have a dozen cars charging at any particular point. A whole gas st
39.
by 1053r 9y ago
From the "Owner's Manual" [1], it appears that this is just another ETH ERC20 token. All of the "portability" features of it are just based on atomic swaps, which means that the security of this token for most purpo
40.
by 1053r 9y ago
This is the difference between individuals and organizations. At no point did the author attempt to "respect" or "open a dialog" with the KKK as an org. (I'd argue his talks were aimed at individuals.) Instead, he o
41.
by 1053r 9y ago
Please don't spread FUD. In the DAO guidance [1] you reference, the SEC explicitly calls Ethereum a virtual currency, and does not call it a security. "From April 30, 2016 through May 28, 2016, The DAO offered and sold approximate
42.
by 1053r 9y ago
You answered your own question: military applications. The US Armed Forces would pay a LOT of money to move 100+ tons of personnel and materiel anywhere on earth with a flat landing spot in under 60 minutes. You could have tanks on the grou
43.
by 1053r 9y ago
The irony of this article is deep. It is literally making a "First they came for the neo-nazis, and I said nothing" argument. As a coworker of mine just said, "We might be standing on a slope here, but it isn't really sl
44.
by 1053r 10y ago
As an owner of a pure electric car (and a home renter) for more than 5 years, I logged in specifically to respond to this. In 5 years, our Leaf has needed new tires, brake fluid, and... windshield wiper fluid and blades. We didn't need
45.
by 1053r 11y ago
While I can't say with certainty whether mild and predictable deflation is bad for the economy, I don't think that these standard arguments that are used are sufficiently persuasive. 1) It is clear that a deflationary spiral, defi
46.
by 1053r 11y ago
"Manufacturers are secretive, but analysts say a lithium-ion battery pack costs an average of roughly $500 per kilowatt-hour" This can not be true. Tesla will sell a 10kWhr pack for $3500 retail, which is $350. Nissan will sell me
47.
by 1053r 11y ago
I personally volunteer my backyard. My neighbors will probably disagree with me, but all I require is $100 per household-year of high level waste generated. Since nuclear power generates approximately 1 coke can worth of waste per year of p
48.
by 1053r 11y ago
Article contradicts itself and reality to make lithium ion seem more expensive. First it says that batteries typically cost $500 / kWh, so that a battery for a "small electric car can cost around $10,000". (As an aside, Nissa
49.
by 1053r 11y ago
The strongest arguments for and against raising the blocksize are all about decentralization. For the raise: As the number of transactions organically grows, if the blocks fill up, users will be pushed to "off-chain" services such
50.
by 1053r 12y ago
This is just empirically false. High rise construction is massively cheaper than the current property values. Per square foot, suburban Palo Alto is $1409 per square foot at the median [1]. Heck, even the Burj Khalifa, the tallest building
51.
by 1053r 12y ago
This is simple supply and demand. Everyone from liberal economist Paul Krugman [1] to SF board of supervisors member Scott Wiener [2] agrees that California and bay area housing policies are horrible. The only people who actually like these
52.
by 1053r 12y ago
So since this video was made, the price has gone down by approx 35% and the difficulty has gone up by approximately 17%, for a total adjustment in revenue of about 50%, unless they added more machines, or upgraded their current ones. That&#
53.
by 1053r 12y ago
According to TFA, "The next pandemic will erupt, not from the jungle, but from the disease factories of hospitals, refugee camps and cities" The problem, as I see it, is that we have entire swaths of cities in Monrovia, Liberia be
54.
by 1053r 13y ago
Except his main point (of Bitcoin failing to grow exponentially) is just false. Look at the "number of transactions per day excluding popular addresses" (located at https://blockchain.info/charts/n-transactio
55.
by 1053r 13y ago
A few of the very earliest participants in the bitcoin community (who got in before the first big peak at $32) have 100K BTC. As a rough order of magnitude estimate, if Bitcoin gets to be as big a thing as gold, then it will be worth about
56.
by 1053r 13y ago
If this system is actually combat ready any time in the near future, it has very large geopolitical consequences. The Korean peninsula has mutually assured destruction (and thus stability) because the South could destroy the North easily m
57.
by 1053r 13y ago
Given that ASIC mining runs more like 10 W / GigaHash [1] (not 650W as stated on blockchain.info/stats), we are actually looking at more like ~$150K per day, or $56M per year to run. At the moment, the value of bitcoin is $7.2B [2
58.
by 1053r 13y ago
So the biggest problem with this post is that blockchain.info specifically says that they assume 650W per GigaHash. This is just out of date. Modern ASIC miners (which are doing the majority of the mining) are doing more like 10W per GigaH
59.
by 1053r 13y ago
This system suffers from the same political economy problems that democracies have. For example, if I am a corn producer in the USA, I have a strong incentive to spend lots of money lobbying and contributing to political campaigns to ensur
60.
by 1053r 13y ago
I had no idea that they were sitting on such a large stash of bitcoins (from the article, 250K). This leads me to believe that they have been trading on their own exchange to keep the USD / BTC price depressed. For example, if the &qu

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