coralreef

14 ms·

91.
by coralreef 5y ago
Are we optimizing for a fair playing field? Or a playing field where one can be advantaged? If my authoritarian government bans mining, my energy usage is easy to track down, and I am disadvantaged. If my nation state has an abundance of ch
92.
by coralreef 5y ago
In a Proof of Stake system, money directly, literally translates to power over the network. There is virtually zero risk to mining, and there is zero overhead cost. As such, the centralization of Proof of Stake is inevtiable: coin staked b
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by coralreef 5y ago
Technology bolsters an economy for criminals. The internet created a whole new class of fraudsters, thieves, and extortionists. They existed before the internet, after the internet, before crypto, and will continue to be around after crypto
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by coralreef 5y ago
Its true you may not get to choose your household electricity source. But that doesn't give you free pass to start consuming as many kilowatts as you want. We make choices with what we consume. You don't get to buy clothes made fr
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by coralreef 5y ago
IMO the source of electricity matters. Generally we should aim to reduce carbon emissions, so if your electricity comes from a coal power plant, then there is greater consequence for the usage compared to renewable energy usage.
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by coralreef 5y ago
The government could spend less and tax more, but this is politically and socially unpopular, so unlikely to happen. But its not like its not possible. Some countries have fiscal surpluses. Canada had a surplus in 2018 [1]. I don't see
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by coralreef 5y ago
Yes, the value replacement is there. And yes, tax dollars help "pay" for services. What I mean by "physical transfer" is literally that if you mailed a brick of cash to the federal government, they would just burn it. Ta
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by coralreef 5y ago
No it's not a thesis, it's how modern government (and accounting) works. Back in the day when money was a hard asset that could not be easily created (copper, silver, gold), you paid your coin dues to the regional king, and in tur
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by coralreef 5y ago
Taxes remove money from circulation, helping to control the inflation caused by creating new money.
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by coralreef 5y ago
My father had a pretty average salary, bought a massive house for a reasonable price, and saw his wealth multiply many times over. It's not like that for my generation. With the housing market this is certainly so. I'm one year
101.
by coralreef 5y ago
Yeah, abandon your family, friends, career, community, so you can have the freedom to run a crypto trading bot!
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by coralreef 5y ago
and tax evasion (by not reporting certain sales of houses for crypto, for instance) Not sure I buy this excuse. When land transfers ownership, it still needs legal frameworks grounded in established legal/political systems to protect
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by coralreef 5y ago
> People who have more resources under their control to secure food and shelter in the event of major catastrophe will fair better than those who don't not… some with quick thinking in the event of major catastrophe will fair better
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by coralreef 5y ago
>Even with this, not everyone has the same perspective or the same exposure to the downsides. Not everyone will throw more resources at their problems, some will more than others, some will collect it and squander it more than others, no
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by coralreef 5y ago
>The same market has also accepted: ... As well as accepting a host of other things beyond paper notes redeemable for x. Efficient market hypothesis is based on humans acting rationally with available information. But humans tend to be s
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by coralreef 5y ago
> One must also consider whether it is a medium of exchange at any given point in time, if its used as an unit of account, the variable storage/protection/transportation costs, durability against the elements, fungibility, acce
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by coralreef 5y ago
Solution to the problem of dirty energy is relatively simple. Don't subsidize coal[1][2], and implement a carbon tax. [1] https://www.gem.wiki/Federal_coal_subsidies [2] https://www.eesi.org/papers/v
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by coralreef 5y ago
Does magic numbers mean a decentralized network that is permissionless to participate in, is censorship resistant, virtually unstoppable, and global?
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by coralreef 5y ago
> Money is not the same thing as economic output; it just divides that economic output. The explanation here about "new energy" is quasi intellectual gibberish. Money stores the value of that economic output. We used to use gol
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by coralreef 5y ago
If I was able to create new energy out of nowhere in my bare hands, you would be astounded. Of course this is not possible. Energy must come from somewhere else. When you create new money, you have seemingly "new energy" in your h
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by coralreef 5y ago
The more complexity introduced into a system, the more likely the event of failure. This is true for airplanes, fission reactors, and monetary systems. Humans are the ultimate complexity, and indeed central banking relies on the decision ma
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by coralreef 5y ago
I don't care for Schiff, but central banking and the modern monetary system is fundamentally problematic. Just because we haven't experienced a black-swan event doesn't mean that it's not possible, whether that be a mark
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by coralreef 5y ago
Vitalik has the intelligence to back it up. Waterloo dropout, Thiel fellowship, the guy is the smartest in the space.
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Ask HN: Negotiate Salary to Subcontractor Company
4 points by coralreef 5y ago|1 comments
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by coralreef 5y ago
Sure, but that means any estimate on clean/dirty energy usage is harder to make now.
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by coralreef 5y ago
>Bullshit. When one coal mine in a remote region of China flooded, the Bitcoin hash rate measurably dropped by 30%. Keep in mind this was just one coal mine. Not all of China's production. FYI, China kicked out crypto miners, which
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by coralreef 5y ago
The market for gold's practical use pales in comparison to the market for its monetary use. Remember that central banks still hoard billions of dollars of gold bars in safes guarded by soldiers. Gold is a $12 trillion dollar market cap
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by coralreef 5y ago
- Bitcoin has a better stock to flow ratio - Bitcoin is cheaper to custodially secure than gold (no warehouses, security) - Bitcoin is nearly impossible to counterfeit - Bitcoin is cheaper to transfer (try flying gold to another country) -
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by coralreef 5y ago
Here's a coinbase user graph, looks like nice growth to me. https://backlinko.com/coinbase-users#coinbase-users One use case is digital gold. Gold is a ~$12tr market. While gold is a nice conductor and looks good in je
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by coralreef 5y ago
Yeah, people keep saying that. And year after year it sets higher lows, and new highs. Transactions go up, users go up, dollar value goes up. New technology like lightning gets developed, it gets cheaper/faster ( https://bitc

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