gnerd

11 ms·

61.
by gnerd 13y ago
Because they are sold in different markets. Its just like a fish or vegetable market, supply and demand at the market will set the price. The difference with traditional currency markets is those markets are very deep and competitive so the
62.
by gnerd 13y ago
> 1 BTC is worth 1/20000000 th of the entire BTC economy. There are only about 12 million BTC. The limit of just under 21 million will be hit in 2140.
63.
by gnerd 13y ago
Well for a reserve currency, deflation is positive as a hedge for inflation. China have bought more gold than anyone else in the world for that reason, to mitigate holding foreign reserve currency (which they limited just last month) or deb
64.
by gnerd 13y ago
If BTC is to become a reserve currency then it seems to me it would replace/compliment SDR's and precious metals as an international reserve currency and not a national one. In that hypothetical situation BTC solves the Triffin Di
65.
by gnerd 13y ago
Right but this demand is coming from China (for the last 3 hours) and the other markets are just closing the gap as they catch up (some nice arbitrage opportunities if you have a CNY account). If the trade spikes were on MtGox for USD I wou
66.
by gnerd 13y ago
There will be just under 21 million in 2140, but you have to remember many BTC private keys have been destroyed over the last few years so those can never be spent (unless they used a deterministic wallet, in which case they will probably b
67.
by gnerd 13y ago
Also worth noting that the Vetting and Barring Scheme was established in 2002 and the Identity Card Act was from 2006 whereas the SNP only took office for the first time in 2007.
68.
by gnerd 13y ago
> I am aware of the usage of like in the simile context. Thank you for your concern however. First off, apologies if you took that as an insult, it wasn't meant that way, I just didn't want my words to be twisted and lose the o
69.
by gnerd 13y ago
I'm not sure I follow your logic here. There is nothing inherently illegal about creating BitCoin but there is something very illegal about facilitating drug trafficking. If they were the same person, wouldn't you practise good OP
70.
by gnerd 13y ago
The first BitCoins were mined as part of the genesis block in January of 2009 but can not be spent due to a quirk in the system.[1] From then on more BTC were mined (at a rate of 50 for every block solved, now 25 for every block as it halve
71.
by gnerd 13y ago
Nobody deserves a billion dollars and if someone was to become a billionaire I feel it is more likely the people holding BitCoin would be more concerned with their own value appreciation than all cooperating to devalue a single entities v
72.
by gnerd 13y ago
In English a simile is a comparison using the words 'like' or 'as'. So using that as a basis it should be fairly obvious that I was definitely not saying this is an IPO but rather comparing getting in early with BitCoin
73.
by gnerd 13y ago
That hard fork was rolled out over a period of two months, with warning (whilst older clients were sent messages to upgrade) and smaller splits are part of the protocol and happen quite regularly. as expected (like when two miners hit the s
74.
by gnerd 13y ago
Yeah, like every other economic system. That's life, that's nature. If you dumped 10% of your savings into BitCoin in 2010, you took a great risk and this is the reward. Had you been the angel investor dumping $100000 into Google
75.
by gnerd 13y ago
> a.) the lack of even distribution of early wealth Like an IPO? [1] > b.) the possibility that a great percentage of Bitcoin are currently held by bad actors (criminals, anarchists, use your imagination). I know you are probably usin
76.
by gnerd 13y ago
> The assumption is that bitcoins must be sold immediately to cover operating expenses. If the shopkeeper's back-end expenses were transacted in bitcoins as well, then the exchange rate would be irrelevant. Larger adoption of Bitcoi
77.
by gnerd 13y ago
There have been more than one block chain splits. I think you are talking about the hard fork that happened in May, which was planned for and not an unexpected accident. If you conduct a transaction and it is included in the shorter block c
78.
by gnerd 13y ago
What I conclude from this is you don't know what a proper noun is in English and you are offended at conclusions drawn from my experience in Sweden, which are of course anecdotal and therefor not applicable to everyone in Sweden, why w
79.
by gnerd 13y ago
This was around 2.5 years ago and even then it was impractical as people were mining with GPUs which pushed the difficulty up too much. Now we have had ASIC devices for most of this year and the difficulty has gone up an insane amount, so t
80.
by gnerd 13y ago
Yes, puritanical is an adjective but the Puritan movement is a proper noun as it is the name of a movement. That is the point I was making. In English the phrase 'proper noun' does not mean I was implying the word puritanical was
81.
by gnerd 13y ago
As the other poster mentioned, I was using puritanical to mean strict religious ideas and not the Puritan movement. You will notice I capitalised Sweden but not the word puritanical as it was not a proper noun.
82.
by gnerd 13y ago
Very much the opposite. In Sweden, even alcohol is a controlled substance and you may recall pressure being put on NL for allowing foreign people to consume cannabis in coffee shops (mainly in Amsterdam), well that pressure was from Sweden
83.
by gnerd 13y ago
Also important to note is in Sweden there is no drug scheduling system like there would be in the Anglo countries. If one were to sell or move a lot of cannabis, it would be the same as selling or moving a lot or heroin or crystal meth. For
84.
by gnerd 13y ago
I said filing the smooth surface of the nails, not filing all the way through the nail. It is the same as what woman do when they stick fake nails over their real nails... they simply rough up the surface for adhesive purposes, not file the
85.
by gnerd 13y ago
It is on the head, but it isn't a hole. I imagined it to be more like filing the smooth surface of one of your nails at there are no nerve endings located in the exoskeleton (which is why insects shed their chitin exoskeletons until ma
86.
by gnerd 13y ago
Paranoid overkill really. Suppose you didn't have access to a locked lead box and stored your extremely large sum in an envelope, you would feel silly in 10 years when you realized someone was able to steam the envelope and use the rai
87.
by gnerd 13y ago
I am torn about medical experiments on animals but I think the distinction needs to be made between what happens in a lab (with ethical frameworks) and what happens in civilian life for entertainment.
88.
by gnerd 13y ago
You can find the information on the product website[1] and the instructions[2]. Effectively it just replaces the antennae with electrodes that provide stimulation at 55Hz. So it can just make the cockroach go left or right (assuming it is m
89.
by gnerd 13y ago
According to the website [1], it is fairly debatable that they "feel pain" and if they do, they are anaesthetised. > Criticism: This enables and encourages kids to harm animals > The cockroach is anesthetized during the surg
90.
by gnerd 13y ago
> Boring a hole in the head, and then another hole in the chest According to the article and the instructions[1] there is only one hole and it is in the thorax (through the exoskeleton), which is the middle section and not the head at al

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