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Money & Finance

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Everything posted by Money & Finance

  1. "First of all, I think many of the counter arguments are basically whataboutism - what about gold, etc. Bitcoin consumes about 80 Twh, and part of that is from fossil sources. It's not useful to try to deny this, because it's real world out there and the choice of the energy source has real consequences. The world is becoming carbon neutral, so in consequence bitcoin mining will too be carbon neutral at some point. How quickly that happens is also in the hands of bitcoin mining operations. Data centres and data transmission networks consume about 400 Twh (2019) -
  • I like his point about one being available to the entire world while the other to those with a brokerage account. Nailed it!
  • The most common misconception about Ethereum is that it's a massively parallelized, distributed computing network. In actuality, it's a massively redundant, distributed computing network. Since every node performs every computation, the overall speed of the distributed computer is not a function of the amount of computing power in the network but is actually equal to that of the slowest node in the network. That's not very interesting from a computer science perspective.
  • Documentary about the cryptocurrency Bitcoin: Bitcoin: Beyond The Bubble - What is Bitcoin? With the advent of Bitcoin, the world's premier digital currency, for the first time in history money is no longer controlled by banks or governments, but by the people who use it. Bitcoin: Beyond The Bubble (2018) Director: Tim Delmastro Writer: Tim Delmastro Stars: Jeff Berwick, Catherine Austin Fitts, Trace Mayer Genre: Documentary | Short Country: Australia Language: English Release Date: 1 May 2018 (Australia) Storyline: What is Bitcoin? With the ad
  • Quote: “It’s a new model for society we’ll be testing.”—Marc Lore, founder of Jet.com and Walmart e-commerce chief. He’s leaving to focus on building “a city of the future.” Did Henry Ford try this back in the day as well?
  • Google researchers have trained a large language model on 1.6 trillion parameters. GPT-3—one of the largest and most sophisticated language models ever—was trained on 175 billion.
  • Gemini is a US cryptocurrency exchange and custodian founded by Tyler and Cameron Winklevoss, who, thanks to The Social Network, need no introduction. Last week, the startup announced it’s launching a credit card with crypto rewards. The Winklevii also hinted that they are considering a public offering for their exchange.
  • Outcry Over Power Outages, Smog Forces Iran To Act Against Bitcoin Miners
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  • The government has also had to impose short term shutdowns of authorized Bitcoin farms to prevent further strain on their power grid. This follows a major move in January 2020, where the Iranian government began issuing cryptocurrency mining licenses to operators.
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    In Iran you don't get a hold of
  • Money is simply a tool that humans use to move value across space and time. Fiat currencies were clearly designed to be spent. Wanting to save the fruits of your labor with a fiat currency is totally foolish.
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  • Gary Gensler, who led the Commodity Futures Trading Commission during the Obama administration from 2009 to 2014, will be President-elect Joseph R. Biden's nominee to lead the Securities and Exchange Commission. Rohit Chopra, the former assistant director of the Consumer Financial Protection Bureau, has been chosen to run that agency. It is rather good news to have someone in this position who understands Bitcoin and how important it will be to the world of the future. It remains to be seen whether this will translate into favorable regulation.
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    The remittance market has to realize their days are numbered.... and with establishing a community of businesses that have real-world uses, the people theree don't have to convert to fiat at all. I am going to be keeping an eye on this for sure. LN is such a huge win for BTC.
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    "So, anyone saying that bitcoin is in a “bubble” is making a judgement call on its intrinsic value. But they never (not that I’ve seen, anyway) share their calculations or even reveal the number that they’re thinking of."
  • FYI, North Dakota has the only state owned bank A BILL for an Act to create and enact section 6-09-15.10 of the North Dakota Century Code, relating to cryptocurrency custodian services and exchanges; and to provide for a legislative management report. BE IT ENACTED BY THE LEGISLATIVE ASSEMBLY OF NORTH DAKOTA: SECTION 1. Section 6-09-15.10 of the North Dakota Century Code is created and enacted as follows: 6 - 09 - 15.10. Cryptocurrency - Exchange - Custodian services. The Bank of North Dakota may provide custodian services for digital currency and may implement a digital currenc
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    5-y&geo=US&q=buying gold,buying bitcoin Interesting to note that when this happened in 2017, BTC was still a while away from peak.
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    Maybe they will give incentives if you pay in bitcoin. If they end up doing that then it could be a win win situation. Miami gets bitcoin, tax payers pay less in the short term and get exposure to bitcoin. Interested to see how this plays out.
  • Bitcoin miners major costs are electricity and cooling afford buying the hardware. The miners are heavily invented to find the lowest possible cost of energy in existence. With an incentive to lower the costs of mining, they are pushing the limits of using renewable resources at damns, solar, and wind. Beyond renewables you’re beginning to see smart use of miners working with energy companies to convert natural gas that has been getting flared (burned) and instead converting it to power mining equipment. Does every miner do this? No. But it means that the industry is going to continu
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