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Originally posted by old_gregg
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Lemme guess. He's writing and you're coloring?τὸν ἥλιον ἀνατέλλοντα πλείονες ἢ δυόμενον προσκυνοῦσιν -
shitTe Occidere Possunt Sed Te Edere Non Possunt Nefas Est.Comment
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"If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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the volume and coincidental timing of futures contracts expiring seems more than coincidentalTe Occidere Possunt Sed Te Edere Non Possunt Nefas Est.Comment
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I see two major problems with Bitcoin:
1. Bitcoin is starting to suck all our power... and killing our planet.
https://www.theguardian.com/technolo...cryptocurrencyBitcoin’s energy usage is huge – we can't afford to ignore it
The cryptocurrency uses as much CO2 a year as 1m transatlantic flights. We need to take it seriously as a climate threat
itcoin’s electricity usage is enormous. In November, the power consumed by the entire bitcoin network was estimated to be higher than that of the Republic of Ireland. Since then, its demands have only grown. It’s now on pace to use just over 42TWh of electricity in a year, placing it ahead of New Zealand and Hungary and just behind Peru, according to estimates from Digiconomist. That’s commensurate with CO2 emissions of 20 megatonnes – or roughly 1m transatlantic flights.
That fact should be a grave notion to anyone who hopes for the cryptocurrency to grow further in stature and enter widespread usage. But even more alarming is that things could get much, much worse, helping to increase climate change in the process.
Burning huge amounts of electricity isn’t incidental to bitcoin: instead, it’s embedded into the innermost core of the currency, as the operation known as “mining”. In simplified terms, bitcoin mining is a competition to waste the most electricity possible by doing pointless arithmetic quintillions of times a second.
The more electricity you burn, and the faster your computer, the higher your chance of winning the competition. The prize? 12.5 bitcoin – still worth over $100,000 – plus all the transaction fees paid in the past 10 minutes, which according analysts’ estimates is another $2,500 or so.
This is a winner-takes-all game, where the prize is guaranteed to be paid to one, and only one, miner every 10 minutes. Burning more electricity increases your chances of winning, but correspondingly decreases everyone else’s – and so they have a motivation to burn more electricity in turn
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2. The NSA will most likely obsolete the crypto behind Bitcoin making it worthless overnight. The NSA, of course, invented SHA-2 (SHA-256) which bitcoin uses so you can bet they know how to break it. In addition, there have been many reports that the NSA is working on a quantum computer which will make most forms of crypto we have today obsolete including ECDSA used for signing Bitcoin transactions. ECDSA, you guessed it, is a product of the NSA/NIST so it may already have a backdoor."If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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It's been interesting watching the value of the futures contracts. I went to CME this morning and saw the value had dropped. Hopefully all the CB bitcoin millionaries got out at the top, although I saw one guy touting this as a good time to buyOriginally posted by old_gregg View Post
"Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. UchtdorfComment
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I've been doing a deep dive in the last couple of weeks on the plethora of Distributed Ledger companies that have popped up since this thread was originally posted. A lot has changed since then, and I'm wondering if anybody else has been watching the changes and has a feel for the current market.
Do any of you have contacts in the space? Anybody care to talk about challengers to Ethererum? NEO is a Chineese based, and a company Cardano is a Zug Swiss company. Anybody have opinions on bottleneck issues - or is this resolved with Ethereum Classic? Looking to learn as much as possible this week, and if anybody here is an expert already - let's talk about it.
When poet puts pen to paper imagination breathes life, finding hearth and home.
-Mid Summer's Night Dream
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It seems that Bitcoin has gone past $20,000: https://arstechnica.com/tech-policy/...ng-new-record/
I refuse to invest in anything that doesn't have something tangible behind it, so I find it as curious, but nothing I would seriously do anything about.
Someone who goes by hoorhash made the following comment after the article:
about a decade ago it was a great idea and not a scam
today its where millionaires bury their money, much easier to write down a number, store on flash drive and cash it out anywhere in the world when on the run
no need to worry about shovels, rot, forgetting where you buried it or travelling there, or a walmart being built on top of it
completely useless to buy normal things, i mean how would you feel buying a bag of fritos then next week learning you could of bought a car instead lmao, you wouldnt walk in and buy a cheeseburger with a gold bar and shave off a little bit either so useless for actual humans
it also uses as much electricity / energy as entire countries like columbia geez talk about opposite of green its literally raping mother earth for those who claim to care about climate change
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something else something better something more secure something for actual humans will come along bit coin just isnt it, pretty sure any country or person who owns a dam, power plant, wind farm is running miners on site too lol, just like everything else on the planet evil weirdo greedy anti human criminals ruined it for the rest of usComment
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Bitcoin has gone from under $11K in October to well over $30K today. Fascinating."What are you prepared to do?" - Jimmy Malone
"What choice?" - Abe PetrovskyComment
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Bitcoin has the same problem as that Bishop who goes golfing on Sunday and hits a hole-in-one; Who's he going to tell?
The first rule of bitcoin security is to never admit you own it. Especially online.Comment
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LOL@Tesla...
https://finance.yahoo.com/news/tesla...153636398.htmlTesla's bitcoin investment has carbon footprint of 1.8 million cars
Tesla's (TSLA) $1.5bn (£1bn) investment in bitcoin (BTC-USD) has a carbon footprint equivalent to the annual emissions of 1.8m cars, according to estimates from Bank of America.
Analysts on the investment bank's global commodity research team on Wednesday published a major report on bitcoin, concluding that the cryptocurrency has a large and growing impact on the environment.
"We believe ESG-minded [environmental, social, and governance] investors have to pay attention to the enormous environmental costs of Bitcoin," Bank of America concluded.
The investment bank calculated that a $1bn investment in bitcoin would produce the same carbon emissions as the annual output of 1.2m cars due to energy usage associated with bitcoin.
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Like I need another reason to not buy their cars.
"If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
-
"If there is one thing I am, it's always right." -Ted Nugent.
"I honestly believe saying someone is a smart lawyer is damning with faint praise. The smartest people become engineers and scientists." -SU.
"Yet I still see wisdom in that which Uncle Ted posts." -creek.
GIVE 'EM HELL, BRIGHAM!Comment
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Anyone caught up in cryptocurrency? The sell-off looks brutal.Comment
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lol buy high sell low! I'm not even going to look at my wallet for like 10 years. I don't understand how people stay engaged and go through the highs and lows with such a crazy volatile market...Originally posted by Bo Diddley View Post"I'm anti, can't no government handle a commando / Your man don't want it, Trump's a bitch! I'll make his whole brand go under,"Comment
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The crypto bros in my FFL slack chat are still pumping it up and saying we should all be buying now. They crack me up. They were going to get rich on AMC thru short squeezes but it was clear from their messages that they don’t understand anything to do with securities.Originally posted by Commando View Post
I still don’t understand how crypto is an investment. It’s more of a wish than an investment."Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. UchtdorfComment
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