Editorial On Cryptocoins: I think I know why Satoshi Nakamoto Hides

[R-T-B]

@R-T-B

I'll pass on your sickening Marxist positioning and the obvious contradictions on your text; let me just forward some bad news:
your knowledge of the monetary and financial system is null, and digital currency can only be understood in this context. When you're familiar with concepts like the Gold Standard, money as a commodity, Fiat money, fractional reserve banking, money supply... then we can have a chat.

I'm familiar with all of those. I have no idea how some of them apply to digital currency however. I mean the gold standard, really? I know bitcoin is designed to immitate a precious ore but come on, this is a clear cut case of Tragedy of the Commons, which is not a "Marxist" theory, but something even the most hardcore capitalists acknowledge can happen and be an issue.

Maybe we should start that chat.

Excuse me sir RTB

But... we didn't see it coming??? Are you mental? 'When I started mining the impact wasn't quite clear'... well you lack some serious insight in anything outside of your own attic then.

No, I mean it was obvious we were burning some energy. What was not obvious was the scale to which this would take off, it's impact on supply and such, etc. I really doubt anyone back then thought bitcoin would top $50.00 and stay there for long, so why would the public care? You're saying we could affect something as big as the gaming market? Pfft. Such thoughts were jokes back then.

a whole world out there you know? I'm sorry to be so harsh, but that sentence right there disqualified any faith I still have in anything else you wrote. It contains so much naive, I can't even get to grips with it. And you came to terms with yourself and became 'level headed' after a few Bitcoin value ups and downs. Wow... just wow.

I do believe being once a miner who bought the cards, and now a gamer who can't get any grants me perspective on this issue, yes.

The cryptocurrency by definition and by the way it is mined, should die off really quickly, but validation through blockchain is something that will essentially save us loads of effort and in turn, energy compared to the current way we handle transactions.

I essentially argue this. Other than a few nitpicks, we are basically on the same page re the rest of your post.

 

[ppn]

hes hiding because he knows what happens to ponzi. i don't know why you'd think there is any other reason.

and who needs to buy video cards right now, the good moment for that was 1 year ago at launch. now is too close to next series and price drops of 200$ at the high end that follows.

 

[Totally]

I saw your video, and its shocking that a social liberal group of countries with strict laws to prevent growth and development owe trillions to other countries that then have to keep propping them up as they produce little and consume much.

Yep that's pretty much the underlying liberal theme, point fingers, do nothing to fix the problem, expect others to shoulder, I'm sorry "share" the burden.

 

[notb]

A society without debt would be more realistic.

Without debt as in what? No way to borrow money? No banks?

Oh and this bullshit about proof of work... you're not working, you're just using shitloads of energy to let a machine do processing. The work you do, is paying your energy bill and pressing the on button. Its one of those things that people who sit behind a computer love to think of as work, and it has become some weird form of self fulfilling prophecy for them. Get a life...

This is something I noticed on this forum lately.
With the flood of multi-core CPU topics there are more and more people saying things like "I use my PC for serious work, go home to your games!". Whenever I ask those people it always turns out to be Folding or something similar. Oh come on... I think this really got out of hand lately.
Although I do hope that a geeky teenager running BOINC could, as a result, become involved in science... and maybe get into biology, medicine or physics instead of, for example, becoming another youtube reviewer or PC builder.
I mean, sure, the whole point of scientific distributed computation is that people running nodes don't have to understand what's going on. But I still hope that it at least makes them a little interested.

I'll pass on your sickening Marxist positioning and the obvious contradictions on your text; let me just forward some bad news:
your knowledge of the monetary and financial system is null, and digital currency can only be understood in this context. When you're familiar with concepts like the Gold Standard, money as a commodity, Fiat money, fractional reserve banking, money supply... then we can have a chat.

[USER=41983]R-T-B said himself that he's not an economist and this is just his view as a BTC user. I think this is fine. Most of people here don't know how a transistor works, but it's not necessary to have an opinion on CPU performance.
My knowledge of monetary and financial systems is supposedly pretty substantial. You can chat with me if you want to be humiliated.

Taking care of 20 mining rigs spread out over 3 houses and 2 states IS A FULLTIME JOB!!
(...)
So time to bail out when the good is good enough.

So you totally changed your opinion about mining in like what... a week? I remember talking with you in one of the threads and you seemed like looking forward to doing this until retirement.
Also, you wrote that this "is a fulltime job". But if I understand correctly, you have a job as well, right? You had a lot of money to put into mining rigs.

In the end, was this profitable? But honestly, taking all costs into consideration (both real and alternative).

lol I am doing better selling amd cards than mining.

You're not alone. The best business in the whole mining craze is in selling cards and pre-built rigs. I see offers with home-made rigs that go for 20% premium over the parts used. And they have no warranty other than that for the individual parts (often used).[/user]

 

[cdawall]

You're not alone. The best business in the whole mining craze is in selling cards and pre-built rigs. I see offers with home-made rigs that go for 20% premium over the parts used. And they have no warranty other than that for the individual parts (often used).

Yep buy open item or used cards flash a mining bios and then sell at a stupod premium. I have doubled the money on every card sold.

 

[bug]

cost-to-benefit ratio went way up

You do realize that goes up when costs increase or benefits dwindle.

 

[notb]

You do realize that goes up when costs increase or benefits dwindle.

This is an interesting thing (but linguistic or cultural?).
People (especially those with quantitative background) usually tend to think about ratios like they do about fractions in math. a-to-b or a-b ratio meaning a/b.
This concept is not entirely universal. Quite a lot of people name ratios differently.
The most used term would possibly be "price-to-performance", which is very close to "cost-to-benefit" that @R-T-B uses.
It's not a ratio of a-to-b. It's a ratio of 2 things in some way and to quickly guess which is which you simply have to think, which direction seems "good".
In other words: it's natural for people to think, that an increase is the expected, beneficial direction.

I also tend to think that this reversed naming is popular in US, but I don't have any theory for that - other than the fact that Americans generally like to do things differently.
For example US is the only large country in the world that primarily uses MDY date format (which is unordered just like the discussed ratios, so to speak).
US is also the only developed country that didn't adopt the metric system.

 

[Prince Valiant]

What's unordered about MM/DD/YYYY?

 

[cdawall]

What's unordered about MM/DD/YYYY?

DD/MM/YYYY is how his country does it. Therefore it is the right way

 

[FordGT90Concept]

YYYYMMDDHHMMSS is best because it's easily sortable.

MM/DD/YYYY is because of how dates are properly presented in a sentence: Month Day, Year. It is July 8 (alternatively: "the eighth"), 2017, anno domini. Kind of like how we use commas in numbers to represent pauses in saying it: 1,342 is one thousand, three hundred forty-two.

As for metric, we're free to use whatever tool suits the problem best.

 

[notb]

What's unordered about MM/DD/YYYY?

It's not ordered by length of a unit: year > month > day.
So YYYY/MM/DD and DD/MM/YYYY are ordered in this sense, but MM/DD/YYYY isn't. It simply resembles how Americans present dates in speech.
But using the same form in documents is useful - especially when it can be confusing (days <= 12) - that's why most countries in the world agreed to use a unified system. USA didn't join (along Liberia and Burma).

You can still see country/nation specifics when it comes to how we say dates and even numbers.
For example in Germany 321 is Dreihunderteinundzwanzig, so three hundred one and twenty.

DD/MM/YYYY is how his country does it. Therefore it is the right way

Actually, no. Poland officially uses the ISO 8601 form: YYYY-MM-DD.

 

[yotano211]

Without debt as in what? No way to borrow money? No banks?

This is something I noticed on this forum lately.
With the flood of multi-core CPU topics there are more and more people saying things like "I use my PC for serious work, go home to your games!". Whenever I ask those people it always turns out to be Folding or something similar. Oh come on... I think this really got out of hand lately.
Although I do hope that a geeky teenager running BOINC could, as a result, become involved in science... and maybe get into biology, medicine or physics instead of, for example, becoming another youtube reviewer or PC builder.
I mean, sure, the whole point of scientific distributed computation is that people running nodes don't have to understand what's going on. But I still hope that it at least makes them a little interested.

[USER=41983]R-T-B said himself that he's not an economist and this is just his view as a BTC user. I think this is fine. Most of people here don't know how a transistor works, but it's not necessary to have an opinion on CPU performance.
My knowledge of monetary and financial systems is supposedly pretty substantial. You can chat with me if you want to be humiliated.



So you totally changed your opinion about mining in like what... a week? I remember talking with you in one of the threads and you seemed like looking forward to doing this until retirement.
Also, you wrote that this "is a fulltime job". But if I understand correctly, you have a job as well, right? You had a lot of money to put into mining rigs.

In the end, was this profitable? But honestly, taking all costs into consideration (both real and alternative).

You're not alone. The best business in the whole mining craze is in selling cards and pre-built rigs. I see offers with home-made rigs that go for 20% premium over the parts used. And they have no warranty other than that for the individual parts (often used).[/user]

Very profitable, I buy and resell cards also.

 

[R-T-B]

hes hiding because he knows what happens to ponzi. i don't know why you'd think there is any other reason.

Well, if he's a Ponzi, he's horrible at it. Satoshis mined bitcoins are well known due to a quirk in his miner, and he's never moved them. I'm going with shame, especially since there have been no threats to prosecute him.

Yep buy open item or used cards flash a mining bios and then sell at a stupod premium. I have doubled the money on every card sold.

The people who made money in the last gold rush were those who sold the pickaxes.

Without debt as in what? No way to borrow money? No banks?

Pretty much. Mind you that's really out there so far it's not even funny as well, I just said it was more realistic than a "currency-free society"

 

[Frick]

MM/DD/YYYY is because of how dates are properly presented in a sentence: Month Day, Year. It is July 8 (alternatively: "the eighth"), 2017, anno domini.

Only properly in that perversion of language called english. ISO 8601 or bust, at least in written form.

 

[FordGT90Concept]

So YYYY/MM/DD and DD/MM/YYYY are ordered in this sense, but MM/DD/YYYY isn't. It simply resembles how Americans present dates in speech.
But using the same form in documents is useful - especially when it can be confusing (days <= 12) - that's why most countries in the world agreed to use a unified system. USA didn't join (along Liberia and Burma).

The reason why MM/DD/YYYY is used everywhere is to prevent errors. For example, when you say your birth date to a nurse at a hospital to confirm you are who you are, you're going to say it as "July 8, 2017," or "seven, eight, seventeen." It'll appear the same on the record and it's consistent everywhere in the USA. Having someone tell you "seven, eight, seventeen" and interpreting it as day, month, year is one way malpractice lawsuits get started.

Representing a month as a number wasn't really a thing until computers came along.

Only properly in that perversion of language called english. ISO 8601 or bust, at least in written form.

Hey, we respect our roots!

 

[bug]

The reason why MM/DD/YYYY is used everywhere is to prevent errors. For example, when you say your birth date to a nurse at a hospital to confirm you are who you are, you're going to say it as "July 8, 2017," or "seven, eight, seventeen." It'll appear the same on the record and it's consistent everywhere in the USA. Having someone tell you "seven, eight, seventeen" and interpreting it as day, month, year is one way malpractice lawsuits get started.

Representing a month as a number wasn't really a thing until computers came along so there really wasn't any entry point for confusion.


Hey, we respect our roots!

Never heard anyone saying a date in numbers only. I think it's only confusing in writing.

 

[AnarchoPrimitiv]

So many people incorrectly believe that all technology is neutral, and it just matters how it is used....but that's not the case at all, technology has its own inherent "morality" so to speak. It's not solely humans fault for "this", anyone with an elementary understanding of capitalism could have told you that this cryptocurrency thing could have only turned out the way it has....in a capitalist reality, profit and it's determination will always define reality.

 

[notb]

The reason why MM/DD/YYYY is used everywhere is to prevent errors. For example, when you say your birth date to a nurse at a hospital to confirm you are who you are, you're going to say it as "July 8, 2017," or "seven, eight, seventeen."

You're trying to convince me that nurses are retarded and have a 2-digit buffer?

In Poland we would say "8th of July, 2017" and yet we write 2017-07-08. It's really possible!

Pretty much. Mind you that's really out there so far it's not even funny as well, I just said it was more realistic than a "currency-free society"

It's an awful vision. Just awful. Have you thought this through?

I mean: the world when you can't borrow money, but can only spend what you were paid for your work... how would that even work in XXI century?
How would you pay for any kind of training (from e-learning to PhD) that is supposed to let you earn more in the future?

Removing banking from the system takes as back to times of very strict social segmentation. Times when you really had almost no chance of becoming better educated and richer than your parents.

 

[FordGT90Concept]

In Poland we would say "8th of July, 2017" and yet we write 2017-07-08. It's really possible!

Well that's just weird.

 

[MrGenius]

Never heard anyone saying a date in numbers only.

Never heard of 9/11?

Anyway. That's how we do it. When asked for date of birth especially.

You're trying to convince me that nurses are retarded and have a 2-digit buffer?

I don't even understand what you mean by that. But like I said. That's how we do it. For date of birth we are expected to state it numerically as DD/MM/YYYY(typically just DD/MM/YY). If you don't then you're the one who's retarded. Because that's not how we're expected to do it. So much so that if you were to state it numerically as MM/DD/YYYY(or MM/DD/YY), or any other numerical way other than DD/MM/YYYY(or DD/MM/YY), then you've technically just lied about you're date of birth.

 

[bug]

Never heard of 9/11?

That, I've heard. What I've never heard is 9/11/01. I don't know all the languages on Earth, but from those I do know, none has this inversion. Which is what makes it awkward, that's all.

 

[Eric3988]

What a crock. How can one not expect anonymous, non regulated currency to be used for nefarious purposes?

 

[Prima.Vera]

We should really thank all those dedicated crypto mining factories in China, Island, US, or Korea for destroying any chance the normal average Joe would make any substantial profit with a PC only.
As you said the human greed is the worst enemy of humanity.
https://bitcoinworldwide.com/mining/china/

This guy here is paying 1million Euros/moth electricity cost only...: Imagine the profit.

 

[R-T-B]

It's an awful vision. Just awful. Have you thought this through?

I know. I wasn't the one arguing for it.

 

[Rahmat Sofyan]

" It has become that way due to human greed ... "

Problem solved...

just wait till tax policy hit all those crazy mining stuff..

I can't effort for it honestly, but I hate it so much at the same time..

I remembered when folding at home came, and it much better for all purposes..

#HumanGreed