datadata

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211.
by datadata 4y ago
Here is an example: https://www.capitalone.com/bank/disclosures/savings-accounts... > Advance Notice of Withdrawal: Under federal law, we must reserve the right to require you to give us at least 7 days written
212.
by datadata 4y ago
It is notable that Bitcoin took fewer years than both Google and FB to reach a 1 trillion market cap. Now market cap is a pretty horrible metric (and 1 trillion is arbitrary), but one way to compare totally different things. Note that bitco
213.
by datadata 4y ago
> In theory, every single USDT in circulation could be redeemed at a moment's notice The easy way to protect against this is to not contractually promise instant redemption. I think this is what tether actually does, but I could n
214.
by datadata 4y ago
Debt based monetary policy is the root ponzi here. Our rate of assuming new debt depends on the assumption of endless economic growth.
215.
by datadata 4y ago
If you had a lot of capital, you could also deploy that capital completely outside of crypto, multiply it, then come back into crypto to have a larger stake in the crypto assset than you started. So your comment is true, but really applies
216.
by datadata 4y ago
> Especially when you have to assume that we live in some fantasy world where nobody can be trusted I think the value of crypto is that trust is not required to participate in the system and transact. You don't need to be second g
217.
by datadata 4y ago
That's the difference between an investment and money. I've never said that bitcoin is an investment, but it is a form of money.
218.
by datadata 4y ago
It is not misinterpretation, and the precision matters. For example, discourse on abortion that is favorable to abortion rights would not talk about the opposition "regulating" abortion, but only in terms of banning it. With crypt
219.
by datadata 4y ago
> Neither. Guns are a tool usable by a variety of actors for a variety of purposes. Agree. Now replace guns with crypto and this is basically my position. There is obviously nuance for this kind of classification for any technology.
220.
by datadata 4y ago
> A good investment does need intrinsic value, which BTC does not have. Agree, USD is also not a good investment but it is still widespread to have some USD. > It's also not a feasible payment system. Disagree, it is used (not wi
221.
by datadata 4y ago
Normally if the policy outcome you wish for is for X to be non-existent, then it would be more precise and explicit to say "we should ban X". The word regulate implies to some degree that we want X to exist, just in a way that is
222.
by datadata 4y ago
This is not naivety, it is just stating what the ideal is.
223.
by datadata 4y ago
If you believe those things, you should be asking for crypto to be outlawed, not disingenuously regulated for the underhanded purpos of outlawing it.
224.
by datadata 4y ago
I think it would be more standard to replace "regulate" with "outlaw" as well, does that make sense?
225.
by datadata 4y ago
The answer to this question does not demonstrate that USD has any intrinsic value, it merely demonstrates that USD is the most valuable and well circulated of the currencies. These currencies still have zero intrinsic value.
226.
by datadata 4y ago
It seems rash to wish for regulation to be weaponized to the effect of banning something, rather the actual meaning of regulation to define and enforce orderly, fair, predictable functioning of something.
227.
by datadata 4y ago
> Governments will likely fight this tooth and nail however, because crypto is currently an anti-government technology. Democratic governments represent the will of the people, and I don't think a technology can be pro-government or
228.
by datadata 4y ago
Accepting some form of unbacked currency does not give the currency intrinsic value and therefore make it backed. El Salvador made bitcoin legal tender, which means that USD or Bitcoin could be used to pay property taxes there, that doesn&#
229.
by datadata 4y ago
Yeah, that kind of contract is not really good. There are much better arrangements out there that leverage the fact that bitcoin mining is an interruptible load.
230.
by datadata 4y ago
> if the value dropped really hard all of a sudden, for example, it might suddenly be more viable to attack the network In practice, users of bitcoin would simply wait a longer time for more block confirmations, namely if you estimated t
231.
by datadata 4y ago
> Um, no. That presumes there is somewhere cheaper to move, for one. If you assume this isn't the case, then the original comment I was responding to would imply that bitcoin mining is raising the price of energy for the entire wor
232.
by datadata 4y ago
Are you sure that energy is a fungible good? Energy is neither free to transport, nor is demand for energy insensitive to location. If energy were fungible, you wouldn't see energy pricing that varies by an order of magnitude or more.
233.
by datadata 4y ago
Sure, but there are areas where it is not economical to actually make use of that power. For example, you could place a bitcoin mining solar powered installation in the middle of a desert where there would be no need for desalinized water a
234.
by datadata 4y ago
The inflation due to bitcoin mining is already smaller than other systems that are widely considered stable. Note that I don't think bitcoin will actually be stable, but I think inflationary pressures are almost insignificant as a fact
235.
by datadata 4y ago
> That's intellectually dishonest because Bitcoin is simply chasing cheap power and hydro power is among the cheapest. Bitcoin miners will happily use coal if it's sufficiently cheap. Also, use of certain renewables comes at th
236.
by datadata 4y ago
I think you are talking past each other. Leaving out transaction fees for a second (which are currently a very small percentage of the miner reward). The block reward is programmed to half every 4 years, taken alone this together with a fix
237.
by datadata 4y ago
> mathematically guaranteed to be a crypto dead-end Your argument is not mathematical at all. It assumes first that bitcoin needs to appreciate 10-100 times current value. And second, that political willpower exists to then shut it down
238.
by datadata 4y ago
Adding iron to the ocean to fertilize carbon sequester ING plankton is a interesting related approach: https://en.m.wikipedia.org/wiki/Iron_fertilization
239.
by datadata 4y ago
How can you just ignore dozens of hyperinflation episodes? Clearly there are situations where supply becomes infinite.
240.
by datadata 4y ago
The concrete financials are still dependent on an assumption that someone else will buy a product that the company makes. It seems inescapable that the bedrock of any definition of value is what someone else is willing to pay for something.

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