moralsupply

6 ms·

1.
by moralsupply 5y ago
Go ahead and call Bitcoin a "fiat currency" if that suits your narrative. Don't be surprised if some people laugh at your face, though.
2.
by moralsupply 5y ago
A mafia or some other organization capable of enforcing rules over people could create a fiat currency too.
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by moralsupply 5y ago
Quoting the first sentence of the Wikipedia article: > Fiat money is a currency (a medium of exchange) established as money, often by government regulation. As for the definition of the word "fiat": https://www.wordn
4.
by moralsupply 5y ago
Except that most gold being traded under the "store of value" premise doesn't exist, it's "paper gold". Also, gold is the one most manipulated market in the world, having both banks, central banks and governmen
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by moralsupply 5y ago
How did you conclude that I was implying that USD being fiat is an argument for the use of BTC?
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by moralsupply 5y ago
Do you know what "fiat" means? It means "mandatory". How is Bitcoin being imposed on you? On the other hand, if you live in the US and you decide to not use the US Dollar, you'll go to jail.
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by moralsupply 5y ago
Feel free to keep all your wealth allocated in gold. We'll talk again in 5 years time.
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by moralsupply 5y ago
Following that logic China and India should be a lot more problematic than Brazil. As a matter of fact, both of those countries "mismanage" Covid-19 as well.
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by moralsupply 5y ago
> And you must be laughably far right to call The Economist left wing. Marine Le Pen would call it a right wing paper. Did you read the article? It doesn't follow a "right wing" tone.
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by moralsupply 5y ago
Sweden doesn't "manage" Covid-19 according to the expectations of whoever wrote this article (no lockdowns, no masks, no "social distancing" rules, etc.). Is Sweden "threatening the world" as well? Or is t
11.
Fed Chairman Powell Says Bitcoin Is “A Substitute for Gold” at BIS Conference(youtube.com)
2 points by moralsupply 5y ago|0 comments
12.
by moralsupply 6y ago
Not dismissing her accomplishments or anything, but to keep things in perspective, do understand that NASA is a government organization, and the incentives for vertical growth within government organizations are quite perverse, as they are
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by moralsupply 6y ago
Does that mean more energy will be used to mine Bitcoin and more carbon will be emitted in the atmosphere, killing turtles in the oceans and burning the remains of the Amazon forest?
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by moralsupply 6y ago
Bitcoin is evil as it burns forests and kills turtles in the oceans due to its energy consumption. Buy bonds instead. They have no carbon footprint, and they are guaranteed by our governments, which only act in our best interests.
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by moralsupply 6y ago
With "low CPI" the government doesn't have to update government workers' salaries to compensate for real inflation. In the US, 1/6 of the workforce is paid directly by the government, which indirectly generate somet
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by moralsupply 6y ago
Dogecoin was created as a joke, but as money Doge is a lot more sound than any fiat currencies out there. It's not that Doge is a bubble. The bubble is the US Dollar. (insert Doge meme image here)
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by moralsupply 6y ago
The article should be renamed to: "Why measuring inflation using the CPI is misleading" The CPI is designed by the government in order to give it plenty of slack to keep printing money.
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by moralsupply 6y ago
The minimum wage is universally zero. Government-mandated minimum wage is effective price control, which never works. It has the effect of taking people who are not qualified to produce enough value to justify the minimum wage out of the jo
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by moralsupply 6y ago
And still we can't run Among Us on MacOS...
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by moralsupply 6y ago
Have you noticed that recently we get at least 2-3 bitcoin "energy consumption" stories reaching the homepage every week? You're not concerned with that, but you're concerned with my posts?
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by moralsupply 6y ago
Don't give the HN crowd any insight on what Bitcoin really is. They have been bashing Bitcoin for a long time, and they still don't get it. They downvote and fight whoever tries to bring some different perspectives to the discussi
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by moralsupply 6y ago
I love how much the HN community is invested in demonizing Bitcoin for its energy consumption. I wish for you bashing Bitcoin to keep all your wealth allocated in assets associated with fiat currencies. I also wish that you spend lots of ti
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by moralsupply 6y ago
https://fred.stlouisfed.org/series/M2SL
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by moralsupply 6y ago
I actually love how much the HN community is invested in demonizing Bitcoin for its energy consumption. It gives us, the ones who understand Bitcoin, more time to enter the market before it runs yet another full cycle. I truly wish for you
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by moralsupply 6y ago
Cryptocurrency mining is mostly about Bitcoin. Bitcoin has maintained at least 60% market dominance year-over-year since its inception (averaging 75% all time dominance). Ethereum (which can be profitably mined using GPUs) has currently 15%
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by moralsupply 6y ago
cryptocurrency mining is mostly done using ASICs
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by moralsupply 6y ago
No they don't. Gaming is the sole demand for all consoles and GPUs produced in the world. Those devices alone consume a lot more energy than Bitcoin miners (by about an order of magnitude). Gold and Silver are extremely expensive to mi
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by moralsupply 6y ago
Gaming uses more energy than Bitcoin. Shall we place carbon taxes on gaming too? How about a carbon tax on Gold and Silver, and on the whole of the banking system, which also consume more energy than Bitcoin? In any case, feel free to conta
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by moralsupply 6y ago
https://fred.stlouisfed.org/series/M2SL
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by moralsupply 6y ago
Underrated comment

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