Bitcoin !! i dont get it !!
Bitcoin !! i dont get it !!
How do robots and automation fit into the equation?....if I had a robot that could role blunts, give head and wipe my ass I would never get out of this chair.
-
- MPG Ambassador
-
Karma Hippie
- Custom Title: eye the witch Melancholy
- Location: socal
- Has bestowed Karma : 33 times
- Received Karma : 28 times
- Posts: 17529
- Joined: Mon Jun 06, 2011 1:38 pm
Bitcoin !! i dont get it !!
robots and automation cant feed themselves... yet
get back then.
get back then.
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
-
- MPG Ambassador
-
Karma Hippie
- Custom Title: eye the witch Melancholy
- Location: socal
- Has bestowed Karma : 33 times
- Received Karma : 28 times
- Posts: 17529
- Joined: Mon Jun 06, 2011 1:38 pm
Bitcoin !! i dont get it !!
Bitcoin was born the day in 2008 some anonymous computer geek using the unlikely Japanese pseudonym Nakamoto posted an algorithm (on some obscure listserve website) that made something remarkable possible: It could generate a string of zeros and ones that was unique, ensuring that, before it could be transferred from one computer or device to another, a minimum number of other users had to trace its transfer and verify that it left the device of the seller (of some good or service) before moving to the device of the buyer. Moreover, the algorithm was written in such a way as to guarantee a steady ‘production’ of these strings—or bitcoins—over time, which, along with the computing power devoted by users in order to help track transfers, could collectively to maintain The Ledger. Lastly, to cap the supply of bitcoins, and thus safeguard their value, the algorithm guaranteed that the maximum number of these strings could only grow (given the algorithm’s structure) to 21 million units by the year 2040. Once it reached that quantity, its ‘production’ would cease and the users of bitcoins would have to do with these 21 million units. Meanwhile, before that date, and before the maximum bitcoin supply is reached, the ease with which users could ‘mint’ or ‘dig up’ fresh bitcoins (by making computer power available to the bitcoin community) would be inversely related to the total quantity of bitcoins already ‘created’ or ‘extracted’ from the algorithm.
In a sense, the designer of the Bitcoin algorithm (who has, by the way, dropped off the radar some time ago) seems to have designed the new currency on the basis of faith in the crudest version of the ‘monetarist’ Quantity Theory of Money—the idea that the value of money depended solely on the quantity of money supplied to the public. Thus, they aimed at creating the digital equivalent to… gold. Come to think of it, Bitcoin was, indeed, modeled on gold.
http://www.truthdig.com/report/item/bit ... 20131226//" onclick="window.open(this.href);return false;
In a sense, the designer of the Bitcoin algorithm (who has, by the way, dropped off the radar some time ago) seems to have designed the new currency on the basis of faith in the crudest version of the ‘monetarist’ Quantity Theory of Money—the idea that the value of money depended solely on the quantity of money supplied to the public. Thus, they aimed at creating the digital equivalent to… gold. Come to think of it, Bitcoin was, indeed, modeled on gold.
http://www.truthdig.com/report/item/bit ... 20131226//" onclick="window.open(this.href);return false;
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
- Intrinsic
- Advanced Grower
-
Karma Hippie
- Has bestowed Karma : 1751 times
- Received Karma : 1537 times
- Posts: 7656
- Joined: Thu May 21, 2009 10:51 am
Bitcoin !! i dont get it !!
So now are you saying with the truthdig articlebentech wrote:you cannot make a currency finite when labor and production are infinate
thats why currences linked to resources like the gold standard are a scam.
theres no more frontier,
we live on a globe,
the understanding of that is what forced fiats into dominance and thus what propelled humanity into civilization
there is value in having a limited fiat system such as the gold standard would supply. A plus for bitcoins
Or the fact it models after the Gold standard indicates a non workable system, if one believe using the gold standard is bad. A negative for bitcoins
Last edited by Intrinsic on Fri Dec 27, 2013 7:27 pm, edited 1 time in total.
- Intrinsic
- Advanced Grower
-
Karma Hippie
- Has bestowed Karma : 1751 times
- Received Karma : 1537 times
- Posts: 7656
- Joined: Thu May 21, 2009 10:51 am
Tangent alert:
It all eventually boils down to an optimization problem with population limit as a constraint; Population control. No system will stabilize if the ratio of people per resources is continually get larger. One can not change that with just using a different (limited or unlimited) fiat system to model an economy.
A sin or a good idea?
A sin or a good idea?
http://en.wikipedia.org/wiki/Gold_standard" onclick="window.open(this.href);return false;As of 2013 no country used a gold standard as the basis of its monetary system, although some hold substantial gold reserves.
-
- MPG Ambassador
-
Karma Hippie
- Custom Title: eye the witch Melancholy
- Location: socal
- Has bestowed Karma : 33 times
- Received Karma : 28 times
- Posts: 17529
- Joined: Mon Jun 06, 2011 1:38 pm
Bitcoin !! i dont get it !!
nope!
not saying that...
merely passing along all im reading on the subject... all sides
after reading THAT article my feelings about bitcoin has turned decidedly for the worse PRECISELY because of the further questions that caveat their illuminating brings up...
found this,
lots of nuts and bolts most of this other editorials completely miss
http://bitcoin.org/en/faq" onclick="window.open(this.href);return false;
not saying that...
merely passing along all im reading on the subject... all sides
after reading THAT article my feelings about bitcoin has turned decidedly for the worse PRECISELY because of the further questions that caveat their illuminating brings up...
found this,
lots of nuts and bolts most of this other editorials completely miss
http://bitcoin.org/en/faq" onclick="window.open(this.href);return false;
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
-
- MPG Ambassador
-
Karma Hippie
- Custom Title: eye the witch Melancholy
- Location: socal
- Has bestowed Karma : 33 times
- Received Karma : 28 times
- Posts: 17529
- Joined: Mon Jun 06, 2011 1:38 pm
Bitcoin !! i dont get it !!
heres of interest,
an explaination of how terrible libetarian ideals forced into policy are
using bitcoin
i dont follow the tie-in
you?
http://www.alternet.org/tea-party-and-r ... s-and-anti" onclick="window.open(this.href);return false;
an explaination of how terrible libetarian ideals forced into policy are
using bitcoin
i dont follow the tie-in
you?
http://www.alternet.org/tea-party-and-r ... s-and-anti" onclick="window.open(this.href);return false;
"we must strive to become good ancestors" nader
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
https://www.myplanetganja.com/viewforum.php?f=48
FUCK jimmydorecomedy.com
- MadMoonMan
- Karma Hippie
- Custom Title: nOT-a-BoT
- Location: A Quantum Universe
- Has bestowed Karma : 15 times
- Received Karma : 231 times
- Posts: 8028
- Joined: Sat Aug 29, 2009 3:35 pm
Bitcoin !! i dont get it !!
bitcoins being "captured" i.e. taken world wide by government agencies chasing down world wide criminal empires.
search it.
bit coins are currency
but wut if de inner net goes down?
search it.
bit coins are currency
but wut if de inner net goes down?
Just because I can't spell misanthrope doesn't mean I'm completely stupid.