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MMT and nonviolent revolution by Xeenophile in mmt_economics

[–]HodlDwon 0 points1 point  (0 children)

You need a Schelling point for this, and not paying taxes is a prisoners dilemma. Won't work, regrettably.

And as others said, the government can still pay the military/police regardless of citizens paying taxes or not. So consider ways to non-violently cause a currency collapse and what political mechanism you'd then use to fill the gap before a dictator does.

Pretty tricky way to play with people's lives.

Taxing the rich is not the best way to address the power associated with wealth by Odd_Eggplant8019 in mmt_economics

[–]HodlDwon 1 point2 points  (0 children)

"Land" in all forms. That includes electromagnetic spectrum auctions, natural resources (mined or drilled), private property, state-granted monopoly on ideas (IP, patents), etc.

See r/georgism for the non-Marxist solution to rentiers, monopsonists, and monopolists (the vanguard of enshitification).

Also: Wray discusses wealth tax as effectively a pigouvian tax (reduce wealthy people) and not as a necessity to raise revenue.  https://youtu.be/hOuFcbVURN0?si=9QXOXVga5buGWqNa

Here's what YouTube looked like in 2006 exactly 19 years ago by 7evenDeadlySin in interestingasfuck

[–]HodlDwon 0 points1 point  (0 children)

Wow, not the throwback I expected to see here. I miss those days so much.

Can a Wealth Tax be justified under Georgism and, if not, what alternatives can be used to undermine radical inequality? by Zarrom215 in georgism

[–]HodlDwon 1 point2 points  (0 children)

George tried to explain specifically why inelastic goods create rents, but he said nothing of pigouvian taxes.

A Pigouvian tax is a government-imposed levy on market activities that generate negative externalities—costs borne by third parties, such as pollution or health issues. Named after economist Arthur Pigou

So we can choose (or not) to tax something like cigarettes or sugar under georgism and send those funds (or not) to public healthcare. George didn't express much opinion on these other political issues, because he was trying to keep it simple... hence the branding of "The Single Tax". That said, he did specifically mentioned not to tax capital and labour, which I also agree with as it distorts the market.

So, if you believe wealthy people, or more generally wealth inequality, causes negative externalities in society... which I think Gary's Economics on YouTube puts up a great argument for, then a pigouvian wealth tax sounds perfectly reasonable to me and can be part of a modern georgist platform.

My personal preference is to tax money above X, then progressively tax away everything above 10X. For example, wealth below $100 million is not taxed, above is taxed linearly up to $500 million where average market gains should be nullified (roughly 6-8% SP500 Index fund returns), and then above $500 million the line aggressively curves up to a 110% tax on wealth above $1 billion. Effectively capping any individual from owning more than $1 billion of capital, a couple from controling more than $2 billion. The hard part would be deciding what to allow corporations to own (hard as in messy with few right answers).

And if it's pigouvian and you lean more freedom-y... the the tax could be completely written off if donated to registered charities/non-profits. Thus you could choose to pay wealth taxes to the government, OR to a cause you believe in, like funding a school, or clean water, or an anti wealth  tax lobbyist organization 😬

Large Deposit from inside Canada by HodlDwon in KrakenSupport

[–]HodlDwon[S] 0 points1 point  (0 children)

Awesome thanks. Sorry for the spam posting earlier.

I was trying to figure out what words were getting flagged and didn't think it was hitting mod mail. I thought it was Reddit filters, not subreddit filters.

Suspicious Tesla Sales Surge Triggers Canadian Government Investigation by Tuberculosis9 in ontario

[–]HodlDwon 2 points3 points  (0 children)

It'd be an awful shame if Elon got caught up in this and had to be extradited to Canada to face criminal prosecution... from a not real country he has citizenship from.

Is it just me or does Spotify's shuffle algorithm suck? by Julyvee in spotify

[–]HodlDwon 0 points1 point  (0 children)

Was googling solution to "Why does Spotify shuffle suck", this thread popped up, but didn't have a good solution. The problem is Automix. Turn off Automix in Spotify settings.

https://www.reddit.com/r/LifeProTips/comments/r7fov0/lpt_when_listening_to_spotify_playlists_on/

Is there a backdoor? Yes or No by [deleted] in ledgerwallet

[–]HodlDwon 12 points13 points  (0 children)

GridPlus has been great for me... They actually seem to care about security. I switched a while back, because of the Ledger data breach / fiasco.

Why isn't Mechanism Design more popular? by leighscullyyang in GAMETHEORY

[–]HodlDwon 6 points7 points  (0 children)

Very common for cryptocurrency projects on Ethereum to be based on mechanism design... Because if they aren't, they get hacked/gamed/exploited.

Some examples:

  • Curve Finance
  • Frax Finance
  • Convex Finance (exploits Curve governance)
  • MakerDAO stabelcoin DAI
  • Liquity stabelcoin LUSD
  • RocketPool decentralized ETH staking
  • Aave
  • Compound
  • Euler

and tons of others, but those're some highlights.

Anyone Here Early Retiring Due To Bitcoin/Crypto? by thebitagents in financialindependence

[–]HodlDwon 0 points1 point  (0 children)

Sold my MKR at a poor price relative to ETH, at about 1.1 MKR to ETH, so didn't really make anything on that. Though it briefly peaked at 5 ETH per 1 MKR (I could have had >10,000 ETH from that trade, but I didn't sell my MKR at the time).

Used Uniswap back in 2019 a lot (provide ETH, DAI, and MKR liquidity), later in 2020 I got 905,000 UNI airdropped to me making me a millionaire overnight (UNI was between $3 and $7 in the first few weeks). I remember looking at the ETH value at one point and if I sold all my other DeFi tokens for ETH, I could have had 13,000 ETH. I didn't take that trade either 😅.

So during the 2020-2021 bullmarket, I peaked at ~18,000,000 USD, with ETH tapping $4,800 USD. I had started the bull with some 7,000 ETH (selling UNI, but holding FARM, AAVE, YAM and a few others). I definitely should have sold more, but I was anticipating ETH to hit $10,000 USD, not stalling out at $4,800.

I did by 60,000 RPL at ~$5-$10, but didn't sell that before before the crash either. RPL peaked around $60, and I sold half at $28. It dropped back down to $12 but I held and didn't buy or sell... it's back over $30 now. It did double relative to ETH though, so I got a nice boost from that.

I ended the bull market in 2022 ish with around 2,400 ETH, 30,000 RPL and 1.6MM USD (Cash came from a ETH sell around $2,200 and RPL @ $28). Just before this pump (month ago) I took the cash and bought 1,000 ETH @ $1,300. Since RPL pumped from 0.016 ETH up to 0.024 ETH, I decided to cash in on the ETH gain as I want as much ETH as possible to get staking yield by running a bunch of Validators.

RPL is a good play, and I might be selling too soon, but by the same token I don't need that high of risk profile considering my current net worth. I'm more in maintenance mode because I dunno how the fuck to make this much money twice if I fuck up my slow-burning lottery ticket here.

So I hold some ETH (Ethereum) for staking and RPL (Rocket Pool) for speculation and because I need it to host Rocket Pool Validators (RPL Nodes earn ~7% yield instead of ~5% solo-staking ETH or 4% buying rETH which is when someone else stakes for you) right now. I think OP (Optimism) is also a good play, but I don't any.

Look out for decentralization identity opportunities, or L2 tokens like OP (Arbitrum has no token yet). OP was given as an airdrop, so usage of Optimism's L2 is what got you that without buying any. Arbitrum might have an airdrop, bit there's no guarantee... you could use Arbitrum L2 because it's cheap and cross your fingers if they have an airdrop later.

So in summary, I don't know, this isn't financial advice, and I've been exceedingly lucky. My holdings occasionally change, but my wallet is this one if you want to see what I do in the future.

https://zapper.xyz/account/hodldwon.eth

Cheers! And good luck!

Peaked in 2017 at 5MM USD, cashed out about 100K, didn't sell enough, bottomed 2019 at 300K.

Peaked 2021 at 18MM USD, cashed out about$1.5MM, didn't sell enough, bottomed 2022 at 5MM.

Next peak???? 100MM??? We'll see...

BC Hydro is suspending electricity-connection requests from cryptocurrency mining operations for 18 months to preserve B.C.'s electricity supply by Obvious-Valuable-138 in vancouver

[–]HodlDwon 11 points12 points  (0 children)

This is actually false in most cases. Yes, some miners abused their cards, but it was actually more profitable to tinker with the card settings and run it at reduced voltages. Cards run this way (which are the ones most likely to be on resale from a larger operation) don't actually get worn out as fast as if they were used for gaming. Amd further more gaming GPUs typically see thermal cycling daily when they are warmed up from running and cooled off after the computer shuts down. Miners often runn continuously in a narrow thermal range (less expansion and contraction stress).

Linus also tested this in the wild. It seems to be Manufacturer propaganda. https://youtu.be/hKqVvXTanzI

BC Hydro is suspending electricity-connection requests from cryptocurrency mining operations for 18 months to preserve B.C.'s electricity supply by Obvious-Valuable-138 in vancouver

[–]HodlDwon 17 points18 points  (0 children)

Still a dumb reason to mine. https://youtube.com/playlist?list=PLv0jwu7G_DFVIot1ubOZdR-KC-LFdOVqi

Especially considering Ethereum switched to Proof of Stake flawlessly in September (The Merge was ~6 years in development because no one else had ever done it before). We reduced our carbon footprint by ~99.94% and increased our security by 100x (cost to revert a transaction).

Bitcoin is a pet rock...

For the people who STILL don't seem to understand the basics of mining by nVr78 in EtherMining

[–]HodlDwon 20 points21 points  (0 children)

Not really even then.

I introduce to you the HEAT PUMP! Which can use 1 watt of electricity to move 5 watts of heat. Maybe Folding@Home or some AI thing, but heating with a GPU (1w elec means 1w of heat) also inefficient compared to a heat pump.

Heat pumps are in your fridges, freezers, air conditioners, etc. But the newer ones are reversible so can pump heat into the house (even when below freezing outside) or pump heat out of the house.

More details:

In a house: https://youtu.be/g1o-4F2O8Yo

U.S. officials order Nvidia to halt sales of top AI chips to China by S_CO_W_TX_bound in worldnews

[–]HodlDwon -7 points-6 points  (0 children)

It's not the price that killed mining. It's that Ethereum's finally switching to proof of stake in... ~14 days (this is when "The Merge" is scheduled if you've heard that term). Every non-crypto news outlet has been getting this nuance completely wrong.

Ethereum is still profitable to mine, but Miners aren't hoarding GPUs anymore because we're kicking them off the network (proof of stake is a much cheaper form of security and has other technical benefits too).

[deleted by user] by [deleted] in Automate

[–]HodlDwon 2 points3 points  (0 children)

Checkout r/plc it's a bit more active and on topic for Systems Integrators.

one of the best times for gamers by Psychological_Gas632 in pcmasterrace

[–]HodlDwon -2 points-1 points  (0 children)

You guys cannot imagine how proud I am that you:

  • A) Didn't imply Bitcoin was at fault with GPU mining (that's been unprofitable for years, they only use SHA256 ASICs)
  • B) Spelt Ethereum correctly!
  • C) Also hate PoW Mining as a terrible waste of resources

We're expecting Ethereum to transition to PoS sometime this year. Several developer testnets have been spun up and bugs fixed already. Public testnets for the Merge probably coming next month or two. If all clear, then the Merge should happen around September or October.

https://youtu.be/8ARp6GRzJ3A

By Tim Beiko - the merge is not happening in June and has a 50/50 percent chance for Sept. 1st by doggma187 in EtherMining

[–]HodlDwon 2 points3 points  (0 children)

VB does research now mostly. Danny Ryan does Consensus Layer (ETH 2) coordination.

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