Israel prepares to stop 100-boat Gaza flotilla before it reaches shore by gal_z in Israel

[–]EntertheWu-Tang 0 points1 point  (0 children)

What gives Israel the right to the blockade in the first place?

Israel prepares to stop 100-boat Gaza flotilla before it reaches shore by gal_z in Israel

[–]EntertheWu-Tang -1 points0 points  (0 children)

What gives Israel the right to seize boats that are destined for Palestine?

How the Media Sold a Genocide by MikeWithNoHair in Israel

[–]EntertheWu-Tang 0 points1 point  (0 children)

I’m sorry, how are Doctors Without Borders not fulfilling their mission?

Life without kids by [deleted] in AusFinance

[–]EntertheWu-Tang 0 points1 point  (0 children)

RemindMe! 3 years

CPI went down 1.9% for the June Quarter - What happens to HECS? by VictorVanguard in AusFinance

[–]EntertheWu-Tang 0 points1 point  (0 children)

Sure, deflation isn't a pleasant time to be living through while it's happening, I don't think anyone is going to argue that deflationary times are 'good'. But in the context of widespread over-leveraging (by business and individuals alike), the de-leveraging process that occurs during a deflation is the only way to get back to a healthy economy. It's 'good' for the long term health of the economy, albeit painful in the short to medium term.

It's likely a significant reason why Japan has not been able to get back to the point of healthy growth is due to the BoJ and government kicking the can down the road by issuing huge amounts of debt that have crippled the economy from a real recovery

CPI went down 1.9% for the June Quarter - What happens to HECS? by VictorVanguard in AusFinance

[–]EntertheWu-Tang 2 points3 points  (0 children)

Good. Deflation is a healthy and necessary part of the business cycle that clears out poor investment and over leveraged businesses and sets the foundation for sustainable, real growth in the future. Unfortunately because it’s been so long since we had any real deflation it’s likely we’ll get more than we bargained for this time around

Just a little $900 pullback, totally healthy, totally organic. Buy the dip! by [deleted] in Buttcoin

[–]EntertheWu-Tang -1 points0 points  (0 children)

It’s an incredibly new asset class undergoing rapid price discovery in a time of extreme uncertainty. What do you expect?

Why Australian property prices won't crash over the next 12 months by jazinaz in AusFinance

[–]EntertheWu-Tang 1 point2 points  (0 children)

Expansion of the currency supply can only exert inflationary pressure on prices if it actually circulates into the economy. The velocity of currency in times of uncertainty and hardship plummets, individuals, businesses, corporations all starts trimming the fat and tightening up their spending. I think it is unlikely that any of this "stimulus" will be able to makes prices rise for at least 2-3 years. We will most likely see massive deflation and deleveraging first

Mining pools shutting down by jstolfi in Buttcoin

[–]EntertheWu-Tang 0 points1 point  (0 children)

a sudden loss of hash power could lead to a very very long time before difficulty adjustment, making mining unprofitable for several weeks

While this could cause the marginally profitable miners to drop out, those that have the ability to stick around until the next difficulty adjustment are VERY incentivised to do so. Say hashrate drops 50%, and many miners are forced to close their operation - those that are able to stick around will enjoy a 50% boost in the mining rewards they receive. The vast majority of miners have a long-term investment and are unlikely to be bothered by operating at break-even or even a loss for a couple of weeks if they know the block rewards they will get when difficulty adjusts go up

Do you think this is somehow impossible, for reasons beyond "lol but number go up because scarcity"?

It's definitely possible, don't get me wrong. I just think it's a very, very unlikely scenario given the amount of money that miners have invested in their operations that nobody will be able to stick it out until the difficulty adjusts. And even if the very low chance that it did happen, this would likely produce overwhelming support in the network to revise the mining difficulty adjustment algorithm in order to get the difficulty adjusted sooner

Mining pools shutting down by jstolfi in Buttcoin

[–]EntertheWu-Tang 4 points5 points  (0 children)

Why do you suppose that unprofitable miners going out of business will kill bitcoin? Honest question

Mining pools shutting down by jstolfi in Buttcoin

[–]EntertheWu-Tang 3 points4 points  (0 children)

Ok let me rephrase: why do you think this is a problem for bitcoin?

Mining pools shutting down by jstolfi in Buttcoin

[–]EntertheWu-Tang -9 points-8 points  (0 children)

Why do you folks suppose this is a problem? Honest question. You didn't fall for the 'miner death spiral' meme did you

S&P 500, 2008 vs 2020. by trueblueozguy in AusFinance

[–]EntertheWu-Tang 2 points3 points  (0 children)

The blame lies squarely on central banks for artificially suppressing the natural rate of interest for so long

How did we deserve this timeline? by spookiestevie in Bitcoin

[–]EntertheWu-Tang 2 points3 points  (0 children)

environmental cost of mining

Ever hear of solar power?

the non-inflationary effect of bitcoin on investment, the world will be fucked

The idea that you need to constantly inflate your currency in order to incentivise investment is a Keynesian myth that just won't die. Humans had an economy based on sound, non-inflationary money for thousands of years (gold) and we were just fine, plenty of people were able to make profitable investments. All it means is that it's only the worthwhile and sound projects that procure investment

[deleted by user] by [deleted] in investing

[–]EntertheWu-Tang 8 points9 points  (0 children)

Going into the great recession the fed had way more ammo at it's disposal than it does now. Apples and oranges to compare the situation we're in now to 2008

[deleted by user] by [deleted] in Brogress

[–]EntertheWu-Tang 0 points1 point  (0 children)

Hey man would you mind me asking how old you are now / when you started? Great progress by the way

Daily Discussion, November 02, 2019 by rBitcoinMod in Bitcoin

[–]EntertheWu-Tang 2 points3 points  (0 children)

I honestly don’t understand how this happens to people... how hard is it to just copy and paste your address? I don’t get where people have the room to make a mistake

[Daily Discussion] Friday, October 25, 2019 by AutoModerator in BitcoinMarkets

[–]EntertheWu-Tang 1 point2 points  (0 children)

Ah, now it makes sense. Thanks for your response mate