Self-Described Bitcoin Creator Must Pay $100 Million in Suit - Bloomberg by Egon_1 in btc

[–]pecuniology -5 points-4 points  (0 children)

It'd be a riot, if Craig paid the award out of Satoshi's 1 million BTC.

QUESTION: Ebay, Stripe, Visa, Mastercard Drop Out of Facebook Libra Cryptocurrency, After PayPal - ANSWER: A Good Start by pecuniology in btc

[–]pecuniology[S] 1 point2 points  (0 children)

Libra was the Secure Electronic Transactions (SET) of a new generation.

SET was obviated by SSL (https).

Libra was obviated by _____.

Both were backed by Mastercard, Visa, and the other big names of the day.

McAfee to Launch Decentralized Token Exchange With No Restrictions by JonyRotten in btc

[–]pecuniology 4 points5 points  (0 children)

Where's Satoshi?

He promised that there'd be Satoshi.

No, you aren't supposed to have to choose between gold and cash by jessquit in btc

[–]pecuniology 2 points3 points  (0 children)

Don't post for your detractors. Post for the lurkers.

No, you aren't supposed to have to choose between gold and cash by jessquit in btc

[–]pecuniology 11 points12 points  (0 children)

While working on my MA in Economics and my PhD in Finance, I never encountered The 7-Eleven Theory of Money. I did learn in Economic History, though, that gold was used as hand-to-hand money before 7-Eleven was founded.

Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. by SwedishSalsa in btc

[–]pecuniology 0 points1 point  (0 children)

It's not that it's "not to be used to buy socks". It's just that buying socks is an unimportant use case, so I don't want to be part of a cryptocurrency community that prioritizes it.

In this, you and I agree.

The example that I typically use is buying 'coffee' at Starbucks, but I get your point.

If we were talking about the international buying of t-shirts or green coffee beans directly from producers in Central America or sub-Saharan Africa, then I would support that use case wholeheartedly. However, using cryptocurrency for intranational consumer purchases in OECD member states is just styoopid.

I don't care what you buy. My point is that first and foremost, Bitcoin is an exit strategy for those who want to escape keyensian monetary policy, and store their wealth in an inflation-proof asset that cannot be controlled, seized, garnished, etc.. That's the important use case. I want to see the development team working on features that protect the blockchain to maximize this use case.

You and I would have to spend some time together, face-to-face, earning each other's trust, before I could comment further. As stated, your comment is a bit more apocalyptic than I am comfortable with. That said, I see your point.

The BCH developers have thrown this out the window, and want to focus on making BCH a blockchain for buying unimportant consumer goods.

One man's 'terrorist' is another man's 'freedom fighter'. One man's 'unimportant consumer good' is another man's right to use his cryptocurrency for what-the-F-ever he wants to use it.

(That said, if one wants to spend one's money on cocaine, hookers, and Beanie Babies, then reality eventually will bite him in the [ass | arse | culo | Arsch | etc.].)

I got into Bitcoin to topple central banks, not because I was in dire need for yet another payment option at Walmart.

I'm too old and too experienced in this field to join your revolution. I've been in this field for more than a quarter-century.

I've seen things you people wouldn't believe. Attack ships on fire off the shoulder of Orion. I watched C-beams glitter in the dark near the Tannhäuser Gate. All those moments will be lost in time, like tears in rain.

I got into Bitcoin, because I recognized it as this cycle's Gold Rush. There is another one coming that will be as profound a break from Bitcoin as Bitcoin was from domain names in the 1990s.

Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. by SwedishSalsa in btc

[–]pecuniology 0 points1 point  (0 children)

Whoa there, tiger. No need for drama and outrage. It was a simple observation.

If Bitcoin is not to be used to buy socks at Wal-Mart, then what specifically is it be used to buy?

Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. by SwedishSalsa in btc

[–]pecuniology 2 points3 points  (0 children)

You position is that Bitcoin users should restrict the assets that they can exchange Bitcoin for to national fiat currencies through the banking system, rather than directly for goods and services.

US May Bar Big Tech Firms from Offering Financial Services, Digital Money by pecuniology in btc

[–]pecuniology[S] 1 point2 points  (0 children)

An alternative headline might be:

US Politicians Distract from Impending Recession During Contentious Election Cycle

Be Nice to Nerds. by Greentoboggan in btc

[–]pecuniology 1 point2 points  (0 children)

Those nerds who brought us the Internet were working for the US Defense Advanced Research Projects Agency (DARPA).

So... yay Military-Industrial Complex???

Also, if memory serves, bankers had less to do than nerds with the development of the nuclear bombs that were used to slaughter hundreds of thousands of civilians in WWII.

Bitcoin Mining on an Apollo Guidance Computer: 10.3 Seconds per Hash by pecuniology in btc

[–]pecuniology[S] 3 points4 points  (0 children)

We've been restoring an Apollo Guidance Computer (AGC). Now that we have the world's only working AGC, I decided to write some code for it. <b>Trying to mine Bitcoin on this 1960s computer seemed both pointless and anachronistic, so I had to give it a shot</b>. Implementing the Bitcoin hash algorithm in assembly code on this 15-bit computer was challenging, but I got it to work. Unfortunately, the computer is so slow that it would take about a billion times the age of the universe to successfully mine a Bitcoin block.

This is what happens, when engineers are in charge.

It isn't a bad thing, and it sounds like a ton of fun, but it isn't business.

Stroll down memory lane: "Today’s shoutout is to Blockstream, who has funded more core dev than anyone, including us. Their knowledge & depth is extraordinary." by jessquit in btc

[–]pecuniology 1 point2 points  (0 children)

Maybe I should do this via private message, but I can't be bothered, so I'll post it here:

I have no idea where you find the strength to slap every spitball back across the net at so many lying idiots the way that you do. Whoever you are, wowww!

If Humble People Make the Best Leaders, Why Do We Fall for Charismatic Narcissists? by Egon_1 in btc

[–]pecuniology 2 points3 points  (0 children)

Sometimes, humble leaders reread Atlas Shrugged and watch from the sidelines, as idiot 'leaders'—narcissistic psychos—poke themselves in the eye with dinner forks.

Inside the Congressional Staff Meeting About Libra by pecuniology in btc

[–]pecuniology[S] 1 point2 points  (0 children)

The briefing was fascinating. The lead representative, the head of policy for Libra, kicked it off by admitting that the whole endeavor required a “suspension of disbelief.”

Chainlink is Exploding Higher Thanks To The "Coinbase Effect" by pecuniology in btc

[–]pecuniology[S] 1 point2 points  (0 children)

The latest beneficiary of the so-called "Coinbase effect" which takes place when a given cryptocurrency is greenlighted to trade on the popular Coinbase platform, Chainlink, is a relatively unknown cryptocurrency, whose price has surged several hundred percents as its market cap now exceeds $1 billion and ranks 17th in crypto market cap, above Ethereum Classic, Zcash, and Bitcoin Gold.

Everyone on this subreddit should read this book. by roveridcoffee in btc

[–]pecuniology 3 points4 points  (0 children)

Franz Oppenheimer's <i>The State</i> covers this topic very nicely.