NY power plant cuts out the middleman by mining its own Bitcoin, at a rate of $50K per day

[Porkous]

to assume a billion would induce a fee. Banks like to have money, just by having your money they make money. They don't need to charge you to do that, especially if there is a lot of it.

I am so glad someone with pragmatic thinking intervened into this financial discussion.

This is why I was quick to respond with little effort to this thread; Actually the fees in crypto are huge. First off, there is the maker/taker fees (0.25% + 0.25%) alone on the crypto exchange. Then is the price of the asset that is volatile at that moment, as algorithm bots push the price in their favor, and there are bluff buy/sell in the order-book with sometime thin liquidity. Then there is the "how you get out of the crypto, or into crypto" type of fees.

That is is why I said before:
"Stuffs that seems to be parroted all the time; throwing the fizzling hot potato to the next person, and so on. "

People talk about things, but aren't doing in particular that thing they are talking about, they are just confident about it, for a reason or other.

 

[Karlos95]

Furthermore, gold itself had no value. What's it the Mayans used coca beans. Which is actually something useful. Much like the show the Mandalorian. One type of currency they had can be used to make armor n such. So what could we use medicine? Recreational drugs? Rare metals? The downside is that the valuable resource is not being used. However that gives us a cache of that resource. Cocoa beans, again was a great idea, because it's what I would deem entertainment. An entertainment, luxury item is probably the best way to go.

Thinking about it, assuming the government should control currency in itself is nutty. They don't need that much power. When the **** hits the fan paper or an entertainment item is useless. Sadly bullets might actually not be as crazy as it sounds. Not to say oh .22, how about a huge cache of amno to back our paper\bank transfers instead of something I'm not sure has to much value real value now, gold.

Why? Say the recession in 08 as an example. Nothing tangible or useful was actually lost. Just our imaginary economy. There were no floods, no earth quakes, no virus slowing production. Our man power was not down. Usefull items did not get destroyed. People lost their jobs etc, despite loss of paper, that has no real value.

I've said for awhile maybe newtons should backup currency. (work). Bitcoin at least has processing power to back it up. But it really like a waste of resources? The average person doesn't care if their money is anom. The only value crypto seems to offer.

Instead of arguing over minor details of a completely insane system. Perhaps fixing what our currency actually is .... oh yeah that might result in a global min wage and an equal playing field. Something that might happen in the future when we get to a kind of pretopia.

p.s. makes you rethink the value of the USA military, perhaps military force would be the best backer of currency. Akin to processing power(for lack of better word) of bitcoin. It's easier to quantify it with amno. Amno being the backer, not the actual exchange unit.

If I had to guess the AK-47 amno would be ideal if lord of war has it's facts straight, pretty much what's still used around the world and has been for the last almost century.

What is ludicrous, people lobbied to keep military spending up probably don't even realize this. But someone does. So yes go ahead and fight over monopoly money ideals ^^

If you want a true example of what I am getting at watch Oliver Stones untold history. They plainly explain why we waited to get into ww2 for so long. It's not any kind of conspiracy, we wanted to take over the worlds economy. The best way to do that was to let everyone else waste their military might. It was plainly spoken by our president at the time.


p.s.s. yes I know I contradicted myself but came to a conclusion, thinking ftw

don't mind me I just deliver pizzas

Basically what is wrong with society is the people at the top making stupid decisions and taking home a ludicrous pay for it. CEOs prime example, world leaders the other.

 

[Karlos95]

I am so glad someone with pragmatic thinking intervened into this financial discussion.

This is why I was quick to respond with little effort to this thread; Actually the fees in crypto are huge. First off, there is the maker/taker fees (0.25% + 0.25%) alone on the crypto exchange. Then is the price of the asset that is volatile at that moment, as algorithm bots push the price in their favor, and there are bluff buy/sell in the order-book with sometime thin liquidity. Then there is the "how you get out of the crypto, or into crypto" type of fees.

That is is why I said before:
"Stuffs that seems to be parroted all the time; throwing the fizzling hot potato to the next person, and so on. "

People talk about things, but aren't doing in particular that thing they are talking about, they are just confident about it, for a reason or other.

Lol, you are talking an exchange. Seems you have no idea what you are talking about.

Of course an exchange will charge, just like buying stocks. The broker always makes money. But if you are sending it to someone there is no fees or very little depending on how much is being sent.

A great example of "People talk about things, but aren't doing in particular that thing they are talking about, they are just confident about it, for a reason or other."

 

[Porkous]

Lol, you are talking an exchange. Seems you have no idea what you are talking about.

Of course an exchange will charge, just like buying stocks. The broker always makes money. But if you are sending it to someone there is no fees or very little depending on how much is being sent.

A great example of "People talk about things, but aren't doing in particular that thing they are talking about, they are just confident about it, for a reason or other."

Was the idea instilled by the big whales, who also own 93% of the network afaik? https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html (majority owns below 0.01 - 0.1)