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Company Purchases 10,000 Bitcoin Miners, Machines Will Max Out 100
Megawatt Facility
It's kind of funny that they've put together this massive compute farm to generate a piece of data that only has value because someone says it does (which is essentially the very definition of a fiat currency) ... and they don't feel the need to defend this fact, the only thing they're defending is that they're working hard to power the data center with renewable energy.
Didn't the government originally try to snuff out Bitcoin using existing counterfeiting laws? What ever became of that?
While possible its doubtful. You dont store any 'keys' on those devices. Just a destination wallet address. Without a key, you cant get anything back out. Worst case they could steal a bit a mining power, but you would see that in your network traffic.
Besides, no one leaves their coins in the same wallet they mine into if they have any brains.
Thu Dec 10 2020 14:45:19 EST from zooerThose are Chinese made mining computers. Could the Chinese have a backdoor built into the hardware so that the Chinese can grab all the coins when they are ready to?
I think it was more the angle of "we cant track/tax it so its only use is to launder money", not counterfeit. Ironically, its brain dead easy to track transactions as that is the entire point of the block chain. But they figure if you feed FUD to citizens enough: "Remember its for the children"
They gave up banning it, now they are working to regulate it, at the point if entry/exit into fiat. ( the exchanges )
Sat Dec 12 2020 16:28:47 ESTfrom IGnatius T Foobar
Didn't the government originally try to snuff out Bitcoin using existing counterfeiting laws? What ever became of that?
xrp, not so much :)
Thu Jan 07 2021 12:30:55 EST from zooerBitcoin has doubled its previous all-time high. Most Cyrptos are doing well.
A friend has been advocating for ZCash. Here's part of his spiel.
II. ZCash, why? [this is more general cryptocurrency stuff]
Prices go up every year. It's like clockwork. In the course of our lifetimes we have seen the cost of goods rise.
It's not just the price. Little ripoffs are hidden in everything. Packaging gets smaller. Taxes are raised. Quality drops. If you're really unlucky, businesses in your area have maintained a flat level of output, but reported "shareholder equity growth" by reducing the number of jobs offered.
You don't need to be political to look at the facts. Every government prints money from thin air. This is not the only reason for the steady decline in quality of life, but it is a big one. Americans now have 20% more dollars circulating in the economy. What will this do to prices in the future?
Even if you're making it in this economy, each of your transactions is recorded by your bank. Additionally, most of your transactions are documented by a vendor. You are constantly being profiled, screened, examined, and evaluated for each of your purchases. The practice of normal untraceable cash purchases has been supplanted by a digital economy where liquid fiat is monitored with each movement.
We've seen a lot of security disasters in this decade. A quick visit to haveibeenpwned.com exposes a staggering volume of commercial errors that leave customers with no restitution. Public relations has moved the 2015 Experian Hack to the forefront of human consciousness, concealing the larger 2017 Equifax hack. The US Treasury was just hacked, and we're in a position of expecting an inconclusive investigation.
When our medical histories, sexual preferences, policital leanings, estate plans, and credit history are broadcast to the world's merchants, do we have any reason to believe they will help society invest in cybersecurity? Or will they just take the opportunity to pad their extensive profiles of us?
Personally, for true anonymity i stick with XMR. its more established than Zcash i do believe.
But its a preference. There are far too many competing coins out there now. Fractured markets, and speculators have ruined many of them. Now they are no longer useful for their true intent of 'secure digital micro-payments'.
And right on time. Cant allow an underground economy where citizens can freely buy and sell product without government oversight. "terrorism". the modern "its for the children" surprised they didnt toss in trump and maga too. I expect within 3 years to see 'fiat currency' phased out in favor of a government blessed coin, with your wallet tied to your federal serial number ( you know, your SSN, which was promised to never be used for identification ). They already started the ball rolling last summer, by creating the fake coin shortage, "sorry, we only accept cards as we cant make change". Get people used to it. ( and yes i know technically you dont buy/sell with crypto and its still bartering, since its not 'money', unless a government blesses it )
What we need is an actual nuclear war that throws us back into the Middle Ages - so we can start again and try and get it right this time.
Thu Jan 21 2021 08:19:08 EST from Nurb432And right on time. Cant allow an underground economy where citizens can freely buy and sell product without government oversight. "terrorism". the modern "its for the children" surprised they didnt toss in trump and maga too. I expect within 3 years to see 'fiat currency' phased out in favor of a government blessed coin, with your wallet tied to your federal serial number ( you know, your SSN, which was promised to never be used for identification ). They already started the ball rolling last summer, by creating the fake coin shortage, "sorry, we only accept cards as we cant make change". Get people used to it. ( and yes i know technically you dont buy/sell with crypto and its still bartering, since its not 'money', unless a government blesses it )
Of course we wont. We are doomed to keep cycling around the drain until we vanish totally from the planet.
Perhaps covid is finally it. After a few more years of adaptation.
Thu Jan 21 2021 10:32:07 EST from ParanoidDelusionsWhat we need is an actual nuclear war that throws us back into the Middle Ages - so we can start again and try and get it right this time.
My latest blog, influenced by this post:
http://donovancolbert.blogspot.com/2021/01/bitcoin-cryptocurrency-liberty-and.html
I'm pinning my hopes on massive solar storms and flares wiping out the entire grid and sending us back to ledgers and slide-rules.
Thu Jan 21 2021 13:32:08 EST from zooerJust one large undetected meteorite hitting the Yellowstone National Park is all I ask for.
I know its just a movie, but sort of how the end of Transcendence was. ( or beginning .. since it was a 'how did we get here' kind of show )
Cant clean it, burn it all down.
Yeah - it just seems like we may be too far gone to salvage this attempt, and we need a do over.
Thu Jan 21 2021 19:16:56 EST from Nurb432I know its just a movie, but sort of how the end of Transcendence was. ( or beginning .. since it was a 'how did we get here' kind of show )
Cant clean it, burn it all down.
Just not the 'great reset' the far left is talking about. That not a reset, its a power/wealth grab.
A societal reboot.
Thu Jan 21 2021 21:34:44 EST from ParanoidDelusionsYeah - it just seems like we may be too far gone to salvage this attempt, and we need a do over.
Thu Jan 21 2021 19:16:56 EST from Nurb432I know its just a movie, but sort of how the end of Transcendence was. ( or beginning .. since it was a 'how did we get here' kind of show )
Cant clean it, burn it all down.
Oh, a great reset like I am talking about will redistribute the wealth, too. In fact, it might consolidate it far more narrowly than it is distributed today. There will be the absolute wealth and the destitute masses that serve them after the reset.
But, maybe we need to re-experience feudal society again to remember how good we had it.
Wed Jan 27 2021 06:20:53 EST from Nurb432Just not the 'great reset' the far left is talking about. That not a reset, its a power/wealth grab.
A societal reboot.
Thu Jan 21 2021 21:34:44 EST from ParanoidDelusionsYeah - it just seems like we may be too far gone to salvage this attempt, and we need a do over.
Thu Jan 21 2021 19:16:56 EST from Nurb432I know its just a movie, but sort of how the end of Transcendence was. ( or beginning .. since it was a 'how did we get here' kind of show )
Cant clean it, burn it all down.
The wealth isn't going to be redistributed.
The top ten wealthiest Americans, the top wealthiest people in the world are not going to give up their wealth, they will just make sure the upper middle class don't get any higher than that.
Yellowstone erupting will redistribute the global wealth.
We're talking about an ACTUAL reset. Not a course correction.
Wed Jan 27 2021 13:09:17 EST from zooerThe wealth isn't going to be redistributed.
The top ten wealthiest Americans, the top wealthiest people in the world are not going to give up their wealth, they will just make sure the upper middle class don't get any higher than that.