What relevance does any of that have to the fake news pumped out daily by bbc.com and cnn.com ?
205 posts • joined 21 Sep 2007
Re: Explain what logic?
Where in my comment did you find the statement where I stated that I found "all cryptocurrencies are Ponzi schemes" in the article text?
If you're looking for evidence of the sentiment in the comments, you only have to scroll up about half a page to find "the entire crypto scam", "Ponzicryptoscam Coin", and numerous other references to the dubiety of crypto currencies.
Should you wish to travel further back in time, you wil indeed find that exact text posted elsewhere e.g. https://forums.theregister.com/forum/all/2022/03/02/bitconnect_ceo_disappears/#c_4421958
>"buying illegal drugs"
>"price in dollars is irrelevant"
Good luck with that, I hope it works out well for you.
"the hope that you can sell it to someone else for more than you paid for it"
You mean like all those fiat currencies on the Forex?
Strange how something with no apparent 'value' has been such a better investment than whatever fiat currency you choose to believe somehow has more 'value' over the past decade. I guess all those people who were buying BTC at sub $1000 must be very stupid. How silly must they look now that it's crashed to only $20k?
And the utility value of BTC comes in the form of the freedom to make mostly anonymous financial transactions.
Despite what you may tell yourself, the Jive bar from Aldi isn't really the same as a Twix, much in the same way that a mug coin such as Doge isn't the same as BTC. If you don't want to pay for a Twix, or a BTC, there are lots of other options, or buy none.
No-one is forcing you to buy anything. If you don't believe that the cost of acquiring BTC represents good value, then don't buy any. There's no shortage of other folks buying, just as my choice to buy a Twix instead of a Jive bar is unlikely to have much effect upon Aldis quarterly profits.
That said, costs are rising, and people are paying more, exactly because the production cost is now higher. Just a few years ago a bottle of Sunflower oil was about 65p in Tescos. It's £2.10 today. (Although that might just be a consequence of living with a weakened fiat currency) To say that people won't pay a higher price for BTC because of the higher production cost is just plain silly. It's by design of the coin that as scarcity increases, production costs increase, causing increase in value. Unless somone starts giving away free electricty and free RTX 3090s, there's no reason to believe that this trend will not continue, much the same as the lack of new houses being built in the UK, with an increasing population, means a major downturn in the housing market is also unlikely.
>You can create an infinite number of different crypto coins though
Much like how there is no limit to the number of fiat currencies, yes.
>there is no particular reason why you should prefer bitcoin over those other coins
Okay man, I hope your MoonHotButtDogCoin works out well for you, good luck.
>if the only thing underpinning the value is that someone else might want to buy it off you, that is not a genuine value
If anyone wants some, they don't have to buy it from anyone, they can simply pay thousands of pounds for hardware, electricity, rent of a nice temperature controlled environment etc. The value, from either mining it, or purchasing, is determined by the cost to produce it in the first place, as it is with everything from houses to chocolate bars.
Thing is, the government makes no guarantee of the value of it's own currency either.
The value of my BTC is backed by the fact that if someone else wants to get some, they can either spend thousands of pounds on mining equipment, or they can buy BTC from someone else. i.e the financial barrier, which derives from the scarcity of BTC, provides security for the value of BTC.
Unlike GBP, there is a limit to the number of BTC which can ever be in existence. The government wants more GBP? Just print some! Oh dear! What do you mean my currency has been devalued?
Can't happen to BTC.
What's that? The governments new digital cryptocurrency wallet has refused your transaction because you hold the wrong political opinion?
Can't happen to BTC.
Now what's this? Millions of people have realise that their fiat currency is worthless and are trying to withdraw their own money from their own bank account at the same time, but the bank won't let them?
Guess what makes that scenario irrelevant? Tht's spot on, it's good ol' BTC once more.
As far as I can see, there's zero incentive, or benefit to be gained from, the use of fiat currency. In terms of utility, your local HMRC office will be as amenable to accepting £20 notes to pay your tax bill than they would be at accepting BTC to pay it.
>"The value of fiat currencies is anchored by monetary policy and their status as legal tender"
>"the value of cryptocurrencies rests solely on the speculations and expectations of high returns"
Really? So who is giving away all these free cryptocurrencies? Last time I chekced, the cost of the hardware and of the electricity required to produce them wasn't free, and it is from this that their cost, and value, derives.
Re: Solution in search of a problem
>"only purpose is money laundering for ransomware and thieves."
Or providing a store of funds for those women who live in countries where they aren't allowed bank accounts, or people living with a domestic abuser who can't open up a separate bank account to gather funds to escape, or people living in circumstances where they cannot recieve money by other means to help them survive. But like you said, these people can just
>"fuck right off"
because, hey, what do they matter?
Will these companies be taking responsability for any adverse effects suffered by employees? Given that they know that some people will suffer tremendous injury as a consequence of taking this experminental vaccine, to what extent should criminal prosecution of board members be considered?
Civil-rights probe: Facebook has completely failed to… Zuck: Look over here! We’ve banned four groups! Go me!
UK snubs Apple-Google coronavirus app API, insists on British control of data, promises to protect privacy
Marriott Hotels hacked AGAIN: Two compromised employee logins abused to siphon off 5.2m guests' personal info
US prez Donald Trump declares America closed to those flying in from Schengen zone over coronavirus woes
GitLab can proclaim diversity all it likes, but it seems to have a real problem keeping women on staff or in management
Hey GitLab, the 1970s called and want their sexism back: Saleswomen told to wear short skirts, heels and 'step it up'
Boris celebrates taking back control of Brexit Britain's immigration – with unlimited immigration program
Re: "UK’s departure from the UK"
The majority of Scots voted in favour of independence at the last referendum.
The vote was only won because the vast majority of English people living in Scotland voted for Scotland to remain as part of the UK.
If the vote was restricted to Scottish people, Scotland would have already left the UK.
Source : Scottish Referendum Study by the University of Edinburgh.
Unlocking news: We decrypt those cryptic headlines about Scottish cops bypassing smartphone encryption
This is also a system for GPs, right? UK doctors seek clarity over Health dept's £40m single sign-on funding
Re: what is a GP?
>In Scotland its possible to get an appointment within a few days
Not in North Glasgow it's not. My own experience:
>Hello, can I have an appointment please?
>I'm afraid there's none left
>Can you put me on the waiting list please?
>We only run a waiting list for 4 weeks, and it's full.
>So there is no way for me to get an appointment?
>Try calling tomorrow.
Repeat x forever.
Tabletop battle-toys purveyor Games Workshop again warns of risks in Microsoft Dynamics 365 ERP project
Why is a 22GB database containing 56 million US folks' personal details sitting on the open internet using a Chinese IP address? Seriously, why?
> it is responsible for the result.
Personally, I would be of the opinion that it more likely the consequence of the choices made by individuals, with women being more inclined to hold low pressure roles which pay less money.
There is very likely 0% pay gap between people doing the same work with the same output in terms of productivity.