Re: I wonder....
> If Amazon prices have to go up, then good, because they are artificially low right now.
Found the central planner?
31 posts • joined 12 Sep 2014
I own bitcoins and I want them to go up in value. However, I tell people NOT to invest in it as it is an extremely risky and volatile asset. I would very much prefer the value of bitcoin to rise due to its increased use in commerce. This is low risk because a seller can accept bitcoins and immediately convert them into fiat. In other words, it is better to increase the value of money by increasing its velocity (which is what happens when people spend bitcoin) rather than decreasing the amount in circulation (which is what happens when people hoard bitcoins).
> ... if mining asteroids can be done economically at all
I don't think the bulk of the minerals will be shipped to the earth. Sure, if there are rare materials like platinum maybe, but I think the killer app for asteroid mining will be as supply stations for space missions. Comets with their ice would be more useful as fuel, but rocky asteroids could also be used as dead mass for magnetic/ionic propulsion, gravity assist sacrificial mass etc.
You cannot count investments as "money the UK gets back from the EU," unless those are funds coming directly out of the EU budget. Investments by private corporations may benefit from EU membership, but are not a direct result of it.
A lot of foreign investments in developed countries come from other countries. That is a benefit of free trade (eg EFTA/WTO, bilateral agreements) rather than any transnational government.
It seems to me (or maybe I just wasn't paying attention during ECON 101) that all things being equal, increasing demand should increase prices, not decrease them.
I suspect that prices are falling because technology is improving, more producers are jumping in, and economies of scale are kicking in. Or maybe even that the LED bulbs subsidized by the Indian government are finding their way back into the market and competing with non-subsidized sales.
Banks (as well as individuals) will only hold bitcoins if they think those bitcoins are valuable, and are likely to be even more valuable in the future.
Bitcoins exist only as entries on a globally distributed ledger (the blockchain), backed only by the willingness of the network to maintain the integrity of said ledger. They have no "intrinsic" value. The only reason the network is willing to spend resources to maintain the blockchain is because bitcoin users accept bitcoin in exchange for goods and services. These users do so because they have confidence in the decentralized, peer-to-peer, permissionless, uncounterfeitable, irreversible, near-instant, nearly free transactions that the blockchain enables.
So, if bitcoin were ever to become unusable, it will lose value by that very fact. Even if we were to accept your premise that hoarding makes bitcoin unusable (it doesn't), then the hoarders will sell as bitcoin loses value, and there will be more in circulation again, and it will be valuable again.
I think the mechanism for extending and locking the legs is complicated, and could be replaced with a ground-based capture mechanism. A fighter plane landing on a carrier relies on a hook and wire, and it's travelling a lot faster (vertically as well as horizontally) than this rocket. Why doesn't Space-X use a set of robotic arms on movable platforms that surround the landing point? As the rocket nears the ground and slows its descent, these platforms could approach it from all sides, with a series of arms extended, and gently stabilize the rocket as it touches down and cuts its engines.
Even a set of cables could be used, parallel to the ground, at different heights and different angles relative to each other, closing in on the rocket so that it cannot fall over after landing.
> How much use is Bitcoin getting for purposes other than ransomware and drug deals?
It's hard to estimate, given the pseudonymous nature of bitcoins. We know the addresses that the coins are flowing through, but in most cases we don't know who those addresses belong to.
Having said that, I personally pay for home-delivered food using bitcoins on lieferservice.ch and have used bitcoins to pay for coffee and computers.
If the regulations pertaining to what's a taxi dispatch service and what's not goes too far, the market will evolve a completely decentralized peer-to-peer matching service similar to OpenBazaar.
Alternatively, uber will be replaced by a craigslist-like listing service with free-speech safe harbor protections, and a paypal-like payment processing system, both with APIs that allow an umbrella app that can make the end result look exactly like the uber app frrom the users' perspective.
More and more people every day. With Greece about to get Cyprussed, cash being made illegal in France and increasingly in the US, bitcoin is looking like a better choice. Even NASDAQ has said that they are looking into using bitcoin for recording securities transactions on bitcoin's instant, open, peer-to-peer trustless ledger (the blockchain).
You need to verify that you can restore from backups when the need arises. Before you have accumulated any critical data (or on an identical test-only platform), induce a hard crash by wiping or removing the drive, then make sure that you can restore it from backups.
Without this, backups are useless.
It's a bad idea to use one of these cards by itself for storage. If it becomes corrupted, you lose a whole bunch of data at once. I wonder why most cameras don't support dual mirrored card slots. If your use case depends on a high end camera and a big SD card, surely you need live data replication as well.
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