iexplainbtc

Joined 5 years ago

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Feb 10

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What I meant is that it's not a hassle free process. You'll be reported to the IRS (or equivalent) and even be asked to bring an "approved intermediary" in some EU countries. I wish I was making this up.

Comment · 5 years ago

Hard and soft real time depend entirely on the context. An example of hard real time is flight control. The whole sensor - actuator - decision process must happen within the given threshold.

Comment · 5 years ago

You can't go to a bank, ask them to give you all your money in cash and hide it under a mattress (not in most countries at least).

You can go to Coinbase and simply transfer all your funds to your own wallet in a matter of seconds.

Comment · 5 years ago

I don't understand all this confusion about what RT means, this is the definition of a RT system. If you can't complete the computation within the given deadline whatever partial result is discarded and the computation starts from scratch.

Decoding video and interactive rendering is a great example of an RT system. If you can't construct a frame within (usually) 16 ms you skip it and start with the next one.

Comment · 5 years ago

These live streams are anxiety inducing for us, I can only imagine how they must feel!

Comment · 5 years ago

That live stream was epic! It was great to see them so happy :)

Comment · 5 years ago

Proof of work was not invented (or envisioned to be used with digital currencies) by Satoshi. It's been around since 1993. I can't really find a reference to prove what I claimed so I would agree I might have been misled to think that. But the truth is that it doesn't matter whether it was taken into account or not, what matters is that you can mine Bitcoin (or do any PoW) using untapped renewable resources (which is why big mining operations are based in places with abundant geothermal/hydropower and very little, if any, population) but you wouldn't be able to do much else in those places.

Comment · 5 years ago

The environmental impact of "Proof of Work" could have been a problem but the inventors did think about that and realized that mining can be done pretty much anywhere, using renewable resources that would otherwise be untapped. As usual the ethical burden should be on the user of the tool, not the tool itself.

In the long run miners who do not use untapped (cheaper) renewables are going to be priced out, it just takes some time. That said other protocols much less computationally intensive, such as "Proof of Stake", are starting to be tested.

Anyhow, good idea NVIDIA!

Comment · 5 years ago

> How's GME performed as a store of value since WSB pumped? It's just as scarce as it was 10 days ago, but apparently not guaranteed to go up after all...

I was simply responding to what you said earlier:

> The same does not apply to Bitcoins, because unlike Bitcoins, people hold necklaces for the intrinsic pleasure of having a shiny necklace.

It does, instead, apply.

Comment · 5 years ago

Again, I apologize. It was a knee jerk reaction to being told I don't understand something without proof. I believe that also violates numerous guidelines:

> Be kind. Don't be snarky.

> Please don't post shallow dismissals, especially of other people's work. A good critical comment teaches us something.

And I disagree with:

> You've crossed noticeably into that here [emphasis mine]

I've only done that in 2 comments towards the same user who also behaved similarly towards me. All my other comments have been polite, constructive and filled with references.

Comment · 5 years ago

Apologies @maclured. Thank you @dang!

Comment · 5 years ago

[flagged]

Comment · 5 years ago

You fail to understand 3 things:

1. There is no such thing as "intrinsic value" and I explained clearly why in a different reply to your comment.

2. What goes up is the value of land, not houses. If houses themselves were valuable movable homes would also increase in value. They don't. The reason why land goes up in value is that (residential) land is scarce.

3. Gold isn't a safe haven because of its track record (in fact gold is relatively volatile [0] and if you had bought gold in 1980 you'd have lost money today, adjusted to inflation), it's considered a safe haven because it's the only commodity that has a historically predictable stock to flow and can (and normally does) act as a hedge against inflation. Bitcoin does that and more.

> It's an early-stage speculative asset IMO

So was gold in its early stages as a store of value. So is any valuable company's stock in the first few months after IPO. Speculation is uncorrelated with the lack of fundamental valuable features.

At this point I'm not sure your intent is to try to understand more about Bitcoin (or economy, for that matter) but rather to force a narrative that isn't at all obvious, unlike what you're trying to imply. And I'm not saying you're wrong, rather that you're unable to corroborate your statements with data and facts.

"And for that reason, I'm out".

[0] https://www.macrotrends.net/1333/historical-gold-prices-100-...