Topic: Bitcoin adoption slowing; Coinbase + Bitpay is enough to make Bitcoin a fiat - page 16. (Read 67121 times)

China+Russia hit hard and the price plummeted. Why?

http://armstrongeconomics.com/2014/04/06/inflation-is-not-always-caused-by-change-in-money-supply-deflation-is-engulfing-europe/


Martin Armstrong is wrong on this point. It is important to refute him, because he arguing against anonymity.

Indeed legalizing drugs would lower their cost, make them more widely available, and thus through competition defund those Mafias that control distribution now. The taxing part has nothing to do with it! He conflated.

When drugs are illegal, non-criminals are unwilling to risk it to distribute them. Thus the criminals takeover the business.

I would prefer drugs weren't available, but the above is the economic reality. And it is not my right to impinge upon and judge for others what they want to do to themselves.

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Why do you say AWS is cheaper than buying hardware? I don't think so.
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To facilitate this, we should make it super easy to deploy a botnet, such that any person can do it with a single click.  Wink
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I agree with you that this is the prevailing current theory.  I just think that in 50 years we will have an upgraded and different understanding of matter, energy, space time, and how life and consciousness play into these.  I know that is a weak argument in that I can't refute you with science.  I'm basically arguing the ridiculous point of "my imaginary science is better than your real science." It is just my gut feeling and gut feelings don't count for much in a forum like this.  So, I'll give it to you that you made the superior comment and I'll be left twiddling my thumbs hoping someday science upgrades proves me right.  Hahaha.  

rdnkjdi, if the demand for botnets drives them to the same cost as purchasing the hardware, then no one is getting coins at lower cost than anyone else. Is that point clear?

The botnet owner gets a higher price for his botnets but that has no impact on the cpu coin's economy. I am happy if botnet owners make a lot of money, that is the only way people are going to learn to protect their computers and at least the hardware isn't sitting idle. The botnet owners are providing a useful service.

I just have a way of seeing paradigm shifts that others don't.

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]If the cpu coin is widespread enough to drive sufficient demand, the price of Botnets will simply rise to match their hardware cost. They aren't unlimited in supply. Botnets compete for the same computers that users will want to use to mine with. No problem really if thinking big, only while small it is a threat.

Cloud computing won't have too much of an advantage, only the economies-of-scale on electricity mostly, but the wise small-scale miner can locate with microhydropower to beat them and the home miner doesn't care about electricity cost. The Tilera CPUs won't compete. If you mean admins hijacking their company servers to use their downtime, this is just a form of Botnet.

Also the word will get out. People will start reclaiming their computers from hijackers. Thus driving the price of Botnets up further.

In the near-term, the botnets won't have the right CPUs in most machines, so they will run inefficiently, something like an order-of-magnitude less than a recent Haswell.

Also the value of the coin scales to the value of the mining network, so if home users drive difficulty to the moon (because the electricity cost isn't significant compared to other appliances), they will also drive the price of the coin to the moon.
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Are we sure we want it to be just another fiat ?

I would prefer something completely different. Different from anything already existing.

If anything, it will cause a capital contract back in the USA and that is behind a dollar rally – not collapse.

FATCA was passed back in 2011 and introduced by one of the most dangerous Democrats on Capitol Hill – Harry Reid. He is as much a Marxist and so extreme left he makes the perfect bookend to match McCain who never saw a county he would not invade. FATCA was passed back in 2011 and ever since Americans have been thrown out of banks on a worldwide basis. I have reported how FATCA is destroying the world economy – not the dollar. It should be noted that highly unusually, FATCA was not subject to a cost/benefit analysis by the House Ways & Means Committee because nobody dared to look at what they KNEW was unconstitutional and treated ALL American citizens as economic slaves.

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Under international law, FATCA is clearly a violation for it is imposing requirements on institutions outside the USA over which they have NO territorial jurisdiction. FACTA considers the entire world belongs to the IRS.

FATCA requires foreign financial institutions (FFI) of broad scope – banks, stock brokers, hedge funds, pension funds, insurance companies, trusts – to report directly to the IRS all clients’ accounts owned by US Citizens and US persons (Green Card holders).

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If a [foreign] institution does not comply, the US will impose a 30% withholding tax on all its transactions concerning US securities, including the proceeds of sale of securities on that institution;s entire business.

In addition, FATCA requires any foreign company not listed on a stock exchange or any foreign partnership which has just 10% U.S. ownership to report to the IRS the names and tax I.D. number (TIN) of any US owner.

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thank you so much Nevada for infecting the world with this crazy Marxist. Even Hitler respected the sovereignty of Switzerland and did not invade them simply because Germans had accounts there. Reid respects no borders nor does he respect the Constitution or International Law.

I know the solution.  

I wonder what effect could a CPU coin have if it has too much value in the CPU industry, are we to expect Intel and AMD for example to withhold fresher iterations of their CPUs for private mining, or charge much higher, or the opposite way getting preorders that will fund their research at a faster rate?

Any chance that your coin works with a UltraSPARC T2 chip?