22 posts • joined Tuesday 7th May 2013 16:16 GMT
Re: I think Bitcoin will die a death very soon
The problem with trying to fix the value of various commodities relative to each other is that people will game the system. If fuel suddenly became scarce while iron was plentiful, then people would dump their worthless iron into the government's coffers to snatch up the precious fuel. Eventually, the government would have to abandon its scheme when it simply runs out of fuel.
They tried this exact scheme with gold and silver, trying to fix their price at a 15:1 ratio, and they eventually abandoned it for those exact reasons.
The only way for a government to back its currency with a "basket" of commodities is to have a "basket" of different currencies. But that's really not the point.
What the heck?
"IBM research staff member Emanuel Loertscher – the room’s architect – claims his clean room produces less than half the noise of any rival facility – 30dB versus 65dB."
That is NOT a halving of the noise levels. Decibels are logarithmic, whereby a 10 decibel difference represents a 10x difference in noise levels. A 35 decibel reduction in noise means that it is about 3000 times quieter.
Wait, "literally the coolest thing in the universe"?
At 5000 light years away, I assume that it's inside our own galaxy.
Given that there are billions of other galaxies, how do we know that there aren't colder nebulae out there?
Seems that someone got careless with the word "literally".
What's with this common theme perpetrated that as soon as Microsoft stops releasing patches, Windows XP machines everywhere will become overrun with viruses and be unusable within weeks?
Still using XP on both my main home computers, and I sometimes go a full year without installing updates. I don't think I've installed an update on my laptop in over 3 years. Never had a problem.
The planet may not be as "valuable" as previously thought? Are astronomists really this ignorant about what gives objects worth?
Even a 5 year old would understand why extraterrestrial entities have no value.
Barkeep, I'll have a sphere of beer please.
Basically my entire music collection consists of FLAC files that I've personally ripped from CDs. Almost all the CDs are ones I've borrowed from the public library. Every song that I listen to on my smartphone is in lossless format. I choose to rip from actual CDs instead of downloading the FLAC files from torrent, because I know what I'm getting. You never know, some idiot might have heard that "FLAC is better" and so he converted his MP3s to FLAC and decided to upload those.
For me, it's about choosing not to sacrifice audio quality. Do I claim to be able to hear the difference between a 320kbps MP3 and uncompressed CD audio? Who knows, maybe I can't. But here's one thing I do know: I'm utterly sick of listening to MP3 artifacts everywhere I go. From horrible streaming services such as Sirius/XM to people playing their iPod playlists at parties, it's quite frankly pathetic how our standards have receded. Seriously, does nobody else find it bizarre that the "gold standard" of sound quality today (high bitrate MP3) is actually _inferior_ to what everyone listened to 25 years ago (cd audio)? All of this despite the fact that listening to all of our music in full CD quality is 100x cheaper and/or easier than it was back then.
My FLACs are my oasis of escape from the bullshit. I can rest assured that no matter what song I'm listening to, no matter what I think sounds strange or odd in the song, it has NOTHING to do with some quality-sacrificing codec artifact.
THAT, and THAT ALONE, is the reason why I have still have use for CDs.
Anyone's guess? Uh, my guess is that the list WASN'T restricted at all, considering that everyone was able to use it!
Re: Anyone buys iPods anymore ?
Better yet, why not just use a Galaxy S3 and copy your music wirelessly if need be? And be allowed to install the best music playing software in the world, and be free from format restrictions. You can even store all your music in lossless format, and if you run out of space, swap out your memory card with a cheap SDXC!
I maintain that if aliens visit our planet and study our society, their first question will be why all our database commands are passed back and forth in alphanumeric strings.
Re: As near as I've been able to ascertain...
So let me get this straight: You're criticizing people for worshiping vigilantism, and then you go on to say that you would be a vigilante and gladly accept your punishment?
The amazing thing is that rest of your post made even less sense.
Re: Microsoft: "We're always listening to our customers"
“Listen, smile, agree, and then do whatever the fuck you were gonna do anyway.” – Robert Downey Jr.
"The actions of the NSA were "lawful," said Senator Dianne Feinstein (D-CA)"
So were the actions of the Nazis.
It depresses me that IT gets excited over an absurdly complex solution to an embarrassingly simple problem. It's like a fast food manager discovering that his employees aren't washing their hands after the bathroom, and instead of training them on proper procedures, he injects powerful antibacterial chemicals into all the food. Or something.
The problem is caused by connecting two languages (a frontend and a database) to each other using a ridiculous string parsing layer. The entire IT industry has accepted this as OK, why exactly?
"but why not say what you really mean, and replace "tyranny" with "evil"?"
Because I mean "tyranny", not "evil".
Tyranny, by my definition which might be wrong, is when government controls its populace with an iron fist.
Bitcoin might threaten the ability of governments to tax, and therefore survive. But since citizens are also capable of evil, tyranny may have a harder time surviving than evil, so I don't see how you can equate the two words.
Re: Rarity does not make value
You're absolutely correct that rarity does not automatically mean value.
You're completely wrong that the USD represents a slice of GDP, or a slice of anything for that matter. The USD stopped representing anything 42 years ago.
" Sovereignty Is threatened by a currency which isn't under the control of the state, but I've long since given up trying to get Bitcoin fanatics to understand that"
It's the Bitcoin fanatics who are trying to convince the detractors of this, not the other way around as you suggest.
And the way you've phrased your sentence, isn't "sovereignty" just the another word for "tyranny"?
Re: Virtual vs fiat
Both have no intrinsic value whatsoever.
The differences between fiat currency and virtual currencies such as Bitcoin:
- Fiat is by government decree, and its use is required by law. Virtual currencies are 100% voluntary.
- Fiat practically always inflates and loses value. Bitcoin, by design is similar to gold in that its supply is finite and cannot be created. Similar to how a standard deck of cards is fixed at 52, the maximum bitcoin supply is fixed at 21 million. Any deviation from this is not considered part of the system.
- At some point, the supply of Bitcoins will actually shrink: If someone dies and takes their Bitcoin password with them, those Bitcoins are gone forever. This would imply a higher value for the remaining Bitcoins, which is another reason to want to own them.
- As it is today, Bitcoin is not a currency, rather a junior currency prospect. People who buy Bitcoins should expect massive volatility and very high risk, but also the possibility of massive capital gains. At some point, if Bitcoin proves successful, the volatility will die down and it will become widely accepted as a medium of exchange, but at a much higher price than today.
Re: Virtual vs fiat
"The government says that fiat currency has value"
The government says nothing of the sort. Users decide the value in both cases.
First they ignore you, then they ridicule you, then they fight you, then you win.
The hilarious part will be after they pass laws taxing and regulating the exchange of Bitcoin, when they realize that there's no way to actually enforce the laws or track the exchanges!
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