Bitcoin miner - page 5
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Uh-huh... And the Combinator is also "incompetent". Are you the only one who is competent ?
Competence -- the expert, except for the word "expert" in his nickname (which, by the way, he chose for himself) -- is unknown to me.
How he traded bitcoins - I remember it - he had a signal and it was actively emptied in a couple of weekends.
I can not say anything more about his competence - because I do not know.
As for me, on the subject of money, from political economy point of view -- my competence is present, I even have a document -- and it is my job to be competent in these matters.
Calculator:
https://www.cryptocompare.com/mining/calculator/btc?HashingPower=13.5&HashingUnit=TH%2Fs&PowerConsumption=1350&CostPerkWh=0.067
The parameters are set for the S9. The S9 costs around $2k to $3k. So calculate how long it will take to pay for itself. At the same exchange rate.
"Nub nub" - maybe, but any new business is nub nub, and I'm not ashamed of that.
It's not a shame not to know, it's a shame not to know and ask about it!
I think the same way.
If you do have experience in this matter, you should not have given definitions, but
but tell us about the problems that you know about.
Well apart from reading numerous special resources, I've already given advice -- talk to a practicing miner.
If a miner has his own farm, it means there is profit.
Why would he (even for money) share his experience?
As for me, on the subject of money, from a political economy point of view -- my competence is present, I even have a document -- and it's my job to be competent in these matters.
And I have a job that deals with these issues.
Rutherford is credited with a very good saying - "If a scientist working in a laboratory cannot explain to the cleaner cleaning his laboratory what he does, he himself doesn't know what he does".
So - I can well explain each of the functions of money mentioned, and I see that bitcoin fulfils them perfectly.
I see that bitcoin lacks the one attribute of money - use value. But at the same time - any modern currency does not have it either. And there is no difference between bitcoin, dollar or "MMM ticket".
We can consider the attributes of money - bitcoin meets them as well as any other currency.
If an object has all the attributes of money, it is money.
That is why bitcoin is undoubtedly money. Invaluable (without use value), just like any other modern currency.
And I have a job, too, which has to do with these issues.
Rutherford is credited with a very good saying - "If a scientist working in a laboratory cannot explain to the cleaner who cleans his laboratory what he does, he himself does not know what he does".
So - I can well explain each of the functions of money mentioned, and I see that bitcoin fulfils them perfectly.
I see that bitcoin lacks the one attribute of money - use value. But at the same time - any modern currency does not have it either. And there is no difference between bitcoin, dollar or "MMM ticket".
You can consider the attributes of money - bitcoin meets them as well as any other currency.
If an object has all the properties of money - it is money.
Which is why bitcoin is undoubtedly money. It is incomplete (without use value), just like any other modern currency.
Do you have any understanding at all of what you are writing about?
Type "the primary function of money" into a search engine and you will get the answer: "The primary function of money is exchange. Money, that measure of the value of a product or service".
How can something that doesn't have the basic function of money as a "measure of value" be called money at all?
How can something that is not a measure of value be a means of payment, a means of circulation, a means of accumulation and be a world currency?
After all, this is exactly the kind of crap you write and write without thinking at all: "Bitcoin is money, though it is not a measure of value".
What's wrong with your logic there? Is it normal? Or are there "glitches"? How often?
p.s. This is a mess.Type "the primary function of money" into a search engine and you get the answer: "The primary function of money, is exchange. Money, that measure of value of a product or service".
How can something that does not have the basic function of money as a "measure of value" be called money at all?
Well, there you have it, at least something intelligible and reasonable to argue about as a human being.
So.
Money is a measure of the value of a product. I agree, it can't be money that can't measure the price of a product.
The price of any product - can easily be measured in roubles, dollars and bitcoins alike. Bitcoin is therefore quite capable of this function.
Well, here's something intelligible and reasonable to argue about as a human being.
So.
Money is a measure of the value of a product. I agree, it can't be money if it can't measure the price of a product.
The price of any product - can easily be measured in roubles, dollars and bitcoins alike. Bitcoin is therefore quite capable of this function.
Are you familiar with the term 'hyperinflation'?
I take a second cigar out of my desk drawer and give it to him.
- Intelligence, experience and old age do sometimes come in handy," I remark.
He grins and hands me a packet of cigarettes instead, six of which are missing.
- What else has happened? - he asks.
- Nothing. There have been no customers. But I have to insist on a raise.
- Again? You just got a raise yesterday!
- Not yesterday. This morning at nine o'clock. A miserable eight thousand marks! And yet at nine o'clock this morning it was still something. And then they announced the new dollar exchange rate, and I can't even buy a tie with it, only a bottle of cheap wine. I need a tie.
- How much is the dollar now?
- At noon today it was worth thirty-six thousand marks! This morning it's only thirty thousand!
That's a quote from Remarque's novel "The Black Obelisk". It's 1923, Germany, hyperinflation.
Doesn't it remind you of the behaviour of bitcoin? What measure of value can bitcoin have here? You don't have to be too knowledgeable to question much. Bitcoin is not money, has not been money and never will be.
"Do you want to see a trick? Only it's a secret, boy."
Are you familiar with the term 'hyperinflation'?
...
Doesn't it remind you of bitcoin's behaviour? What measure of value can bitcoin have? You don't have to be too knowledgeable to question much. Bitcoin is not money, has not been money and never will be.
Not at all.
Moreover - in that very passage - you can very well see the difference between paper money, which you can print as much as you want (and for non-cash money you don't even have to print, you just change the numbers in your accounts) and bitcoin, to mine which you really need to spend a lot of resources and invest a lot of money. That's what makes bitcoin different from non-cash dollars or rubles - you can't mine it as much as you want, bitcoin is provided with mathematical complexity and resources to solve the crypto-algorithm. Its inflation is strictly limited. Any attempt to "make it faster" will make it harder to mine. If everyone stops mining, bitcoin exchange rate will go down - but that will lead to stopping of mining, decrease of blockchain algorithm complexity, and to new round of mining first on processors, then on videogears, then again on aciches (but I don't think it will come to processors).
The measure of bitcoin's value is quite well known. At the moment - 350 rubles. Any product can be valued in bitcoins. A significant portion is directly traded for bitcoins. But here - just like dollars, yuan or any other currency - absolutely any commodity can be purchased by exchanging the currency into local rubles.
Not at all.
Moreover, just in the excerpt above, you can clearly see the difference between paper money, which you can print as much as you want (and for non-cash, you don't have to print, just change the numbers in your accounts), and bitcoin, which requires a lot of resources and a lot of investment in order to mine. That's what makes bitcoin different from non-cash dollars or rubles - you can't mine it as much as you want, bitcoin is provided with mathematical complexity and resources to solve the crypto-algorithm. Its inflation is strictly limited. Any attempt to "make it faster" will make it harder to mine. If everyone stops mining, bitcoin exchange rate will go down - but that will lead to stopping of mining, decrease of blockchain algorithm complexity, and to new round of mining, first on processors, then on videohors, then again on acics (but I don't think it will reach processors).
The measure of bitcoin's value is pretty well known. At the moment, it's 350tr. Any commodity can be valued in bitcoins. A significant portion is directly traded for bitcoins. But here - just like dollars, yuan or any other currency - absolutely any commodity can be purchased by exchanging the currency into local roubles.
You are clearly a "sentinel" - in all seriousness of an amateur you are mixing everything in one heap.
What does "print as much as you like" have to do with it? You were told above: "Money is never little or much. There's as much as there needs to be."
And what the fuck is this: "bitcoin is secured by mathematical complexity and resources to solve the crypto-algorithm".
Actually, money is secured by commodities and only commodities by the T-D-T formula -- not crypto-algorithms.
Okay. I'm out of here. You've got this whole thing all messed up in your head.