Crypto discussion

Montoya

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it really depends how they are using that % of power though if they are using that power for mining and gaining more than they are spending on it then its could be beneficial for their country. but yes definitely need to focus on their infrastructure.
Its going to be interesting to see if they can attract miners and make it an industry.
 
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Sirus7264

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They just need to get Bill Gates to help them build nuclear reactors.
i'm all for nuclear reactors people think they are not clean but they are honestly probably one of the most clean sources of power out there. they are just scared another Chernobyl will happen. Thing is they have never read about what happened there and how it happened. Did you know they were performing testing and turning all the safety features off on the reactor? thats why that happened.
 

Bambooza

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i'm all for nuclear reactors people think they are not clean but they are honestly probably one of the most clean sources of power out there. they are just scared another Chernobyl will happen. Thing is they have never read about what happened there and how it happened. Did you know they were performing testing and turning all the safety features off on the reactor? thats why that happened.
Oh I’m all for nuclear. Honestly if Nevada was on its game they would have accepted the waste put it in a breeeder then sold the power back to the west cost. California would have loved it as they could have claimed further reduction in their carbon footprint. But atlas’s you are right in the fear of nuclear.
 

Sirus7264

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Oh I’m all for nuclear. Honestly if Nevada was on its game they would have accepted the waste put it in a breeeder then sold the power back to the west cost. California would have loved it as they could have claimed further reduction in their carbon footprint. But atlas’s you are right in the fear of nuclear.
you know you dont have to waste it you just refine it and use it again but we have a law against that because it produces plutonium and Uranium 256 which could be used for weapons. Europe does it all the time and its alot more clean then burying it for 10 billion years not to mention reactors are good for extremely long times.
 
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Devil Dog Hog

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El Salvador makes cryptocurrency legal tender . . .🤨 . . . .😑 . . .one of the most corrupt countries in Central America . . . 🤔 . . . 🤭 . . . 😄😁😆😅😂🤣🤣😝😜🤪🤣🙃🤣😆😆😆🤮🤮🤣 . . .*WHEW* Sorry, I needed a good laugh after the week I had.
So lemme get this straight, a corrupt country that has poor infrastructure, a struggling economy, where most residents don't have access to electronic banking in the first place, decides that its going to legalize bitcoin which fluctuates horribly, worse than any other goverments actual currency. The only good thing I see is that their using renewable energy for the electricity. The workers that are actually building the crypto mines cant even use the bitcoins. I can just see it now as they try to pay their workers in bitcoin "Heres your paycheck for the last two weeks, even though your already one of the lowest paid workers in the region. Normally we would pay you an average of $855, but were going to use bitcoin, which makes your pay check 0.024 bitcoin on the current market, oooh, wait, hold on, looks like it just took another 15% drop. Better get that check cashed and converted into USD before it drops more and you can't afford the exchange rates. NEXT!"
And the president, he loves the idea.
In a world first, El Salvador makes bitcoin legal tender | Reuters
/// Financial regulators and policymakers warn bitcoin facilitates money laundering and other illicit uses.
Bukele brushed off the fears, saying criminals already use U.S. dollars and other assets to launder money.
“The problem is not the dollar, it is the criminals,” he said. ///
Which works out great for him since he's already setting himself up a dictatorship, mans gotta have a pension afterall. El Salvador’s president Nayib Bukele took over the top court and attorney general - The Washington Post
and never mind his 5 buddies that are already listed as certified corrupt by the US goverment. Five of Salvadoran president’s allies accused of corruption: US | Corruption News | Al Jazeera
This is probably the best move El Salvador's made for its top 10% of population that owns 40% of the countries wealth. Most of them already converted the tons of money they made from coffee and sugar into finance and commerce. El Salvador Poverty and wealth, Information about Poverty and wealth in El Salvador (nationsencyclopedia.com)
Good job Bukele, I'm sure the ultra wealthy will contribute greatly to your money laundering fund, er, i mean retirement fund, er, I mean your election fund.
 
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Bambooza

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TESTcoin when?
Honestly it wouldn't be hard to write the software. The issue comes down to the hardware costs as crypto currency only works based upon its distributed and eventual consistency nature as transactions are written to the blockchain. While a handful of servers technically would work the issue becomes one of security and trust in the transactional history which is based upon lots of computers all agreeing on the same truth. Which is why transactional costs are so high with crypto currency vs traditional bank transactions which rely on the institution being trusted and have only a few servers writing strong consistency.

But like all forms of currency its only as valid as the vendors that will take it for exchange for items the holder wants. After all what use is 1000 bitcoins if you can't use it to buy food, a house or a car? In some ways it was silkroad that legitimized the use of Bitcoin.
 

NaffNaffBobFace

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Aramsolari

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Wtf does the World Bank even know about bitcoin adoption?

lol

Some 17yr old intern teaching them about how to download the bitcoin wallet from the app store?
Institutions like the World Bank and the IMF can take a hike as far as I’m concerned.

They were setup after WW2 on the behest of the victorious powers, notably the US. Under their watch, local economies were decimated under the guise of ‘assistance’ (look up structural adjustment policies)….all to benefit US multinational corporations.

The World Bank is anti crypto as financial assistance from them is contingent on the continued use of the US dollar as the main international reserve currency of choice. Latin American countries adopting crypto would make these institutions less relevant.

I was a kid living in Southeast Asia when the Asian Financial crisis of the mid 90s happened. I remembered the demands institutions like the IMF and the World Bank made to developing countries like Malaysia in order to ‘save them’. Fuck those guys.
 

NaffNaffBobFace

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Online where I'm not logged in and personalised ads can't chase me I'm seeing nothing but "invest in cypro" ads.

Where I am logged in and getting personalised ads I'm seeing ads for Ladyshavers so nice to see thats still working as well as ever it did, I'm male and only shave once a month.
 

NaffNaffBobFace

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Perhaps they're telling you something you don't know.....yet.
Mmm, maybe...?

Perhaps I'd only have to shave once a quarter if I got the right razor...?

Time to borrow Mrs.'BobFace's epilator?
 

Ploeperpengel

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Online where I'm not logged in and personalised ads can't chase me I'm seeing nothing but "invest in cypro" ads.
And this is where any sane person should really get suspicious. Crypto is an add driven hype about bits of software that represent highly volatile fantasy assets without any intrinsic value.


Rant on:
It's an inherently wasteful technology and therefore absolutely not futureproof in any way as it is now. This technology will require much more developement and probably a whole different approach in order to fire up the IoT visions for tommorow and still be sustainable. As most likely outcome for IoT I think official digital currencies will ultimately win. The cryptotokens of today might pave the way for the developement of he tech but will likely stay in their niche for taxevaders and money laundry or just die. As the whole concept of smart contracts only just starts to shine when you think about automated IoT exchange. Cryptotoken are no currency they depend on poeple willing to exchange currency for them. If IoT works directly with an actual currency there's no real need for a fantasy token.

Proof of work is a waste of processing power:
Out of 100.000.000.000.000.000.000.000 calculated bitcoinblocks only 1 actually gets to be part of the chain while 99.999.999.999.999.999.999.999 calculated blocks are wasted energy.

Proof of Space: basically same thing just precalculated. Waste of Space.

Lastly about the beloved Ether. Once that's Proof of Stake it might get less wasteful but soon it's not even DeFi. There will be like 20 huge Serverfarms worldwide that will validate the chain. How can anyone think that's decentralized just because it might spread geographically.

That doesn't mean you can't make a dime or two while the hype stays on...
 
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