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Utopia Talk / Politics / Crypto mining still worth it?
Habebe
Member
Fri Jan 20 03:25:48
What has Nhill been up to?

Nimi, what do you think?
LazyCommunist
Member
Fri Jan 20 06:29:38
nhill is living under a bridge, his wife has left him and is now living together with a working class man who can feed the children.
Dukhat
Member
Sat Jan 21 20:02:10
Withdrawals are impossible on many exchanges now. Nhil has hung himself in his mom’s basement.

She has yet to find out because his dead corpse smells exactly the same as his live body.
Nimatzo
iChihuaha
Sun Jan 22 09:23:26
Depends on the coin and your energy prices. But I never gotten into the mining, atleast not yet so you need to. Been trading ETF, stocks and USD last couple of months, crypto seems to be showing signs of life again, prematurely I would think.
Nimatzo
iChihuaha
Sun Jan 22 09:23:54
So you need to check the specifics*
Habebe
Member
Sun Jan 22 12:04:50
Yeah, Ive been slacking on the trading, but I have some cash tuxked away. Ive been hesitant lately.

I have started learning options trading which generally seems less risky than I initially thought, but it does require all or nothing shots at a better sum.
Rugian
Member
Sun Jan 22 12:14:17
"nhill is living under a bridge, his wife has left him and is now living together with a working class man who can feed the children."

Crypto does offer something of a good communist morality tale, of what happens when greedy capitalists accumulate too much wealth and decide to waste it on wild speculation schemes.
Nimatzo
iChihuaha
Sun Jan 22 16:19:01
Habebe
Previous metals, XLU, XLP and XLV. My best bet was a new Swedish fertilizer company called CINIS that produces fertilizer from waste products, among others from Northvolt battery production.

China has woken up again, started a position there and Sweden as well. A good trade with limited down side right now is the VIX.
Nimatzo
iChihuaha
Sun Jan 22 16:24:17
Rugian

"of what happens when greedy capitalists accumulate too much wealth and decide to waste it on wild speculation schemes."

Whatever has happened to you has rotted your once beautiful free market, entrepreneurial capitalist heroic spirit.

The work has not stopped, financial ecosystems are still being built from scratch. It's a shame really Rugian, that you have not tried to understand any of it, you have chosen the CCP path.
jergul
large member
Sun Jan 22 16:25:46
Ponzi schemes are fine if you enter early enough.
Nimatzo
iChihuaha
Sun Jan 22 18:05:20
If that is how you want to see it, then all I want is a chance to get in early, everyone actually, to have a chance. None of us where given that chance with the USD, Euro, SEK, NOK etc. We ste not accredited investors nor stake holders, just plebs.
jergul
large member
Mon Jan 23 02:24:48
Well, its more the problem with "trade". Things have relative worth only as long as sentiment supports that worth. You know about the tulips. Hard to get more tangible than tuiip bulbs.
Nimatzo
iChihuaha
Mon Jan 23 04:46:12
Sure absolutely all the currencies I listed can be traded and their value is tied to the prevailing sentiment. You can speculated and profit on the subtle and big changes in sentiments

Thank you for the summary of the fundamental mechanics of currencies and a bunch of other value hierchies, but as long as people like you do not understand that these ponzi mechanics are ubiquitous and ine of the pillars of modern finance there is no sense in taking the things you say any more seriously than TCs social commentary. Sorry!

The upside is that every crypto project is a new chance at a fair distribution. Good luck renovating the traditional financial machine.
jergul
large member
Mon Jan 23 05:05:32
*wonders what poster you are mistaking me for*

Every new project is a chance at fair distribution. Venture capitalists do it all the time. The difference perhaps is that while the barriers for entry into a crypto project is quite low, the crypto designers can take full advantage of early entry and liquidate investments into their project too easily.
Nimatzo
iChihuaha
Mon Jan 23 05:36:29
People who mention Tulips are a red flag in these discussion. Sign that either the person is trolling or simply clueless. Personally, given that you have said ”Jergul” isn’t real I put you in the trolling category. On the other hand you are also the same person whose imagination for the use of crypto was to give the state even more power. So who knows.

”crypto designers can take full advantage”

Indeed, but you only need to get it right once, one benevolent designer. But I really mean it, good luck changing the course of traditional finance, between the influence of old money on politics and the stake holders of the WEF, you will need it all the luck you can get.
jergul
large member
Mon Jan 23 06:55:37
"Well, its more the problem with "trade". Things have relative worth only as long as sentiment supports that worth. You know about the tulips. Hard to get more tangible than tuiip bulbs."

Maybe read what I read instead of being blinded by a red flag.

Hard to get more tangible than tulips stands in opposition to the intangible features of block chain technology.

I was pointing out that all trade is based on percieved values. Currency is a means to an end. You do not have to barter on how many pigs a house is worth with currency, or with block chain tech.

You still have sentiment deciding how much a block chain virtual token is worth, or what a dollar is worth for that matter. Same thing really.

Of course block chains give States more power. NK has been making billions. Iran's economic uptick is likely partially attributable to blockchain tech.

Now, if you say that it is prolly bad for states fond of secondary sanction regimes and a tendency to freeze assets to further political goals, then sure.

Any change of status quo is bad for such states.
Nimatzo
iChihuaha
Mon Jan 23 07:23:04
See again this conflation of what you said/intended with block chain in the hands of government (CBDCs) and the scams that NK is making money off or the Iranian way around sanction are just more red flag. Very difficult to take anything you say seriously and it is only made worse by your habit of repeating the same 140 charachters. Then I add the bizzare interpretations you make of well established phenomena in the physical world and there is nowhere this can go where I will think, this was time well spent.

Not only do I read what you say jergul, I also remember things you have said.
jergul
large member
Mon Jan 23 08:05:09
Nimi
How is NK mining bitcoins a scam? Or how is Iran using the advantages you cite for block chain tech a red flag?

States will take advantage of any decoupling from established global reserve FIATs to a much greater extent that any percieved advantages afforded individuals outside of Ponzi boosts on money put down.

What I actually said is that the great advantage of block chain is tracability. Block chain currency can make tax regimes much more effective due to inherent transparency in financial transactions.

The crypto subspace of blockchain tech is useful for tax avoidance and other criminal activities of course. But no more so than physical cash.
jergul
large member
Mon Jan 23 08:07:14
Think in terms of smart contracts and legislation stipulating that VAT payments have to be an inherent part of any smart contract. So when condition A is met, the contracter gets paid and the tax office gets its cut automatically.
Nimatzo
iChihuaha
Mon Jan 23 08:16:37
See Jergul you are doing for the third time. This time we are pretending that the insignificant NK's mining of a decentralized currency is the same thing as CBDCs.

If you follow the conversation:

Nimatzo
"On the other hand you are also the same person whose imagination for the use of crypto was to give the state even more power. So who knows."

"Of course block chains give States more power. NK has been making billions. Iran's economic uptick is likely partially attributable to blockchain tech."

"See again this conflation of what you said/intended with block chain in the hands of government (CBDCs) and the scams that NK"

Do you understand? What I am referencing is your support of CBDC, so that government can keep track of all the money. Now you are trying to shift the goal posts to the activities NK and Iran, pariah states. Things that have absolutely not relationship with each other.

At this point you may as well just do what seb did back then and say that crypto is used to buy child porn and avoid taxes.
Nimatzo
iChihuaha
Mon Jan 23 08:21:10
You may be clueless, and that is more forgivable. You may simply not understand that the centralized block chain you support CBDCs are not the same thing as the decentralized block chains that NK and Iran are using. These are two different set of issues and in extension problems. I admonished you for supporting the former, you respond with the latter.

I am sorry, but most conversations with you lately are completely incoherent.
jergul
large member
Mon Jan 23 09:31:14
Nimi
I am talking about several things as denoted by my use of multiple paragraphs.

You are probably just reading too much engineering stuff, so it impacts on your reading comprehension in a wider sense.

Engineers can be a bit autistic if they are not careful :).
jergul
large member
Mon Jan 23 09:33:25
"What I actually said is that the great advantage of block chain is tracability. Block chain currency can make tax regimes much more effective due to inherent transparency in financial transactions.

The crypto subspace of blockchain tech is useful for tax avoidance and other criminal activities of course. But no more so than physical cash."

I can for the world of me not see why you have trouble except perhaps that you might be overworked.
Nimatzo
iChihuaha
Mon Jan 23 10:32:27
Ponzi scheme
Tulip bubble
Sanction avoidance

These are all warning signs. If you open with these things, you do not get to act surprised the conversation drove into a ditch, I just saw it coming, got out of the car and repeatedly told you, you are driving into a ditch. *shrugs*
jergul
large member
Mon Jan 23 11:49:57
Nimi
Trigger terms? Mkay.

http://www.coinbase.com/price/terra-luna

Wake up and smell the tulips :D. Not all private crypto ventures need to end that way. Some might be wolfram lightbulbs, not tulips.

Remember that I have followed bitchain technology on and off for way longer than you have. I was initially interested because it gave a conceptual way to track all relevant data from trawl in water to consumer at the cash register.

I have even mined a bit back in really early days :). This would be a few years after I was made aware of blockchain as a concept.

Block chain is very interesting. But you need to keep an eye on the big picture. Nothing special about crypto really. A bunch of people deciding something is worth something and buying into that thought. It is worth something until it is not.

Block chain has that flaw too. Data tracing wild fish from sea to consumer does not have intrisic value either. But at least it is tangible information that could have some concievable value to someone.
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