COVID19 Factors We Should Consider/Current Events

[francesco.decaro]

So, you believe in the Labor Theory of Value (Labor theory of value - Wikipedia). That the value of a commodity is dependent on the effort it took to produce it, as opposed to its actual intrinsic/inherent utility. A cell phone built by hand, a process that would consume hundreds of hours in an un-automated factory, if it was possible at all, is worth more than an automated-factory-produced cell phone, simply because it was harder to make.

Have these complicated mathematical riddles made a Mars mission easier to complete? Why would a "miner" be rewarded for solving a complicated mathematical riddle that does not add value to anything outside the bitcoin once it is solved? I have never seen an argument for the practical utility of solving complicated mathematical riddles for their own sake, any more than it makes sense to take a shovel and dig a hole in the ground, and then fill it back up -- it was hard and took a lot of work, but what was actually accomplished?

So again, what makes Bitcoin valuable, aside from the demand for Bitcoin produced by Bitcoin? This is not an argument for a fiat currency -- it is an argument that Bitcoin is a fiat currency, albeit one without a history of legitimacy.

From the FAQ page

Why do bitcoins have value?
Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Bitcoin is backed by mathematics. With these attributes, all that is required for a form of money to hold value is trust and adoption. In the case of Bitcoin, this can be measured by its growing base of users, merchants, and startups. As with all currency, bitcoin's value comes only and directly from people willing to accept them as payment.


So, the mathematical solving is not what gives it value. But the miners do invest in the equipment and pay electricity to make it run 24/7, so they are rewarded, in a predictable, mathematical way for each block they validate. And they are rewarded with fees for each transaction they confirm, which is what's going to incentivize them to keep working even after the block reward will stop.

The whole network is designed to be self-regulatory and secure. The community can make decisions in a democratic way sometimes, but it's basically an incorruptible system. People have tried, and failed, because the majority doesn't allow them to. You could say it's more democratic than current politics. It has probably created more jobs than a lot of presidencies.


From the FAQ:
Bitcoin miners are neither able to cheat by increasing their own reward nor process fraudulent transactions that could corrupt the Bitcoin network because all Bitcoin nodes would reject any block that contains invalid data as per the rules of the Bitcoin protocol. Consequently, the network remains secure even if not all Bitcoin miners can be trusted.


Does the LTV apply to money as well?
It feels like it's a combination of the labour involved in making something available and marketable (in the case of bitcoin it's the mining, but also the start-ups and business using it around the world, the people acting as nodes, the programmers inventing software to make it more user-friendly, and so on) and the personal preference of the users who recognize its intrinsic values

[Gilead]

How so to speak "smart" people fall for these BS arguments is beyond me.
FDA VRBPAC Member Pamela McInnes on Having No Data Showing Protection Against Severe Disease

[Jason Donaldson]

So, you believe in the Labor Theory of Value (Labor theory of value - Wikipedia). That the value of a commodity is dependent on the effort it took to produce it, as opposed to its actual intrinsic/inherent utility. A cell phone built by hand, a process that would consume hundreds of hours in an un-automated factory, if it was possible at all, is worth more than an automated-factory-produced cell phone, simply because it was harder to make.

Have these complicated mathematical riddles made a Mars mission easier to complete? Why would a "miner" be rewarded for solving a complicated mathematical riddle that does not add value to anything outside the bitcoin once it is solved? I have never seen an argument for the practical utility of solving complicated mathematical riddles for their own sake, any more than it makes sense to take a shovel and dig a hole in the ground, and then fill it back up -- it was hard and took a lot of work, but what was actually accomplished?

So again, what makes Bitcoin valuable, aside from the demand for Bitcoin produced by Bitcoin? This is not an argument for a fiat currency -- it is an argument that Bitcoin is a fiat currency, albeit one without a history of legitimacy.

The parallel that sprung to my mind, frankly, was popular exercise vs. training. "But it's so hard to do, and it makes me so sore, therefore it's superior" vs. "It provides value, viz. increased strength." The P90XfitWiedermuscleconfusionist values the difficulty, the soreness, the sweat...the SS trainee values the strength. Something's value is defined by what someone is willing to give up for it.

Governments don't have to control the generation or exchange of the macguffins themselves to stifle a currency. They just need to influence the exchange of it for something else aspect. Similar to the triad of violence prevention, removing ability, opportunity, or intent will be sufficient. They don't have to lock down the technical ability, just one or both of the other two.

[johnst_nhb]

Anybody wearing a mask now just wants you to know they didn't vote for Donald Trump.

Ha yes, this is true!

I’m a simpleton so this had not dawned on me.

[Mark Rippetoe]

Bitcoins have value because they are useful as a form of money. Bitcoin has the characteristics of money (durability, portability, fungibility, scarcity, divisibility, and recognizability) based on the properties of mathematics rather than relying on physical properties (like gold and silver) or trust in central authorities (like fiat currencies). In short, Bitcoin is backed by mathematics.

In short, Bitcoin is a fiat currency.

[Yngvi]

This may be true, I also agree with about the manufactured part, but he is (or they are) much more fun, you are always so preachy. I only point this out because you are pretty fun yourself when you don't take everything so seriously.

I have never heard of this Anglin guy, bot or entity, but there are two current hot topics in this area:
1. What happens if you burn a Quran, a Talmud, a Bible or any combination of the three?
https://twitter.com/Bob_cart124/stat...5355311513600?
2. How long until websites like SS are banned in the EU for allowing the wrong questions to be asked?

The most important reason to wear a mask is to rob a jewelry store.

That's my opinion; the others are wearing masks to provide legitimacy to the thieves.

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I really hate to agree with Frank on anything; there is enough potential utility and benefit to BTC/crypto that it should not be dismissed yet.
It might be more of a tool, like a credit card, than a currency.
Remains to be seen.

[VNV]

In short, Bitcoin is a fiat currency.

At the tulip level. Some fiats are stronger than others.

Which doesn’t mean I don’t want bitcoin to succeed. I find it very attractive.

But, I still see one major role of a legitimate government is to provide a stable currency. I am very willing to be disabused of that notion, but don’t see it yet.

[francesco.decaro]

In short, Bitcoin is a fiat currency.

I really can't see how

[Jovan Dragisic]

Army spied on lockdown critics: Sceptics, including our own Peter Hitchens, long suspected they were under surveillance. Now we've obtained official records that prove they were right all along

Probably just the tip of the iceberg. Nearly 2% of East Germans worked for the Stasi in one form or another. I wouldn't be surprised if several western states already surpass that.

I find it interesting how Peter Hitchens was pretty much the only relatively high profile lockdown critic in the entire UK. If you listen to a bunch of his talks and read some books, it is clear that he is a spook himself. So there must have been a split in the spook community from the get go, it is just that the Covid side pulled no punches and went all in. It seems to me that the other side is slowly punching back.

[Gilead]

MIT Professor & expert on drug safety analytics Rested Levi:
"Stop all the mRNA vaccination programs!"
"This is clearly the most FAILING medical product in the history of medical products... How did we end up in a situation that it's also the most profitable one?"
https://twitter.com/efenigson/status...7_3eZgIEA&s=19

Frontiers | Microbiome-Based Hypothesis on Ivermectin’s Mechanism in COVID-19: Ivermectin Feeds Bifidobacteria to Boost Immunity

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Trump praising Klaus Schwab, saying “Klaus has done a fantastic job.”
https://twitter.com/stillgray/status...tkuJbBeoA&s=19

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So after when we "transition" entire economies to the green revolution. How many of these kids do you think will be alive. Modern day version of canon fodder for a made up war.
Devastating photos of cobalt mines in Democratic Republic of Congo that power Apple, Tesla and more | Daily Mail Online

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A paper from 2012 shows that when the statistical relationship between greenhouse gases and global temperatures are properly specified, the relationship between them is spurious. In other words: greenhouse gases do *not* cause global warming.
ESD - Polynomial cointegration tests of anthropogenic impact on global warming

https://twitter.com/joshg99/status/1...wruqOIgAA&s=19
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Bill Gates concludes that mRNA shots aren't actually useful, warns of ‘next pandemic’

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Prof. Sucharit Bhakdi is working with Thai authorities to nullify the nation's Pfizer mRNA vaccine contracts:

"Safety pharmacological studies were never performed... Pfizer BioNTech is going to have to pay back those billions to Thailand."

https://twitter.com/KanekoaTheGreat/...lCH7K7W5Q&s=19

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