This is incredible. Chainalaysis just had its pants pulled down in a court of law, exposed as basically the digital equivalent of dental forensics or body language experts.
I don't get how this trips me up or is novel or even useful? Like sure, there's a very hard to edit register of transactions. It is also a speculative instrument that people can trade with. Other than to to niche enthusiasts and traders - why should i care ? I mean, they make refrigerators that have cameras. It's a marginally useful product in a limited circumstance, but i personally don't give a **** about it enough to care . A decentralized ledger to keep track of my purchases? Great. I do not give two ****in ***** and in fact i can think of a lot of reasons why i would not want that. This thread is 9 years old. I have kids that are younger than it. Still waiting.
Nobody gives a **** about your purchases except google and the places you waste your money. Yeah, over throwing the USD for a global digital dollar in a 10 year period is a great outcome. Its a dumb notion regardless where one stands.
Thanks for the insights - anyway why is a digital ledger combined with a speculative instrument something i should care about? This isn't a product i (or apparently most normies either) need to use.
You should care because money as a tool/technology is super important and affects nearly every aspect of our lives. Right now as privileged Americans our best use case for BTC is a SOV. With a sufficient time horizon (4 years+) there is no better asset to buy and hold. Study the history of money, then study BTC, and the reasons become obvious.
Texas Energy Grid Paid Bitcoin Miner $31.7 Million to Stop Working Amid Heatwave https://finance.yahoo.com/news/texas-energy-grid-paid-bitcoin-160500765.html
what the article doesn't tell you is the massive amount of revenue energy providers get when there otherwise would be no demand for those wind farms.
Yep. It's the only way outside of government subsidy to incentivize stranded or renewable energy development.
These same people criticize Tesla for taking advantage of this stranded energy. ERCOT refuses to join the national grid. They would rather lose the energy, thus money, than join the national grid. Bitcoin miners and Teslas are both very portable and will chase the cheapest energy.
This would be a credible take if not for the fact that the energy required to operate a plant continuously at full load is significantly higher in this model than a ramp up ramp down model and we do not have unlimited energy.
I agree that money is important - but one of the things thats makes money "money' is that it's value is ideally pretty stable and known to all - you can't be a currency and a speculative asset at the same time. Like if you told me to buy and hold dollars because of a long term deflationary event - we'd have big problems! That would be bad. A dollar should not appreciate. It should depreciate at 2-3% a year. Maybe Bitcoin is a good long or short! Great. That also makes it not a very good currency.
Bitcoin is a an asset to make money by telling others it's the next...money. Don't let logic get in the way of taking money from suckers. Throw some in it. Ride the pump and dumps. Who cares if it's going to solve the worlds problems. I won't be here to find out.
nothing that has ever existed is more stable than bitcoin, it has a fixed supply it's the rest of the world that's volatile
