so why is the expensive French nuclear so cheap, and supplies the enlightened fully-green Germany that's has insane high electricity rates then?
Someone forgot to inform them nuclear bad?
1,043 karma · joined January 6, 2021
Someone forgot to inform them nuclear bad?
but to your point, you are exactly correct. Stock markets is a game, designed to methodically transfer wealth from the peasant pockets to the ultra-wealthy that write the rules of the game.
One, and most common, game is to have peasants as suckers of the last resort and have their pension funds buy all kinds of garbage because "mandates". Why would anyone want to hold negative yielding debt? But they do.
This would mean much cheaper commodities(including gold and silver), much cheaper land, much cheaper housing, a lot fewer bubbles in the stock market. Much more healthy fiscal environment overall, with other stores of value "demonetized" and devoid of the monetary premium. A stretch goal for sure, but maybe can be eventually approached asymptotically on a longer time scale.
However, a pure monetary asset doesn't need to have any intrinsic value. It just needs to be a widely accepted store of value (and preferably, but not necessarily medium of exchange).
As such, it would seem that an entirely speculative asset would be one of the greatest achievements we will ever make.
Seems contradictory at first, but if you really think about it, I see nothing of fundamental importance that comes even close to it today. Especially today.
The ultra-wealthy deploy or deny capital to mold the society to their views.
"Social utility" is just this mind virus the ultra-wealthy spread in everyone's mind to make their rule-by-proxy feudalism palatable to the peasant class.
Also, strange how such prominent tulip story never resulted in adoption of tulips by any country? So weird, why is that?
And yet with Bitcoin, we see adoption not by one, but by several G-7 countries as a valid payment mechanism, one small country as legal tender, another small country preparing a bill this year, and Russia signalling it will regulate Bitcoin as currency, not property?
Strange, that.
Replaced crypto with stocks, how does it read now?
What's socially useful is drastically different from Iceland to Tonga.
People have their own mind to decide what is useful to them.
It's like asking about what types of books will be published in a 100 years from now, given we just invented the Gutenberg press.
In short, it will depend entirely upon the demand. This whole thing is about money, technology is secondary.
Bitcoin requires only as much power as a tiny country size of Portugal/Netherlands, less than 1% of electricity consumption globally.
Less than dishwashers, heated pools or computer games use. Perhaps we should ban these also?
If anything, we should be thankful Bitcoin exposed the inability of renewables to scale in practice.
humanity however, needs to branch out, and quick. and windmills aren't going to help us make that jump to an interplanetary civilization.
Nuclear is cheap, very cheap. It was made expensive by political decisions, under the guise of proliferation suppression, but is actually a tool of economic suppression of potential challengers.
Germany, one of the most high-tech countries in the world, cannot make renewables work. Germany also has very electricity rates. France, on the other hand, builds nuclear, supplies Germany, and has MUCH lower electricity rates.
I guess no one told them nuclear is too expensive?
2. being luddite in 2022 is a grave error.
3. he's absolutely dead wrong. pools do not exercise central control which has been observed empirically numerous times.
4. Card industry alone loses $40B per year. That's just cards. Lending and wealth is a whole other universe. So make it roughly 1-2T per year, which is the entire crypto marketcap lost every year by tradfi, roughly 10x than DeFi. F. GG.
5. omission of the most key topic at hand, isn't a simple error, it's proof of ignorance.
6. ad hom, but by you. (since when is it an ad hom to call someone wealthy and successful to the point they are immune to vagaries of daily life in most locales on Earth? Amazing.)
Boggles my mind how some think it's acceptable.
As soon as this orange website accepts the orange coin as holy gospel - then, and only then, has crypto truly peaked.
2. It's going to boil the oceans!
3. We officially recognize it as currency.
very decentralized.
We are going to settle Mars by relying on windmills. That's the plan?
His estimation of how much energy is "per transaction" is flawed, due to complete disregard of available scaling solutions today.
He essentially equates a central bank transaction to a penny left in a tipping jar, that's the general standard of rigour in this article.
2. "zomg carbon footprint" - apparently renewables can't properly supply enough to power a tiny country size of Portugal or Netherlands? I thought we are going to power the Earth with renewables? Something seems rather inconsistent here. Of course this Malthusian cannot bring himself to utter the word "nuclear".
3. Mining pools are made up of many individual miners andm depending on the protocol, the lucky hashing units and not the pool, constructs the block, and as such would not be a trusted third party. Something he seems to be blissfully unaware of.
Even if the pool constructs the block - hashing units can be pivoted away from a malicious pool in seconds.
4. Banks get hacked and lose money on the regular, it's not unique to DeFi. Insurance for DeFi exists, just it banks purchase fidelity bonds.
5. Not a single mention of censorship resistance at all. This alone should disqualify this immediately, tbh.
Reads like something written by a privileged, out of touch person who has never had to face a day of actual hardship in his life, such as: confiscation of wealth, destruction of savings by inflation, personal bankruptcy due to sovereign default, or even outright denial of access to banking for the politically suppressed minorities.
I'll spare you the time: he's either wilfully or intentionally misinformed, far too many errors to count.
Utterly unaware of any scaling solutions, and stuck on the "zomg carbon footprint" FUD, unable to utter the word "nuclear". This is despite the common knowledge that today good chunk of hashrate being produced by renewables in the US and nuclear in Russia. Quotes unreliable sources that have a stated agenda and apparent conflicts of interest.
Outdated, inaccurate, sloppy.
seems like an extraordinary number
Unfortunately, with encryption (and code as speech) - has not been tested at the supreme court as much as most think. It's still an open question to an extent.
The Mother Nature's goodness.
Education is probably quite important, but it seems there are other important components.
Are there any countries where level of corruption is much lower, adjusted for education?
I'd wager most high-trust countries would do better on measures of corruption, adjusted for education levels.