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Take a look at what the Fed is doing to reel in QE as well over the past few weeks, it's also interesting and potentially relevant to the thought process although it get's less top line press.

Just for fun, lets run through that scenario. A government starts buying up hardware, the project forks. What stops the government from repurposing that hardware to the fork or buying up new hardware faster than miners can for the fork? It doesn't take a Manhattan project for China to simply...

We just have to hope the governments don't realize that and shift that money into bitcoin rigs! Just to be clear, even when all 21M BTC have been mined there will still have to be miners verifying transactions and they'll be equally susceptible to a 51% attack. They just get paid via the...

No quantum computing required, with the money and resources needed to build a couple squadrons of 5th gen fighters you can build twice as many conventional mining rigs as are currently in use. Like I said, failure of imagination in the crypto world to see it much differently than it currently is.

Invite significant electricity demand to a country with a spotty electric sector to start with where the marginal generators depend on imported LNG. Sounds like a great idea! Seriously, you can't just create a couple GW (China uses about 4GW of capacity on Bitcoin mining now) of generation out...

"Miners have a lot of skin in the game..." The crypto world suffers somewhat from a failure of imagination on this one. They assume a 51% attack comes from a cabal of the existing miners, which as pointed out is unlikely. On the other hand, an actor whose sole purpose was to discredit/destroy...

An interesting thought. Basically all it would take to end all crypto is one step function advance in computing that only one party has access to which enable them to successfully mount 51% attacks. No need to hack anything, just use the blockchain's foundation against it. Not what happened...

I agree, there was a comment from someone in govt about tumbling which seemed to reinforce this. No secrets in the blockchain, by definition every transaction is public. It's been demonstrated that even with tumbling you can track folks down rather trivially. There was no supercomputer hacking...

Not another hour of my life! I'll try to listen in at 1:30 tomorrow.

So you're left with nothing but the personal attacks, noted by all.

Sorry, I thought you were talking about how you were the wage slave. Now you've gone all altruist on us and it's all about the poor El Salvadorans. Of course 99% of them spend every unit of currency they have, regardless of type, on day to day living. So again, the fact that they could store...

I worked for a wage for 20 years. I stored my some of my savings in bonds, which always provided a return greater than inflation. I stored the rest in stocks and real estate, which provided a return significantly greater than inflation. Then I took that savings and used it to start a company...

So you'd like to ignore the entire point of my post that you're responding to about the idiocy of a statement saying that switching to bitcoin as a national currency for El Salvador, which happens to be the topic of this thread, would work for "protecting developing economies from potential...

We're not talking about what you think about your personal asset allocation as an investor. The subject of this thread is an article about an entire country, El Salvador, switching to Bitcoin as their national currency and I specifically only referred to the assertion that this is "protecting...

That makes my point even more clearly! And let's be clear what my point is. It is completely impractical for regular folks and regular companies to use a currency that buys 50% more one month than it did the month before, then 50% less six months later, then 40% more a few months after that...

Let's be clear here, you didn't initially argue that annualized bitcoin changes were inappropriate, you corrected me when I clearly stated the annualized numbers. Charitably you just didn't see that I wrote "annualized", but your doubling down on ignorant shows you actually didn't understand the...

No, I just understand the concept of annualizing economic data as is pretty much universally done. You, to be blunt, were clearly too ignorant to understand that the concept existed given your post. Your welcome, I taught you a new concept that will be useful in life if you can get over yourself...

Talk about a bunch of fanboys missing the point so completely and utterly it would be funny if it wasn't sad! Bitcoin if used as a currency would cause the price of real goods denominated in that currency to vary violently. That is the opposite of the article's assertion that "bitcoin provides...

In a month. Actually its (.55-.35)/.35=57.14% per month, to be more exact. There are 12 months in a year. When someone uses the term "annualized inflation" they're converting a one month number to an annual number, hence the term "annualized" which involves multiplying it by 12. Most economic...

So a month ago you could buy a car for .35 bitcoin. Today it will cost you .55 bitcoin to buy the same car. That's an annualized inflation rate of 685%! How is that "protecting developing economies from potential shocks of fiat currency inflation" again, especially the economy in question which...