What does Holla Forums think of bitcoin?

doesn't it?

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Ethereum is better (more democratic and isn't inherently deflationary), in-kind calculation is the best.

Years or months?

but methanphetimines do haha

that image gave me a boner
i think i may be a furfag

I think all problems in the Black community can be traced back to the State making it not only possible, but profitable for the poor to have children. Women no longer needed to find a quality male who would stick around, they could just jump from dick to dick, churning out kids and getting paid to do it. The kids are abused, starved, and missing a quality male role model in their lives, which costs them lQ points and slants them towards repeating the same behavior of their non-present fathers. I have a variety of proposals that would solve this issue, but that's a topic for another thread.
Side by side refrigerators waste valuable internal real estate and thus are objectively inferior to bottom pull-out drawer freezers, preferably french door which are more external space friendly (need less clearance to open the doors).
I think space exploration/research is an economic black hole, and that the ~$20 billion the US spends on NASA every year should instead be spent on solving terrestrial problems in the here and now.

Our algorithms suggest that if you like that image, you'll love this one.

Dogecoin is much better.

It would be perfect if it was completely anonymous.

Yet.

no, that one didn't work so good

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kek

kek

It is some of the MOST delicious irony in btfoing ancaps and right libertarians. They vehemently rail against fiat currencies yet support bit coin…….which is a fiat currency. These people are beyond help

It's a good concept and, with a few modifications, will likely form the basis of market socialism in the future. For now it's a good way to avoid paying for wars.

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psychologytoday.com/blog/greening-the-media/201312/bitcoin-libertarian-dream-or-environmental-hazard

Bookchin would not approve.

kek

hm how have I never thought of this before. That's actually kind of hilarious.

Reddit socialists get completely assblasted from the cost in electricity of mining, saying that you could give electricity to 600 trillion houses in Africa by stopping one miner.

motherboard.vice.com/en_us/article/bitcoin-is-unsustainable

As of now, it's wastes more energy than it requires, it's too slow for real world exchange, requires too much storage/time to properly set up (ie. hosting a actual node, contributing to decentralization) and it's anonymity is lacking.

Quite a few things actually….

I just don't know how to respond to these levels of ideology

This

[citation needed] please explain

nah, it's just another currency. And for real world transactions regular cash gives higher anonymity.
The fact that it doesn't have a state to back it or a central bank is interesting, but only as a proof of concept, that decentralized forms of currency are viable.

They don't see it as fiat. Really depends on what definition you use. Generally fiat refers to government backed money, and that bit coin is not. Other times fiat is a catch all for currency that isn't representative money, and that bit coin is. I've seen some people say that because of the implemented scarcity and the work that needs to be put in to "mining", bitcoin shares more characteristics with resource based money than fiat money, but I'm skeptical of that claim. While it's true that it can't just be printed the same way fiat currency can, bitcoin holds no real physical value the way gold or other rare resources do.

Varoufakis told me it's a pyramid scheme and I trust him.

That's bs.
Fiat currency is currency that's not backed by any other commodity. You're an ahistorical retard.
Hayek himself talked about how he dreamed of competing fiat currencies I think.

competing fiat currencies operated by individuals rather than governments I meant.

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Hey, if all you is glorious revolutionary terror or a cleansing of keynesian-propped malinvestments be my guest.
Just don't pretend things will look rosy when you do it.

if all you want*.

best response here. Too bad leftypol wouldn't like it because you can make money off of it

we actively encourage our local petty-bourgeoisie, you can't fund a revolution through good intentions.

Except that drug dealer guy because muh rals

Can't wait for society and economy to collapse and for pornography to become the new currency of the post-apocalyptic world. Years of hoarding 2D porn will finally pay off!

Can you direct me to a version of this image that isn't made for ants?

images.google.com/

Honestly surprised the New Deal isn't bigger. Really makes ya think.

Can anyone explain how labor gets tranformed into value with cryptocurrency? Is it a function of the energy used in computing it?

Exchange value or use-value?

Exchange value is the total of all labor necessary to produce goods. At the very least it should include:
1) Labour that went into development of bitcoin as such
2) Labour that went in production of computer that does calculations
3) Labour that went in production of electricity

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Where are these figures from? Also, most companies payed back the loans they got from the government, plus interest.

images.google.com/

And I found this, which actually accounts for where the money went
projects.propublica.org/bailout/

Got this in human size?

Technically not a currency, a commodity

all curriencies are commodities.
They're commodities without a use-value.

Shut up, you don't understand what I wrote. Not all commodities are currencies. Not issued by a government or a central bank.

MAXIMUM COMMODITY FETISHISM!

the website doesn't exist anymore and every single one of the figures is absurd, I wouldn't exactly trust this

is this a reply to me?
Currency is the medium of exchange, who issues it has nothing to do with anything.

Yes, you, not only you are not able to understand the most simple logical passages and thus reply with nonsense on something I wrote. Also, you are a disgrace for the left, a dry pond of nothingness and ignorance.

A commodity, like gold, can be a medium for exchange, this does not make it a currency.

It is the government which recognize it which makes it a currency. The currency is a symbol of the state: most of available currency is issued upon the creation of private or public debt. The state guarantee the growth, thus the liquidity of the created value and the sustainability of the debt, directly, as a projection of his own international power.

Nothing to do with a mere commodity as bitcoin, at most useful as a volatility instrument for doing financial speculation.