CryptoPonzi BTFO

Bitcoin Mining Was Just Banned in a Small Town
archive.is/FHDB1/
POWER WASTING GPU HOARDING PYRAMID SCHEME NEO-GOLDBUGGERERS PUBLICLY EXECUTED SOON

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fair-coin.org/en/ecological-blockchain-consensus1
fair-coin.org/en/faircoin-faqs
weforum.org/agenda/2016/08/negative-real-interest-rates-are-nothing-new-so-why-the-fuss
youtube.com/watch?v=tVj0ZTS4WF4
epi.org/publication/the-zombie-robot-argument-lurches-on-there-is-no-evidence-that-automation-leads-to-joblessness-or-inequality/
scmp.com/news/china/money-wealth/article/2042441/chinas-middle-class-rise-more-third-population-2030-research
twitter.com/NSFWRedditImage

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Who indeed?

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It's kind of scary how the can make running certain programs illegal.
Does this mean it could be possible to create a law that bans running non-free software and to impose a $1000 fine per day of use of non-free software?
Why didn't they just set a cap on how much power you can buy?

It's humorous that they think they can enforce this.

Yes, certain kinds of software that exist solely to generate pyramid money from rubes.

Almost like this is a business, rather than technology, issue.

Remember, the floor is zero (0)

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Outright blockchain ban when?

Obsessive miners are assholes who, initial investment into GPU farms and power bills aside, want and hope to make money literally out of thin air. Hopefully their losses are as high as possible.

Bitcoin mining was not banned.
Exploitation of the town's resources for retarded purpose was.

Exploitation of the town's resources was banned via banning bitcoin mining. They could have just raised the prices on heavy commercial use, but they did not. There's another commercial entity here that bribed the city mayor/council to ban bitcoin mining instead and keep the prices low for them.

If they want to they effectively can. They can get any big mining operation, small ones don't make a difference.

They may want industry to settle in. Bitcoin isn't a good industry, it employs nearly nobody and generates little no taxes.

that's a good point. i wonder how much this really affects personal mining though. the article mentions commercial zoning permits, I imagine warehouses filled with miners being banned, but I can also see them coming down on anyone with a massive power bill on their house and declaring it not zoned for that.

solar would make it irrelevant but if solar was cost effective miners would already be doing it. more proof solar is a meme in it's current state.

It was illegal to have certain programs on your hard drive while traveling out of USA, because cryptography was considered military tool and export of military tools was forbidden or something.

Back then debian had "non-us" mirrors (obviously outside the US) where you could download those dangerous codes.

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...

I thought it was backwards where the US had encryption, but couldn't include encryption in software it exported to other countries.

Encryption was classified as munition for historical reasons (way back, only the military had crypto, and before cheap computers it made sense average people wouldn't need it). That t-shirt contained RSA, making it legally a munition. The point wasn't to travel overseas with it (the code isn't that hard and the algorithm was public), I think, but show how ridiculous the whole situation was.

Yes, that's how it was. The problem for distros is they wanted anyone, anywhere, to be able to download, so they couldn't host crypto packages in the US or they'd be breaking the law when someone downloaded from elsewhere. I don't know how others handled it, but debian simply hosted these specific packages outside the US (which was perfectly legal if the teams behind them weren't working in the US, but I don't know how legal it was for a US dev to contribute code).

literally means nothing

Would you be genuinely surprised by getting detained by Homeland Security and your shit thoroughly searched and/or confiscated because of you wearing a "this shirt is a munition" shirt at an airport? Conversely, would you be surprised by getting bit by a dog after poking him with a stick?

How did the distros containing the "offending" code (no matter if source or binary) legally leave the US in the first place (it had to somehow for it to be hosted elsewere)?

...

kill self

It wasn't just software, but hardware, that was restricted. I remember during the 90s tech bubble, when a lot of startups would implode shortly after IPO and be replaced, there were constant bankruptcy liquidation auctions for computers. Since I lived in central California where a lot of the action was, I'd constantly upgrade cutting-edge Macs and accessories at firesale prices for years on end, often getting so much stuff I'd sell the rest (and my older machines) for a tidy sum via newspaper classifieds. As these auctions kept happening, more and more often I'd see shady looking Arabs & Slavs there paying outrageous prices (sometimes higher than retail!) for whole lots of machines, a few times I even resold them computers in the parking lot after they missed the auction.

Of course, eBay (a total sellers market) put an end to that eventually, and the deals I got at those liquidations were never again to be seen.

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Interesting rebuttal with zero substance. They can't possibly know who is mining and trading cryptocurrency without going door to door and this isn't Europe. They can't do shit.

It's piss easy

back when apple made good hardware

0/10

What about freedom of speech?
Am I not allowed to have whatever shit written on me?

Yeah, you go do that.


Baby steps. First we come for the ASIC miners, then FPGAs, and finally the most utterly repugnant GPU/CPU-only coins.


Interesting question. From what I understand, there are still serious legal challenges about whether or not official secrets and espionage acts have constitutionally valid power over civilians.

Are you underage?

Holla Forums is so contrarian nowadays, it’s far beyond cringe-worthy.

Bitcoin is literally a Ponzi scheme and the less people buy into that, the better.

By that logic isn't any investment where you make money a Ponzi scheme then. Since the money isn't magically generated, it had to have come from some other person.

how exactly is that relevant?

Because typically Ponzi scheme's are painted in a bad light and the way you phrased your comment made it sound like bitcoin was bad, but not other forms of investment.

are you retarded?

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The difference between a Ponzi scheme (or other pyramid scheme, legally speaking, "franchise fraud" in burgerstan) and legitimate investment, is that investment seeks to raise funds for some economically productive enterprise, whereas pyramid schemes simply seek to recruit infinite numbers of rubes. Per the FBI:
That fits cryptocoins to a tee.

To be crystal clear, I am not opposed to decentralized, anonymous, secure, electronic currency. I am, however, opposed to deflationary pyramid schemes, especially those which hurt people other than the suckers that buy in, through wasting energy and diverting valuable commodities such as computer hardware.

Criminals are already starting to target cryptomining companies to steal GPUs in the shittier parts of Canada so small towns might be trying to get rid of miners since it might attract crime.

lapresse.ca/actualites/justice-et-affaires-criminelles/affaires-criminelles/201803/13/01-5157205-deux-mineurs-sequestres-ligotes-et-asperges-deau-de-javel.php


At $6-10k and already those absurd predictions of people who casually commented or joked on the internet about cryptocurrencies being kidnapped and tortured to death for their non existent cryptowallets seem plausible barely 5 years later.

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Your gross ignorance of societal principles is typical of retards and minors, and I hope you're not retarded

nice trollin'
10/10

My condolences

Wow what a total waste of money, Could have spent a third the "investment" and had more mining power.

The thing is though it's a little off. It's not the crypotocurrency. It's the fucking graphics cards. That's where all the fucking money is.

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FUCKING CRYPTONIGGERS AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

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What is this from?

You realize there are a gorillion alts out there that let you try out different flavors of the bitcoin formula, don't you? If you think you or someone else does a better job then bitcoin, you should put your money where your mouth is.
Bitcoin is deflationary only because that is what Satoshi correctly predicted would be the money to which people generally gravitated. Sound money is deflationary.

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...

Imagine if all that power could have been put into Boinc/WCG distributed computing projects. We could have found cure for all forms of cancer and found all ayy lmaos in observable part of universe.

Which consumes more electricity? Industrial machine which can't even be plugged into a 120v socket, or GPU bought with Hot Pockets money? Use your noggin you silly cunt.

You mean like the Jews are doing right now and have been doing for over a century in America? Schlomo detected.

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you need to go back to reddit

GIF images are inherently bloated.

Go read "Wealth, Virtual Wealth, and debt" by Soddy Frederick, the first edition is old enough and free.
This will give you a good base on currency.

At least it isn't amd.

How's that GPP going for you, pal?

You have no idea how fake money actually is. There is more "money" in the form of debt than exists on the entire planet. All of the money is fake, and I don't mean "fiat" fake either. I mean there physically isn't even enough paper to represent how much money doesn't exist. When your bank says you have x-amount of money in your account, they are LYING to you, they are bluffing 100% in the hopes that you don't actually go check because the day you and everybody else does the financial system would collapse and we would witness a depression like no nation on the planet has ever witnessed before.

Here's how it works:

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Yeah, and every single one of them is inflationary. There are a handful that don't depend on mining, like FairCoin, but that's the best improvement I'm aware of so far.
Deflationary "money" isn't money, meaning a medium of exchange that people readily obtain and spend, it's fake investment dead air in the flow of money, which discourages holders from seeking and creating capital investment opportunities as aggressively as possible. That's why all currencies are intentionally designed to be mildly inflationary.
Hoarding is a disease, private possession of gold never should've been legalized again.


Excellent rec, though for our present times, "A Primer on Macroeconomics for Sovereign Monetary Systems" might be somewhat more relevant.


It's called fractional reserve, and without it, capitalism couldn't have happened. Also, credit and money aren't the same thing, private banks can only create credit, which can't be exchanged for money (electronic or physical) unless the bank has enough, while only the mint can create actual money.

Of course, that's why everybody should stop posting them, and better, delete them too.

I have blocked them from being downloaded anyway. I am just pointing that you're doing stupid shit.

Try picking one. Why should I support an inflationary currency if I have to wage slave? It's another tax that just makes me poorer. It undermines the entire concept of property rights because my money can be taken away at any time.

The fact that they came up with a fancy Latinate name for it doesn't make it less of a scam.

You're really breakin' my heart here.

Deflation leads to market collapse. Fun fact, to get market to stagnate you don't even need to come to zero inflation, a too small inflation is enough to cause it.

Source: pre-war America, post-war Japan.

You see, there's a difference between issuing fiat currency and mining crypto currency. Former is done for a purpose of supporting a carefully calculated inflation rate, and latter is done out of greed pure and simple. When governments start printing money out of greed, their whole economy crashes soon after. There's no reason to believe it's not also true for crypto.

This is bullshit. It's called the business cycle. Monetary policy is just one part of it. The Central Banking system is dying because without constant new credit then the whole system becomes deflationary too. Unless the FED prints money. But if they can print money then why can't I get free money? Why do the bankers? This is bad because it undermines the whole idea of property rights.


The best thing about cryptos is that you can always create another one. The system will never be without money if we are in a 100% crypto world. Your logic assumes only Bitcoin.

Additionally. For currency to inflate, there doesn't even needs to be any excessive (or at all) money printing. External factors alone can tank a currency, see Venezuela - for a good while they were spending more money printing cash than it is worth which is a net negative flow of money to the economy, and yet the currency was still inflating like mad. If your currency is doing too good, you may need to print money to keep inflation rate high enough. And if it's doing bad, you're issuing money to cover the shortage of bank notes, it's an effect of inflation, not the cause.

It's not bullshit because it actually happened under those circumstances, and did not happened under other circumstances ever. This marks very strong statistical correlation, to the point that you can't divorce the two.
The bankers get jack shit. Printed money is the government's property. See
So you can print money forever? Didn't you just made an argument against inflation? So how that's supposed to be a good thing?

You are equating different cryptos as the same thing and this is a mistake. Different coins have different properties so it is not the same thing. Printing money is theft no matter how much you dress it up. The bankers get money through bailouts, tax payers backing their bad loans, and the FED injecting money into the stock market which the bankers siphon off. Fuck off you shill.

Uh-huh. So you don't understand cryptos and don't understand economy, your arguments are self-contradictory, you want free money out of thin air and you complain to no end about things that are only natural.
>>>/oven/

The governments are also all indebted to banks so they, and thus us, pay the bankers rent that way too.

Found the Holla Forumstard, go back to sucking off your corporate masters.

The money is not coming out of thin air. People assign value to BTC. To acquire cryptos real work is being done, mining which consumes power and physical hardware, unlike the US dollar which is created out of thin air.

You're not fooling anyone, kike.

Would you look at this dumbfuck nigger.

Even fiat USD carries a promise that the bank can exchange it for actual bullion. Bitcoin doesn't even have that luxury.
And how is that power and physical hardware initially paid for you stupid fuck?

Printing dollars also consumes power and requires hardware (such as printers). The result are physical dollar bills, while the "result" of coin mining is just bit patterns which only satisfy the condition of being solutions to some algorithm, and have no practical use whatsoever. Assigning value to them is just as arbitrary as assiging value to dollars, and dollars do have some practical uses if necessary (such as wiping your ass or making a campfire).

Crypto is a system where every transaction needs a third party which takes a cut in order to complete. It's clearly anti-consumer to pay someone a cut of your unrelated transaction. But bitcoin proponents don't see them as users of the systems, they want to be the third party that takes a cut off unrelated transactions.

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It's the same with credit cards and anything online, the consumers eat that shit up.

Uh no sweetie, if I use my own money (no credit) then I don't pay shit to anyone. My only fee is the prepaid card issue & support fee.

Wrong. The fee is part of the regular price that even those who use cash pay. You think you are the one winning when dealing with banks? How delusional are you?

If you're a wageslave, inflation is pretty much irrelevant, since the prices of both labor and consumer commodities are effected equally by currency inflation (it's true that the "real dollar" price of labor has stagnated, but this is due to neoliberalism, not inflation). If you have substantial amounts of savings, inflation encourages you to put them in an interest-earning deposit, better yet an investment instrument such as a bond or fund, or best of all to engage in entrepreneurship and seek out promising enterprises for investment.

Seriously, look up "free silverites" and the "cross of gold" speech, deflationary money was debunked over a century ago.


Not saying capitalism is great, but it's the system we have to work within at the moment, and a step up from feudalism.


TOP CONMAN

The actual source of fiat money's value is that it's the only legal tender for paying taxes. If taxes didn't exist, there would be no demand for dollars.

Bitcoin isn't a "promise" like a paper dollar is. Bitcoin is the currency itself. There's nothing to exchange it into.

The practical use is that it ensures the integrity of the network. If everyone stopped mining, it would be trivial to execute a 51% attack on the network.

You can send a transaction with no transaction fee if you want.

There's no inherent reason why a cryptocoin couldn't simply be "pre-mined", eliminating the pointless waste of mining.

circular argument discarded

Mining is the process which adds transactions to the blockchain. Are you saying the blockchain should already contain every single transaction that will happen in the future. I don't believe we have the technology to predict the future yet.

Maybe you misunderstood me. Mining does not ensure the integrity of mining. If I had said that, that would be a circular argument. If you reread what I said, I explained that mining ensures the integrity of the bitcoin network.

Which also believes in printing money. The whole system is fundamentally dishonest and always leads to collapse. The cryptos represent the first time in millennia that we have the ability to try something new in the banking space. Advocating for printing money is the past.

It exists solely to encourage excess calculations for the sole purpose of pyramid scheme activity, rather than just to execute transactions. It's not strictly necessary, and cryptocoins do exist without it, e.g.:
fair-coin.org/en/ecological-blockchain-consensus1
Granted, all such coins I'm aware of are still deflationary, and of course this doesn't solve the transaction efficiency problems that exist in all current blockchain tech, but there are a number of potentially viable solutions in the works that could make blockchains work for useful volumes of transactions.


Neoliberalism has little to do with monetary policy. It consists of fpur things: 1) Offshoring. 2) Mass economic immigration. 3) Privatizing natural monopolies. 4) Deregulation.

Neo-liberalism needs cheap interests to work. Otherwise how can you pay for
1) Offshoring
2) Mass economic immigration aka gibs
3) Privatizing natural monopolies
4) Deregulation
I'm going to add a fifth item to your list.
5) Leveraged buyouts
The Central Banks manipulate interests rates down for corporations and governments.

I'll agree the two certainly don't conflict. The loans handed out to encourage it greased the skids, but for instance simply stripping down and selling off domestic industry provided a great deal of capital for establishing cut-rate foreign factories where slave labor was readily accessible.

Notice how to create a new node you have to go to a centralized source. Bitcoin is completely decentralized.
If you have to trust a centralized source, you may as well store the money in a regular database like PayPal does.

Sort of. The central authority is itself decentralized, consisting of current "verified" nodes in a democratic assembly, which can vote admit or reject members based on compliance with rules passed by the assembly. The identities of these verified nodes are concealed amongst all other nodes on the network, and as such are anonymous

fair-coin.org/en/faircoin-faqs
It also says that these eleven people have the ability to add or remove nodes. Unlike bitcoin where everyone has the power to join / leave the network or even change blockchain parameters, for FairCoin it's all up to a centralized comity of 11 people.

That's the point I was trying to make m8, are you sure you're in-favor of bitcoin? Because you can't seem to present a good case for it

You can fuck right off you boot-licking faggot. The government has no right to tell me how much gold I can own. The government has no right to tell me what kind of software I can or cannot run on my computer. The government has no right to tell me which currencies I can or cannot purchase. The government has no right to do any of these things, because I am a free citizen, not a fucking serf. The first government official to try and impose such unconstitutional laws on me gets a bullet to the head.

These admins merely act on the decisions of the general assembly. Changing parameters on BitCoin causes a fork, which this democratic structure is intended to ameliorate the need for, and which would also be the worst-case scenario for abusive admins.


Maybe all that gold would be better off as an industrial feedstock, rather than hoarded in a pile under your mattress for you to masturbate on.

It's certainly more of a currency than the debt we currently use. At least with gold, I know that there's only so much in existance, and that (((certain individuals))) aren't creating "money" out of thin air through fractional reserve banking.

And? You gonna argue that the government should have the right to confiscate anything they wish if they determine it would be "for the greater good?"

My private property is my private property, and I will do with it whatever I damn well please. Just as everyone else can do with their private property whatever they please. If you want to give the government the power to confiscate anything at will, just put on a slave collar and admit you enjoy being abused. Unless you envision yourself as the one in charge of such a government apparatus, in which case I'd advise you to suck start a shotgun so the world will have one less sociopath in it.

Luckily I live in America, where citizens are at least for now able to own certain pieces of private property that prevent the government from confiscating their other private property, at least outside of shithole failed state tier states like Commiefornia.

Learn MMT
Only exists because society has decided, for our own collective benefit, to enforce the boundaries of such a concept. What benefit is there to pyramid schemes hoarding"hedging" resources instead of engaging in productive capital investment?

This is your mind on Keynesism.

No, it exists because my AR-15 says it exists, and I've got over 10,000 notices, to be mailed out at 3,000 fps upon request, informing potential hostiles of my intent to preserve what is mine.

I don't give a shit what the benefit is. Again, if I want to pile up all the gold I can buy and masturbate all over it, I damn well will, and if anyone feels so strongly against my right to do so and wants to take any action to prevent me I will ensure that they never have such feelings (or any other feelings, for that matter) ever again.

>(((productive capital investments)))
Sure thing Schlomo. Giving all my money to the banksters so they can give it to someone else, all while promising me that the money totally still exists because they've written down a number on a slip of paper, is totally a good investment.

Old meme. Debt denominated in a currency, "owed" by the issuer of that currency, can simply be paid off with more issuance, and inflation taxed away, eliminating it without a ripple through the flick of a pen.
You're outnumbered millions to one, if you weren't, you and your fellows would've already voted the Fed out of existence.
An interest-earning deposit account is the exact least profitable of investments. Inflation is intended to force big savers to aim a little higher, so the economy doesn't stagnate and die from their autism.

This is the end result of fractional reserve banking. Runaway inflation causing a loaf of bread to cost a million dollars, all paid off by 90% tax rates.

Doesn't that just sound like such a fun world to live in?

I don't know if you're frum Yurop or some shitlib part of America, but I don't think you're aware just how much of the country hates your guts.

And what gives the government the right to force people to buy something, you sniveling little jew rat?

Which can't occur if that money is immediately taxed away, since fiat money doesn't go into some magical "gubmint coffers" before being "spent", but is instead deleted from existence, and all funds required for budget outlays simply created et instantio.
Whose, the fat cats trying so hard to avoid investing money in the real economy, we're forced to issue negative-interest bonds to pry some loose?
>And what gives the government the right to force people to buy something
The demands of the people, that's what eminent domain is for, after all.

Ah, so people totally won't panic-sell dollars when they hear that the government is just deleting all its debt by printing trillions of dollars.

Also,
Ah, so we'll just confiscate $20 trillion in other peoples' assets to balance out the $20 trillion we print.

What is it with leftists and trying to make their shitty economic systems work by stealing everyone else's shit? It's like you think you're entitled to just take everything everyone owns, because you think it's for the "greater good."

I've made up my mind on you, jew rat. You're clearly sociopathic, what with the whole "I should get to take whatever I want because other people are merely stepping stones to be used in the never-ending quest to achieve the Greater Good (TM)".

So that's how leftists define working class Americans...

Funny how commie societies always moan about how they were "forced" to restrict peoples' rights because those dang-dirty serfs had the gall to disagree with their vision of the Greater Good (TM).

Funny how I don't see the people clamoring to ban gold or confiscate $20 trillion in assets to pay off debt that never should have been racked up in the first place.

Even just their money might not be enough to satisfy people anymore

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My only wish is that you will be the one to try to take my shit, so that I can have the satisfaction of seeing the look on your face as several softball sized holes sprout out of your chest.

Waiting for that day, bucko.

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Laughable
en.wikipedia.org/wiki/Eminent_domain

Is this supposed to be some kind of revelation?

First person to step foot on my private property without my consent gets ventilated. The government can try to take my shit if they want, and maybe they'll kill me in the process, but I can guarantee you that if they were to try it, there'd be a lot of little kiddies crying that night because Daddy Spook didn't come home from work.

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Confiscating $20 trillion in assets is not "just compensation", Holla Forums.

Rewarded as a traitor deserves

Is this the same logic you use to suggest that blue collar workers are the bourgeois?

You still haven't explained how you're going to confiscate that $20 trillion without a lot of government officials being rendered permanently horizontal, BTW.

What delusion compels you to think that canceling US sovereign debt, primarily owed to the large institutional holders of Treasury bonds, would involve anyone other than those institutional bondholders?

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Because you specifically mentioned using taxation to prevent hyperinflation when you destroy the value of the US dollar by printing $20 trillion to cancel the debt.

And why would taxes targeting greedy parasites have any bearing on anyone else?

If by "greedy parasites" you mean the average Joe, sure. Then again, jews like you really do seem to hate the working class, so maybe that is your idea.

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At an airport it could be a problem (personally, I wouldn't risk it, airports are bad enough without you actively trying to give them a reason to ask you if you're really that stupid), although the guys there probably wouldn't know of the ban and wouldn't care what the t-shirt said (remember it was before the Patriot Act, you could even carry dangerous chemicals like water with you). But outside the airport it'd be perfectly legal, just like having crypto on your computer was legal so long as it didn't leave the country.

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Why does that image have SUV hidden in it?

like steg?

no

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do they not understand that the US government borrows money to operate and doesn't have a net profit?

False on at least two levels:
1) Sovereign "debt" denominated in the fiat currency issued by that sovereign exists only so long as the sovereign wishes it to, as that debt can be shrunken or eliminated at will through inflation.
2) In the case of many countries, including the US since 2010, sovereign debt has such a low interest rate that it is exceeded by inflation. This means every dollar of "debt" the US government takes on actually earns profits, from investors, right into the taxpayer's pocket:
weforum.org/agenda/2016/08/negative-real-interest-rates-are-nothing-new-so-why-the-fuss

And what the fuck do you think is going to happen when we say "whoops, we're not paying shit!" No one will ever lend money to us ever again, because they know we won't pay them back.

So what will we do when our current government, which runs trillion dollar deficits without all the programs leftists want to implement (and this with the average american giving one third of their income to the government!) suddenly can't borrow anymore? Raise taxes to 100%? I'll say it again: fuck you, you goddamn bootlicker. You're all the same, you far leftists and far rightists. You just want the government boot placed firmly upon your neck so they can "keep you safe" and provide you with all the bread and circuses you need to keep the populace docile.

I want to see you try and live when a loaf of bread costs a billion dollars. I really, truly, want to watch you suffer as you slowly starve to death. You'll probably still bleat away about how "none of this is a problem! The government can just make it all go away at will!" as you're dying, like the good little True Believer that you are.

the central bank is de facto independent. if the government seizes the central bank it would destroy its international credit and due to the fact that it is constantly borrowing to fund its spending would lead to a national collapse.

Given the fact, as demonstrated by negative interest, that's exactly what we've been doing for years, and investors are still lining up to buy those bonds as fast as we print them? I think absolutely nothing is going to happen.
As I stated above, this is countered using taxes. In fact, aside from creating demand for fiat money, this (destroying fiat money to fine-tune inflation) is the sole function of "taxes" in a fiat system, since outlays are actually funded by simply creating fiat money from air.

Hyperinflation can only occur if the obligations driving it are denominated in a foreign currency, which obviously isn't the case for the USA or other major economies.


Central banks are only independent insofar as they're supposed to remain aloof from the interests of individual political administrations in favor of a longer term policy. Responding to high debt or taxes with inflation is precisely one of their routine intended behaviors.

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Seems to be a Russian nonsense song.
youtube.com/watch?v=tVj0ZTS4WF4

So what do you intend to do with the inflation exactly, since today fags seem to be pouring it into various meme assets such as real estate and crypto instead of it actually growing anything like it's supposed to.

Not for the last hundred years it hasn't, retard.

communism will win. the buttcoin was the last hope of the ancap tinfoils. and now that its proved to be a complete failure as a means of exchange it will fade into obsolesence. the banks just used the block chain tech to improve their existing systems. the coins have no purpose.

eventually due to the automation the taxes will need to be raised on the bourgeoisie business owner class to pay for UBI. this will be implemented some time in 2021 after orange hitler gets voted out in 2020.

You can still to this day exchange currency for bullion though, you fucking retard. We still mint gold coins. The difference is our currency runs under the assumption that only a small percentage of people would want to do that. Because the reserve does not have enough gold to pay every American.

Wouldn't expect a bitcoin fag to know anything about how currency works though

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The offending packages were developed overseas.

No, you stupid fucking retard. There is no bank in the country that will exchange your monopoly money for gold. The dollar has not been a representative currency for fucking decades now. The phrase "fiat currency" literally means that it represents nothing. Go fucking try it at your bank and tell us how it goes, you stupid retard nigger.

You need a LOT of GPUs if you want to make decent money with them.

Bully them with incentives and penalties to execute infrastructure upgrades and other useful, aggressive projects. And the threat that if they don't do it, we'll be forced to tax them and direct funds to the task ourselves.


epi.org/publication/the-zombie-robot-argument-lurches-on-there-is-no-evidence-that-automation-leads-to-joblessness-or-inequality/
If Jevons' Paradox were going to break down without "strong AI", it would've happened a century or more ago.
Even if America gets teh zucc, I have the sneaking suspicion UBI will be implemented as some sort of end-run around minimum wage, set just far enough below a realistic poverty line to create an underclass of deprived serfs, and bring back the "truck system" of "company towns". It won't be Bitcoin, but mark my words, corporate play money is going to happen.


That's not how metallic currency standards worked. "Conversion" referred to a given number of dollars always being directly convertible to a fixed weight (1.5 grams per dollar before it was eliminated), now all you can do is buy gold by value like a sack of potatoes.

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Everyone hates tolls though, unless you're going to make them do it for a loss.

The last few years showed that the banks are perfectly happy with borrowing money from the federal government and not using it on anything useful except for bubbles.

Then they just move their money out of the country. Also due to corruption whenever the government tries to spend money on something it needs everyone in the supply chain milks it for the maximum amount of cash possible.

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That's not a very realistic proposition for a hegemon like the US or Europe, if the choice was made to kill access to tax havens. What are they going to do, sell consumer goods to the Chinese?


Old jobs dying in favor of new jobs. For instance paper pushers being replaced with keyboard jockies.
Overall number of jobs, regardless of profession.

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In most cases it's fewer new jobs than there were old jobs though. For example a dozen miners being replaced with one machine operator.

What new, revolutionary job will the burger flipping robot create by it's, ahem, "displacement" of it's human counterpart? What job did the factory robot create for it's human counterpart?

False, read the article, "automation" is linked to job growth.

Mechanics, technicians, stockers, inspectors, etc. As in Japan, the dispersal of fewer larger restaurants into more smaller vending machines will lead to increased volume due to convenience and cheapness.
Chink ant people child slave

Ah, fresh and dank memes my friend.

All of those are already things and the numbers cannot possibly rise enough to keep the majority of jobless people in jobs.

Well, consumption might go up but if the money and job numbers don't follow track it doesn't matter much does it? We saw it with the overseas-ing of American factory jobs. The only thing Americans got from that really was jobs in the safety industry slapping a sticker -- excuse me, 100 sticksers -- on a ladder telling you not to be retarded.

Not only do we have studies shining a light on this reality but history itself says it's a bad idea.

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Offshoring was fundamentally different from mechanization, because instead of increasing productivity, it outright substituted expensive labor with cheap labor coupled an overall decrease in mechanization.


When you hear stories about "China's 140M-strong middle class", keep in mind that group is usually defined by having an "annual nominal disposable income per capita" greater than US$10k. For comparison, that number in the US as a whole is about $45k, and about the same in Japan, Australia, Canada, and most of Europe, whose combined population is about a billion:
scmp.com/news/china/money-wealth/article/2042441/chinas-middle-class-rise-more-third-population-2030-research

3rd-world consumer markets do exist, but they're very raggedy ass.

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That's some primo good goy brainwashing right there. The concept alone is staggeringly stupid, and conjures up an image of some poor sod throwing money out the window while the jews on the ground floor catch it in their hats and umbrellas.