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Okay, but Google only produces Zeroes and Ones.
My entire DB is nothing but Zeroes and Ones.
It is the people in the network of consumer/users that give information any value (and anything else) value.
This is the point. We have Digitized Photos and replaced Kodak with instagram/facebook.
We digitized Office Memos with Emails.
We now sign Digital Documents instead of overnighting packages around (having been in the Mortgage Business).

Now, we are talking about Digitizing Money and Money Transfer. I pay people throughout the world. It's a NIGHTMARE and frought with fees.
I look forward to sending them payments via Crypto. Unfortunately, it's illegal in many places, and it's impossible to convert out of in other places.
The Old Bankers will not give up control easily.
This is the beginning of the change.

I think we are talking past each other a bit. But it feels like respectful discourse, so I don't mind continuing.

The price of BTC certainly impacts the number of people who will MINE BTC. As the price rises, it attracts more miners. But if mining cannot break even, then people will do what I did. Just buy BTC. Like any investment, there are a range of people who do it, all with different RETURNS in mind.

But you are 100% correct. The difficulty changes, it's an adaptive system. It strives to find an equilibrium. I think it is genius. If it failed to do this, it would be too easy to game the system.

The floor, again, shows up virtually. If miners are stubborn because BTC is at some crazy low. They will pull the BTC and sit on it for a few months. I don't know many miners who are living in such a way, that they NEED the BTC payment to cover the electricity each month. Maybe it was just me... But I considered Mining as a way of DCA (Dollar Cost Averaging) into BTC via Electricity Purchases. I was buying energy, getting BTC.
As someone with SOME market experience. I want to collect this when others are selling (through lows), and sell this when it is rising.
Or, I just want to hold it.
Any miner who constantly saved 10% of the BTC forever is probably really happy. But have been pretty sad at times! LOL.

Also, these adjustments are not instantaneous, but I admit, I don't know how quickly they change the difficulty.

I do, from time to time, test the waters.

"impossible to create something that has neither inflation nor deflation"

My idea was to allow minting of new token ONLY when it is backed by something of value in the real world. The rule would be that it cannot be rehypothicated and must be owned outright by the person minting the token. Its value would need to be insured by a trusted party (insurance provider). In the event that the value falls below the value of the token, the insurance company (first) and the owner of the property (second) would be on the hook to (automatically) replace the devalued token with some other token that has the right amount of value.

The whole idea is rather long and difficult to explain in a short post, however, the reason why it will work is because the value of tokens would be held constant by the fact that there cannot be more tokens than wealth that can be bought and sold for those tokens. Additionally, value insurance providers will (with their contractually obligated actions) hold the token values where they should be, in case there are some fluctuations in the value of wealth backing the tokens. It would work similar to a stablecoin, except for the fact that actual wealth backs it and not USD and that everyone could mint it, provided that they own qualified property and have bought insurance for it. Additionally, minting would just mean that you are using your property as collateral for 'credit'. Once you 'pay back', your tokens will go out of existence.

"I would rather not engage in a futile pursuit."
Good. Please don't engage in this futile pursuit.

"I want my SAVINGS to be deflationary."

You wouldn't want it if you needed to borrow some money. You would be destroyed.

You don't want to have these surprises. The best currency is one which has neither deflation or inflation. It is fair to everyone.

"Innovation creates deflationary pressures. Once more people learn a technique, the price goes down, the offerings increase. Think PCs."

That is not really deflation. That is just prices going down for a certain good due to increase in its supply. Prices for other goods will either go up to compensate, or money/people will be freed up to create more goods in the system, making everybody more wealthy. We want this kind of thing to happen.

Deflation is when there is generally less money to go around than there was before. This causes ALL prices to go down more or less at the same time. It also causes economic issues/inefficiencies, which is bad. People get laid off for no good reason, etc. Deflation is a false economic signal.

Noone can save you from yourselves if you guys are unwilling to be saved. First, the masses have to admit they have a problem and be willing to accept the change. I see self-righteous people all over the place, full of disastrously wrong superstitions. When I try to persuade you guys of the falseness of your beliefs, I do not make much progress. The masses do not want to know the truth. They cannot handle it. "It is difficult to get a man to understand something, when his salary depends on his not understanding it." I would rather not engage in a futile pursuit.

Thanks! I particularly enjoyed the T-Rex manger.

It was supposed to be backed by gold/silver. Although, it is my opinion that it would not be enough. If I was to back a currency, I would allow the backing by any non or low depreciating asset under certain conditions, such as requiring that the asset is properly insured against destruction or loss of value and ensuring that no rehypothecation is occuring.

ThanQ FFA .i live in Eagan Minn and have posted about Colleen Rowley on this board with as much interest as you are getting. BTW +1 as someone downticked you.

I knew it before I checked the link!

Yaaaa-Hoooooooooooo
https://youtu.be/DfxcIGxedXc

What should the inscription be on the nuke? :D

My point exactly. Which is why the 2024 elections will bring to DC a valid electoral college in January.

And while theoretically possible the chance of 270 faithless electors is so slim as to be virtually impossible.

I don't really want to "play around," because i know when I'm over my head, but I did buy $250 worth of Bitcoin in 2017, gave $100 of it away to my family members ($10 each) and decided to go check to see how it's doing. Have done nothing with it at all, since.

It's currently worth around $2,200. Not too bad.

It took me a minute to see the "dinosaurs fighting over the table saw." Now I can't unsee them, hahahah!

This is just so horrifically ugly. Words cannot describe. The only thing I can say about it is that it is an admission that each and every one of those actors (and likely many more) were actually engaged in criminal activity. Our country is in big, big trouble.

The only permanent way to properly invalidate the Biden presidency is by "trial at drum head" with summary judgement and summary 'penalties' (hanging, guillotine, firing squad, etc.) handed out.

A FAIR jury would need to be impaneled, and I'm not being facetious, I really mean a fair jury. The evidence will be presented to a tribunal, the jury will hear the evidence -- NO SIDEBARS -- no excusing the jury, which will rule guilty or not guilty. The judges will then weigh the opinion of EACH juror in isolation, and impose sentence.

At that point there will be no protracted legal shenanigans, no lengthy appeals. The orders will be entered and sentences carried out. If the sentence turns out to be prison, the convict is thrown onto solitary confinement with NO CONTACT AT ALL at all for the duration. Really! Other than the guards, no contact, no lawyers, no spouses, no children, NO ONE. The convict is offered a cyanide capsule if they prefer.

A Deep State manipulated treasonous coup d'etat is not an acceptable or valid electoral college 'election' in any way.

Once they admit their treason, execute them so no future DeepState scum can pardon them.

Whether legitimate or invalid Joe Biden was elected in 2020, not President Trump.

The ridiculous interpretation of the 22nd might be be valid if the ELECTORAL COLLEGE had not chosen to use invalid certifications and install (elect) Sleepy Joe.

This is a great thread and I'm interested how each side of the argument is made. In order to understand Bitcoin you need to make the "Saylor investment in time studying it". Even after that, Bitcoin is emerging as platform for even more type of applications than monetary value itself.

Unfortunately what we're really up against here is a paradigm shift. You need to start thinking in Bitcoin in the denominator instead of USD(Federal Reserve Note) in the denominator. We have lived our whole lives thinking the existing way so it's very very difficult to change the underlying thinking. Thomas S. Kuhn wrote a book in the 60's called "The Structure of Scientific Revolutions". In it he discusses WHY it's so hard to change thinking. TLDR; most people who embody the existing thinking must pass away before the new thinking can truly take hold. Worth a read...

Loved the first Linerals. Unfortunately, they are still here.

Loved Betty White trying to tell the Hallmark Christmas movies apart. Well, Betty give it up because you can’t.