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mircea_popescu: jborkl_ i suspect a good chunk of the people mining today are mining to obtain bitcoin, not to obtain dollars.
mircea_popescu: nothing factual afaik. might ask the guy for your blog.
mircea_popescu: kleeck we might have been told the same by the same unreliable source.
mircea_popescu: who knows, in his social circle perhaps he is. obviously bitcoin is a little more demanding.
mircea_popescu: he's not really a catalogued troll, he's this kid who figures he's pretty smart
mircea_popescu: there's basically this stable of people i've humiliated over the years who somehow inexplicably figure that if they make the same types of mistakes moar
mircea_popescu: anyway, off to see the dentist. may your next hours be less painful than mine.
mircea_popescu: you laugh now, but at some point it went from 15 to 260
mircea_popescu: just as long as it doesn't do retarded shit like shoot up through 1k or w/e.
mircea_popescu: "why is it that resource allocation isn't done by a forum!"
mircea_popescu: ' give a shit what we think about it!!! you could heat all the poor african houses with all that electricity!!!"
mircea_popescu: i can't wait for all the something awful butthurt ensuing
mircea_popescu: conceivably it's not 100% accurate, but gotta use something
mircea_popescu: bitesak actually... ima put that in the trilema bylines :D
mircea_popescu: in the end i guess this woud be the one base conversion factor, sqA of silicon space.
mircea_popescu: i mean, obviously you can make cores that do sqrt(x) in one cycle
mircea_popescu: even if you take "full hardware implementation" : you can easy fit 1000 flop cores in the space a hashcore takes
mircea_popescu: and i'll look at the new graph and say... hey... i remember when i was discussing with azelphur
mircea_popescu: we've not jumped through actual mass adoption. if you grep the logs for last month's discussion about hashing bathroom tiles...
mircea_popescu: Perlboy nope. tried past 5 yeas, the problem is everyone will devalue.
mircea_popescu: no state HAS TO pay the poor. the poor are always last in line, and for very good reason : they're lesser people.
mircea_popescu: in actual reality, there will be no default, just the various "paying poor people to vote democrat" programs will collapse.
mircea_popescu: by their distorted reasoning, as there's not enough tax income to satisfy both of these, there will be a default.
mircea_popescu: in pseudo-lala crack cocaine pipedream the libertards in the us are living in, the first claim goes to welfare programs.
mircea_popescu: the situation ios like this : each state has some income as tax receipts, and some expenses. in actual reality, the first claim to tax receipts goes to servicing the debt.
mircea_popescu: pankkake well, in germany you gotta send kids to school.
mircea_popescu: don't piss off btc or else you may not have two codes left standing together.
mircea_popescu: i suppose this is the part us "regulators" will have to figure out soon enough :
mircea_popescu: basically bitcoin is currently drinking more computing power than all the rest of the computing world combined or some shit.
mircea_popescu: i recall the days when there were ups and down, those bumps you can barely see now