patricius

New to Bitcoin, I guess?

I will, once again, bring your attention to hashql, which is so pleasant to use. It's so minimal that it is almost more a pattern than a library. Try it out as an alternative to graphql if you are mainly querying a SQL database anyhow (although it can be easily configured to request data from other types of sources.) I don't think it can currently combine results from multiple data sources, but I think it should be within the realm of possible things

https://github.com/porsager/HashQL

I think it comes down to, if you read the history of the American Medical Association, that some doctors simply didn’t like a free market pushing down prices for their services.

No, not something better designed. Something augmenting Bitcoin to make it cheaper to transact while maintaining a base layer for final settlement that is secure and decentralized.

You leave out other characteristics that make Bitcoin an attractive economic good, when you think that matching or exceeding the security at a lower cost is a valid argument against Bitcoin. If it was all about power consumption, Bitcoin wouldn’t keep increasing in demand and price.

Look, you can theorize all you want about the inefficency of Bitcoin, but the market has spoken and continues to speak.

The miners pay for the power, and they believe it is not a waste to do so.

What you call inefficiency (I guess in terms of power consumption) is a misuse of the term in a world where value is subjective. It is efficient and necessary for the use case and value it provides. You can argue it is ineffecient compared to Proof of Stake for example, but Proof of Stake is a completely different system and has a completely different incentive structure.

I’m saying also that L2 (and L3, … Ln) is a way to scale the number of users without increasing power consumption. Every time you add a layer, there are other trade-offs for the benefits gained. But at the base layer you still have the benefits of not having a central authority censoring and controlling exchange of an economic good.

Maybe Lightning Network will scale, maybe not. But VISA or Mastercard could build on top of Bitcoin and allow many more transactions than the base layer does. You would use the base layer for final settlements.

Already now you can get a VISA/Mastercard and use that to spend Bitcoin. But of course, every layer on top of Bitcoin presents its own set of trade-offs in terms of trust and security.

What constitutes waste is completely subjective.

Value is subjective, so it is by definition wrong to say that something is objectively a waste. It depends on who you ask.

Your first mistake is assuming that the power used to secure the Bitcoin network is a waste. It is clearly not, since thousands of people believe it is worth paying for.

The second error is implicitly assuming that the number of people Bitcoin serves is correlated with it’s power usage. You could serve the same number of people as the banking sector does now without increased power consumption when you bring layer 2 or 3 solutions into the picture.

Really deep analysis. Thanks!

I know I’m welcome to escape the plantation, thanks. Still doesn’t make slavery right though.

The same way that ransom is the fee you have to pay for the privilege for someone to stay alive?

What more do I need? I just need the world to get rid of extortion.

He means that there is no good argument for getting the money needed for the things you mentioned through taxes, since taxes are theft.

Use fzf for file navigation and perhaps vim-vinegar. When you open Vim, use :cd to change to your project directory and you’re ready. Use :term to start stuff, e.g., a local web server or whatever. Use fzf to navigate between open buffers.

There was no lag. You just didn’t see dramatic price increases in consumer goods. But you saw substantial increases in the price of stocks and real estate for instance. Also in healthcare and education.

Now new money is being spent on consumer goods while supply of goods and services have been severely restricted during the corona panic. Of course soaring energy prices is now also contributing.

There is an option to close the terminal buffer when the terminal process exits, e.g.,

`:term ++close <cmd>`

Better than :term in Vim 8? How so?

Right. We could choose not to buy from them, helping them stay in poverty. That's always an option.

... or fractional reserve banking

When Austrians talk about inflation, they specifically mean an increase in the money supply. They also mean this today. You said in your original post that for a cryptocurrency to be inflationary/deflationary, it needs a governing body adjusting the supply - which is not correct using the original definition of inflation. And even if you use your definition (increasing price level), it is still just an effect of inflation (increase in money supply) that may or may not be caused by a governing body.

Before suggesting somebody read an introduction to economics to learn about inflation, please try to take a deeper look into what inflation really is:

Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check. But people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. [1]

[1] http://mises.org/efandi/ch20.asp

Inflation is not price level. It is increase in the money supply. An increasing price level is the result of inflation. By definition gold is inflationary since its supply continues to increase.

Well, not exactly. For instance, if you see gold as money, it is inflationary because of its increasing supply, which is not decided by a governing body, but by the supply created by gold mining.

Bitcoin adjusts its supply automatically and without interference from a governing body. It is deflationary since it's supply is capped and because it's purchasing power increases continually.

Vim's :term command has become my go-to way to open up a terminal nowadays. It gives you nice terminal emulation, but also lets you stay in Vim and use all the Vim keyboard mappings. When a terminal window has focus, you can go into Normal mode with `Ctrl+W N`, which will let you search and yank stuff like you're used to.

Would Zig be considered suitable for application programming? Or for programming a web API over HTTP? Or is it mostly suited for low-level programming?

What should happen for you to say that Bitcoin has taken off?

It is what people values it to be. We cannot define it to be a particular thing.

Some people see it as digital gold. Other people sees it as a type of money.

There are practical reasons that getting rid of currency - or money I assume you mean - is a bad idea. It would be much more difficult to exchange goods and services if we had to barter for instance. But perhaps you have some alternative in mind that I haven't thought of.

Increasing prices can be seen in several places, most visible of all, the stock market. CPI is not necessarily a sure indicator of an expanding money and credit supply.

My allocation

  20 % in physical gold
  10 % in Bitcoin
  10 % in gold mining stock
  30 % in cash
  30 % reserved for the coming stock market crash (to pick up cheap blue chip stocks)