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Posts posted by Stive Pesley
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8 hours ago, Crewton said:
Apologies if I've got this wrong, but surely when the rewards for miners halve, the unit cost of mining doubles along with the environmental cost per unit, making bitcoin mining a distinctly un-green enterprise?
Correct. Until they figure out a net zero way to mine. Which is essential if bitcoin is to have a future. If nothing changes in terms of energy generation prices then after the next couple of halvings mining will likely stop as uneconomical
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1 minute ago, Chester40 said:
every Carlisle attack is going to be stressful.
Both of them
They have averaged less than one goal per game this season, and we've conceded the fewest goals in the league (even less than Pompey)
Not to be complacent, as stranger things have happened, but as long as we stay focussed at the back we will be fine
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1 hour ago, NottsRam77 said:
Re mining wise and no More coins
theres circa 120 years to get through before that happens. Bitcoin has come a stupidly long way in 15/16 years from geeky internet magic money to a traded global asset that’ll soon be appearing in every pension fund on the planet.
a lot can happen in 120 years lol 😊🙌
Yeah - my point was really that the last 100 years of mining is going to look nothing like the first 35 years of mining, as the halving becomes an ever smaller multi digit 0.000n per block and the number of remaining coins dwindles down to virtually nothing.
It's not going to be the gradual change that you might imagine when you think of it being "120 years until the last coin is mined".
It's an exponential shrinking of the supply. By 2040 - BTC as we know it is largely done and it will become a very different beast
Which is probably a good thing - as once the supply stabilises to hardly anything, then so might the price and it may become a useful asset rather than just a speculative one.
I wouldn't bank on it though! (pun intended)
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3 minutes ago, cstand said:
The change from Twitter to X obviously will be a slow process but change is happening that will increase users.
https://help.twitter.com/en/using-x/direct-messages/audio-video-calls
Great! They have added a feature that literally every other app has had for years...
Who is going to switch to using Twitter for this, when they've embedded the use of other apps for it?
What is his market differentiator here that will convince people to change apps?
Stuff like this really just underlines how much of a dead duck the app is. What will he add next? A calendar function, or maybe Snake
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6 minutes ago, cstand said:
on what planet is it a "news app" and which 161 countries?? The lack of a source makes it ripe for some serious community notes!
I assume that this one of his shadow accounts? This is a far more interesting tweet. I'm wondering if the one you posted was a honey trap, as the vast majority of replies are engagement farmers -
10 hours ago, cstand said:
Interesting - but does anyone actually use Twitter because they think "oh I hope that I get some ads targeted at me that will make me want to buy something"? Most users will block the accounts of advertisers anyway. It's not what they want from the app
The fact that they now have some sort of smoke and mirrors AI which allows "algorithms to reach people beyond your targeted audience" sounds good for the advertisers, but bad for the users and will turn them away. Which in the long run is bad for the advertisers. All feels like a death spiral to me -
Definitely going to be interesting to see if the halving follows previous patterns. My gut instinct says it won't, but I don't know if it will be better or worse! It's the first halving event since the ETFs got involved, and I suspect that will be influential in a way that we can't predict yet
The next 16 years should be an eye-opener. By the halving in 2040, the reward will be down to 0.09 blocks and there will probably only be a couple of hundred coins mined per year. From there on in - the last 100 years (till the predicted final BTC in 2140), the supply of new coins is going to be so close to zero that we reach the end game. When there is no more supply, and no mining to be done. What do we do with these bitcoins? 🤔
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17 minutes ago, NottsRam77 said:
Essentially yes absolutely
this is … with time part of the catalyst / driving force for the post halving price pumps that weve seen
u could view it costs the same amount of energy to get half the reward .
but its the same difference 👍
Thanks for confirming I've not missed the point
Although I understand the technical concept of the halving and the reasons for it - it's a weird one that doesn't translate at all to human behaviour and our concepts of money/work and reward
If you said to a worker - on this set date you will do the same amount of work but we will only pay you 50% of your current wages, or alternatively you can all do twice as much work but for the same wages - they would all quit immediately
I know that BTC miners are computers and not people, but they still have fixed costs in terms of energy. It's not been practical to mine BTC on a home set up for years due to it costing more in energy that you would ever be able to mine
I know someone who was sys admin at mid-sized IT company and he set up a mining rig on some unused servers (this was about 10 years ago). He managed to mine some coin but had to switch it off when someone noticed the electricity bill had shot up!
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1 hour ago, MaltRam said:
I feel like we shut people and ideas down far too readily these days, and this is another example.
Sometimes yeah, maybe but this is not an example at all. She deleted the tweet herself once it became clear that she was 100% wrong, and left totally exposed as having said something hugely prejudiced. She wasn't "shut down" or "cancelled". And this is from someone who is very vocal about perceived anti-semitism (to the point of also shooting herself in the foot when she said that she "didn't look like a typical jew"!). You'd think she might be a bit more aware of religious stereotyping
There are certain topics where we really need to all learn to think about what we are about to say before we say it.
Sadly some people seem determined to say controversial stuff just for the publicity
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18 hours ago, MaltRam said:
So I googled. It wasn't racist. It was ill directed. There are a significant number of Islamic fundamentalist out there who want you and I dead, the more brutally the better. It's not racist to acknowledge the fact.
I dunno - it feels kinda racist when, the moment there is an attack where someone goes loco and kills a bunch of people, before the motive or the identity of the killer is known, for someone to state on a public forum that it was an islamic terrorist
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I assume that BTC price will also be to some degree be driven by oil prices/energy costs?
Unless I have my thinking wrong, after halving it requires twice as much energy consumption to mine the same amount of coins, so therefore mining costs will double.
If BTC value goes lower than the cost of the energy required to mine the coins, then miners will stop mining, increasing scarcity and driving the BTC price up until it becomes profitable to mine again
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13 minutes ago, ramsbottom said:
Whack on Baby Reindeer on Netflix instead, really dark & disturbing true story, that is laugh out loud funny at points.
Watched the first episode last night and it was really wince-inducing in parts (intentional - not in a bad way!) looking forward to seeing how it pans out
I like that it's a true story and therefore won't just be some glitzed up version of stalking (like the ridiculously daft 'You' on Netflix)
and already you are starting to find yourself flipping between sympathy and blame for both characters, so that's quite a feat to pull off
- ramit and ramsbottom
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46 minutes ago, Bob The Badger said:
no
But now she has, she's on it (like a car bonnet)
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28 minutes ago, Comrade 86 said:
And there you have it...
X owner Elon Musk suggested Monday new users on the social network formerly known as Twitter will need to pay a small fee to use basic functions on the platform—a change he says is needed to combat a bot problem that has plagued the site for years.
It will certainly be very interesting if they roll this out globally.
I have no interest in paying $1 a year to post on Twitter when I only ever read it. I suspect that outside of the blue tick w**kers there will be a considerable proportion of users in the same boat as me
Take out those AND take out the bots and who do you have left? The danger is that it will clearly expose how few real users the site actually has
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5 minutes ago, Crewton said:
Team photo at the end of the latest meeting of the Islamic Republic of Iran's Equality and Diversity Council.
About as diverse as the Reform Party in the UK - what is it with these factions run by angry old blokes? 😂
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At least with the football is just harmless entertainment, but search for the phrase
"Who are you supporting in this war?"
and there are hundreds of thousands of bots/blue ticks posting this over and over again.
RT for Iran LIKE for Israel
It's not the bloody X Factor or the Merseyside derby...it's real life and people are being killed - but the so-called "saviour of humanity" is just racking up the $$$ by monetising war like it's a 21st century parlour game 😞
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48 minutes ago, David Graham Brown said:
He isn’t, but like he said, it’s a much used word to close down an argument, like racist, fascist, etc.
I don't get that "used to close down an argument" line. And it's always used by the same people in the same way
It's not closing down an argument - If anything it's opening the door for the accused to explain why they believe what they have said isn't racist/fascist/islamaphobic etc
But (somewhat ironically) they instead use it to close down the argument and say things like "oh that word doesn't even mean anything any more" 😂
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Pretty sure if he can stand the pain of getting that naff neck tattoo done, he can withstand a few boos from the odd numpty in the crowd
Personally I couldn't care less - I just want to see us promoted out of this bloody awful league
- Wolfie, Rammy03 and David Graham Brown
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On 27/02/2024 at 12:22, Stive Pesley said:
BYD are surely going to start a price war with Tesla at this rate?
Looks like I was right, as reports are now suggesting that Tesla are binning their mass-market affordable Model 2 plans
Seems that their tanking share price is focusing their minds on cracking self-driving, rather than mass market production of a standard drive EV - as long term, it's self-driving that will win the market (and up the share price)
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Clough also didn't get the Leeds job because the club was in turmoil, with everyone sticking the knife into Revie, leading the way for Cloughie to seize the perfect moment simultaneously gain power AND expose himself as someone whose ambition far outweighed his intellect
Revie just left to take the England managers job and Cloughie was a proven winner at Derby
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24 minutes ago, NottsRam77 said:
Or just buy and hold 🤷
Is that making money though? You only make the money when you cash it in. The people who made the money are those you bought the BTC from
I realise the logical paradox here, and how it applies to all money (or more accurately spendable currency) but I'm still trying to get my head around the BTC end game. Because it's a speculative asset, if everyone just buys and holds and gets horny about the price going up, how is that deflationary? And if everyone holds then where is the supply?
I dunno. I've only just woken up but I do find it fascinating and I enjoy reading your thoughts @NottsRam77
Blows my mind that someone just invented a form of money that is essentially just selling cells in spreadsheet for no reason 🤣
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2 minutes ago, NottsRam77 said:
On the subject of property
Certainly interesting, although the price changes in both have no direct correlation, not do they indicate any kind of predictive curve
Data looks to be cherry picked too - I guess it deliberately misses out the 2018 BTC peak as that would make it a bit too obvious how volatile BTC can be and wouldn't make for such an eye-catching point if it showed house prices steadily increasing while BTC goes up and down like a brides nightie!
World of crypto
in The Jim Smith Room
Posted
Does this give you your own local wallet or are you holding it with a broker like coinbase? (And therefore at risk of losing it all when they over leverage and go bankrupt)