by Simon 28 Replies latest social current
You may want to do some research
I thought that this parallel coining is climate damaging, using coal, in Alberta capped dormant wells to burn off gas that should be left in the ground, harassing nearby residences in the process. using more energy than many countries in total, first time I have heard something good about it. but may be I am just jealous, not having participated in the rise from 1 to 30 000 whatever it is now.
sorry, still stuck in the 1930s.
Crypto isn’t where it needs to be yet. It is still too volatile in relation to government back currencies. It does have the advantage, as Simon mentioned of allowing unfavoured members of society to conduct business. In China they have a social credit score so if you were caught buying or doing something not approved by the party, they could take away privileges like riding transit. Crypto is like a cash economy which is needed to keep governments in check.
Crypto is like a cash economy which is needed to keep governments in check.
cash , under the table earnings are also great ways to dodge taxes, , and make others pay for the benefits that governments dish out, such as universal healthcare and pensions to the poor retired circuit overseer and special pioneers, and other gullible true believers in / of wt inc.
I thought that this parallel coining is climate damaging, using coal,
I'm sure there is someone, somewhere using coal, but the majority of crypto miners need and want to use something less
in Alberta capped dormant wells to burn off gas that should be left in the ground, harassing nearby residences in the process.
If you're referring to off-gassing, this happens anyway. There is a tremendous amount of wasted energy but lots of this can now be harnessed. There would be no point converting this gas to electricity in the middle of no-where, but Crypto can make it worthwhile which then reduces the wasted emissions and brings economic benefit.
using more energy than many countries in total
It's very misleading to compare the total energy use to countries. It comes down to exactly which energy is being used. If it's energy that would otherwise be wasted then it isn't equivalent and it's misleading to imagine that preventing it would somehow save that energy - it wouldn't, it would still be created, just wasted.
Crypto miners can use excess energy (e.g. solar and wind, when it exceeds demand) and can make it more economical to have these installations by being a paying customer for them at times no one else wants or can use that power.
cash , under the table earnings are also great ways to dodge taxes, , and make others pay for the benefits that governments dish out, such as universal healthcare and pensions to the poor retiredcircuit overseerand special pioneers, and other gullible true believers in / of wt inc.
Crypto isn't like cash, as it's traceable.
Imagine being able to see and track exactly where all the money going into a charity is spent for instance? Not just what they tell you they spend things on, what they actually spend it on, because the ledger of transactions is public.
Instead of enabling corruption is makes things more transparent, which is not going to be something that certain organizations and certain governments want.
Imagine being able to see and track exactly where all the money going
Hope you are truly right about all you say about this. , but a poor schmuck like me find it dubious that many of the scams, extortion, ransom deals are channeled to the parallel monetary system, is it not because it is not easily traceable through layers of "wallet" sites? only accessible through coded passwords?
banks give out stolen money with a colouring bomb attached.
Is it not true, that financial crisis were not triggered by honest people working to much or little, but by speculation and manipulation of artificial monetary concepts and vehicles, that have only tenuous connection to reality?
True, that China has produced a lot of junk, piling up in our landfills, ut they also have produced value for many of their suffering people.
hopefully their aggression can be contained.
Hope you are truly right about all you say about this. , but a poor schmuck like me find it dubious that many of the scams, extortion, ransom deals are channeled to the parallel monetary system, is it not because it is not easily traceable through layers of "wallet" sites? only accessible through coded passwords?
The vast majority of crime and fraud happens using USD. Most crypto is trackable and provides law enforcement with new tools.
banks give out stolen money with a colouring bomb attached.
I think that's more in movies. The real criminal use of USD will be things like cartels moving shipments of drugs etc... and of course the major banks doing money laundering and other shenanigans.
Is it not true, that financial crisis were not triggered by honest people working to much or little, but by speculation and manipulation of artificial monetary concepts and vehicles, that have only tenuous connection to reality?
Too many negatives in the sentence to try to make sense of it. The last banking crisis was caused by assets being misrepresented and a contagion of bad debt. The "solution" to all things for banks and politicians is to inflate currency so it becomes worthless, because it makes their debts less and steals from savers ... money that they otherwise can't touch.
True, that China has produced a lot of junk, piling up in our landfills, ut they also have produced value for many of their suffering people.
hopefully their aggression can be contained.
Hear, hear
Quote: "True, that China has produced a lot of junk, piling up in our landfills, ut they also have produced value for many of their suffering people."
Let's be honest about this point, China, makes goods with varying qualities, for sale in their own internal markets and for sale fo whoever wants to buy them. The people in any non-Chinese country, who make a decision to buy those goods, are the various local importers and wholesale distributors in that (your?) country. And, the people (end-user) who make the final buying decision, choose between a number of manufactured items with differing qualities and differing price points. I doubt that anyone in your country forced you to buy any product.
If you visit China and attend a trade show (for any industry), you will be able to see for yourself the wide range of qualities that are available. During one of the 14 visits I've made to China in the last 21 years, I was walking around the backstreets of Suzhou and found a street with about 20 stores selling restaurant/hotel catering equipment for all levels of the industry (I then worked in this field). There were cheap products suitable for street vendors and high quality products suitable for 5 star hotels. The iphone you may use, was likely made in China. Personally, I use a Huawei. Why? Because it cost me Aust$190 and it does all I want a phone* to do. GM manufacture cars in China for export to the USA. I'm sure they would not do that if quality standards could not be maintained.
* My phone was scammed once and locked (not sure how)-someone, with an Indian accent, asked me to send $17,000 to them in Los Angeles and they'd unlock. I went to the Sydney Huawei office and they unlocked it for me in 15 minute.
If you visit China and attend a trade show
fts, i used to exhibit at the hardware show in Chicago IL. The Chinese industries had a whole floor to themselves of any conceivable hardware product (25 years ago, when it was still in its infancy)
A component was made for us in a province of China, first unusable, , but at the end better than the US suppliers. the best, at a quarter the price.
China delivers value, if called upon. scary that they will crank out quality military hardware. en masse. with the manpower to man it.
