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Well yes, that's obvious...any interaction with someone else require you to 'trust' that they'll do what they say. I think you misunderstanding the context of trust-less in regards to bitcoin though.


Maybe, but I think you're missing my point. When you buy Bitcoin (or whatever) you're betting that someone will want to trade you something else for it in the future. That "someone else" isn't a concrete entity, and "they" haven't given you any assurances of any kind.

I was replying to an argument that cryptocurrencies are superior to state-issued fiat because they don't require trust. IMO this is nonsense. Using anything with zero intrinsic value as a store of value is a gigantic leap of faith.


You also edited after comment...


Indeed. I inserted "[marginal]" to qualify the production cost, and "Added:" a question to crystallize the profit options.


You also swapped out 'sell' for 'turn off'.


Nope.


OMG, your own archive even shows it!


But then you no longer have your mining hardware to mine with when it does go back up...I don't think you understand any of this.


The other poster said turn it off, not scrap it.


He edited his comment. He had previously said "sell" not turn off.


Absolutely not; you may have misread? If I had considered selling off the capital there would have been some USD amount attached to that sale!


Where does the 100 dollars to spend on 2 coins come from? Turning off your rig would give you 100 like selling would. It's already established you're a liar though.


From the same place as the money to pay for electricity would have come from... It's a simple arithmetic problem; John has USD 100, he can either spend it on electricity (to produce 1 BTC) or he can buy 2 BTC. Obviously owning 2 BTC is better than owning just 1, so the more profitable path is to spend the money buying BTC instead of paying for electricity to mine at a loss. I hope this helps.


That's wrong, you don't get the money you'd save on electricity up front like you would from selling your rig. You're just digging yourself a hole.


They said it in 2008...


No none has a clue about trading...stocks or crypto.


>When they lose money they won't come back.

Exactly! This is why casinos never make money.


Flawed? How so?


Governments outlawing numbers, that'll be the day.


Governments outlawing of numbers has been going on for a long time: https://en.wikipedia.org/wiki/Illegal_number


All those of those are examples of numbers that have already been discovered, not preemptively banning numbers yet to be found.


They still pre-emptively ban numbers, for instance if they represent something illegal: "Any image file or an executable program can be regarded as simply a very large binary number. In certain jurisdictions, there are images that are illegal to possess, due to obscenity or secrecy/classified status, so the corresponding numbers could be illegal."

Also, the concept of "numbers yet to be found" is philosophically questionable.


In 2017, far-right Slovak politician Marian Kotleba was criminally charged for donating 1,488 euro to a charity.


Yes, just like anything...but it comes with a trade off.


If you don't consider humans special. What is your definition of special?


“Special” is a human concept which may not exist objectively, empirically. Distinct, unique, etc... are probably more honest, assuming that we don’t exist in a multiverse.


isn't every concept you could name right now a human concept which may not exist objectively?


No, but then, I like physics so I’d start rattling off fundamentals like the hyperfine transitions of Hydrogen, the speed of light in vacuum, and the mass of the proton.


Still can't prove those absolutely objective. They just work out with our human conceived models of the "physical" universe.


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