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| 15:28:52 | <@JAA> | Looks like HDD drives have finally recovered to pre-Chia levels. Seagate Exos drives are almost exactly the same price here now as in early April. A bit cheaper, in fact. I'm tempted to buy a few X18 now. |
| 15:30:21 | <@JAA> | Ditto for Toshiba Enterprise Capacity drives. |
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| 20:13:20 | <Frogging101> | fuck crypto |
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| 20:46:53 | <gazorpazorp> | at least blockchains are the most archived thing ever |
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| 21:42:42 | <@OrIdow6> | If you measure "archived" by "how many hard drives have copies of it", I expect that MS Word is much more "archived" |
| 21:51:46 | <@JAA> | Or the Linux kernel, in particular the one used on Android. |
| 21:52:08 | <@JAA> | Not sure how much that varies between devices or manufacturers though. |
| 21:53:41 | <@JAA> | Static files from the most popular websites in browser caches might also be a good candidate. |
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| 22:09:29 | <kpcyrd> | something something java 3 billion devices |
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| 22:17:49 | <gazorpazorp> | either "0" or "1" is the most archived thing |
| 22:19:30 | <@JAA> | /dev/zero suggests it's 0. ;-) |
| 22:22:57 | <gazorpazorp> | but out of the size of blockchain X or above the most archived thing would probably be blockchain X or another bigger blockchain (for those that are a few gibibytes at least) |
| 22:23:23 | <gazorpazorp> | of the things of* |
| 22:24:20 | <gazorpazorp> | I don't think BluRay movies or big games would come close to the copies of the Bitcoin blockchain |
| 22:24:25 | <gazorpazorp> | nor the size |
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| 23:07:51 | <Frogging101> | crypto is incentivized waste |
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| 23:30:50 | <gazorpazorp> | Frogging101: why? What negatives do you see? Do you see any positives or eventual uses for cryptocurrency, blockchain or related technologies in the future? |
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| 23:38:01 | <Frogging101> | gazorpazorp: Proof of work requires an enormous amount of energy. It's extremely inefficient. And to say nothing of the hardware demand |
| 23:38:28 | <gazorpazorp> | What about proof of X where X != work? |
| 23:38:33 | <gazorpazorp> | proof of stake, etc |
| 23:38:52 | <gazorpazorp> | I agree about proof of work being bad, btw |
| 23:39:18 | <Frogging101> | Proof of stake is better |
| 23:39:32 | <gazorpazorp> | i don't think there's much future in proof of work |
| 23:40:13 | <Frogging101> | though if an economy were to be cryptocurrency oriented, wouldn't proof of stake essentially necessitate a small number of individuals holding a large percentage of the wealth? |
| 23:40:23 | <Frogging101> | I suppose it could be done in a way that's not much different from a central bank |
| 23:40:42 | <gazorpazorp> | bitcoin is still worth a lot and most other currencies are measured in bitcoin, but IMHO that's just because bitcoin was the first and it still has some momentum |
| 23:41:36 | <gazorpazorp> | Not sure about the small number of people as you say |
| 23:41:46 | <Frogging101> | yeah, actually, maybe I'm misinterpreting how POS works |
| 23:42:32 | <gazorpazorp> | I'm not sure myself as well, haven't researched it in years |
| 23:42:38 | <Frogging101> | Bitcoin was a harmless joke when it started, now it's a menace. The day PoW dies, I'll be glad |
| 23:43:09 | <gazorpazorp> | A hard |
| 23:43:29 | <Frogging101> | Also for some reason every cryptocurrency seems to be highly volatile and used for nothing but speculation, but maybe that's because in order for a currency to have value it has to have significant usage as a medium of exchange of real goods. |
| 23:43:31 | <gazorpazorp> | A harmless joke but I always wish I had invested in that harmless joke* |
| 23:43:35 | <Frogging101> | lol |
| 23:43:40 | <Frogging101> | I had 10 bitcoins in 2011 or so |
| 23:44:24 | <Frogging101> | I sold and otherwise lost them in a worthless manner |
| 23:44:32 | <gazorpazorp> | And crypto has less of an entry barrier than stocks, etc., so it's easier for newbie investors (like me) to trade it |
| 23:44:35 | <gazorpazorp> | (about the volatility) |
| 23:45:41 | <Frogging101> | Owning a stock reflects ownership of a real, (hopefully) profitable company |
| 23:46:14 | <Frogging101> | People buy stocks to sell them later, sure. But their value is intrinsically tied to something in the real world |
| 23:46:29 | <Frogging101> | Whereas crypto is valued *only* by what you think you can sell it for later |
| 23:46:51 | <Frogging101> | Also with online discount brokerages, stocks are easier than ever. |
| 23:47:00 | <Frogging101> | I'm not shilling stocks here, just informing |
| 23:47:02 | <Frogging101> | ^^ |
| 23:47:11 | <gazorpazorp> | I haven't yet, but I'd like to invest in new cryptocurrencies that solve a specific problem and actually have value |
| 23:47:18 | <gazorpazorp> | not doge/horsey/whatevercoin |
| 23:47:33 | <gazorpazorp> | and a lot of companies are overrated anyway |
| 23:47:48 | <gazorpazorp> | and with a few stocks you don't exert any control over the company |
| 23:47:54 | <gazorpazorp> | so it's still a gamble |
| 23:48:19 | <gazorpazorp> | and i'm not shilling crypto :D |
| 23:48:34 | <gazorpazorp> | money is valued only by what you think you can buy with it later |
| 23:49:08 | <Frogging101> | Yes but the fact that it is used to buy things, and a controlled supply of it, keeps its value steady |
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| 23:50:04 | <gazorpazorp> | and the fact that the government of some country can mandate that people use it as a means of exchange |
| 23:50:27 | <Frogging101> | I don't know if all cryptocurrencies are like this, but many (such as Bitcoin) have a fixed and slowing (by design) supply. This makes it deflationary |
| 23:51:23 | <Frogging101> | Which incentivizes keeping it rather than using it. To me, that's not the best property for a currency to have |
| 23:51:35 | <gazorpazorp> | I can't give you specific examples, but from what I've heard you can (and there are currencies that) program deflation/inflation in the algorithm |
| 23:51:48 | <Frogging101> | oh yeah, I'm sure it can be done. bitcoin's deflation is by design |
| 23:51:55 | <Frogging101> | it didn't have to be |
| 23:53:08 | <gazorpazorp> | Bitcoin is just the first cryptocurrency and the most popular now (and before) |
| 23:53:13 | <gazorpazorp> | doesn't mean it's goign to stay that way |
| 23:53:42 | <gazorpazorp> | there's no fundamental reason it has to still be the most popular, it's just inertia from before |
| 23:54:18 | <gazorpazorp> | I imagine in 10-20 years we'd have radically different cryptocurrencies and bitcoin would represent a small archaic fraction of the market |
| 23:54:25 | <Frogging101> | It's got the most media coverage |
| 23:55:42 | <gazorpazorp> | but it's just inertia, isn't it? There are faster or more private or more-whatever currencies out there, it's just that bitcoin is the first and therefore the most popular coin |
| 23:55:54 | <gazorpazorp> | so it's going to fade away |
| 23:55:58 | <@JAA> | Speaking of crypto: https://hindenburgresearch.com/tether/ :-) |