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dhork @lemmy.world
Posts 5
Comments 2.3K
Gaetz unveils bill allowing bitcoin tax payments
  • This post triggered my /r/Bitcoin PTSD....

    Nobody in this community cares about opening a tab on Lightning and needing to continually police it to make sure you don't lose your coins, but let me explain the Power thing a bit more.

    Bitcoin's block confirmation algorithm is based on SHA-256, which is an algorithm that just uses computing capacity to work. Custom ASIC chips have been developed to solve that problem at a very high rate, and current Bitcoin mining farms just use a bunch of these in parallel to go faster and make more hashes. More chips = more power consumed.

    But computing power is not the only resource that you can use for Proof-of-work. Other algorithms are designed to use a large amount of memory also, and memory is harder to scale than computing power. Other algorithms enforce that multiple nodes need to work in concert, and the network delays between them also enforce an additional cost. These make it harder to make things go faster simply by spamming more units. These are just as secure as the SHA256 algorithm that BTC uses. But fewer units = less power.

    BTC Maxis think the enormous amount of power consumed on the network is a selling point, when in reality it is the only feasable excuse for governments to ban it. Governments can never ban the protocol itself -- it's just math, after all -- but can severely restrict where mining can happen if they think it is burning too much power and endangering other parts of the economy.

  • Gaetz unveils bill allowing bitcoin tax payments
  • Bitcoin used to be valuable as permissionless peer-to-peer currency, but then it was ruined when it zoomed in price. Nobody transacts with it anymore, because it is a StOrE oF vAlUe.

    The energy thing is a solvable problem, once Bitcoiners see the problem. BTC's PoW algorithm simply doesn't scale. The devs could slot in a new algorithm if they wanted to, and dramatically reduce BTC's power footprint. But they see the large energy expenditure as a feature, because they can say that all that energy is being used to secure the network.

  • Rape Allegations Refiled Against Trump
  • "Donald Trump's entire life has led to his election as the country's 45th, 48th, and final President. Therefore, everything he did leading up to it is hereby declared an Official Act. Furthermore, Grand Moff Trump officially declares that the attorneys who filed this frivolous lawsuit will be subject to re-education at our new camp on the southern coast of Cuba."

  • Gaetz unveils bill allowing bitcoin tax payments
  • Your first link illustrates my point; the Wisconsin pension fund disclosed their Bitcoin investment. I see a lot of speculation that other funds are, but no hard facts about it. If it is happening, it is super early. Here is a link from Fidelity stating that many funds are "thinking" about it:

    https://www.nasdaq.com/articles/fidelity:-pension-funds-exploring-bitcoin-investments-on-etf-approval

    It may happen on a broad scale (and I hope it does, I can use another 10x gain), but it's not there yet. If it happens, they will do it cautiously. The last thing they want is regulatory scrutiny for destroying a pension fund in the next exchange token crash.

    Your second link also doesn't say what you think it does. It's a link to a digital tech consulting company, who seems to have a vested interest in pushing crypto into the mainstream. Even then, the link is not about these banks investing in Crypto, but about banks figuring out how to provide custody services to retail customers. OG Crypto Bros self-custody, of course, but that involves a bunch of steps that the general public doesn't want to bother with.

    So, dont jump the gun on this.

  • Gaetz unveils bill allowing bitcoin tax payments
  • If you have anything in mutual funds, investments funds, pension funds, most of them have some degree of exposure to it.

    Ok. I call bullshit on this. Funds do not hold crypto unless they explicitly say they do, like some of these crypto ETFs that have started up. The regulatory landscape is so weird for crypto right now that we don't even know if they are handled as a security or not. So I think it's safe to assume that fund managers are steering clear of it unless they explicitly call out that they are in it. Unless you mean indirect exposure through investing in Crypto related businesses like Coinbase, but even that's a stretch

    Congress, on the other hand: yeah, they're all into it. How else would they get their foreign bribe money?

  • Lauren Boebert called "racist" for saying Karine Jean-Pierre is a "DEI hire"
  • They let other folks in now and then, as long as they play by the rules.

    Just look at Clarence Thomas. By any measure, he is a smart man. Dude graduated from Yale Law school in the early 70's when there were very few black folks there. However, major law firms did the same thing back then that Boebert is doing now, and assumed he just got into Yale due to affirmative action, to "tick a box". Rather than blame the inherent racism at the time, he blamed Yale for admitting him in the first place. Which is bonkers, when you think about it.

    Once he became a judge, he continued to work to dial back progress made in the 20th century, all because his fee-fees got hurt after law school. And the bribes, don't forget the bribes!

  • Lauren Boebert called "racist" for saying Karine Jean-Pierre is a "DEI hire"
  • There is a fundamental assumption among anti-DEI conservatives that there is only one Best Candidate for any job, one who conveniently looks like them. Anyone who look different, then, obviously can't be the Best Candidate, so someone must have "tipped the scales" to get them in.

    Diversity is important because it leads to better ideas, particularly in matters of public policy that affect everyone. I think it's perfectly appropriate for a PR team to use, as one of its hiring guidelines, a goal to assemble people from different backgrounds, which will make everything they produce more relatable to the public. But since Conservatives don't see the value in that at all, all they see is "They wanted to hire a black woman to tick a box", not realizing the value that particular candidate's lived experience brings to that team.

  • Trump Caught on Video Claiming ‘Broken-Down’ Biden Has Quit: ‘It’s Kamala’
  • You know, that seems like total bullshit....

    .... but remember how he started rambling that the Georgia case would be derailed because of the prosecutor's "boyfriend", and we all didn't know what he was talking about, then the story broke and it delayed the trial?

    .... or, how he kept saying the Supreme Court would bail him out of the NY case, and we all said "That simply can't happen, it doesn't work like that", the the SC releases that ruling last week and now his sentencing is on hold?

    The man is obviously plugged in what the Republican Party is doing, he may not be able to string two thoughts together cohesively but he obviously gets good info from more competent people and then we hear it filtered through his mushy brain.

    I've learned over the years to be very careful with the random shit he says, because sometimes he's right, if only because the last person he talked to gave him inside info, and he is incapable of keeping his mouth shut.

  • The case against the doom-and-gloom view for American workers
  • My personal experience is that the current economy is every uneven. Some folks are doing extremely well (mainly the ones who had their housing sorted before the Pandemic), others are not seeing their wages rise to account for the increased cost of everything.

    The overall average might be trending higher, but good luck telling that to the people that are getting the short end of the stick.

  • 'I'm not leaving': Biden expands effort to tamp down calls to step aside
  • This can't go all the way to the convention, because they made the convention so late. They actually have to make the formal nomination before the convention, in time to meet Ohio's deadline.

    The only path forward is for Harris to take over the nomination. This is far easier if Biden resigns totally. He can say he's doing it for medical reasons, even if all he has is a chronic case of notgonnawinatall, complicated by inflammation of the opeds.

  • Supreme Court says marketer is not entitled to a trademark for 'Trump too small' T-shirts

    The phrase “TRUMP TOO SMALL” stems from a memorable moment in the 2016 Republican presidential debates, during which Sen. Marco Rubio, R-Fla., made a crude joke about the size of Trump’s hands.

    “And you know what they say about guys with small hands,” Rubio quipped.

    9
    apnews.com Biden challenges Trump to 2 debates but won’t participate in nonpartisan commission's debates

    President Joe Biden says he won’t participate in the campaign debates sponsored by a nonpartisan commission, instead challenging Republican Donald Trump to a pair of debates.

    Biden challenges Trump to 2 debates but won’t participate in nonpartisan commission's debates

    Biden’s campaign proposed that the first debate between the presumptive Democratic and Republican nominees be held in late June and the second in September before early voting begins. Trump responded to the letter in an interview with Fox News digital, calling the proposed dates “fully acceptable to me” and joked about providing his own transportation.

    27
    www.jsonline.com Robert F. Kennedy Jr. is talking to Aaron Rodgers about being his presidential running mate

    Independent presidential candidate Robert F. Kennedy Jr. is talking to quarterback Aaron Rodgers about being his running mate.

    Robert F. Kennedy Jr. is talking to Aaron Rodgers about being his presidential running mate
    10
    thehill.com McCarthy scolds Gaetz in GOP meeting: ‘Sit your ass down’

    Former Speaker Kevin McCarthy (R-Calif.) scolded Rep. Matt Gaetz (R-Fla.) during a closed-door GOP conference meeting Thursday, telling the Florida Republican to sit down when he tried to interrupt…

    McCarthy scolds Gaetz in GOP meeting: ‘Sit your ass down’

    Former Speaker Kevin McCarthy (R-Calif.) scolded Rep. Matt Gaetz (R-Fla.) during a closed-door GOP conference meeting Thursday, telling the Florida Republican to sit down when he tried to interrupt McCarthy’s remarks.

    41

    Clueless Tourist and Parking

    Hi all! I'll be visiting with my family soon. I go to San Jose/Santa Clara often for work, but this will be my first time in the area as a tourist in 20 years. Were have 3 days planned for San Francisco on the trip, from a hotel near SFO. We have a rental car, and are 5 people, so it may make sense to drive. The hotel isn't walkable to BART or Caltrain, so if we were going to take those into the city we'd have to park at the station anyway. (South San Francisco would probably be the closest station).

    I'm planning to park the car for the day and take the MUNI most places, since it's free for teens. Any suggestions on safe garages? I don't mind paying to make sure the car is secure. If there's a good garage around Union Station, that may be the best bet because we can get anywhere. But it might be nice to park closer to the Presidio for the day we do things there.

    Any suggestions? My coworkers who live in the Bay Area think I'm crazy to take a car into SF at all, but surely there are some safe places to park?

    We're a bunch of nerds, and will hit up the Exploratorium. (We have a fourth day planned at the Chabot Center and Berkeley, and other days further afield). Any other suggestions for nerdy things to see would be appreciated. (We already have the Wave Organ on the list....)

    Thanks!

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