I think that Elon is genuinely well meaning, but he is far from understanding the effects of government.
All such a ban could achieve is keep white hats from working on AI. So basically evil AI programmers would get 6 months head start.
1% of Bitcoin? That’s quite some stacking goals.
No. That’s more than full reserve. Fractional reserve means that you have only a fraction of the assets that you owe.
Fractional reserve is when a bank has $100 deposits and uses this to back a $1000 credit.
Or when a central bank gives out 100 ounces worth of gold notes and only has 1 ounce in the vault.
Testing current. Too many great clients these days.
#[0] Verifying My Public Key: "@michaelantonf"
Actually it is. There are two ways to fractional reserve:
1.) Lend out more money than you have.
2.) Give out certificates for more assets than you own.
If you give someone money to lend out that is a contract. But if somebody lends out your money more than once that is fraud.
Because now there are multiple claims to the same property.
No sorry, this has nothing to do with a free market, just like short selling hasn’t. It’s plain fraud.
If you sell what you don’t have or lend out what you don’t have, this is fraud. There is no two ways about it.
Bullshit. Lending is necessary.
Fractional reserve is not lending, it is theft. You create new money and lend out the purchasing power of others forcefully, because you weren’t able to get them to lend it willfully.
All fractional reserve is a criminal fraud.
I have to disagree. A deflationary spiral is exactly the mirror image to the inflationary. The only difference is that the inflation ends the money while the deflation buys central banks time.
Maybe this could be part of some caching feature? I notice that Damus reloads everything on startup. On my iPhone with big memory, I’d really enjoy if I could have say 20GB cash containing the last 7days of posts of all accounts I follow.
Is there any conspiracy on c-virus that has not come true?
I am highly doubtful that there is a good way to content Moderation other than letting users filter themselves.
And I’ve never heard any sound argument why it is necessary that a client should have the filters built in.
Maybe a default normie filter that can be replaced by a custom filter is the way to go?
Caching.
Already was in Japanostr this year. Was great. Had a snow storm and earthquake. So great place to get out of the dangerous, chaotic Fiat system.
The beauty of Bitcoin is that the supply is verifiable and every user has incentive to insure the code that keeps it capped at 21 Mio. is never changed.
Monero is not verifiable, it might have an inflation bug already for all we know.
Bitcoin was designed the way it is, precisely because various coin concepts really similar to Moneros idea had been tried and failed for this simple reason.
Advocating for Monero is like forking Windows and claiming “this one doesn’t need anti-virus software”
Funny how confident the Monero heads are that Satoshi was an idiot and that they have solved a 5000 year old problem in a way that the Cypherpunks didn’t see… even though the Cypherpunks Hase tried and discarded the concept even before Monero was created.
Yeah, sure… Satoshi was a dumb ass and all the cypherpunks before them… it’s not like they pointed out why Monero would be a 💩coin before it was even created.