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Comment Re:A surprising turn of events (Score 1) 219

Oh look, a noninvasive and effective approach to preventing bombings; It's almost as someone competent got hired.

If the objective is to catch idiots who do not do their research, it is a great approach. A shade better than catching them after they blow themselves up. Is not going to catch anybody serious who collects his waste and disposes it elsewhere, like down the drain of a rival.

Comment Re:Deceased owners (Score 1) 206

This dividing in ever smaller units is not a solution, it doesn't increase the number of bitcoins in existence. It just means that the bitcoins that are still there increase in value - possibly rapidly - making it more interesting for people to hold them instead of spending them, amplifying the problem.

This until so many bitcoins are lost and being hoarded that there is not enough liquidity left to make it a viable currency.

It avoids the problem of one unit of Bitcoin growing in value to the point that hardly anything can be purchased with one or 1/100th of a bitcoin in the case of bitcoin deflation.

Comment Re:Deceased owners (Score 1) 206

Isn't it inevitable that the total pool of BitCoins would be reduced to nothing as owners die off without passing on their wallets? That was the intent of my original question.

Okay, how about this example. Many a ship sank to the bottom of the sea with loads of mined, processed, assayed gold and silver, yet it did not result in the end of those metals being used as money. Not everybody is keeping the access to their bitcoin with them to their grave, and the ones who do give a modest bit of deflation to this version of money. Another note, people change what they like to use for money from time to time. Sometimes it is salt, other times it is gold, and a not insignificant group likes bitcoin right now. There is no reason to believe that something else might replace bitcoin as a liked electronic based means of exchange.

Comment Re:Deceased owners (Score 2) 206

Isn't it inevitable that the total pool of BitCoins would be reduced to nothing as owners die off without passing on their wallets? That was the intent of my original question.

No more inevitable than people having stashed away money that gets destroyed in fires (or other) will result in all money being reduced to nothing.

Personal example (I was not there, my dad was) an old relative died at home after extended illness. He kept saying something about the mattress, but could not speak well. Dad and his brothers took the mattress to the side of the railroad tracks and burned it. That is when they discovered it was stuffed full of cash and they had no way to put it out before it was all gone. Similar stuff happens all the time, but it is the amount of money remaining in circulation that has the impact on prices, etc. Also, since BitCoin can be made into such small change, losses of sizable chunks should not be devastating.

Comment Re:Or... (Score 1) 8

While I agree that belief in that sort of narrative is ridiculous, I do not put this level of ridiculous past the president, and those who surround him, for this period of time or longer. I would not doubt that if they ever stopped believing it, that was about the time it was dropped. They believe all sorts of other things too, like the fairness of central planning, so this is not beyond them at all.

Comment Re:Bill is doing the right things (Score 5, Interesting) 247

Imagine having a library in your village that could show you how to build water condensers, new farming techniques, basic chemistry that could improve your quality of life, really ANY piece of information you could conceive of as well as the ability to communicate remotely with other vilalges trying to overcome similar problems at the touch of your hands.

But no, better to hand out fish then give access to fishing instructions.

Knowledge is power.

This is the stuff right here. It is not just one or the other, both are important. Having someone parachute in and give everybody shots is one noble and great thing. Having someone drive up right behind him with a library is yet another.

Comment Or... (Score 1) 8

Draw your own conclusions, but I do not believe that the President would say it was a spontaneous reaction to the video without some evidence of it, and he had none. He said it because he thought it was believable and wanted to win an election, and if it were preplanned then it is a failure of his administration.

That is a fully rational theory. However, there is the possibility that this was indeed what he was told and he did not bother with asking for anything to support it. Someone concocted a narrative and he bought it.

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