1,509 karma · joined August 28, 2010
[0] https://scienceofsharp.com/2018/08/22/what-does-steeling-do-...
Sure you can back up an image, but the backup is worth the same as a copy of the NFT: zip. You now own a pointer on the blockchain to nothing and a jpeg on your disk. I’ve got a lot of that going on already with zero expenditure.
Both global pandemics and cyberattacks are plausible events. This is the true cause of both the simulations and the events occurring. It is incredibly improbable that the IMF thinking of them and simulating them had anything to do with them happening.
1) I'm not familiar with tax laws in India (or Brazil) but in many places this would trigger gift taxes, imposing a large financial overhead to this transaction.
2) The regulatory bodies monitoring for illegal transactions will see right through this one.
The chain will drift from reality, in an uncorrectable way, reducing its usefulness over time.
It is always truly satisfying when you land in this spot on past technical decisions.
The article seems to conflict itself on this subject.
Hummers cost north of $100k USD. Assuming the mayor of Vancouver’s salary is listed in CAD it isn’t enough to buy one after tax. Furthermore on that salary it probably wouldn’t be prudent to buy one at all.
In response they bought a shock bracelet to negatively reinforce the behavior. They adjusted really quickly. Haha. I really miss that manager.
I do agree that most of what gets labeled rational is in fact ex post facto rationalization. I do it myself all the time, haha.
The more apt comparison here would be something along the lines of the recent run up in TSLA being the result of purchasing from the infinite margin bug from Robinhood a while back. It would turn out the demand wasn't real, only there because it was free.
The implications for Bitcoin and other crypto also purchased with Tether, or with Bitcoin are a lot bigger than you'd imagine.
That said I do agree with you that in today’s world innovation in high precision independent time keeping has stopped. A radio controlled relatively accurate quartz watch will keep excellent time with no user intervention over many years.
> He believes that mechanical watches were created by the best minds of 18th and 19th centuries. "Many modern watchmakers admit that we will never match them," he adds
I think there is some pretty innovative stuff coming out of Japan right now. The high accuracy quartz models from Seiko (under the Grand Seiko brand) and Citizen have insane accuracy measured in seconds per year.
Of course if you want to limit the discussion to the mechanical realm the Spring Drive is for all intents and purposes a mechanical watch with an electromagnetic quartz feedback loop slowing the unwinding to the correct pace to keep time. Not as accurate as the full quartz but very impressive and it truly glides (instead of ticking).
Assuming 15% sales tax, no income tax collection.
Someone who makes 100k per year and spends nearly all pays ~15k via this sales tax or 15%.
Someone who makes 500k per year and spends 100k pays ~15k via this sales tax or 3%.
Someone who makes 10mm per year and spends 1mm pays $150k via this sales tax or 1.5%.
The lower income person pays a much higher rate, because they have to.