monort

6 MB/s is trivial for cheap servers and doable for a lot of personal connections (outside US) right now, you shouldn't even wait for Moore's law to catch up.

In 2016 Visa made 86 billion transactions, that is average of ~2600 per second, one magnitude less, than you expected.

Oil alarmism existed as early as 1919: http://papers.sae.org/190011/

There is no obvious victim when selling a drug, if transaction is voluntary. We already accept that by allowing selling some drugs, that were historically consumed.

If you want a future-proof law, you should start from first principles and not use a path-dependent current laws, where selling alcohol is ok, but selling heroin is a crime.

The answer is obvious - AI shouldn't enforce victimless crime laws.

There was a halving of miners subsidy in 2016, that is what drives the price. For some reason the effect is delayed, but it was delayed during previous halving too.

Yes, I know Google Scholar didn't exist in 2002, but there were papers anyway:

https://scholar.google.com/scholar?q=audio+fingerprint&hl=en...

If you are thinking the difference is negligible, you are thinking only about things you can buy right now. Imagine you want to buy:

Rockets (Bezos, Musk)

Curing aging (Ellison, Bezos, Page, Brin, Pineapple Fund)

Curing malaria (Gates)

Or something on a lesser scale:

Seed funding to startups (Graham)

App to display wind for kitesurfing (Lukacovic)

Remember the last frustration you had with software, hardware or your hobby? Imagine you can solve it for yourself and others just by throwing money on the problem. There is a saying, that the rich are just frustrated mariners, all they want is a larger boat. If you are in that category, then yes, your lifestyle difference won't be large with a $100m and $1b

This is exactly the problem, that can be solved with software, we know it from the past (IRC, ICQ random chat, Livejournal).

It looks like this (Romania)

https://farm4.static.flickr.com/3628/3493868568_0538c4f264_b...

Satoshi didn't predict mining pools, but they were fully aware that mining nodes will be in minority. It's mining pools that produce centralization problem, not mining hardware.

But this definition is unusual and doesn't bring any insight. It reminds me about psychological egoism, that says that there is no altruism, everything is egoism. Technically correct, but doesn't help to explain altruism-behavior.

While this position is technically correct, it is absurd. By this logic, enforcing freedom from slavery is coercive as well, because it requires threat of violence.

You shouldn't worry about it before scaling problem is solved. Dollar will start losing value to bitcoin only if a considerable number of transactions are made in bitcoin, and there is nothing apocalyptic about it - it will be a slow move from the dollar to a cryptocurrency.

$1M/bitcoin and 3 transactions/second are not compatible.

Would you use a currency where 10% every year (not once) goes to a relatively small number of banks?

USD M2: https://tradingeconomics.com/united-states/money-supply-m2

You said that jewelry and industrial use outweighs investment use, but gold reserves (investment) far outstrip yearly transaction amount, that is the difference with other commodities, where it is rare to have more than a year supply. It is a feature of gold and that is why people call it a "store of value".

Transactions are necessary but insufficient for something to become a store of value. For example, steel is sold in great amount, but it is not a store of value.

Actually, bitcoin velocity is comparable to M2 USD:

http://charts.woobull.com/bitcoin-velocity/

If we compare only fluctuation down, then except for the first bitcoin bubble, they are actually the same magnitude difference: around 2x

https://static4.businessinsider.com/image/5a09d3f635876e0101...

Though fiat currencies fluctuate less frequent so far.

Incidentally, US dollar is the most well managed currency and that is why Americans do not understand the value of bitcoin.

You are looking at the wrong metric, it seems like they count only transactions, not holdings. Only Fort Knox holds over 4000 of metric tons of gold.

You are incorrect in the belief, that currencies of developed world do not fluctuate.

Pound sterling: http://www.macrotrends.net/2549/pound-dollar-exchange-rate-h...

Swiss franc: http://www.macrotrends.net/2558/us-dollar-swiss-franc-exchan...

Euro: http://www.macrotrends.net/2548/euro-dollar-exchange-rate-hi...

Yuan is much worse, though it doesn't matter that much due to capital control: http://www.macrotrends.net/2575/us-dollar-yuan-exchange-rate...

Usually hidden cameras are installed in hotels not by owners, but by staff.

Imagine you are living in the past, when gold had only industrial, probably jewelry use, and you invent the concept of money. Would you buy the gold then? Hint: industrial use accounts for maybe 1% of the price of gold.

That is what is happening with bitcoin, people realize it can have monetary use and buy it to capture the difference between intrinsic value (zero) and future monetary value. Of course, this can fail badly if bitcoin won't be used as money.

Additionally, there is a positive feedback mechanism that can be deadly for fractional reserve fiat currencies. People get credit, buy bitcoin, this inflates the fiat supply and drives bitcoin price higher, alluring more people to repeat the process. This process is called hyperbitcoinization.

Because it's too early, bitcoin is still small. Wait until some terrorists use it for funding.

USSR had more of the floor as well, it still had a large inequality. You could get much more resources (though not monies) if you chose to become a party bureaucrat.

It's acceptable and encouraged to follow unknown people on IG. I follow people with hobbies I like, some of them become friends due to interaction. Unfortunately this works only for hobbies that can be fit in a photo, I'd like to have a more generalized platform (anyone remembers Livejournal? :)

If you read comments here, you will find a few people who lost their significant others, because they got too many friends from Instagram and irreversibly changed!

Do you actually use Instagram yourself? From my anecdotal evidence - IG is the greatest source of new friends (do you know how hard to get a friend when you are an adult? It's easy with IG). Most communication happens in private messages, so you don't see it.

Would you apply the same logic to government?

Government has to be broken down to pieces. I think it has reached a state where it cannot be allowed to continue as a single government being able to observe/monitor public and private communication / social interaction of so many people and not being regulated and controlled by market forces.

You should pay to five companies in different jurisdictions for a 3 of 5 multi-sig. As far as I know, nobody offers such service right now, but I think it will exist in the future.

Are you talking hypotheticals? Because in reality private jitneys are mostly forbidden in US, not regulated.

This depends on a country, I've seen some where it's municipal bus, that is overcrowded, and mini-bus is a more "premium" service. But anyway, do you think you should force them to pay twice the price by removing the overcrowding? It's just a revealed preference, like with airplanes, people prefer price to comfort. Modern startup in this area can experiment with a different price for standing/sitting.

If this jitneys are really worse, there is no need to forbid them, municipal buses will outcompete jitneys.

There are dollar vans in NY, that supposedly regulated and still profitable. It's really weird how developed world mostly ignores third-world model of private mini-buses.