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Page 2 of 3<123>
16-07-2020 02:46
IBdaMannProfile picture★★★★★
(7300)
Xadoman wrote: What about bitcoin? I have a feeling that the thing is like a snowball that grows bigger and bigger and eventually it requires unreal amount of computing power and memory disks to simply maintain itself and therefore its collapse is inevitable.

Nope. What it records is just text.

Sure, it records about 300K transactions per day ... amounting to about 150MB per day, 55GB per year, 550GB per decade, 5.5 Terabytes per century or 55 Terabytes per millennium.

On a related note, the Western Digital Ultrastar 14TB drive is available on Amazon for $320.00



Five of these bad boys (70TB, $1,600.00) should carry Bitcoin through to the year 3020.

Now you might be inclined to mention that they will need multiple redundant backups, requiring fifteen of those drives (210TB, $4,800) to ensure uninterrupted operations through the next thousand years. OK, you have a point there.

However, in the near future, the WD Ultrastar 20TB will emerge and prices will continue in freefall, and only three of those will be needed (nine for redundant operations) for the next millennium.



.


A Spaghetti strainer with the faucet running, retains water- tmiddles

Clouds don't trap heat. Clouds block cold. - Spongy Iris

Printing dollars to pay debt doesn't increase the number of dollars. - keepit

If Venus were a black body it would have a much much lower temperature than what we found there.- tmiddles

Ah the "Valid Data" myth of ITN/IBD. - tmiddles

Ceist - I couldn't agree with you more. But when money and religion are involved, and there are people who value them above all else, then the lies begin. - trafn

You are completely misunderstanding their use of the word "accumulation"! - Climate Scientist.

The Stefan-Boltzman equation doesn't come up with the correct temperature if greenhouse gases are not considered - Hank

:*sigh* Not the "raw data" crap. - Leafsdude

IB STILL hasn't explained what Planck's Law means. Just more hand waving that it applies to everything and more asserting that the greenhouse effect 'violates' it.- Ceist
16-07-2020 05:11
keepit
★★★★☆
(1620)
ITN,
OK. How about this issue.
Rank the following in most practical and doable and explain your answer :
1 - printing dollars to pay off treasury debt (bonds, notes, bills).
2 - printing new treasury debt (bonds, notes, bills) to raise money to pay off old treasuries (bonds, notes, bills).
3 - defaulting on old treasuries
4 - raising taxes enough to pay off the national debt (that's a funny one).
5 - reducing govt spending enough to pay off old treasuries (that's funny too).

#'s 4 and 5 are just ridiculous and meant for humor.
16-07-2020 05:25
IBdaMannProfile picture★★★★★
(7300)
keepit wrote: ITN, ... Rank the following in most practical and doable and explain your answer :
1 - printing dollars to pay off treasury debt (bonds, notes, bills).
2 - printing new treasury debt (bonds, notes, bills) to raise money to pay off old treasuries (bonds, notes, bills).
3 - defaulting on old treasuries
4 - raising taxes enough to pay off the national debt (that's a funny one).
5 - reducing govt spending enough to pay off old treasuries (that's funny too).

#'s 4 and 5 are just ridiculous and meant for humor.


@ Into the Night, I do believe you are being given an exam ... and keepit will be grading your test.

@ keepit, refresh my memory, why do you refer to government bonds as "treasuries"?

.


A Spaghetti strainer with the faucet running, retains water- tmiddles

Clouds don't trap heat. Clouds block cold. - Spongy Iris

Printing dollars to pay debt doesn't increase the number of dollars. - keepit

If Venus were a black body it would have a much much lower temperature than what we found there.- tmiddles

Ah the "Valid Data" myth of ITN/IBD. - tmiddles

Ceist - I couldn't agree with you more. But when money and religion are involved, and there are people who value them above all else, then the lies begin. - trafn

You are completely misunderstanding their use of the word "accumulation"! - Climate Scientist.

The Stefan-Boltzman equation doesn't come up with the correct temperature if greenhouse gases are not considered - Hank

:*sigh* Not the "raw data" crap. - Leafsdude

IB STILL hasn't explained what Planck's Law means. Just more hand waving that it applies to everything and more asserting that the greenhouse effect 'violates' it.- Ceist
16-07-2020 05:49
keepit
★★★★☆
(1620)
Economists refer to them as treasuries. I just picked up the phrase from them. Surprised you missed that. Where did you go to school?
16-07-2020 06:10
IBdaMannProfile picture★★★★★
(7300)
keepit wrote:Economists refer to them as treasuries.

Economists refer to bonds as "bonds." They can have descriptors such as "government bonds," "Treasury bonds," "corporate bonds," etc...

Economists know what bonds are. However, I will acknowledge that there are a relative few pretenders out there that talk a bigger game than they play and who don't understand how they are misusing their words.

I just wanted to remember your reason. Now I know. You think you become an economist by using the slang of those you mistakenly believe are economists rather than learning what the words mean and trying to use them correctly.

OK. I got it. Press on.

btw, did you ever get that addition thing straightened out? You know, adding one dollar actually increases the number of dollars by one, regardless of how it is spent? ... or do you still need help sorting that out?

.


A Spaghetti strainer with the faucet running, retains water- tmiddles

Clouds don't trap heat. Clouds block cold. - Spongy Iris

Printing dollars to pay debt doesn't increase the number of dollars. - keepit

If Venus were a black body it would have a much much lower temperature than what we found there.- tmiddles

Ah the "Valid Data" myth of ITN/IBD. - tmiddles

Ceist - I couldn't agree with you more. But when money and religion are involved, and there are people who value them above all else, then the lies begin. - trafn

You are completely misunderstanding their use of the word "accumulation"! - Climate Scientist.

The Stefan-Boltzman equation doesn't come up with the correct temperature if greenhouse gases are not considered - Hank

:*sigh* Not the "raw data" crap. - Leafsdude

IB STILL hasn't explained what Planck's Law means. Just more hand waving that it applies to everything and more asserting that the greenhouse effect 'violates' it.- Ceist
16-07-2020 08:54
James___
★★★★★
(2987)
IBdaMann wrote:
keepit wrote:Economists refer to them as treasuries.

Economists refer to bonds as "bonds." They can have descriptors such as "government bonds," "Treasury bonds," "corporate bonds," etc...

Economists know what bonds are. However, I will acknowledge that there are a relative few pretenders out there that talk a bigger game than they play and who don't understand how they are misusing their words.

I just wanted to remember your reason. Now I know. You think you become an economist by using the slang of those you mistakenly believe are economists rather than learning what the words mean and trying to use them correctly.

OK. I got it. Press on.

btw, did you ever get that addition thing straightened out? You know, adding one dollar actually increases the number of dollars by one, regardless of how it is spent? ... or do you still need help sorting that out?

.



I tried read tmiddles post. With yours, not so much a target but rather a questioning of economic policies. A trade deficit relative to the financial health of the "local" economy always determines the relative value of "adding" a dollar to the economy.
ie., if the trade deficit of any economy as an example is 5% of the GDP, then any money added to the economy is at a rate = to the trade deficit as a % of the GDP.
Not sure IBDM, you're aware of this but they aren't. Maybe some of your cool graphics will catch their attention? Am only saying this as a concerned citizen.
16-07-2020 12:04
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
ITN,
OK. How about this issue.
Rank the following in most practical and doable and explain your answer :
1 - printing dollars to pay off treasury debt (bonds, notes, bills).
2 - printing new treasury debt (bonds, notes, bills) to raise money to pay off old treasuries (bonds, notes, bills).
3 - defaulting on old treasuries
4 - raising taxes enough to pay off the national debt (that's a funny one).
5 - reducing govt spending enough to pay off old treasuries (that's funny too).

#'s 4 and 5 are just ridiculous and meant for humor.

RQAA.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
16-07-2020 12:05
Into the NightProfile picture★★★★★
(13005)
IBdaMann wrote:
keepit wrote: ITN, ... Rank the following in most practical and doable and explain your answer :
1 - printing dollars to pay off treasury debt (bonds, notes, bills).
2 - printing new treasury debt (bonds, notes, bills) to raise money to pay off old treasuries (bonds, notes, bills).
3 - defaulting on old treasuries
4 - raising taxes enough to pay off the national debt (that's a funny one).
5 - reducing govt spending enough to pay off old treasuries (that's funny too).

#'s 4 and 5 are just ridiculous and meant for humor.


@ Into the Night, I do believe you are being given an exam ... and keepit will be grading your test.

@ keepit, refresh my memory, why do you refer to government bonds as "treasuries"?

.

His 'test' is simply asking questions that have already been answered. It's quite apparent he doesn't read posts.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
16-07-2020 12:07
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
Economists refer to them as treasuries. I just picked up the phrase from them. Surprised you missed that. Where did you go to school?


Nope. Only federal bonds are sometimes called 'treasuries'. State bonds have no such synonym.

You do not get to speak for all economists. You only get to speak for you. Bigotry.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
17-07-2020 18:49
HarveyH55
★★★★★
(2189)
One of our local news stations has been investigating Covid-19 numbers, and a few other claims lately. Plan on visiting their website, to see if they have print articles, or videos of those. Oe was a coroner, who explained that blood clots or a common concern for anybody in the ICU for weeks at a time. Comes from poor circulation, from not being able to move around. Doesn't matter if it's a virus, or a car accident, or anything else. Mostly though, they were asking about how they determine what qualifies as a Covid-19 death. Apparently, there were a few car accident victims, listed as dying from Covid-19. The families were having trouble with insurance or something. There was another story, about test results. Several labs were only reporting 'positive' results, and a near 100% rate, which couldn't be right. They didn't even have a number, for how many tests they ran, to get their 'positive' numbers, so we could do a little simple math. Some of the excuses the labs gave, were sort of amusing, if they weren't implying that we are stupid enough to entertain...
17-07-2020 19:40
gfm7175Profile picture★★★★☆
(1094)
HarveyH55 wrote:
One of our local news stations has been investigating Covid-19 numbers, and a few other claims lately. Plan on visiting their website, to see if they have print articles, or videos of those. Oe was a coroner, who explained that blood clots or a common concern for anybody in the ICU for weeks at a time. Comes from poor circulation, from not being able to move around. Doesn't matter if it's a virus, or a car accident, or anything else. Mostly though, they were asking about how they determine what qualifies as a Covid-19 death. Apparently, there were a few car accident victims, listed as dying from Covid-19. The families were having trouble with insurance or something. There was another story, about test results. Several labs were only reporting 'positive' results, and a near 100% rate, which couldn't be right. They didn't even have a number, for how many tests they ran, to get their 'positive' numbers, so we could do a little simple math. Some of the excuses the labs gave, were sort of amusing, if they weren't implying that we are stupid enough to entertain...

Indeed ,and plenty of labs were quite literally claiming a 100% 'positive test result' rate... It's all a huge hoax.
17-07-2020 20:42
keepit
★★★★☆
(1620)
I don't think it's a hoax. Obviously there are a few anomalies but so what. 700,000 american doctors can't be wrong (or liars). There might be a few liars on the internet though.
Edited on 17-07-2020 21:27
17-07-2020 20:47
IBdaMannProfile picture★★★★★
(7300)
keepit wrote: I don't think it's a hoax.

It's a hoax ... which is probably why you don't think it's a hoax.

Printing dollars increases the number of dollars ... which is probably why you don't think it increases the number of dollars.


keepit wrote: 700,000 american doctors can't wrong (or liars).

The liars who pretend to speak for 700,000 American doctors and who intentionally misrepresent their positions are certainly wrong.

.
Attached image:

17-07-2020 21:42
gfm7175Profile picture★★★★☆
(1094)
IBdaMann wrote:
keepit wrote: I don't think it's a hoax.

It's a hoax ... which is probably why you don't think it's a hoax.

Printing dollars increases the number of dollars ... which is probably why you don't think it increases the number of dollars.


keepit wrote: 700,000 american doctors can't wrong (or liars).

The liars who pretend to speak for 700,000 American doctors and who intentionally misrepresent their positions are certainly wrong.

.

This belief of his still gets me... keepit doesn't realize that increasing the denominator by a larger amount than what the numerator is being increased by makes his "share of the pie" significantly smaller than it was before... For example:

$5 / $10 = 50%
$6 / $20 = 30%

Guess what boys and girls... 30% is quite a bit smaller than 50%...

"BUT, but I GAINED a dollar!!!", says keepit... "I'VE GAINED 20%!!! WHOA HOT DIGGITY!!!", says keepit...

That you did, good buddy, but due to the raising of M1 (printing dollars), there's now double the amount of dollars floating around... Your current $6 now actually has quite a bit LESS buying power than your previous $5 had before the raising of M1 (printing dollars)...


Then, as ITN so thoroughly explained earlier, let's say that while the fiat currency has now doubled, wealth has NOT doubled to keep up with it. Fiat currency is now growing FASTER than wealth is growing... This means inflation... This is "bad news bears"...
Edited on 17-07-2020 21:53
17-07-2020 21:50
keepit
★★★★☆
(1620)
gfm,
Your numbers are way off. That is what is fooling you.
17-07-2020 21:55
gfm7175Profile picture★★★★☆
(1094)
keepit wrote:
gfm,
Your numbers are way off. That is what is fooling you.

It doesn't matter what numbers I choose. My underlying point remains the same.

This is why your batting average remains abysmally low...
17-07-2020 21:59
keepit
★★★★☆
(1620)
You say, "it doesn't matter what numbers i choose."
Credibility man, credibility!
17-07-2020 22:48
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
I don't think it's a hoax. Obviously there are a few anomalies but so what. 700,000 american doctors can't be wrong (or liars). There might be a few liars on the internet though.

You don't get to speak for 700,000 doctors. You only get to speak for you.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
17-07-2020 22:50
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
gfm,
Your numbers are way off. That is what is fooling you.


His numbers are an example of taking a percentage, dumbass. His math is correct.

No argument presented. Denial of mathematics.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
17-07-2020 22:52
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
You say, "it doesn't matter what numbers i choose."
Credibility man, credibility!


GFM is correct. It doesn't matter what numbers he chose for his examples.

No argument presented. Denial of math.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
17-07-2020 22:58
keepit
★★★★☆
(1620)
You're more trouble than you're worth ITN. You never learn.
17-07-2020 23:24
gfm7175Profile picture★★★★☆
(1094)
keepit wrote:
You say, "it doesn't matter what numbers i choose."
Credibility man, credibility!

In an example of taking a percentage, such as I did in my above example, it doesn't matter what numbers I choose to make my point. My point remains the same...
17-07-2020 23:28
keepit
★★★★☆
(1620)
gfm,
If one of the numbers (numerator or denominator) are wrong, the % will vary and you will come to erroneous conclusions.
17-07-2020 23:30
gfm7175Profile picture★★★★☆
(1094)
keepit wrote:
You're more trouble than you're worth ITN. You never learn.

Projecting your own issues onto ITN again, I see??

I purposely used really small numbers... just for you... Obviously, you have infinitesimal to zero working knowledge of mathematics...

Where did I lose you?? Did you understand that 5/10 = 50%? Is converting from a fraction to a percent throwing you off?? Is the "divide by" symbol ("/") throwing you off?? I'm not sure where I lost you... I sure as hell hope that you are able to count... (1, 2, 3, 4, 5, ... ...)?? What kind of background in mathematics am I working with here?
Edited on 17-07-2020 23:32
17-07-2020 23:35
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
You're more trouble than you're worth ITN. You never learn.


You don't get to declare my worth. Inversion fallacy.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
17-07-2020 23:35
keepit
★★★★☆
(1620)
gfm,
You ask for my background in math. I took 49 credit hours of math in college. and had a b+ average. Later i took a correspondence course in public and private accounting and earned a correspondence diploma. Your patronizing questions about basic arithmetic are kind of annoying. You're the one that has a relatively lower level of arithmetic and math background.
17-07-2020 23:36
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
gfm,
If one of the numbers (numerator or denominator) are wrong, the % will vary and you will come to erroneous conclusions.


There is no wrong or right number. False dichotomy fallacy.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
17-07-2020 23:39
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
gfm,
You ask for my background in math. I took 49 credit hours of math in college. and had a b+ average.

I don't believe you.
keepit wrote:
Later i took a correspondence course in public and private accounting and earned a correspondence diploma.

i don't believe you.
keepit wrote:
Your patronizing questions about basic arithmetic are kind of annoying.

You are denying basic arithmetic.
keepit wrote:
You're the one that has a relatively lower level of arithmetic and math background.

This from one that is illiterate in mathematics and denies the same.

No argument presented. Denial of math.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
17-07-2020 23:44
keepit
★★★★☆
(1620)
ITN,
Calling people liars doesn't make your case. It just makes you sound like there's something wrong with you.
18-07-2020 00:12
gfm7175Profile picture★★★★☆
(1094)
keepit wrote:
gfm,
If one of the numbers (numerator or denominator) are wrong, the % will vary and you will come to erroneous conclusions.

My point doesn't rely upon "correct" numbers in the numerator or denominator. My point is solely about the decrease in the "share of the pie" when the numerator does not proportionately increase with the denominator.

If the denominator doubles and the numerator less than doubles, then your "share of the pie" (the percentage) will decrease.

If the total pie increases in size from $10 to $20, and your share of it only increases from $5 to $6, then your share of the pie has decreased, in this case from 50% down to 30%.

You can try this with any numbers of your choosing for the numerator and denominator (so long as the numerator increases proportionately less than the denominator does). For example:

$20 / $100 = 20%
$40 / $210 = 19%
19% < 20%

Maybe another time, for good measure...

$15,000,000 / $100,000,000 = 15%
$25,000,000 / $200,000,000 = 12.5%
12.5% < 15%

So, as you can see, it doesn't matter what numbers I choose. So long as the denominator is increasing proportionately faster than the numerator is, your "share of the pie" is decreasing...


One more example, for good measure...

$1,200 * 330,000,000 = $396,000,000,000

$1,200,000,000,000 + $396,000,000,000 = $1,596,000,000,000

$100,000 / $1,200,000,000,000 = ~0.0000083333%
$101,200 / $1,596,000,000,000 = ~0.0000063409%

Once again, like in my original example I gave you...
~6.3e^-6 < ~8.3e^-6


At this point, I KNOW FULL WELL that I have completely gone over your head, but others might get it...
18-07-2020 00:19
keepit
★★★★☆
(1620)
In the immortal words of Cramer of CNBC, "YOU KNOW NOTHING!". However , i believe you resume.
Your judgement about my arithmetic and math background is flawed and you resume isn't helping you come to the correct conclusion.
Edited on 18-07-2020 00:23
18-07-2020 00:19
gfm7175Profile picture★★★★☆
(1094)
keepit wrote:
gfm,
You ask for my background in math. I took 49 credit hours of math in college. and had a b+ average. Later i took a correspondence course in public and private accounting and earned a correspondence diploma. Your patronizing questions about basic arithmetic are kind of annoying. You're the one that has a relatively lower level of arithmetic and math background.

I don't believe you, as you seem to be quite mathematically illiterate.

I, on the other hand, have an associates degree in accounting and have been an accounting assistant for a local residential/commercial landlord for almost eight years now. I am no mathematical 'genius', per se, but I am no mathematical dummy either.
18-07-2020 00:22
gfm7175Profile picture★★★★☆
(1094)
keepit wrote:
In the immortal words of Cramer of CNBC, "YOU KNOW NOTHING!".

Once again, this is your issue, not mine. YOU are the mathematical illiterate, not me.

I've even offered to teach you... That's why I asked what your baseline knowledge of mathematics is... Apparently it isn't much beyond simple addition...

keepit wrote:However , i believe you resume.
Your judgement about my arithmetic and math background is flawed and you resume isn't helping you come to the correct conclusion.

I can see people believing it, since I have shown that I do indeed know a thing or two about mathematics.

I have already shown you where your mathematical understanding is lacking. So have others...
Edited on 18-07-2020 00:28
18-07-2020 00:25
keepit
★★★★☆
(1620)
Your patronizing attitude is ineffective.
18-07-2020 00:32
gfm7175Profile picture★★★★☆
(1094)
keepit wrote:
Your patronizing attitude is ineffective.

Then show your supposed understanding of the mathematics and economics that I am discussing with you... So far you have given evidence that you are currently quite illiterate in both... I used to be less literate in such topics, but I have since learned from people who are more literate than myself, and have since become more literate in those topics.

My advice to you is to be willing to learn from those more literate than yourself.
18-07-2020 00:49
keepit
★★★★☆
(1620)
More of your patronizing attitude huh. I don't need your advice. Your credibility is zilch. I'm not illiterate in math or economics. Show specific evidence for that claim.
18-07-2020 01:42
James___
★★★★★
(2987)
keepit wrote:
More of your patronizing attitude huh. I don't need your advice. Your credibility is zilch. I'm not illiterate in math or economics. Show specific evidence for that claim.



keepit, since I am in an **** type of mood. Are you and gfm7175 married and is he your wife? It sure seems to me that you are being henpecked because you took your bitches egg and ate it for breakfast.
I know, I mixed terms, a bitch is a female dog and hens lay eggs. I guess I am saying that your female dog is upset that she laid an egg like a hen and that you ate it for breakfast.
Hopefully you do not find my soliloquies injurious to yourself. I mean you no harm.
18-07-2020 01:57
keepit
★★★★☆
(1620)
Thanks James. It's time for happy hour, wouldn't you say. It's been a rough day in the cyberworld.
18-07-2020 02:24
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
Your patronizing attitude is ineffective.


Patronizing attitude???? What alien planet are you receiving YOUR messages from??


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
18-07-2020 02:26
Into the NightProfile picture★★★★★
(13005)
keepit wrote:
More of your patronizing attitude huh. I don't need your advice. Your credibility is zilch. I'm not illiterate in math or economics. Show specific evidence for that claim.

He doesn't need to. You have already shown it.

You are illiterate in math AND economics.


The Parrot Killer

Debunked in my sig. - tmiddles

Google keeps track of paranoid talk and i'm not on their list. I've been evaluated and certified. - keepit
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