Starbucks says it will accept crypto currency, but not bitcoin
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@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@irj said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
I'm not sure how wildly the other crypto coins are fluctuating, but that can't be really usable.
From what I businesses that accept it currently have an agreement with the payment solution that exchanges for cash instantly. They lock in the rate for 60 seconds during the transaction and honor in the locked in rate while the exchange completes. Business gets cash.
god knows that couldn't be bitcoin then.. I heard it can take over 10 hrs to lock in a transaction.
That's why no one sees it as heavily viable.
Hense my statement... I don't see how StarBucks can use it, unless as someone else pointed out.. that the transaction is locked with a "crypto converter" to USD the moment the transaction happens. Starbucks doesn't likely care about hanging onto crypto currency.. they likely want USD (for US customers).
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@dafyre said in Starbucks says it will accept crypto currency, but not bitcoin:
@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
I'm not sure how wildly the other crypto coins are fluctuating, but that can't be really usable.
Why wouldn't it be usable?
Because if I buy a cup of coffee from you right this second, and 1 BTC is worth $6, but in 10 seconds, it's suddenly worth 60 cents... That's losing the business money, until BTC goes back up.
exactly!
But that makes NO sense.
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@irj said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
I'm not sure how wildly the other crypto coins are fluctuating, but that can't be really usable.
From what I businesses that accept it currently have an agreement with the payment solution that exchanges for cash instantly. They lock in the rate for 60 seconds during the transaction and honor in the locked in rate while the exchange completes. Business gets cash.
god knows that couldn't be bitcoin then.. I heard it can take over 10 hrs to lock in a transaction.
That's why no one sees it as heavily viable.
Hense my statement... I don't see how StarBucks can use it, unless as someone else pointed out.. that the transaction is locked with a "crypto converter" to USD the moment the transaction happens. Starbucks doesn't likely care about hanging onto crypto currency.. they likely want USD (for US customers).
That's not how currency works. You are using a completely false assumption, that currencies you don't use fluctuate at an insane rate that has never been witnessed anywhere ever, and that currencies you do use do not do this - and then using that false assumption as the basis for further logic. But your starting point is invalid. Even the craziest currencies with any liquidity do not do that at all.
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
Makes sense, I am tired of crypto currency being equal to bitcoin.
Bitcoin is the first version of it, think x86, and then other versions like x86-x64 with enhancements.
Bitcoin gave unfair advantage to greed instead of community, it allowed people to get GPU + special mining ASIC modules and gave them power up.
My money is on MONERO, it actually tried to punish and limit people that use GPU, and that makes sense, instead of wasting earth electricity, we all have computers, and if you ran task (you can only make it 1 core task from your quad or hexa or 8 cpu) on that computer and you believed in something that is value,
I wonder if this is a misunderstanding?
Perhaps MONERO does do these limits, but really, how practical are they? So you have a six core system, you just virtualize it and run 6 processes.
This seems like the thinking of the record companies - in their attempts to use DRM to keep pirates from making copies of songs. I just don't expect it to really work as people will always try to find ways to game the system.There was no difference in the gold rush days - those with money could afford to buy the land and hire the help to find the gold, today they buy the ASICs to mine the bitcoin.
The limit is not on the CPU, the limit they put are on GPU and ASIC .
You can run MONERO mining on all of your CPU threads, or only 1, or 2,3,4 ...etc
However they try to limit GPU mining and ASIC mining, which gives unfair advantage, and helps create market for greed mining, like mining farms, but when you do CPU only mine, it kinda gives everyone somewhat of fair chance, or it makes it realistic for normal users to get involved and be part of something, instead of someone else hijacking all the coins.
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@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
Makes sense, I am tired of crypto currency being equal to bitcoin.
Bitcoin is the first version of it, think x86, and then other versions like x86-x64 with enhancements.
Bitcoin gave unfair advantage to greed instead of community, it allowed people to get GPU + special mining ASIC modules and gave them power up.
My money is on MONERO, it actually tried to punish and limit people that use GPU, and that makes sense, instead of wasting earth electricity, we all have computers, and if you ran task (you can only make it 1 core task from your quad or hexa or 8 cpu) on that computer and you believed in something that is value,
I wonder if this is a misunderstanding?
Perhaps MONERO does do these limits, but really, how practical are they? So you have a six core system, you just virtualize it and run 6 processes.
This seems like the thinking of the record companies - in their attempts to use DRM to keep pirates from making copies of songs. I just don't expect it to really work as people will always try to find ways to game the system.There was no difference in the gold rush days - those with money could afford to buy the land and hire the help to find the gold, today they buy the ASICs to mine the bitcoin.
The limit is not on the CPU, the limit they put are on GPU and ASIC .
You can run MONERO mining on all of your CPU threads, or only 1, or 2,3,4 ...etc
However they try to limit GPU mining and ASIC mining, which gives unfair advantage, and helps create market for greed mining, like mining farms, but when you do CPU only mine, it kinda gives everyone somewhat of fair chance, or it makes it realistic for normal users to get involved and be part of something, instead of someone else hijacking all the coins.
But it makes mining take WAY more electricity and time.
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@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
Makes sense, I am tired of crypto currency being equal to bitcoin.
Bitcoin is the first version of it, think x86, and then other versions like x86-x64 with enhancements.
Bitcoin gave unfair advantage to greed instead of community, it allowed people to get GPU + special mining ASIC modules and gave them power up.
My money is on MONERO, it actually tried to punish and limit people that use GPU, and that makes sense, instead of wasting earth electricity, we all have computers, and if you ran task (you can only make it 1 core task from your quad or hexa or 8 cpu) on that computer and you believed in something that is value,
I wonder if this is a misunderstanding?
Perhaps MONERO does do these limits, but really, how practical are they? So you have a six core system, you just virtualize it and run 6 processes.
This seems like the thinking of the record companies - in their attempts to use DRM to keep pirates from making copies of songs. I just don't expect it to really work as people will always try to find ways to game the system.There was no difference in the gold rush days - those with money could afford to buy the land and hire the help to find the gold, today they buy the ASICs to mine the bitcoin.
The limit is not on the CPU, the limit they put are on GPU and ASIC .
You can run MONERO mining on all of your CPU threads, or only 1, or 2,3,4 ...etc
However they try to limit GPU mining and ASIC mining, which gives unfair advantage, and helps create market for greed mining, like mining farms, but when you do CPU only mine, it kinda gives everyone somewhat of fair chance, or it makes it realistic for normal users to get involved and be part of something, instead of someone else hijacking all the coins.
What is greed mining? To me greed requires that someone must be doing something illegal. So - is there an illegal component to ASIC mining?
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
Makes sense, I am tired of crypto currency being equal to bitcoin.
Bitcoin is the first version of it, think x86, and then other versions like x86-x64 with enhancements.
Bitcoin gave unfair advantage to greed instead of community, it allowed people to get GPU + special mining ASIC modules and gave them power up.
My money is on MONERO, it actually tried to punish and limit people that use GPU, and that makes sense, instead of wasting earth electricity, we all have computers, and if you ran task (you can only make it 1 core task from your quad or hexa or 8 cpu) on that computer and you believed in something that is value,
I wonder if this is a misunderstanding?
Perhaps MONERO does do these limits, but really, how practical are they? So you have a six core system, you just virtualize it and run 6 processes.
This seems like the thinking of the record companies - in their attempts to use DRM to keep pirates from making copies of songs. I just don't expect it to really work as people will always try to find ways to game the system.There was no difference in the gold rush days - those with money could afford to buy the land and hire the help to find the gold, today they buy the ASICs to mine the bitcoin.
The limit is not on the CPU, the limit they put are on GPU and ASIC .
You can run MONERO mining on all of your CPU threads, or only 1, or 2,3,4 ...etc
However they try to limit GPU mining and ASIC mining, which gives unfair advantage, and helps create market for greed mining, like mining farms, but when you do CPU only mine, it kinda gives everyone somewhat of fair chance, or it makes it realistic for normal users to get involved and be part of something, instead of someone else hijacking all the coins.
What is greed mining? To me greed requires that someone must be doing something illegal.
To you. But in no way whatsoever does greed imply illegality. In some very important cases, like fiduciary responsibility, greed is incorporated into business law in America. Greed is the law of the land itself.
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@dashrender the word greed has nothing to do with legality.
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Greed means "intense and selfish desire for something, especially wealth, power, or food."
Greed only means desire, not action. Doing something illegal almost always means that they can't be greedy because, most of the time, illegal actions end up making you lose in the long run, not win.
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@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
Greed means "intense and selfish desire for something, especially wealth, power, or food."
Greed only means desire, not action. Doing something illegal almost always means that they can't be greedy because, most of the time, illegal actions end up making you lose in the long run, not win.
OK fine - I'll accept that- so where does greed run into issues?
Oh.. you're saying it doesn't run into issues - it's what incorporated businesses want.
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Back to @Emad-R post about unfair advantage and greed mining..
Still don't know what he means?
These crypto mining seems to be the most fair thing you can do - assuming you have net neutrality.
i.e. if you have the funds, you can build at many miners as you can afford.
If as Scott said:
@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
But it makes mining take WAY more electricity and time.
The rich will still be able to afford WAY more electricity and the poor, even better, the rich can afford to be mobile and do their work where power is cheaper, where the poor often can't move to that area.
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
Back to @Emad-R post about unfair advantage and greed mining..
Still don't know what he means?
These crypto mining seems to be the most fair thing you can do - assuming you have net neutrality.
i.e. if you have the funds, you can build at many miners as you can afford.
If as Scott said:
@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
But it makes mining take WAY more electricity and time.
The rich will still be able to afford WAY more electricity and the poor, even better, the rich can afford to be mobile and do their work where power is cheaper, where the poor often can't move to that area.
It seems CPU reached a limit regarding Parallel processing. especially x86 arch. which creates the equal playing field.
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
Greed means "intense and selfish desire for something, especially wealth, power, or food."
Greed only means desire, not action. Doing something illegal almost always means that they can't be greedy because, most of the time, illegal actions end up making you lose in the long run, not win.
OK fine - I'll accept that- so where does greed run into issues?
Oh.. you're saying it doesn't run into issues - it's what incorporated businesses want.
Real greed doesn't really run into issues.
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
Back to @Emad-R post about unfair advantage and greed mining..
Still don't know what he means?
These crypto mining seems to be the most fair thing you can do - assuming you have net neutrality.
i.e. if you have the funds, you can build at many miners as you can afford.
Same with other types of mining. This doesn't make it more fair. It just artificially changes the system to make it less efficient.
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@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
It seems CPU reached a limit regarding Parallel processing. especially x86 arch. which creates the equal playing field.
In what way does that equal the playing field? I see nothing of the sort. It just takes a naturally uneven playing field and makes it equally, or more, uneven but in a pointless and artificial way.
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@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
It seems CPU reached a limit regarding Parallel processing. especially x86 arch. which creates the equal playing field.
In what way does that equal the playing field? I see nothing of the sort. It just takes a naturally uneven playing field and makes it equally, or more, uneven but in a pointless and artificial way.
how do you see the playing field as uneven? Unless you're talking about how power is more expensive in some places vs others.
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@dashrender said in Starbucks says it will accept crypto currency, but not bitcoin:
@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
@emad-r said in Starbucks says it will accept crypto currency, but not bitcoin:
It seems CPU reached a limit regarding Parallel processing. especially x86 arch. which creates the equal playing field.
In what way does that equal the playing field? I see nothing of the sort. It just takes a naturally uneven playing field and makes it equally, or more, uneven but in a pointless and artificial way.
how do you see the playing field as uneven? Unless you're talking about how power is more expensive in some places vs others.
How was it ever uneven? The field is uneven always in the same way - the rich can afford more and faster processors, more electric, etc. Whether that power comes in the form of CPUs, GPUs, ASICs, etc. doesn't really matter. The field was always uneven to give the rich more ability to mine, and it remains just as uneven. Making it just way more expensive, if anything, would help the rich more than the poor because the overall value of the mining is less so only larger scale would have any real purpose.
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It seems a bizarre assumption that the use of CPUs is somehow "fair and even" and using GPUs is "unfair." How could technology work that way? If we step back, it's really double precision processors are fair and single precision processors are unfair. Sounds pretty bizarre when put in math terms, right?
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@scottalanmiller said in Starbucks says it will accept crypto currency, but not bitcoin:
It seems a bizarre assumption that the use of CPUs is somehow "fair and even" and using GPUs is "unfair." How could technology work that way? If we step back, it's really double precision processors are fair and single precision processors are unfair. Sounds pretty bizarre when put in math terms, right?
This was my whole point.
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This is all likely to change if the lightning network gets going. I'm not well versed enough to try to explain it, in a clear concise text post, but it is a add on that will allow for near instant transfers and the ability to keep sort of a tab open for micro transactions to take place, then close out after services. Google it if you are interested in how it works under the hood.
