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NoXion
Craicy the Squirrel
No. The monetary value of the carrot when you sell it is determined by market conditions, not how much energy it took for you to grow it.
You could be growing the carrots using a supremely wasteful method that burns a lot of energy, but you are still able to sell tons of them on the cheap because your carrot farming operation is subsidised by the government. Or you could be using a low-energy method to grow carrots, but you still end up selling them in small quantities for large amounts of money, because you're marketing those carrots as hand-reared fancy artisanal carrots towards a market segment with more money than sense.
In either case, the calorific density of the carrot is going to be more or less the same. After all, if high rates of inflation are pushing the prices of carrots skywards, it's not like they become more nutritious while sitting on the shelf.
beesonthewhatnow
going deaf for a living
This is absolute bullshit.
Storm Fox
Trying the find the next noun to verb
Just some figures I found:
100g of carrots cost about £0.05 gives you 41 kCalories so £0.009 per kCal
100g of Truffles is about £100 and gives you 286 kCals so £2.86 per Kcal.
So Money being related to Calorific value except for the vaguest terms is total rubbish.
Also at the peak of tulip mania one bulb cost 5200 guilders. NOT accounting for inflation that is 2359 Euros so it has nothing to do with the energy but human whims and needs.
BTW bullshit 500KCals per 100g and costs money to remove.
NoXion
Craicy the Squirrel
Doing some very rough sums, I calculate that the mass-energy of a half-pound turd is equal to 12.5 billion KWh. At current UK electricity prices of 34p/KWh, this means that according to cryptocultist econophysics, the financial value of the turd is £4.25 billion.
Although I have this very, very slight hunch that you will not be able to pay off the electricity bills for the rest of your life by mailing said turd to one's electricity supplier. Just a gut feeling, ya know?
Storm Fox
Trying the find the next noun to verb
Again The Mass Energy Infomation conjecture
From Cookie Absent
So even if the conjecture is true, the energy in the entire blockchain is 0.00000000898755J
I cannot find a figure for the total energy used in creating the Bitcoin blockchain, but in one year it uses 150 Terawatthours so that is an efficiency rate of 1/6.008311497571641^22
So that's a pretty shit conversion rate.
I have posted this before, but q_w_e_r_t_y you keep stating that bitcoin is some intrinsic store of energy.
If you have another paper that explains the information/energy equivalence please post it.
From Cookie Absent
So even if the conjecture is true, the energy in the entire blockchain is 0.00000000898755J
I cannot find a figure for the total energy used in creating the Bitcoin blockchain, but in one year it uses 150 Terawatthours so that is an efficiency rate of 1/6.008311497571641^22
So that's a pretty shit conversion rate.
I have posted this before, but q_w_e_r_t_y you keep stating that bitcoin is some intrinsic store of energy.
If you have another paper that explains the information/energy equivalence please post it.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
Well you say that, but just turn the turd into information and then you'd know how to.
King Biscuit Time
Well-Known Member
The main problem with using Black Holes as currency is that a pocket full of them can really ruin the look of your jeans.
maomao
普費斯
You could write 'Bitcoin is shit' on the wall with it.
q_w_e_r_t_y
You see an investment scam and I see divinity
NoXion you need one of these
www.reuters.com
South Korean toilet turns excrement into power and digital currency
Using a toilet can pay for your coffee or buy you bananas at a university in South Korea, where human waste is being used to help power a building.
www.reuters.com
Boris Sprinkler
Dont be scared
That is genius
Rob Ray
Weight is meaningless
You know things are going well when Boris Johnson is being tapped to promote blockchain.
Supine
Newt Member
Another waste of energy
gosub
~#
Imagine Percy from Blackadder, having invented Green carrying on for 300 pages about it
nogojones
spelling is overrated
I'd totally trust any coin he was associated with.
I know some cryptobros can be a bit deluded, but you'd have to be an utter moron to trust any cash with him
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
q_w_e_r_t_y
You see an investment scam and I see divinity
Only a catastrophe for large firms that over-leveraged. Break even price is around $18.6k at the moment. (exchange rate is $17.1k)
A new generation of mining machines came online about 7 months ago, more efficient, but required capital investment - this is what the majority of these loans are, with both bitcoin and hardware being used as collateral, if they are liquidated, the bitcoin will be sold for fiat driving the price down and the machines are likely to be sold on to smaller miners.
Cheap bitcoin and greater decentralisation of mining - whats not to love?
littlebabyjesus
one of Maxwell's demons
What's not to love is every single one of those mining machines. Something in the order of 0.5% of the world's electricity is squandered on running those things. !! Wtaf? They are an abomination.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
I think aside from the schadenfreude, some of the detail in that article shows the issues with the whole 'hold on and wait for the next upswing' stuff. The market last year was obviously pumped up with enormous amounts of money lent to people involved, sometimes with Bitcoin as capital it seems. Now those lenders are busy scraping around to recover what they can (and most of the decision makers have been fired I suspect) will that be the case next time? I doubt it - there's only so many places you can go to borrow a billion dollars and they've either been taught a very expensive lesson or they've seen others learn it.
SBF charged with “orchestrating a massive, years-long fraud”
SEC slaps SBF with first round of charges
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK Plaintiff: SECURITIES AND ) EXCHANGE COMMISSION, Defendant: SAMUEL BANKMAN-FRIED Plaintiff Securities and Exchange Commission (the “Commission”), for its complaint against Defendant, Samuel Bankman-Fried (“Bankman-Fried”), alleges as follows:
SUMMARY
1. From at least May 2019 through November 2022, Bankman-Fried engaged in a scheme to defraud equity investors in FTX Trading Ltd. (“FTX”), the crypto asset trading platform of which he was CEO and co-founder, at the same time that he was also defrauding the platform’s customers. Bankman-Fried raised more than $1.8 billion from investors, including U.S. investors, who bought an equity stake in FTX believing that FTX had appropriate controls and risk management measures. Unbeknownst to those investors (and to FTX’s trading customers), Bankman-Fried was orchestrating a massive, years-long fraud, diverting billions of dollars of the trading platform’s customer funds for his own personal benefit and to help grow his crypto empire.
2. Throughout this period, Bankman-Fried portrayed himself as a responsible leader of the crypto community. He touted the importance of regulation and accountability. He told the public, including investors, that FTX was both innovative and responsible. Customers around the world believed his lies, and sent billions of dollars to FTX, believing their assets were secure on the FTX trading platform. But from the start, Bankman-Fried improperly diverted customer assets to his privately-held crypto hedge fund, Alameda Research LLC (“Alameda”), and then used those customer funds to make undisclosed venture investments, lavish real estate purchases, and large political donations.
3. Bankman-Fried hid all of this from FTX’s equity investors, including U.S. investors, from whom he sought to raise billions of dollars in additional funds. He repeatedly cast FTX as an innovative and conservative trailblazer in the crypto markets. He told investors and prospective investors that FTX had top-notch, sophisticated automated risk measures in place to protect customer assets, that those assets were safe and secure, and that Alameda was just another platform customer with no special privileges. These statements were false and misleading. In truth, Bankman-Fried had exempted Alameda from the risk mitigation measures and had provided Alameda with significant special treatment on the FTX platform, including a virtually unlimited “line of credit” funded by the platform’s customers.
4. While he spent lavishly on office space and condominiums in The Bahamas, and sank billions of dollars of customer funds into speculative venture investments, Bankman-Fried’s house of cards began to crumble. When prices of crypto assets plummeted in May 2022, Alameda’s lenders demanded repayment on billions of dollars of loans. Despite the fact that Alameda had, by this point, already taken billions of dollars of FTX customer assets, it was unable to satisfy its loan obligations. Bankman-Fried directed FTX to divert billions more in customer assets to Alameda to ensure that Alameda maintained its lending relationships, and that money could continue to flow in from lenders and other investors.
5. But Bankman-Fried did not stop there. Even as it was increasingly clear that Alameda and FTX could not make customers whole, Bankman-Fried continued to misappropriate FTX customer funds. Through the summer of 2022, he directed hundreds of millions more in FTX customer funds to Alameda, which he then used for additional venture investments and for “loans” to himself and other FTX executives. All the while, he continued to make misleading statements to investors about FTX’s financial condition and risk management. Even in November 2022, faced with billions of dollars in customer withdrawal demands that FTX could not fulfill, Bankman-Fried misled investors from whom he needed money to plug a multi-billion-dollar hole. His brazen, multi-year scheme finally came to an end when FTX, Alameda, and their tangled web of affiliated entities filed for bankruptcy on November 11, 2022.
The first thing to note in the rap sheet is the date, “From at least May 2019 . . .”, by which the SEC means FTX’s entire existence. It was around May 2019 that SBF bought the FTX.com domain and the first fundraising announcement didn’t drop until August of that year.
Monkeygrinder's Organ
Dodgy geezer swilling vapid lager
Nothing to do with crypto though. He's just a naughty boy. 
BigTom
Well-Known Member
I read on reddit that he went on to coffeezilla for a youtube interview a day or two ago and admitted to committing fraud, saying that he'd transferred funds from FTX to alameda, then the ledgers said the funds had gone back but they actually hadn't.
It's nothing intrinsic to crypto, and certainly similar scams have and will be run using other things, but it's definitely got a lot to do with crypto.
Who used crypto to run a massive fraud, and because of FTX's position in the crypto world it most definitely has a big effect on crypto. Institutional investors should be a lot more careful after this, may back out of crypto entirely.Nothing to do with crypto though. He's just a naughty boy.
It's nothing intrinsic to crypto, and certainly similar scams have and will be run using other things, but it's definitely got a lot to do with crypto.
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