badfeel posted:

loosing money

quote:

If the first phase of the company’s business plan is selling cloud mining services, the second is providing priority services for transactions, so that certain customers can get their transactions approved ahead of others in the blockchain. If a network can manage to control a large chunk of approvals, they can add additional fees to prioritize transactions, Ackermann says. In the future, the chief technology officer envisions selling its ASICs in 10nm format for mobile devices to Apple, LG, and Samsung to support NFC replacement in mobile devices to enable crypto authentication at registers. And finally, if the blockchain becomes the backbone for the internet of things, then processing transactions explodes, and powerful mining technologies become even more valuable.

quote:

Bitcoin Elevator Pitch (self.Bitcoin)
submitted 4 hours ago by intergalacticrockets
As a longtime bitcoin fan and advocate, I too often get asked the question "Wait. What's this bitcoin thing again?"? As I think about it, I realize that it's a valid, and tough, question to answer. "the next generation Peer to peer digital cryptocurrency" works only with my nerdiest friends, and "the future of money" sounds generic.
So, I ask the interwebs: Given roughly 30 seconds, how would you describe bitcoin to the uninitiated? An elevator pitch if you will...

quote:

[–]Roboguy3 13 points 3 hours ago
Bitcoin is cash for the internet like web pages are newspapers of the internet.

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[–]justgimmieaname 1 point 2 hours ago
Yup. "It's Money 2.0, designed specifically for the internet and e-commerce"

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[–]DickSnow 1 point an hour ago
Agreed. It's better money that can now exist because of the internet.

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[–]montaigne85 13 points 3 hours ago*
"Separation of money and state" - that will often trigger their curiosity to look it up for themselves

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[–]bigwhitebike 4 points 3 hours ago
It might not be 100% sound but I always go with, "Bitcoins are like cash for the internet. No middle man, anyone with an internet connection can accept it, and for laughably low transaction fees."
"What do you mean laughably low?"
"Well I've seen $19M worth of bitcoins be transferred without a fee (US auctioned bitcoins). You might just have to wait a little longer than 10 seconds."

quote:

[–]bruce_fenton 4 points 2 hours ago
Like email for money.
Money in banks is really just a ledger entry that says who has what.
This new invention makes it so the ledger can be public for everyone to see while still offering privacy.
Since it's public and open it's actually more secure than one center all organization and it also eliminates many of the drawbacks of a central organization such as fees, risk of central failure and being seized by another party.

quote:

Bitcoin is Apple Pay for people without iPhones.

trucutru posted:

TVarmy posted:

blockchain becomes the backbone for the internet of things

kwinkles posted:

is bitcoin still bitcoining?

Boxturret posted:

TVarmy posted:

no the blockchain isn't the internet of things, it's a database so all things on earth will know about all things because everything will be on a public ledger of things.

the internet of thigns is more like this. image if you ran low on milk, but then your fridge ordered more milk? or you needed to wash your underpants, and you're out of laundry soap and don't use a hamper, so then your clothes washing machine pays money to a drone to buy some detergent and pick up your dirty clothes? its like a mom, but its also cyberpunk.

MGN001 posted:

And then it turns out the fridge ordered the wrong kind of milk, so you kick it out of the house. Then it goes "gently caress you, dad" and puts an order for an automatic drone hit.

duTrieux. posted:

tea leaves are literally more readable than this

TVarmy posted:

Kramer's first name is Cosmo, not Frank.

trucutru posted:

Heresiarch posted:

"bitcoin?!" karpeles kramers in the door and just keeps kramering, sliding off around the room, bouncing against walls. he kramers against your toilet, busting it up big time. you get the feeling he's trying to say something to you but he's kramering at such a high velocity you just can't quite make it out. as he finally nails a window and falls out you think you hear him exclaim "I'm a libertarian, that's what's so CRAZY about this" on the way down

TVarmy posted:

no the blockchain isn't the internet of things, it's a database so all things on earth will know about all things because everything will be on a public ledger of things.

the internet of thigns is more like this. image if you ran low on milk, but then your fridge ordered more milk? or you needed to wash your underpants, and you're out of laundry soap and don't use a hamper, so then your clothes washing machine pays money to a drone to buy some detergent and pick up your dirty clothes? its like a mom, but its also cyberpunk.

newreply.php posted:

when i was in NYC, bill murray came from behind me, put his hands over my eyes, then revealed himself to me and handed me a single coin, bearing his likeness.

he just said "no one will ever believe you", and darted away

surebet posted:

jfc it's like staring into the abyss with these people

Hammerite posted:

I look forward to he future in which my new washing machine has to download petabytes of blockchain before I can start doing my laundry

Fleve posted:

Because I am obviously being paid to do so by my statist-shill-banking-consortium, I just went through the last 11 hours of changetip tips and threw em in an excel sheet.

Out of a total of 350 tips over roughly the last 11 hours, 109 or just a little above 30% are currently still unclaimed. All 350 tips together were worth a total of roughly $73 dollars, making the average tip size, rounded up, $0.21. The most commonly tipped amount was $0.033 or whatever the current equivalent of 100 bits is. The smallest amount tipped was $0.00000325 or 1 satoshi, or 3¼ millionth of a dollar, or 3¼ ten-thousandths of a cent.

On an hourly basis, the amount going through changetip ($6.64) is lower than minimum wage pay. But of course this is entirely normal because those wages assume that you will make up for it... with...tips...oh.

Fleve posted:

On average the unclaimed tips are actually slightly higher than the claimed tips, coming in at around $0.23 vs. $0.21. You'd expect most unclaimed tips to tend towards the lower end, as the amounts get increasingly trivial and not worth claiming, but there are actually a few $1 tips and even one $3.50 tip that are so far unclaimed. Perhaps because it's only the most recent 11 hours, and of course 350 tips with 109 unclaimed is an incredibly small pool of data to work with, but I suspect another reason as well.

Amongst Bitcoiners, any tip regardless of quantity is likely to be claimed. The disconnect between real money and Bitcoins seems greater, with people readily accepting 1-1000 satoshi's even though those are just fractions of cents. I guess if you keep cheering in your echo cave, 1000 something seems a lot, as long as you don't express it in dollars. This probably causes a lower average tip-value.

Non-Bitcoiners meanwhile are far more likely to not even bother accepting a tip. First, because they can't be arsed to find out whatever the hell a satoshi or a bit is. Second, as long as it's an insubstantial amount, why bother at all; accepting a tip of $1 or less is just way too much of a hassle, especially if you then can't actually cash it out or do anything with it, except tip others and join the tip-circle-jerk.

Fleve posted:

A quick look through changetip and the data seems to support that Bitcoin is far less accepted outside of Bitcoin-related subreddits, based on the last 100 or so entries, I'd say an acceptance rate of roughly 30% outside of Bitcoin, versus 70% total. But a lot of those seem to be from Bitcoin-attempts to disseminate Bitcoin by starting a tipping-crusade in other subreddits, a quite recent development of Bitcoiners in an attempt to lure non-druggies into their misery by handing out samples.

Heresiarch posted:

"bitcoin?!" karpeles kramers in the door and just keeps kramering, sliding off around the room, bouncing against walls. he kramers against your toilet, busting it up big time. you get the feeling he's trying to say something to you but he's kramering at such a high velocity you just can't quite make it out. as he finally nails a window and falls out you think you hear him exclaim "I'm a libertarian, that's what's so CRAZY about this" on the way down

Heresiarch posted:

"bitcoin?!" karpeles kramers in the door and just keeps kramering, sliding off around the room, bouncing against walls. he kramers against your toilet, busting it up big time. you get the feeling he's trying to say something to you but he's kramering at such a high velocity you just can't quite make it out. as he finally nails a window and falls out you think you hear him exclaim "I'm a libertarian, that's what's so CRAZY about this" on the way down

ChickenOfTomorrow posted:

drat i wish i could find the original of this

TVarmy posted:

its like a mom, but its also cyberpunk.

Greyhawk posted:

"juche?!" stymie stymies in the door and just keeps stymieing, sliding off around the room, bouncing against walls. he stymies against your toilet, busting it up big time. you get the feeling he's trying to say something to you but he's stymieing at such a high velocity you just can't quite make it out. as he finally nails a window and falls out you think you hear him exclaim "i'm an secular statist, that's what's so CRAZY about this" on the way down

RZA Encryption posted:

moore's law!!!!!

(washing machines will be able to wash 10000x more clothes by then, so by the time it's ready you'll be able to wash all the clothes that have accumulated at once)