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it makes me mad that draper lost more than I will ever make on something as dumb as bitcoin. like I can stomach it if a thousand nerds lose a couple grand, but ten million? ugh
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Jan 4, 2015 18:28
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theflyingexecutive posted:it makes me mad that draper lost more than I will ever make on something as dumb as bitcoin. like I can stomach it if a thousand nerds lose a couple grand, but ten million? ugh look at it this way, when very rich but very stupid people become very poor, usually someone else becomes very rich because of it i like to call it
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Jan 4, 2015 18:30
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My favorite part of this is that the Winklevoss twins look like morons and are presumably losing a lot of money.
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Jan 4, 2015 18:30
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triple sulk posted:My favorite part of this is that the Winklevoss twins are a bunch of morons and have lost a lot of money. ftfy
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Jan 4, 2015 18:34
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Ursine Asylum posted:look at it this way, when very rich but very stupid people become very poor, usually someone else becomes very rich because of it yeah but he's still going to be rich at the end of it and the only people profiting off of his stupidity are the feds and other bitlords
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Jan 4, 2015 18:42
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so? both of those ultimately result in broader wealth distributions than tim draper just stashing twenty million dollars in his mattress, much less actually investing it wisely
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Jan 4, 2015 18:53
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theflyingexecutive posted:the only people profiting off of his stupidity are the feds true theflyingexecutive posted:and other bitlords they played the lottery and won, and it was only a couple hundred more hours
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Jan 4, 2015 18:54
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[–]CoinRookie 3 points 8 hours ago* I've bought alllll the "cheep coinz" - but they've all lost tremendous value... their equivalent fiat value is down about 55% over 13.5 months (avg. cost of about USD$640) I stopped buying about 2 weeks before Christmas, and haven't bought again since, and I will only buy again (in bulk) when we plumb the double digits, as I personally have a use for bitcoin, and wouldn't mind buying up a significant amount if they were to hit $30 again. It's an unpopular opinion, but I'm very close to the mining industry, and cost to mine a bitcoin, all things being equal, will drop by 70-80% this year - so - I might get lucky with some sub-$100 coins in 7-8 months time. For now, I just have to deal with all of the collateral damage of being involved in Bitcoin, from losing friends, to losing professional credibility, to the plethora of health problems arising from lack of sleep and inability to have an appetite. Bitcoin did truly ruin my life in 2014 - but deep down, I know that it is one of the very few hopes for the survival of the human species, and even though I'm smoking huge amounts of hopium, I wish that it will one day succeed. I consider my involvement in Bitcoin as a charitable pursuit to try and fix the cancerous world financial system and the gross inequality we see in the world. Ironic, I know, as BTC is the most unequal system known to man at this point. All I see are the benefits, but in reality, it has turned out to be quite the facade / scam run by the early adopters, preying on the emotions and hopes of people who want the world to change positively.
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Jan 4, 2015 19:02
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triple sulk posted:My favorite part of this is that the Winklevoss twins look like morons and are presumably losing a lot of money. Winklevoss aquired a bunch of their coins before the second bubble at sub $100 price points.
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Jan 4, 2015 19:14
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PCjr sidecar posted:the infinite is possible at marinecoin Anything is possible with Zombocoin
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Jan 4, 2015 19:20
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RubberJohnny posted:[–]CoinRookie 3 points 8 hours ago* has anyone said stockholm syndrome coin yet?
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Jan 4, 2015 19:22
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vanilla slimfast posted:has anyone said stockholm syndrome coin yet? has anyone said battered wife coin yet?
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Jan 4, 2015 19:23
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My wifecoin left me that sperm hacking whore. But im gonna get a hotter altwife who believes in my silly dreams
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Jan 4, 2015 19:28
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so ESPN caused this crash simply by cashing out their bitcoin?
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Jan 4, 2015 19:29
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PleasureKevin posted:so ESPN caused this crash simply by cashing out their bitcoin? Perhaps Microsoft can put the people behind MCC on the case and really get to the bottom of this
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Jan 4, 2015 19:30
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vanilla slimfast posted:has anyone said battered wife coin yet? Ray Rice coins
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Jan 4, 2015 19:34
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Alan Smithee posted:My wifecoin left me that sperm hacking whore. But im gonna get a hotter altwife who believes in my silly dreams piece on the sidechain
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Jan 4, 2015 19:41
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Don Lapre posted:I wouldn't be surprised if we saw bitcoin sitting north of $2500 within the next 90 days. I wouldn't be surprised if the whole btc market was worth that by then
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Jan 4, 2015 19:45
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smokin that hopium
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Jan 4, 2015 19:45
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bitcoin goes up: "oh gently caress yeah take that poors I'm going to be ruling class yall doubted me well grab on these haters" bitcoin goes down: "I consider my endeavors to be the charitable pursuit of financial equality for the good of all mankind"
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Jan 4, 2015 19:46
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"gentlemen it has been a privilege playing with you tonight, now let's perform 'oh god oh god I reverse mortgaged my house for this in e minor'"
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Jan 4, 2015 19:52
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has anyone called the hodlers butt clenchers yet?
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Jan 4, 2015 19:54
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has anyone come up with any game of thrones jokes besides HODOL and The Mountain Gox yet?
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Jan 4, 2015 19:56
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i haven't seen this posted here https://www.youtube.com/watch?v=mjk26AAvJ38 a video about paycoin featuring some great stock and stolen photos
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Jan 4, 2015 19:57
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quote:You know what’s going to destroy Bitcoin? Nothing, that’s what. Maybe a nuclear war or a giant meteor could do it, but not much else. The problem with Bitcoiners is that they think Bitcoin is fragile when it is really antifragile. It is no coincidence that Bitcoin keeps surviving every crisis. It survives because it is immortal. https://www.youtube.com/watch?v=d2-MKq27hIQ
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Jan 4, 2015 20:16
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AlbieQuirky posted:piece on the sidechain
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Jan 4, 2015 20:22
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FCKGW posted:Winklevoss aquired a bunch of their coins before the second bubble at sub $100 price points. they did an interview in the runup before the $266 bubble where they claimed they picked up ~100,000 bitcoins from june 2012 to january 2013 at $8-$15 apiece. who knows what they did since that second bubble but if they threw in the towel it'd pretty quickly crash everything
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Jan 4, 2015 20:24
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reminder that the entire bitcoin network relies on a dwindling pool of volunteer pcs
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Jan 4, 2015 20:37
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The Management posted:so under the most ideal conditions and not considering miner profits or transaction fees or bandwidth costs of the price of hardware it costs $150 million per year just to keep the network running. all to do what a single database running on a single computer can handle in transaction processing. according to blockchain.info there are around 70000 transactions/day so about $5.50. even if the network was running at 7 tx/sec it'd be like 65 cents. the current transaction fees are massively subsidized by the block rewards but nobody ever seems to want to talk about that for some mysterious reason
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Jan 4, 2015 20:40
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ArchWizard posted:has anyone come up with any game of thrones jokes besides HODOL and The Mountain Gox yet? master of the coin the buywall the bearwhale and the virgin basement dweller fair
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Jan 4, 2015 21:07
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surebet posted:it does makes it worthwhile again ( percentually ) mods
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Jan 4, 2015 21:27
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sub 270 in the last few hours.
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Jan 4, 2015 21:28
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fermun posted:they did an interview in the runup before the $266 bubble where they claimed they picked up ~100,000 bitcoins from june 2012 to january 2013 at $8-$15 apiece. who knows what they did since that second bubble but if they threw in the towel it'd pretty quickly crash everything That's why they're trying to launch that ETF. pass the bag onto others without selling onto bitcoin markets. They're trying to calculate the value in the same way bitcoiners do. total bitcoins times current price equals value. No accounting for the lack of liquidity and market depth. The SEC should take one look at the bearwhale situation and see that anybody with 1/10th of the number of bitcoins the winkletwinks have can massively manipulate the market they're trying to base the ETF on, and call in a FEMA hitsquad to take out everybody involved.
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Jan 4, 2015 21:28
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PleasureKevin posted:so ESPN caused this crash simply by cashing out their bitcoin? RIP Stuart Scott and bitcoin
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Jan 4, 2015 21:33
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fermun posted:they did an interview in the runup before the $266 bubble where they claimed they picked up ~100,000 bitcoins from june 2012 to january 2013 at $8-$15 apiece. who knows what they did since that second bubble but if they threw in the towel it'd pretty quickly crash everything
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Jan 4, 2015 21:52
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Jan 4, 2015 22:08
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Boxturret posted:i haven't seen this posted here thank you fiverr dot com
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Jan 4, 2015 22:11
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hard to say who the straw man is in this straw man comic
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Jan 4, 2015 22:15
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i dont get these they are too dumb to take seriously, and simultaneously too dumb to be parody
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Jan 4, 2015 22:16
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triple sulk posted:My favorite part of this is that the Winklevoss twins look like morons and are presumably losing a lot of money. So, basically, a regular day for them?
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Jan 4, 2015 22:16
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