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unpacked robinhood posted:someone made negative money on kickstarter I'm the kickstarted "self made" promotions group
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Jan 14, 2015 17:54
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the most interesting chart is the one where andreas says something is good and on the board of it and then the thing tanks and he jumps ship
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Jan 14, 2015 17:55
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trucutru posted:
likely true though because QuarkJets posted:I just want bitcoin to plummet to sub-$100 levels so that all of those big warehouses full of ASICs have to shut down.
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Jan 14, 2015 17:56
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Muscle Tracer posted:likely true though because Nah, it's not a chicken-or-the-egg problem. The price drives the hashing/difficulty chart, not the other way around. (And then you have the sunken cost fallacy to prop the hashing up). Although, if the hashing plummets, then the generation of new coins will slowdown and prevent them to be dumped as fast. But 1800 or so less coins per day are not a big deal.
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Jan 14, 2015 18:05
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So did Andreas actually make any money out of this? I mean clearly people like BFL and Karpeles & Tibbane, Pirate40 and the multitude of other overt and covert scammers have made out like bandits, to various degrees of getting away with it. But is Andreas actually a true believer? Or has he just been playing these idiots to make some money? Has he been associated with any of the scams directly?
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Jan 14, 2015 18:05
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JFairfax posted:So did Andreas actually make any money out of this? He worked as a security consultant for the buttcoinfoundation (and was paid in useless fiat) and charges fees (in useless fiat) for his public speaking so yeah. He's not a true believer, just a typical weasel.
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Jan 14, 2015 18:07
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JFairfax posted:So did Andreas actually make any money out of this? There have been a few "I am Antdreas Antonpoulous and I endorse this service" things where the site closes down for being a scam a few weeks later, which amazingly hasn't hurt his reputation because bitcoiners have the memory span of a gldfish
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Jan 14, 2015 18:08
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so much happening happened while i was asleep sad i missed the suicide hotline not getting modded
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Jan 14, 2015 18:09
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he also has that book http://www.amazon.ca/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042
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Jan 14, 2015 18:09
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please embed this in the thread, tia https://www.youtube.com/watch?v=5nT0g887ShE
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Jan 14, 2015 18:18
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Real talk here, is there a campaign against bitcoin suddenly? I know this may sound conspiracy theory esq... But the major robbery to destroy faith in the security of it, and then a major plunge in the price to make people think it's unstable. Maybe I'm being paranoid... But this is a lot to happen at once for never having anything like this before. A truly independent currency not tied to any country for control, it's like people are ditching the federal reserve and it's scared someone.
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Jan 14, 2015 18:23
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To the panic sellers... (self.Bitcoin) submitted an hour ago * by Nooku You didn't have the faintest idea of what you had bought, did you. The Bitcoin network can be seen as one of the largest versatile super computers ever made so far, and access to this network is required by tokens named Satoshis. Every time you sell 1 Bitcoin, you are trading in 100 million of these tokens (Satoshis) for a few hundred meaningless dollars. It makes me LOL a bit. Thx for the discounts.
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Jan 14, 2015 18:24
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Ploft-shell crab posted:But this is a lot to happen at once for never having anything like this before. literally a goldfish
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Jan 14, 2015 18:25
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quote:[–]fucknozzle 4 points 5 hours ago So yeah, mining will always be profitable because, when it stops being so you won't be mining! quote:
trucutru fucked around with this message at 18:29 on Jan 14, 2015 |
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Jan 14, 2015 18:26
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Ploft-shell crab posted:Real talk here, is there a campaign against bitcoin suddenly? I know this may sound conspiracy theory esq... But the major robbery to destroy faith in the security of it, and then a major plunge in the price to make people think it's unstable. Maybe I'm being paranoid... But this is a lot to happen at once for never having anything like this before. A truly independent currency not tied to any country for control, it's like people are ditching the federal reserve and it's scared someone.
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Jan 14, 2015 18:28
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kalstrams posted:cybergenocide of sovereign citizens 
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Jan 14, 2015 18:29
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Heh, I totally wanted the price to drop guys. Totally saw this coming when I bought in at $600, so if you think this is making me upset or anything you're totally wrong. In fact I'd love it if the price dropped some more (gonna jinx it heheheh)
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Jan 14, 2015 18:29
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Ploft-shell crab posted:Real talk here, is there a campaign against bitcoin suddenly? I know this may sound conspiracy theory esq... But the major robbery to destroy faith in the security of it, and then a major plunge in the price to make people think it's unstable. Maybe I'm being paranoid... But this is a lot to happen at once for never having anything like this before. A truly independent currency not tied to any country for control, it's like people are ditching the federal reserve and it's scared someone. no, we've been on this cliff for a while, waiting for the drop. Here's a timeline of how we got here The high price was faked, bought up with money that didn't exist by magikarpeles. In order for the price to go up, more people would have to buy in, than early adopters sold out miners spent millions and millions of dollars on mining hardware based on the expectation of the price staying where it was or going higher forever. These miners now have $500,000+ daily power bills. miners selling their haul to pay their power bill gradually wears the price down the lower the price, the more they have to sell the more they sell, the faster the price drops the faster the price drops, the more they have to sell. All these hodl retards combined can't do poo poo. 1000 idiots each dumping 1000 dollars only buys up 2 days worth of miners power bill sales.
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Jan 14, 2015 18:30
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trucutru posted:Although, if the hashing plummets, then the generation of new coins will slowdown and prevent them to be dumped as fast. But 1800 or so less coins per day are not a big deal. but that's what's interesting. price is on a loving yoyo, but if it starts meaningfully impacting miners who have been increasing pretty linearly until now, that's taking laffs to a whole new level
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Jan 14, 2015 18:31
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I'm still cumming
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Jan 14, 2015 18:34
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speaking of hashing plummeting, more than 6 blocks were found in the last hour, someone stepped in to fill the cointerra/cex.io gap.
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Jan 14, 2015 18:37
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Ploft-shell crab posted:Real talk here, is there a campaign against bitcoin suddenly? I know this may sound conspiracy theory esq... But the major robbery to destroy faith in the security of it, and then a major plunge in the price to make people think it's unstable. Maybe I'm being paranoid... But this is a lot to happen at once for never having anything like this before. A truly independent currency not tied to any country for control, it's like people are ditching the federal reserve and it's scared someone. yes did you not see the fudge bearwhale cake??
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Jan 14, 2015 18:41
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Muscle Tracer posted:but that's what's interesting. price is on a loving yoyo, but if it starts meaningfully impacting miners who have been increasing pretty linearly until now, that's taking laffs to a whole new level That already happened. Hashing power is going down since the last difficulty adjustment. Miners are mothballing their machines. The next difficulty target is -0.55% (and going down because we are in the first few days of the cycle). I know what you mean, and you're right, it is interesting. I am just being pedantic about it.
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Jan 14, 2015 18:43
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Jizz Festival posted:To the panic sellers... (self.Bitcoin) hey guize remember all those times the successful businessmen if yesteryear couldn't stop
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Jan 14, 2015 18:44
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Jizz Festival posted:To the panic sellers... (self.Bitcoin) at this point I  for like a whole minute
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Jan 14, 2015 18:46
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im the largest most versatile super computer that can only ever compute SHA1 hashes
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Jan 14, 2015 18:50
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it's like having the world's most powerful and deadly space laser but using it to gently caress w/ an anthill
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Jan 14, 2015 18:55
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Powershift posted:speaking of hashing plummeting, more than 6 blocks were found in the last hour, someone stepped in to fill the cointerra/cex.io gap. that's too short a timeframe to conclude that someone filled the gap in
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Jan 14, 2015 18:56
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"zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero zero Forty-two," said Deep Thought, with infinite majesty and calm. "I checked it very thoroughly," said the computer, "and that quite definitely is the answer. I think the problem, to be quite honest with you, is that you've never actually known what the question is." "But it was the Great Question! The Ultimate Question of Life, the Universe and Everything," howled Loonquawl. "Yes," said Deep Thought with the air of one who suffers fools gladly, "but what actually is it?" A slow stupefied silence crept over the men as they stared at the computer and then at each other. "Well, you know, it's just Everything … Everything ..." offered Phouchg weakly. "Exactly!" said Deep Thought. "So once you know what the question actually is, you'll know what the answer means."
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Jan 14, 2015 19:00
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quote:"The fundamentals of the six-year-old currency are stronger today than they have ever been and we think we are going to continue to see many interesting developments in 2015." (wired.co.uk) interesting teaser quote. i wonder who said it...a respected analyst with years of experience...a phd economist with a great reputation... quote:Amadeo Pellicce, chief operating officer and co-founder of UK-based bitcoin exchange Coinfloor oh ok
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Jan 14, 2015 19:03
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fwiw im pretty sure i have the same credentials as that guy (or better seeing as i didnt invest in bitcoin) and i think the fundamental value of bitcoin is $0 so its still extremely overvalued
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Jan 14, 2015 19:05
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Yes, yes, the fundamentals. That sounds like something a smart person would say.
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Jan 14, 2015 19:05
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Jizz Festival posted:Yes, yes, the fundamentals. That sounds like something a smart person would say. Or a high school basketball coach. Cash in a mayonnaise jar in the back yard turned out to be the winning strategy after all, Coach Lymes!
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Jan 14, 2015 19:07
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http://www.grcooling.com/bitcoin-mining/ x infinity
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Jan 14, 2015 19:12
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Powershift posted:speaking of hashing plummeting, more than 6 blocks were found in the last hour, someone stepped in to fill the cointerra/cex.io gap. Did cex.io actually shut down the miners or did they just stop renting out?
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Jan 14, 2015 19:13
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Jan 14, 2015 19:14
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theflyingexecutive posted:it's like having the world's most powerful and deadly space laser but using it to gently caress w/ an anthill
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Jan 14, 2015 19:15
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looking forward to the youtube vid of the massive mineral oil explosion at the bitcoin factory when their illegally tapped water gets shut off before their illegally tapped electricity
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Jan 14, 2015 19:20
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quote:The fundamentals of the six-year-old currency are stronger today than they have ever been and we think we are going to continue to see many interesting developments in 2015. I agree with him. There's been plenty of interesting developments already this year and the fundamentals are as terrible as ever.
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Jan 14, 2015 19:21
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CampingCarl posted:Couldn't that just happen by chance? Looking at blockchain.info the average time for a block was still around 8 minutes so even losing a bunch of power 6 in an hour doesn't seem unrealistic. Though if there is a better graph that shows distribution of block time rather than just average I would like to see it. yes, the time of a handful of blocks isn't that statically relevant. it's like saying a cold day disproves global warming. mining is essentially a big game of "I'm thinking of a number, run your guesses through this hash algorithm to see if you got it right." so while the difficulty aims to make it take an average of ten minutes, it's just a matter of probability. that's why confirmation times are so variable, as even with a good fee, your tx might get confirmed in a minute, or two hours.
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Jan 14, 2015 19:27
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