SpelledBackwards posted:

phosdex posted:

This was linked in r/buttcoin:

Moridin920 posted:

i'm so smart for trading on the market, dumbo women

*trades penny stocks because he's a lazy shitter*
*posts PHAT GAINZ to the reddit before the inevitable total account wipeout 3 months later*




BUUUUHHHHHHH WHAT HAPPENED I WAS SO SMART

Maldoror posted:

Use tor browser

Go to site selling all kinds of cool weed and acid and other drugs

Add to cart

Pay

Bitcoins?

Need to install bitcoin, then go to exchange and exchange cash for bitcoin.

The bitcoin install needs 20 gigs because it works by storing every transaction ever made on every client.

This is a lot of work for my weed I added to my web cart. But I guess it's better than getting killed buying from a dealer in the hood?

Curse you, weed!

Cojawfee posted:

How do investments go to -100k?

Orange Red Bull posted:

can you buy weed from the web?

max4me posted:

I dont know how kosher it is to ask about the online drug trade but what stops some agents from buying a bunch of coke, and then tracing where the bitcoins go since its a open ledger.

Moridin920 posted:

He shorted a penny stock which then skyrocketed. It later crashed to bankruptcy (meaning he woulda made money) but his brokerage margin called him because he was -$100k and closed out the account haha.

When you short you borrow stocks, sell them, then hope later the price is lower than you sold it for. Later you need to 'cover' your short by buying the stock back and returning the shares to the person you borrowed them from (usually your broker). This is pretty much all automated nowadays but that is what happens. That's why your broker needs to have the stock in their 'inventory' (or get them from a clearing house or whatever) for you to short it.

So, what happens if you borrow stocks and sell them for $0.50 each but suddenly they are worth $80/ea and your broker is going 'hey I want that back now before the price goes up anymore because we have no confidence in your ability to repay us and we aren't going to absorb this loss anymore?' You're hosed that's what.

Dude was an idiot for shorting a penny stock and for not having a stop loss set up (not that it'll save you if the price moves fast enough). Generally it's a moronic idea to short penny stocks for exactly this reason but ofc that doesn't stop lazy 'get rich quick' people from doing it.

Facebook Aunt posted:

I love the wording here. We weren't robbed, some of our individual customers were robbed. Some of our customers were not robbed. Too bad for those guys who got robbed though. Don't blame us, blame the guy who robbed you.


Can you imagine a bank claiming some particular customer accounts were robbed rather than the bank itself being robbed? Yeah, sorry, the sack of money with your account number on it was stolen, so your money is gone.

Three-Phase posted:

Does the broker get left holding the bag if he just declares bankruptcy?

Orange Red Bull posted:

can you buy weed from the web?

Three-Phase posted:

Does the broker get left holding the bag if he just declares bankruptcy?

Moridin920 posted:

He shorted a penny stock which then skyrocketed. It later crashed to bankruptcy (meaning he woulda made money) but his brokerage margin called him because he was -$100k and closed out the account haha.

When you short you borrow stocks, sell them, then hope later the price is lower than you sold it for. Later you need to 'cover' your short by buying the stock back and returning the shares to the person you borrowed them from (usually your broker). This is pretty much all automated nowadays but that is what happens. That's why your broker needs to have the stock in their 'inventory' (or get them from a clearing house or whatever) for you to short it.

So, what happens if you borrow stocks and sell them for $0.50 each but suddenly they are worth $80/ea and your broker is going 'hey I want that back now before the price goes up anymore because we have no confidence in your ability to repay us and we aren't going to absorb this loss anymore?' You're hosed that's what.

Dude was an idiot for shorting a penny stock and for not having a stop loss set up (not that it'll save you if the price moves fast enough). Generally it's a moronic idea to short penny stocks for exactly this reason but ofc that doesn't stop lazy 'get rich quick' people from doing it.

Orange Red Bull posted:

can you buy weed from the web?

max4me posted:

That caliconnect moron who trade marked his silkroad name got busted from modesto of all loving places.

I would like to think that he had connections to pot growers, but it totally possible he just had a Medical Pot card and went to a pot shop to fill orders.

I live in the central valley and their are loving green cross shops everywhere hell i have a cousin who basically sleeps in one, he says its a bunch of gangbangers trying to go legit.

I can also say this you get these growers and gently caress everyone one is growing. The first step is to hot tap the power to your house to steal electricity. New homes that dont have a over head drop from the pole ( a weather head) but instead have conduct from the ground. Seems the conduct is plastic so put on some line man gloves and take some nylon rope and a few hours of rubbing you can tap into the power.

Now with all those lights your are gonna need some cooling, so most growers get a mini split system.

I had a system put in my workshop and they install thought I was gonna grow pot hence the weird conversation about how they do this poo poo.

The current big thing is THC extract or wax/shatter If you see a bunch of butane bottles in a dumpster that is what they were making. I saw apartment building a few blocks from me burn down because the assholes was doing that poo poo inside and turned on his loving garbage disposal.

max4me posted:

That caliconnect moron who trade marked his silkroad name got busted from modesto of all loving places.

I would like to think that he had connections to pot growers, but it totally possible he just had a Medical Pot card and went to a pot shop to fill orders.

I live in the central valley and their are loving green cross shops everywhere hell i have a cousin who basically sleeps in one, he says its a bunch of gangbangers trying to go legit.

I can also say this you get these growers and gently caress everyone one is growing. The first step is to hot tap the power to your house to steal electricity. New homes that dont have a over head drop from the pole ( a weather head) but instead have conduct from the ground. Seems the conduct is plastic so put on some line man gloves and take some nylon rope and a few hours of rubbing you can tap into the power.

Now with all those lights your are gonna need some cooling, so most growers get a mini split system.

I had a system put in my workshop and they install thought I was gonna grow pot hence the weird conversation about how they do this poo poo.

The current big thing is THC extract or wax/shatter If you see a bunch of butane bottles in a dumpster that is what they were making. I saw apartment building a few blocks from me burn down because the assholes was doing that poo poo inside and turned on his loving garbage disposal.

LonsomeSon posted:

This must be what it's like for other people to read posts I made while I was high.

max4me posted:

if my writing looks like work of a dyslexic monkey, well I am one of the two

divabot posted:

Let me link their sci-fi show synopsis. A worldwide economic collapse, as predicted by Austrian economics (predictor of 200 of the last 2 recessions), leads to a fictional Caribbean island being the richest place in the world because it adopted Ethereum first, somehow leading to an artificial intelligence taking over the world.

quote:

This system will be called Bitcache and Dotcom claimed its launch would send the bitcoin price soaring way above its current $575 value.

The launch of Megaupload 2.0 will take place on Jan. 20, 2017, he said, urging people to “buy bitcoin while cheap, like right now, trust me.” Bitcoin’s value fell sharply this week after a $72 million theft from the Hong Kong exchange Bitfinex, though it subsequently bounced back to a degree.

Crucially, Dotcom said the Bitcache system would overcome bitcoin’s scaling problems. “It eliminates all blockchain limitations,” he claimed.

Some retard whose "portfolio" depends on you doing what he says posted:

buy bitcoin while cheap, like right now, trust me.

quote:

Who We Are

Hanging out in our chat and available for questions is most of founding and core members of LBRY:

Jeremy Kauffman (/u/kauffj) - chief nerd
Reilly Smith (/u/LBRYcurationbot) - film producer and content curator
Alex Grintsvayg (/u/lyoshenka) - crypto hipster
Jack Robison (/u/capitalistchemist) - requisite anarchist college drop-out that once built guitars for Kiss
Mike Vine (/u/veritasvine) - loudmouth
Jason Robertson (/u/samueLBRYan) - memer-in-chief
Nerds from MIT, CMU, RPI and more (we love you Job, Jimmy, Kay, and every Alex)

Rusty! posted:

Wow, it's like buttcoin, but with videos.

Totally gonna destroy YouTube.

https://lbry.io

mrwuss posted:

I love that even reddit turn on them and told them the idea was stupid.

Fleve posted:

They were doing an AMA on reddit that pretty quickly revolved around questions such as "[...] what is the point of such system?", "How did this get funded?", and "Sounds like a money grab, how much of the half mil is going to your pockets?"