|
My dad just put 500 bucks down on Ether, hope it goes to the moon
|
#
?
Jun 14, 2017 16:45
|
|
|
|
| # ? Apr 19, 2024 13:26 |
|
|
Sentient Data posted:Lol, maybe back when cpu mining was a thing You mean when goons were telling everyone it was a scam and to stay away?
|
|
#
?
Jun 14, 2017 16:45
|
|
|
Ham Sandwiches posted:What are you talking about here? You. I mean, if you want to say "yeah you can make some money on a bubble provided you don't risk more than you're willing to lose," then that's one thing. But you're still literally arguing like it's such an amazing idea and that anyone not getting in on it and poo-pooing it is an idiot. Like, it's not "free money" in any of the multiple ways you've defined it, and you keep also talking about it as if it's a sure thing. We've said "no, it's not a sure thing in the least."
|
|
#
?
Jun 14, 2017 16:46
|
|
|
Comfy Fleece Sweater posted:My dad just put 500 bucks down on Ether, hope it goes to the moon I did the same thing about a year ago and it didn't move at all and then dropped by like 10 dollars by the end of the year. I paid relatively little and sold it after I figured that money would move more going into BTC. Now I see it's up to 300 lol whoops.
|
|
#
?
Jun 14, 2017 16:48
|
|
|
mojo1701a posted:You. Playing in the wild west of the unregulated crypto-market isn't for everyone. Some people are stupid and sometimes they don't have balls or even money.
|
|
#
?
Jun 14, 2017 16:49
|
|
|
mojo1701a posted:I mean, if you want to say "yeah you can make some money on a bubble provided you don't risk more than you're willing to lose," then that's one thing. Yeah that's the gist of it, you can speculate in these coins if you want to quote:But you're still literally arguing like it's such an amazing idea and that anyone not getting in on it and poo-pooing it is an idiot. Like, it's not "free money" in any of the multiple ways you've defined it, and you keep also talking about it as if it's a sure thing. Telling people to buy penny stocks is loving bizarre advice, to me. Offering it as a more viable, sensible alternative to coins for your speculation money is bizarre, to me. I feel penny stocks are a poor choice, you spend your money on them if you prefer though. [edit]And the FREE MONEY is me referring too when they were trivial to mine via CPU / GPU goons were helpfully warning their fellow goon not to do it, since it's a scam.
|
|
#
?
Jun 14, 2017 16:50
|
|
|
Ham Sandwiches posted:You mean when goons were telling everyone it was a scam and to stay away? I stand by my laffs. Just because someone could have potentially dodged multiple minefields while hitting the lottery doesn't mean it was a sane plan at all. Also, you're just talking about theoretical gains. If you got in at 3, you would have sold at 12. In at 100, sold at 50. In at 800, stolen by an exchange
|
|
#
?
Jun 14, 2017 16:52
|
|
|
Sentient Data posted:I stand by my laffs. Just because someone could have potentially dodged multiple minefields while hitting the lottery doesn't mean it was a sane plan at all. You mean the actual predictions goons made when nobody knew what would happen were proven demonstrably wrong over time and hosed over anyone that listened to them? All for the sake of dumb jokes that turned out to be... wrong?  Well I never
|
|
#
?
Jun 14, 2017 16:53
|
|
|
Sentient Data posted:I stand by my laffs. Just because someone could have potentially dodged multiple minefields while hitting the lottery doesn't mean it was a sane plan at all. In accounting it's what we call "Unrealized gain/loss." You declare it on long-term investments so you don't end up declaring a huge gain/loss when you finally dispose of an asset. That's the only reason you'd ever report it otherwise. Ham Sandwiches posted:You mean the actual predictions goons made when nobody knew what would happen were proven demonstrably wrong over time and hosed over anyone that listened to them? All for the sake of dumb jokes that turned out to be... wrong? But a lot of goons weren't. There have been multiple bubbles burst with tons of people buying into them at the peak with the belief that the bubble would go indefinitely. Sure if you held from the beginning you haven't lost anything, but for every coin cashed out at the top of a bubble, there had to be one purchased. That's literally how it works.
|
|
#
?
Jun 14, 2017 16:55
|
|
|
mojo1701a posted:But a lot of goons weren't. There have been multiple bubbles burst with tons of people buying into them at the peak with the belief that the bubble would go indefinitely. Sure if you held from the beginning you haven't lost anything, but for every coin cashed out at the top of a bubble, there had to be one purchased. That's literally how it works. Pointing out the churn on the way to the $3000 valuation is not being correct, it's being wrong. "Oh this exchange collapsed" sounds clever, except for the fact that aside from costing those people money, it's completely irrelevant. Don't worry Divabot will be here with a bunch of reddit stories and twitter links to make it seem catastrohpic! Then the price of coins will continue to rise while goons remain convinced of their imminent collapse. Yaknow, the cycle that has been repeating for 5 years, and has been wrong and dumb the whole way.
|
|
#
?
Jun 14, 2017 16:58
|
|
|
Ham Sandwiches posted:Pointing out the churn on the way to the $3000 valuation is not being correct, it's being wrong. "Oh this exchange collapsed" sounds clever, except for the fact that aside from costing those people money, it's completely irrelevant. Don't worry Divabot will be here with a bunch of reddit stories and twitter links to make it seem catastrohpic! So people losing their shirts because of their belief is just "churn". Gotcha.
|
|
#
?
Jun 14, 2017 17:01
|
|
|
If only I'd joined bitcointalk forums instead of dumb old GBS
|
|
#
?
Jun 14, 2017 17:01
|
|
|
mojo1701a posted:So people losing their shirts because of their belief is just "churn". Gotcha. Cherry picking one redditor who admitted he lost some money in an exchange collapse because you trawl r/bitcoin and r/ethererum looking for exactly that and trying to behave like that's representative is not correct, no. It's real cool how this stuff works. Bitcoins exist in an amazing state of superposition for goons. They're only real when you lose them. Any gains you make are unrealized, any losses on currency you mined are in fact real world losses.
|
|
#
?
Jun 14, 2017 17:03
|
|
|
Ham Sandwiches posted:Cherry picking one redditor who admitted he lost some money in an exchange collapse because you trawl r/bitcoin and r/ethererum looking for exactly that and trying to behave like that's representative is not correct, no. But again, for you to sell at $3,000, someone else has to buy at $3,000. That's how trading works. Same as on a stock exchange. If you want a more concrete example of how bubbles work, you should really come by the Canadian Debt Bubble megathread in D&D. Canada's entire economy right now is predicated on the price of housing currently being way higher than it ought to be, and how so many people have screwed themselves borrowing against the current market value of their property. And yes, gains/losses are only realized if you actually receive the money. That's how finance works. Do you really not understand this? And if you think we're cherry-picking, r/bitcoin itself had the suicide hotline phone number pinned to the top. They did that. Not us.
|
|
#
?
Jun 14, 2017 17:14
|
|
|
to avoid a wall of text I'll reply in portionsmojo1701a posted:But again, for you to sell at $3,000, someone else has to buy at $3,000. That's how trading works. Same as on a stock exchange. Ah yes the mythical bagholder, ignoring that these currencies are being created out of thin air. Who's going to be holding the bag?? Is it you??  quote:If you want a more concrete example of how bubbles work, you should really come by the Canadian Debt Bubble megathread in D&D. Canada's entire economy right now is predicated on the price of housing currently being way higher than it ought to be, and how so many people have screwed themselves borrowing against the current market value of their property. Yes and one of the things that I point out is that while Bitcoin is loving shady as poo poo, real instruments are pretty shady too, and somehow you seem to respond that I'm a true believer when I make this observation. I hope agreeing with something you said does not somehow imply I'm a true believer.
|
|
#
?
Jun 14, 2017 17:24
|
|
|
mojo1701a posted:And yes, gains/losses are only realized if you actually receive the money. That's how finance works. Do you really not understand this? The way it works for bitcoins is: If you've made any money off bitcoins it's not real, you will get arrested for tax fraud and the electricity you used to mine it wasn't free If you've lost any bitcoins due to hdd loss or exchanges that's your inheritance you'll never get back quote:And if you think we're cherry-picking, r/bitcoin itself had the suicide hotline phone number pinned to the top. They did that. Not us. So like, something that happened for a few days because it's loving reddit years ago gets presented as a normal state of affairs here on something awful years later? That's exactly the bullshit I'm talking about dude. Do you believe this is a regular thing over there?
|
|
#
?
Jun 14, 2017 17:26
|
|
|
Bit of a rocky night for Ol Bessy last night, we were messing with dual mining which slowed things down but she's back up and at em. I was able to mine decred and eth with a ~2% hit to the eth hashrate, however the extra load crashed it after ~15 minutes from overheating. I'll try some gpu-bios mods out tonight and see if I can get these cards dual mining in a stable way. I had to switch to windows too, linux has a dearth of tools for managing gpu clocks and voltages. https://www.ethermine.org/miners/765514Dd42CdD77b1F494f5dF184D6A361be3750 Go go go go!!! (Every time I check on it it makes me smile. Mine Ethereum, it's like mining happiness! Actually don't, difficulty is high enough as it is.)
|
|
#
?
Jun 14, 2017 17:40
|
|
|
I refuse to believe that any single human being can be this obtuse. You have got to be trolling. Anyway, even if you are totally correct to wave away the massive difference between what BTC is worth on paper and what any given user is actually going to get back out, you're still committing a huge logical fallacy. Say I have a friend who decides to dump all their money into a single penny stock. I tell them that this is a terrible idea. The next day, some Gordon Gecko type picks that particular stock to pump and dump. My friend makes a fortune, retires at 30, and comes to laugh in my face. The thing is, MY INITIAL ADVICE WAS STILL GOOD ADVICE. His investment was still incredibly dumb, and wasn't less dumb just because he got lucky.
|
|
#
?
Jun 14, 2017 17:41
|
|
|
Ham Sandwiches posted:Ah yes the mythical bagholder, ignoring that these currencies are being created out of thin air. Who's going to be holding the bag?? Is it you?? By that same logic, there were also no bagholders when the 2007 crash hit. Y'know, the one that Bitcoiners keep saying is proof that the banking system is fraudulent? Ham Sandwiches posted:Yes and one of the things that I point out is that while Bitcoin is loving shady as poo poo, real instruments are pretty shady too, and somehow you seem to respond that I'm a true believer when I make this observation. I hope agreeing with something you said does not somehow imply I'm a true believer. Some can be, sure, but the basis of our system is based upon democratic regulation. If my bank runs off with my money, I'm still insured by the CDIC (or the FDIC). I mean, there's still leaks and blah blah blah. Seriously, if my bank or investment house had the same systemic risks that Bitcoin does, we're all screwed. No, really. Ham Sandwiches posted:The way it works for bitcoins is: No, it's real only when you cash out. That's what we're arguing. If you can cash out, then sure, have fun. But it's way harder to cash out from an online exchange than any regulated loving bank or brokerage. If I want to sell my mutual funds, I can. Also lol at the possibility of losing my life's savings because my bank suffered hardware failure. If that's even possible then we're way more screwed than just some people losing money. And holy poo poo do you not realize that mining takes electricity that, y'know, costs money? Unless you're living in a dorm or siphoning electricity like a grow up. Actually, investing in marijuana is on the rise. I should get in on that. Ham Sandwiches posted:So like, something that happened for a few days because it's loving reddit years ago gets presented as a normal state of affairs here on something awful years later? That's exactly the bullshit I'm talking about dude. Do you believe this is a regular thing over there? Uh it's happened multiple times my dude. Like, no one opens up the NY times after a giant crash with ads for them.
|
|
#
?
Jun 14, 2017 17:48
|
|
|
mojo1701a posted:And holy poo poo do you not realize that mining takes electricity that, y'know, costs money? Unless you're living in a dorm or siphoning electricity like a grow up. Actually, investing in marijuana is on the rise. I should get in on that. There's no cost if you steal it 
|
|
#
?
Jun 14, 2017 18:09
|
|
|
|
|
#
?
Jun 14, 2017 18:30
|
|
|
Ham Sandwiches posted:Pointing out the churn on the way to the $3000 valuation is not being correct, it's being wrong. "Oh this exchange collapsed" sounds clever, except for the fact that aside from costing those people money, it's completely irrelevant. Don't worry Divabot will be here with a bunch of reddit stories and twitter links to make it seem catastrohpic! People losing money on Bitcoin is not irrelevant when pointing out how easy it is to lose money on Bitcoin numbnuts
|
|
#
?
Jun 14, 2017 19:26
|
|
|
I honestly think a bunch of posters in SA kept the FUD about bitcoin to make more profits themselves. Like I get if you kept your mouth shut during these times and didn't share how you were making money, but I suspect a bunch of goons of actively scaring others away
|
|
#
?
Jun 14, 2017 19:41
|
|
|
Who gives a poo poo if these berries are poisonous?! Look all around you, there are tons of humans still alive. Even a couple of the thousands that ate from this plant survived, so that means I'll thrive!
|
|
#
?
Jun 14, 2017 19:43
|
|
|
And sure it was full of risks but us Goons were uniquely well positioned to profit from this poo poo in case it worked. We had the gaming hardware, the nerdy disposition, the time (thanks to a lack of social life) We should've been #1 in trying this poo poo out, and we certainly could've laughed about the poo poo while we profited and risked literally nothing, but nooooo let's give money to the Hot dog man, let's organize complex spreadsheets for Eve online or whatever you assholes do For what it's worth I've got 100 extra dollars in cold hard cash in my bank account from this last week, by leaving my gaming puter on when not playing. I haven't noticed TOO MUCH brain damage and my berries are dry af come at me
|
|
#
?
Jun 14, 2017 19:43
|
|
|
Ham Sandwiches posted:And I'm just wondering, now that 4 years later Bitcoin is $3000... who gives a poo poo whether that guy bought bitcoins himself or not, he called it correctly. Why was whether the guy who made the claim that it woudl go to $3000 also personally investing every spare dollar into Bitcoin... why would that change whether or not Bitcoin would reach $3000? Typically, people that actually believe something like this will actually do the smart thing, and make their money. When they aren't following their own advice, it's a sign that they were just spitballing random numbers, with little to no faith in it actually happening. It's more than likely this is a case of the latter. And, given your reluctance to actually come up with a number, it's likely you were in the same boat as everyone you're now claiming to be wrong. The only difference is that you want to act superior about others being wrong after the fact. You came here. You stated you're making money. Others are asking for the barest shred of evidence, which you could easily lie about, and nobody would care or notice. But, you choose to feign outrage over people wanting proof of what you said.
|
|
#
?
Jun 14, 2017 19:58
|
|
|
Ham Sandwiches posted:If you've made any money off bitcoins it's not real, you will get arrested for tax fraud its called report your earnings and write the IRS a check for their cut dipshit. holy gently caress how do you even function in society?
|
|
#
?
Jun 14, 2017 20:13
|
|
|
"All you self employed people are IDIOTS!! You're gonna get arrested for tax evasion and it was all for NOTHING! You should have just gotten a job at GOOGLE with your self lacing bootstraps."
|
|
#
?
Jun 14, 2017 20:14
|
|
|
SpaceClown posted:its called report your earnings and write the IRS a check for their cut dipshit. Didn't the IRS write some actual rules for declaring capital gains on cryptocurrency? Like, cost base being the FMV of a coin on the day it was mined?
|
|
#
?
Jun 14, 2017 20:16
|
|
|
They did. https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply quote:The notice provides that virtual currency is treated as property for U.S. federal tax purposes. General tax principles that apply to property transactions apply to transactions using virtual currency. Among other things, this means that:
|
|
#
?
Jun 14, 2017 20:19
|
|
|
I do have to say though, I want the loving day traders to get the gently caress out of bitcoins. You're loving with my drug money.
|
|
#
?
Jun 14, 2017 20:21
|
|
|
EorayMel posted:They did. How do they require you to determine cost base on a mined coin, is it by exchange estimate? I mean, it's pretty obvious that they can't require most people to estimate given their power bill and GPU usage.
|
|
#
?
Jun 14, 2017 20:29
|
|
|
mojo1701a posted:How do they require you to determine cost base on a mined coin, is it by exchange estimate? I mean, it's pretty obvious that they can't require most people to estimate given their power bill and GPU usage. I have no idea. I'm gonna go with whatever gain/loss you made from acquiring a bitcoin and giving away in a transaction, like long/short term capital gain stuff like with stocks and cars.
|
|
#
?
Jun 14, 2017 20:30
|
|
|
decentralized distributed cryptocurrency!!!! https://ftalphaville.ft.com/2017/06/14/2190149/blockchains-governance-paradox/ quote:Blockchain’s governance paradox tldr: lmao
|
|
#
?
Jun 14, 2017 20:39
|
|
|
Sentient Data posted:Who gives a poo poo if these berries are poisonous?! Look all around you, there are tons of humans still alive. Even a couple of the thousands that ate from this plant survived, so that means I'll thrive! https://www.google.com/amp/s/amp.reddit.com/r/Drugs/comments/4av916/datura_is_my_favourite_drug/
|
|
#
?
Jun 14, 2017 21:02
|
|
|
Comfy Fleece Sweater posted:I honestly think a bunch of posters in SA kept the FUD about bitcoin to make more profits themselves.  The dogecoiners were right all along.. to the moon!!!!!!
|
|
#
?
Jun 15, 2017 01:10
|
|
|
Ha, doge's growth is funny to see since I remember a post on a different forum offering to sell blocks of a million for $13 back when it was new. Apparently that's worth about 3k now if you could actually get the money out. Long live this generation's meme-techno-beanie-babies, and more power to you if you actually made a profit on them but lol at the thought of treating it as an actual investment Any butt stuff going on? Recent/upcoming halvings, infighting about protocol stuff, size and growth of the chain files, etc
|
|
#
?
Jun 15, 2017 03:31
|
|
|
There bank of Canada was researching blockchain and then declared it was retarded
|
|
#
?
Jun 15, 2017 03:37
|
|
|
|
|
#
?
Jun 15, 2017 05:20
|
|
|
|
| # ? Apr 19, 2024 13:26 |
|
|
Ham Sandwiches posted:Telling people to buy penny stocks is loving bizarre advice, to me. Offering it as a more viable, sensible alternative to coins for your speculation money is bizarre, to me. I feel penny stocks are a poor choice, you spend your money on them if you prefer though. It is the same as what you're saying about bitcoin. It is the same as saying "you should try taking your fun money and bet it all at the slot machines! For just a few bucks you can win MILLIONS!"
|
|
#
?
Jun 15, 2017 05:53
|
|
