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https://twitter.com/bitmexrekt/status/945010902650191872 That’s about $400k lost betting on video card number values amirite? oversteer fucked around with this message at 20:50 on Dec 24, 2017 |
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Dec 24, 2017 20:45
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vortmax posted:I'm still waiting on that list of large bitcoin companies and exchanges that have submitted to an external audit, since Uranium seems to think they exist. someone asked specifically about coinbase and i said that submitting to an external audit is a condition of their bitlicense
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Dec 24, 2017 20:49
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XK posted:Still nobody can say what Ethereum does. they have a partnership with microsoft just so you know !!
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Dec 24, 2017 20:50
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oversteer posted:https://twitter.com/bitmexrekt/status/945010902650191872 I think the 5,312,500 is actual dollar value. And, that exchange offers 1,000x leverage? Might only be $5,000 lost?
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Dec 24, 2017 21:02
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XK posted:Dogecoin was the only functional and non-exploitive crypto. What a world. You don't want to know what the side who inflated the price of dogecoin did https://motherboard.vice.com/en_us/article/78xqxb/the-guy-who-ruined-dogecoin OJ MIST 2 THE DICK fucked around with this message at 21:08 on Dec 24, 2017 |
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Dec 24, 2017 21:04
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Jikes posted:how odd when bitcoiners are known for their good financial sense i'm hodlmoon.com and bitcoins are totally not a meme
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Dec 24, 2017 21:06
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XK posted:I think the 5,312,500 is actual dollar value. And, that exchange offers 1,000x leverage? Might only be $5,000 lost?
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Dec 24, 2017 21:07
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You idiots, Amazon is going to start taking bitcoin payments next year and you will be left crying, like a filthy NoCoiner, as you deserve
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Dec 24, 2017 21:15
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Uranium 235 posted:lol what, i never said that Did they do it? I’d think you’d know better than most here. Coinbase is like the biggest exchange in all of btc I thought. Today at least. Lols throughout https://www.nytimes.com/2017/12/06/technology/coinbase-bitcoin.html Burt Sexual fucked around with this message at 21:28 on Dec 24, 2017 |
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Dec 24, 2017 21:21
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Comfy Fleece Sweater posted:You idiots, Amazon is going to start taking bitcoin payments next year and you will be left crying, like a filthy NoCoiner, as you deserve
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Dec 24, 2017 21:34
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Nessus posted:It is funny because if Amazon came up with some kind of inhouse store credit coin they could actually probably pull it off. The Tinglecoin.
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Dec 24, 2017 21:40
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I'm traveling for Christmas and my bitcoin balance wasn't enough to cover the hostel plus transaction fees so now I'm sleeping with my wife and dog at the homeless shelter. Thanks roger verr
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Dec 24, 2017 21:53
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Nessus posted:It is funny because if Amazon came up with some kind of inhouse store credit coin they could actually probably pull it off. The Tinglecoin. I think they'll do this, and it will work, because unlike Bitcoin they have an entire ecosystem of goods and services they can offer at a discount when you use their coin. You can buy almost anything on Amazon, so Amazon gift cards are really almost as good as money. All they'd have to do is throw you like 5-10% off when you use their coin and it's a no brainer. If you're an Amazon employee and they offered you a percent of your salary in the coin and you don't pay taxes on it or whatever, why wouldn't you do that? Save on taxes plus get discounts on things you were going to buy anyway. If you're an Amazon seller and they offer to pay you in their coin in exchange for subsidized seller fees, why wouldn't you do that? Increase your margins plus get discounts on things you were going to buy anyway. They'd basically be a bank at that point. It probably lets them circumvent taxes in some way that I'm not tax-smart enough to know about too And then we're the United States of Amazon.
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Dec 24, 2017 22:54
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paternity suitor posted:I think they'll do this, and it will work, because unlike Bitcoin they have an entire ecosystem of goods and services they can offer at a discount when you use their coin. You can buy almost anything on Amazon, so Amazon gift cards are really almost as good as money. All they'd have to do is throw you like 5-10% off when you use their coin and it's a no brainer. What is probably more plausible is that they would waive some fees of some kind if your transaction is done through their system, of whatever sort.
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Dec 24, 2017 23:03
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Burt Sexual posted:Did they do it? I’d think you’d know better than most here. Coinbase is like the biggest exchange in all of btc I thought. Today at least.
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Dec 24, 2017 23:31
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paternity suitor posted:I think they'll do this, and it will work, because unlike Bitcoin they have an entire ecosystem of goods and services they can offer at a discount when you use their coin. You can buy almost anything on Amazon, so Amazon gift cards are really almost as good as money. All they'd have to do is throw you like 5-10% off when you use their coin and it's a no brainer.
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Dec 24, 2017 23:32
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Uranium 235 posted:i don't think you can avoid taxes by getting paid in gift cards As soon as you turn it into goods or services its a taxable event the same as turning it into fiat currency.
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Dec 24, 2017 23:35
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I think the idea is that in some way Amazon could use this system to avoid taxes, not that you, J. Random Blowjob, would be able to do so.
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Dec 24, 2017 23:39
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Uranium 235 posted:lol what, i never said that Powershift posted:Here's a comprehensive list of large bitcoin companies that act as banks or trading platforms that have submitted to an external audit: Uranium 235 posted:lol look at you being wrong So I figured you thought at least one of the large bitcoin companies has submitted to an external audit. You keep saying Coinbase has to, but not that they actually have.
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Dec 24, 2017 23:51
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AreWeDrunkYet posted:Just wanted to throw it out there, consider putting your money in things that generate income.  early millennial spotted
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Dec 24, 2017 23:57
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If nobody can tell me what Ethereum does, by noon EST, tomorrow, December 25th, I'm going to declare that anyone putting money into ETH is a big dummy.
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Dec 24, 2017 23:59
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You can buy drugs online with it, just like all the others.
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Dec 25, 2017 00:03
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Jikes posted:You can buy drugs online with it, just like all the others.
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Dec 25, 2017 00:04
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XK posted:If nobody can tell me what Ethereum does, by noon EST, tomorrow, December 25th, I'm going to declare that anyone putting money into ETH is a big dummy. 
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Dec 25, 2017 00:04
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Uranium 235 posted:do you have amnesia I do. Is coinbase a public or private company?
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Dec 25, 2017 00:07
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XK posted:If nobody can tell me what Ethereum does, by noon EST, tomorrow, December 25th, I'm going to declare that anyone putting money into ETH is a big dummy. It's a crytpocurrency that you can run code on to make smart contracts but if you don't have enough of a fee(gas) attached to run all the code you lose everything, and also some people make it reference external libraries for their smart contracts, and some dude accidentally took control of one of those libraries and deleted it locking up everybody's money forever and also cryptokitties is on it and started causing delays for other, non-cryptokitty stuff on it. They had the DAO which was supposed to be a "decentralized autonomous organization" on it that some dude robbed, and half of the people using etherium wanted to fork it back to before the hack erasing like a week of transactions so they ended up forking into the pre-hack fork that kept calling itself ethereum, and the post-hack fork called ethereum classic. This should have been a massive wake-up call to everyone involved that if the people in power in this poo poo, the developers and miners, decide to gently caress you over to defend their own interests, there's not much you can do about it. TL;DR 
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Dec 25, 2017 00:10
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Ethereum is for distributed processing. What is it processing? What has it ever calculated that wasn't a programming loop hole that took magic tokens from one person and gave them to another? I literally want to know just one thing of any value that ETH has done, ever. The actual distributed processing functionality itself. Any thing.
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Dec 25, 2017 00:11
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Uranium 235 posted:lol what, i never said that What is a bit licence,? Who decides who gets one? Is someone regulating the trading of bitcoin with licences?
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Dec 25, 2017 00:11
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Powershift posted:It's a crytpocurrency that you can run code on to make smart contracts but if you don't have enough of a fee(gas) attached to run all the code you lose everything, and also some people make it reference external libraries for their smart contracts, and some dude accidentally took control of one of those libraries and deleted it locking up everybody's money forever and also cryptokitties is on it and started causing delays for other, non-cryptokitty stuff on it. Crypto kitties almost counts for my challenge, but not quite. Closest it's gotten, though.
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Dec 25, 2017 00:14
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Thinking about getting one of these credit cards. https://support.coinbase.com/customer/en/portal/articles/2228646-the-shift-card Any downsides? I just wish they had a rewards program.
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Dec 25, 2017 00:14
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From my understanding, etherium is distributing computing for idiots. In normal distributed computing, you have huge data sets or problems, so break it up into small chunks. Etherium, on the other hand, takes a single small program, and has everyone run it the exact same way to make sure everyone agrees on the outcome. So the entire network will always have the processing power of a late 90s cellphone, regardless of how many people are actually mining.
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Dec 25, 2017 00:19
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Burt Sexual posted:Thinking about getting one of these credit cards. I desperately want a debit account where I have no idea how much money I have from moment to moment. Daily ATM withdrawal limit of $200. Daily spending limit of $1,000. But I can choose to lower this limit to any amount below $1,000. This is my poo poo.
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Dec 25, 2017 00:23
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Why would anyone want that card. Really dumb.
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Dec 25, 2017 00:24
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Powershift posted:It's a crytpocurrency that you can run code on to make smart contracts but if you don't have enough of a fee(gas) attached to run all the code you lose everything, and also some people make it reference external libraries for their smart contracts, and some dude accidentally took control of one of those libraries and deleted it locking up everybody's money forever and also cryptokitties is on it and started causing delays for other, non-cryptokitty stuff on it. whoever said bitcoin is one weird trick to get libertarians to reinvent government had it right being able to change monetary policy, or numbers in a computer based ledger, or whatever, based on the consensus of actual human beings is a feature, not a bug like, that's our main power as sentient beings, it's not some kind of societal design flaw
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Dec 25, 2017 00:35
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Consensus is hard to achieve, though, and so you end up with messes like the BTC-Bitcoin Cash fork.
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Dec 25, 2017 00:36
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XK posted:Ethereum is for distributed processing. What is it processing? What has it ever calculated that wasn't a programming loop hole that took magic tokens from one person and gave them to another? I don't know the details of Ethereum, so here's instead how it works in Bitcoin. It should give you an idea why somebody sufficiently autistic might find it a good idea. Bitcoin doesn't have most of what you think of when thinking of bitcoin. It doesn't even have butts. Addresses and wallets are not part of Bitcoin. Instead, there's only transactions. Transactions transfer funbux from "inputs" to "outputs." You can think of it as if A wants to transfer 20 funbux to B, they use their own wallet as input and transfer the money to two outputs: 20 goes to B and all the rest goes back to A. As mentioned, this is an over-simplification. Inputs are not wallets or addresses, but instead little programs. The most common program is called P2PKH (pay to public key hash). In order to transfer some funbux to somebody else, you write a small program that returns 1 if they other user is allowed to spend the money and 0 otherwise. This program is constructed so this is difficult. That's where the crypto part comes in. A Bitcoin transaction output is literally such a program, called a pubkey script. A Bitcoin input is another program which tries to satisfy the output program. This is called the signature script. If you hate yourself, you can view the standard templates for this at https://bitcoin.org/en/developer-guide#p2pkh-script-validation Now, aside from using the standard P2PKH script, you can also use other scripts. For example, you can use a script that requires two out of three signatures. That way, no single person can spend the funbux on their own: it requires the cooperation of at least two out of three. This would for example be useful when Bitcoin becomes the preferred way of payment for real companies (LOL!), where at least part of the management need to sign for spending money. Or exchanges could use it so no single person can steal all the butts, but there's no reason anybody would want that. It is in principle possible to put in any program. Also in Bitcoin (they just disabled it because it's a big loving security risk). This is a smart contract. You can in principle make up the exact rules for when money can be spent. For example, you can implement escrow by requiring two out of two signatures. Or a more fancy contract taking time into account (can be transferred with 2 signatures now or with just one in a year, similar to what is needed for lightening). So, you can in principle put any regular contract as we know it today into a pubkey script and have the money be available transferred in the right conditions. The problem is that only a super-autist believes that 1) they can code the contract without errors, 2) they can code the contract so it takes every case into account, and 3) anybody would want this in reality ever. Fact is, contracts are typically ambiguous and that's a good thing - you can focus on what's important and discuss the details if it ever becomes essential. What you know as a Bitcoin address is an encoded version of a hashed version of the public key of the public/private keypair used to sign transactions. This is enough to create the pubkey script for P2PKH transactions. A wallet is a program that generates the standard transactions for you and keeps track of which transaction outputs have not been spent. TL;DR: there is no real usage scenario. klafbang fucked around with this message at 00:58 on Dec 25, 2017 |
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Dec 25, 2017 00:51
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Jikes posted:Consensus is hard to achieve, though, and so you end up with messes like the BTC-Bitcoin Cash fork. That's why Bitcoin Gold is the currency of the future.
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Dec 25, 2017 00:53
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XK posted:
You're getting mad, online.
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Dec 25, 2017 00:55
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Salt Fish posted:You're getting mad, online. Nah. I just think ETH has somehow managed to be even more stupid and worthless than bitcoin, and it makes me lol.
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Dec 25, 2017 01:05
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vortmax posted:So I figured you thought at least one of the large bitcoin companies has submitted to an external audit. You keep saying Coinbase has to, but not that they actually have. i trust them to enforce that condition but i can't prove they do gemini has been licensed for longer than a year iirc, while coinbase has been for 11 months. if there's a way to get proof then it's probably easier for gemini, but i'm not going to do it
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Dec 25, 2017 01:23
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