spaceships posted:

has anyone killed themselves or someone else over bitcoins yet

spaceships posted:

has anyone killed themselves or someone else over bitcoins yet

Uranium 235 posted:

probably

Fame Douglas posted:

So, which lovely Altcoin are you currently trying to pump up? Do you still believe Cardano is going to go up uP UP?

lazorexplosion posted:

lazorexplosion posted:

Bitcoin is saved

Japan has a new cryptocurrency-themed girl band

quote:

Virtual Currency Girls held a press conference on January 27 to discuss the theft of 58 billion Yen (500 million USD) from the Japanese cryptocurrency exchange Coincheck.

Earlier this week, Coincheck halted most trading on its exchanges, and withdraws in both cryptocurrency and Yen had been suspended completely. This came as a result of the cryptocurrency theft.

The group, which is paid in cryptocurrency, uses Coincheck to for its activities. Its members were supposed to be paid 2 million Yen (18,400 USD), but was unable to get receive their salary due to the cryptocurrency theft.

The group's agency offered to pay its members in Yen while Coincheck suspended its activities. The members decided against being paid in Yen, stating that it had pride in its position on cryptocurrency, and would only accept cryptocurrency as originally intended.

Despite the theft and the service's disruption, Virtual Currency Girls continues to express excitement over the future of cryptocurrency. It also advocated for the continued use of cryptocurrencies, included the coins that had been stolen this past week.

Coincheck's suspension of services will not stop Virtual Currency Girls' activities, despite being unable to receive payments from fans. The group announced that it will hold a free live in Tokyo on February 16 for Coincheck users.

lazorexplosion posted:

junan_paalla posted:

lmao

paternity suitor posted:

I'm dead, I'm dying

ymgve posted:

totally unrelated, but the economics thing is actually a "nobel", including the quotes. Its full title is "Swedish National Bank's Prize in Economic Sciences in Memory of Alfred Nobel" which says pretty much everything about the legitimacy of the prize compared to real Nobel prizes and the criteria for getting one

quote:

In 1968, Sveriges Riksbank (Swedish National Bank) celebrated its 300th anniversary by donating a large sum of money to the Nobel Foundation to be used to set up a prize in honour of Nobel.

Inept posted:

. Maybe there's some other political bullshit tied to that money that makes the prize less legitimate? idk

Moxxis Endowment posted:

Yeah there is, and that political bullshit is called economics.

Uranium 235 posted:

noteworthy: the prices on coinbase/gdax have been several % lower than the prices on bitfinex for the last 3 days.

Hot Dog Day #91 posted:

Just so I'm clear, because like Warren Buffet, I don't understand economics:

1. Bitcoin is really slow and expensive to use for actual transactions (but fine for drugs and illegal stuff);
2. The real value in bitcoin is that people keep buying and selling it, which drives the price higher and higher;
3. People who got in early can cash out for a profit;
4. That profit is gained solely on the backs of people buying late, at a higher price;
5. The only way for the people who bit late to profit is for additional people to buy even later, driving up the price more.


So the only way to profit off bitcoin is necessarily for others to lose money, essentially gambling right? But unlike most gambling, some of late-buyers think they're investing in an asset rather than actually gambling.

It's immoral right? What am I missing gbs?

Hot Dog Day #91 posted:

It's immoral right? What am I missing gbs?

Hot Dog Day #91 posted:

Just so I'm clear, because like Warren Buffet, I don't understand economics:

1. Bitcoin is really slow and expensive to use for actual transactions (but fine for drugs and illegal stuff);
2. The real value in bitcoin is that people keep buying and selling it, which drives the price higher and higher;
3. People who got in early can cash out for a profit;
4. That profit is gained solely on the backs of people buying late, at a higher price;
5. The only way for the people who bit late to profit is for additional people to buy even later, driving up the price more.


So the only way to profit off bitcoin is necessarily for others to lose money, essentially gambling right? But unlike most gambling, some of late-buyers think they're investing in an asset rather than actually gambling.

It's immoral right? What am I missing gbs?

Hot Dog Day #91 posted:

Just so I'm clear, because like Warren Buffet, I don't understand economics:

1. Bitcoin is really slow and expensive to use for actual transactions (but fine for drugs and illegal stuff);
2. The real value in bitcoin is that people keep buying and selling it, which drives the price higher and higher;
3. People who got in early can cash out for a profit;
4. That profit is gained solely on the backs of people buying late, at a higher price;
5. The only way for the people who bit late to profit is for additional people to buy even later, driving up the price more.


So the only way to profit off bitcoin is necessarily for others to lose money, essentially gambling right? But unlike most gambling, some of late-buyers think they're investing in an asset rather than actually gambling.

It's immoral right? What am I missing gbs?

Hot Dog Day #91 posted:

Just so I'm clear, because like Warren Buffet, I don't understand economics:

1. Bitcoin is really slow and expensive to use for actual transactions (but fine for drugs and illegal stuff);
2. The real value in bitcoin is that people keep buying and selling it, which drives the price higher and higher;
3. People who got in early can cash out for a profit;
4. That profit is gained solely on the backs of people buying late, at a higher price;
5. The only way for the people who bit late to profit is for additional people to buy even later, driving up the price more.


So the only way to profit off bitcoin is necessarily for others to lose money, essentially gambling right? But unlike most gambling, some of late-buyers think they're investing in an asset rather than actually gambling.

It's immoral right? What am I missing gbs?

Hot Dog Day #91 posted:

I'm glad that I perfectly understand bitcoin and have refused to buy in at any point. Even if I could have made a profit, I don't want to take advantage of others.

My Linux Rig posted:

Living as a human in a capitalist world necessitates taking advantage of others

My Linux Rig posted:

Living as a human in a capitalist world necessitates taking advantage of others

Hot Dog Day #91 posted:

It's immoral right? What am I missing gbs?

My Linux Rig posted:

Living as a human in a capitalist world necessitates taking advantage of others

Misc posted:

living in capitalism does not give you a fatalist free license to act like a monster

Misc posted:

living in capitalism does not give you a fatalist free license to act like a monster

My Linux Rig posted:

Yeah it does