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At the peak you could buy nifty looking physical bitcoins for a couple of bucks. I was sorely tempted to get a couple and offer them for sale at say, 90% of then current price. But then I realized I wasn't a poo poo human being.
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Dec 9, 2018 05:23
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Harveygod posted:Ghostty will always be my favorite for making this post. Paladinus posted:I just couldn't pass the opportunity.
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Dec 9, 2018 05:28
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Waltzing Along posted:He deserves it for wearing that hat. Not because of the bitcoin logo, though that is part of it. Not because the hat is too big for his small head. But because of the awful flat brim which shows he is completely retarded. His aesthetic is perfect.
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Dec 9, 2018 05:38
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MrUnderbridge posted:At the peak you could buy nifty looking physical bitcoins for a couple of bucks. The hardest part of get rich quick schemes is realizing you have to be a spineless turd with no conscience to execute them.
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Dec 9, 2018 05:51
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Ripoff posted:If there was a way to prove that the mined coins to date are still accessible by their owners (regardless of how they were gained), I’d wager a bet that it’d be about 20% of the coins out there, max. Weren’t more than half of the coins mined to date done so in the first like 3 weeks the network was up regardless, and the first person to mine (all hail Satoshi) literally has like 25% of the loving coins in existence? Yeah, there is a stash of 980,000 butts that are assumed to be Satoshi's that have never moved.
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Dec 9, 2018 07:25
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The White Dragon posted:you can't think of it from this perspective. you have to think about it like this: Yeah I know and even said I would have lost all my shitcoins but holy poo poo with hindsight there was a lot of money to be made
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Dec 9, 2018 08:26
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Liquid Communism posted:Yeah, there is a stash of 980,000 butts that are assumed to be Satoshi's that have never moved. Satoshi is a consortium of electric companies imo, and they are loving genius
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Dec 9, 2018 08:27
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Waltzing Along posted:Remember when Ham Sandwiches would post? Then it was Ghosty. Now it's I'm a stupid linux user. He'll go away and then someone new will show up to pwn us all with his hot takes and vaguely credible claims about cashing out and making mad stacks. MyLinuxRig is actually dead. He lost all his bitcoins in Mt. Gox, thought of it and died.
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Dec 9, 2018 11:43
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Please help keep bitcoin ghost safe 
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Dec 9, 2018 12:30
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My linux rig posts in many other threads, yall just run him off
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Dec 9, 2018 12:44
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McGiggins posted:My linux rig posts in many other threads, yall just run him off A: Because any ghost fears to exorcise
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Dec 9, 2018 13:37
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True believers only post when the price has been going up for a while, not when it's tumbling.
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Dec 9, 2018 13:42
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Wasn't it hard to actually exchange a bitcoin for the ten grand they were trading for?
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Dec 9, 2018 13:47
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let it mellow posted:Not gonna lie, I read the bitcoin thread when some dude paid like 10k bitcoins for some other dude to buy him a dominos pizza. I could’ve got loaded on idiots but I thought it was too stupid to succeed. Hey since you're time-travelling to 2009, can you tell the me from the past to invest all they have in Netflix, and sell in Jun 2018? I will have made 100x my investment without any of the Bitcoin risks. Thanks
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Dec 9, 2018 14:06
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Lol, this post was less than a month ago and Bitcoin has lost half its value since then
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Dec 9, 2018 14:57
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https://www.blockchain.com/en/charts/hash-rate?timespan=all 
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Dec 9, 2018 15:35
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How much per bushel of Bitcorn?
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Dec 9, 2018 15:41
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Lambert posted:How much per bushel of Bitcorn?
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Dec 9, 2018 15:42
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Star Man posted:Wasn't it hard to actually exchange a bitcoin for the ten grand they were trading for? Depends on your definition of hard. If you think providing scans of all your ID and waiting up to two weeks to be approved, then waiting however long the exchange feels like dicking you around to get your filthy FIAT out is hard, then yeah.
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Dec 9, 2018 15:43
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Star Man posted:Wasn't it hard to actually exchange a bitcoin for the ten grand they were trading for? it's been many years since it was hard to cash out $10k worth of bitcoins (unless you need to hide them from the government) TVsVeryOwn posted:Depends on your definition of hard. If you think providing scans of all your ID and waiting up to two weeks to be approved, then waiting however long the exchange feels like dicking you around to get your filthy FIAT out is hard, then yeah. it's literally as hard as linking a bank account to paypal and cashing out ebay earnings
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Dec 9, 2018 15:43
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Lambert posted:How much per bushel of Bitcorn? I'm afraid the price has fallen so much they're leaving the bitcoins to rot in the field.
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Dec 9, 2018 15:46
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for a long while the most efficient miner was the antminer s9 which provides 14.5 TH/s and is currently selling for $350 (naturally it sold for a lot more back when it purported to print money) That's over $700 million actual dollars of hardware that just turned into scrap.
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Dec 9, 2018 15:47
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Could BTC miners be repurposed to break MD5 for more nefarious purposes? Maybe you could trick them into breaking password hashes with a fake blockchain. There's big money in that
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Dec 9, 2018 15:51
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ikanreed posted:Lol, this post was less than a month ago and Bitcoin has lost half its value since then Yeah but in 10 years bitcoin will be worth 500,000+% You absolute moron You financial buffoon
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Dec 9, 2018 15:54
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poverty goat posted:Could BTC miners be repurposed to break MD5 for more nefarious purposes? Maybe you could trick them into breaking password hashes with a fake blockchain. There's big money in that It's cheaper and more ecologically conscious to do that by breaking someone's knee with a crowbar.
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Dec 9, 2018 15:55
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McSpanky posted:The hardest part of get rich quick schemes is realizing you have to be a spineless turd with no conscience to execute them.
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Dec 9, 2018 16:00
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Paladinus posted:It's cheaper and more ecologically conscious to do that by breaking someone's knee with a crowbar. Not if your parents pay for the electricity
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Dec 9, 2018 16:04
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poverty goat posted:Could BTC miners be repurposed to break MD5 for more nefarious purposes? Maybe you could trick them into breaking password hashes with a fake blockchain. There's big money in that Nope, that's the wonderful thing about asics. Their only function is performing the specific hashing operation used by bitcoin and its clones and nothing else.
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Dec 9, 2018 16:13
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fisting by many posted:Nope, that's the wonderful thing about asics. Their only function is performing the specific hashing operation used by bitcoin and its clones and nothing else. which is MD5 right? e: I mean SHA-256. I mixed my hash functions up but this is not a thing that's unique to bitcoin and I'm sure there are lucrative opportunities to undermine someone's security with a SHA-256 cracking supercomputer poverty goat fucked around with this message at 16:17 on Dec 9, 2018 |
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Dec 9, 2018 16:14
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poverty goat posted:which is MD5 right? SHA256
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Dec 9, 2018 16:16
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Even if you took all the hashing power in the world, and set it to the task of producing a single collision, it wouldn't happen in any reasonable timeframe. If SHA-256 gets broken, it'll be by some new mathematics that makes it easier than brute-force by some huge factor, turning it into an easier problem that can be brute-forced. It's unlikely that mining asics would be useful for solving that easier problem though.
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Dec 9, 2018 16:41
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poverty goat posted:it's been many years since it was hard to cash out $10k worth of bitcoins (unless you need to hide them from the government) this turns out to be false (that was a year ago, it's even harder now)
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Dec 9, 2018 16:45
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So if the price stay about the same and people continue to unplug their miners, will the network will just stay on a standstill and there will be no transaction(or almost none) possible, even trough the exchanges?
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Dec 9, 2018 17:20
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Bleusilences posted:So if the price stay about the same and people continue to unplug their miners, will the network will just stay on a standstill and there will be no transaction(or almost none) possible, even trough the exchanges? Nah, not really. Exchanges don’t depend on the blockchain, so you do all transactions there without issues. If hashing rate goes down, transaction time will go up, but bitcoin adjusts difficulty every two weeks (really every 2016 blocks), so after a while “speed” will be back where it were. According to https://bitcoinwisdom.com/bitcoin/difficulty difficulty went down from around 53000 to just over 40000 already. The “frisbee on the roof” scenario requires that an extreme number of mining capacity leaves simultaneously.
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Dec 9, 2018 17:26
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poverty goat posted:Could BTC miners be repurposed to break MD5 for more nefarious purposes? Maybe you could trick them into breaking password hashes with a fake blockchain. There's big money in that
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Dec 9, 2018 19:33
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lmao this nerd-lord on cnn is talking about how china is basically cash-less with everyone paying for everything using mobile phones, allowing direct person to person transfers for any amount for almost zero fees even their homeless people have QR codes to scan to give them money because no one has change when america's financial system manages to crawl out of the third world all this bitcoin poo poo is going to lose even its most argued use-case
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Dec 9, 2018 19:36
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China is absolutely not a cashless society, because all of the tons of illegal poo poo is done that way for obvious reasons. That said Ali-pay and its ilk is everything bitcoiners wanted bitcoin to be but you know, fiat currency. The US lacks ali-pay everywhere because that system requires a shitload of unbanked people and no intermediary steps like the US has from cash to pure scan and pay.
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Dec 9, 2018 19:37
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most of the hold-ups on improving america's financials were due to credit card company lobbying, I remember
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Dec 9, 2018 19:42
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Ad by Khad posted:most of the hold-ups on improving america's financials were due to credit card company lobbying, I remember Yeah, no intermediary steps. China basically skipped checks and credit cards and went straight to digital pay.
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Dec 9, 2018 19:44
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Ad by Khad posted:when america's financial system manages to crawl out of the third world all this bitcoin poo poo is going to lose even its most argued use-case The bitcoin use case is the ability to do this without every dime you give to a bum being supervised by bankers and law enforcement so I'm not sure the chinese model is quite the death blow you're imagining
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Dec 9, 2018 19:51
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