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ilmucche posted:Isn't this a bad thing for stability though? Again, serious posting. If there's a disagreement about the blockchain and a fork happens then suddenly there's two currencies fighting for space, who accepts what at that point? If people accept both doesn't that lead to immediate inflation because there's now 2x currency in the market?
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Dec 15, 2020 06:49
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Cryptologist posted:The better money will always wash out the inferior protocol. Yes, that's why nobody gives a poo poo about crypto.
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Dec 15, 2020 06:56
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Cryptologist posted:Two types of forks are possible, hard and soft. Holders get coins on both so it doesn't matter to us which one prevails. The better money will always wash out the inferior protocol. But by selling off one of the forked coins haven't you left others holdings worthless investment? That seems less of a currency and more a stock.
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Dec 15, 2020 10:01
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It absolutely matters which one prevails, the fork occurred for a reason In the case of Bitcoin Cash, Roger gets to stew angrily that his attempt to make btc more of a currency blew up in his face and his forked pogs are an additional dimension of junk beyond the first. The "superior protocol" that won out was the one without the improvements to scale.
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Dec 15, 2020 13:12
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Key thing is all the absurd and janky poo poo about bitcoin is what bitcoiners like. The whole mining process that was literally 'use your fancy gaming rig to make funbux!' and then escalated into making significant contributions towards climate disaster, the unwieldy protocols, difficulty of actually doing anything with it- it makes them feel smart, like elite haxxors cresting the wave of the future.
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Dec 15, 2020 13:19
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There's certainly a group of cryptosporidium nerds who are deeply interested in the technobabble of smart contracts and hashrates and nonces, and this is kinda where bitcoin sprang from. Satoshi himself was of this group, someone trying to come up with weird new technology (that wasn't actually new, but ok). Then you have the darknet dweebs who don't give a gently caress about the technical mumbo jumbo, they just wanna buy drugs. Unfortunately this group also involves a lot of nonces. Seraph is more of a late-adopter who just wants to dig into exploitative capitalism and lord it over others. Crypto has plenty of that as well, nerds who feel powerless and latch onto bitcoin feeling like this is THE VEHICLE THAT TRANSFERS WEALTH TO THE DIGITAL GENERATION. They literally are what they complain about. lmao, barf
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Dec 15, 2020 13:29
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bitcorn
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Dec 15, 2020 13:30
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Call Your Grandma posted:bitcorn
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Dec 15, 2020 14:30
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Cryptologist posted:Two types of forks are possible, hard and soft. Holders get coins on both so it doesn't matter to us which one prevails. The better money will always wash out the inferior protocol. Cryptologist posted:I know in your mind this was some kind of sick burn, but in reality it just reveals how little you understand about Bitcoin. When a fork happens, anyone holding coins pre-fork will then have coins on BOTH forks, and can sell from whichever fork they want (or neither). I did this back when Bitcoin Cash forked off of Bitcoin, and made quite a hefty profit from doing so.
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Dec 15, 2020 14:44
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Splicer posted:??? There are bagholders that believe in and want Bitcoin Cash, so you can trade your Bitcoin Cash for Actual Bitcoin, and increase your own Bitcoin bag holding status
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Dec 15, 2020 17:21
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ymgve posted:There are bagholders that believe in and want Bitcoin Cash, so you can trade your Bitcoin Cash for Actual Bitcoin, and increase your own Bitcoin bag holding status Sounds inefficient. Just go take a picture of your check and in about 30 seconds and one “confirmation” you have dollars, useful outside of special circumstances no matter what you want to do with it. Still more private than a 4 billion Tb evidence list, and the dollars aren’t actually paper from trees. Even Monero is traceable and public if you aren’t consistently following rules all the time or make a small mistake. The FBI/TBI in Nashville doesn’t make mistakes, and the worst thing about digital cp (evidence-wise, I mean; cp is already bad all on its own) according to the investigators is missing the good feeling you get after trial burning that poo poo in a government incinerator. Cash in the amounts a normal darknet pervert handles for buying street dealer stock and quality is still mostly untraceable without it being a sting or process of regular law enforcement.
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Dec 15, 2020 17:51
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I note with some comedy that Seraph never explained what he paid five bucks to do with that "transfer"
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Dec 15, 2020 20:30
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Bronze Fonz posted:Yes, that's why nobody gives a poo poo about crypto. You know what the real problem is with crypto? If we actually get whole mainstream adoption, society is hosed. Libertarian fantasies on this basically end up with North Korea. You're going to end up with insane people like Seraph being so rich they don't know how to handle it and basically go from lotto winner to crack cocaine in a year. notwithoutmyanus fucked around with this message at 20:33 on Dec 15, 2020 |
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Dec 15, 2020 20:31
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I've just transferred a bunch of money from one bank account to another with no fee at all. Truly, we live in the future.
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Dec 15, 2020 20:33
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Paladinus posted:I've just transferred a bunch of money from one bank account to another with no fee at all. Truly, we live in the future. You fool, you could have done it the way that loses you money!
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Dec 15, 2020 20:35
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Seraph still hasn't told us about his taxes.
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Dec 15, 2020 20:37
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Shumagorath posted:doing to money what corn has done to poo
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Dec 15, 2020 20:40
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Paladinus posted:I've just transferred a bunch of money from one bank account to another with no fee at all. Truly, we live in the future. And faster than 15 minutes ! Also, as someone who has a crypto bot that is making a profit, I want to say that the taxes loving *kill*. I'm still making money so I pay, but holy poo poo is this more taxes than I've ever paid before in the last few years. So either Seraph is holding breath, or the IRS is going to make good friends with them quite soon. notwithoutmyanus fucked around with this message at 21:40 on Dec 15, 2020 |
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Dec 15, 2020 21:34
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Somfin posted:I note with some comedy that Seraph never explained what he paid five bucks to do with that "transfer" you know that guy in earthbound who charges you a transaction fee equal to the amount you withdraw? it's that but real life
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Dec 15, 2020 21:42
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This is good for bitcoin https://twitter.com/thedailybeast/status/1339008619451457536
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Dec 16, 2020 03:15
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Ad by Khad posted:There's certainly a group of cryptosporidium nerds who are deeply interested in the technobabble of smart contracts and hashrates and nonces, and this is kinda where bitcoin sprang from. Satoshi himself was of this group, someone trying to come up with weird new technology (that wasn't actually new, but ok). Crypto seems to come from the libertarian techno-Utopianism of the 90’s/early 2000’s, the idea that the internet could foster a self governing global community and the traditional nation-state would just wither away. In reality it’s just about the creation of new “value” out of thin air to the benefit of a privelged few. It’s parasitic to the real economy, and a thin coat of paint over deep class divisions and the neoliberal status-quo. Bitcoiners all dream of being on top, but in reality 99% of them are the exploited.
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Dec 16, 2020 03:41
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Serious question for the thread: In Anno Domine 2020 is there a way to turn bitcoins, or any coins i guess, in to actual USD (or CAD, GBP, etc) that doesnt involve a lot of work or shady companies?
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Dec 16, 2020 04:13
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Tnuctip posted:Serious question for the thread: In Anno Domine 2020 is there a way to turn bitcoins, or any coins i guess, in to actual USD (or CAD, GBP, etc) that doesnt involve a lot of work or shady companies?
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Dec 16, 2020 04:28
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Tnuctip posted:Serious question for the thread: In Anno Domine 2020 is there a way to turn bitcoins, or any coins i guess, in to actual USD (or CAD, GBP, etc) that doesnt involve a lot of work or shady companies? USD kinda yes, though a lot of us would argue that Coinbase and Gemini are in fact shady companies and the AML hoops you'll need to jump is a non-zero amount of work. Just don't tax evade. CAD would be much trickier, I recommend not using a Big Five bank account to do it with. Also don't tax evade.
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Dec 16, 2020 06:03
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Did Seraph's budget run out or is the current burst actually over
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Dec 16, 2020 09:07
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They're putting his video game garbage waifu in Smash, his mania is probably over in some gaming reddit rn or something
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Dec 16, 2020 09:23
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Were they revealing a new smash character recently? Who was it? Some goons were talking about it I think but didn't actually post who it was.
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Dec 16, 2020 09:30
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ilmucche posted:Were they revealing a new smash character recently? Who was it? Some goons were talking about it I think but didn't actually post who it was. Sephiroth
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Dec 16, 2020 09:57
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Tnuctip posted:Serious question for the thread: In Anno Domine 2020 is there a way to turn bitcoins, or any coins i guess, in to actual USD (or CAD, GBP, etc) that doesnt involve a lot of work or shady companies? Depends on how shady you think Coinbase is. Also depends on how shady Coinbase thinks you and your coins are.
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Dec 16, 2020 18:21
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ilmucche posted:Were they revealing a new smash character recently? Who was it? Some goons were talking about it I think but didn't actually post who it was. 
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Dec 16, 2020 18:43
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ymgve posted:Depends on how shady you think Coinbase is. Also depends on how shady Coinbase thinks you and your coins are. and how shady your bank thinks crypto is recalling Fauxton's stories of being a bank compliance officer and what an immediate red flag any crypto-related activity always, always turned out to be
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Dec 16, 2020 18:44
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https://www.barrons.com/articles/why-bitcoin-is-overpriced-by-more-than-50-51608120001 A decent article about buttcoins TL;dr is that butts are valued at least 50% over their fair market price, according to people who actually invest in things, and anyone who jumps in, has already missed the lift hill on the roller coaster, all that's left is the drop. You might ride your investment a little bit higher, maybe even to 30k from 20k, if it ever reaches 30k without collapsing, but you're going to miss the sell off point at the peak because it's going to happen all at once. There's no actual use case for butts, there's no widespread adoption, and nothing has changed between november and now to justify the spike.  This is not a meaningless graph, anyone who looks at this can realize that butts are in a bubble bigger than the ones in that Sir Mix-a-lot song. Also, the comments section is full of Gold 2.0 morons who are claiming buttcoin's infinite versatility and it being a store of value is why its price is at 20k, except nothing has changed between november and now besides tether printer go brrr, so they're high on their own farts. orange juche fucked around with this message at 19:31 on Dec 16, 2020 |
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Dec 16, 2020 19:21
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orange juche posted:This is not a meaningless graph, anyone who looks at this can realize that butts are in a bubble bigger than the ones in that Sir Mix-a-lot song. Also, the comments section is full of Gold 2.0 morons who are claiming buttcoin's infinite versatility and it being a store of value is why its price is at 20k, except nothing has changed between november and now besides tether printer go brrr, so they're high on their own farts. I mean, I think that the overall climb this year has had a lot to do with plenty of computer touchers having their personal income completely unaffected by COVID, but also having their spending go down because you can't go out to bars or go on vacations. So they just have extra money sitting around to burn, and why not throw in some on bitcoin? The 2017 peak was pretty close to this time of the year, so it'll be interesting to see if we have another case of "Chinese New Year withdrawls" come January. (Personally, I think it'll be a tiny bit later, once more people are vaccinated and you end up with a lot of people wanting cash to spend on the vacation they've been waiting for.)
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Dec 16, 2020 19:44
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orange juche posted:https://www.barrons.com/articles/why-bitcoin-is-overpriced-by-more-than-50-51608120001  that's adorable my dude. Let me clue you in on a little secret: Any analysis trying to claim Bitcoin has a particular "fair market price" is horseshit. Whether it claims Bitcoin is undervalued, overvalued - whatever, it doesn't matter. There is no "one true price" for the value of 1 btc, other than 1 btc. All of these analyses are cargo cult science.  Bitcoin is now in a period of price discovery, and will continue to be until there's no more non-bitcoin wealth left to absorb into the financial singularity. There is only one true "value" for Bitcoin, and that is:  In other news, JP Morgan Chase has changed it's tune about Bitcoin from 3 years ago: Then: quote:In 2017, the CEO of JPMorgan, Jamie Dimon called Bitcoin a fraud and warned to fire JPMorgan traders involved in Bitcoin trading. “I would fire BTC traders in a second, for two reasons: It is against our rules and they are stupid, and both are dangerous.” Now: quote:The Bank said that even 1% of asset allocation by large financial companies would result in $0.6 trillion BTC demand. https://www.financemagnates.com/cryptocurrency/news/jpmorgan-predicts-600-billion-bitcoin-demand/ Anyway, happy ATH everyone!  Couldn't have done it* without you, nocoiners! *laughed my way to the bank
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Dec 16, 2020 19:59
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Ad by Khad posted:Seraph is more of a late-adopter who just wants to dig into exploitative capitalism and lord it over others. Crypto has plenty of that as well, nerds who feel powerless and latch onto bitcoin feeling like this is THE VEHICLE THAT TRANSFERS WEALTH TO THE DIGITAL GENERATION. They literally are what they complain about. lmao, barf You really don't get it. You could buy bitcoin today and still be an early adopter. This is a marathon, not a sprint. (USER WAS PUT ON PROBATION FOR THIS POST) (USER WAS PERMABANNED FOR THIS POST) SocialValuationLOL fucked around with this message at 20:11 on Dec 16, 2020 |
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Dec 16, 2020 20:09
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IF there's no one true price for a buttcoin, when can I buy something other than russian research chemicals or illegal guns for bitcoin, directly, without going through exchanging it for FILTHY FIAT CURRENCY? till then, it has a true price, and the true price is much lower than the fart huffers claim. Also my dude if you weren't trading in bittscoin in 2001 you are behind the ball
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Dec 16, 2020 20:13
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SocialValuationLOL posted:Ahh yes, the 7-year Bitcoin holding social anarchist is a "late adopting capitalist looking to lord it over everyone". Big brain poo poo duderino. As much as Seraph's money helps pay the server bills, maybe it's time Jeffrey looked into actually blocking his credit card from being able to purchase forum accounts.
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Dec 16, 2020 20:13
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LanceHunter posted:As much as Seraph's money helps pay the server bills, maybe it's time Jeffrey looked into actually blocking his credit card from being able to purchase forum accounts.
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Dec 16, 2020 20:15
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"I'm socially anarchist, fiscally capitalist"
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Dec 16, 2020 20:17
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Swole Crotch Stain Ant posted:"I'm socially anarchist, fiscally capitalist" Sure, I'm enjoying the fruits of getting in on the ground floor - enjoying the final years of capitalism. Sue me.
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Dec 16, 2020 20:18
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