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Boxturret posted:ignore list going up uP UP!  Because ignoring my sage advice has served you so well for the past six years...
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Jan 11, 2021 18:15
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It actually did 
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Jan 11, 2021 18:24
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thanks to anti-following serah i haven't lost a single bitcoin to a scam or hack and my bank balance isn't affected at all by crashes thanks seraphim!
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Jan 11, 2021 18:31
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Also assuming it isn't yet another fabrication for attention because why would he suddenly be telling something truthful now and the fact he reappeared after the market corrected itself rather than before it will make for another crash course in learning that the IRS exists.
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Jan 11, 2021 18:36
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Boxturret posted:thanks to anti-following serah i haven't lost a single bitcoin to a scam or hack and my bank balance isn't affected at all by crashes I stand corrected. I am glad that Seraph and a smurf were able to get a check(s) from Coinbase over a 48 hour period. He doesn’t have to worry about structuring; that only applies to depositing/withdrawing just under $10,000 a day so as not to generate a report to the IRS. Why would someone structure in the first place? Here’s the kicker: Deposits and withdrawals OVER $10,000 automatically generates reports to the IRS, the DEA, the Treasury department, the FBI, the SEC, and the DHS. Sometimes a hunk of money from a single or multiple agencies triggers an automatic computer-led investigation during which all of your accounts are frozen until the sources and destinations are figured out by whatever federal force wants to take the lead on the investigation. By law they have to give you thirty day’s notice of intent. Most banks, however (especially national chain banks), will freeze the accounts as soon as the bank receives the notice. Its illegal as hell, but no lawyer will sue Bank of America or Chase over $100,000 or so because if the bank gets beat, they just unfreeze your account minus the custodial fees for holding your money. You’ll probably pull 80% back minus the 30-40% you owe your lawyer. The cops in Louisiana do this to laborers heading back to Mexico after earning a season’s earnings (cash that can’t be proven NOT drug or laundering in origin on the side of the Interstate 10) because you have 8 Latinos in a van with $15,000 a piece with no receipt so the law allowed them to seize it all into evidence until after trial. In two years. I happen to think this is a horrible overreach by the government. Since the 2000s, you can’t even hide your “anonymous” money because Switzerland bowed to the IRS after 9/11 and other money havens in the Caribbean and Europe did soon after. Sorry to ramble. It’s snowing outside of Memphis and the 45 year old Welding machine we use to keep the power going in an outage is out of diesel. I just wanted Seraph to know so he could plan for this if it comes to pass. Most US banks don’t want to deal with that poo poo and will just cancel your account if it involves Bitcoin.
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Jan 11, 2021 19:16
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Too bad they didn't pay them in bitcoin 
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Jan 11, 2021 19:28
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I was thinking recently that bitcoin is going to be more important now because of places not taking cash due to the pandemic
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Jan 11, 2021 19:29
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xtal posted:I was thinking recently that bitcoin is going to be more important now because of places not taking cash due to the pandemic oh wow another pandemic just started that also knocked out all of the dozens of electronic payment processors that everyone uses every day?
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Jan 11, 2021 19:31
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xtal posted:I was thinking recently that bitcoin is going to be more important now because of places not taking cash due to the pandemic Everyone has resumed taking cash in the US. Coin shortage seems to be over as well. Don't know about the rest of the world. Edit: At least my corner of the country. The US is a really big place. SYSV Fanfic fucked around with this message at 19:36 on Jan 11, 2021 |
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Jan 11, 2021 19:33
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xtal posted:I was thinking recently that bitcoin is going to be more important now because of places not taking cash due to the pandemic massive ever-expanding "lol" i wonder how all those countries, like the one i live in, have managed to be nearly cash-free for years now without butts
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Jan 11, 2021 19:35
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I watched a bunch of videos of the mess in DC. Didn't see any bitcoin flags, shirts, or logos. Guess the barrier of entry was too high for most of those people. I think this is good... for bitcoin.
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Jan 11, 2021 19:35
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SYSV Fanfic posted:I watched a bunch of videos of the mess in DC. Didn't see any bitcoin flags, shirts, or logos. Guess the barrier of entry was too high for most of those people. I think this is good... for bitcoin. let's check the charts Weatherman posted:buttcoin truth table: yep you`re right
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Jan 11, 2021 19:36
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i was thinking, as we enter the 11th month of plauge, is it possible that plauge could be good for bitcoin?
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Jan 11, 2021 19:37
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Updated the bubble index. 
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Jan 11, 2021 19:46
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Weatherman posted:massive ever-expanding "lol" By having a population that's used to surveillance?
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Jan 11, 2021 20:01
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xtal posted:By having a population that's used to surveillance? 
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Jan 11, 2021 20:05
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xtal posted:I was thinking no you weren't
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Jan 11, 2021 20:05
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xtal posted:By having a population that's used to surveillance? yeah they should use the public ledger which records all transactions forever instead
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Jan 11, 2021 20:07
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xtal posted:By having a population that's used to surveillance? You need to read divabots book "Attack of the 50 foot blockchain". Most of the hype around bitscoin, blockchain, and crypto currency falls apart with the smallest scrutiny.
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Jan 11, 2021 20:10
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SYSV Fanfic posted:You need to read divabots book "Attack of the 50 foot blockchain". Most of the hype around bitscoin, blockchain, and crypto currency falls apart with the smallest scrutiny. keep in mind you're telling this to the same person who shat this out as their first post itt: xtal posted:I unbookmarked this thread because it was just Seraph being deranged, but for what it's worth, divabot's blog is wrong too. I think this person has a foundational misunderstanding of cryptocurrency and its history and objectives because this has been a common problem.
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Jan 11, 2021 20:11
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It's become an avenue for speculative investment like gold more than anything else. Even for that purpose, tether has created a massive liquidity problem. When tether stops being printed, these swings are going to be even more intense.
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Jan 11, 2021 20:12
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Weatherman posted:massive ever-expanding "lol" e: dammit sysv
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Jan 11, 2021 20:13
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print the septillion tethers you cowards
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Jan 11, 2021 20:14
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Has the tether printer ran out of ink ?
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Jan 11, 2021 20:18
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1. Bitcoin isn't anonymous - it's psuedo-nonymous. As more institutions require your identity to do business you'll be relegated to either dealing with pedos, drug dealers, and people evading sanctions - or the existing financial system. If they identify someone you've exchanged coins with, they have avenues for identifying you. 2. Bitcoin will never function as digital cash. It was a proof of concept that the creator said in the white paper was a first draft. If a workable decentralized e-currency is implemented, it will not be on top of bitcoin. Bitcoins ultimate value as a currency is 0. 3. Bitcoin's price has artificially been propped up by Tether. It's possible that regulation of stable coins - which WILL happen - could destroy the price of bitcoin. 4. Bitcoin is centralized. A small number of people control most of the hash power. If they turned down/off their miners you wind up with a frisbee on the roof (you will not be able to conduct transactions for reasonable fees). Collusion or government seizure of equipment would allow the re-writing of the ledger at will (this is called a fork - read about what's happened in the past. There is no garauntee that the whales - big investors - will choose your side of the fork. Eth rewrote their chain when the DAO collapsed) 5. Bitcoin requires more suckers putting money in for anyone to take money out. It has no inherent value (like gold or silver). When too much money leaves the system, the electricity costs will cause the infrastructure to collapse. Xtal, if you put money in bitcoin for ideological reasons you've been scammed. Bitcoin and blockchain are not the avenues to your social reform and/or revolution. All it will ever be is a speculative investment that people will try to sell you on so they can take money out. If you're up cash out now and count yourself lucky. If you're down more than you can tolerate losing hold on to your coins and hope there is a next round of suckers. I dunno why I'm typing all this out. SYSV Fanfic fucked around with this message at 20:31 on Jan 11, 2021 |
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Jan 11, 2021 20:25
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driven underground by the mere thought that their patreon could get shut down the brave anarchists turned to the easily traceable and public blockchain to fund their activities
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Jan 11, 2021 20:28
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DerekSmartymans posted:I stand corrected. I am glad that Seraph and a smurf were able to get a check(s) from Coinbase over a 48 hour period. i know about the $10k line, I could have sworn there was something else that kicked in at $100k but i can't seem to find anything so i guess i was misremembering
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Jan 11, 2021 20:34
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In the US the AM radio stations all sell gold as an "investment" or a "hedge against collapse of currency". They say it will protect you against the "federal reserve stealing your money through inflation". They never provide concrete reasons these things are true other than your own imagination. They use a US libertarian narrative to get people that otherwise wouldn't buy gold to buy gold. They use the ideologically driven people to raise the price so they can take profit. Sometimes they involve complex schemes and they collapse - read about the liberty reserve. Unlike gold - bitcoin has no potential floor. People will always want gold for jewelry making, electronics, chemistry, and it's other physical properties. Any similar claims about bitcoin are bunk. If the ecosystem collapses all you have are some cryptographic keys and an extremely large file of transactions.
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Jan 11, 2021 20:39
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and that's before you consider the fact that bitcoin is a gigantic waste of energy. storing your poo poo in gold takes basically zero energy, processing your transaction for a single coffee on the blockchain takes basically the entire energy usage of a small country
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Jan 11, 2021 20:43
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bitcoin is so irreplaceable that's why there are 8000 alternative and competing shitcoins out there
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Jan 11, 2021 20:45
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people love bitcoin for it's wide range of industrial applications
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Jan 11, 2021 20:47
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xtal posted:I was thinking recently that bitcoin is going to be more important now because of places not taking cash due to the pandemic lol my job is making what's basically cash register software. we've gotten lots of requests for (and have implemented) contact-free transactions, tap to pay, that sort of thing. here's the current list of our many customers, large and small, new and old, that have so much as mentioned any kind of crypto integration:
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Jan 11, 2021 20:47
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Shame Boy posted:lol my job is making what's basically cash register software. your pos os is a pos
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Jan 11, 2021 20:50
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Shame Boy posted:lol my job is making what's basically cash register software. we've gotten lots of requests for (and have implemented) contact-free transactions, tap to pay, that sort of thing. here's the current list of our many customers, large and small, new and old, that have so much as mentioned any kind of crypto integration: ypospos
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Jan 11, 2021 20:50
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You can't send a dollar over the internet. Where you going to put it? Your CD-ROM drive?
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Jan 11, 2021 20:54
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Shame Boy posted:lol my job is making what's basically surveillance software. That might be why you think this way. Using bitcoin instead of credit cards is a form of consumer protection.
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Jan 11, 2021 20:55
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SYSV Fanfic posted:4. Bitcoin is centralized. A small number of people control most of the hash power. If they turned down/off their miners you wind up with a frisbee on the roof (you will not be able to conduct transactions for reasonable fees).
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Jan 11, 2021 20:55
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The current price of bitcoin has two reasons - since march people receiving pandemic assistance have been using it to buy bitcoin in a colusional fashion. Whenever the price starts to drop, tether is used to shore it up so people keep putting money in. The last spike in price from 30k to 40k coincided with the US government direct depositing $600 in almost everyone's account. No one wants to admit the problem with tether and other stable coins. The entire crypto-economy has come to depend on it. It gives the bitcoin billionaires a tool to manipulate the exchange price and take profit in dollars as necessary. Crypto as a whole will be regulated. Eventually the money laundering/sanctions evaders will be squeezed out and go back to hard assets like diamonds or US $100 bills. When stable coins are regulated, exchanges will no longer be able to manipulate the price upwards. At that point the markets will discover the "true" value of bitcoin. Since you have to use fiat to purchase anything with bitcoin that value will be the amount of fiat in the system. Trusting that there is actually $600 billion dollars in a system as poorly regulated and accounted for is a HUGE risk. It's feasible you could walk away with a lot of money if you play this as a capitalist investor. If you're holding because it will overthrow and replace the existing financial system - you are a sucker getting conned by sharks who know they are using you.
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Jan 11, 2021 20:56
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xtal posted:I don't think hmm I see that explains a lot
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Jan 11, 2021 20:59
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xtal posted:That might be why you think this way lmao i knew you were gonna ignore everything else and call me a fascist, i was very excited to see exactly how. this is kinda a disappointing take tbh, you can do better. call them "capital class-owned money extraction machines" or something, c'mon!
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Jan 11, 2021 21:00
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