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Qwertycoatl
Dec 31, 2008

Shame Boy posted:

my favorite variant of that was when they'd nag a store into accepting bitcoin with the promise that everyone on bitcointalk would flood them with orders, then literally nobody would use it so a year later they'd stop accepting it, at which point the bitcoiners would somehow find out and be outraged and declare that they would forever boycott the store or w/e

my favourite variant was the store which did accept bitcoin, and on an average month got zero people paying with bitcoin and three people telling them that they'd have bought something if they accepted bitcoin

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KnifeWrench
May 25, 2007

Practical and safe.

Bleak Gremlin

Qwertycoatl posted:

my favourite variant was the store which did accept bitcoin, and on an average month got zero people paying with bitcoin and three people telling them that they'd have bought something if they accepted bitcoin

lmao I missed this one. that's perfect

kw0134
Apr 19, 2003

I buy feet pics🍆

the wikipedia organization did A/B comparison tests and got fewer donations when the buttcoin link was up.

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

kw0134 posted:

the wikipedia organization did A/B comparison tests and got fewer donations when the buttcoin link was up.

didn't some porn site do that too?

DerekSmartymans
Feb 14, 2005

The
Copacetic
Ascetic
Normal, not-online folks see the signs and portents about crypto. Anything promising “sick-gains” are not only scams, but gambling scams. Those are even worse and could lead to ruin. The house always wins, except the “House” is a scummy mix of sharks and exchanges. I have trouble with my eyes from 16 years of mental meds, and sometimes misdial folks and businesses because with no contacts in it’s all blurry. Imagine my dumb rear end losing a few bits because I can’t tell a “b” from a “k!”. That is not the only thing that can happen, either.

Maybe I’ll never hit the lottery. But I’ll never fat-finger my mortgage or food/gas/beer money into a black hole with no recourse. Or forget my password/lose my key to my safety deposit box, either. Its enough for me.

Shame Boy
Mar 2, 2010

DerekSmartymans posted:

Normal, not-online folks see the signs and portents about crypto. Anything promising "sick-gains" are not only scams, but gambling scams. Those are even worse and could lead to ruin. The house always wins, except the "House" is a scummy mix of sharks and exchanges. I have trouble with my eyes from 16 years of mental meds, and sometimes misdial folks and businesses because with no contacts in it's all blurry. Imagine my dumb rear end losing a few bits because I can't tell a "b" from a "k!". That is not the only thing that can happen, either.

Maybe I'll never hit the lottery. But I'll never fat-finger my mortgage or food/gas/beer money into a black hole with no recourse. Or forget my password/lose my key to my safety deposit box, either. Its enough for me.

i will give bitcoin at least some credit in that they did think far enough ahead to include a check digit mechanism in bitcoin addresses to prevent most cases of mistyping one character

i will now take away that credit by pointing out that bitcoin addresses are enormous nonsense strings that all look exactly the same so are very easy to mix up in a copy/paste or QR code scan or whatever, and you don't know you hosed up until the money's already gone with no recourse

Shame Boy
Mar 2, 2010

i have a good idea what the digits of my few credit/debit cards and my bank account numbers look like even if i don't have them memorized

like can you tell if this is or isn't your account?

Shame Boy
Mar 2, 2010

i got that from here btw:

https://bitcoin.stackexchange.com/questions/88553/is-btcfrog-bitcoin-qr-code-generator-hacked

that's literally the first GIS result for "bitcoin address QR code", too :allears:

quote:

When this QR code is scanned with any wallet of your choice the receiving address switches to something else! The address is clearly owned by someone and has several transactions.

Is it hacked or I'm doing something seriously wrong?

yes and yes

DerekSmartymans
Feb 14, 2005

The
Copacetic
Ascetic

Shame Boy posted:

i will give bitcoin at least some credit in that they did think far enough ahead to include a check digit mechanism in bitcoin addresses to prevent most cases of mistyping one character

i will now take away that credit by pointing out that bitcoin addresses are enormous nonsense strings that all look exactly the same so are very easy to mix up in a copy/paste or QR code scan or whatever, and you don't know you hosed up until the money's already gone with no recourse

Yeah, I know. But sometimes I have my SA pw generated when I forget it and go through the process because the one they sent is a great random digit/letter combo. Only time I need it is if I’m on my desktop and Opera holds it for me. but trying to enter 13-15 characters with no capitalized or double-typed errors on my phone keyboard. My eyes are really bad, and if I can’t figure out o O 0 1 l I would hate to lose my life savings 🤪!

Midjack
Dec 24, 2007



DerekSmartymans posted:

My eyes are really bad, and if I can’t figure out o O 0 1 l I would hate to lose my life savings 🤪!

that’s why you send a small test transaction first, come on man.

DerekSmartymans
Feb 14, 2005

The
Copacetic
Ascetic

Midjack posted:

that’s why you send a small test transaction first, come on man.

Two chances to lose everything? Seems legit!

Grace Baiting
Jul 20, 2012

Audi famam illius;
Cucurrit quaeque
Tetigit destruens.



Shame Boy posted:

i have a good idea what the digits of my few credit/debit cards and my bank account numbers look like even if i don't have them memorized

like can you tell if this is or isn't your account?



that qr code does not correspond to any account of mine

checkmate statist

FuckOffTransphobe
Feb 21, 2021

by Fluffdaddy

DerekSmartymans posted:

Yeah, I know. But sometimes I have my SA pw generated when I forget it and go through the process because the one they sent is a great random digit/letter combo. Only time I need it is if I’m on my desktop and Opera holds it for me. but trying to enter 13-15 characters with no capitalized or double-typed errors on my phone keyboard. My eyes are really bad, and if I can’t figure out o O 0 1 l I would hate to lose my life savings 🤪!
It sounds like the digital wild west of *checks notes* using a custodial service such as a bitcoin bank isn't for you. Maybe stick to being poor and also a repugnant transphobe.

P.S.

Base58 encoding used in all Bitcoin addresses and private keys excludes 0, O, l and I for exactly this reason. If there's something that looks like a 1, you can be assured it is actually a 1.

Shame Boy
Mar 2, 2010

this is not an endorsement of seraph. DerekSmartymans should def apologize for the gross post before and prolly think real hard about stuff

Shame Boy
Mar 2, 2010

anyway i tried to call my local bitcoin be your own bank to open an account but my phone just called itself and exploded from recursive feedback help

wynott dunn
Aug 9, 2006

What is to be done?

Who or what can challenge, and stand a chance at beating, the corporate juggernauts dominating the world?

Shame Boy posted:

anyway i tried to call my local bitcoin be your own bank to open an account but my phone just called itself and exploded from recursive feedback help

that’s a feature not a flaw

Chris Knight
Jun 5, 2002

me @ ur posts


Fun Shoe

DerekSmartymans posted:

Yeah, I know. But sometimes I have my SA pw generated when I forget it and go through the process because the one they sent is a great random digit/letter combo. Only time I need it is if I’m on my desktop and Opera holds it for me. but trying to enter 13-15 characters with no capitalized or double-typed errors on my phone keyboard. My eyes are really bad, and if I can’t figure out o O 0 1 l I would hate to lose my life savings 🤪!
1Password solves this by using a Courier-like fixed width font where are the characters are pretty distinct, as well as offering a "view large characters" option. also numbers and letters are different colours

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish
this is why you make all your passwords ilovesatoshi

Grace Baiting
Jul 20, 2012

Audi famam illius;
Cucurrit quaeque
Tetigit destruens.



Shame Boy posted:

this is not an endorsement of seraph. DerekSmartymans should def apologize for the gross post before and prolly think real hard about stuff

agreed on all counts:
• seraph can gently caress off and not try to white knight for trans ppl with one of his uncountably many usernames.
• i (among others) would very much appreciate it if DerekSmartymans apologized for his comments earlier.

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish
as an anarchist i can not understand how you can agree with one thing someone says but not every single thing they've ever done

LordSaturn
Aug 12, 2007

sadly unfunny

Shame Boy posted:

this is not an endorsement of seraph. DerekSmartymans should def apologize for the gross post before and prolly think real hard about stuff

SYSV Fanfic
Sep 9, 2003

by Pragmatica
Dereksmartymans can apologize for his crippling mental disability if he wants to, but that's a hosed up thing to demand from someone.

xtal
Jan 9, 2011

by Fluffdaddy
Lol.

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
tether needs to implode already so we can have something to laff about

yeah i know, the market can remain unfunny longer than you can remain witty, but still

junan_paalla
Dec 29, 2009

Seriously, do drugs
im just here coping with not trading my life savings for distributed ledger entries. if only i had them entries instead of usable money, i feel so poor

DerekSmartymans
Feb 14, 2005

The
Copacetic
Ascetic

SYSV Fanfic posted:

Dereksmartymans can apologize for his crippling mental disability if he wants to, but that's a hosed up thing to demand from someone.

I’m not sure I...I’m, what? Did I miss something?

Fame Douglas
Nov 20, 2013

by Fluffdaddy
Wouldn't Tether imploding push up the price of Bitcorn even more? With everyone panic selling their Tethers? Of course, after that, they could no longer pump up the price. But the immediate consequence would seem to be the opposite to me.

junan_paalla
Dec 29, 2009

Seriously, do drugs

Fame Douglas posted:

Wouldn't Tether imploding push up the price of Bitcorn even more? With everyone panic selling their Tethers? Of course, after that, they could no longer pump up the price. But the immediate consequence would seem to be the opposite to me.

In this scenario, who is selling their bitcoin in exchange for tethers? And if tethers have no value, and you maybe want to not be subject to bitcoins wild price swings, you have to sell your bitcoins either for another lovely swingy cryptocoin or for actual USD, of which there's surprisingly little compared to what the 'volume' and 'order book' numbers say.

Chalks
Sep 30, 2009

Fame Douglas posted:

Wouldn't Tether imploding push up the price of Bitcorn even more? With everyone panic selling their Tethers? Of course, after that, they could no longer pump up the price. But the immediate consequence would seem to be the opposite to me.

70-80% of all bitcoin purchases are done with tether, so such a huge drop in people buying bitcoin will lead to a big drop in price. some people will panic sell as a result, and every time that has happened the tether printer has gone and propped the price up again - but that won't happen this time so the drop will be far worse.

that may be offset by people trying to panic sell tethers... but who is going to be buying them? how much will they be willing to pay, considering there's no obvious way for them to turn them into currency?

people panic selling tethers for $0.01 each aren't going to exert much upwards pressure on the market, and the impact of everyone panic selling bitcoin when they realised that almost all the people "buying" it were doing so with worthless funbucks will be very large indeed

Fame Douglas
Nov 20, 2013

by Fluffdaddy
I guess that makes sense, the true believers still buying up Tethers even when the scam has been laid bare probably aren't that great in number.

I was reminded of the time people were buying up Pirate Savings & Trust debt, after that ponzi failed.

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe

Fame Douglas posted:

Wouldn't Tether imploding push up the price of Bitcorn even more? With everyone panic selling their Tethers? Of course, after that, they could no longer pump up the price. But the immediate consequence would seem to be the opposite to me.

"the opposite" of what?

bitcoin's price doesn't necessarily have to go down for laffs to go up Up UP you know.

The collapse of Mt. Gox was a bull market for laffs and that had huge variation in the price of butts between Gox (where nominal US$ holdings were trapped) and everywhere else. It would not be at all surprising if something similar happened when Tether goes tits-up.

Munkeymon
Aug 14, 2003

Motherfucker's got an
armor-piercing crowbar! Rigoddamndicu𝜆ous.



Coinbase has their own stable coin all ready to replace Tether so the dream of a sudden collapse causing butts to go to zero looks unlikely to me :smith:

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe

Munkeymon posted:

Coinbase has their own stable coin all ready to replace Tether so the dream of a sudden collapse causing butts to go to zero looks unlikely to me :smith:

it might replace tether in its purported role as a "stable coin", but will it replace tether's de facto role as a means for shady market participants to pump bitcoin's value? coinbase iirc is the relatively law-abiding cryptocurrency organisation that institutions are willing to keep at arm's length, as opposed to the other cryptocurrency orgs which they won't touch with a ten foot pole. So presumably coinbase's stable coin can't and won't fill that role. When tether disappears and there's nothing doing for bitcoin what tether currently does, what happens? who knows, but it will probably be stupid (and therefore funny)

Chalks
Sep 30, 2009

Munkeymon posted:

Coinbase has their own stable coin all ready to replace Tether so the dream of a sudden collapse causing butts to go to zero looks unlikely to me :smith:

their stablecoin is legit though so it's just the same as any other currency. unless coinbase decide to start offering their stablecoin in a 1:1 ratio with tethers when everyone else stops buying them, i don't think it'll matter.

the issue isn't with the concept of stablecoins, it's with tether due to the fact that the coin is backed by a fraction of its face value and accounts for the majority of bitcoin purchases.

bitcoin doesn't need a stablecoin to maintain its current pricing - it needs someone spawning billions of "dollars" out of thin air every month and spending it on bitcoin.

junan_paalla
Dec 29, 2009

Seriously, do drugs

Chalks posted:

their stablecoin is legit though so it's just the same as any other currency. unless coinbase decide to start offering their stablecoin in a 1:1 ratio with tethers when everyone else stops buying them, i don't think it'll matter.

the issue isn't with the concept of stablecoins, it's with tether due to the fact that the coin is backed by a fraction of its face value and accounts for the majority of bitcoin purchases.

bitcoin doesn't need a stablecoin to maintain its current pricing - it needs someone spawning billions of "dollars" out of thin air every month and spending it on bitcoin.

USD coin still isn't audited, they have attestations which are as good as paying someone to say "yeah the money's there". it literally can't be audited, because it would mean either admitting that they're issuing an unregistered security, or admitting that usdc holders don't actually have any claims towards the holdings 'backing' them, making them worthless.

Chalks
Sep 30, 2009

well, at least it's considerably more legit seeming than tether which is just literal "not even trying to hide it" nonsense, printing perfect blocks of $200,000,000 when ever they feel like it.

Shame Boy
Mar 2, 2010

DerekSmartymans posted:

I’m not sure I...I’m, what? Did I miss something?

a little while ago you said some messed up stuff about transpeople in this thread when you weren't in a good place mentally and it'd be nice if you acknowledged that wasn't too good of you, that's all

KnifeWrench
May 25, 2007

Practical and safe.

Bleak Gremlin

Hammerite posted:

the market can remain unfunny longer than you can remain witty

too long, but this has amazing thread title energy

Shumagorath
Jun 6, 2001

KnifeWrench posted:

too long, but this has amazing thread title energy

I still like:

TasogareNoKagi posted:

nothing about butt coin could be described as "prompt"

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Blotto_Otter
Aug 16, 2013


Fame Douglas posted:

Wouldn't Tether imploding push up the price of Bitcorn even more? With everyone panic selling their Tethers? Of course, after that, they could no longer pump up the price. But the immediate consequence would seem to be the opposite to me.

I know this has been responded to some, but to articulate it a little differently: the price of Bitcoin in USDT will skyrocket; the price of Bitcoin in USD will plummet. The distinction has not mattered yet because, since Tether's inception, the exchange rates of Bitcoin/USDT and Bitcoin/USD have been largely (and absurdly) the same, but a Tether implosion would finally cause those prices to diverge and move in different directions. If/when this happens, it will be extra confusing and chaotic if theories are correct that some exchanges are not clearly differentiating between "USDT" and "USD" prices. It seems possible that a lot of folks are gonna be rudely surprised to find that they've actually been trading Bitcoin/USDT pairs and holding USDT in their exchange account, rather than Bitcoin/USD like they might have assumed.

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