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Mad Dragon posted:Should have called it Krapoopoopiss. Don’t do that! You might not be able to tell which is which!
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May 18, 2021 17:56
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no_tears posted:I feel like right now it's hard to take a loss at throwing some spare cash on shitcoins. Especially ones that earn interest or have public figures talking about them for whatever reason. gotta ride those pump and dumps! You take a 100% loss, with no recourse for recovery, if a person or exchange steals your unregulated digital gambling assets. If you genuinely have "spare cash", put it in an index fund.
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May 18, 2021 18:02
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no_tears posted:I feel like right now it's hard to take a loss at throwing some spare cash on shitcoins. Especially ones that earn interest or have public figures talking about them for whatever reason. gotta ride those pump and dumps! Considering how many exchanges are making their own currency and tether being backed by under 4% of actual cash I wouldn’t invest any amount of money. It’s a bunch of monopoly money that isn’t backed by anything and if too many people decide they want actual usable currency the Ponzi scheme is going to implode exchanges.
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May 18, 2021 18:25
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Wonder how Tom Brady is feeling about Bitcoin right about now. How's that store of wealth.
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May 18, 2021 19:21
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spunkshui posted:Considering how many exchanges are making their own currency and tether being backed by under 4% of actual cash I wouldn’t invest any amount of money. It’s amazing to me that people who can’t trust a regulated, insured bank to the point they want to destroy it, don’t seem to blink twice keeping money on an exchange. Madoff ram a multi decade Ponzi on folks who literally “had people” for taxes and laws and investments, yet they see 0 things out of the ordinary with Tether. Madoff had a clean record and fleeced billions with good bedside manner. EVERY SINGLE exchange has lost some client money or just stole it and ran away. They can’t find China on a globe, but seem to have no problems at all trusting the miners. THEY WITNESSED multiple 51%+ attacks and wrote blog posts and email and Reddit tirades, but trust they won’t do it again. Primary sources that you can find with a two word Google search warn about USDT, at yet these coiners see no problem with buying it and bits repeatedly to the tune of billions of  But they don’t trust fiat backed by the army and time of use, but the fundamentals on Tether are apparently solid. I don’t have a lot of money. I also know if Joe from accounting at Regions embezzled all $ on deposit and gave it to ISIS, my money would be back wether he was caught or not. And if I fat-finger my PIN at an ATM IN Idaho I don’t lose my life’s savings. It breaks my already-naive and trusting brain. And bizarrely, it is really funny at the same time.
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May 18, 2021 19:45
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https://twitter.com/CNBC/status/1394677293461778433?s=20 Looks like even China is starting to crack down on crypto.
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May 18, 2021 19:49
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DerekSmartymans posted:It’s amazing to me that people who can’t trust a regulated, insured bank to the point they want to destroy it, don’t seem to blink twice keeping money on an exchange. Madoff ram a multi decade Ponzi on folks who literally “had people” for taxes and laws and investments, yet they see 0 things out of the ordinary with Tether. Madoff had a clean record and fleeced billions with good bedside manner. EVERY SINGLE exchange has lost some client money or just stole it and ran away. They can’t find China on a globe, but seem to have no problems at all trusting the miners. THEY WITNESSED multiple 51%+ attacks and wrote blog posts and email and Reddit tirades, but trust they won’t do it again. Primary sources that you can find with a two word Google search warn about USDT, at yet these coiners see no problem with buying it and bits repeatedly to the tune of billions of well-researched counterpoint: numbers go up
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May 18, 2021 20:04
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InternetJunky posted:well-researched counterpoint: numbers go up Can’t be that well researched because the numbers are going down.
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May 18, 2021 20:08
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blunt posted:https://twitter.com/CNBC/status/1394677293461778433?s=20 Would this prohibit mining activities in China?
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May 18, 2021 20:10
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Yea, I thought the ASIC farms were government funded in China.
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May 18, 2021 20:16
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DerekSmartymans posted:It’s amazing to me that people who can’t trust a regulated, insured bank to the point they want to destroy it, don’t seem to blink twice keeping money on an exchange. Madoff ram a multi decade Ponzi on folks who literally “had people” for taxes and laws and investments, yet they see 0 things out of the ordinary with Tether. Madoff had a clean record and fleeced billions with good bedside manner. EVERY SINGLE exchange has lost some client money or just stole it and ran away. They can’t find China on a globe, but seem to have no problems at all trusting the miners. THEY WITNESSED multiple 51%+ attacks and wrote blog posts and email and Reddit tirades, but trust they won’t do it again. Primary sources that you can find with a two word Google search warn about USDT, at yet these coiners see no problem with buying it and bits repeatedly to the tune of billions of but if it's centrally regulated then the government can arbitrarily make your money worthless any second, can't trust it sure it may take a while but the invisible hand of the free market is going to solve it. if an exchange takes people's money and disappears, people won't put any more money into that exchange. real competition means that any exchanges remaining have been selected as being good and trustworthy
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May 18, 2021 22:53
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https://www.bleepingcomputer.com/news/cryptocurrency/nvidia-cripples-cryptocurrency-mining-on-rtx-3080-and-3070-cards/quote:"To help get GeForce GPUs in the hands of gamers, we announced in February that all GeForce RTX 3060 graphics cards shipped with a reduced Ethereum hash rate," Wuebbling added. Thanks, shitcoin miners, for introducing GPU DRM. Armitag3 fucked around with this message at 23:17 on May 18, 2021 |
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May 18, 2021 23:15
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e:dit isnt quote
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May 18, 2021 23:17
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blunt posted:https://twitter.com/CNBC/status/1394677293461778433?s=20 this is good, for bitcoin
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May 18, 2021 23:20
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blunt posted:https://twitter.com/CNBC/status/1394677293461778433?s=20 Praise Mao
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May 18, 2021 23:42
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people in the comments say thats a policy from 2013
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May 18, 2021 23:43
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Relin posted:people in the comments say thats a policy from 2013 Considering all kinds of newspapers reported on it today, I'm dubious on these coiner claims being true.
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May 18, 2021 23:47
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Why would China want Bitcoin to function as anything other than an extractive industry? They have people mining something whose primary "value" is in Western financial markets, and domestically produced Bitcoin getting converted on overseas exchanges into actual currency before being incorporated into the real Chinese financial markets makes sense. I mean, I haven't looked into it further, but at a superficial level of analysis it makes sense to me.
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May 18, 2021 23:50
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Collateral posted:Has anybody floated the idea of creating Gooncoin?
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May 18, 2021 23:51
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china has done this before, i'm too lazy to research whether or not these are new policies or they're just gonna enforce old ones but they've been down the "institutions don't touch crypto" road before
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May 18, 2021 23:55
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CaptainSarcastic posted:Why would China want Bitcoin to function as anything other than an extractive industry? They have people mining something whose primary "value" is in Western financial markets, and domestically produced Bitcoin getting converted on overseas exchanges into actual currency before being incorporated into the real Chinese financial markets makes sense. I mean, I haven't looked into it further, but at a superficial level of analysis it makes sense to me.
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May 18, 2021 23:55
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Relin posted:people in the comments say thats a policy from 2013 The Chinese gov't gave us the lovely term "digital gambling asset" when they banned it, IIRC. Zeppelin Insanity posted:but if it's centrally regulated then the government can arbitrarily make your money worthless any second, can't trust it Have you suddenly become a "coiner" or can we skip debunking this line of thinking for the umpteenth time?
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May 18, 2021 23:56
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Pretty sure that's sarcastic but with buttcoin there's a strong Poe's Law effect going on.
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May 18, 2021 23:58
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Fame Douglas posted:Considering all kinds of newspapers reported on it today, I'm dubious on these coiner claims being true. seems like newspapers know as much about crypto as i do
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May 19, 2021 00:03
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Would I be wrong to say that the trend is the longer lasting exchanges tend to have re-implemented a bunch of protections? thereby also defeating a bunch of blockchain tech ideals?
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May 19, 2021 00:07
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It’s almost like china knows this poo poo is poison, hmmm
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May 19, 2021 00:27
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Shumagorath posted:That last bit of your theorized process isn't happening. It's a tool for evading capital controls. RMB --> electricity --> buttcoin --> USD (because miners sure as poo poo are not hodling) Also, monthly reminder that this "deflationary" currency prints a cool new $38 million USD equivalent per day at current prices as a reward for miners. The joke currency Doge was only printing $6.9 million per day last time I looked.
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May 19, 2021 00:33
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InternetJunky posted:well-researched counterpoint: numbers go up I bow to your logic. :humble:
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May 19, 2021 01:32
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May 19, 2021 04:05
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Andy Dufresne posted:Also, monthly reminder that this "deflationary" currency prints a cool new $38 million USD equivalent per day at current prices as a reward for miners. The joke currency Doge was only printing $6.9 million per day last time I looked. What does "deflationary" mean in your dictionary?
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May 19, 2021 04:11
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Somfin posted:What does "deflationary" mean in your dictionary? I used quotes for a purpose: I'm not using my dictionary, I'm using bitcoin's. One of the main theoretical benefits of bitcoin over fiat is that there will only ever be 21M of them and so they are scarce so you should buy them all now! Except, well, 900 of them are still being created per day right now and the supply won't really run dry for another 19 years. If we account for bitcoin that is presumably lost in the early days the supply is increasing by a bit more than 4% per year right now. Yes, I understand purchasing power and not money supply is the real reflection of inflation. What with all the things you can purchase with bitcoin.
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May 19, 2021 04:23
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Armitag3 posted:https://www.bleepingcomputer.com/news/cryptocurrency/nvidia-cripples-cryptocurrency-mining-on-rtx-3080-and-3070-cards/ This happened with the RTX 3060 earlier this year and Nvidia accidentally released a workaround less than a month later. EDIT: Ah, I see the article talks about the 3060, but doesn't mention the accidental beta driver release that unthrottled the hash rate. https://twitter.com/verge/status/1362411147706654723 https://twitter.com/verge/status/1371466888535015426 Doggles fucked around with this message at 05:08 on May 19, 2021 |
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May 19, 2021 05:06
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Relin posted:https://twitter.com/CoinDesk/status/1394673194326429699 China didn't ban crypto but soft ban it anyway?
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May 19, 2021 05:09
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Bleusilences posted:China didn't ban crypto but soft ban it anyway? china has some of the most of amazing and progressive consumer, labor and anti-corruption laws on the planet they're not enforced because they're used only as a tool against business/people the local or central government wants to crack down on
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May 19, 2021 08:48
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Relin posted:https://twitter.com/CoinDesk/status/1394673194326429699 That article seems to affirm that yes, China did just ban crypto: In 2013, they banned Bitcoin. 2017 ICOs, and now Cryptocurrencies in general.
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May 19, 2021 09:21
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I remember a looong time ago the winklevoss twins bought a shitload of buttes when it wasn't worth that much yet. What happened with that? Are they now the proud owners of 100 billion dollars of buttes?
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May 19, 2021 09:32
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KinkyJohn posted:I remember a looong time ago the winklevoss twins bought a shitload of buttes when it wasn't worth that much yet. What happened with that? Are they now the proud owners of 100 billion dollars of buttes?
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May 19, 2021 09:33
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Fame Douglas posted:That article seems to affirm that yes, China did just ban crypto: In 2013, they banned Bitcoin. 2017 ICOs, and now Cryptocurrencies in general. If only they'd ban mining it Raid the mining farms Xi. Confiscate the asics and melt them down
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May 19, 2021 09:46
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KinkyJohn posted:I remember a looong time ago the winklevoss twins bought a shitload of buttes when it wasn't worth that much yet. What happened with that? Are they now the proud owners of 100 billion dollars of buttes? they used their gold mine discovery to start an exchange (gemini) and sell shovels to rubes instead
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May 19, 2021 09:58
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We're under $40k now, back to the price from early February. So now the folks who bought in with their stimmies need to decide if they're actually gonna hodl or be underwater.
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May 19, 2021 11:30
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