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Yeah that smells a lot like a pump and dump. https://twitter.com/IronFinance/status/1405320650202419202 e: Of course the comments are shock full of other con artists shilling their pump and dump scheme instead.
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Jun 17, 2021 10:29
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Bogdanov: “he bought ze titan and ze iron?”
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Jun 17, 2021 11:43
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Can someone explain how yield farms or whatever this thing is differs from any other shitcoin or scam token like say Bitcoin
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Jun 17, 2021 12:00
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Love that they used the hide tweet feature, which rarely does you any good.
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Jun 17, 2021 13:37
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Collateral Damage posted:e: Of course the comments are shock full of other con artists shilling their pump and dump scheme instead. Hey buddy. Turn that frown upside down and invest in $SCAM. You apes wanna be poor forever??? kliras posted:Love that they used the hide tweet feature, which rarely does you any good. That is the dumbest feature ever. All it does is draw more attention to the posts.
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Jun 17, 2021 13:46
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jokes posted:But Notch has a dedicated candy room how unhappy can he be? Oh poo poo, this is like the book of Ecclesiastes. The richest man in the world realises "all is vanity".
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Jun 17, 2021 14:03
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Like 8 or 9 years ago, I ended up purchasing 14 Bitcoin mining ASICs. Back then, those things actually made me a few hundred dollars within a short period of time. I hooked some of them up the other day just as a curiosity experiment and, given the slowwwwwwwww speed of those old things against the current mining difficulty level, the calculations came out that they could now make me ~$36 in Bitcoin............. in 33 years and 2 months. PASS. I'm out.
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Jun 17, 2021 14:10
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Ecclesiastes owns, it's the thousands of years old internal monologue of one king's journey from "nothing matters  " to "nothing matters  " and reads as fresh as if it were written yesterday.
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Jun 17, 2021 14:20
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Catastrophe posted:Like 8 or 9 years ago, I ended up purchasing 14 Bitcoin mining ASICs. Back then, those things actually made me a few hundred dollars within a short period of time. I hooked some of them up the other day just as a curiosity experiment and, given the slowwwwwwwww speed of those old things against the current mining difficulty level, the calculations came out that they could now make me ~$36 in Bitcoin............. in 33 years and 2 months. There was a bitcoin crash a few years ago that resulted in chinese firms selling bitcoin miner hardware by the pound, since those things would never be able to ever again turn a profit mining and would need to be scrapped It was pretty great. There were even a few twitter videos with a loud chinese guy screaming about how he needed to sell this poo poo
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Jun 17, 2021 14:39
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And all these ASIC based miners are completely useless once they're no longer "profitable" because ASICs are not universal CPUs, they can't do anything except run the simple hashing operation that bitcoin uses. Just a massive amount of e-waste.
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Jun 17, 2021 15:03
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not only can they not do anything else, you cant even buy them up on the idiot hope that Number Will Go Back Up because by then they're no longer competitive against whatever newer hardware exists then melt 'em
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Jun 17, 2021 15:15
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Ad by Khad posted:There was a bitcoin crash a few years ago that resulted in chinese firms selling bitcoin miner hardware by the pound, since those things would never be able to ever again turn a profit mining and would need to be scrapped Links yo
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Jun 17, 2021 15:53
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buttcoin
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Jun 17, 2021 19:58
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Just did a CLE seminar for securities attorneys and apparently the government really does not like cryptocurrencies for most of the same reasons as this thread. The AML violations alone are astounding
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Jun 17, 2021 20:04
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^^^ The amount of sperglord crypto maximalists who think all regulation is bad and crypto shouldn't be taxed and gently caress the government, etc etc are astounding. Truly we have entered a golden age. edit: of butts.Alan Smithee posted:Can someone explain how yield farms or whatever this thing is differs from any other shitcoin or scam token like say Bitcoin Because instead of your coins going to zero in value, you can actually end up with less holding of the same zero value coins at the same time! Enter impermanent loss!
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Jun 17, 2021 22:07
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I prefer to move on, and heal
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Jun 17, 2021 22:11
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Tiax Rules All posted:Here's a great video breaking down the history of Tether. It's a summary of what most people in this thread probably already know, but it's well-made and encouraging to see awareness of Tether becoming more mainstream. My father recently got in to investing in Bitcoin. I sent him this video hoping that the long length and goofy intro doesn't put him off. There's some very interesting stuff here.
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Jun 17, 2021 22:44
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notwithoutmyanus posted:^^^ The amount of sperglord crypto maximalists who think all regulation is bad and crypto shouldn't be taxed and gently caress the government, etc etc are astounding. Truly we have entered a golden age. edit: of butts. Astounding? The entire game is FYGM.
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Jun 17, 2021 22:53
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More on the IRON collapse here: https://irony-97882.medium.com/the-melting-of-iron-89469b01e083 tl;dr: they thought they could back their new "stable" coin with 75% another stablecoin and 25% some new shitcoin they invented. They failed to consider no one would want thier shitcoin, which caused its price to fall, which caused more shitcoins to be emitted, which caused the price to fall even further, eventually falling by something like 99.99999%. The price got so low, a crucial piece of code rounded it to zero, which completely broke part of the "smart" contract (though that was later resolved?) Also somewhere in here there were 30,000% APR yields and Mark Cuban, because reasons.
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Jun 18, 2021 01:23
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drk posted:More on the IRON collapse here: https://irony-97882.medium.com/the-melting-of-iron-89469b01e083 code:
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Jun 18, 2021 01:36
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Why do bitcoiners keep trying to re-invent fiat currency?
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Jun 18, 2021 02:06
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Hamburger Sandwich posted:Why do bitcoiners keep trying to re-invent fiat currency? What if Fiat currency, except I give myself $100,000 advantage?
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Jun 18, 2021 02:11
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Hamburger Sandwich posted:Why do bitcoiners keep trying to re-invent fiat currency? Because they are smarter than everyone and know better than the pleebs.
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Jun 18, 2021 02:16
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nomad2020 posted:What if Fiat currency, except I give myself a -$100,000 advantage? I fixed that for you.
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Jun 18, 2021 02:16
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Coin Developer minting coin:nomad2020 posted:What if Fiat currency, except I give myself $100,000 advantage? Savvy coin investor: MarcusSA posted:
Usually we're talking in the amounts of 'multiple' dollars stolen because marketing is hard, but it's not exactly uncommon for one to hit upwards of 100k before people start to notice that they can't sell. The whole smart contract coin trading environment is like playing financial Russian Roulette.
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Jun 18, 2021 02:27
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drk posted:More on the IRON collapse here: https://irony-97882.medium.com/the-melting-of-iron-89469b01e083 Yeah here's Matt Levine doing his thing with it yesterday: https://www.bloomberg.com/opinion/articles/2021-06-17/titanium-got-crushed
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Jun 18, 2021 12:10
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S-M-R-T contracts
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Jun 18, 2021 13:11
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Collateral Damage posted:And all these ASIC based miners are completely useless once they're no longer "profitable" because ASICs are not universal CPUs, they can't do anything except run the simple hashing operation that bitcoin uses. the fact that butt machines cant even be used to play Doom means we should arrest all coiners, make a real life Doom Arena, and make it a death game.
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Jun 18, 2021 16:41
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Yea at least when eth mining crashes I can buy a cheap 3090 and just replace the fans. Asics are by far the worst of the poop touching gear.
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Jun 18, 2021 16:49
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Stealthgerbil posted:Yea at least when eth mining crashes I can buy a cheap 3090 and just replace the fans. Asics are by far the worst of the poop touching gear.
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Jun 18, 2021 16:51
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Stealthgerbil posted:Yea at least when eth mining crashes I can buy a cheap 3090 and just replace the fans. Asics are by far the worst of the poop touching gear. https://twitter.com/fireh9lly/status/1405886564081803264
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Jun 18, 2021 17:49
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TSB (Bank in the UK) moves to block their 5 million customers from sending money to cryptocurrency exchanges after Binance ghosts them by responding to zero of their inquiries on 849 of their customers getting scammed. Number go down https://archive.is/kZx4a
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Jun 19, 2021 01:43
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drk posted:TSB (Bank in the UK) moves to block their 5 million customers from sending money to cryptocurrency exchanges after Binance ghosts them by responding to zero of their inquiries on 849 of their customers getting scammed. I pulled out everything I had in binance a while back because yeah, they don't smell right. More than the rest of them I mean.
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Jun 19, 2021 01:52
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snorch posted:I pulled out everything I had in binance a while back because yeah, they don't smell right. More than the rest of them I mean. Are they the one who if they go down, they take tether with them?
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Jun 19, 2021 04:08
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No that's bitfinex.
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Jun 19, 2021 04:52
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Binance is by far the largest BTC/USDT exchange, but yeah its all a big incestuous mess - Tether is involved with pretty much all of the large exchanges, and provides a substantial percentage of trade volume. Exactly what kills Tether at this point almost doesn't matter, the writing is on the wall.
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Jun 19, 2021 05:06
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If (when?) tether goes down that'll trigger a pretty huge crash across all crypto, right?
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Jun 19, 2021 07:15
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Party Boat posted:If (when?) tether goes down that'll trigger a pretty huge crash across all crypto, right? Actually that is good for Bitcoin 
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Jun 19, 2021 07:16
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Party Boat posted:If (when?) tether goes down that'll trigger a pretty huge crash across all crypto, right? Presumably. I still wonder if some of the major players want to keep the price down in order to stop institutional investors from getting involved, which would then bring regulatory scrutiny to whole shell-game. Not everyone involved in crypto can be a complete idiot, right?
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Jun 19, 2021 07:26
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Party Boat posted:If (when?) tether goes down that'll trigger a pretty huge crash across all crypto, right? hell yeah brother buy that dip!
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Jun 19, 2021 07:35
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