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Chalks posted:The reason centralization is bad is because of the exact thing that's happening now in China. If it happening is in fact not bad, then centralization is fine I guess? Take it as a given that centralization is just inherently bad. That's basically the whole point of bitcoin. If it's de-facto centralized, as it was in china, then the whole scheme isn't even internally consistent. You could see the true believer Hyper-Logical Libertarian types squirm trying to defend that.
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Jun 21, 2021 20:34
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Nybble posted:
mods
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Jun 21, 2021 20:38
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cool av posted:Take it as a given that centralization is just inherently bad. That's basically the whole point of bitcoin. it also seems like mining would self centralize itself in the one place that offers cheapest power and gives the least shits
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Jun 21, 2021 20:42
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KnifeWrench posted:perhaps more accurate to say centralization is self-correcting? make too big of a target and you get shut down. we joke a lot about bitcoiner talking points, but this would appear to be a legitimately resilient aspect of the system, unfortunately Yeah I just mean that Bitcoin is no stronger for having proved that it's vulnerable to centralization and government action even if will survive because the whole point is that this stuff shouldn't have an impact. So Bitcoin is reliant on finding another friendly government with vast cheap energy reserves, how very decentralised.
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Jun 21, 2021 20:53
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Shumagorath posted:buttcoin: be your owned bank
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Jun 21, 2021 20:57
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my fiscal and ecological and political and judicial and psychological catastrophe is also named bortcoin
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Jun 21, 2021 21:15
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Shumagorath posted:buttcoin: be your owned bank
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Jun 21, 2021 21:57
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Shumagorath posted:buttcoin: be your owned bank
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Jun 21, 2021 21:57
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Shumagorath posted:buttcoin: be your owned bank
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Jun 21, 2021 22:08
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also China has rock bottom energy prices and bitcoin mining is only profitable in america right now because of tethers.
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Jun 21, 2021 22:35
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Beelzebufo posted:also China has rock bottom energy prices and bitcoin mining is only profitable in america right now because of tethers. All power belongs to the CCP And nobody steals from the CCP NOBODY
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Jun 21, 2021 22:47
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lol. just lol.
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Jun 21, 2021 23:19
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the top four addresses (3 of which are claimed to be exchange cold wallets) control about 5% of the bitcoins the top ~100 addresses control ~15% of the bitcoins the top ~2000 addresses control ~25% of the bitcoins ...and a bunch of those addresses are known to be controlled by the same users/entities: binance owns the top wallet, but also owns different wallet that's also in the top ten. kraken owns 4 wallets in the top 100. and so on. bitcoin has literally never been decentralised for any meaningful definition of the term
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Jun 21, 2021 23:27
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SubG posted:the top four addresses (3 of which are claimed to be exchange cold wallets) control about 5% of the bitcoins 
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Jun 22, 2021 00:00
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Oh yeah buttcoin will be great for the Texas grid:quote:Texans regret opting into power plan that remotely raises thermostat temps
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Jun 22, 2021 02:23
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texas is weird
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Jun 22, 2021 02:26
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just buy a cooler house nft
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Jun 22, 2021 02:41
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Shumagorath posted:buttcoin: be your owned bank Please Dear Sweet Baby Jesus please mods
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Jun 22, 2021 02:43
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no see we don't actually deliver electricity to your house, you just get a url that goes to a page that says "your house has electricity"
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Jun 22, 2021 02:45
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bitcoin is a store of energy so just use them to power your ac
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Jun 22, 2021 02:47
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Shumagorath posted:buttcoin: be your owned bank
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Jun 22, 2021 02:49
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on paper my house is already cool enough its just swealteringly hot because of unrealised gains
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Jun 22, 2021 02:50
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SubG posted:on paper my house is already cool enough its just swealteringly hot because of unrealised gains
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Jun 22, 2021 02:53
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have you considered that if your house was even hotter you could use the heat to power a small steam dynamo and mine bitcoins??
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Jun 22, 2021 02:55
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Shumagorath posted:Oh yeah buttcoin will be great for the Texas grid: Lmao when you're in Austin in all you can afford is renting an apartment and you can't opt out of the power saving plan
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Jun 22, 2021 03:04
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i'm so proud   :quadrigacx:
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Jun 22, 2021 03:31
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Shumagorath posted:Oh yeah buttcoin will be great for the Texas grid: Reading this this seems like it would a great system in a socialized context. In particular I feel like a swtich like this should just be installed in all coiner rigs, so the utility can choose to turn them off when better uses of electricity exist. So just weld the switch to off.
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Jun 22, 2021 03:55
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can we make a coin that gives rewards for producing energy so a whole bunch of fat nerds will get in shape on exercise bikes powering generators and some genius will make a literal hamster wheel farm
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Jun 22, 2021 04:26
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jisforjosh posted:Lmao when you're in Austin in all you can afford is renting an apartment and you can't opt out of the power saving plan Does it run often enough to keep your sleeping space below 72 at night? Might want to get used to 86 degrees inside if texas gets its bitcoin wish.
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Jun 22, 2021 05:10
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vortmax posted:Please Dear Sweet Baby Jesus please mods thank you mods i love you
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Jun 22, 2021 05:37
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vortmax posted:thank you mods i love you please stop doxxing (acknowledging the existence of) the mods tia
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Jun 22, 2021 06:07
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Boxturret posted:please stop doxxing (acknowledging the existence of) the mods tia i don't even know who the mods are, only that they exist unless it's DEAR JEFFERY edit: buttcoin
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Jun 22, 2021 06:13
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Mercury_Storm posted:can we make a coin that gives rewards for producing energy so a whole bunch of fat nerds will get in shape on exercise bikes powering generators and some genius will make a literal hamster wheel farm proof of workout
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Jun 22, 2021 07:50
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https://twitter.com/MrktMeditations/status/1406982376417280001 Love to have 3 tons of backdoors in MD. gschmidl fucked around with this message at 08:38 on Jun 22, 2021 |
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Jun 22, 2021 08:35
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Soricidus posted:proof of workout
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Jun 22, 2021 10:09
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Kraken is showing a sub $30k price. Tether printer not go brrrrr?
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Jun 22, 2021 14:21
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gschmidl posted:https://twitter.com/MrktMeditations/status/1406982376417280001 that’s a $10-15k movement, depending on market and poo poo
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Jun 22, 2021 14:26
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Soricidus posted:proof of workout
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Jun 22, 2021 15:00
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gschmidl posted:https://twitter.com/MrktMeditations/status/1406982376417280001 someone at Fort Meade just popped the largest boner in the universe
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Jun 22, 2021 16:24
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SYSV Fanfic posted:Kraken is showing a sub $30k price. Tether printer not go brrrrr? Not recently. It's been quiet for a couple of weeks. There was a similar quiet period about 3 months ago. I think on that occasion it was commented on as being maybe something to do with the NYAG agreement?
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Jun 22, 2021 16:39
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