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Powder keg posted:It's based off of collective extrinsic value. Lol this post rules because it’s also saying that the price is increasing based on nothing at all, literally nothing. But it’s being framed as a retort to the exact same assertion. Poster 1: Bitcoins are poop Poster 2: Wrong, bitcoins are poo poo Fuckin lol seraph goddamn
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Jul 28, 2021 15:20
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Collateral Damage posted:The Amazon news that they'd start accepting buttcoin was also false, Amazon put out an official statement saying they have no interest in taking cryptocurrencies. They really don't tho. In all likelihood that position at Amazon is there so that if some mark comes in and says "I would like to spend $$$$$$$ on AWS hosing for my Blockchain project" the salesperson can say "oh my what a great idea, let me rope in our Blockchain Expert so we can discuss your needs!"
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Jul 28, 2021 15:26
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I just cannot deal with anyone who combines the vocabulary and prosody of a schlocky anime/JRPG antagonist in earnest not knowing the writers of said anime/JRPG intentionally write those characters to sound obnoxious, deluded and not at all "cool".Powder keg posted:https://www.youtube.com/watch?v=68P3INpmLJE like I know Seraph's doing a bit here and it's a song not an anime speech but it's like come the gently caress on. How can you observe this post and not want to slam him into a locker??? I'm not even a bully!
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Jul 28, 2021 15:32
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Sorry i'm still incredibly owned about amazon accepting bitcoin, never has a single human being been this owned
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Jul 28, 2021 15:38
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Shifty Pony posted:They really don't tho. Blockchains absolutely have uses, they could totally revolutionize <INDUSTRY X>. Do I work in <INDUSTRY X>? Well, no, but everyone knows <INDUSTRY X> isn't very complicated, all it takes is a little imagination! Can I explain in my own words what a blockchain is and how it would benefit <INDUSTRY X>? Haha yeah I totally could, but I can't right now, I'm very busy, here's a link to a four-hour video on Youtube by DeFiDude92 that totally explains everything
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Jul 28, 2021 15:59
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I’ve been swayed in the past by the propaganda that tulipmania was something that Charles McKay made up, so let me state now: tulipmania is as documented as one could hope for a 17th century event. Most of the sources are critical pamphlets written by multiple authors. However we also have court records of the contracts and political records of the government response. We have names of speculators. We have attestations that the tradesmen of particular cities were betting their livelihoods on tulips. If you can read Dutch, you do not have to rely on interpretation by McKay or any other historian.
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Jul 28, 2021 16:11
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Plant MONSTER. posted:I just cannot deal with anyone who combines the vocabulary and prosody of a schlocky anime/JRPG antagonist in earnest not knowing the writers of said anime/JRPG intentionally write those characters to sound obnoxious, deluded and not at all "cool". I had to unbookmark the thread for a bit until his inevitable probe/ban/perma because it was just insanely aggravating having a weirdo like that making GBS threads up the place with massive text walls. Also anyone who quotes text walls like that even as a joke is a weiner.
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Jul 28, 2021 16:17
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He tries to post in the YOSPOS thread too but they're smart enough not to respond.
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Jul 28, 2021 16:20
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I think some of the transformational energy and transformational financial systems arguments have two basic purposes for bitcoiners: 1. Give the people that already want to buy in or are otherwise gullible a confusing-to-actually-explain but nice-sounding reason to buy in. 2. Slide arguments with skeptics into lines of thinking that are that are so tediously circular that they tend to stalemate, the best outcome the coiner can hope for.
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Jul 28, 2021 16:20
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zedprime posted:There's various opinions on if and how it's a problem for who, but we're starting to see the 401k doom and gloomers have a point (if your goal is entrepreneurial investment opportunities). Between the focus on 401k investment accounts as your retirement account and middle class investors doing any extra investing in unmanaged ETFs now, most legitimate securities are just owned by a few market maker ETF managing companies and the volume is them trading chits back and forth. You can't get into most legitimate securities without buying into the unofficial national retirement insurance fund in some way. So if you think you are an exceptional person who wants exceptional results you start looking in the margins: angel investing, startup buyouts, exotic derivatives, and I guess crypto now. Perhaps the problem is the obsession with indexing that comes from modern portfolio theory. Essentially, the concept is that the purpose of investing is not to maximize returns, but to maximize the ratio of returns to volatility, and therefore every asset is worth holding in a proportion that improves your diversification. So, inevitably the only acceptable investment is a fully indexed portfolio of every asset. And in theory, that index has a place for bitcoin, and a lot of the mooners are looking forward to where bitcoins will be included in every target date retirement fund. Of course, the theory is largely bullshit and actually lost its explanatory power for investment returns around when people actually started constructing portfolios using it. And as an exceptional individual myself  I still think there are opportunities enough in legitimate investments and actually indexing is what creates them because weighting securities by market cap innately overweights overpriced assets and underweights underpriced ones.
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Jul 28, 2021 17:22
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it's a good point someone made earlier that if buttcoin will usher in a new era of universal economic fairness and an end to inequality, then there's no need to invest early, as even the latest adopter will be blessed by it, equally as much as the early adopters. Right??? so really, the best strategy is to be a nocoiner until such time as that happens
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Jul 28, 2021 17:50
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The fixation on the price defeats the argument. Why are shares in our perfect egalitarian future priced at
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Jul 28, 2021 17:54
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"To smash the oligarchical plutocracy that is keeping humanity down, first we the wise and foresighted early adopters have to get infinitely rich. This will result in equality for all because --" TRANSMISSION LOST
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Jul 28, 2021 17:55
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kw0134 posted:"To smash the oligarchical plutocracy that is keeping humanity down, first we the wise and foresighted early adopters have to get infinitely rich. This will result in equality for all because --" TRANSMISSION LOST And when at last it is time for the transition from megacorporation to planetary government, from entrepreneur to emperor, it is then that the true genius of our strategy shall become apparent, for energy is the lifeblood of this society and when the chips are down he who controls the energy supply controls Planet. In former times the energy monopoly was called "The Power Company"; we intend to give this name an entirely new meaning. CEO Nwabudike Morgan
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Jul 28, 2021 17:58
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Ghost Leviathan posted:Isn't it a big problem that the super rich are bored as poo poo and throwing their money at Silicon Valley scams because they want something with ridiculous returns on investment, and there's an entire cottage industry around grifting them? Like the Theranos woman with the weird rear end speaking tone that's apparently specifically meant to appeal to crusty billionaires. One way to appeal to a rich person is by telling them that they can invest their money and build a better tomorrow. It's not necessarily thrills or ridiculous returns that they're after (already got em) but moral vindication.
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Jul 28, 2021 17:58
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Hobologist posted:Perhaps the problem is the obsession with indexing that comes from modern portfolio theory. I agree with them and seems like less with you in that I think they have a point that you are kind of hosed and fighting for crumbs if you want to invest millions of dollars into a set of traditional securities to beat the market. This is kind of a weird spot and what rightly should be the entrepreneurial zone in a market based economy: your best investments at this level are going to be in both money and time and your time is probably better spent managing a business than trying to understand every security. If someone is a failson wondering what to do with their recently unlocked trust and you've been steered away from the communist index funds, or maybe have so much money you can set that up as a base and still have something you need to do something with, your options start looking like buying a McDonalds franchise or pumping and dumping crypto. I can understand the latter, and also really want to dunk on it lol.
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Jul 28, 2021 18:09
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Laying it out like that has me thinking about retired sports players because they get what's theoretically their life's paycheck in the 10 years their physical fitness holds and need to make investments beyond what maybe a normal portfolio can do if they want to live on it for another 30-40 years. And there's the old joke about telling retiring players "I know you want to open a restaurant, that's a bad idea but at least buy a McDonalds" (and I think several taking this to heart and failing to even run a fast food franchise). So I'm thinking it's kind of surprising we haven't seen sports players jump into fronting crypto. I probably just cursed this to happen.
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Jul 28, 2021 18:16
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zedprime posted:So I'm thinking it's kind of surprising we haven't seen sports players jump into fronting crypto. I probably just cursed this to happen. https://twitter.com/MorningBrew/status/1386670372737671169 https://twitter.com/boardroom/status/1400486995680501761
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Jul 28, 2021 19:08
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Shifty Pony posted:They really don't tho. But the wording someone mentioned earlier is it was payment processing doing the hiring, whether real or fake or wishfully thinking it's real could be a big deal. LanceHunter posted:Amazon had a job posting for a "Digital Currency and Blockchain Product Lead" and in the description it said: "The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap."
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Jul 28, 2021 19:23
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"things said before the irs reposesses your solid-gold toilet"
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Jul 28, 2021 19:30
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This bad boy will break even for you around the 8 year mark if you can steal enough electricity. https://twitter.com/KellyCNBC/status/1420456601975132163
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Jul 28, 2021 20:04
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Mooseontheloose posted:And when at last it is time for the transition from megacorporation to planetary government, from entrepreneur to emperor, it is then that the true genius of our strategy shall become apparent, for energy is the lifeblood of this society and when the chips are down he who controls the energy supply controls Planet. In former times the energy monopoly was called "The Power Company"; we intend to give this name an entirely new meaning.
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Jul 28, 2021 20:19
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Doggles posted:https://twitter.com/MorningBrew/status/1386670372737671169 CTE is a hell of a thing
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Jul 28, 2021 20:22
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lmao
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Jul 28, 2021 20:23
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Shifty Pony posted:They really don't tho. Reuters: Amazon denies report of accepting bitcoin as payment
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Jul 28, 2021 20:31
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Diva Cupcake posted:This bad boy will break even for you around the 8 year mark if you can steal enough electricity. It can't be that stupid. You must be explaining it wrong.
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Jul 28, 2021 20:49
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zedprime posted:Resistance to indexed unmanaged funds is basically what I mean by 401k doom and gloomers, yeah. Diversification up to just using indexed unmanaged funds is market tested as "good enough" for investments of millions of dollars and is a completely rational approach to the modern security market where there is not enough time in the day to track every thing you'd ever be interested in. You see the argument turn self-backstabbingly ideological for free market capitalists who see normal people making investment profit off an index fund and think "oh my god, is the market inherently socialist if you can just invest in everything and win?" while twisting it into "how are market decisions supposed to be made if random people equally invest in everything?" by the time they speak their criticism. investing in index funds is betting on the economy growing. how is than not helping market decisions to be made?
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Jul 28, 2021 21:01
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stinch posted:investing in index funds is betting on the economy growing. how is than not helping market decisions to be made?
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Jul 28, 2021 21:57
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Collateral Damage posted:coiner idiots interpreted that as "Amazon to start accepting bitcoin!!", but blockchains have other potential uses than just craptocurrencies. No, they don’t, though. Bitcoin is made by people who never got over the thrill of what adults call, “playing pretend” except with cons, scams, and plain stupidity. Every 5 y/o old kid could have thought up crypto, but parents tell them pieces of seashells and billion dollar bills with Hillary Clinton’s face aren’t real money. Coiners found Satoshi’s white paper for a made up bits and bytes and ran with it. Blockchain is worse. You have to have a decent brain to think it up, but it is worse than 1960’s database tech and there has never been proposed problems made better or even more efficiently run by an Excel spreadsheet that won’t be superior to a blockchain of any type. Block chains have been around and exhaustingly studied by responsible computer people for over a decade and there is still nothing it does better than my 15y/o doing my dad’s qwicken balances in 1991.
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Jul 28, 2021 23:22
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zedprime posted:It's a projection of the sort of free market economist who would say Somalia is actually a bad example of a free market. They want the stock market to be literally non stop Shark Tank because this invest in a bunch of everything nonsense is accidental socialism and is bolstering the wrong sorts of companies. You should never buy stakes in anything where you never met the owner at a country club. Literally a bunch of babies yelling "why do you keep using the market wrong, it's not supposed to be like this." I've literally never met someone such as you describe, but if I had, I would think investing in an LBO/private equity fund would suit them better than buttcoins.
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Jul 28, 2021 23:42
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novamute posted:The whole cryptocurrency as energy storage thing maybe the single dumbest thing to come out of the entire ecosystem. I’m sorry, but you are wrong. Look up (I don’t have a link because it was a couple of years ago) the Lightning Network. Not its claims, not its number of transactions, but the actual systems it “works” with. Please. If you believe in the laffchain at all, please look it up. The whole “coiin is a battery” poo poo is just wishful thinking, and any 6 y/o economics student (first graders learning about money) will tell you it’s silly and doesn’t work like that. The Lightning Network, though, is actively stupid. Someone thought this up and let other people see it. It’s so stupid it has no real world analogy. It’s kinda involved and nonsensical, which is why I don’t explain here itt. It’s even more convoluted than RPG inventory rules, tabletop or video games. “I’m an invisible rogue sneaking around while wearing 8 backpacks and carrying 600 stackable bearskins and 200 fish dinners because I haven’t been back to sell in town yet! I also have a coin purse with 100000 platinum pieces to buy an undead horse with black armor!” It has to involve magic somewhere, because even if it took over tomorrow, nobody would use it. It’s almost like getting a store credit card, at every individual place you shop, and if you don’t have a credit card with a high enough limit, you must get a second account with an entirely new card to pay the $0.64 in change or it simply won’t accept your purchase and you get your original rejected payment as another credit card and brand new account to leave the store with. For everything you buy. At each place you do business. If you think that’s stupid, here’s the kicker: I’m not making this up. I’m not exaggerating the unwieldily, except it’s electronic instead of physical cards. That’s not lying at any point. You must open a network “channel” with every entity you wish to do business with, and a new account with them if you need to pay a bit more. In advance. Even for poo poo like a Starbucks inside a Walmart. I hope you remembered to open a channel with Starbucks this morning because you can’t immediately use your leftover $12 balance on the Walmart channel to use. That is a “private” (  ) matter between you and Walmart. Now. which is dumber? Seriously. This is the selling point of the Lightning Network. The speed and ease of use will drive adoption over the world. And this is on top of all of Bitscoin’s problems as a currency/commodity/battery/“value” (lol). 
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Jul 29, 2021 01:07
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ultrafilter posted:He tries to post in the YOSPOS thread too but they're smart enough not to respond. We’re mostly the same people, just double-owned for posting in YOSPOS in the first place.
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Jul 29, 2021 01:11
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DerekSmartymans posted:lightning network, which is bad but you fail to see that it is "early days", therefore
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Jul 29, 2021 04:04
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"What if we take as given that P=NP, and make that the basis of our payment system" might be one of the least problematic things about the Lightning Network.
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Jul 29, 2021 04:10
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DerekSmartymans posted:No, they don’t, though. Bitcoin is made by people who never got over the thrill of what adults call, “playing pretend” except with cons, scams, and plain stupidity. Every 5 y/o old kid could have thought up crypto, but parents tell them pieces of seashells and billion dollar bills with Hillary Clinton’s face aren’t real money. Coiners found Satoshi’s white paper for a made up bits and bytes and ran with it. To be fair I don't think he was trying to say it was GOOD at other things, just that blockchains are not only limited to their function as a ledger for cryptocurrency transactions. It's a completely unimportant distinction for most of the discussion here, but in the context of AWS hiring for a "blockchain" expert as opposed to a "cryptocurrency" expert, it's important. It highlights that actually they're more interested in the immutable cryptographically signed ledger side of things than the Bitcoin side of things. And that can be achieved in incredibly efficient ways with old tech like others have said (AWS for example would just use private keys for signing rather than proof of work, the decentralisation doesn't actually matter for basically all potential applications of blockchains). In other words there was no reason for anyone to assume this was crypto related at all, but of course they all did and lol. Here we are.
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Jul 29, 2021 11:20
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I will give Blockchain this one positive. If it were not for the publicly accessible transactions that anyone and everyone can view, you would not have the wonderful investigations of scamcoins by the likes of Coffeezilla. Of course, if Blockchain didn't exist, we wouldn't have those scamcoins in the first place.
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Jul 29, 2021 11:35
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Blockchains don't intrinsically need to be public nor absorb an entire country worth of electricity. This is something unique to the cryptocurrency obsession that insists on decentralizing the blockchain through various high energy usage approaches. They're still stupid just in a different way. In other news, this is good for Bitcoin: New ASIC chair Joseph Longo warns about unregulated cryptocurrency trading and other economic threats to pandemic recovery ASIC is Australia's SEC basically putin is a cunt fucked around with this message at 11:45 on Jul 29, 2021 |
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Jul 29, 2021 11:42
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Oh I thought it was a mining contraption.
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Jul 29, 2021 12:18
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Tsietisin posted:I will give Blockchain this one positive. yeah I got introduced to those vids here and I really liked his vids in those gaming influencer serial pump and dumpers. also caught from the last vid they are/were heavily utilizing Binance's "coin" to move funds into/ out of these scams and pay off each other
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Jul 29, 2021 12:23
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KinkyJohn posted:Oh I thought it was a mining contraption. For some reason, despite being Australian and hearing ASIC on a daily basis, that weird ironic coincidence never clicked haha.
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Jul 29, 2021 13:01
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