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a misanthrope
Jun 21, 2010
Probation
Can't post for 3782 days!



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Professor Shark
May 22, 2012



Pillbug

JazzFlight posted:

And people in the comments aren't even denying the problems, they're pathetically attacking him for "talking poo poo about his ex-employer."

Yeah from what I remember the Bitcoin community gets very upset if someone speaks negatively about a bad transaction or business. Despite professing to be Libertarians, they seem to hate everything about Libertarianism, like reputation and unrestricted information.

Gorilla Salad
Sep 22, 2003

One Potato to rule them all,
One Potato to find them,
One Potato to bring them all
And in the darkness bind them.




Bread Liar

Serrath posted:

Story + question about bitcoins:

I know everyone's weighed in on this, but I'd like to add a very simple alternative which is less likely to get her killed by her unhinged boyfriend:

Tell her to transfer enough bitcoins to her own private, secure wallet to cover the debt and leave everything else alone.

That way, she's not spending the coins, they're still there for the boyfriend to collect when he pays her back* and if he flakes, then she has a chance to get her money back.


Of course, this depends on the boyfriend having done things properly and not simply scammed her by taking six thousand dollars of her money and only pretended to set up a wallet for her which is the most likely scenario.








* Cue uproarious laughter.

Professor Shark
May 22, 2012



Pillbug

Wait why didn't he just attempt to cash out the coins in the first place? Jesus Christ what a bad decision she made.

JazzFlight
Apr 29, 2006

Oooooooooooh!



Gorilla Salad posted:

I know everyone's weighed in on this, but I'd like to add a very simple alternative which is less likely to get her killed by her unhinged boyfriend:

Tell her to transfer enough bitcoins to her own private, secure wallet to cover the debt and leave everything else alone.

That way, she's not spending the coins, they're still there for the boyfriend to collect when he pays her back* and if he flakes, then she has a chance to get her money back.


Of course, this depends on the boyfriend having done things properly and not simply scammed her by taking six thousand dollars of her money and only pretended to set up a wallet for her which is the most likely scenario.








* Cue uproarious laughter.
I'd still love to see this potential financial argument brought to Judge Judy to hear her take on it.

dad gay. so what
Feb 18, 2003

by FactsAreUseless


in my research i have found that anyone who even knows what bitcoins are is severly mentally ill

Gorilla Salad
Sep 22, 2003

One Potato to rule them all,
One Potato to find them,
One Potato to bring them all
And in the darkness bind them.




Bread Liar

Professor Shark posted:

Wait why didn't he just attempt to cash out the coins in the first place? Jesus Christ what a bad decision she made.

No you don't understand man, one day soon the like ENTIRE WORLD will be using bitcoins instead of fiat money.

On that day, each bitcoin will be worth ten billion dollars! If he cashes out now, he'll never be rich, even if he has to eat garbage today and steal from his doctor girlfriend.

Professor Shark
May 22, 2012



Pillbug

So she isn't able to cash them out herself and she's going to be waiting at least 4 years before he starts making payments on his most likely interest free loan of $6k... that guy totally scammed her, Bitcoin style

Rubellavator
Aug 16, 2007


that guy scamming his girlfriend out of $6k is probably the most legitimate cash/bitcoin exchange ever.

Chef Boyardeez Nuts
Sep 9, 2011


happyhippy posted:

gently caress its still around the $350 mark.

Good days though in the last thread, reading guys who spent their life savings when it was $900+.

Has there been many MTGOX like shennigans over the last year or two?

So if I bought 50 of these back when we were first making fun of them for like $60, how do I collect my winnings?

Rasta_Al
Jul 14, 2001

she had tiny Italian boobs.
Well that's my story.


Fun Shoe

I still can't imagine how anyone believes that these things are worth anything.

One day, I began to read an article about how they work, but I'm not a big fan of fairytales.

Rasta_Al fucked around with this message at Jan 18, 2016 around 16:00

Ivor Biggun
Apr 30, 2003

A big "Fuck You!" from the Keyhole nebula



Lipstick Apathy

Professor Shark posted:

So she isn't able to cash them out herself and she's going to be waiting at least 4 years before he starts making payments on his most likely interest free loan of $6k... that guy totally scammed her, Bitcoin style

Assuming he makes it through his first year without failing anything he's probably going to want another $6k for the next years tuition. And every subsequent year after that until he gives up or graduates.

Mad Doctor Cthulhu
Mar 3, 2008

PH.D IN DARKNESS, M.A. IN MADNESS, B.A. IN TERROR (with a minor in Women's Studies)

Professor Shark posted:

Wait why didn't he just attempt to cash out the coins in the first place? Jesus Christ what a bad decision she made.

Exactly. Or why not just get a freaking student loan to cover this and then pay it back once your bitcoins rise in value? Or even putting some of your bitcoin aside in order to fund your college education if it's a big enough deal to start stalking someone over? Especially if they're going to be a jerk to you after you hand them six loving grand?!

That woman needs to run and quick.

Ivor Biggun posted:

Assuming he makes it through his first year without failing anything he's probably going to want another $6k for the next years tuition. And every subsequent year after that until he gives up or graduates.

Even more reason to get out now. If he can't even take out a loan for this and then pay it off with his future bitcoin 'earnings' (ha ha) then he's an imbecile. Then again, he's probably doing a long con on her regardless.

Ivor Biggun
Apr 30, 2003

A big "Fuck You!" from the Keyhole nebula



Lipstick Apathy

Subterfrugal posted:

So if I bought 50 of these back when we were first making fun of them for like $60, how do I collect my winnings?

1) Find a bitcoin scammer
2) Give them all your bitcoins
3) up Up UP!

Professor Shark
May 22, 2012



Pillbug

Yeah, if she's a doctor she can probably not worry about the $6k, but you're Ivan's right that $6k is just the start

dad gay. so what
Feb 18, 2003

by FactsAreUseless


lol you guys are mentally ill

OXBALLS DOT COM
Sep 11, 2005
Probation
Can't post for 19 days!


Buglord

What is with all the woman doctors ending up with loser guys? Let me guess the guy is white and the girl isnt

Blue Train
Jun 17, 2012

Have I posted "Death to America" in this thread yet?

Mange Mite posted:

What is with all the woman doctors ending up with loser guys? Let me guess the guy is white and the girl isnt

doctors make bad decisions because they think they are too smart to gently caress up by virtue of having become a doctor

Mad Doctor Cthulhu
Mar 3, 2008

PH.D IN DARKNESS, M.A. IN MADNESS, B.A. IN TERROR (with a minor in Women's Studies)

Given how long it takes to become a doctor, might be a case of 'life spent studying at school and not dealing with shady fuckers looking for a free ride.' Explains the whole 'he makes me feel free' reason given earlier in the thread. Of course, anything could make anybody feel free if their life from eighteen to their thirties was nonstop studying and work.

Blue Train
Jun 17, 2012

Have I posted "Death to America" in this thread yet?

Blue Train posted:

doctors make bad decisions because they think they are too smart to gently caress up by virtue of having become a doctor

alternatively, they become doctors to help broken people and that is reflected in their interpersonal relationships as well

poverty goat
Feb 15, 2004

Let me tell you a thing or two about GhostCoin

bitcoin is a drugs-backed currency. it's better than the gold standard because demand for drugs will only go up, especially when the real money economy is in the toilet (and nobody really goes back to using less drugs when things get better again)

imo we should abolish bitcoins and move the dollar to the drugs standard

Rambling Robot
Sep 13, 2011
Duggar Fan Club Superstar #1 LOL

argondamn posted:

that guy scamming his girlfriend out of $6k is probably the most legitimate cash/bitcoin exchange ever.

he's teaching her a valuable (in bitcoins) life lesson.

Onkel Hedwig
Jun 27, 2007



Serrath posted:

Story + question about bitcoins:

I have a friend who has been dating a new partner for about 4 months. My friend has a good job and savings of about $40 or $50k. Her partner wanted to return to university but lacked the means to pay and he asked if he could borrow tuition for a year (about $6000). My friend wasn't comfortable loaning that sort of money for a 4 month old relationship causing her boyfriend to offer to give her $6000USD worth of bitcoins as collateral for the loan.

My friend isn't that computer savvy and didn't know what a Bitcoin was so her partner set about studiously showing her magazine articles, pages printed from webpages, graphs showing their value over time and gave assurance after assurance that bitcoins were a real thing. She was still worried and, in the middle of an argument, her partner promised her his entire Bitcoin fortune (worth about $15,000 USD) as collateral for the $6000 loan. Wanting to avoid a longer argument she said yes and he set about putting the bitcoins in her name.

Since then, he's been needling her and making snide, passive aggressive comments about how she's holding onto his entire retirement savings and making allusions about how unfair it was that he had to turn over $15,000 (which is apparently worth $18,000 now) in exchange for a "mere" $6,000

Anyway she's sick of it and wants to cash out $6,000 worth of bitcoins so she can settle the loan and then send him back the remaining bitcoins so this doesn't keep coming between them. Except she doesn't know how to convert her Bitcoin fortune into real money and asked me to help her.

My question is, how screwed is she?

I love stories like this where Bitcoins turn a situation from bad to worse.

Please more like that!

revmoo
May 25, 2006

Reverend Moo

Cashed out something like 8k back when btc was at its high mark. Not bad for running a little background app on an iMac. Btw bitcoinstore was legit believe it or not. They even exchanged a defective monitor for me.

ArmZ
Jun 5, 2004

You are what you want.





Grimey Drawer

lolbertarians.txt

quote:

He had frequently allowed discussion of outright criminal activity on the forums he controlled, on the grounds of freedom of speech. But when XT launched, he made a surprising decision. XT, he claimed, did not represent the “developer consensus” and was therefore not really Bitcoin. Voting was an abomination, he said, because:
“One of the great things about Bitcoin is its lack of democracy”
So he decided to do whatever it took to kill XT completely, starting with censorship of Bitcoin’s primary communication channels: any post that mentioned the words “Bitcoin XT” was erased from the discussion forums he controlled, XT could not be mentioned or linked to from anywhere on the official bitcoin.org website and, of course, anyone attempting to point users to other uncensored forums was also banned.

Onkel Hedwig
Jun 27, 2007



Nirvikalpa posted:

The real question is, can you still buy drugs?

As far as I know after Silk Road went under one of the other market places became the new number one, and business is pretty much back to normal.

Parallax Scroll
Nov 13, 2009

spiderman

BUTT coins lmaooo

Pittsburgh Lambic
Feb 16, 2011

Just when the GEO Pandemic was thought to be no more, it returned -- this time not as a modified strain of flu, but as a vast, unstoppable tide of infected green sea turtles. Once a beloved GEO landmark species, these hard-shelled aquatic killers were now the harbingers of World War G.




GrimGypsy posted:

I think I know the answer to this, but is there any way for them to hit some giant reset button to revert back to a time when mining didn't require a small nation's electricity supply and an investment suitable to open your own restaurant?

Not really. The issue with bitcoin mining is that it works kind of like a lottery. There's a "prize" -- currently 25 newly-minted bitcoins -- for every new block of transactions that gets created and added to the central record chain. All transaction fees in the block also go to the miner who created the block. Blocks aren't actually that hard to create in terms of processing power, but before a block can be submitted the miner has to find a magic number that results in a specific value when hashed together with the block. The difficulty of finding this magic number is periodically adjusted to keep the creation of blocks -- and the mining of new coins -- at a rate of about one every ten minutes.

If there are, say, ten thousand mining GPUs on the network, difficulty is adjusted automatically to ensure that on average one of these mining GPUs will create a block and claim the reward every ten minutes, so every GPU has a one-ten-thousandth chance of getting the 25 BTC. If some insane man fires up a gigantic mining rig capable of doing the work of 90,000 GPUs on its own, new blocks will be created much faster, but the network will soon raise the difficulty of creating blocks to bring the rate back down to one every ten minutes. This means that everybody except the insane man with the giant mining rig is suddenly getting new bitcoins a tenth as often. The more expensive bitcoins get, the more people are attracted to the prospect of making big bucks by putting up a huge datacenter and filling it with mining rigs, and the more difficult bitcoin mining becomes -- until the chances an individual miner has of ever mining any bitcoins are basically nil. This has already happened. The article linked in the OP mentioned that 95% of bitcoin mining is controlled by a group of people that looks like this:



Everybody else is poo poo out of luck.

The only reason these people are mining bitcoins so aggressively is that each new set of 25 BTC can be sold for $10,000-ish. Mining difficulty will only go down once the price of bitcoin lowers to the point that it's not worth it to mine them anymore.

Germstore
Oct 17, 2012

A Serious Candidate For a Serious Time



I for one am glad there are entrepreneurs willing to put in the hard work to turn electricity into waste heat and nonsense.

Zeroisanumber
Oct 23, 2010



Pillbug

Subterfrugal posted:

So if I bought 50 of these back when we were first making fun of them for like $60, how do I collect my winnings?

Apparently, you invest in Philadelphia real estate in a way that's so alarmingly stupid that I can't believe that it wasn't a script written by Charlie Day.

LethalGeek
Nov 4, 2009

The ducks can be ferocious fighters, especially against the undead. There are many holy warriors of Humakt among them.

Soiled Meat

Subterfrugal posted:

So if I bought 50 of these back when we were first making fun of them for like $60, how do I collect my winnings?
You do a huge dice roll in picking an exchange that won't fold trying to get your cash out. The newest big one just halted everything cause they had 150k bitcoin stolen from them after some "developer" told them to update their servers with this code of his that was an IRC backdoor that they used to steal everything not nailed down. This is how every exchange so far as gone.

Oh and then you hope your bank doesn't get really mad about you suddenly depositing money from a bitcoin exchange, as people get their poo poo shut down all the time. Not because banks are afraid of dunning-krogerands but because historically such customers are more trouble than their worth. Lolbertarians being who they are and all that.

oh, or you find someone on localbitcoin and hope they don't stab you

my morning jackass
Aug 24, 2009


Professor Shark posted:

Yeah from what I remember the Bitcoin community gets very upset if someone speaks negatively about a bad transaction or business. Despite professing to be Libertarians, they seem to hate everything about Libertarianism, like reputation and unrestricted information.

turns out a political and economic ideology that relies on "rational actors" struggles when individuals are put under any sense of duress and are unable to act rationally.

who would have thought?

City of Tampa
May 6, 2007

by zen death robot


I just want to find someone in Colorado or California who will mail me weed in exchange for paypal, why do I need to get TOR and go on usenet or whatever?

just put the weed in a box and mail it to me. I'll say they are CDs or golf balls to paypal

Maoist Pussy
Feb 11, 2014

by Lowtax


Mange Mite posted:

What is with all the woman doctors ending up with loser guys? Let me guess the guy is white and the girl isnt

Dorks with no social skills get taken by attractive lovers, regardless of gender.

Maoist Pussy
Feb 11, 2014

by Lowtax


How do I buy a bitcoin and how do I know it is real when I buy it

Also, how many bitcoins do I need to buy cocaine

Germstore
Oct 17, 2012

A Serious Candidate For a Serious Time


Maoist Pussy posted:

How do I buy a bitcoin and how do I know it is real when I buy it

Also, how many bitcoins do I need to buy cocaine

It's hard to say, cocaine and bitcoins are very similar in that the 'street value' is entirely made up.

Dr Cheeto
Mar 2, 2013


Wretched Harp

Cocaine is good for something so it's not at all like buttcoins

bollig
Apr 7, 2006

Never Forget.


I have two favorite Bitcoin memories:

1) The kid who dumped liquid nitrogen into his room to supercharge his bitcoin mines.

2) There was some 4 part article about a guy who just somehow came into some bitcoins and decided that he wanted to redeem them. He had a set of well reasoned rules. Like he wouldn't give anyone his SSN and stuff like that. So he's trying to sell them locally and someone comes up to him and tries to exchange 'a garbage bag full of gift certificate cards'. When our hero was like 'absolutely not' the garbage bag guy was just like 'just trust me bro.'

OXBALLS DOT COM
Sep 11, 2005
Probation
Can't post for 19 days!


Buglord

I still l8 ke the guy who got heat stroke and ended up with brain damage from leaving his mining rig on in his room.

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Strategic Tea
Sep 1, 2012

Those are my runes.
Give them back.
You are a dog.
They don't even fit.


So let me get this right you can have dirty fiat backed by the military and industrial might of a superpower or you can have bitcoins backed by the ability to perform completely pointless calculations?

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