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evilweasel posted:if the US failed I'd really like to know the specifics of the scenario where the US fails to a USD=$0 point but the internet still works.
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Oct 9, 2017 14:46
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"Do not, my friends, become addicted to fiat. It will take hold of you, and you will resent its absence." ...huh, that's actually good advice.
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Oct 10, 2017 12:47
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Ham Sandwiches posted:it has been *4* days in which loving nothing happened with bitcoins. I knew transactions could take a while but goddamn.
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Oct 11, 2017 19:22
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Wait since when are consumer-grade PC's able to generate $500k in Bits? Did you pull this off? And if you didn't why not?
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Oct 11, 2017 19:55
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Ham Sandwiches posted:It seems like, every single time this thread gets active, a different genius comes out with the whole "how much money did yo make off bitcoin" burn It's not a burn, it's a legitimate question that doesn't have a wrong answer. If you didn't retire off pure bitmining profits that's OK, I didn't either.
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Oct 11, 2017 20:02
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Ham Sandwiches posted:Why do you only post the stories when people lose money then?? Why not post some where they make money? Since both happen why is it only 'funny' when you are posting the misleading crap that reinforces the narrative of them being a scam, but counterexamples are not at all funny and dubious at best? I asked for your incredible story where you are balls deep in your orifice of choice on a tropical island from your bitmining empire.
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Oct 11, 2017 20:07
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I look forward to the rebuttal to divabot's book. its loose change, if you will. loose satoshis?
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Oct 12, 2017 17:37
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Oct 12, 2017 18:38
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Uranium 235 posted:weird, violating their terms of service by circumventing laws and regulations that coinbase complies with will get your account shut down! I agree, TOS Violations costing individuals 5 figure sums is both cool and good.
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Oct 12, 2017 18:44
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Uranium 235 posted:if they're circumventing US law then yeah it is unironically cool and good If people are circumventing laws you arrest them and seize their assets formally, you don't give some random company permission to pocket people's wallets in a citizen's arrest.
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Oct 12, 2017 18:50
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Uranium 235 posted:banks routinely shut down accounts when they believe the accounts are being used criminally Yes and there's a process you can go through for dealing with that, not just a support email hole. Also when a bank does it they explicitly tell you why, not just "we're closing your account down."
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Oct 12, 2017 18:55
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fbsw posted:i started using bitcoin for microstakes poker just to see what all the fuss was about, and it's pretty great! To the moon! (shoots the moon in Hearts)
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Oct 12, 2017 19:06
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Maybe the better way of looking at "8 transactions per second" is instead what that means per day, which is 691,200 transactions worldwide per day. This effectively means that if every person alive right now has one and only one bitcoin wallet (and companies don't), they will be able to do a little under one transaction every very late EDIT I royally hosed up, that's a number for 7 million users. For the 7 billion world population, it's one transaction every 27.74 years. univbee fucked around with this message at 16:59 on Oct 14, 2017 |
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Oct 12, 2017 19:25
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Bitcoin isn't replacing any currency where cash is still a part of it, and it still very much is for massive portions of the American population (serious question: is there a single 100% cashless country out there? Or even close?), and even more massively on a world scale. It's possible in a few developed countries to go mostly cashless but generally only among the less impoverished. On a world scale there are still like one or two billion people in the world without electricity and without internet (and despite being from "poorer" countries they still have GDP's in the billions). And yeah, you need a lot more stability if you're a store or an employer. I mean how is an employer meant to calculate how many satoshis to pay you for your two weeks' pay? Does he meticulously calculate exactly how many you were worth every minute you worked? How are you meant to have any sort of forward-looking budget with that? Sure, some people more or less do this with their assets in stocks or professional gamblers but that is a relatively tiny portion of the population that can work with that or is remotely comfortable doing so.
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Oct 12, 2017 19:56
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FogHelmut posted:There were 65 ICOs a week in September. Speaking of 65...well, 66 https://en.bitcoin.it/wiki/Category:Defunct_exchanges
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Oct 12, 2017 20:55
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Oct 12, 2017 21:19
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Ham Sandwitch posted:What about the U.S. dollar? The U.S. dollar value never went higher than one U.S. dollar. Checkmate. 
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Oct 13, 2017 18:38
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"Please don't try to manipulate me into doing stuff differently", he said, while trying to manipulate others into doing stuff differently.
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Oct 13, 2017 18:41
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Dude you care way too much about other people's opinions about an unstoppable technology. Just enjoy the fact that there less people out there hoarding bitcoins and get in on that poo poo if you want, drat.
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Oct 13, 2017 18:46
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Be free, ham post
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Oct 13, 2017 18:52
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What if us making fun of Bitcoin is what makes its value go up? I mean we've been making fun of it for years, it's been going up for years...it's like the bizarro version of a kid's movie ending, "not believing" gives it its strength, and if we start believing that'll be the instigating action to the whole thing collapsing.
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Oct 13, 2017 18:54
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Ham Sandwitch posted:with unique and important utility. In laffs, sure.
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Oct 13, 2017 18:57
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Ham Sandwitch posted:im lolling here because im 99% sure im way richer than you and its 100% because of bitcoin. I'm 99% sure you're way richer than me too.
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Oct 13, 2017 19:03
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Ham Sandwiches posted:How about Fidelity's CEO: My god, $11USD.
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Oct 13, 2017 19:12
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Ham Sandwiches posted:Ok I'm gonna bring up the fact that you wouldn't talk about your holdings the next time you decide to be clever and ask me about mine! Paladinus posted:If I were to cash them out, it'd be equivalent to ~$6,000.
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Oct 13, 2017 19:33
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Please tell me how to make my core i7 with a 1080Ti ensure I never have to work again and live the dream of getting paid to roll coal and rubes.
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Oct 13, 2017 19:47
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mojo1701a posted:I finally found a "Bitcoin accepted here" sign in my podunk town in SW Ontario. What do I do? What kind of store is it? Do you think you could cash out 9 million dollars there somehow? Also just a heads-up that Coinbase no longer handles CAD.
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Oct 13, 2017 19:52
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So it's like an ATM in the middle of a barren area like those vending machines in the middle of Japanese forests or what?
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Oct 13, 2017 19:59
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I live in a University town and looked up my ATM options. Closest one is Dan's Pizzeria, a brisk 11-hour drive away.  I literally have to change time zones to hit up an ATM.Ham Sandwiches posted:The Skeevy Bitcoin ATM - watch out for psychopaths and con artists Once you pop you can't stop. Oh hey, they have Pringles too!
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Oct 13, 2017 20:18
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And will Prester Jane's dad make amends for swindling Ham with Bitcoin?
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Oct 13, 2017 22:03
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univbee posted:Maybe the better way of looking at "8 transactions per second" is instead what that means per day, which is 691,200 transactions worldwide per day. This effectively means that if every person alive right now has one and only one bitcoin wallet (and companies don't), they will be able to do a little under one transaction every 10 days. What the gently caress I totally dropped a lot of 0's here, been doing way too many filesize calculations lately and hosed up. That earlier "once every 10 days" calculation was for 7 million users, not 7 billion. If every person alive now handled bitcoin, they could do a single transaction every 27.74 years. poo poo even if you limited Bitcoin just to people who explicitly voted for the Libertarian party in the 2016 election that's still 4.5 million people, 1 transaction a week for them. And reminder that 8 transactions per second is actually well above what's possible, for real numbers, double all times.
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Oct 14, 2017 16:58
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Uranium 235 posted:Why do you assume that the Chinese want USD and not yuan? When he said "they want USD" he meant "they want their money outside of China", and usually when they want it outside of China this means "in the United States", which generally uses USD and not Yuan.
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Oct 14, 2017 20:21
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Why the gently caress do you think the law that Bitcoin laundering is circumventing exists?! Huge sums of money and people pour out of China constantly (and yes, a country of a billion people does also have a substantial number of people who are content staying put). It's been happening for so long America's first anti-immigration laws were targeting Chinese people specifically, and it's also a big part of the reason why so few can afford houses in places like San Francisco and Vancouver now. The Chinese people getting their assets out of China might not even know all that much about Bitcoin and just be using a service which has people doing the backend steps, with all they see or care about being "spend Yuan in China, get USD in America, no export controls". The creamy Bitcoin middle they don't know or care about, and if they do their only interest in it is getting it into the normal US financial system, they're not holding.
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Oct 14, 2017 20:54
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Just remember if Bitcoin crashes and you aren't sure of how to buy drugs afterwards, always remember
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Oct 15, 2017 00:17
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gary oldmans diary posted:have you seen anyone say "blockchain is a scam"? divabot's book has a detailed answer to this. It's a buzzword plenty of shysters are leveraging when attempting to sell a product as a business solution and rarely has a legitimate usage for the business/product in question (i.e. blockchain technology isn't bringing them any advantages they don't already have with a centralized database system).
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Oct 16, 2017 17:49
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https://twitter.com/Coinpricetrack/status/919971630482317312
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Oct 16, 2017 18:12
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Mr.Radar posted:This presentation recently popped up on the front page of HN thoroughly debunking most of the claims from Bitcoiners on why Bitcoin is better than "fiat" currencies.
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Oct 17, 2017 16:53
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Minimalist Program posted:Ya also update: I'm down 4 dollars today after being up 100 yesterday. As in you're down 4 dollars from when you started? Or do you mean "down 4 dollars from yesterday" (96 dollars ahead of when you started)?
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Oct 18, 2017 12:37
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