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Computer Serf
May 14, 2005
Buglord

Comfy Fleece Sweater posted:

I honestly think a bunch of posters in SA kept the FUD about bitcoin to make more profits themselves.

Like I get if you kept your mouth shut during these times and didn't share how you were making money, but I suspect a bunch of goons of actively scaring others away




The dogecoiners were right all along.. to the moon!!!!!!

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Computer Serf
May 14, 2005
Buglord
If you think bitcoin is going to be worthless you can actually bet against it though margin trading so...

Computer Serf
May 14, 2005
Buglord

LethalGeek posted:

Anyone who tries to tell me the blockchain is useful for something in computing could just tell me they're an idiot, cause it really is one in the same.

Looks like blockchain technology smart tokens are pretty useful for generating money out of some buzzwords and video cards?

Maybe smart people are better off playing video games :confused:

Computer Serf
May 14, 2005
Buglord
what if uh, what if someone just makes a lot more cyber coins so everyone can have some

it's just data :ssh:

Computer Serf
May 14, 2005
Buglord
digital dollars

AKA digidoos






colloquially, dollarydooz

Computer Serf
May 14, 2005
Buglord
bitpogs
cyberbabies

Computer Serf
May 14, 2005
Buglord
a number on some internet messaging database thing with like a networked space heater based token coin signature dish

Computer Serf
May 14, 2005
Buglord

Ham Sandwiches posted:

https://www.cnbc.com/2017/09/29/bitcoin-exchanges-officially-recognized-by-japan.html

The thing is that Bitcoin could very easily reach a point where a handful of nation states find it useful to allow transactions in the Bitcoin format, and you don't know the future more than anyone else, so telling people to avoid entirely or that you know it will never amount to anything is loving dumb dude

why would anyone choose your old antiquated and obsolete cryptopog versus the better version that is not your old grandpacoin that's slow as gently caress and lacks cool features

Computer Serf
May 14, 2005
Buglord
It's funny that bitcoiners just straight up ignore how easily replaceable any particular cryptocoin network is.

Ah yes yes, limited edition pogs this rare thing denotes value because the supply is limited hmm if I buy now, market demand in the future will be in my favor.

*bitcoin forks into 7 active networks* yes all of these are valuable!

*new altcoin network spawns everyday*

rare collectors edition, gotta catch em all Cryptomóns

Computer Serf
May 14, 2005
Buglord

evilweasel posted:

its like people investing in beenie babies based on their rarity despite the fact they were making like a million a month, just with some colors changed

Funny too how production costs were so minimal at the start of the project, like you could run grandmas e-machine to mint thousands of coins and now you have to run some hal-9000 ASIC in a mining pool to get a few satoshis tossed your way.

Satoshi's economic model is to reward the largest supply of coins for the least effort? :thunk:

Computer Serf
May 14, 2005
Buglord

Ham Sandwiches posted:

Well I can't carry around my 5 million dollars of Gold with me, it's too heavy. I can't take my gold to Target. That means Gold is useless.

When will Gold be useful? When I take my 5 million dollar balance and go to target and buy a candy bar with it!

ok but what happens when the masses are informed they're just trading database pogs which arn't actually rare, which is why people are speculating on the collectors edition aspect

Computer Serf
May 14, 2005
Buglord

Computer Serf posted:

Funny too how production costs were so minimal at the start of the project, like you could run grandmas e-machine to mint thousands of coins and now you have to run some hal-9000 ASIC in a mining pool to get a few satoshis tossed your way.
Satoshi's economic model is to reward the largest supply of coins for the least effort? :thunk:

:popeye:

:eng101: the fundamentals

  • make a rube goldberg machine spit out a few internet pogs with serial code tags numbered 1 - 21
  • take half the the numbers for no effort because you designed the system that way
  • make it so the other half of the numbers take 30 years to be distributed and also require the electrical input of entire nations
  • make some crazy claims as to why the serial tags are useful
  • sell the serial tags for more than it cost you to produce them to some rube who has no idea how the system works
  • ???
  • oops the limited supply has inflated by 400% over 6 months and now there are several hundred other producers of internet pogs but like they're rare right so better buy now because it's what the plants crave

Computer Serf
May 14, 2005
Buglord

COMRADES posted:

Tbh it's all about DogeCoin now.

The funny part is dogecoin outpreforms bitcoin because someone just slightly modified the source code and launched a new blokechain meanwhile a bunch of the bitcoin core devs work for some company that's profiting off of keeping bitcoin slow to build the lightning contraption sideblockchain channel network for going to the moon

Computer Serf
May 14, 2005
Buglord
ok real talk so some old as gently caress grandpa guy at the super market looked at me and must of immediately recognized how young and smart i am and he was like

:corsair: hey do you understand the bitcoins
:dukedoge: smh ya it's a highly efficient hype machine
:corsair: i tried looking up what the gently caress how it works and i couldn't figure it out

:dukedoge: *throws a copy of attack of the blockchain the book at grandpa mcConfusedalots before kickfliping into a 960 darkslide out of the megaMarket*

Computer Serf
May 14, 2005
Buglord
what's up with bitscoins options?

is there any way to get puts/calls on bitscoin other than ledger x or GBTC?

:bandwagon:

Computer Serf
May 14, 2005
Buglord
weird that you need 10 million fiat dollars to actually get options through the regulated market, but the unregulated exchanges can front run or wash trade and its nbd :cheers:

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Computer Serf
May 14, 2005
Buglord
what if we tokenize the poor people and make them mine actual commodities like food but then the you have to use foodcoins to buy the food blocks

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