Hammerite posted:

kw0134 posted:

People are losing their poo poo because their favorite brand of ice cream isn't in the freezer because of COVID-related supply chain shocks, but total economic collapse will surely not inconvenience the new lords of the universe with their buttcoin holdings.

Dewgy posted:

It’s like when I met a silver hoarder and he was absolutely mystified that I’d suggest someone in an economic collapse could just shoot him and take his silver. Had zero response, refused to even acknowledge that it was a possibility.

Gutcruncher posted:

We should really creat physical tokens and paper certificates to represent the wealth we have in various cryptos. Just in case anything happens to the blockchain smart ledger we have these things to prove our ownership and exchange with each other

Gutcruncher posted:

We should really creat physical tokens and paper certificates to represent the wealth we have in various cryptos. Just in case anything happens to the blockchain smart ledger we have these things to prove our ownership and exchange with each other

KrunkMcGrunk posted:

things now are neither the worst nor the best. they are in the middle, and both sides have a point

priznat posted:

https://twitter.com/AFP/status/1486051087736094729

The old guard is scared! (scared that this will destabilize a country causing chaos)

ELTON JOHN posted:

tango alpha delta posted:

lol, all it would take is one EMP detonation to destroy ALL the bitcoin wealth on the planet.

hell, a single mobile Stingray would render all local coiners totally destitute.

e:in a real apocalypse, drinkable water will be far, far more valuable than some stupid loving digital coin.

Illuminti posted:

What's the range? I mean I assume some of the whales are known and finding out their addresses would be trivial. Could some beautiful bastard get on the pavement outside their house and wipe the wallet?

Strong Sauce posted:

So I've been reading about how those monkeys got stolen from the original buyer's account on Opensea

1. When you signup on Opensea to sell your NFT, (or buy a NFT), you give Opensea the ability to control the NFT. Opensea can move your NFT's ownership to another person but they won't do it unless they have proof.

2. You list your item for <X> ETH, and to save on Gas fees instead of adding something to the blockchain, you generate a message that says, "I want to sell this for <X> ETH", you encrypt with your private key, give it to Opensea to store. Opensea does not put this on the actual blockchain, it just stores it in one of it's centralized databases.

3. Someone comes along and wants your NFT. He looks at how much Opensea is listing it for (based on the generated message) and tells Opensea, "Okay I want this, here's <X> ETH. The buyer also sends OpenSea the message as proof that you want to sell it for <X> ETH. First OpenSea checks to make sure you still own it by comparing the wallet address of the person who created the sale, then it transfers the ownership of it to the buyer after verification.

4. But let's say you actually wanted to list the NFT at <X+10> ETH. You can't just tell OpenSea to delete it from their central database that stores this. Because this message was available publicly, anyone who saved this message can just go to step #3 and tell OpenSea to allow him to buy it for <X> ETH because he has a signed message from you saying to sell it at that price.

So what you need to do is make a transaction on the actual Ethereum blockchain saying, "This message I wrote about the price. Please never sell it based off this message" and poof that message is blacklisted and now you're free to relist your NFT at <X+10> ETH. So you go through the steps again to do that, now you have an NFT that's available for <X+10> ETH.

5. But it costs money to cancel the original <X> ETH sale. So to save on Gas fees, users figured out that if they move the NFT out of their wallet, OpenSea no longer sees that the NFT belongs to you. The message is tied to your wallet address so if it no longer matches OpenSea just assumes you sold it or moved it out of that wallet and removes that listing from their site. After the owner of the NFT sees that OpenSea removed their original listing, he believes he's free to relist the NFT.

6. The problem is that most people transfer the NFT back to their original wallet after they did the trick in #5. They generate a new message and list their monkey for <X+10> ETH and then wait for the next sucker.

7. The issue is the older message about selling for <X> ETH still exists in Opensea's database and is still valid. Apparently the hacker used their API or just scraped the website for these older signed messages. Once the hacker found those, he took that message to Opensea and basically said, "This guy wants to sell it for <X> ETH, here's the message that proves this was the price he wanted to sell at." Opensea looks at the message, verifies that you signed it, then also verifies that the wallet address is the same as when you originally signed the message. All of it checks out and Opensea sends the monkey to its new owner.

repiv posted:

yeah you can visually fake it pretty easily

real hexagon pfps bring up the NFT information when you click on them though, so anyone who cares can tell it's fake

busalover posted:

Can't wait for ape candles with vagina smells.

ekuNNN posted:

Hello Sailor posted:

I wonder if the true believers in crypto have their own version of Roko's basilisk, where they get punished by the blockchain for not buying in at the start on the coin/NFT which winds up reigning supreme after the collapse of fiat money.

Random Stranger posted:

It has occurred to me that crypto has the same problem that all utopian schemes do: what happens when someone says no? "It's so obviously great that no one will say no!" isn't an answer.

I tried to come up with a scenario here for the outsiders in the glorious crypto future and I couldn't because the obvious response would be to set up a shadow economy and that shadow economy would work better than crypto even if it was a weird splice of bronze age bartering and modern computers. A better economic system would immediately overrun crypto unless they start using violence to shut down anyone trading gold certificates for beans. Even though the whole thing would be significantly worse than today, but it's impossible for me to conceive of a world where crypto doesn't implode on itself.

quote:

BISMARCK — North Dakota Gov. Doug Burgum and two cryptocurrency companies unveiled plans Wednesday, Jan. 26, for a massive data center outside Williston, a $1.9 billion project that developers said will be among the largest standalone, high-performance computing facilities in the world.
The data center is being constructed by Montana-based FX Solutions and will be owned and operated by Atlas Power, also of Montana. Executives from the companies laid out plans to construct the facility in three phases, with the first stage drawing on 240-megawatts of electricity — more energy than is needed to power the city of Fargo — and eventually ramping up to a powerhouse 700-megawatt scale.
“This is a major investment that's occurring,” Burgum said during an announcement event at the Mountrail-Williams Electric Cooperative headquarters in Williston. The second-term Republican and former software executive touted the high performance computing industry's potential to diversify western North Dakota's boom-and-bust oil economy and said the project would “further cement North Dakota's growing reputation as a global hub for data centers.”
In its first phase, the Atlas Power data center is expected to perform a host of energy-intensive jobs, Burgum spokesman Mike Nowatzki said, with about 65% of resources dedicated to mining cryptocurrency. The remaining energy would be used for data storage, machine learning and artificial intelligence tasks, among other things, Nowatzki said.
Sixteen buildings, each the length of a football field, will hold the computing systems in the project’s initial phase, with site work for the facilities already underway on 77 acres west of Williston. FX Solutions president Richard Tabish said he expects to have phase one completed by the end of 2022, and to achieve the 700-megawatt scale within two years.Atlas Power was founded by Kevin Washington, the son of Montana billionaire Dennis Washington. The company currently operates a 75-megawatt data center in Butte, Montana.

Tabish said the two companies chose North Dakota for their project partly because of how quickly they would be able to bring the data center to completion here.

Data centers have sprouted up rapidly around the world in recent years, spurred by the growing demand for cloud computing and cryptocurrency transactions.

Developers have also set their sights on North Dakota as a location for new data centers in part because the state’s frigid winters help with the cooling processes needed to keep hardware from overheating. Smaller projects are underway in Jamestown and Grand Forks, while Rainbow Energy, the buyer of Coal Creek Station, has publicized plans to add a data center near North Dakota’s largest coal plant. The company has not disclosed specifics about the size or computing purposes of that facility.

Data centers require around-the-clock power, making them highly energy intensive and reliant on 24/7 resources like coal and natural gas. Cryptocurrency operations, in particular, have drawn criticism from environmentalists who see the process as feeding fossil fuel generation and unnecessarily driving planet-warming greenhouse gas emissions.

While the data center sector is nascent in North Dakota, the industry has clustered in a handful of locations around the country, including northern Virginia, Silicon Valley and Dallas. A September report from the commercial real estate firm CBRE found that northern Virginia has the country's largest inventory of data centers, at over 1,500 megawatts.

FX Solutions and Atlas Power said their project would create around 100 temporary construction jobs and support 30 employees on site over the long-term.

ELTON JOHN posted:

Parkingtigers posted:

https://twitter.com/GwynethPaltrow/status/1486482496883625984?s=20

Though honestly, the only surprise is she wasn't the first celeb they suckered in.

mkvltra posted:

Lol who is that guy

Parkingtigers posted:

https://twitter.com/GwynethPaltrow/status/1486482496883625984?s=20

Though honestly, the only surprise is she wasn't the first celeb they suckered in.

Paladinus posted:

You can take your NFT and stick it up your- oh, you've done that already, huh?

Phuzun posted:

North Dakota getting ready to get grifted. What a stupid way to diversify the state economy. And they will be using a coal power plant.

https://www.inforum.com/business/large-scale-crypto-mining-data-center-planned-for-western-north-dakota-oil-patch