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Paladinus
Jan 11, 2014



amotea posted:

Can you cancel a transaction to unfuck yourself when e.g. you've accidentally tried to transfer all your funds with 0 fee?

What next? Chargebacks? This is actually extremely good that you can't cancel your transaction.

My question is is it theretically possible to pay miners so they DON'T approve your transaction?

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Comfy Fleece Sweater
Apr 2, 2013

FOUNDER AND PRESIDENT OF THE KUATO FAN CLUB 4/2/13-PRESENT

KUATO IS MY HERO! AMA!


Waltzing Along posted:

How many cryptocurrencies are there? Can more than one survive? Is Ethereum the new bitcoin?

I think we should make gooncoins. If we all jump in on the ground floor we can cash out once the real morons jump in.

poo poo man you can make a GBSCoin in 10 minutes

Rock Puncher
Jul 26, 2014

Some asshole cost me $5 because I'm an idiot.

What would happen if we all started transferring each other measly sums of .00000001 bitcoin for free? Could we automate this process? Would there be any point or are bitcoins now at a point where the demand and transaction velocity is so high that it will never catch up until it goes pear shaped?

Waltzing Along
Jun 14, 2008

Help comes when you need it most



Comfy Fleece Sweater posted:

poo poo man you can make a GBSCoin in 10 minutes

Sounds good. Let's do it. How fast can we conceivably mine these things if we just copy bitcoin?

I don't mind saving a wallet full of 100k gooncoins for 10 years and cashing out.

scott zoloft
Dec 7, 2015


Rock Puncher posted:

gently caress i still have $50 in my wallet i was going to use on the only reason bitcoins are useful


you were goingto demonstrate economic unrest?

Rock Puncher
Jul 26, 2014

Some asshole cost me $5 because I'm an idiot.

scott zoloft posted:

you were goingto demonstrate economic unrest?

woodford 2017 is coming up, so yes.

TheKingofSprings
Oct 9, 2012



scott zoloft posted:

you were goingto demonstrate economic unrest?

I think that was the Trump presidency

Communist Q
Jul 13, 2009



amotea posted:

Can you cancel a transaction to unfuck yourself when e.g. you've accidentally tried to transfer all your funds with 0 fee?

Takes like 3 days for a transaction to expire.

divabot
Jun 17, 2015

Assisted Living Dracula of Wikipedia

DO NOT BELIEVE THIS MAN'S LIE!
Statist shill spreading FUD!

HODL!!


Computer Serf posted:

The funniest part about Dogecoin is it's a superior technical evolution of Bitcoin that was made by some guy who wanted to prove how easy making cryptocoins was. And the dogecoin community was constantly making donations to charities and stuff instead of creating scams.

And scamming and raping people lots, of course.

AARO
Mar 8, 2005

by Lowtax


Stay poor nocoiners.

Rock Puncher
Jul 26, 2014

Some asshole cost me $5 because I'm an idiot.

Since November our government media has published at least 7 articles specifically about bitcoin and a bunch of others namedropping it. don't know if reptiles but fuckin straya mates obviously make great bitcoin holders

PHIZ KALIFA
Dec 21, 2011

THUNDERDOME LOSER
HAIKULIGAN

Comfy Fleece Sweater posted:

poo poo man you can make a GBSCoin in 10 minutes

less time if you hit up the indian buffet for lunch

LinYutang
Oct 12, 2016

O! beautiful for patriot dream
That sees beyond the years--
Thine alabaster cities gleam,
Undimmed by human tears!


short 👏🏾 sell 👏🏾 bitcoin

jonathan
Jul 3, 2005


AARO posted:

Stay poor nocoiners.

LoL if your skillset is so abismal that you need to gamble to make a living.

smoobles
Sep 4, 2014



A guy who I consider a massive nerd says to wait til it reaches $20,000 to sell. What do you guys think??

TheKingofSprings
Oct 9, 2012



smoobles posted:

A guy who I consider a massive nerd says to wait til it reaches $20,000 to sell. What do you guys think??

No guarantee it ever reachs that, every guarantee it's going to crash eventually.

You've already won if you can sell now

Comfy Fleece Sweater
Apr 2, 2013

FOUNDER AND PRESIDENT OF THE KUATO FAN CLUB 4/2/13-PRESENT

KUATO IS MY HERO! AMA!


smoobles posted:

A guy who I consider a massive nerd says to wait til it reaches $20,000 to sell. What do you guys think??

Maybe? we've been ignoring these idiot nerds since it was 10 dollars

One of those idiots who predicted the 6,000 price also predicted a 10k price around this time and 100,000 price after 2018

Who the gently caress knows anymore? Just don't put your life savings in it and hope you're not the last moron holding the bag

edit: The thing about Bitcoins is... it doesn't make sense. It's driven by stupidity, a lot of the price is just leveraged stupidity of us humans. So in that way, considering maybe 1% of people around the world have even heard about it, there's a lot of stupidity to be mined

Monos Bullet
Dec 6, 2016

Yea, and I say unto you, bringeth me a machiatto of caramel, with crickets on top.

Comfy Fleece Sweater posted:

poo poo man you can make a GBSCoin in 10 minutes

make a GBSCoin to save our forums. we can astroturf on twitter to get new cryptocoin investors to buy in

Powershift
Nov 23, 2009

My name's ralph and i'm a bad guy. I'm 9 feet tall, i weigh 643 pounds. I'm a wrecker, i wreck things.




smoobles posted:

A guy who I consider a massive nerd says to wait til it reaches $20,000 to sell. What do you guys think??

It's a ponzi, just buy early and sell before it collapses.

Also if it falls and then rises again, buy in the dip.

Inept
Jul 8, 2003

What?

LinYutang posted:

short 👏🏾 sell 👏🏾 bitcoin

LinYutang posted:

Except that Bitcoin Will Definitely Fail so there is no downside

Short the crypto, do it

LinYutang posted:

Put your money where your years of Buttcoin posts are and short the Definite Ponzi Scam known as bitcoin

LinYutang posted:

$10 spent shorting in an exchange won't hurt since yall are confident in the Impending Death Of Bitcoin

LinYutang posted:

Short sell bitcoin if yall think it's a bubble and gonna pop! do it!

LinYutang posted:

If people are so confident that Bitcoin Will Fail why aren't they shorting it

found the bot

Comfy Fleece Sweater
Apr 2, 2013

FOUNDER AND PRESIDENT OF THE KUATO FAN CLUB 4/2/13-PRESENT

KUATO IS MY HERO! AMA!


Monos Bullet posted:

make a GBSCoin to save our forums. we can astroturf on twitter to get new cryptocoin investors to buy in

I'll make a waves token in like 5 minutes, how about "GBS NiggaCoin" with an initial seed of 420691337 available coins

smoobles
Sep 4, 2014



Cashed out my 0.5 butts, yay

Crash motherfucker.

Comfy Fleece Sweater
Apr 2, 2013

FOUNDER AND PRESIDENT OF THE KUATO FAN CLUB 4/2/13-PRESENT

KUATO IS MY HERO! AMA!


smoobles posted:

Cashed out my 0.5 butts, yay

Crash motherfucker.

You fool, you've singlehandedly caused a 5k drop in Bitcoin... I knew something was wrong

mojo1701a
Oct 8, 2008

Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

Comfy Fleece Sweater posted:

edit: The thing about Bitcoins is... it doesn't make sense. It's driven by stupidity, a lot of the price is just leveraged stupidity of us humans. So in that way, considering maybe 1% of people around the world have even heard about it, there's a lot of stupidity to be mined

If Bitcoin has proven one thing, is that you should never underestimate the fever dreams of internet weirdos.

TACTICAL SANDALS
Nov 6, 2009

click clack POW, officer down

LinYutang posted:

short 👏🏾 sell 👏🏾 bitcoin

I was just wondering about this, like how would you go about doing this? Hypothetically of course lol

Leofish
Aug 20, 2007
100% of your Recommended Daily Intake of Leo. Now with a tangy seafood flavor!

Y'all made fun of the bee tee see back in '11 and I was like, "guess it's silly" and now I could have been a millionaire if I had some buttcoins back in the day and they somehow never got hacked or stolen in six years.

TheKingofSprings
Oct 9, 2012



TACTICAL SANDALS posted:

I was just wondering about this, like how would you go about doing this? Hypothetically of course lol

Google says you basically don't, regular markets are staying the gently caress away because they know it's a bubble too and the transaction cost is high.

Powershift
Nov 23, 2009

My name's ralph and i'm a bad guy. I'm 9 feet tall, i weigh 643 pounds. I'm a wrecker, i wreck things.




TACTICAL SANDALS posted:

I was just wondering about this, like how would you go about doing this? Hypothetically of course lol

First you give money to the organization that banks with some obscure polish farmer bank and prints fake money to buy bitcoins with every time the price dips.

Short bitcoin on their platform

OOPS! your short position was accidentally closed out at $29,000 even though the price never actually went anywhere near there.

smoobles
Sep 4, 2014



Lol I just made $7,000 profit off a fake currency whose only purchasable good is drugs but is actually 99% nerds playing a pretend stock market

COMRADES
Apr 3, 2017

MUST

CRUSH

CAPAATAALEISM



Paladinus posted:

What next? Chargebacks? This is actually extremely good that you can't cancel your transaction.

You can't cancel fraudulent transactions? That's not really a good thing.

FogHelmut
Dec 18, 2003

Your authority is not recognized in Fort Kickass.


Paypal handled 1.9 billion transactions in Q3 2017.

At 8 transactions per second, this would take Bitcoin 7.5 years to process into the blockchain.

nexous
Jan 14, 2003


smoobles posted:

Lol I just made $7,000 profit off a fake currency whose only purchasable good is drugs but is actually 99% nerds playing a pretend stock market

Is that $7,000 still in an exchange or in your bank account? Honestly curious if you are able to get it into actual USD.

LinYutang
Oct 12, 2016

O! beautiful for patriot dream
That sees beyond the years--
Thine alabaster cities gleam,
Undimmed by human tears!


TACTICAL SANDALS posted:

I was just wondering about this, like how would you go about doing this? Hypothetically of course lol

who wouldn't love to see concrete actions from Confident Wise People who have been prophesizing bitcoin's imminent failure for years

XK
Jul 9, 2001

Star Citizen is everywhere. It is all around us. Even now, in this very room. You can see it's fidelity when you look out your window or when you watch youtube


Toys For rear end Bum posted:

The minimum fee to get your bitcoin transaction thru is now $5.69.
although for that price it'll take 24 hours.
But for just $19.11 your transaction will only take 1 hour!
Currency of the future, everyone

The current block reward is 12.5 bitcoins.
The average number of transactions per block is ~2,500.
The average amount of transaction fees per block is 4 bitcoins.
The current bitcoin price is ~$15,000.

https://blockchain.info/stats

The block reward is $187,500.

Every 10 minutes, $187,500 is being removed from the bitcoin economy.

Each transaction costs $75 in block rewards.

Each block has $60,000 in transaction fees.

The average transaction fee is $24.

Block reward plus transaction fee means each transaction costs $99.

FogHelmut
Dec 18, 2003

Your authority is not recognized in Fort Kickass.


LinYutang posted:

who wouldn't love to see concrete actions from Confident Wise People who have been prophesizing bitcoin's imminent failure for years

what is bitcoin's success?

Stefan Prodan
Jan 7, 2002

I deeply respect you as a human being... Some day I'm gonna make you *Mrs* Buck Turgidson!



Grimey Drawer

nexous posted:

Is that $7,000 still in an exchange or in your bank account? Honestly curious if you are able to get it into actual USD.

That amount is pretty easy to withdraw

Sickening
Jul 15, 2007

Black Summer was the best summer.

LinYutang posted:

who wouldn't love to see concrete actions from Confident Wise People who have been prophesizing bitcoin's imminent failure for years

But when will bitcoin succeed?

spandexcajun
Feb 28, 2005

Suck the head for a little extra cajun flavor

Fallen Rib

COMRADES posted:

You can't cancel fraudulent transactions? That's not really a good thing.

LOL if you lost your private key, or it was stolen, or whatever, it's your fault dummy, have fun being poor.

Not a joke, this is the actual answer BTW.

spandexcajun
Feb 28, 2005

Suck the head for a little extra cajun flavor

Fallen Rib

https://blog.coinbase.com/please-in...am-bf7f13a4b0b1

"Please invest responsibly" - a company that take credit cards for BTC and admits it is likely that they will be unavailable or unable to process your transactions when you want to withdrawal.

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mojo1701a
Oct 8, 2008

Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

Sickening posted:

But when will bitcoin succeed?

When it's to the Moon.

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