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Salt Fish
Sep 11, 2003

Cybernetic Crumb
Goons have always been wrong about bitcoin, so look for the crash to happen the second the GBS hivemind endorses it.

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Salt Fish
Sep 11, 2003

Cybernetic Crumb

Huzlers.com is the most infamous fauxtire & satire entertainment website in the world. If it's trending on social media you'll find it here!

Salt Fish
Sep 11, 2003

Cybernetic Crumb

a hot gujju bhabhi posted:

How can you possibly go through all that and still BELIEVE IN BITCOIN

How could you crash at kitty hawk after 50 yards and still believe in airplanes?

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Uncle Wemus posted:

Where's that bitcoin success story where the reddit guy flew to rural Brazil to gently caress some girl and ended up bunked with her 15 year old sister in her families one room shack and got thrown out for jerking off in her bed.

Just masturbate to something normal.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

lazorexplosion posted:

It's just so blindingly obvious that bitcoin is a bubble. Like a bubble is when purely speculative investment drives a commodity way above its actual practical value. Is bitcoin full of speculative investment? Oh god yes it's practically all any bitcoin site is talking about. Is it above its practical value? It's a currency where you go to a bar that 'accepts' bitcoin, pay a $30 fee to buy $20 of drinks, then when the bartender discovers the transaction might not go through for hours (or days) he makes you pay with your credit card anyway, and then the bitcoin transaction can't be cancelled and the bar can't send your money back because the transaction fee to send it back is greater than the actual value of the money. And to make this majesty happen the bitcoin users collectively pay for the more electricity than all of Denmark.

I'm not kidding when I say it already has negative value, it literally has substantial actual costs and no actual usefulness. That is what you are buying into.

It cannot be stable and will never be stable. It has no actual usefulness and the only reason people want to buy and hold it is because it's going up. If it ever 'stabilizes' the it becomes an 'investment' in a currency you can't use that offers no interest and no dividends. There is no reason to hold a stable bitcoin. If bitcoin stabilizes, it collapses. It needs constant growth. And on top of that, the miners have to constantly sell to obtain actual currency to pay for their electricity bills. It needs a constant net inflow of money to pay for the actual cost of running it or it starts collapsing.

You can buy drugs with it on the internet.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

XK posted:


I literally want to know just one thing of any value that ETH has done, ever. The actual distributed processing functionality itself. Any thing.

You're getting mad, online.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
Bitcoin was essentially an art project made with code, and it's not the creators fault it got turned into a gambling vehicle for "investors". Crypto currencies are pretty cool from a conceptual standpoint and imagine if etherium version 2 or 3 succeed in turning all of the world's mining power towards solving difficult research problems.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Sestze posted:

We already had a system for this called Folding@Home and other opt-in cloud-computing endeavors. The problem is, when the ledger gets long enough, people stop really spending a lot of time "mining" (doing the hard problems) and start spending a lot more time doing the bullshit transaction logic. The mining was a reward to keep the lights on, the purpose of having said lights on was to allow for the transaction ledger to continually be updated.

A system designed to solve hard problems that slowly gets worse at solving hard problems over time because of the overhead of everything that's happening in the system is not really a system that's good at solving problems.

This post reads like you took 3-4 other posts that were basically factual and then glued them together into a new one that doesn't make any sense. The dude wanted to know why etherium exists and the answer is roughly that the author wanted to fix the wasteful nature of mining. I've seen dozens of people in this thread complain about all the waste involved in mining, so you'd think it'd be well received to have someone playing around with the basis of a partial fix. This iteration has some clear issues, but that's part of the process of inventing. It's not the protocol's fault that idiots pick up the open source project and try to speculate with it.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Often Abbreviated posted:

Yeah I don't think the periods of ups-and-downs matter as it's all part of speculation on an asset without any value i.e. a bubble. If it drops from $1,000 to $500 for a few months before climbing again that doesn't make it less of a bubble. It's not reliant on the price growth being at a constant rate or anything. But you seem kinda mad about this and I don't really understand why so I think I'll just leave you to it from here.

What is a bubble?

Salt Fish
Sep 11, 2003

Cybernetic Crumb
Nothing has value or meaning you dummies.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
https://twitter.com/Protiled/status/954533712049225728

Salt Fish
Sep 11, 2003

Cybernetic Crumb

gary oldmans diary posted:

this is great. just straight to the business of number only being able to go up until -uh oh- someone holds the bag. meanwhile site owner takes a big cut for providing literally nothing

They'll donate 3% of the sale to charity if a celebrity asks them to, which is great. Think of how many kids MSF could help with that much etherium.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Uranium 235 posted:

can you explain what you mean by price fixing

Any time you see a flat line in the pricing chart it's because of price fixing. Any alternate theory that it's because their Redis server is making GBS threads the bed because it's running off a t2.micro at AWS is FALSE and not to be trusted.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
It'd be awesome if a company could go bankrupt and then pull a bitconnect and pay off their outstanding debts by giving people their worthless stock at the market rate from before they went bankrupt.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

joats posted:

I am 100% with you. I am not toxxing myself though. However, I have pulled out from the markets because they have been dropping 1-2% for no apparent reason other than correction.

Also because there hasn't been a crash for 10 years and we are due for another one.

Also because of this.



Bitcoin is going to crash and gently caress up the markets for a bit. I'll just start buying back in when everything bottoms out.

Bitcoin is dumb but this chart being abused is just as dumb. I looked up the study to quote it about the graph but it's in French.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

I watched this guys video and he's insane. Also, it reminded me a lot of this:

https://www.youtube.com/watch?v=jBbLpxLglz0

Salt Fish
Sep 11, 2003

Cybernetic Crumb

orange sky posted:

https://twitter.com/hackerfantastic/status/956998119866150912

I find this to be quite a scathing critique in the end. We also have open doors in our economy through which a few can get most of the value we create if they have no moral standards

On the other hand, lmfao it's gonna be funny when someone abuses this

It's actually the other way around. The machines are mining Bitcoin because they were easy to hack. Installing a miner is one of the most common malicious payloads.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
Wouldn't the amount you'd need to decelerate be far less than what's needed for a "straight" dive at the sun?

Salt Fish
Sep 11, 2003

Cybernetic Crumb

gary oldmans diary posted:

if the sun had an atmosphere that reached just almost to the earth then you yeah you would only have to decelerate a little to get into that and then you would inevitably get sucked down into the sun (youre thinking about how things work on earth)
but instead there is a vacuum and you just orbit on whatever elliptical path you start on

I mean sort of, but consider that the sun is spitting out so much mass as solar wind you can use a literal sail to accelerate a satellite.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Dadbod Apocalypse posted:

do you dummies really think $1.7M is "gently caress you" money when someone is in their twenties? lmao.

I've been working for 15 years and I've made like... 1/3rd that before taxes. If someone can't afford to live off 1.7 million properly invested then perhaps they can live in a post-revolution gulag.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Misc posted:

living in capitalism does not give you a fatalist free license to act like a monster

Yeah, it has to profitable enough first.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Dadbod Apocalypse posted:

Where can I read some good freakouts?

Why would anyone freak out at such an amazing opportunity to buy the dip? If you want to see some denial check the replies to bitfinexed's twitter feed.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
Ok. I need everyone in this thread to be a little more clear because I just got confused and bought $1000 in uranium futures.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
It's all scripts and APIs trading it, and a script can't tell what the actual value is, so I think it'll be a slow burn to the bottom.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

actionjackson posted:

Why is buttcoin going down so much?

The mob cartel that controls the price is generously giving people a chance to buy the dip before they push it back on $20,000.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

VictorianQueerLit posted:

I bet they don't even own that car or are paying like $1,000 a month for it on a 100 month loan or something

20 bucks a photo.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

DACK FAYDEN posted:

"topia" is literally place ("eutopia" = "good place", "utopia" = "no place", "dystopia" = "bad place", the same Greek root as topology/topographic)

so it's BOY PLACE
Please touch my boytopia.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
Is this a good time to get into bitcoin? I have $5,000 I was going to put into my Roth IRA after getting my taxes done, but I saw BTC was as cheap as 7800 this week on Bitfinex. It looks like I can get a 3% discount if I buy some "USDT" which is some kind of United States backed crypto for using dollars easier?

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Trig Discipline posted:

Oh yeah I saw a really interesting paper on this in the International Journal of Complete Bullshit I Just Made Up.

Link?

Salt Fish
Sep 11, 2003

Cybernetic Crumb

I'll give you 10 dollars for that text file! *looks over shoulder* No, make that 12 dollars!!

Salt Fish
Sep 11, 2003

Cybernetic Crumb
Hey everyone, I wanted to let everyone know I have a thread in the SA mart right now. I'm selling rare text files that are cryptographicly guaranteed to be unique. All you have to do to get one is send me 10 dollars, where you went to school when you grew up, your birthday, and the last 4 digits of your phone number. Then, I'll take this data and create a SHA256 hash out of it, and then give you a text file with the cryptographic "token" that uniquely enshrines your data and life in an impossible to destroy monument.

The best part is that these unique tokens will be fully tradable with other users of my service, and the value is almost certain to go up. For 15 dollars I will upgrade any user to SHA512, and for only .99 cents you can chose any of the default windows fonts for your file! Hurry, because supplies are limited!

Salt Fish
Sep 11, 2003

Cybernetic Crumb
USDT doesn't need a name. They're exactly the same as dollars, so just call them dollars.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

I would blow Dane Cook posted:



Also another exchange got hacked.

#corsaircomics

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Heath posted:

Is there a chart that shows the price in a minute by minute breakdown? The chart on bitcoin.com only shows as small as 3 month readouts but I want to show someone how the price has been rubberbanding around 8000 for the last 3 days and has been losing and regaining the same $1000-1500 about once every two hours since then.

https://www.gdax.com/trade/BTC-USD

Salt Fish
Sep 11, 2003

Cybernetic Crumb

Alpha Mayo posted:

I moved to real stocks a couple days ago. I have betrayed you bitcoin.

It feels really loving nice having like a billion different ways to trade all in a nice, safe, secure, regulated environment, with shares of companies that actually exist in the real world. It's so much less stressful and I'm saying that while the stock market is literally crashing.

You picked a great time to invest.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
If you're scamming someone I loooove the idea of having a helpdesk where people can send tickets. It gives you like an extra 90 days to get away.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

joats posted:

What kind of idiot would put fake water laminate on tile.

I think everything is wet because they just put out a fire.

Salt Fish
Sep 11, 2003

Cybernetic Crumb

joats posted:

Nah, the water texture repeats. It looks really dumb as gently caress.

That's an artifact of the photoshopping someone did to spread FUD. That person's mining rig is fine.

Salt Fish
Sep 11, 2003

Cybernetic Crumb
I mean its semantic and the same vocabulary nuance exists with Tor. It doesn't make you "anonymous" per se, but it separates your identity as a individual human from your identity as a set of transactions/web requests until such time as someone has a way to connect it back to you.

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Salt Fish
Sep 11, 2003

Cybernetic Crumb
Correct, which makes it quite a bit harder to trace than other methods that you might use to move 6 or 7 figures worth of currency.

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