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pgroce
Oct 24, 2002
im posting the dip

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pgroce
Oct 24, 2002

Axe-man posted:

First you thought your unregulated exchange was safe. Then you found out that local bitcoin is a bad idea. What next?! That the bitfinex trillions are fake?!

come now, they aren't fake, they're just the proceeds from billions of dollars of international narcotics trafficking.

pgroce
Oct 24, 2002
bitcoin-yoda feels like a relic, a throwback to a simpler time of scammer hero members and honest ponzis. of poorly-cast silver and uberman sleep patterns.

you’re too good for this world, bitcoin-yoda. too good.

pgroce
Oct 24, 2002
did we get below the “I can convince myself that gpu mining is profitable enough to justify buying every decent video card I can and burning it to ash” price threshold yet?

pgroce
Oct 24, 2002

Boxturret posted:

since ross is a completely worthless human being he is worth $0 and is, in fact, free

i think you’re overvaluing ross “blake benthall” ulbricht

pgroce
Oct 24, 2002

Pardot posted:

https://www.businessinsider.com/venezuela-devalues-bolivar-and-pegs-it-to-cryptocurrency-2018-8

  • Devalue Venezuela's currency, the bolívar, by a whopping 95%. The new currency will be renamed the "sovereign bolívar."
  • Instead of an exchange rate of 250,000 bolívars per US dollar, it will increase to about 6 million.
  • According to Bloomberg, the new bolívar will be pegged to the government's cryptocurrency, the petro.
  • The sovereign bolívar will move in line with changes in the petro, which is linked to movements in oil prices.

:honked:

oil prices are almost universally denominated in dollars

they just pegged their currency to the dollar and massively devalued it whatever who cares

truly cryptocurrency is a disruptive monetary force

pgroce
Oct 24, 2002
imagine how many fewer horrible people would be on reddit if they didn’t allow names like goodwill_cunting or semen_thrower

he said on the something awful forums

pgroce
Oct 24, 2002
meanwhile, noted stablecoin tether during the recent unpleasantness



:allears:

pgroce
Oct 24, 2002

Bulgakov posted:

fully saluting bitmains super obvious racket :911:

grifting the people who think they’re gonna be the true grifters cause rent extraction is nothing they’ll never acknowledge

except that they’re also getting high on their own supply. the larger their mining operation, the more unsold inventory they have sitting around (or powered up, eating power and maintenance costs).

if bitmain had never mined and sold antminers just-in-time to chumps, then they could literally turn out the lights now and count their winnings. but they’d have fewer winnings.

if they’d never sold their mining rigs and used all of them themselves, they’d be sharecroppers like the other miners, with only the money they got from selling coins to offset their capital (and ongoing operational) costs.

somewhere in there is a golden point where they’re getting the most juice from the mining side hustle they can with the lowest investment, while still mainly banking max cash from selling shovels, because that’s the business that’s all paid up when the music stops.

the question i find interesting is where that point is, and how close bitmain got to it.

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pgroce
Oct 24, 2002
Bitcoin is coming back in a big way, I’ll tell you more for some US Dollars!

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