buttcoin: my kids know me as this ape

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Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

There�s Something Very Strange Going On With Bitcoin Futures

quote:

Bitcoin has been on a roller-coaster over the last few weeks, with the price often yoyoing up to thousands of dollars in minutes.

The bitcoin price is down almost half from its year-to-date highs, with the bitcoin and crypto market stuck on a downward trend for last six months.

Now, researchers have recorded "unusual" moves in the bitcoin futures market, with premium rates rising even as bitcoin prices fall�suggesting the bitcoin price could be headed higher next year.

[Update: 8.53pm EST December 6 2019] As the bitcoin price has recovered some ground today, moving above $7,500 per bitcoin, the price has realigned with CME's March 2020 bitcoin futures.

Between November 29 and December 2, the premium on bitcoin futures increased over 30% while the bitcoin price dropped around 6%.

"The premium rates on bitcoin March 2020 contracts have been increasing, although the bitcoin price has decreased," analysts at Arcane Research found, adding, "this is not a common observation."

Researchers also reported that bitcoin's implied volatility is set to rise to over 70% by June 2020, up from 55% for the middle of December 2019.

"This clearly show that traders anticipate changes in the bitcoin price. To put this in perspective, gold options for June 2020 trade with an implied volatility of 11.5%."

Despite bitcoin's recent sell-off, many bitcoin and cryptocurrency market watchers are feeling good about next year�bitcoin and crypto heavyweights have been predicting a sudden price surge, technical data is looking positive, and recent developments suggest 2020 could be a big year for bitcoin.

Meanwhile, the looming bitcoin halving event, set for May next year, will see the number of bitcoin rewarded to miners cut by half and some expect this to boost the bitcoin price�though others disagree.

loving Forbes lol

# ¿ Dec 7, 2019 23:59

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# ¿ Apr 26, 2024 12:30

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Lol that they are annoying 45,000 BTC, which compared to total "volumes" is tiny, can cause a crash by eating up all the demand. Why that would imply that the market for bitcoin is incredibly shallow and the prices are all derived from trades of a few penny shavings each

# ¿ Dec 17, 2019 20:19

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

...! posted:

why are those particular 45000 bitscoin more annoying than the others?

Cause they caused the crash

# ¿ Dec 17, 2019 22:40

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

For the last time

https://twitter.com/Rassah/status/336511775480635392

It's a type of SOUTH AMERICAN RACCOON! GET IT RIGHT!

# ¿ Dec 27, 2019 01:49

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Pictured: Cacomistle eating bitcoins

# ¿ Dec 27, 2019 02:12

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

The ringtail (Bassariscus astutus) is a mammal of the raccoon family, native to arid regions of North America

it is also a type of ~~South~~ North American Racoon.

It's still a racoon.

The important thing is that they are all procyonids. I'm still right.

:smug:

# ¿ Dec 27, 2019 19:26

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

AlbieQuirky posted:

can someone summarize what he said because i, a woman, cannot in good conscience watch it

it�s not the whale-loving again, is it?

breaking ranks with my gender, I will let you know the secret:

Some men like butts.

# ¿ Dec 29, 2019 18:33

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

That would seem to be the point of this entire thread actually.

# ¿ Dec 29, 2019 18:34

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

What was the prediction for today again. Wasn't someone supposed to eat their dick or something.

# ¿ Jan 1, 2020 07:50

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

divabot posted:

good to see goatse going the loss route and getting more and more abstract

the briefcase is the ring

# ¿ Jan 6, 2020 01:21

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

divabot posted:

Wikipedia has a crappy internal newsletter called the Signpost, and the editor's been bugging me for most of the past year to write something about cryptos on Wikipedia for it. I finally drafted something. Mostly it's for my fellow Wikipedia editors, but normal humans should be able to understand the jargon - suggestions welcomed.

NEEEEEEEEEEEEEEEEEEEEEERRRRRRRRRRRRRRRRRRRRRRDDDDDDDDDDDDDDDDDDDDDDDDDDD

# ¿ Jan 14, 2020 23:44

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Numbers go way up in a way that I'm sure is totally non-suspicious

# ¿ Feb 11, 2020 18:02

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Interesting that one of the greatest market drops in the last 50 years (with more to come) seems to be driving the Bitcoin price down.

# ¿ Mar 9, 2020 07:59

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Farmer Crack-rear end posted:

yeah what exactly triggered this drop in bitcoin prices? are dipshits trying desperately to liquidate so they can meet margin calls or something?

I think this is proving that there was at least some idiotic rich person interested in Bitcoin in a venture capital way, a potential place to get returns in a time when bonds were low and a lot of easy money was flowing. The market rout is so pronounced that it had actually popped the nonsense bubble around Bitcoin. Look at how tether is going up, that's like the rushing to bonds of the Bitcoin world. Except good luck redeeming lol. But if does mean that currently coiners are theoretically willing to pay 1.08$ for every "guaranteed" 1$ US.

Beelzebufo fucked around with this message at 18:01 on Mar 13, 2020

# ¿ Mar 13, 2020 14:24

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

In a space of cheap oil and reduced demand, us dollars could also turn deflationary. Woops lol, there goes bitcoin's supposed value proposition

# ¿ Mar 20, 2020 09:21

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Still pretty sure Ver can't be a real person's last name. Just like Tuur Demeester. Bitcoin people are aliens from the blockchain

# ¿ Jun 23, 2020 11:50

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

does this mean he won't be shilling mangosteen to pay for server costs

# ¿ Jun 27, 2020 04:37

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

lol is that screenshot real? Looks like shadowbanning is a thing. The coiners were right all along!

# ¿ Jul 16, 2020 03:53

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

The newest COVID plague barge. It'll be like it was a million years ago, back in March. Except this time hopefully no one lets them in.

# ¿ Oct 13, 2020 21:28

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Why does it have to be a neural net. LIke presumably these would all be dedicated law enforcement machines. So why not just server racks all networked together for computing power, without encrypting and breaking it all up.

Or is this like folding@home, but for Chris Hansen fans.

# ¿ Oct 15, 2020 15:55

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Qwertycoatl posted:

https://twitter.com/NicoDeva_/status/1317689811046522880

butt-touchers spent $240m of actualmoney on hardware to mine filecoin but they can't because of <incomprehensible cryptocurrency mumbling>

must die bye bye bye bye

If I'm reading this nonsense correctly, it seems the proof of stake system in Filecoin means that it's impossible to use the computing hardware to generate enough coins to maintain proof of stake at certain levels, so you have to buy coins to be allowed to mine more of them. So, it just adds cost.

Also maybe an exit scam right on the end :lol:

KnifeWrench posted:

I comprehended about 60% of that, but what I don't understand is why all of this napkin math wasn't doable earlier. were the policies not laid out in the test period?

The testnet that was rewarding people for investing in hardware worked differently, did not require proof of stake.

Beelzebufo fucked around with this message at 14:24 on Oct 19, 2020

# ¿ Oct 19, 2020 14:21

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

So the paypal bitcoin thing is just bitcoin denominated bitcoin tokens right?

ultrafilter posted:

People's Expensive NFTs Keep Vanishing. This Is Why

also lol. NFTs are the dumbest thing I have seen out of the tech sector in a long time

Beelzebufo fucked around with this message at 01:56 on Mar 31, 2021

# ¿ Mar 31, 2021 01:48

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Munin posted:

the sad things that you have a lot of digital artists who are desperate for some kind of thing which allows them to mint the same kind of numbered prints, or whatever, that physical artists can. quite a few of them are overlooking the bullshit associated with NFTs because they are desperate for anything that might offer that and NFTs say they do so. i had to talk down some artists i know down from that ledge.

sadly they are a massive scam and a lot of people, both on the artist and on the punter side, are going to get hosed.

Even if they just encoded the image/mp3 or whatever directly into the blockchain, wiht like a metadata counter for the number of prints or something, it would still be stupid, but it would be fundamentally less stupid than a loving url pointer. It's amazing the NFTs are like the dumbest possible iteration of an already dumb idea.

E: It's not really clear to me based on that article, but is the artist the one who hosts the file? Or is the exchange hosting it? Because I would love to have a digital art piece that returns a 404 error one day because the artist I bought it from forgot to pay his amazon hosting fees one month and the thing got deleted lol.

Beelzebufo fucked around with this message at 02:30 on Mar 31, 2021

# ¿ Mar 31, 2021 02:27

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

DerekSmartymans posted:

it�s not gambling, I thought it was an investment.

Besides, gambling at a casino with free drinks and decadent food provided is fun even if you lose a bit. I�ve never met or talked to a �happy� Bitcoin shill, but nocoiners get fresh laughs every other day or so for the last decade!

At least slot machines have fun sounds and spinning things. Just that sensory experience has a higher value than crypto day-trading.

# ¿ Apr 1, 2021 15:27

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

So question, are IPFS links indexed or listed in any way? Could someone who didn't have the NFT find the link and view the image?

Because I'm trying to think of what an NFT actually gives you (besides the smug status seeking), and the only thing I can think of is you having the ability to restrict access to the image (even if theoretically people could have saved copies already from the auction).

You can't insure the image, you can't claim copyright, you can't even prevent people from making copies or even selling those copies as NFTs themselves. So, in terms of control over a creator's work, I don't get what the NFT is supposed to bring.

I guess the hype by artists is just the idea of being able to charge exorbitant sums for an assumed rare piece, though again, I don't see what's stopping someone from making copies. I guess in that case it would just be knowing you had the first one listed in the blockchain that would count.

Dumb

# ¿ Apr 2, 2021 12:32

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Eeyo posted:

im kind of late to the party, but

error bonds

# ¿ Apr 3, 2021 01:06

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

He's right, country comparisons are so abstract.

I prefer to say that Bitcoin's yearly energy consumption is approaching the equivalent of 900 thousand tons of TNT being exploded.

I would argue Bitcoin does more damage overall.

# ¿ Apr 11, 2021 14:18

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Sagebrush posted:

60 hiroshimas

Think of how many berries you could dry with 5 hiroshimas a month.

# ¿ Apr 11, 2021 21:07

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

KnifeWrench posted:

yeah it's too on the nose to be insightful or clever

Honestly, any person remarking "[x] is cult-like, isn't it?" is basically redundant now. I think the modern world has proven over and over again that yes, humans can fixate on just about anything and develop a set of beliefs, rules and rituals to go with it as an affirmation of their identity.

# ¿ Apr 18, 2021 03:42

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

catspleen posted:

sounds like something a goon would say

I have sometimes searched for SA emojis (psyduck in particular) when I'm chatting to my colleagues, and every time it happens I look at my hands in horror, knowing I can never really escape this place.

E: The pandemic has been really bad for my "no SA during work hours" rule I had for myself for a while.

Beelzebufo fucked around with this message at 06:41 on Apr 18, 2021

# ¿ Apr 18, 2021 06:07

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

quote:

These Primary Sale numbers are before fees. I made an earlier document that surfaces all the fees deducted from the top 5 CryptoArt sites, so let�s run this data through that grinder.

The largest group of Primary Sales (34%) were for $100 or less. For $100, you can expect to have 72.5% � 157.5% of your Sale deducted by fees*. That�s an average(!) of 100.5%, leaving you with a $0.50 deficit or more.

The next biggest group of Primary Sales (20%) were for $100-$200. For $200, you can expect to have 37.5�80% of your Sale deducted by fees*. That�s an average(!) of 54%, leaving you with $92 or less.

The next biggest group of Primary Sales (11%) were for $200-$300. For $300, you can expect to have 25.8% � 54.2% of your Sale deducted by fees*. That�s an average(!) of 38.5%, leaving you with $223 or less.

The other groups make up 7.7% of Primary Sales or less, which as you�ve probably noticed are solidly clear of the majority so I won�t bother calculating those there.

lol

# ¿ Apr 22, 2021 23:40

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Ironically the price of eth is the cause of those high fees. Since each transaction needs a minimum amount of gas to happen, denominated in eth, the higher the price of eth, the higher the fees. Because of the price volatitility, there's effectively a floor on profitable prices for art that rises with interest in eth.

Art for the masses!

# ¿ Apr 23, 2021 00:46

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

so actually answer me something, people who might have more macroeconomics knowledge than I do. Given the open tap on tether, isn't what were seeing in the bitcoin price at least partially a type of hyperinflation?

Because they keep printing more and more tether, which notionally is backed in a one-to-one ratio with US dollars, and use it to buy bitcoin, thereby effectively increasing the supply of tether while decreasing the supply of bitcoin in a feedback loop akin to the Weimar Republic printing papiermarks to pay off debt. So is it just a fiction that bitcoin's are worth 52,000 right now because they're really worth 52,000 tether which themselves most likely cannot be redeemed for their US dollar value? And the reason is hyperinflation is only affecting bitcoin is because, what else can you buy with tether? It's the only commodity denominated in tether, hence it's the only commodity that the prices is rising in.

Because I find it hard to believe that the amount of money that seems to be entering or exiting the market in any one day could possibly be occurring given the issues people had with banks and the like.

# ¿ Apr 26, 2021 15:21

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

God I hope the price crashes soon.

# ¿ Apr 26, 2021 18:29

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

acidx posted:

Surely they've got to run out of greater fools at some point.

I actually think the price will crash whenever the pandemic liquidity goes down even a little bit. Bitcoin is literally moving in lockstep with the stock market right now, which makes sense given how much of that is idiots with easy money. At some point the spigot is going to turn off and so will the profitability of parasitic entities like bitcoin.

# ¿ Apr 26, 2021 18:36

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

KnifeWrench posted:

https://www.cnn.com/2021/04/27/success/nft-real-estate-auction-california-home/index.html

man attempts to attach nft to real world object with actual value, market rejects him outright

It's amazing how much this article dances around the obvious conclusion that the problem with trying to sell a real house was that it would come with the real life implications of ownership, unlike the "toddlers playing store" dynamic of the crypto world where none of it means anything and there's no actual legal definition of what owning an nft even does.

I love that real estate investors were asking such highly technical and industry-specific terms as "how exactly is legal title in force in this case?"

Beelzebufo fucked around with this message at 04:46 on Apr 28, 2021

# ¿ Apr 28, 2021 04:32

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

ultrafilter posted:

https://twitter.com/nytimes/status/1387801377062203392

Why would the original NFT seller retain a 10% commission on every subsequent sale? They can't even do money-laundering by art right.

Also, I would really like to know what the New York Times defines as the "original". The credulity of these journalists never ceases to amaze

# ¿ Apr 30, 2021 08:02

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

has anyone said......

nasty fart token (nft)?

# ¿ May 5, 2021 14:12

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

No disagreement but it seems like the actual show has nothing to do with crypto at all, and it's only a "crypto" show because they're going to be selling NFT gifs ont he side.

# ¿ May 18, 2021 06:48

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# ¿ Apr 26, 2024 12:30

Beelzebufo: Mar 5, 2015; Frog puns are toadally awesome

Is Chia even selling yet?

# ¿ May 18, 2021 08:06

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