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CampingCarl posted:friend of a friend recycles computers and came across this, no word if it was under a bird bath. im the unepoxied IEEE 1394 port which has full DMA access to system memory 
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Nov 27, 2019 00:38
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cpeterso 44 minutes ago [-] I've noticed that muted words [on Twitter] don't mute ads. I've muted words like "blockchain", "bitcoin", and "Ethereum" and yet I still see ads for blockchain startups. Shouldn't the fact that I went out of my way to mute a word be a strong signal that I am not a good match for an ad?? reply You claim to hate Bitcoin and yet you use services subsidized by Bitcoin startups/scams. Curious!
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Jan 24, 2020 23:14
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Electronics Youtuber Julian Ilett got his hands on a non-working Antminer T9+ ASIC bitcoin miner and tore it down: https://www.youtube.com/watch?v=aMYLyji0Ej8 Not too much surprising there, but it's still interesting to see what a "modern" bitcoin miner looks like.
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Feb 12, 2020 19:34
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The next Buttcoin halving is in just two months. The last few times it happened the miners were able to pump the price of butts to keep themselves solvent but this time it will coincide with the likely peak of the Coronavirus pandemic and a likely recession (caused by said pandemic). If that's the case the price will already be depressed and a pump may not take hold. If the pump fails we may finally see a frisbee on the roof scenario as mining becomes unprofitable for everyone all at same time. 
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Mar 11, 2020 19:43
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Zopotantor posted:this is one of those "technical analysis" things, isn’t it? I guess it technically is (  ) since it's a prediction of future market action based on past market behavior and current conditions, but it doesn't involve schizophrenic scribbling overlaid on financial charts so I'm going to say no.betalarmannen posted:recession also tanks electricity costs, so they are probably sadly able to continue mining But drop by 50%? Possible, but even in China that would be a stretch unless their economy really does go down the tubes (again, possible given the current direction the world economy is headed). vortmax posted:how does tether fit into the scenerio? It's hard to say. The Tether exchanges will all be pushing the pump as hard as possible but at some point the miners need to pay their USD or CNY or ISK to the electric utilities and I don't think they'd accept fake-dollars, no matter how fully backed, as a substitute. That said, even though this is the most likely scenario to put the frisbee on the roof it's still much more likely that they succeed in pumping (at least enough to prevent a total collapse of mining) and everything goes on as normal because  in hellworld
Mr.Radar fucked around with this message at 23:14 on Mar 11, 2020 |
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Mar 11, 2020 23:12
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Gobbeldygook posted:frisbee on the roof isn't a problem because nobody uses bitcoin, all the action happens off-chain on exchanges. a loss of 95% of mining power and now having three and a half hours between blocks instead of 10 minutes would have zero effect on most users.  you guys are almost certainly right that the frisbee is staying off the roof (I can dream damnit  ) but I hadn't even considered that people would just keep swapping butts back and forth on exchanges even in a FOTR scenario (and the exchanges would probably just create a way to send butts between each other without a blockchain closing the circle on replaying the history of money and finance on fast forward)
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Mar 12, 2020 00:50
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Gobbeldygook posted:you can absolutely send and receive butts to and from someone else on your exchange without touching the blockchain itself. moving them between exchanges without involving the Universal Worldwide Ledger would require exchanges to trust each other to not be scammers. no, i understood that part. i just didnt make the connection that people would even consider bitcoin valuable without its magical blockchain... but then again tether exists, and so did goxcoins as Boxturrent pointed out.
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Mar 12, 2020 02:31
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https://www.youtube.com/watch?v=fr8bp8a2QS4
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Aug 11, 2020 04:39
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Tether did submit some kind of evidence to the SEC or another US regulator last year that they in fact have assets totaling (IIRC) 70% of their liabilities (including non-cash assets like Bitcoins). You'd think this would instantly cause the value of Tethers to drop to $0.70 on the "dollar" since that's the most you could expect to get for your Tether if all the backing assets were distributed evenly, but it's still trading in the $0.98-$1.00 range presumably because all the people who are willing to buy it think of it like a Ponzi where of course they'll be one of the ones to cash out before the money runs out.
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Oct 24, 2020 21:25
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divabot posted:it is impossible to overstate the brain genius of Facebook's crypto project and everyone involved this is absolutely the funniest and most buttcoin thing i've read today lol, i wonder who was salty enough to buy you pro-bitcoin redtext (seraph?)
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Dec 8, 2020 09:13
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The US Treasury released a report on "stablecoins" today. Here's their main recommendations from the executive summary:quote:
Basically, they really want Congress to classify "stablecoins" as banks and require them to be subject to banking regulations.
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Nov 1, 2021 21:41
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JuliusBranson 0 minutes ago | parent | next [–] Stablecoins are dangerous because they have the potential to change the current selection effects on the elite. For one thing, stablecoins subvert the ability of the Federal Reserve to print money and give it to their friends at Goldman Sachs et al --- normally this is supposed to result in their friends have a larger fraction of money than they previously had. You start with 1 dollar, David at Goldman Sachs starts with 1 dollar, you each have 50% of the wealth in the "nation." David and his friends start printing themselves money, soon they have 99 dollars and you have 1. That's how inflation works. When there's stablecoin, you just put your dollar in bitcoin before they print the money, the dollar inflates, bitcoin goes up proportionately, you spend the bitcoin and things remain fair. This obviously curtails the ability of the ruling class to reproduce itself. More than that, if the pool of people getting billions through stablecoins is more random than the pool of people who got rich on the dollar, then the ruling class will change to be more representative of the population as a whole. This could cause massive cultural changes, consequently. reply
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Nov 24, 2021 17:54
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Bluecobra posted:The Something Awful Forums > Discussion > Serious Hardware/Software Crap > YOSPOS > buttcoin: overdrawn at the be your own bank
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Jun 13, 2022 17:26
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e: ^^^ You're probably mixing up Gox and Bitfinex. Gox always claimed they were actual dollars, it was just that you couldn't access them. You could still trade them between Gox accounts even after it was clear they were bankrupt, which allowed third parties to invent their own mechanism to arbitrage "Goxbux" and actual dollars. In the case of Bitfinex that platform itself took a haircut on everyone's deposits and then "compensated" them in their own "BFX" token. Then after they acquired Tether (through N levels of indirection to make it impossible for anyone at the time to know) they "redeemed" those tokens for Tethers making everyone "whole".Boxturret posted:mtgox managed to survive like that for months! IIRC they allowed you to withdraw Bitcoin just not dollars during that period, which is partly why Bitcoin went so high since the only way to get "value" out of Gox was to buy BTC on Gox and dump it elsewhere and nobody was selling BTC on Gox because you couldn't get your dollars out (and IIRC there was also a huge spread (several hundred $$$) between Gox and every other even semi-legit exchange that allowed you to actually withdraw cash which we aren't really seeing this time because this time everyone is in on it thanks to Tether  ).
Mr.Radar fucked around with this message at 17:37 on Jun 13, 2022 |
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Jun 13, 2022 17:32
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Next year FedNow will launch which should finally get the US caught up with Europe and Canada as far as bank transfers are concerned.
Mr.Radar fucked around with this message at 17:46 on Dec 13, 2022 |
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Dec 13, 2022 17:44
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Coffeezilla just posted the first part of a three part expose on Logan Paul's play-to-earn crypto game: https://www.youtube.com/watch?v=386p68_lDHA The call with Logan Paul's manager at 18:15 is particularly 
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Dec 17, 2022 02:01
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kkielhofner 2 hours ago | parent | context | favorite | on: Coinbase cuts staff by a further 20% I spent most of the last two years working on an NFT anti-fraud solution[0]. My two prior startups were (essentially) in telecom and healthcare. Coming from these well established, highly regulated, somewhat legacy industries to "crypto"/NFTs/web3 was a very interesting experience, to say the least. Users/potential customers for our solution ranged from creators to marketplaces to collectors/investors. Several very general and broad observations: 1) The anonymous/pseudo anonymous nature of the space is bizarre. I would have multiple voice-only meetings with people using aliases and avatars for all communications. To this day I only know some people as "Mango Man" or whatever. Meeting people who could just burn down an entire identity and start fresh when things go sideways is an indicator of the nature of the space. 2) There is a general lack of "adults in the room". I would get on a call with the Founder/CEO of a marketplace or project that was valued (at least) in the > $100m range and hear and see things that were horrifying. My final breaking point was a call with the founder of a well known highly valued NFT marketplace who showed up (Tuesday morning, 10 AM) obviously high on some sort of stimulant. Within the first five minutes of the call they repeated their mantra of "I'm just trying to get made, paid, and laid" several times. They spent the remainder of the (very brief) call describing all kinds of things I'm pretty sure are illegal. On an introductory call. 3) The fraud and overall criminality is well beyond what is publicly known from FTX, Celsius, web3 is going great, etc. The most common reply regarding our solution was along the lines of "Why would we want this? We make our money on fraud". I was frequently reminded me of the scene in The Big Short when they talk to mortgage brokers and come away saying "Why are they confessing?" with the response being "They're not confessing, they're bragging". 4) Any semblance of professionalism and basic standards is generally non-existent. A HEAD OF LEGAL for a well known exchange (Superbowl commercial) would say and post things on LinkedIn that would get you terminated immediately in any other field. Daily. 5) The more technical startups/partners (infrastructure providers, etc) were generally the best to work with. However, the profiles of the founders and team were interesting - many of them had 1-2 years of junior experience at a FAANG (for better or worse). 6) VC in the space is even more wild than what has been reported in the media. I'll just leave this one at that. 7) Many people in the space seemed to just appear from nowhere. Like some of the technical founders with 1-2 years of junior experience and SBF who had a few years doing something at Jane Street I often times couldn't figure out where these people came from or why/how they were here. Of course this is common in tech (from Google to Facebook founders often "appear out of nowhere") but it was still extremely bizarre for SBF type characters to be dealing with hundreds of millions or billions of dollars of other people's money with either no reputation/background or a shady one. 8) In my 25 years of experience I've never dealt with a more generally unimpressive group of people. After nearly two years in the space, meeting hundreds of people, there are only a handful I want to maintain any sort of personal or professional relationship with. With my background I knew I would experience some culture shock (for lack of a better term) entering a space that was still (after 14 years) the Wild West. What I experienced was (almost universally) so beyond the pale I finally ran away screaming. I spent more and more of my time and energy attempting to motivate myself and the team by focusing on our efforts to do good in the space but after all of this no amount of rationalizing could make up for the cesspool I was living in every day. Like the famous saying goes - "If you think you might be depressed, first make sure you're not just surrounded by assholes". Basically, what I'm saying is, when I see the unbelievable-to-most FTX (and other) stories unfolding in the media all I can think is "Yep, sounds about right". When I see stories like this and people asking "What are all of these people doing?" I can firmly respond with either "I have no idea" or "Trying to manage this crazy world takes a lot of people". Thankfully I'm not in the space any longer but as shoes keep dropping left and right I don't think I could be surprised by anything anymore. [0] - https://fnftf.io/ reply
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Jan 10, 2023 18:14
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https://www.youtube.com/watch?v=HFpga3thWcE Logan Paul is refunding investors in his Crypto Zoo scam... For the amount (not value) of the cryptocurrency they put in and only if they didn't already liquidate their holdings for pennies on the dollar and only for the NFTs and not the in-game currency token.
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Jan 19, 2023 08:35
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This article came up on my Mastodon feed: Are Crypto.com and Binance's European Assets Frozen In Banking Space-Time? I'll quote a few excerpts here but I could really quote the whole piece since it has so much bad news for the entire crypto exchange/stablecoin ecosystem that you should really read the whole thing. quote:What I found looks bad. Really, really bad. Because the available evidence clearly suggests that Euro denominated user deposits currently held at Crypto.com have been seized by the government of Lithuania as part of an anti-money laundering enforcement action, in which case any customers trying to withdraw more than a negligible amount would rapidly force Crypto.com to file for bankruptcy. It’s also clear that the executives of Crypto.com have been, shall we say, less than forthcoming with their customers about what, exactly, is going on. At least that’s the highly charitable interpretation. Because they have not given their users so much as a hint that anything bad has happened. quote:The story starts with four pivotal publications by an intrepid group of citizen journalists of which I am proud to be a member. The first of them was a piece published by DataFinnovation using simple numerical analysis to suggest very convincingly that Signature Bank (stock ticker: SBNY), the biggest “crypto-friendly” lending institution on the planet, was probably holding Tether’s cash in some incredibly large uninsured accounts. You can read the important details of DataFinnovation’s analysis here but if you just want the money shot here is a graph that compares the number of Tether’s USDT “stablecoin” in circulation to the uninsured, non-interest bearing deposits at Signature Bank. quote:This in turn prompted the Twitter sleuth Deltec’ed to unearth some actual receipts proving that Signature Bank was providing bank accounts to Binance through a shell company so scammy it had been struck from the corporate register of the goddamned Seychelles. Which is both impressive (on Binance’s part) and incredibly illegal (on Signature Bank’s part).  quote:As a cherry on top some helpful human being on Reddit recently went through many of the largest cryptocurrency exchanges’ Terms of Service to figure out what they say about ownership, insurance, and other things that no one pays attention to until the moment withdrawals are halted and/or a filing is made in bankruptcy court.
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Jan 30, 2023 04:02
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Boxturret posted:was this the other bank that was used for bitcoin? No, the other big crypto-touching bank in the US is Signature Bank of New York. It wouldn't surprise me however if SVB pointed all their crypto startups at Silvergate or Signature.
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Mar 10, 2023 18:26
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Deep Dish Fuckfest posted:wait i thought binance and tether were two entirely unrelated entities that just kind of happened to work together from time to time Tether is Bitfinex. Binance has their own separate stablecoin, BUSD.
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Mar 11, 2023 04:40
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Mr.Radar posted:rvz 23 minutes ago | parent | context | flag | favorite | on: USDC Down ~10%
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Mar 11, 2023 16:14
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From the Doomsday Econ thread:Ramadu posted:https://twitter.com/coinfessions/status/1634871859664637954?s=46&t=5gOtSGe-3eqQ8Acn93U6lg
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Mar 12, 2023 17:55
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Deep Dish Fuckfest posted:are would-be landlords a niche community? if so then there's at least that one Decentraland has multiple layers of landlords. There's the ones that "own" "property" in the game, there's the ones that own shares in the DAO that supposedly governs Decentraland, and then there's the Decentraland Foundation that maintains and administers the service which is not bound by either of the two other groups.
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Mar 27, 2023 05:43
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Mr.Radar posted:reisse 1 hour ago | parent | next [–]
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Apr 10, 2023 20:40
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Deep Dish Fuckfest posted:gently caress you this is satire 
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Apr 11, 2023 22:24
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https://www.youtube.com/watch?v=TOP2Ob3q8Zw Delusional crypto miners asking ludicrous prices for their
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Jul 5, 2023 05:20
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mestre da bitcoin https://i.imgur.com/HHiXv7y.mp4
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Sep 6, 2023 04:10
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