Bitcoin: We've reached the end of the postchain.

The Something Awful Forums > Discussion > Serious Hardware/Software Crap > YOSPOS > Bitcoin: We've reached the end of the postchain.

«‹›999 »

Heresiarch: Oct 6, 2005; Literature is not exhaustible, for the sufficient and simple reason that no single book is. A book is not an isolated being: it is a relationship, an axis of innumerable relationships.

anybody that uses the term "laffer curve" completely seriously can be safely ignored

# ? Feb 14, 2014 07:11

Adbot: ADBOT LOVES YOU

# ? Jun 9, 2024 19:22

...!: Oct 5, 2003; I SHOULD KEEP MY DUMB MOUTH SHUT INSTEAD OF SPEWING HORSESHIT ABOUT THE ORBITAL MECHANICS OF THE JAMES WEBB SPACE TELESCOPE.

CAN SOMEONE PLEASE TELL ME WHAT A LAGRANGE POINT IS?

Why is the value of Bitcoin suddenly dropping so rapidly? (self.Bitcoin)

submitted 2 hours ago by popcornicus

[�]skilliard4 16 points 2 hours ago*

Panic sellers.

Wait for it to hit rock bottom, then buy in. People always feel like it's the "death of Bitcoin" when a minor exploit causes temporary issues, when a market gets hacked, or when an exchange has problems. Bitcoin always recovers, and comes back stronger.

Now is the best time to get cheap coins. You may want to wait a few hours though, let the trend continue and buy in before it stops.

Once the transaction malleability problem gets fixed, and mtgox resumes withdrawals, the price should correct itself a little bit. I don't think it will reach $800 right away like it was, but it should climb back up to at least $650 or $700.

Panic sellers are also the reason the market is so volatile. Believers that buy in when the price is low are what we need to help make Bitcoin more stable. If people trust Bitcoin and buy in when things look bad and when prices are low, it forms a wall for Bitcoin's value to remain steady.

# ? Feb 14, 2014 07:11

...!: Oct 5, 2003; I SHOULD KEEP MY DUMB MOUTH SHUT INSTEAD OF SPEWING HORSESHIT ABOUT THE ORBITAL MECHANICS OF THE JAMES WEBB SPACE TELESCOPE.

CAN SOMEONE PLEASE TELL ME WHAT A LAGRANGE POINT IS?

Outrageous. Estonian police threatening small exchange. Received threats from the Estonian police for buying and selling a few Bitcoins and having a website where I quote my prices. Have temporarily closed btc.ee. (self.Bitcoin)

submitted 3 hours ago by JesusBoi

https://www.facebook.com/ottodv/posts/10153868365790173

Received threats from the Estonian police for buying and selling a few Bitcoins and having a website where I quote my prices. Have temporarily closed btc.ee.

[�]JesusBoi[S] 1 point 2 hours ago

I'll publish as much detail as I can soon. For now let me say that I have been threatened with a 32000 Euro fine and 3 years in jail.

# ? Feb 14, 2014 07:12

anthonypants: May 6, 2007; by Nyc_Tattoo; Dinosaur Gum

brian krebs just linked that bitcoin venn diagram and attributed it to buttcoin

# ? Feb 14, 2014 07:13

Sham bam bamina!: Nov 6, 2012; ƨtupid cat

HEY MY LINUX RIG MAYBE YOU SHOULD BUY SOME BITCOINS SOMETIME SOON

JUT SOME FRIENDLY YOSPOS FINANCIAL ADVICE

# ? Feb 14, 2014 07:14

duTrieux.: Oct 9, 2003

Heresiarch posted:

anybody that uses the term "laffer curve" completely seriously can be safely ignored

i'm still not convinced that the laffer curve wasn't originally a joke

# ? Feb 14, 2014 07:14

Damiya: Jul 3, 2012

...! posted:

Can We Contact Media Sources And Ask Them To Stop Using MTGox Charts? (self.Bitcoin)

submitted 2 hours ago by skilliard4

I'm not intending to circlejerk about how much I hate mtgox, I just say this because it is a serious issue that misleads the public. As of right now, nearly every television station uses MTGox's information when displaying graphics regarding Bitcoin's value.

Mtgox for the past year or so has never been a good indicator of Bitcoin's value, as its prices are always higher due to it being it extremely difficult to get fiat currency out of the exchange. Just recently, they halted Bitcoin withdrawals, which had the opposite effect- Bitcoin is now worth significantly less on that exchange than others.

When news sources use MTGox charts in displaying Bitcoin's price, it makes the crash seem much worse than it really is. Bitcoin's price appears to drop from $900 to $300 through MTGox(66% drop), but its real value and purchasing power really only dropped from about $800 to $600(25% drop).

Can everyone please contact their local media sources and request that they use other charts such as Bitstamp or BTC-e? it provides a much more accurate representation of Bitcoin's value than MTGox, and many news reporters are not aware of this.

I really hope this change can be made. I'm a bit worried that they wont be willing to since MTGox values make their reports far more interesting, but hopefully some will prefer to be honest and use a more accurate graphic.

VERY MISLEADING

# ? Feb 14, 2014 07:25

Tayter Swift: Nov 18, 2002; Pillbug

hey guys I just wanted to say I've been laid up w a cold this evening but the bitcoin thread has helped keep my spirits up keep up the good work

# ? Feb 14, 2014 07:29

anthonypants: May 6, 2007; by Nyc_Tattoo; Dinosaur Gum

Sham bam bamina! posted:

HEY MY LINUX RIG MAYBE YOU SHOULD BUY SOME BITCOINS SOMETIME SOON

JUT SOME FRIENDLY YOSPOS FINANCIAL ADVICE

The Pierre/Obanne/Suk Bank of YOS is a 168-year old institution, and to promote a blacklisting of our bank based on the say of an unverified and biased report is the height of irresponsibility. We fully intend to pursue charges pursuant to Section 2 of the Defamation Act 1952 (Ch 66 15 & 16 Geo 6 and 1 Eliz 2) unless a full retraction and apology is posted prominently on this page. All subsequent communication will be via our legal department. Yours most fondly, Sammel Obanne The Pierre/Obanne/Suk Bank of YOS

# ? Feb 14, 2014 07:29

Cantorsdust: Aug 10, 2008; Infinitely many points, but zero length.

Eegah posted:

hey guys I just wanted to say I've been laid up w a cold this evening but the bitcoin thread has helped keep my spirits up keep up the good work

may your spirits forever track inversely to the price of bitcoin

# ? Feb 14, 2014 07:37

anthonypants: May 6, 2007; by Nyc_Tattoo; Dinosaur Gum

so that article about silk road 2, how long has update 2 been there

# ? Feb 14, 2014 07:50

BluPotato: Jul 18, 2006

...! posted:

I ain't got time to bleed. (self.Bitcoin)

submitted 41 minutes ago by a-ndy

Bitcoin is being tested. It's okay. Don't freak out. Yes, it's been a lovely week, but, ultimately surviving lovely weeks makes bitcoin stronger. The most important thing for our community is to demonstrate resiliency and resolve. Remember what bitcoin stands for. I don't give a poo poo if the value goes to a dime. This technology will (and is) changing the world. We took a hit this week, but we ain't got time to bleed. There's work to be done.

Bitcoin is becoming worthless and this is good for bitcoin because....

# ? Feb 14, 2014 07:52

Squatch Ambassador: Nov 12, 2008; What? Never seen a shaved Squatch before?

anthonypants posted:

so that article about silk road 2, how long has update 2 been there

people are speculating it's a scam from the Silk Road people because you'd have to be a massive idiot to fall for a large-scale transaction malleability scam.

bitcoin is such a quagmire of stupidity and scams it's honestly hard to tell which it is.

# ? Feb 14, 2014 07:55

killhamster: Apr 15, 2004; SCAMMER
Hero Member

stoutfish posted:

somebody said the word inflation, time for stoutfish to make an angry face at the internet

# ? Feb 14, 2014 08:01

stoutfish: Oct 8, 2012; by zen death robot

killhamster posted:

me redin ur poots
/

# ? Feb 14, 2014 08:04

Hammerite: Mar 9, 2007; And you don't remember what I said here, either, but it was pompous and stupid.; Jade Ear Joe

buttcoin is giving me a database error, is it being overwhelmed with all the hilarious bitcoin news killhamster

duTrieux. posted:

i'm still not convinced that the laffer curve wasn't originally a joke

The clue is in the name...

# ? Feb 14, 2014 08:06

Hammerite: Mar 9, 2007; And you don't remember what I said here, either, but it was pompous and stupid.; Jade Ear Joe

Andrew Gretton ‏@pattermeister 4m

@briankrebs cheap. Read about the technical advance that Bitcoin is: http://expectedpayoff.com/blog/2013/03/22/bitcoin-and-the-byzantine-generals-problem/ � BTC has irritating fanatics but the tech works.

# ? Feb 14, 2014 08:07

killhamster: Apr 15, 2004; SCAMMER
Hero Member

Hammerite posted:

buttcoin is giving me a database error, is it being overwhelmed with all the hilarious bitcoin news killhamster

ah poo poo

# ? Feb 14, 2014 08:07

PokeJoe: Aug 24, 2004; hail cgatan

duTrieux. posted:

i'm still not convinced that the laffer curve wasn't originally a joke

# ? Feb 14, 2014 08:11

Sweeper: Nov 29, 2007; The Joe Buck of Posting; Dinosaur Gum

Hammerite posted:

Andrew Gretton ‏@pattermeister 4m

@briankrebs cheap. Read about the technical advance that Bitcoin is: http://expectedpayoff.com/blog/2013/03/22/bitcoin-and-the-byzantine-generals-problem/ � BTC has irritating fanatics but the tech works.

to be fair the tech is pretty neat, but it doesn't really work as a transaction ledger in any reasonable way

# ? Feb 14, 2014 08:14

sincx: Jul 13, 2012; furiously masturbating to anime titties

# ? Feb 14, 2014 08:31

Hilbert Spaceship: Mar 15, 2007; If I was dyslexic I'd even hate dog too.

logcharts

# ? Feb 14, 2014 08:36

anthonypants: May 6, 2007; by Nyc_Tattoo; Dinosaur Gum

Disabled Hitler posted:

logcharts

linear progression of a log chart

# ? Feb 14, 2014 08:38

unpacked robinhood: Feb 18, 2013; by Fluffdaddy

unpacked robinhood fucked around with this message at 08:56 on Feb 14, 2014

# ? Feb 14, 2014 08:45

double sulk: Jul 2, 2010

unpacked robinhood posted:

# ? Feb 14, 2014 08:46

sleepy gary: Jan 11, 2006

unpacked robinhood posted:

# ? Feb 14, 2014 09:11

BobHoward: Feb 13, 2012; The only thing white people deserve is a bullet to their empty skull

Sham bam bamina! posted:

HEY MY LINUX RIG MAYBE YOU SHOULD BUY SOME BITCOINS SOMETIME SOON

JUT SOME FRIENDLY YOSPOS FINANCIAL ADVICE

last time bitcoin was down he tried to duck the punches by halfheartedly joining in the mockery. a very passive aggressive poster

# ? Feb 14, 2014 09:50

Herman Merman: Jul 6, 2008

TVarmy posted:

stop calling me dick dorkins

# ? Feb 14, 2014 10:35

Dex: May 26, 2006; Quintuple x!!!

Would not escrow again.

VERY MISLEADING!

unpacked robinhood posted:

# ? Feb 14, 2014 10:36

Cybernetic Vermin: Apr 18, 2005

mlg posting stupid things is true whether bitcoin falls or not, lets not tie one to the other

in fact, bitcoin is bad technology and bad economics whether it hits $10000 in a year or not

hard to dispute that more comedy payoff comes from falls though

# ? Feb 14, 2014 10:36

Synthbuttrange: May 6, 2007

quote:

MT.GOX 318.00
high: 531.96 low: 302.00 avg: 422.53

# ? Feb 14, 2014 10:42

TVarmy: Sep 11, 2011; like food and water, my posting has no intrinsic value

I wish I had a gif of that glorious crash from about 350 to 302 within a second.

The buywalls weren't properly in place, and but for the grace of Satoshi, it didn't drop even further.

# ? Feb 14, 2014 10:44

jre: Sep 2, 2011; To the cloud ?

unpacked robinhood posted:

# ? Feb 14, 2014 12:10

Greyhawk: May 30, 2001

Sham bam bamina! posted:

HEY MY LINUX RIG MAYBE YOU SHOULD BUY SOME BITCOINS SOMETIME SOON

JUT SOME FRIENDLY YOSPOS FINANCIAL ADVICE

where is he anyway?

i miss his posting

# ? Feb 14, 2014 12:13

Hammerite: Mar 9, 2007; And you don't remember what I said here, either, but it was pompous and stupid.; Jade Ear Joe

Greyhawk posted:

where is he anyway?

i miss his posting

this is a bad thing you have said

# ? Feb 14, 2014 12:14

Greyhawk: May 30, 2001

Hammerite posted:

this is a bad thing you have said

i think he's funny

ok not so much him but the reactions

# ? Feb 14, 2014 12:15

...!: Oct 5, 2003; I SHOULD KEEP MY DUMB MOUTH SHUT INSTEAD OF SPEWING HORSESHIT ABOUT THE ORBITAL MECHANICS OF THE JAMES WEBB SPACE TELESCOPE.

CAN SOMEONE PLEASE TELL ME WHAT A LAGRANGE POINT IS?

Are only white people into Bitcoin? (self.Bitcoin)

submitted 14 hours ago* by MC1RMutant

Today (via Twitter mostly) I became acutely aware that there is a perception that only white people are into Bitcoin. Specifically white guys. I was caught off guard by this perception as all of my Bitcoin interaction has been on the Internet, so I really had no way of knowing. I know that, at the very least, this has to be a US-centric view given the international nature of the currency.

So, does /r/Bitcoin think there's any truth at all to this perception? If so, it makes me a little sad that this is the perception given the potential I see in Bitcoin. If not, how does the perception get changed?

Edit:

No I didn't forget about China. I didn't forget about any country, which is why I said in my original post that I realize the currency is International. I'm talking about perception, and within the United States specifically.

It was a series of Twitter posts like this one that lead me to ask the question: https://twitter.com/amaditalks/status/434048933388910593

[�]takenokokoko 4 points 13 hours ago*

It comes down to cultural attitudes toward saving/investing. Chinese are prolific savers, more than Americans generally. And when you study American ethic groups closely, you find that whites and asians set the most aside for retirement accounts such as their 401k, while saving habits amongst blacks and hispanics tends to be lacking. I know I'll probably be downvoted for stating the truth, but there it is.

Edit: Not downvoted! Thanks, all.

[�]eCashPayments 0 points 13 hours ago

There is no such thing as white privilege. How about asian dynastic privilege? How about African tribal ruler privilege? Western culture focuses on saving, while other cultures focus on spending.

[�]hithere1978 1 point 13 hours ago

Wonder how far my white privilege gets me in India or the congo. I bet they just roll out the red carpet and start showering me with gifts.

[�]hithere1978 0 points 13 hours ago

White privilege is a term created by leftists and pushed by men such as Noel Ignetiev.

https://www.youtube.com/watch?v=0mSASrzCuBw

Having a majority is good to have and does carry some benefits, but the "privilege" is not limited to just white people. Go to any place that has a majority and they have the "privilege".

The good thing about it, is that whites are only a very small minority of the world and declining. If you are a minority and feel oppressed by white privilege you can probably move to a place tomorrow where you are the huge majority. Most will not do that and would rather stay in majority white countries because for the most part they are the best places to be. Its easier to stay and complain about being oppressed by so called white privilege.

[�]hithere1978 -2 points 13 hours ago*

Whites get poo poo done, sorry if that offends you.

Edit: some people are obviously offended.

# ? Feb 14, 2014 12:46

Joementum: May 23, 2004; jesus christ

duTrieux. posted:

i'm still not convinced that the laffer curve wasn't originally a joke

art laffer was an economics adviser to the herman cain presidential campaign

# ? Feb 14, 2014 12:46

TVarmy: Sep 11, 2011; like food and water, my posting has no intrinsic value

I just remembered the Tea Party was big on that antifragile thing. They were giving speeches on how attacking the Tea Party would be like chopping up a starfish in that it would just spread and grow the organization. They emphasized it lacked a center to attack. There's a ton of "I AM THE TEA PARTY LEADER!" Videos on YouTube, where yokels make jokes that there was no leader, technically.

Of course, the Tea Party developed centralization via corporate money, and suffered many self inflicted wounds decentralization was hopeless to stop.

# ? Feb 14, 2014 12:50

Adbot: ADBOT LOVES YOU

# ? Jun 9, 2024 19:22

...!: Oct 5, 2003; I SHOULD KEEP MY DUMB MOUTH SHUT INSTEAD OF SPEWING HORSESHIT ABOUT THE ORBITAL MECHANICS OF THE JAMES WEBB SPACE TELESCOPE.

CAN SOMEONE PLEASE TELL ME WHAT A LAGRANGE POINT IS?

What Will Happen Next (self.Bitcoin)

submitted 9 hours ago by mchrisbenner

Bitcoin dropped to $586 12/20. It had been lower, briefly, but it hovered around that price, climbing to $640, back down, and back up over the next few days. It is currently priced around $584 and it may drop lower tomorrow but it will again raise back to $700 and above within 6 days from it's deepest well, which should occur tomorrow morning when Bitcoin prices tend to be lowest.

The market will fluctuate a bit, with wider variance than average. This is the result of several hits, include the Gox fiasco and now SR2. SR2 fallout hasn't fully peaked, I don't think; however, the market could return as they tend to be the strongest of the black markets. Look for a lower bottom if SR2 is, indeed, gone; look for a quicker return if it isn't.

Also, Pornhub has begun a roll out in accepting Bitcoin. This will be hugely successful as porn watchers tend to want to stay anonymous, which Bitcoin will (at least currently) grant them. I would expect, as the porn website roll-out succeeds, the value of Bitcoin will increase past it's last stable price, which was at $810 and has reached as high as $1200.

# ? Feb 14, 2014 12:58

The Something Awful Forums > Discussion > Serious Hardware/Software Crap > YOSPOS > Bitcoin: We've reached the end of the postchain.

«‹›999 »