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It's hard to believe anyone who would know what the halving is waiting until the halving to buy more which is what would drive the price up. Mining revenue is what gets affected so either they just make less money, increase fees, or pressure for exchange fraud again. Of course all of these are good for Bitcoin.
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May 5, 2020 19:28
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Gaukler posted:I can’t fathom why people think the halving is going to increase the price. Previous price increases around halving have definitely been firmly in “correlation is not causation” territory. Because nothing about the bitcoin market makes any kind of rational sense. If oil production dropped by half, we'd expect the cost of oil to go up. In bitcoin land, there is no supply or demand, just people running endless scams on everyone ignorant enough to put cash money into the market. You might as well rummage through the entrails of a chicken to divine next months' price of bitcoin for all the good it'll do you. Once you've internalized the magic thinking, the sky is the limit on what you're willing to believe vis a vis bitcoins. Like after the Playpen busts, there were articles on how it was good for bitcoin....somehow. Most of them were "yes, CP bad", but couldn't help themselves, and quickly went on to say "but look at how effectively bitcoin facilitated transactions in the market!".
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May 5, 2020 19:36
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Can anyone link their favorite bitcoin shutdown arguments? I want to be able to reply to bitcoins idiots in my personal life succinctly and without effort.
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May 5, 2020 20:52
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Flowers for QAnon posted:Can anyone link their favorite bitcoin shutdown arguments? I want to be able to reply to bitcoins idiots in my personal life succinctly and without effort. "Bitcoin uses more energy than Demark, and half of that is used to aid and abet fraud, extortion, child pornography, terrorism, and drug sales. If you're into that kind of thing, have you heard of the wonderful world of conflict minerals? There are some very good prices on diamonds and cobalt from some nice gentlemen in the Congo you might be interested in."
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May 5, 2020 20:56
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Methylethylaldehyde posted:"Bitcoin uses more energy than Demark, and half of that is used to aid and abet fraud, extortion, child pornography, terrorism, and drug sales. If you're into that kind of thing, have you heard of the wonderful world of conflict minerals? There are some very good prices on diamonds and cobalt from some nice gentlemen in the Congo you might be interested in." I like this quite a bit
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May 5, 2020 21:11
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Methylethylaldehyde posted:"Bitcoin uses more energy than Demark, and half of that is used to aid and abet fraud, extortion, child pornography, terrorism, and drug sales. If you're into that kind of thing, have you heard of the wonderful world of conflict minerals? There are some very good prices on diamonds and cobalt from some nice gentlemen in the Congo you might be interested in." This + the stuff about how few transactions it can actually handle. ie: If everyone used it, no one would be able to use it. The more people who use it, the less effective it becomes for anything other than wasting electricity.
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May 5, 2020 21:12
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Flowers for QAnon posted:Can anyone link their favorite bitcoin shutdown arguments? I want to be able to reply to bitcoins idiots in my personal life succinctly and without effort. If someone responds to that by saying 'lightning network' you should know that that is a thing that doesn't exist/work, and cannot work as they claim without major breakthroughs in technology that would make Bitcoin obsolete anyway.
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May 5, 2020 21:22
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One of my favorites but more about the libertarian dream of "I will be the new god-king-philosopher-emperor of the world with my horde of bitcoins and each satoshi will be worth one billion useless dollars" and "CRYPTO ANARCHISM IS BESTEST!!!!" is that anarchy is fourth grade dodgeball gym class all day every day
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May 5, 2020 22:19
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Methylethylaldehyde posted:"Bitcoin uses more energy than Demark, and half of that is used to aid and abet fraud, extortion, child pornography, terrorism, and drug sales. If you're into that kind of thing, have you heard of the wonderful world of conflict minerals? There are some very good prices on diamonds and cobalt from some nice gentlemen in the Congo you might be interested in." Conflict minerals might be a better trade medium than butts, because they carry an implicit value that buttcoins do not by virtue of beauty or rarity, and also they don't generally use as much energy as Denmark.
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May 6, 2020 13:30
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The energy burned and lack of environmental regulation for conflict minerals isn't insignificant, you're going to get hell of well actualied. Meanwhile sandwiches on the other hand...
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May 6, 2020 15:14
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my bud whos into btc now has been trying for me to also get into it, some keypoints: that you cant tamper with btc since you cant print it and smth about the market cap at 21M pump and dump is just supply and demand He also got into twitter specifically for trading 
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May 6, 2020 16:40
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I have a new religion starting today (self.Bitcoin) submitted 2 hours ago by Novacdino From now on if anybody asks me if I'm religious I will say yes and refer people to the Bitcoin white paper. I believe that God sent Jesus down to earth 2000 years ago to end wars and suffering. The plan didn't pan out, so 2000 years later God set plan B in motion through the prophet Satoshi, still anonymous to this day. God gave us Bitcoin to end the perpetual wars enabled by the ability to create infinite debt through the use of Fiat currency. Endless wars and suffering can be brought to a halt if through the gospel of Satoshi, we spread the good news about Bitcoin, the new covenant and the plan for peace and prosperity for people world wide. The geek shall inherit the earth. God bless Bitcoin Raverrevolution 2 points an hour ago* OMG man!!! Just yesterday I was telling my friends that Bitcoin is the second coming of Christ and they all thought I was going nuts. LOL the story is the same as Christ. It came from the unknown and was just born. Bitcoin is like Christ coded and computerized. We are the believers. Bitcoin is constantly crucified and comes back from the dead to live again. It will bring about peace in the world. Lead us into halvation and deliver us from evil, amen!!
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May 6, 2020 17:35
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Methylethylaldehyde posted:You might as well rummage through the entrails of a chicken to divine next months' price of bitcoin for all the good it'll do you.
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May 6, 2020 17:45
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Honest Thief posted:He also got into twitter specifically for trading Bitcoin has so much to answer for.
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May 6, 2020 18:14
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Honest Thief posted:my bud whos into btc now has been trying for me to also get into it, some keypoints: hope you're ready to  when he turns into an purestrain internet crazy and goes full conspiracy mode on ya
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May 6, 2020 18:52
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CannonFodder posted:I have rummaged through a bucket of chicken remains and found that the price of Bitcoin next month will be delicious. Finger licking good, in fact. Rolling bones: delicious, tasty, accurate in and of itself (when used to predict how full of chicken you are)
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May 6, 2020 19:17
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Honest Thief posted:my bud whos into btc now has been trying for me to also get into it, some keypoints:
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May 6, 2020 20:57
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I know someone people enjoy the drama and getting to dunk on him from the foul line, but lord is this thread better without the bad faith actor filling page after page after page with bad charts and circular reasoning. That has to be a candidate for longest continual meltdown in SomethingAwful history. In other news, he was right about everything, and we were wrong, because Bitcoin is up to like $9,250. Next stop: moon.
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May 6, 2020 21:35
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Veni Vidi Ameche! posted:I know someone people enjoy the drama and getting to dunk on him from the foul line, but lord is this thread better without the bad faith actor filling page after page after page with bad charts and circular reasoning. That has to be a candidate for longest continual meltdown in SomethingAwful history. And FC was probed for that stuff, I’m not going to ban someone for bad opinions. But trolling, and circle jerk crap gets met with cat jail which is actually worse for a rich bitcoin er.
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May 6, 2020 22:04
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Burt Sexual posted:And FTFY
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May 6, 2020 23:02
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Veni Vidi Ameche! posted:I know someone people enjoy the drama and getting to dunk on him from the foul line, but lord is this thread better without the bad faith actor filling page after page after page with bad charts and circular reasoning. That has to be a candidate for longest continual meltdown in SomethingAwful history. But lets be honest, people who post in these threads are either crypto maximalists or people here to make fun of them. The people that really made money did so by getting out entirely or just keeping some for gambling, the people that lost money don't really post at all, so neither will argue for others to buy in. I would be interested in the opinions of people including cryptocurrency as part of a larger diversified investment or technology strategy but such people often just don't know how it works and bought for buzzwords. Veni Vidi Ameche! posted:In other news, he was right about everything, and we were wrong, because Bitcoin is up to like $9,250. Next stop: moon.
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May 6, 2020 23:03
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Burt Sexual posted:And FC was probed for that stuff, I’m not going to ban someone for bad opinions. But trolling, and circle jerk crap gets met with cat jail which is actually worse for a rich bitcoin er. Yes, thank you. I’m glad you did. When threads get bad, I just wander off to other threads and come back when things are better, but it’s frustrating when an otherwise good thread turns circular for that long. CampingCarl posted:I would be amazed if that was even in the top 10 for longest meltdown on SA. Maybe it depends on how you count, is Seraph one meltdown or many? I am counting a meltdown as spanning more less a single topic from beginning to end, without significant interruption. If a poster were probated or banned for arguing about something, then came right back to pick up where he or she left off, I would score that as one meltdown. If the poster comes back to argue about something else, I would count it as two. If a poster came back after month or two and picked up where he or she left off, I would count that as two meltdowns. Not that it matters. It’s true that the Bitcoin defenders we see in here are likely to be the lucky ones who think their genius, or the genius of Bitcoin, is why they hit the lottery. It’s that, and outright liars. I don’t think you understand. This time is different, and we’re all going to be weeping into our generic coffees when Bitcoin goes straight past the moon and onto Mars. If we had bought Bitcoin, we could have been weeping into brand-name coffee.
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May 6, 2020 23:14
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CampingCarl posted:I would be amazed if that was even in the top 10 for longest meltdown on SA. Maybe it depends on how you count, is Seraph one meltdown or many? Nah, there’s people that post here just loving around in btc for fun. All are welcome.
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May 6, 2020 23:17
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Euronomynous melted down in waves for over five years.
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May 6, 2020 23:17
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Burt Sexual posted:Nah, there’s people that post here just loving around in btc for fun. All are welcome. Some people touch the poop hoping it's actually purestrain gold. Some touch the poop because it's funny. Some touch the poop because they like using their mouth to clean off their fingers. Others just stand, slackjawed on the sidelines, hoping for the first or second, but getting the third kind more often than not. But all are welcome here. Methylethylaldehyde fucked around with this message at 01:13 on May 7, 2020 |
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May 7, 2020 01:10
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Some people are jealous of monkeys and throw their poop all over the place in the hopes someone will validate their stench.
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May 7, 2020 08:17
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EorayMel posted:I have a new religion starting today (self.Bitcoin) Messiahcoin
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May 7, 2020 10:48
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Klyith posted:hope you're ready to i dont think he "gets" internet humour and or crazyness, he's kinda like a late 20s boomer in that regard vortmax posted:There can only ever be 21,000,000 bitscoin! Except for that one time when someone created billions out of nowhere. And the miners could change their minds and make more buttcoins after the 21M limit. But they won't because reasons. what's that now, they managed to break it?
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May 7, 2020 16:26
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orange juche posted:Messiahcoin
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May 7, 2020 16:30
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Honest Thief posted:i dont think he "gets" internet humour and or crazyness, he's kinda like a late 20s boomer in that regard
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May 7, 2020 16:32
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vortmax posted:There can only ever be 21,000,000 bitscoin! Except for that one time when someone created billions out of nowhere. And the miners could change their minds and make more buttcoins after the 21M limit. But they won't because reasons. Could you elaborate on this? Genuinely curious, as most BTC research (Web searches) is impeded by “pump” marketing/true believer bullshit.
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May 7, 2020 20:40
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20% unemployment in the US. Tons of death and a lot less $$ to go around the world in the next year or two. Bitcoin go up! Death and suffering are good for bitcoin. Even more evidence it is a bad toy for complete poo poo tools.
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May 7, 2020 20:54
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Flowers for QAnon posted:Could you elaborate on this? Genuinely curious, as most BTC research (Web searches) is impeded by “pump” marketing/true believer bullshit. Which bit? There was an incident in the early days of bitcoin where someone exploited a bug in bitcoin's implementation to get billions of bitcoins. And the miners can decide to implement different rules any time they want (e.g. "blocks are now a maximum of 10 MB in size", "the block reward is now back to 50 BTC and halving happens every 10 years instead of every 4"), it's just a fork of the network. Forks have already happened in bitcoin's history, multiple times.
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May 7, 2020 22:33
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Everything in Bitcoin is based around the longest chain of valid blocks is correct. If enough miners want to change the rules of what is a valid block they can. Miners also receive income from blocks. Of course this will never be a conflict of interest that might be to the detriment of users, free market and all.
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May 7, 2020 23:14
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CampingCarl posted:Everything in Bitcoin is based around the longest chain of valid blocks is correct. If enough miners want to change the rules of what is a valid block they can. Right, and if someone feels strongly that the old rules are better they can keep running a client that doesn't recognise the new rules - or mine according to the old rules. This leads sooner or later to a fork, where one group is broadcasting blocks that the other group looks at, says "this block doesn't follow the rules" (or is descended from an older block that likewise didn't follow the rules and isn't legitimately part of any chain) and therefore just treats as spam
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May 7, 2020 23:43
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yeah what they said
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May 8, 2020 04:23
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Slightly Absurd posted:I doubt it's really all luck. I imagine there are a lot of Fleetwoods And Zaurgs out there happily throwing their TrumpBux at ButtCoins. I'd imagine the price will probably keep climbing to one of their favorite all-time numbers, 10k, then we'll probably see a pretty big sell off, I'd guess Oh look, it hit 10k today it immediately started dead catting down again
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May 8, 2020 05:33
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So is a 51% attack basically Means forcing a fork?
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May 8, 2020 05:49
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Flowers for QAnon posted:So is a 51% attack basically Means forcing a fork? More or less-ish? You can spend your coins in transaction A, then not spend them in transactions B and C. If you do it fast enough the entire chain rolls back A as a dead block and you get to keep the weed you bought in transaction A, and the coins in blocks B and C.
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May 8, 2020 07:41
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Slightly Absurd posted:I doubt it's really all luck. I imagine there are a lot of Fleetwoods And Zaurgs out there happily throwing their TrumpBux at ButtCoins. I'd imagine the price will probably keep climbing to one of their favorite all-time numbers, 10k, then we'll probably see a pretty big sell off, I'd guess juuust crested 10k at 23:45 UTC last night this means nothing, because that was the work of two loving billion tethers being pumped into the price in the past month and of course because nothing matters
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May 8, 2020 11:23
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