Gutcruncher posted:

But if I want new coffee experiences why do I also need a scam jpg?

deep dish peat moss posted:

when crypto people say decentralized they really just mean all the rich people who control it never have to meet up and can live anywhere, it's like a job posting saying it's 100% remote, but for the rich

NorgLyle posted:

I was watching a docuseries on HBOMax about 'anarchists' and was somewhat surprised to learn the vast preponderance of them are rich guys who don't want to pay taxes.

Aramis posted:

Well, to be fair on the second point, there "is" something there to prevent it in the sense that validators are incentivized to not gently caress with the system as it would dramatically devaluate their assets. After all, relying on actor rationality is a well-established way to provide stability.

It isn't, in case anyone would dare to read that as anything but sarcasm.

JohnCompany posted:

It would dramatically devalue someone's assets, the moment there are enough non-PoS assets on the other side of open buy orders to make a 50%+1 attack worth it.

Edit: didn't even notice the dual meaning of PoS in there, leaving it because if anything it improves the point.

Aramis posted:

The theory is that the moment someone pulls off something like this, every single Eth drops in effective value, including the staked ones. The validator has a literal vested interest in not doing it, since they need to have a lot of PoS assets in the first place to be in this position.

Eths are only worth anything as long as the system "works". A 50%+1 attack would be direct observable evidence that it doesn't.

presend.io/ posted:

CRYPTOCURRENCY TRANSACTION PROTECTION SOFTWARE

-snip-

the ONLY Cryptocurrency Transaction Protection Software Known to Mankind!

PreSend is the first multi-chain fully integrated wallet software to assume the burden and responsibility of ensuring that transferred funds across the blockchain arrive successfully at the benefactor’s wallet address (on the correct blockchains), while also stopping transactions that are sent on incorrect chains.

notwithoutmyanus posted:

How does nobody get a scam vibe out of this poo poo? I had someone I know suddenly gain interest in it. It's like not even an attempt at a ponzi here.

https://www.youtube.com/watch?v=rJQ7DG7IJ38
I think they paid a 12 year old to promote it, as well. https://www.youtube.com/watch?v=cjA6XSh0qsE

It's actually more of a thought process for me to try to envision how someone thought this was unique. lol.

notwithoutmyanus posted:

How does nobody get a scam vibe out of this poo poo? I had someone I know suddenly gain interest in it. It's like not even an attempt at a ponzi here.

https://www.youtube.com/watch?v=rJQ7DG7IJ38
I think they paid a 12 year old to promote it, as well. https://www.youtube.com/watch?v=cjA6XSh0qsE

It's actually more of a thought process for me to try to envision how someone thought this was unique. lol.

King Carnivore posted:

I saw a homeless person wearing an ape shirt on the bus. That was peculiar.

notwithoutmyanus posted:

I think they paid a 12 year old to promote it, as well.

notwithoutmyanus posted:

Bitcoin had the biggest inflows to dump Bitcoin on exchanges I've ever seen in 2 years of monitoring this data. If there's ever a time to expect butts are about to go *down* over the next week or two, this is it. Last thing even close was March.

CryptoQuant Alert, [9/13/22, 6:54 AM]
[ Forwarded from CryptoQuant Alert ]
🚨🚨🚨 10,874.98 #BTC ($243,556,778)
aggregated inflows to #Coinbase Pro

CryptoQuant Alert, [9/13/22, 6:54 AM]
[ Forwarded from CryptoQuant Alert ]
🐳🐳🐳 9,991.07 #BTC ($225,385,428)
aggregated inflows to #Huobi Global

CryptoQuant Alert, [9/13/22, 6:54 AM]
[ Forwarded from CryptoQuant Alert ]
🐳🐳🐳 30,897.13 #BTC ($696,591,441)
aggregated inflows to #Huobi Global

Ups_rail posted:

Thanks for posting this

Do you have anyway to find out if these are the bitcoins from the MtGox settlement?

poo poo thats like a billion dollars in butts

PhazonLink posted:

dumb question but does the magical doomsday spell of 50+% attack/thing exists, like what stops all the biggest players from just getting into a static stasis the instant this is implemented?

HappyHippo posted:

Wow, such a great inflation hedge!

ekuNNN posted:

HappyHippo posted:

Wow, such a great inflation hedge!

Nuts and Gum posted:

Anyone following the Ethereum ”merge” to proof of stake? It’s supposed to cut down on energy consumption by “99%”. This has been delayed a few times but is supposedly happening tomorrow.

I’m not sure how this fundamentally changes much when it’s not helping address the lack of efficiency of transactions per sec, but I’m just a normie

Mozi posted:

i was interested until i realized it wasn't proof of steak

Nuts and Gum posted:

Anyone following the Ethereum ”merge” to proof of stake? It’s supposed to cut down on energy consumption by “99%”. This has been delayed a few times but is supposedly happening tomorrow.

I’m not sure how this fundamentally changes much when it’s not helping address the lack of efficiency of transactions per sec, but I’m just a normie

Nuts and Gum posted:

Anyone following the Ethereum ”merge” to proof of stake? It’s supposed to cut down on energy consumption by “99%”. This has been delayed a few times but is supposedly happening tomorrow.

I’m not sure how this fundamentally changes much when it’s not helping address the lack of efficiency of transactions per sec, but I’m just a normie

Somfin posted:

It's gonna inject a huge amount of panic into the market.

quote:

Proof crypto is dead (a professor’s perspective)

So, I teach money and banking at a regional public university and today was the first day I taught about cryptocurrency. I think the whole thing is fascinating, although I’m 100% against the idea that it’s some revolutionary tech. At best, it’s the equivalent of inventing a better debit card. At it’s worst, it’s a devolution in technology which wastes energy and human brainpower.

Although I am a hater, I’m still cognizant of the fact that if everyone chooses to use bitcoin or some other crytpo, then bam…that’s our new currency. This is the pot of gold investors are seeking. They pretty much know that the technology is about as revolutionary as a tootsie roll, but they don’t care because with money as a medium of exchange, all that matters is that people decide to use it as their primary medium of exchange. Hell, we’ve used sea shells and massive round stones as money before, so there’s that. It’s a self-fulfilling kind of thing, and there is still a non-zero chance that humanity is really stupid enough to buy into this.

So, I’m still wondering and still a little worried about all about this, up until today. Today, I’m super-excited to teach everything I’ve learned about crypto up to this point. How it’s basically just a ledger, like an excel file with accounting info, and that you can write new entries but not delete anything. This whole thing was even couched in how we are evolving toward less involvement of banks in the payments system. And up to today, these students had been really interested in what I was teaching. I was doing okay, but really the class was good because they were wanting to know more about what I was teaching. That is until I started teaching about crypto. These kids’ eyes just glazed over as if I was their drunk uncle ranting about Biden on Christmas eve. I honestly tried to explain the “cool” parts of the technology, The peer-to-peer aspects, how it was file sharing. I could see in their eyes, it was as if I was just re-traumatizing them all somehow.

So that’s it. That’s my story. This is how I know bitcoin and probably all crytpo is dead. It’s a middle-aged, get-rich-quick pipe dream and these kids are simply not having it. I feel dirty for even trying to treat it as if it’s something relevant or with potential. I probably hurt my own credibility just trying to teach it for 15 minutes. I can’t imagine how these San-Fran silicon valley freaks are doing. Those kids are super smart and savvy out there. The prof’s trying to have a class on this are likely seen as the whores of their institutions by the student body. There’s not a doubt in my mind after today.

Main Paineframe posted:

the entire reason bitcoin mining wastes so much power is to make a 50% attack really loving expensive to run

Salt Fish posted:

All the miners are going to fork into etherium 3.0 and cut vitalik out of it.

Durzel posted:

Has there been any attempt at making a credible argument for doing it, or is it just dancing around "we want to be able to burn energy to make funbux" ?

You'd think how often these folk talk about ~institutional interest~ and being the currency of the future that negligible power usage would actually be a good thing, championed even. Otherwise one has to wonder if all any of this is actually about is enriching oneself at whatever cost? Surely it can't be about that, can it?