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pangstrom posted:Well, probably should mention they went from being worth nothing (10,000 bitcoins for a pizza in 2010, infamously) to $2 around the popular-with-libertarian (LIKE MY FRIEND JOE I AM NOT JEALOUS) time in 2011 to like $800 now. Like, stupid or not I wish I would have dumped more money into them (but I would have sold out at $300 because that's when Joe did). If it makes you feel any better, those bitcoins which are "worth" $800 are very difficult to actually turn back into can-pay-mortgage-with-it dollars. The media reports rarely mention that buy orders can take long enough for the price to drop, or can take weeks at a time, and are at risk of being flagged for suspcious activity, or that some exchanges have put a freeze on cash outs, or have waiting lists of several weeks, or that new ATMs going up in cities are one-directional (cash in, bitcoins out), etc. EDIT: Though, maybe it was easier 500 dollars ago. Still, big time strike-it-rich stories are the exception, not the rule. HackensackBackpack fucked around with this message at 22:29 on Jan 15, 2014 |
# ? Jan 15, 2014 22:18 |
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# ? May 16, 2024 16:34 |
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Leofish posted:If it makes you feel any better, those bitcoins which are "worth" $800 are very difficult to actually turn back into can-pay-mortgage-with-it dollars. The media reports rarely mention that buy orders can take long enough for the price to drop, or can take weeks at a time, and are at risk of being flagged for suspcious activity, or that some exchanges have put a freeze on cash outs, or have waiting lists of several weeks, or that new ATMs going up in cities are one-directional (cash in, bitcoins out), etc. I've got money in Ripple now but, while cool in concept (and better than the other newcomers IMHO), it's a pain in the rear end. Want all the problems of setting up your own server like in BBS times PLUS the problems of being a frontier bank in like Deadwood times? With none of the actual money? Join Ripple!
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# ? Jan 15, 2014 22:38 |
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Spacedad posted:Hahahaha holy crap I'm laughing near to tears here. I don't think their were actually any restrictions on programming other than "the fairness doctrine" which, if I remember correctly, required equal programming for both sides of the political spectrum; one hour of conservative programming had to result in one hour of liberal programming, they had make available time for a response from the other side. They did however, destroy the regulations that prohibited media consolidation and monopolies. Of course those few changes were enough to give us talk radio owned by Cumulus, Clear Channel, et al. and FOX. On the Bitcoin front, there is TV show called "Almost Human" that's really pretty good if you enjoy sci-fi. Its a twist on the cop buddy drama. The currency used in the show, especially for illicit transactions is referred to as "bitcoins".
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# ? Jan 15, 2014 22:40 |
It's a really funny and bad show, but there is also Minka Kelly. My friend is super into bitcoins and anytime something happens you know he's posting something like "posting from my laptop purchased with bitcoins "
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# ? Jan 15, 2014 22:46 |
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ayn rand hand job posted:http://www.foxnews.com/opinion/2014/01/15/in-bitcoin-trust/ I can't get over how this is written at a middle-school level
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# ? Jan 15, 2014 23:40 |
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One-two punch of Fox News stupidity. First, Stuart "I am Margaret Thatcher's zombie bollock" Varney reminding us how much fun it is to laugh at suffering poor people. https://www.youtube.com/watch?v=nGH1-TYoUBo And up next, Dr. Keith "evidence is for unmanly pussies" Ablow, making poo poo up in twisted pretzel logic to play defensive shill for the firearms industry. https://www.youtube.com/watch?v=Bs5VxBDaAJE
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# ? Jan 15, 2014 23:53 |
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Radish posted:I kind of avoided the whole bitcoins thing since it sounded so dumb but now that overstoked has picked them up I'm hearing real people start to mention them. Is there a high level explanation why it's as stupid as people here say they are?
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# ? Jan 16, 2014 00:17 |
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ReindeerF posted:One of the reasons anyone but The Daily Paul writes about them for reasons aside from ridicule and crime is because of the Winklevoss twins' ill-fated play on bitcoins. They're a honeypot for lovely journalists writing stories outside their depth in exactly the same way science stories are. Journalists don't know poo poo about science and they don't know poo poo about technology. They're here to tell you about !3D PRINTING! and !FUTURE CURRENCY!, though. They can interview an army of libertarian randroids itching to be quoted saying dumb poo poo in news articles. The recent bitcoin fad stories are just so because anyone who knew dick about it decided like 2 years ago that all of this was complete loving nonsense. Yeah, a few people made a lot of money. Bernie Maddoff also made a lot of money off his ponzi scheme too. The only 3D printer story actually worth a drat is the In the Line of Fire scenario where some nutcase prints a plastic gun to assassinate someone. The only place I've seen that covered is on Maddow while other journalists poo poo out the dumbest nonsense about it killing the manufacturing industry when you deliberately ignore the fundamental logical and economic concepts related to economies of scale. For anything that isn't a random plastic widget or a doorstop, it will almost always be cheaper to mass produce and supply via freight. There are specific tiny industries where JIT local manufacturing could conceivably be useful. That list of industries does not include the automotive industry.
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# ? Jan 16, 2014 02:12 |
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Crosspost from the SOROSCREW thread, I hope you don't mind: Actually, Rachel Maddow had a new take on why Christie would choose Ft. Lee as his target. It wasn't as simple as "Sokolov didn't support his candidacy in 2013," because lots of Dems didn't. Christie made a huge point that this mayor was never on his radar, ever. And Rachel did, as she does, find a more relevant, and recent (the day before) reason for this retaliation: (Sorry for citing CrooksAndLiars, it was the first link that came up on Google:) http://crooksandliars.com/2014/01/maddow-did-christie-retaliate-over-supreme quote:Maddow: Did Christie Retaliate Over Supreme Court Filibuster? I just want to say that, as far as I know, Rachel was the first to smell a rat in this bridge shutdown, and she and her show took a lot of derision for suggesting it was political retribution from CC. Then the emails came out and it proved her 100% right. The only questions now are a) will the staffers who got thrown out over this remain loyal enough to lie for him, and b) will the "NJ is Stronger Than The Storm" misuse of Federal Money equal or overcome the GWB scandal.
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# ? Jan 16, 2014 02:51 |
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My Q-Face posted:I love that "fiat money controlled by a central government" is somehow not sound. As if money of any kind would have any value without a government and bank declaring that it did. The best part is when bitcoin people complain about "fiat money" as if a bitcoin has tangible worth outside of being a currency. At least you can burn paper bills for warmth if it comes down to it. It's like the gold standard people all became bitcoin people and literally had no idea what they were originally mad about.
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# ? Jan 16, 2014 03:02 |
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Dr.Zeppelin posted:The best part is when bitcoin people complain about "fiat money" as if a bitcoin has tangible worth outside of being a currency. At least you can burn paper bills for warmth if it comes down to it. It's like the gold standard people all became bitcoin people and literally had no idea what they were originally mad about. But to get bitcoins you burn your video cards for warmth!
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# ? Jan 16, 2014 03:19 |
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mr. mephistopheles posted:Extremely Islamophobic? Yes. Hates "liberal Jews?" Yes. Racist? I don't know if I'd agree with that. Borders, Language, and Culture. Totally not racist. ayn rand hand job posted:Also this is not totally relevant but
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# ? Jan 16, 2014 03:37 |
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HootTheOwl posted:If someone showed me a link where I could buy these, I would. Only if you don't have to buy the bitcoins too.
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# ? Jan 16, 2014 04:16 |
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You may as well just open up Photoshop and make your own. They'd be equally as useful and you'd have the upside of not having to transact with a libertarian.
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# ? Jan 16, 2014 04:22 |
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I still can't get over that "Check when bill has been used" box in the corner. They have no clue why single-use bills might be a sub-optimal method to conduct transactions
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# ? Jan 16, 2014 04:38 |
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ToxicSlurpee posted:A common libertarian belief, and one that Ron Paul has a huge boner for, is returning to the gold standard and the time where ONLY precious metals counted as money. Because, you know, that went so well in the past and the gold standard is completely free of all corruption and manipulation. That and his heavy investment in gold
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# ? Jan 16, 2014 06:29 |
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Plinkey posted:But to get bitcoins you burn your video cards for warmth! You don't burn the video cards. You mine with them so much that you get heat stroke and brain damage.
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# ? Jan 16, 2014 06:51 |
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Bitcoins are tremendously stupid and woe be the schlub who isn't one of three people that gets wealthy from them.
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# ? Jan 16, 2014 06:56 |
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With the recent surge of mainstream interest bitcoins have become a mechanism for speculators and conmen to extract money from idiot internet libertarians. So pretty much exactly like gold.
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# ? Jan 16, 2014 07:20 |
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icantfindaname posted:With the recent surge of mainstream interest bitcoins have become a mechanism for speculators and conmen to extract money from idiot internet libertarians. So pretty much exactly like gold. Extract money how? I was under the impression it's enormously difficult to withdraw in a timely manner.
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# ? Jan 16, 2014 07:24 |
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nachos posted:Extract money how? I was under the impression it's enormously difficult to withdraw in a timely manner. Might depend on the exchange you're using (I know Mt.Gox's waiting period is absurd but others may not be). Also I assume there's a way to transfer bitcoin via a private seller so you can just bypass them entirely. Regardless of those people, the people mass-producing ASIC miners are raking in the cash over this I'm sure.
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# ? Jan 16, 2014 07:32 |
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I should clarify: the gentlemen who will make money off of bitcoins will not have any considerable fortune invested in them. They just benefit from the existence of the market.
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# ? Jan 16, 2014 07:38 |
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The Tulip Mania of our time.
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# ? Jan 16, 2014 07:45 |
Plinkey posted:The Tulip Mania of our time. The Great American Bubble Machine. Elevators to the top leaving daily! Please queue courteously. Or whichever way, really.
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# ? Jan 16, 2014 07:47 |
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Plinkey posted:The Tulip Mania of our time. I sure am glad I invested in all these Beanie Babies in 1998. They've got nowhere to go but up, up, up!
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# ? Jan 16, 2014 07:56 |
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Bubbles are the most effective form of capital redistribution known to man. It's just happens to redistribute it to the rich. They are like weird mirror images of Robin Hood.
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# ? Jan 16, 2014 07:57 |
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Rexicon1 posted:I should clarify: the gentlemen who will make money off of bitcoins will not have any considerable fortune invested in them. They just benefit from the existence of the market. Such as for example, laundering money through it or selling child pornography for bitcoins.
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# ? Jan 16, 2014 08:13 |
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nachos posted:Extract money how? I was under the impression it's enormously difficult to withdraw in a timely manner. I imagine there's a not-insignificant number of people who invested for a few months or so and then got the gently caress out understanding that it's a trainwreck, plus the people selling mining rigs, services like the exchanges, and competing bitcoins.
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# ? Jan 16, 2014 08:24 |
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Dr. Faustus posted:I just want to say that, as far as I know, Rachel was the first to smell a rat in this bridge shutdown, and she and her show took a lot of derision for suggesting it was political retribution from CC. Then the emails came out and it proved her 100% right. The only questions now are a) will the staffers who got thrown out over this remain loyal enough to lie for him, and b) will the "NJ is Stronger Than The Storm" misuse of Federal Money equal or overcome the GWB scandal.
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# ? Jan 16, 2014 10:14 |
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ErIog posted:They're a honeypot for lovely journalists writing stories outside their depth in exactly the same way science stories are. Journalists don't know poo poo about science and they don't know poo poo about technology. They're here to tell you about !3D PRINTING! and !FUTURE CURRENCY!, though. They can interview an army of libertarian randroids itching to be quoted saying dumb poo poo in news articles. The appropriate analogy is Second Life, which was never interesting to anyone but boomer journalists. For the analogy to be complete, something needs to be the Warcraft of digital currency though.
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# ? Jan 16, 2014 11:56 |
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Dr. Faustus posted:
Timeline of GWB events: http://www.nytimes.com/2014/01/13/nyregion/a-bridge-to-scandal-behind-the-fort-lee-ruse.html A rat was smelled from the beginning by area politicians. Bergen County Record reporters were on the story from September onwards. Then the Wall St. Journal and ultimately Rachel Maddow broke the story nationally after investigations flushed out the emails.
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# ? Jan 16, 2014 13:29 |
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ErIog posted:They're a honeypot for lovely journalists writing stories outside their depth in exactly the same way science stories are. Journalists don't know poo poo about science and they don't know poo poo about technology. They're here to tell you about !3D PRINTING! and !FUTURE CURRENCY!, though. They can interview an army of libertarian randroids itching to be quoted saying dumb poo poo in news articles. I got some bad news for you: Adobe is adding 3D printer support in Photoshop.
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# ? Jan 16, 2014 15:13 |
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I pass for a bitcoin fanboy here, but I agree with John R. Levine's summary that Krugman posted: http://krugman.blogs.nytimes.com/2013/12/29/an-ubernerd-weighs-in/ pangstrom fucked around with this message at 15:45 on Jan 16, 2014 |
# ? Jan 16, 2014 15:43 |
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pangstrom posted:I pass for a bitcoin fanboy here, but I agree with John R. Levine's summary that Krugman posted: In Bitcoin posts like this, I always check out the comments. This one provides loads of gold, there are a lot of 'Bitcoin is Gods work, you don't know poo poo Krugman' replies. And some Captain of Industry has 'like' voted every single one of these, you can see there is just one vote for most posts, must be the same guy.
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# ? Jan 16, 2014 15:49 |
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nachos posted:Extract money how? I was under the impression it's enormously difficult to withdraw in a timely manner. Bitcoins are extremely difficult to sell. Bitcoins are extremely easy to buy. They're also easy to counterfeit and steal if the constant hacks are any indication. Person one hacks and exchange, steals some bitcoins, sells them to person two who thinks they're going to be at $1,600 a pop any day know, you just wait and see.
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# ? Jan 16, 2014 17:13 |
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ToxicSlurpee posted:Bitcoins are extremely difficult to sell. Bitcoins are extremely easy to buy. They're also easy to counterfeit and steal if the constant hacks are any indication. Person one hacks and exchange, steals some bitcoins, sells them to person two who thinks they're going to be at $1,600 a pop any day know, you just wait and see. Bitcoins are nearly impossible to counterfeit. You're thinking more on the lines of scamming or tunning a con.
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# ? Jan 16, 2014 17:34 |
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It is way too tempting to start selling complete flim flam bitcoins to old people now that RW media is ramping up the love. Just a SD card with some zipped file with a dollar sign on it. It's like gold scams where the scammer needs even less substance. John Stossel and Fox News saying "We don't know what the gently caress this is but buy them because Obama and the dollar and the fed and booga booga" is basically a global siren call that their readers are ready to be fleeced.
Intel&Sebastian fucked around with this message at 17:50 on Jan 16, 2014 |
# ? Jan 16, 2014 17:46 |
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Intel&Sebastian posted:It is way too tempting to start selling complete flim flam bitcoins to old people now that RW media is ramping up the love. Just a SD card with some zipped file with a dollar sign on it. It's like gold scams where the scammer needs even less substance. John Stossel and Fox News saying "We don't know what the gently caress this is but buy them because Obama and the dollar and the fed and booga booga" is basically a global siren call that their readers are ready to be fleeced. Government handouts don't work - old people just get fleeced out of their checks made of YOUR TAX DOLLARS - Fox News 2020
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# ? Jan 16, 2014 18:28 |
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Gov't handout money can't help but go to the most ingenious and industrious. It's the invisible hand of the market.
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# ? Jan 16, 2014 18:42 |
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# ? May 16, 2024 16:34 |
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Phone posted:I got some bad news for you: Adobe is adding 3D printer support in Photoshop. 3D printers are pretty cool and let you more quickly and cheaply do prototyping over traditional injection molding / machining techniques. They are great for prototypes, certain restricted sale items, and other low volume issues. However, when talking about scale of economy, it quickly becomes that by the time you even minor production runs of say 50-100 items, it quickly becomes cheaper to use a company who specializes in making items for you.
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# ? Jan 16, 2014 20:27 |