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gradenko_2000
Oct 5, 2010

HELL SERPENT
Lipstick Apathy
The real bitcoin cashout is the schadenfreude from That One Guy who's a bitcoiner that's going to lose a ton of money

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PIZZA.BAT
Nov 12, 2016


:cheers:


rudatron posted:

You guys aren't getting it

The bitcoin economy doesn't actually generate value, and (US) cash inflow has to match cash outflow, which includes the electricity costs of running the drat rigs.

So, conceivably you might have been able to cash out for a profit, but probability suggests your more likely to be the mark: either you're someone who speculated at the wrong time, or you're going to be left with a hoard of useless binary digits when it crashes.

yeah exactly

Jose
Jul 24, 2007

Adrian Chiles is a broadcaster and writer

rudatron posted:

Its like wringing your hands over not buying a lottery ticket. The game is rigged from the start.

unless you wanted lots of drugs. like i have no idea what drugs cost using bitcoin but if i could have £50k worth of bitcoin for gently caress all then thats a lot of drugs regardless

Prav
Oct 29, 2011

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

logikv9
Mar 5, 2009


Ham Wrangler

Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

SKULL.GIF
Jan 20, 2017


Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

Pick
Jul 19, 2009
Nap Ghost

Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

Accretionist
Nov 7, 2012
I BELIEVE IN STUPID CONSPIRACY THEORIES

Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

Rated PG-34
Jul 1, 2004




Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

univbee
Jun 3, 2004




Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

Tiler Kiwi
Feb 26, 2011

man for college i read about this and gave the opinion in my exam paper that was basically "well i mean, the prior states didn't do this stuff and they collapsed in part due to the landlords petty power mongering so uh, i guess it worked out???"

i got like a 110% in that class, lol

Taintrunner
Apr 10, 2017

by Jeffrey of YOSPOS
facebook just tried to sell me a car



jesus christ

Shear Modulus
Jun 9, 2010



Taintrunner posted:

facebook just tried to sell me a car



jesus christ

you wouldn't download a car

skaboomizzy
Nov 12, 2003

There is nothing I want to be. There is nothing I want to do.
I don't even have an image of what I want to be. I have nothing. All that exists is zero.
I keep getting ads for heavily used appliances, usually in Spanish

I have never posted on FB in Spanish, nor does anyone I follow

logikv9
Mar 5, 2009


Ham Wrangler

Taintrunner posted:

facebook just tried to sell me a car



jesus christ

hello fellow jerseyan

Shear Modulus
Jun 9, 2010



logikv9 posted:

hello fellow jerseyan

condolences

anime was right
Jun 27, 2008

death is certain
keep yr cool

Taintrunner posted:

facebook just tried to sell me a car



jesus christ

Haha why do so many of us live in this garbage area

Rhesus Pieces
Jun 27, 2005

skaboomizzy posted:

I keep getting ads for heavily used appliances, usually in Spanish

I have never posted on FB in Spanish, nor does anyone I follow

you're doing something right

The Ol Spicy Keychain
Jan 17, 2013

I MEPHISTO MY OWN ASSHOLE

anime was right posted:

Haha why do so many of us live in this garbage area

yea ive noticed there seem to be a lot of NJ goons around here

theres something about the garden state that radicalizes people :thinking:

anime was right
Jun 27, 2008

death is certain
keep yr cool

Scent of Worf posted:

yea ive noticed there seem to be a lot of NJ goons around here

theres something about the garden state that radicalizes people :thinking:

im surrounded by neolibs, send help

Taintrunner
Apr 10, 2017

by Jeffrey of YOSPOS
I live on the lower east side, my regards for the dumpster inhabitants

got any sevens
Feb 9, 2013

by Cyrano4747

Taintrunner posted:

I live on the lower east side, my regards for the dumpster inhabitants

woah, throwin a lot of shade on jersey here

Willie Tomg
Feb 2, 2006
jerseys shady as poo poo, we're not making the rules here ITT

Agronox
Feb 4, 2005
north jersey doomsday thread

logikv9
Mar 5, 2009


Ham Wrangler
don't gently caress up murphy you little poo poo

Mycroft Holmes
Mar 26, 2010

by Azathoth
gabagool doomsday thread

gradenko_2000
Oct 5, 2010

HELL SERPENT
Lipstick Apathy
https://twitter.com/ANCALERTS/status/933880732904128512

quote:

Bitcoin trading is "hard to cheat" and trading of digital currencies have not been hacked in the last decade since it was founded, a cryptocurrency pioneer in the Philippines said Friday.

Blockchain, which tracks bitcoin transactions, functions like a public ledger, said Satoshi Citadel Industries founder Miguel Antonio Cuneta. The company is building the Blockchain ecosystem in the country.

"It's really hard to cheat. If you try to make fake bitcoin transaction, everyone will see it and they will not approve it," Cuneta told ANC's Early Edition.

ShutteredIn
Mar 24, 2005

El Campeon Mundial del Acordeon

Prav posted:

tiny poor brain: this scam is only useful for money launderers and criminals
big rich brain: this scam is useful for money launderers and criminals

crazy cloud
Nov 7, 2012

by Cyrano4747
Lipstick Apathy

Rhesus Pieces posted:

a "currency" based on literally nothing but wasted energy

The US dollar?? :smugdog:

Alpha Mayo
Jan 15, 2007
hi how are you?
there was this racist piece of shit in your av so I fixed it
you're welcome
pay it forward~
I legit believe Bitcoin is an example of trickle-down economics. The rich literally have no where else to put their money so it trickles down to exotic/retarded assets like Bitcoin and companies that use words like "blockchain" in their name

Karl Barks
Jan 21, 1981

Alpha Mayo posted:

I legit believe Bitcoin is an example of trickle-down economics. The rich literally have no where else to put their money so it trickles down to exotic/retarded assets like Bitcoin and companies that use words like "blockchain" in their name

that's not really what trickle down economics is

Vermain
Sep 5, 2006



that's less "trickle down" economics and more "a fool and his money are soon parted" economics

these dudes aren't heroes of the working class, they're already comfortably well-off scam artists who know how to activate the lizard portion of VC brains to get them to toss their money for long enough to make a clean getaway

Vermain fucked around with this message at 07:17 on Nov 24, 2017

Thug Lessons
Dec 14, 2006


I lust in my heart for as many dead refugees as possible.
Bitcoin's meteoric rise in value is merely a sign of its imminent demise.

Rand alPaul
Feb 3, 2010

by Nyc_Tattoo
Trickle Down Economics is the financier class urinating on the workers. Which is why Donald Trump's piss tape is proof that Trickle Down works.

Vermain
Sep 5, 2006



Thug Lessons posted:

Bitcoin's meteoric rise in value is merely a sign of its imminent demise.

this is GREAT news for bitcoin!!!!

Alpha Mayo
Jan 15, 2007
hi how are you?
there was this racist piece of shit in your av so I fixed it
you're welcome
pay it forward~

Karl Barks posted:

that's not really what trickle down economics is

I didn't mean the official term (giving the rich capitalists more money will make its way to the working class), which doesn't actually exist, but more like 'capitalists will throw money into more and more ridiculous investments' as those investments become overvalued, because they run out of places to put their money.

They throw money at undervalued->appropriately valued->overvalued->extremely overvalued->bitcoin->bitcoin forks. Bitcoin is pure speculation with no native value. Right now, Bitcoin market cap is $132 billion., That's about the size of IBM or McDonald's, corporations that hold assets, deliver products and sometimes profit/dividends. The only value with Bitcoin is speculated growth.

rudatron
May 31, 2011

by Fluffdaddy

Thug Lessons posted:

Bitcoin's meteoric rise in value is merely a sign of its imminent demise.
are you aware of the history of speculation bubbles, because if not, i've got some tulips to sell you

Tiberius Christ
Mar 4, 2009

why these bitcoins can only go up, Up and UP!

Karl Barks
Jan 21, 1981

Thug Lessons posted:

Anyone who thinks they can predict the future of the economy is full of it.

Thug Lessons posted:

Anti-crypto people are cool because they manage to convince themselves people have somehow lost money (or are perpetually about to) when the stuff's gone from $0.03 to $8000 in like five years.

Thug Lessons posted:

Bitcoin's meteoric rise in value is merely a sign of its imminent demise.

thug lessons is trolling this thread fer sure

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Ruzihm
Aug 11, 2010

Group up and push mid, proletariat!


Thug Lessons posted:

Bitcoin's meteoric rise in value is merely a sign of its imminent demise.

Meteors don't rise :thunk:

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