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thread https://twitter.com/TedOnPrivacy/status/940588631709896704
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Dec 13, 2017 00:43
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Uranium 235 posted:lol yeah cryptos are terrible currencies at the moment. maybe one day there will be a good one but they have a long way to go I expect there'll be a whole bunch, just like there are lots of different credit card companies, national currencies, customer rewards programs, etc today. QuarkJets posted:I mean I wouldn't rule that out but the bitcoin price commonly pulls all sorts of illogical bullshit that makes no sense To the average bitcoiner, a split in the currency just meant they had twice the money. And a thing is worth what market participants think it's worth so buttcoin magic happens. in totally non-stupid internet money news, ETH hits a new high of $657
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Dec 13, 2017 00:53
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lots of that sweet sweet global QE money flowing into crypto
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Dec 13, 2017 00:55
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he makes some good points and has some legitimate complaints, but i will always lol when people complain about having to give a "shady exchange" their personal information as part of that exchange's KYC and AML compliance if they want to try using an exchange that doesn't comply with KYC and AML then be my guest
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Dec 13, 2017 00:56
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treerat posted:I expect there'll be a whole bunch, just like there are lots of different credit card companies, national currencies, customer rewards programs, etc today. 
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Dec 13, 2017 00:57
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Uranium 235 posted:he makes some good points and has some legitimate complaints, but i will always lol when people complain about having to give a "shady exchange" their personal information as part of that exchange's KYC and AML compliance I'm fairly sure half the time people aren't complaining about needing to give the personal information for KYC and AML compliance, but complaining that crypto exchanges don't have a good track record of not being shady.
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Dec 13, 2017 01:11
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Crypto kitties are worth a bitcoin in 2018. Lock it in
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Dec 13, 2017 01:15
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Uranium 235 posted:over $700 on gdax ETH/BTC charts have reversed BTC's yearly gain. smug mode activate
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Dec 13, 2017 01:21
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A lot of the responses to my post make it sound like you can't actually sell the bitcoins for real money or find a way to get legitimate money from it. Why is it so popular then if that is true?Solice Kirsk posted:Well, if it's anything like selling Legendaries on Diablo 2's closed servers...... I'm not familiar with that.
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Dec 13, 2017 01:48
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treerat posted:ETH/BTC charts have reversed BTC's yearly gain. smug mode activate It’s happening The Flippening 
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Dec 13, 2017 01:48
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punk rebel ecks posted:A lot of the responses to my post make it sound like you can't actually sell the bitcoins for real money or find a way to get legitimate money from it. Why is it so popular then if that is true? You can sell the bitcoins or get money from them but it is way more of a pain in the rear end than, for instance, buying a hundred shares of Apple and then selling them six months later. Also, while you might lose money doing that, you would probably get 'the price of the Apple shares when you sold them, less various fees you knew about going in,' while with bitcoins there is a high persistent chance of "you get nothing, because the money was stolen"
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Dec 13, 2017 01:57
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punk rebel ecks posted:A lot of the responses to my post make it sound like you can't actually sell the bitcoins for real money or find a way to get legitimate money from it. Why is it so popular then if that is true? You really can up to $10k per day relatively easily it seems, and I'm a huge critic without any butts. I think most rational early adopters cashed out well before $100k in profits, regardless of when they bought in. I somehow doubt there are people sitting on 100s of bitcoins other than those who are already millionaires. It's been established that 99% of the reddit bitcoin posters have less than a butt.
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Dec 13, 2017 01:57
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Andy Dufresne posted:You really can up to $10k per day relatively easily it seems, and I'm a huge critic without any butts. https://www.thedailybeast.com/want-to-launder-bitcoins-how-crooks-are-hacking-itunes-and-getting-paid-by-apple quote:Even though drug dealers and cybercriminals rake in mountains of the digital currency Bitcoin, crooks still face a key problem: how to convert that bitcoin, which at the time of writing is valued at around $16,000 per unit, into something much more usable, such as dollars.
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Dec 13, 2017 02:01
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The $10,000 limit is because the exchanges, which have developed automated systems to match orders and verify KYC/AML, are too lazy to develop an automated system for filing currency transaction reports. If they have KYC/AML, they already have all the information they need to let you withdrawal more than $10,000 at once. But some exchanges, like itBit, let you withdrawal more than $10,000 at a time. And you could always sell across multiple exchanges as once, or with licensed and bonded money transmitters on LocalBitcoins and Paxful.
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Dec 13, 2017 02:16
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Looks like Dogecoin is going up too. Is there a way to buy doge coin for USD, or can you only buy it for other cryptos. You used to be able to buy it using dogecoin wallet app but that feature got removed for some reason, and you can only exchange other coins into dogecoin.
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Dec 13, 2017 05:04
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Computer Serf posted:except so far it can't do anything interesting without an external trusted centralised source of data to trigger the programs, at which point why expose the risks of irreversible fuckups in experimental code yes, like i said, it's a complete and utter failure. i'm just saying that at least it's attempting to do something useful, bitcoins "proof of work" is just randomly generating numbers, it's pure waste
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Dec 13, 2017 05:47
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Reminder that this is a thing And they've successfully found over a dozen private keys
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Dec 13, 2017 06:29
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Didn't someone steal like a thousand butts by scanning for wallets generated from Ayn Rand quotes?
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Dec 13, 2017 06:36
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Hoodwinker posted:If only we had our posts on the blockchain we could validate the ledger of your bad posting. Like you have no idea, check out this sweet response in the altcoin thread after I suggested that bitcoin futures offer a more legitimate speculation pathway than shady bitcoin exchanges like bitfinex: AARO posted:Quarkjets I can just imagine you sitting at home fanatically checking this thread every 5 minutes to see if anyone responded to any of your bullshit. AARO posted:If only I couldnt gently caress your mother for her going rate of $75 I wouldnt have aids. lol stay classy, AARO
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Dec 13, 2017 06:39
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QuarkJets posted:
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Dec 13, 2017 07:06
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QuarkJets posted:lol stay classy, AARO
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Dec 13, 2017 07:15
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Dec 13, 2017 10:02
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Hot drat, the guy who created vk.com apparently bought 2000 bitcoins 2 years ago at 750$ (paid 1.5 million dollars) now it worth over 35 million dollars. How he plans to cash out or if he even does plan to cash out is anyone's guess.
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Dec 13, 2017 10:21
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Sekenr posted:Hot drat, the guy who created vk.com apparently bought 2000 bitcoins 2 years ago at 750$ (paid 1.5 million dollars) now it worth over 35 million dollars. How he plans to cash out or if he even does plan to cash out is anyone's guess. I don't know what vk.com is, but just lol at paying 1.5m dollars when it was at an alltime high.
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Dec 13, 2017 10:49
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Are other currencies easier to cash out? Like eth or.litecoin, or do they all have the same problem?
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Dec 13, 2017 10:54
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amotea posted:I don't know what vk.com is, but just lol at paying 1.5m dollars when it was at an alltime high. It's basically Russian facebook, except that you can also search videos people post, usually movies, tv shows, etc. It's a good place to find quality porn. The Bing of Social Media™ as you will.
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Dec 13, 2017 10:56
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Sekenr posted:Hot drat, the guy who created vk.com apparently bought 2000 bitcoins 2 years ago at 750$ (paid 1.5 million dollars) now it worth over 35 million dollars. How he plans to cash out or if he even does plan to cash out is anyone's guess. Just 3,500 separate withdrawals on coinbase every day for the next 9+ years! The biggest mistake anyone is making in any of this (other than shorting bitcoins) is that they think the monetary value of their gambling winnings defines the worth of either the game being played or the person who is playing it. So they must be smart if they made $100,000 off of bitcoin which is a fantastic asset because it is worth $100,000! That's the huge bitcoin meltdown guy's problem. Yes Bitcoin rose in value. No you don't know why it did it. The price rose in spite of it's failings and uselessness not because it is a revolutionary and useful concept. It's a way that regular people could gamble on something like a stock and see ridiculous thousands of a percent returns as more people read about the new thing that is like a stock that they can get thousands of a percent returns on. That's why there is an argument among the "Experts" who have made money on this poo poo. They don't know if it's a store of value or a currency. As the entire thing gets overwhelmed by new marks plowing into it, slowing it to a crawl and driving up the price it becomes obvious all of the "CURRENCY OF THE FUTURE!!!" bullshit that caused people to predict $10,000 - $20,000 coins was wrong and that the same outcome was achieved by people wanting to make real currency trading them back and forth. Everyone who predicted a price rise was accidentally right and everyone who predicted a crash isn't right yet.
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Dec 13, 2017 10:56
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punk rebel ecks posted:It's basically Russian facebook, except that you can also search videos people post, usually movies, tv shows, etc. It's a good place to find quality porn. The Bing of Social Media™ as you will. Thanks! I like to Bing it every now and then.
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Dec 13, 2017 10:59
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It kind of seems like the idealism is falling away and it's just turning into raw speculation. I mean, they were kind of stupid ideals, but at some point the entire thing just becomes about making your butts worth more.
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Dec 13, 2017 11:22
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What the gently caress is this poo poo: https://patientory.com/quote:Blockchain technology has been used successfully in the financial services industry. It is the most secure way of preventing your patients’ sensitive health information from cyber attacks. Using the blockchain, patient medical record files are shredded and encrypted and spread across the blockchain network until you’re ready to use it again, making data breaches nearly impossible. quote:Our patent worthy technology ensures your personal health information is safe, easy to use and HIPAA compliant. Let's look at the team, hmm some lovely business people... but wait there is in fact a technical person, the lead developer (from his LinkedIn): quote:As Proverbs 16:9 says, “we can make our plans, but Jehovah, Yahweh, Yeshua Hamashiach, Jesus Christ, The, Great I AM determines our steps." With God’s timing and blessings M360DEGREES has experienced marvelous beginnings. As a firm that believes in you, we are so honored to serve many wonderful loyal partners and clients, some fortune 1000 companies, small and medium sized businesses, schools and universities, healthcare organizations, a few A-list celebrities and professional ball players, but most importantly, always good hard working people who “believe”, “dream”, and need a trusted software partner along the way. And look at this major dick:  'Growth hacking'???!
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Dec 13, 2017 11:24
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Nessus posted:It kind of seems like the idealism is falling away and it's just turning into raw speculation. I mean, they were kind of stupid ideals, but at some point the entire thing just becomes about making your butts worth more. It's always been raw speculation but the idealism got the fire started. Computer nerds with a lot of disposable income and time used hardware and money to get the network off the ground because they believed any number of dumbass reasons for doing so. Just instead of a currency of the future that the small man could bootstrap his way into riches with that will revolutionize the world they have created an unregulated penny stock that has people buying it because people buy it. It's the Kardashian of stocks, it's worth money because it's worth money.
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Dec 13, 2017 11:56
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With the super volatile nature of the exchanges I was thinking how a super fast acting bot could place lots of trades and make stupid amounts of profit. Is there any evidence to suggest this is happening?
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Dec 13, 2017 12:05
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thegasman2000 posted:With the super volatile nature of the exchanges I was thinking how a super fast acting bot could place lots of trades and make stupid amounts of profit. Is there any evidence to suggest this is happening? I would think that successful HFT requires that the transactions are processed quickly, not in a week.
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Dec 13, 2017 12:18
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If you stick to a specific exchange and are not doing currency conversions I dont see why it wont be instant? So BTC to LTC for example.
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Dec 13, 2017 12:21
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amotea posted:What the gently caress is this poo poo: https://patientory.com/ looking at the puffery on their tech page, if they're using "blockchain" at all, it's as a database. This is Blockchain(tm), not blockchains. VictorianQueerLit posted:It's always been raw speculation but the idealism got the fire started. Computer nerds with a lot of disposable income and time used hardware and money to get the network off the ground because they believed any number of dumbass reasons for doing so. don't worry, the Austrian economics proponents are out there, calling anyone "Keynesian" who thinks they're trash thegasman2000 posted:If you stick to a specific exchange and are not doing currency conversions I dont see why it wont be instant? So BTC to LTC for example. this was most of the volume on Chinese exchanges until earlier this year - bots on zero-fee exchanges attempting to win cents of yuan - until the PBOC made them start charging fees.
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Dec 13, 2017 12:26
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Double Bill posted:I would think that successful HFT requires that the transactions are processed quickly, not in a week. I think some exchanges don't actually deal with the blockchains and instead deal with their own internal ledgers allowing for fast trading. It's why the prices are different at different exchanges.
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Dec 13, 2017 12:26
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^^^ I don't know of any exchanges that use a blockchain except for receiving or paying out customer funds; you sell cryptocurrencies on an exchange to avoid the exorbitant fees and excessive transaction time inherent to using a blockchain. A lot of the sincere enthusiasts fail to see the irony in thisthegasman2000 posted:With the super volatile nature of the exchanges I was thinking how a super fast acting bot could place lots of trades and make stupid amounts of profit. Is there any evidence to suggest this is happening? Tons and tons of it, including bots performing arbitrage If you bother to look at trading histories during downtime it's also pretty clear that the exchanges are running their own bots (because how else do trades occur when no one can even access the trading engine) Not just bots to make profit, but also to move the price around with wash trading QuarkJets fucked around with this message at 12:32 on Dec 13, 2017 |
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Dec 13, 2017 12:30
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QuarkJets posted:^^^ I don't know of any exchanges that use a blockchain except for receiving or paying out customer funds; you sell cryptocurrencies on an exchange to avoid the exorbitant fees and excessive transaction time inherent to using a blockchain. A lot of the sincere enthusiasts fail to see the irony in this yeeeup. Bitcoin got a "layer 2" system early, and it's called "exchanges"
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Dec 13, 2017 12:47
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divabot posted:looking at the puffery on their tech page, if they're using "blockchain" at all, it's as a database. This is Blockchain(tm), not blockchains. And yet, you can actually buy these cancer coins https://coinmarketcap.com/currencies/patientory/
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Dec 13, 2017 12:57
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amotea posted:And yet, you can actually buy these cancer coins https://coinmarketcap.com/currencies/patientory/ fffuuuuuu
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Dec 13, 2017 15:29
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