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Tether is that guy with the imaginary girlfriend who lives in Canada and no you can't meet her, but instead it's a bank account from Taiwan with $2.3 billion USD in it.
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Feb 3, 2018 20:34
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Direct transfer to coinbase from nicehash is now 0.004 :|
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Feb 3, 2018 21:28
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Prescription Combs posted:Direct transfer to coinbase from nicehash is now 0.004 :| lol it just keeps inching up
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Feb 3, 2018 21:31
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Facebook Aunt posted:lol it just keeps inching up Bitcoin keeps going down so
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Feb 3, 2018 21:37
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1gnoirents posted:Is tether the thing where people took out 30k loans and lost everything that was bitconnect, which seems like a pretty regular scam. tether is a lot larger and more elaborate, per the paradise papers it seems like an overseas bank that the exchange bitfinex used after they lost their own banking accreditation.
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Feb 3, 2018 22:32
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1080ti is making less than $4 a day now, you should be able to get decent prices on GPUs if it stays like this.
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Feb 4, 2018 02:09
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Mine has been around $5.50 a day.
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Feb 4, 2018 02:20
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tehinternet posted:1080ti is making less than $4 a day now, you should be able to get decent prices on GPUs if it stays like this. Then Volta and Navi gpus start shipping and that average payout drops like a cannonball.
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Feb 4, 2018 03:49
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Don Lapre posted:Tether is supposed to be a crypto traded in place of USD on an exchange. The claim is it will always be worth $1 for 1 tether. They accomplish this by (according to them) keeping a reserve of $1 for every 1 tether "printed" and they keep the value by buying tether when it drops below $1 and selling when it goes above $1 also tether is what they created after their exchange got hacked and robbed of 120k bitcoins worth $72 million literally "hey guys we lost all your money but here are some magic beans in replacement, each bean is guaranteed to be worth $1, trust us." followed by "holy poo poo guys they bought it, quick sell them more beans!" owning any amount of tether, or really having any quantity of money or shitcoin assets on the bitfinex exchange at all, is risking yourself as a bag-holder
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Feb 4, 2018 08:17
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I'm not a financial genius but I've been trying to wrap my head around it and I just don't loving understand why you'd want crypto that was tied 1:1 to the dollar. Like what in the gently caress use does it have ever
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Feb 4, 2018 08:25
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Money laundering
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Feb 4, 2018 08:44
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Syrinxx posted:I'm not a financial genius but I've been trying to wrap my head around it and I just don't loving understand why you'd want crypto that was tied 1:1 to the dollar. Like what in the gently caress use does it have ever it lets you trade on exchanges that
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Feb 4, 2018 08:45
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Syrinxx posted:I'm not a financial genius but I've been trying to wrap my head around it and I just don't loving understand why you'd want crypto that was tied 1:1 to the dollar. Like what in the gently caress use does it have ever It is supposed to be all the perks of US dollars without US government oversight. Exchanges using an all-token economy believe they don't need to follow know your customer regulations and whatnot. One weird trick to keep the men with guns at bay.
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Feb 4, 2018 10:27
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Nicehash --> Coinbase down to 0.003. They just can't make up their minds. Also almost below 8k/btc. 
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Feb 4, 2018 23:30
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Davor down to $1.52 a coin
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Feb 5, 2018 00:02
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There's a new payment system being developed called Lightning that is supposed to resolve the bitcoin payment scaling issues. It's a pretty overview of how it works and what are the possible pros and cons. https://arstechnica.com/tech-policy/2018/02/bitcoins-lightning-network-a-deep-dive/ Maybe it will help get enough confidence back so I can mine at $5/day again at least until the card is paid off 
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Feb 5, 2018 01:19
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mobby_6kl posted:There's a new payment system being developed called Lightning that is supposed to resolve the bitcoin payment scaling issues. It's a pretty overview of how it works and what are the possible pros and cons. My theory behind the most recent crash is that people realized all of the lightning network implementations under-deliver on the promises made by developers. A lot of the benefits are being over-touted and a lot of the flaws are getting glossed over
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Feb 5, 2018 01:37
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Ohh we hit $8000
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Feb 5, 2018 03:20
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Syrinxx posted:I'm not a financial genius but I've been trying to wrap my head around it and I just don't loving understand why you'd want crypto that was tied 1:1 to the dollar. Like what in the gently caress use does it have ever It's use is avoiding banks. Literally that's it. They also try to market their website as being a cool crypto-alternative to Paypal, with the tiny caveat of not allowing you to withdraw your Tether for real money.
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Feb 5, 2018 04:25
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QuarkJets posted:My theory behind the most recent crash is that people realized all of the lightning network implementations under-deliver on the promises made by developers. A lot of the benefits are being over-touted and a lot of the flaws are getting glossed over like just about everything bitcoin, it's a great sounding idea on the surface that falls apart under the most casual scrutiny. bitcoin is just not ready as a network to deliver on anything it's being asked to do right now, and that isn't going to change in the next year.
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Feb 5, 2018 05:19
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mobby_6kl posted:There's a new payment system being developed called Lightning that is supposed to resolve the bitcoin payment scaling issues.
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Feb 5, 2018 06:11
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when am i supposed to get my 10% balance payout for nicehash? it says reimburse pending, but we all know the network is no longer clogged up and it should have gone through by now
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Feb 5, 2018 08:49
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Fauxtool posted:when am i supposed to get my 10% balance payout for nicehash? Soon™
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Feb 5, 2018 09:52
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PC LOAD LETTER posted:I thought the whole Lightning thing was supposed to be mostly BS too? Someone did a post about on here a while back IIRC. Reading the article it makes it sound workable but I don't really know anything about it. The payment routing system it proposes completely falls apart when the complexity goes past two people who know each other but usually shop at two different businesses. It basically plays Six Degrees of Kevin Bacon for all payments. If I want to send payment to someone I don't directly have a funded lightning connection with the network will look at the connections of the people I do have a connection with, and if they don't have a connection to that person it looks at the connections of people they have connections with, etc etc. That has its own problems (what if the shortest connection isn't the cheapest?) but the real fundamental problem is that each lightning connection is prefunded and when the network finds a route it shifts the funds of everyone along that route. So if a random person's payment happens to go through a lightning connection between you and your friend you could suddenly find yourself with no funds to send to your friend to pay for lunch because they already have all of them. Sure you haven't "lost" money because the same thing happened in your favor in another lightning connection but moving that over to the connection with your friend requires four bitcoin transactions - closing the two connections then reopening them with proper funding levels. That could put you out $100 or so. As a result people are going to charge out the rear end for permission to use their connections for larger transactions. Bitcoiners will say that's fine and people should use the main blockchain for large transactions but if that's the case you end up with a chicken and the egg situation - to reliably send funds to anyone you need the average funding level of connections to be high so that a random bunch of small transactions going in one direction don't eat up all of a connection's funds, but if you can't use the connections to send large amounts why would anyone prefund them with large amounts of bitcoin?
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Feb 5, 2018 14:28
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They've also handwaved away that they will solve the traveling salesman problem efficiently. That is a really classic example of a simple problem that is so hard we cannot solve it despite working on it for a century+. But bitcoiners will don't worry. Lightning is Novel but I don't expect it will actually amount to anything in practice.
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Feb 5, 2018 14:46
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They don't need to solve the TSP though, just the shortest/cheapest path, which can be done pretty trivially with A* or something. Unless I'm misunderstanding the principle, as I didn't study in too much detail.
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Feb 5, 2018 14:53
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mobby_6kl posted:They don't need to solve the TSP though, just the shortest/cheapest path, which can be done pretty trivially with A* or something. Unless I'm misunderstanding the principle, as I didn't study in too much detail. I thought the problem was if they want to update a wallet change they now need to propagate that change across the entire network since they don't know how to otherwise make sure the right nodes don't have the ability to double spend (or maybe the reverse, lockout funds, I don't remember). It's not quite Traveling Salesman, but the last time I saw the question "Isn't this an NP Hard problem? How are you solving it?" the answer was essentially "We're smart enough to see the true potential of the blockchain, we're smart enough to solve that." I didn't really study it either, but it seemed like a big, fundamental thing to handwaive. Edit: Yeup, their Prototypes are still hub-and-spoke with no solution so far for path finding. This means it's either going to require to be run through only specific vendors (DECENTRALIZED!) or it'll scale worse than the existing blockchain. The 2nd option means flooding the network with transaction meaning it'll ALSO be somehow less private. https://twitter.com/lopp/status/932...ralizing_hub%2F Lockback fucked around with this message at 16:05 on Feb 5, 2018 |
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Feb 5, 2018 16:00
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Sold my cards. Got out of the game with $2000 profit after 3 months. Profitability is too low now along with the fact I could sell my used cards for a decent profit. It was a good time to get out. $9 profit a day for 3 1070s and 1 1080ti is laughable.
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Feb 5, 2018 16:00
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https://giant.gfycat.com/FondEquatorialGrosbeak.mp4
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Feb 5, 2018 17:14
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lol
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Feb 5, 2018 18:50
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Has it touched six thousand yet? Also yesterday I had some butter arguing at me that monero is good because it enables deathly oppressed minorities in the far east to organize somehow and that if I'm anti-cryptocurrency I'm racist??? These people are utterly daft.
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Feb 5, 2018 19:04
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Kazinsal posted:Has it touched six thousand yet? There's a floor at 7000 so far (it's hit exactly 7000 so somebody must have buy orders there) according to one of the various irc bots .bit function quote:Bitcoin // Current: $7,067.23 - High: $8,546.22 - Low: $7,000.00 - Volume: 34,495.96 BTC A minute later quote:Bitcoin // Current: $7,024.83 - High: $8,519.19 - Low: $7,000.00 - Volume: 34,520.64 BTC Two minutes later quote:Bitcoin // Current: $6,991.32 - High: $8,518.64 - Low: $6,991.29 - Volume: 34,597.74 BTC Party Plane Jones fucked around with this message at 19:10 on Feb 5, 2018 |
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Feb 5, 2018 19:05
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Right now its bouncing around 7,000 and 7020 edit: literally 6999 now And here comes the river
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Feb 5, 2018 19:09
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Lockback posted:They've also handwaved away that they will solve the traveling salesman problem efficiently. That is a really classic example of a simple problem that is so hard we cannot solve it despite working on it for a century+. But bitcoiners will don't worry. Byzantine General's problem not enough. Must add traveling salesmen to it, that'll fix it.
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Feb 5, 2018 19:47
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I sold out after my last  trade on Saturday was wondering if that was a mistake. Not so much nowThough with my recently financed 1080ti Dell, I'd prefer this crash to stop lol.
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Feb 5, 2018 20:12
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.
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Feb 5, 2018 20:16
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Oh please crash, card prices. Give me cheap 1060s, 1070s, or drive the prices down farther on 980tis.
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Feb 5, 2018 20:20
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1gnoirents posted:
I still have like as well in nicehash because they keep screwing around with transfer options so I never got to cash out fully.
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Feb 5, 2018 21:07
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mobby_6kl posted:I still have like That $20 is more like $6 now.
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Feb 5, 2018 21:26
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tehinternet posted:That $20 is more like $6 now. tbh I'm not sure I'm even going to bother at this point as I don't feel like uploading my id to coinbase (unless I can use a fake one..). Oh well, I knew there was a risk of all of this crashing down when I bought my 1070, but thankfully it was at a normal price at least.
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Feb 5, 2018 21:30
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