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Ham Sandwiches posted:Scratch tickets, the capitalist plot to steal from the poor + working man and profit off the fact that people are hopelessly in debt Scratch tickets, lotteries, payday loans, and cryptocurrencies are all described by what you wrote here, I'm sorry that you're too stupid to see that yet but genuinely the whole "oh you can just mine it for free" meme is old, tired, and wrong and I wish you were around to read the billion sob stories from poor people getting absolutely destroyed in the rundown from $20k to $6k if you think that a GPU mining rig is just something that a poor person can afford to buy on a whim then you are delusional Moridin920 posted:So many crypto people get like 90% of the way there. I heard one ranting about how it is bullshit that he has so much of his life controlled by bosses who exploit him and wage slavery blah blah blah........... and then he concluded with 'that's why I mine BTC so one day I can escape this and be a millionaire too.' my math friends would get mad at you for describing people buying bitcoins as "crypto people" the correct term is "idiots"
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Feb 16, 2018 20:57
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turn off the TV posted:I laughed when I read in an FBI indictment that Russian intelligence agencies use cypto exchanges to move currency into and out of the United States. https://twitter.com/annalecta/status/964589366776606721
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Feb 16, 2018 20:59
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Can somebody please post a study which shows bitcoin mining "profit" vs. energy expenditure? Profit in quotes because sadly play money isn't worth anything.
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Feb 16, 2018 21:01
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http://store.steampowered.com/app/768750/MonteCrypto_The_Bitcoin_Enigma/ lmao
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Feb 16, 2018 21:02
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Vargatron posted:Can somebody please post a study which shows bitcoin mining "profit" vs. energy expenditure? With the best ASIC miner (Antminer 9), if you get one for $2400 you break even after 600 days. Assuming 0.15 $/KWh. Of cause these ASICS usually use more energy than they advertise so this might vary. That's if bitcoin stays at $10k.  
Risc1911 fucked around with this message at 21:42 on Feb 16, 2018 |
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Feb 16, 2018 21:36
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Bitcoin: can vary greatly.
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Feb 16, 2018 21:43
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Vargatron posted:Can somebody please post a study which shows bitcoin mining "profit" vs. energy expenditure? Khorne fucked around with this message at 21:47 on Feb 16, 2018 |
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Feb 16, 2018 21:45
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QuarkJets posted:I wanted to see how my favorite racist EU-ish state was going to do this but there's no article at that link poo poo sorry, must be some FT shenanigans, article shows up when I click and it tries to prevent copying 🙄 https://www.ft.com/content/737b9634-1303-11e8-8cb6-b9ccc4c4dbbb ‘Crypto nation’ Switzerland issues guidelines to support market Regulator’s guidelines should help ‘initial coin offerings’ 10 hours ago Switzerland’s financial supervisor has bucked the trend of global regulators cracking down on cryptocurrencies by announcing guidelines that should help local “initial coin offerings” sold by start-up companies. The Finma financial authority hopes to support the ICO market and boost new blockchain technologies by clarifying when entrepreneurs will have to apply anti-money laundering and securities laws. Regulators around the world have taken an increasingly sceptical view of cryptocurrrencies and ICOs, which have been banned in China and South Korea. But the Swiss government believes they could offer an economic opportunity. Johann Schneider-Ammann, economics minister, last month said Switzerland wants “to be the crypto nation”. Of the 10 biggest proposed initial coin offerings, four have used Switzerland as a base, according to PwC. More than 100 requests for guidance have been received by Finma. On Friday, Mark Branson, Finma’s chief executive, said its “balanced approach“ to ICO projects would allow “legitimate innovators to navigate the regulatory landscape and so launch their projects in a way consistent with our laws protecting investors and the integrity of the financial system.” Finma’s move is intended to help the fast-growing crypto industry ahead of a broader review of the Swiss ICO industry launched last month by the Swiss government, which will also consider possible legislative changes. The department for international finance in Bern has said its intention is to make Switzerland an “attractive location” for ICOs. The government ICO working group is expected to report by the end of the year. Globally, regulators worry about crypto currencies being used by criminals and for money laundering, as well as the risks to investors - and traditional banks have sought to prevent them infiltrating the conventional financial system. The UK and US have been among the countries advising caution. Finma’s guidelines identify three categories of ICOs. The first are “payment ICOs,” which are transferable and can function as means of payment. Finma said these would have to comply with anti-money laundering regulations but would not be treated like financial securities. Second, are “utility ICOs,” which will not qualify as securities if their only purpose is to confer digital access rights to an application or service. Third, are “asset ICOs,” which will be treated like equities or bonds if, for example, they pay dividends, interest or give rights to earnings streams. These will be subject to strict securities law requirements.
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Feb 16, 2018 21:48
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https://twitter.com/Bitfinexed/status/964600541669220355 what a great time to post poo poo like that on the internet
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Feb 16, 2018 22:12
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Switzerland just wants to get in on that money laundering.
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Feb 16, 2018 22:14
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Uranium 235 posted:https://twitter.com/Bitfinexed/status/964600541669220355 Holy poo poo, that's a winner alright.
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Feb 16, 2018 22:15
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ynohtna posted:Bitcoin: can very greatly.
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Feb 16, 2018 22:17
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Back when the mafia ran the numbers game (lottery!), they offered a better payout percentage than states do now. Even the mafia didn’t have the balls to take above a certain percentage because then people would figure that the game was too crooked and spend their gambling money elsewhere.
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Feb 16, 2018 22:31
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Gumbel2Gumbel posted:Some dude was arguing with his friend that he had a system for scratchers at 7/11 once. From a few pages back but... maybe he heard of this story: https://www.wired.com/2011/01/ff-lottery Edit: oh, someone posted already, anyway, interesting article, recommended read 
Miss Mowcher fucked around with this message at 23:22 on Feb 16, 2018 |
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Feb 16, 2018 23:13
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Coinbase Duplicate Charges. 
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Feb 16, 2018 23:54
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Khorne posted:People mine the altcoins, you make around $3/day with a gtx1070 right now. I know this because I use my gtx1070 I bought at release for cuda/opencl stuff and games to mine while I'm at work or not home. I think mining is real dumb, but if money is going to fall out of the sky and pay for hardware expenses then who am I to say no? Your electricity is free I take it
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Feb 16, 2018 23:54
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reposting after the few weeks of fun bitcoin news
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Feb 16, 2018 23:55
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Risc1911 posted:Coinbase Duplicate Charges. Wow. I'd be pretty pissed at my financial institution for letting that clearly fraudulent activity go down tbqh.
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Feb 16, 2018 23:56
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Risc1911 posted:Coinbase Duplicate Charges. That's a feature not a bug. You should always be 2x'ing whatever you're trying to deposit.
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Feb 17, 2018 00:00
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feedmegin posted:Your electricity is free I take it
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Feb 17, 2018 00:01
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Risc1911 posted:Coinbase Duplicate Charges. I like that yesterday they were telling people that it was only charges between January and February, then blamed VISA, and are continuing to issue repeated charges.
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Feb 17, 2018 00:04
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Get in on that sweet sweet class action lawsuite
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Feb 17, 2018 00:15
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Uranium 235 posted:https://twitter.com/Bitfinexed/status/964600541669220355   I want to follow the journey of punkinCOIN in real time, now.
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Feb 17, 2018 00:16
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COMRADES posted:Wow. I'd be pretty pissed at my financial institution for letting that clearly fraudulent activity go down tbqh. Yeah on one hand, you're paying the idiot tax for letting fad companies into your bank account, but on the other I'd definitely switched banks if that happened and never got so much as a courtesy "hey your account is spazzing out" call. also lol at the one man army dude sticking it to the man
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Feb 17, 2018 00:38
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Fame Douglas posted:What is a "EU-ish" state? Not part of the European Union, but in Europe? Association agreement but no membership
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Feb 17, 2018 01:10
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Goodpancakes posted:Get in on that sweet sweet class action lawsuite wide stance posted:That's a feature not a bug. You should always be 2x'ing whatever you're trying to deposit. COMRADES posted:Wow. I'd be pretty pissed at my financial institution for letting that clearly fraudulent activity go down tbqh. Admittedly not the outcome I'd have picked, but:  e: http://fortune.com/2018/02/16/bitcoin-coinbase-overcharging-glitch/ after the wave of large banks asked Visa to reclassify crypto purchases as cash advances, Worldcom went ahead and...retroactively refunded over a million purchases from months ago, reclassified them under the new codes meaning those people became liable for 1-10% fees months after their purchases, then re-billed everyone involved except the new wave of bills got processed ahead of the refunds. oh yeah and some people got billed 50 times. this will not help with the conspiracy theories tbqh Adar fucked around with this message at 01:43 on Feb 17, 2018 |
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Feb 17, 2018 01:37
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Adar posted:after the wave of large banks asked Visa to reclassify crypto purchases as cash advances, Worldcom went ahead and...retroactively refunded over a million purchases from months ago, reclassified them under the new codes meaning those people became liable for 1-10% fees months after their purchases, then re-billed everyone involved except the new wave of bills got processed ahead of the refunds. oh yeah and some people got billed 50 times. lmao
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Feb 17, 2018 01:46
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Adar posted:Admittedly not the outcome I'd have picked, but: That "Joint Statement" only appears on the coinbase blog so I doubt the accuracy of the statement. Specifically they state the cause is the reclassification where they then reversed transactions and reposted them under the new code. This would make sense for a /single/ duplicated transaction. Someone being hit with 16 of them seems unlikely to be caused by this issue. Unless the person in question did 8 transfers that were then being reversed. Most of the posts I have seen about those duplicates indicates that is not the case; but that relies on taking bitcoiners at face value.
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Feb 17, 2018 01:55
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Fame Douglas posted:What is a "EU-ish" state? Not part of the European Union, but in Europe? What Deltasquid said; Switzerland is not an official EU member but they do participate in some EU agreements and are surrounded by EU countries, so they're kind of an EU state but not really. CCP Grey did a broad overview a few years ago https://www.youtube.com/watch?v=O37yJBFRrfg
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Feb 17, 2018 01:59
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From the SA cryptocurrency mining thread:Sibling of TB posted:Gyft stopped accepting my coinbase to buy amazon gift cards (saying declined due to security reasons). Any other way to turn BTC into gift cards? 1gnoirents posted:I just tried and it let me go to the very end. I didn't actually hit purchase but it gave no indication that it wouldn't take Coinbase funds. When did it fail? Sibling of TB posted:After choose the method of payment (coinbase or bitpay), click go, it opens a new window which usually says that everything went alright but this time is saying "Sorry, your order has been declined for security purposes" and that an email has been sent explaining and that the funds will be refunded (they were never taken in the first place, so that's good I guess). McPimpenheimer posted:That happens to me if I don't disable uBlock and Ghostery in my browser beforehand. Are you running an adblocker? Sibling of TB posted:Ah! There you go! Dumb of me, was doing it on a different computer than usual and forgot about all that. Thank you! 1gnoirents posted:Gyft also forces you to turn off 2FA on Coinbase lol. For that reason alone I never really used it as a matter of inconvenience tl;dr To convert cryptocurrencies into gift cards, just disable your browser's privacy and security extensions and turn off 2FA on your Coinbase account.
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Feb 17, 2018 02:05
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Uranium 235 posted:contrary to what you say, i've never claimed that i can "accurately predict the market" and in fact have said that it isn't possible to predict the market. the best that can be done is to find low-risk trading setups and to play the odds. it's risky and it's speculative but if you are picky with your entries and you are disciplined in your risk management then it is possible to make a profit
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Feb 17, 2018 02:06
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Adar posted:after the wave of large banks asked Visa to reclassify crypto purchases as cash advances, Worldcom went ahead and...retroactively refunded over a million purchases from months ago, reclassified them under the new codes meaning those people became liable for 1-10% fees months after their purchases, then re-billed everyone involved except the new wave of bills got processed ahead of the refunds. oh yeah and some people got billed 50 times.
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Feb 17, 2018 02:11
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Adar posted:Admittedly not the outcome I'd have picked, but: If that explanation was accurate shouldn't it have effected users on other exchanges that let you use a Visa card, and not just Coinbase?
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Feb 17, 2018 02:22
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Yeah I deal with backend credit card processing at work too and this sounds extremely unlikely. I can understand old, pending credit card transactions getting batched out and charging months later (there’s no limit on the amount of time a company can sit on a card transaction before processing it). But there’s no explanation for these egregious multicharges. I’d have to guess that if (big if) this was actually a gently caress up and not some kind of intentional poo poo then it is absolutely not Visa’s fault. It would have to be some sort of really bad software issue by Coinbase or their card processing company. Probably Coinbase, let’s be real.
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Feb 17, 2018 02:27
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exchanges are well known for telling the whole, complete truth quickly and at all times, so i wouldn't worry about it
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Feb 17, 2018 02:30
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Credit card reversals take like a week too lmao. There is no way in hell anyone has their money back unless it was processed like... Monday at the absolute latest.
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Feb 17, 2018 02:35
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There's a post in /r/buttcoin basically accusing Coinbase of having badly-written transaction software with an attempt at a diagnosis, which makes a lot more sense than Coinbase's explanation of "well you see this is actually Visa's fault but for some reason it only effects our users and no one else's, also while the problem was totally not on our end we've managed to fix the issue for future transactions" https://www.reddit.com/r/Buttcoin/comments/7xrqyt/on_rcoinbase_people_have_been_getting_charged/dublpfu/?context=0
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Feb 17, 2018 02:44
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Pretty weird that this statement has been corroborated literally nowhere else on the internet besides Coinbase's blog and Coinbase linking to Coinbase's blog. e: Especially weird when you consider that Vista had previously publicly stated in multiple places that it was, in fact, Coinbase's fault. turn off the TV fucked around with this message at 02:46 on Feb 17, 2018 |
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Feb 17, 2018 02:44
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My twitter account @HitlerDidNothingWrong420 also corroborated it
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Feb 17, 2018 02:46
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turn off the TV posted:Pretty weird that this statement has been corroborated literally nowhere else on the internet besides Coinbase's blog and Coinbase linking to Coinbase's blog. It's probably fake a f. Banking poo poo just... Doesn't work like that? Even if it did there's no way they'd post such a mea culpa without first going over the dead bodies of their legal teams.
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Feb 17, 2018 02:48
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