Bitcoin: no angel investors, only Faustian bargains

The Something Awful Forums > Main > General Bullshit > Bitcoin: no angel investors, only Faustian bargains

VictorianQueerLit: Aug 25, 2017

Uranium 235 posted:

yeah someone is making a killing with this scam

he got $15k https://etherscan.io/address/0x87dc2b91bd923a9c43047102c671e7cffefb9fab

I saw this work for ten years in EVE Online and I'm still somehow surprised people fall for it.

I guess fortunately for most people trying to run recruitment or contract scams would probably actually be illegal with real money.

# ? Feb 18, 2018 05:41

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# ? May 30, 2024 19:37

Wassbix: May 24, 2006; Thanks guy!

Uranium 235 posted:

yeah someone is making a killing with this scam

he got $15k https://etherscan.io/address/0x87dc2b91bd923a9c43047102c671e7cffefb9fab

investment costs are 0 so his returns are literally infiniteeeeeee

# ? Feb 18, 2018 05:41

gary oldmans diary: Sep 26, 2005

Uranium 235 posted:

gary oldmans diary posted:
but im up 1000%! and 30% of that is from making smart trades during the period of time when bitcoin went up 1000% for anyone simply holding. let me tell you about my system...

70% in the time that bitcoin went down 50%

# ? Feb 18, 2018 05:43

Burt Sexual: Jan 26, 2006; by Jeffrey of YOSPOS; Switchblade Switcharoo

Crypto is the Tupperware party of the 70s

# ? Feb 18, 2018 07:05

VictorianQueerLit: Aug 25, 2017

Guys, Bitcoins have been above $10,000 for 3 days now. It's time to get distraught at a $1,000 dip in price.

quote:

austinography - Today at 12:37 AM
We have given up all the total mkt cap gain for the day and then some.
Mrprez-o-dent - Today at 12:37 AM
What's with the sea of red
Mr.Panic - Today at 12:37 AM
panic start
leonhart - Today at 12:37 AM
I was hoping that we would have a few more good days before this
leonhart - Today at 12:41 AM
so is there a chance the market will recover instead of falling?
Mr.Panic - Today at 12:42 AM
i hope it not drop to 5k
Mr.Panic - Today at 12:43 AM
panic too much
it always happen on monday
hope it not big down
JackSmav - Today at 12:46 AM
hi...is goin down ar what
SixMileDrive - Today at 12:46 AM
Called this 30/45 mins ago
MILLERB7 [UTC-5] - Today at 12:49 AM
Nah. This correction was known for a day or 2 now
Trident34 - Today at 1:00 AM
Don�t stress people
Aberrant - Today at 1:00 AM
dont worry guys. Ellen Degeneres shilled us, all gud here.
MILLERB7 [UTC-5] - Today at 1:00 AM
LOLOLOL. 10.4 and going down.
macoustical - Today at 1:00 AM
10.3
Mr.Panic - Today at 1:01 AM
this just only a little bloody monday don't scary
Aberrant - Today at 1:05 AM
meh, bought back in at 10.8 we see 8.5 or lower i'll wire some more funds. HODL till 12k
JerryLi - Today at 1:07 AM
down down down

Nobody has figured out why that guy thinks it's Monday.

Also I bet I could become a millionaire by creating a coin that is guaranteed to grow on Mondays. If I created it on a Tuesday I'd have 5-6 days to cash out my riches before the first Monday proved it was a scam since that is an eternity to cryptotraders and all of them apparently believe in the days of the week/astrology method of market prediction.

# ? Feb 18, 2018 07:18

gary oldmans diary: Sep 26, 2005

VictorianQueerLit posted:

Guys, Bitcoins have been above $10,000 for 3 days now. It's time to get distraught at a $1,000 dip in price.

everything about bitcoin is bitcoin as gently caress

# ? Feb 18, 2018 07:38

QuarkJets: Sep 8, 2008

bitcoin is always down a bit on mondays no worries

*checks calendar* OH gently caress SELL SELL SELL

# ? Feb 18, 2018 09:12

gary oldmans diary: Sep 26, 2005

you fool. on mondays of even weeks of the month you check a thermometer but on odd mondays you check a barometer. dont you know anything about blockchain?

# ? Feb 18, 2018 09:21

VictorianQueerLit: Aug 25, 2017

I think I can help you guys out with your confusion at the market. The experts have arrived to calm the fears of not being millionaires in the next six hours.

quote:

apinkeu - Today at 2:49 AM
This was just a slight correction, were still bullish
its about to cross into negatives in fx sniper on the 4 hr time scale
Tarun - Today at 3:49 AM
what is fx sniper .. plz explain
apinkeu - Today at 3:49 AM
It is an indicator. Super useful(edited)
I didnt create it, but it has been accurate on the 4 hr time scale about 90 percent of the time
Tarun - Today at 3:55 AM
thing abt those block boxes and magic bullet indicator is ... they are the ones why people lose money ... there is no magic indicator .. in the market
dont look for single indicator ... and dont look for patterns ... dont try to predict future ,,, instead develop a correct trading startgy
you can see when its been overbought and over sold ... understand the underlying crowd psychology behind it ... develop a tight risk mangemnt rules ..
and u will be golden .. this is what i belive in(edited)
SARDIE - Today at 4:00 AM
i need to learn to read these graphs like yall
Tarun - Today at 4:01 AM
its easy but a bit time taking ..start with basics... understand the psychology behind it ..
captcuddles - Today at 4:01 AM
idk about easy :stuck_out_tongue:
i'm running into some maths that're a bit over my head
Tarun - Today at 4:01 AM
for example .. ask people what is support and ressistance .. they will tell u about prices where market holds or fails to cross
Tarun - Today at 4:11 AM
time frame .. well a longer time frame tells u abt market trend .. it wont have whipsaw's but u will be missing out trend reversals ... on the otherhand ... short time frame can tell u abt trend changes and alarm u but most of them will be whipsaw's
sure
but i will suggest u to use a set of indicators .. learn them very well ... understand what is the basics behidn them and .. psychology behind them .. (psychology is most and most imortant part* if u understand crowd psychology and corporate psychology .. it will be easier for u to understand what exactly is happening )
Tarun - Today at 4:13 AM
i think there are three important factors whn u trade in these markets ...crowd /social psychlogy .. market analysis ..and risk managemnt
the moment u consider risk mangemnt ... in a trade .. u eliminate the factor of gambling

# ? Feb 18, 2018 10:28

I would blow Dane Cook: Dec 26, 2008

Lol bitcoin is on australian 60 minutes.

# ? Feb 18, 2018 11:28

Uranium 235: Oct 12, 2004

quote:

the moment u consider risk mangemnt ... in a trade .. u eliminate the factor of gambling

close your eyes, tap the heels of your ruby slippers, and think to urself--"risk mangemnt, risk mangement, risk mangemnt"--u eliminate the factor of gambling

# ? Feb 18, 2018 14:54

Adar: Jul 27, 2001

VictorianQueerLit posted:

Guys, Bitcoins have been above $10,000 for 3 days now. It's time to get distraught at a $1,000 dip in price.

Nobody has figured out why that guy thinks it's Monday.

Also I bet I could become a millionaire by creating a coin that is guaranteed to grow on Mondays. If I created it on a Tuesday I'd have 5-6 days to cash out my riches before the first Monday proved it was a scam since that is an eternity to cryptotraders and all of them apparently believe in the days of the week/astrology method of market prediction.

https://www.reddit.com/r/ethereum/comments/7snqpj/i_created_wednesday_coin_a_coin_that_can_only_be/

# ? Feb 18, 2018 16:12

Adar: Jul 27, 2001

Uranium 235 posted:

yeah someone is making a killing with this scam

he got $15k https://etherscan.io/address/0x87dc2b91bd923a9c43047102c671e7cffefb9fab

These guys have been around for 1-2 months now. At first there was only a fake Vitalik, then they branched out to other crypto celebrities, and now it's basically every semi famous nerd with a checkmark plus associated bot shill accounts who claim they got theirs to add legitimacy. Since Twitter is the shittiest social network on the planet, they'll ignore it just long enough for someone to post an article saying the scam took in a few million a month and make it explode further.

# ? Feb 18, 2018 16:20

Risc1911: Mar 1, 2016

I would blow Dane Cook posted:

Lol bitcoin is on australian 60 minutes.

https://www.9news.com.au/national/2018/02/18/21/42/60-minutes-new-cryptocurrency-auscoin

Anyone got a Youtube Link to the show?

# ? Feb 18, 2018 18:34

COMRADES: Apr 3, 2017; by LITERALLY AN ADMIN

VictorianQueerLit posted:

I saw this work for ten years in EVE Online and I'm still somehow surprised people fall for it.

For real I don't get how people are so gullible.

# ? Feb 18, 2018 18:44

Alan Smithee: Jan 4, 2005; A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...

VictorianQueerLit posted:

I saw this work for ten years in EVE Online and I'm still somehow surprised people fall for it.

I guess fortunately for most people trying to run recruitment or contract scams would probably actually be illegal with real money.

How the gently caress are you not a buttcoiner when you're a trump piss drinker

# ? Feb 18, 2018 18:53

jonathan: Jul 3, 2005; by LITERALLY AN ADMIN

Someone mentioned gridcoin/GRC earlier. Seems to be folding@home + rewards. I'd kinda like to try it for fun. Has there been any crazy drama, scams etc by the people who run it that should make me want to stay away ?

# ? Feb 18, 2018 19:31

InternetJunky: May 25, 2002

Risc1911 posted:

https://www.9news.com.au/national/2018/02/18/21/42/60-minutes-new-cryptocurrency-auscoin

Anyone got a Youtube Link to the show?

https://www.youtube.com/watch?v=s9kQZ5EJakM

# ? Feb 18, 2018 19:36

Papa Was A Video Toaster: Jan 9, 2011

I made this for Zaurg, but it's generally applicable to Bitcoin.

Edit:
Buyside:

Papa Was A Video Toaster fucked around with this message at 20:07 on Feb 18, 2018

# ? Feb 18, 2018 19:53

QuarkJets: Sep 8, 2008

TVsVeryOwn posted:

I made this for Zaurg, but it's generally applicable to Bitcoin.

Edit:
Buyside:

# ? Feb 18, 2018 20:30

Comfy Fleece Sweater: Apr 2, 2013; You see, but you do not observe.

jonathan posted:

Someone mentioned gridcoin/GRC earlier. Seems to be folding@home + rewards. I'd kinda like to try it for fun. Has there been any crazy drama, scams etc by the people who run it that should make me want to stay away ?

The only drama is the crazies here in GBS trying to pretend there isn�t a good use case for the Blockchain 🙄

# ? Feb 18, 2018 21:18

QuarkJets: Sep 8, 2008

Comfy Fleece Sweater posted:

The only drama is the crazies here in GBS trying to pretend there isn�t a good use case for the Blockchain 🙄

There are tons of good use cases for replicated databases which is what the companies that are selling "Blockchain" are going to give you. It's the "trustless" proof of work poo poo where everything sucks

# ? Feb 18, 2018 21:32

Burt Sexual: Jan 26, 2006; by Jeffrey of YOSPOS; Switchblade Switcharoo

QuarkJets posted:

There are tons of good use cases for replicated databases which is what the companies that are selling "Blockchain" are going to give you. It's the "trustless" proof of work poo poo where everything sucks

So any dB like sql server, Oracle, db2 or anything! Cool innovation guys. Disruptive and all that

# ? Feb 18, 2018 21:35

Comfy Fleece Sweater: Apr 2, 2013; You see, but you do not observe.

Burt Sexual posted:

So any dB like sql server, Oracle, db2 or anything! Cool innovation guys. Disruptive and all that

It�s descentralized 🙄

# ? Feb 18, 2018 21:41

Spatial: Nov 15, 2007

Decentralised is the future, as you can see from the current uses of the technology, giant centralised exchanges

# ? Feb 18, 2018 21:54

Gumbel2Gumbel: Apr 28, 2010

I still don't understand why an uneditable database that is spread to the winds is seen as a great thing.

No one in business wants their loving contracts visible either. That is a huge goddamn disadvantage. Everyone gets different rates for everything if you're smart.

# ? Feb 18, 2018 22:01

Papa Was A Video Toaster: Jan 9, 2011

Gumbel2Gumbel posted:

I still don't understand why an uneditable database that is spread to the winds is seen as a great thing.

No one in business wants their loving contracts visible either. That is a huge goddamn disadvantage. Everyone gets different rates for everything if you're smart.

No! You're wrong because number go up. See, the thing about the blockchain is: number go up.

# ? Feb 18, 2018 22:05

QuarkJets: Sep 8, 2008

Gumbel2Gumbel posted:

I still don't understand why an uneditable database that is spread to the winds is seen as a great thing.

No one in business wants their loving contracts visible either. That is a huge goddamn disadvantage. Everyone gets different rates for everything if you're smart.

Yup; the libertarians pushing "trustless" blockchains as a business solution aren't aware of the already-existing solutions that have been solving the same problems for decades but while being faster, better, and cheaper than "trustless" blockchains

To no one's surprise

# ? Feb 18, 2018 22:08

zedprime: Jun 9, 2007; yospos

Burt Sexual posted:

So any dB like sql server, Oracle, db2 or anything! Cool innovation guys. Disruptive and all that

Gumbel2Gumbel posted:

I still don't understand why an uneditable database that is spread to the winds is seen as a great thing.

No one in business wants their loving contracts visible either. That is a huge goddamn disadvantage. Everyone gets different rates for everything if you're smart.

The product that business software implementors are gauging interest in/trying to sell is more like an interface replacement. In a world where even business systems are getting widened like procurement networks etc. they are trying to sell the feature of your interactions on the network being as legally bindable as for example a signed purchase order. The individual transactions are definitely not public but can be served up to those with correct priveleges, for example the signing parties and any regulatory auditors.

Its basically finally trying to kill fax.

# ? Feb 18, 2018 22:15

Gumbel2Gumbel: Apr 28, 2010

You just described email tho.

And there is a good goddamn reason why we use quotes purchase orders and invoices

# ? Feb 18, 2018 22:21

zedprime: Jun 9, 2007; yospos

Gumbel2Gumbel posted:

You just described email tho

Legal precedents have not been kind to email.

EDI is basically legal quality email but it has it's own problems with retention/error validation that blockchain purports to solve.

# ? Feb 18, 2018 22:23

100 HOGS AGREE: Oct 13, 2007; Grimey Drawer

fax will never die

# ? Feb 18, 2018 22:24

Papa Was A Video Toaster: Jan 9, 2011

100 HOGS AGREE posted:

fax will never die

Blockchain is dead. Long live fax.

# ? Feb 18, 2018 22:27

Comfy Fleece Sweater: Apr 2, 2013; You see, but you do not observe.

You people keep making fun of crypto meanwhile I�m riding a new car thanks to Ethereum and about to put a down payment on another house I�m buying with bitcoins

Keep laughing, fuzzballs!

# ? Feb 18, 2018 22:43

Burt Sexual: Jan 26, 2006; by Jeffrey of YOSPOS; Switchblade Switcharoo

Comfy Fleece Sweater posted:

You people keep making fun of crypto meanwhile I�m riding a new car thanks to Ethereum and about to put a down payment on another house I�m buying with bitcoins

Keep laughing, fuzzballs!

Post ur whip fanboy! I wanna see lambos

# ? Feb 18, 2018 22:46