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Lote
Aug 5, 2001

Place your bets
Idea for a new crypto currency: Beet Connect. Each Beet Connect unit of currency is tethered / connected to one delicious sugar beet.

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There Bias Two
Jan 13, 2009
I'm not a good person

Lote posted:

Idea for a new crypto currency: Beet Connect. Each Beet Connect unit of currency is tethered / connected to one delicious sugar beet.

What happens when your beet rots though?

feedmegin
Jul 30, 2008

There Bias Two posted:

What happens when your beet rots though?

*insert picture of Zoidberg with a sandwich*

Mozi
Apr 4, 2004

Forms change so fast
Time is moving past
Memory is smoke
Gonna get wider when I die
Nap Ghost
always bet on beet

The Duchess Smackarse
May 8, 2012

by Lowtax
I would make smoko coin but id rather you all leave me alone

90s Solo Cup
Feb 22, 2011

To understand the cup
He must become the cup



Lote posted:

Idea for a new crypto currency: Beet Connect. Each Beet Connect unit of currency is tethered / connected to one delicious sugar beet.

But can it be stored securely up my rear end like Buttcoin?

There Bias Two
Jan 13, 2009
I'm not a good person

Domestic Amuse posted:

But can it be stored securely up my rear end like Buttcoin?

Depends on the size of the beet

Khorne
May 1, 2002
Quantum Beet Technology:

Your beets can beet up or beet down. If you beet up someone some of your remaining beet ups beet down, and you can use the beet downs to stake some beet up. Beet downs that aren't taken to staken within a month decay.

Harveygod
Jan 4, 2014

YEEAAH HEH HEH HEEEHH

YOU KNOW WHAT I'M SAYIN

THIS TRASH WAR AIN'T GONNA SOLVE ITSELF YA KNOW

Domestic Amuse posted:

But can it be stored securely up my rear end like Buttcoin?

*runs to the toilet

I gotta drop a beet!

mojo1701a
Oct 9, 2008

Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

There Bias Two posted:

What happens when your beet rots though?

But the blockchain (which cannot be tampered with!) says this beet is healthy and not rotted. Therefore the beet cannot rot.

SpacePig
Apr 4, 2007

Hold that pose.
I've gotta get something.

Lote posted:

Idea for a new crypto currency: Beet Connect. Each Beet Connect unit of currency is tethered / connected to one delicious sugar beet.

Isn't this literally Schrute Bucks?

100 HOGS AGREE
Oct 13, 2007
Grimey Drawer
Have you really all already forgotten about Bananacoin??

https://bananacoin.io/

Pyromancer
Apr 29, 2011

This man must look upon the fire, smell of it, warm his hands by it, stare into its heart

Warbadger posted:

Anyways, he didn't print the gun. He maybe printed the plastic outer shell of a magazine that would have cost you $20 (except his is made of shittier plastic).

Probably "printed the gun" in the news article way - printed one plastic part and bought everything that's normally made out of metal.

Lote
Aug 5, 2001

Place your bets

There Bias Two posted:

Depends on the size of the beet

Anything is a butt plug if you’re motivated enough.

SpacePig posted:

Isn't this literally Schrute Bucks?

Yes. But with crypto currency. Also people will invest in you because they think it’s bitconnect

Andy Dufresne
Aug 4, 2010

The only good race pace is suicide pace, and today looks like a good day to die
This morning it looks like a single person raised the price on GDAX from $8150 to $8500 in a couple of minutes. The depth of this market is staggering.

Or to put it in a way bitcoiners will understand, he raised the market cap by $7 billion. What a swell guy.

Papa Was A Video Toaster
Jan 9, 2011





Andy Dufresne posted:

This morning it looks like a single person raised the price on GDAX from $8150 to $8500 in a couple of minutes. The depth of this market is staggering.

Or to put it in a way bitcoiners will understand, he raised the market cap by $7 billion. What a swell guy.

Billionaires are cool and chill guys, just like us.

90s Solo Cup
Feb 22, 2011

To understand the cup
He must become the cup



Andy Dufresne posted:

This morning it looks like a single person raised the price on GDAX from $8150 to $8500 in a couple of minutes. The depth of this market is staggering.

Or to put it in a way bitcoiners will understand, he raised the market cap by $7 billion. What a swell guy.

This is definitely not price manipulation of the sort that would raise all sorts of red flags on a major stock exchange.

Rad Russian
Aug 15, 2007

Soviet Power Supreme!

100 HOGS AGREE posted:

Have you really all already forgotten about Bananacoin??

https://bananacoin.io/

I like how they have only one lovely plantation in Laos as part of this project (it's probably worth like $50-60K to buy the whole plantation outright) but raised almost $28 $14 MILLION* so far for the digital tokens used by this one small plantation's bananas. The crypto future is bright, people.

*Their target is to raise a total of $28 million once all tokens are sold

Rad Russian fucked around with this message at 16:38 on Mar 16, 2018

Papa Was A Video Toaster
Jan 9, 2011





Rad Russian posted:

I like how they have only one lovely plantation in Laos as part of this project (it's probably worth like $50-60K to buy the whole plantation outright) but raised $28 MILLION for the digital tokens used by this one small plantation's bananas. The crypto future is bright, people.

And all of that money went to the workers and to capital improvement :v:

feelix
Nov 27, 2016
THE ONLY EXERCISE I AM UNFAMILIAR WITH IS EXERCISING MY ABILITY TO MAKE A POST PEOPLE WANT TO READ

Warbadger posted:

Even if you print the lower you didn't print the gun (except in the legal sense with an AR-15). The lower is just a frame for the trigger pack (which he didn't print), the stock, and the magazine. All the functional bits that go boom are in the upper. But he didn't print an awful lower, that dude just printed the plastic shell of a magazine badly and should be embarrassed for it.

Isn't this just another example of how American gun laws are retarded (in neither a pro- or anti-gun sense)? As in, other countries consider the "firearm" to be the actual difficult-to-manufacture, high-pressure components, while the U.S. considers the "firearm" to be the body panels

Uranium 235
Oct 12, 2004

Andy Dufresne posted:

This morning it looks like a single person raised the price on GDAX from $8150 to $8500 in a couple of minutes. The depth of this market is staggering.

Or to put it in a way bitcoiners will understand, he raised the market cap by $7 billion. What a swell guy.
it's tough to say where that price spike originated. i compared the 1 min charts on bitfinex, gdax, and bitstamp, and they all showed increased volume at 9:21 and a volume peak at 9:23, which is when margin shorts began closing on bitfinex in very large numbers. about 1000 closed within a 15 minute period, and during that period most of them closed within the first 5 minutes. i think it was a deliberate attempt to force a short squeeze, either by one person or a group of people acting in coordination

it seems like it happened on multiple major exchanges simultaneously. i'm not sure if that's because whoever was pushing the price did so on all those exchanges, or if it was because automated traders watched the price action and volume on wherever it originated and then followed suit. doesn't really matter but it's interesting nonetheless

this stuff happens all the time in crypto

it happens in reverse too, we've seen huge amounts of bitcoins dumped on the market around 10 am-12 pm on 8 of the last 10 days, with big sell walls stacking the ask and automatically dropping down as the price drops

Uranium 235 fucked around with this message at 17:03 on Mar 16, 2018

gary oldmans diary
Sep 26, 2005
you cant get ahead of then on the pump but you can beat them to the dump

Fallows
Jan 20, 2005

If he waits long enough he can use his accrued interest from his savings to bring his negative checking balance back into the black.

Uranium 235 posted:

it's tough to say where that price spike originated. i compared the 1 min charts on bitfinex, gdax, and bitstamp, and they all showed increased volume at 9:21 and a volume peak at 9:23, which is when margin shorts began closing on bitfinex in very large numbers. about 1000 closed within a 15 minute period, and during that period most of them closed within the first 5 minutes. i think it was a deliberate attempt to force a short squeeze, either by one person or a group of people acting in coordination

it seems like it happened on multiple major exchanges simultaneously. i'm not sure if that's because whoever was pushing the price did so on all those exchanges, or if it was because automated traders watched the price action and volume on wherever it originated and then followed suit. doesn't really matter but it's interesting nonetheless

this stuff happens all the time in crypto

it happens in reverse too, we've seen huge amounts of bitcoins dumped on the market around 10 am-12 pm on 8 of the last 10 days, with big sell walls stacking the ask and automatically dropping down as the price drops

So I should buy more coins now right?

Uranium 235
Oct 12, 2004

Fallows posted:

So I should buy more coins now right?
yes take out a home equity loan and buy buy buy

Fame Douglas
Nov 20, 2013

by Fluffdaddy
Just think of how rich you'll be when the price rises

Double Agent
Mar 28, 2005

Maybe we're not just a bunch of frak-ups after all.

Khorne posted:

Quantum Beet Technology:

Your beets can beet up or beet down. If you beet up someone some of your remaining beet ups beet down, and you can use the beet downs to stake some beet up. Beet downs that aren't taken to staken within a month decay.

Or you could just beet off

SelenicMartian
Sep 14, 2013

Sometimes it's not the bomb that's retarded.

100 HOGS AGREE posted:

Have you really all already forgotten about Bananacoin??

https://bananacoin.io/

SelenicMartian posted:

Russian bananacoin (each coin is backed by a bunch of organic bananas in Laos to be exported to China) may get sued for alleged fraud.
:allears:
Someone looked at their business plan and figured it was stupid.

Khorne
May 1, 2002

Double Agent posted:

Or you could just beet off
I regret not thinking of this for the end of the last line.

Mozi
Apr 4, 2004

Forms change so fast
Time is moving past
Memory is smoke
Gonna get wider when I die
Nap Ghost
beet it
beet it
get a 1080 and heat it
buy on the dippies
hodl on the crash
squeeze some red juice
or put it in hash
just beet it

Double Bill
Jan 29, 2006



The pump is acting up again, someone give it a good kick

PostNouveau
Sep 3, 2011

VY till I die
Grimey Drawer

Double Bill posted:



The pump is acting up again, someone give it a good kick

Don't tell anyone, but I've been printing anti-Tethers.

Double Bill
Jan 29, 2006

PostNouveau posted:

Don't tell anyone, but I've been printing anti-Tethers.

Are they just paper notes that say "you owe me $1"

PostNouveau
Sep 3, 2011

VY till I die
Grimey Drawer

Double Bill posted:

Are they just paper notes that say "you owe me $1"

Yeah, they have intrinsic value.

Bardeh
Dec 2, 2004

Fun Shoe
Isn't Bitcoin basically just a money-printing machine for people rich enough to be able to pump the price up like that? Wouldn't it be piss easy to manipulate the market at will if you had enough liquid cash to do it? There's no regulatory oversight or anything like that, or anything to stop billionaires from doing it over and over again and escaping with millions of dollars each and every time?

Uranium 235
Oct 12, 2004

Bardeh posted:

Isn't Bitcoin basically just a money-printing machine for people rich enough to be able to pump the price up like that? Wouldn't it be piss easy to manipulate the market at will if you had enough liquid cash to do it? There's no regulatory oversight or anything like that, or anything to stop billionaires from doing it over and over again and escaping with millions of dollars each and every time?
yes pretty much, although there's always the risk that there's someone else out there with more money who will punish you for trying it

there is definitely manipulation. there's no way to know exactly how much, and which price action is due to manipulation. i'm hoping that someday the CFTC and SEC decide to regulate and monitor US-based exchanges for manipulation, but we're probably a long way from that happening, if it ever does. anyway it would be interesting to see if/how the markets change after that.

Pendent
Nov 16, 2011

The bonds of blood transcend all others.
But no blood runs stronger than that of Sanguinius
Grimey Drawer

Bardeh posted:

Isn't Bitcoin basically just a money-printing machine for people rich enough to be able to pump the price up like that? Wouldn't it be piss easy to manipulate the market at will if you had enough liquid cash to do it? There's no regulatory oversight or anything like that, or anything to stop billionaires from doing it over and over again and escaping with millions of dollars each and every time?

Well, eventually they’d run out of suckers who buy bit...hahahaha I can’t even finish

Bardeh
Dec 2, 2004

Fun Shoe
now all I need is to get into the Slack groups where they organize this poo poo and I'll be rich!!!

Lote
Aug 5, 2001

Place your bets

Uranium 235 posted:

yes pretty much, although there's always the risk that there's someone else out there with more money who will punish you for trying it

there is definitely manipulation. there's no way to know exactly how much, and which price action is due to manipulation. i'm hoping that someday the CFTC and SEC decide to regulate and monitor US-based exchanges for manipulation, but we're probably a long way from that happening, if it ever does. anyway it would be interesting to see if/how the markets change after that.

Or the person running the exchange has a spiteful God complex towards margin holders

Risc1911
Mar 1, 2016

Bitcoin Miners Now On The Verge Of Losing Money
A recent report by Fundstrat’s Tom Lee notes that Bitcoin (BTC) mining earnings are currently almost breaking even, as the activity has temporarily become less profitable the midst of the current decline in the markets, CNBC reported yesterday, March 15.Lee notes in the report that the current figure for the cost of mining one bitcoin is $8,038, while BTC is trading marginally higher than that at press time.
https://www.zerohedge.com/news/2018-03-16/bitcoin-miners-now-verge-losing-money

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Burt Sexual
Jan 26, 2006

by Jeffrey of YOSPOS
Switchblade Switcharoo

Bardeh posted:

Isn't Bitcoin basically just a money-printing machine for people rich enough to be able to pump the price up like that? Wouldn't it be piss easy to manipulate the market at will if you had enough liquid cash to do it? There's no regulatory oversight or anything like that, or anything to stop billionaires from doing it over and over again and escaping with millions of dollars each and every time?

Lol getting out

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