Bitcoin: no angel investors, only Faustian bargains

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

QuarkJets: Sep 8, 2008

Kobayashi posted:

The energy consumption required to run the financial system employs actual human beings who participate in actual human society. Climate change is one of the greatest threats to human society. Bitcoin is anti-social, cynical, and a threat to human existence, as the entire premise of proof-of-work algorithms is to turn energy into “trust.”

Not to mention that the financial system also takes a tiny fraction of the amount of power used by cryptocurrencies, while providing much more transaction bandwidth, and superior service and benefits

# ? Apr 10, 2018 19:34

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# ? May 29, 2024 23:47

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

QuarkJets posted:

Not to mention that the financial system also takes a tiny fraction of the amount of power used by cryptocurrencies, while providing much more transaction bandwidth, and superior service and benefits

So you say, but nobody has any numbers on the carbon footprint of a bank, plus taxes and commissions... Bitcoin is better

# ? Apr 10, 2018 20:34

joats: Aug 18, 2007; stupid bewbie

Harveygod posted:

Tatoos make something be money?

What's the USD exchange rate on Bulbasaur/Team Rocket Lady tenticle-hentai?

Goku is a level beyond fiat money.

# ? Apr 10, 2018 21:16

jimmyjams: Jan 10, 2001; King Kong of Megadongs
Gobblin' them mega schlongs
Makin' sure they mega long
Stroke' 'em if they mega strong

put goku on the blockchain

# ? Apr 10, 2018 21:36

Tacky-Ass Rococco: Sep 7, 2010; by R. Guyovich

This temporary price stability is no fun at all. I don't want to have to wait a week for the next freefall.

# ? Apr 10, 2018 23:44

Illuminti: Dec 3, 2005; Praise be to China's Covid-Zero Policy

https://www.visaeurope.com/about-us/corporate-responsibility/sustainability-the-environment

quote:

Visa operates at the heart of Europe�s payments ecosystem � and at the heart of our own business are two astonishing data centres.

Together, they crunch their way through 490 transactions a second (rising to 1,600 at peak times). In less than a tenth of a second, they identify your Visa account, screen your transaction for fraud, and route it through to your card issuer � and they haven�t suffered a single second of downtime in more than seven years (and that equates to more than 145 billion transactions).

Wow....if you didn't know any better they could easily be describing Bitcoin.....if it worked in a completely different way.

quote:

Water � we have pushed our annual water use down to 5.1m� per full time employees
(whereas the WRAP Green Official Guide suggests an acceptable figure of 6.5 m�)
Waste � in the past year alone our recycling rates have risen from 70% to 78%
(WRAP suggests a Good Practice Target of 60-to-70%) whilst our paper use fell by a third
Energy � all of our electricity comes from renewable sources, and our annual carbon emissions are running at 14,329 tonnes.
What does that mean?

Well, back in 2009, each transaction we processed came at the cost of 1.56 grams of carbon. By 2014 that figure had plummeted to 0.4 grams.

And how big is that?

Well, it�s been reported that a Google search is the equivalent of 0.8 grams. And every active user on Facebook equates to 269 grams a month. Meanwhile, driving one kilometre emits 140 grams. And, in manufacturing an average smartphone, 16kg is emitted.

# ? Apr 11, 2018 00:27

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

Psh,
Yeah it�s easy to go green when you�re subsidized by taxes and commissions 🙄

Btw George Soros is getting into bitcoin, he played you all again

https://www.bloomberg.com/news/articles/2018-04-06/george-soros-prepares-to-trade-cryptocurrencies-as-prices-plunge

# ? Apr 11, 2018 00:29

Powershift: Nov 23, 2009

Tacky-rear end Rococco posted:

This temporary price stability is no fun at all. I don't want to have to wait a week for the next freefall.

Yeah, it's perfectly stable in that 6600-7400 range.

# ? Apr 11, 2018 00:31

wid: Sep 7, 2005; Living in paradise (only bombed once)

QuarkJets posted:

Not to mention that the financial system also takes a tiny fraction of the amount of power used by cryptocurrencies, while providing much more transaction bandwidth, and superior service and benefits

Even if one were to assume crypto is doing all the things banks and payment processors do, thevfact is banks and processors do not have to run their computers to spit out random numbers or have more computers in the network than needed. There is not a single thing crypto is doing that is more efficient than financial institutions. The whole point of the set up is to be decentralized, which ironically with all cryptos, that they're centralizing at every opportunity.

# ? Apr 11, 2018 00:37

The End: Apr 16, 2007; You're welcome.

Comfy Fleece Sweater posted:

Psh,
Yeah it’s easy to go green when you’re subsidized by taxes and commissions 🙄

Let's move those goalposts again!

# ? Apr 11, 2018 09:26

QuarkJets: Sep 8, 2008

wid posted:

Even if one were to assume crypto is doing all the things banks and payment processors do, thevfact is banks and processors do not have to run their computers to spit out random numbers or have more computers in the network than needed. There is not a single thing crypto is doing that is more efficient than financial institutions. The whole point of the set up is to be decentralized, which ironically with all cryptos, that they're centralizing at every opportunity.

https://medium.com/@kaistinchcombe/decentralized-and-trustless-crypto-paradise-is-actually-a-medieval-hellhole-c1ca122efdec

quote:

Eight hundred years ago in Europe � with weak governments unable to enforce laws and trusted counterparties few, fragile and far between � theft was rampant, safe banking was a fantasy, and personal security was at the point of the sword. This is what Somalia looks like now, and also, what it looks like to transact on the blockchain in the ideal scenario.

Somalia on purpose. That�s the vision.

# ? Apr 11, 2018 09:40

buglord: Jul 31, 2010; Cheating at a raffle? I sentence you to 1 year in jail! No! Two years! Three! Four! Five years! Ah! Ah! Ah! Ah!; Buglord

Bitcoin Thread: Somalia on purpose. That�s the vision.

# ? Apr 11, 2018 15:56

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

Enthusiasms, enthusiasms...

Is comfy doing a bit or is he genuinely that retard brained

# ? Apr 11, 2018 16:18

Refried Noodle: Feb 23, 2012

A bit

# ? Apr 11, 2018 17:55

Refried Noodle: Feb 23, 2012

Coin

# ? Apr 11, 2018 17:55

Heath: Apr 30, 2008; 🍂🎃🏞️💦

Refried Noodle posted:

A bit

# ? Apr 11, 2018 17:56

Razorwired: Dec 7, 2008; It's about to start!

Alan Smithee posted:

Is comfy doing a bit or is he genuinely that retard brained

He's mining the thread for Laffcoin

# ? Apr 11, 2018 18:10

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

Alan Smithee posted:

Is comfy doing a bit or is he genuinely that retard brained

Dawg

# ? Apr 11, 2018 19:04

Powershift: Nov 23, 2009

Razorwired posted:

He's mining the thread for Laffcoin

Yeah, well good luck, i've got a laffcoin ASIC

Tuur Demeester
Bitcoin Savings and Trust
pimp_alex91@hotmail.com

# ? Apr 11, 2018 19:13

LanceHunter: Nov 12, 2016; Beautiful People Club

buglord posted:

Bitcoin Thread: Somalia on purpose. That�s the vision.

# ? Apr 11, 2018 19:30

Harveygod: Jan 4, 2014; YEEAAH HEH HEH HEEEHH

YOU KNOW WHAT I'M SAYIN

THIS TRASH WAR AIN'T GONNA SOLVE ITSELF YA KNOW

Refried Noodle posted:

A bit

Refried Noodle posted:

Coin

an ICO, PANA-COIN!

# ? Apr 11, 2018 19:35

Nessus: Dec 22, 2003; After a Speaker vote, you may be entitled to a valuable coupon or voucher!

buglord posted:

Bitcoin Thread: Somalia on purpose. That�s the vision.

I've heard Somalia's getting out from under lately, too, so it's not even "Somalia" it's "Somalia as constituted a decade ago."

of course they're imagining it will be Rhodesia instead

# ? Apr 11, 2018 19:40

divabot: Jun 17, 2015; A polite little mouse!

JavaScript SecureRandom() isn�t securely random � most web wallets affected � and the bug was warned of five years ago.

If you used web-based software to generate your keys - check with your author or vendor.

why is cryptocurrency software like this

(you know why)

# ? Apr 11, 2018 19:58

Waltzing Along: Jun 14, 2008; There's only one
Human race
Many faces
Everybody belongs here

Alan Smithee posted:

Is comfy doing a bit or is he genuinely that retard brained

Both. He's that trumpy to think his bit is still funny after he's run it into the ground.

# ? Apr 11, 2018 21:38

Pochoclo: Feb 4, 2008; No...; Clapping Larry

divabot posted:

JavaScript SecureRandom() isn�t securely random � most web wallets affected � and the bug was warned of five years ago.

If you used web-based software to generate your keys - check with your author or vendor.

why is cryptocurrency software like this

(you know why)

Why hire competent experienced developers when you can get some guy who once read a tutorial online to do it for a tenth of the price?

# ? Apr 11, 2018 22:03

comedyblissoption: Mar 15, 2006

js_real_secure_random

# ? Apr 11, 2018 22:04

kordansk: Sep 12, 2011

Alan Smithee posted:

Is comfy doing a bit or is he genuinely that retard brained

I was wondering the same thing to be honest. If it�s a bit it�s just not funny anymore. If he�s serious then his brains are broke from the heat of his machines mining coins.

# ? Apr 11, 2018 22:33

QuarkJets: Sep 8, 2008

comedyblissoption posted:

js_real_secure_random

It's just one line:

return 4 # true randomness provided by die roll

# ? Apr 11, 2018 23:37

wid: Sep 7, 2005; Living in paradise (only bombed once)

kordansk posted:

I was wondering the same thing to be honest. If it’s a bit it’s just not funny anymore. If he’s serious then his brains are broke from the heat of his machines mining coins.

It's a gimmick and he's pretty funny at it.

# ? Apr 11, 2018 23:42

Waltzing Along: Jun 14, 2008; There's only one
Human race
Many faces
Everybody belongs here

kordansk posted:

I was wondering the same thing to be honest. If it�s a bit it�s just not funny anymore. If he�s serious then his brains are broke from the heat of his machines mining coins.

He doesn't post like that in the other thread(s).

# ? Apr 11, 2018 23:50

McGiggins: Apr 4, 2014; by R. Guyovich; Lipstick Apathy

AUSTRAC, the Australian moneylaundering and financial terrorism goverment depertment, just got policing, auditing and transaction monitoring powers over all exchanges that operate or do business in australia.

So my question for you all, is this good for bitcoin?

# ? Apr 12, 2018 01:09

DerekSmartymans: Feb 14, 2005; The
Copacetic
Ascetic

McGiggins posted:

AUSTRAC, the Australian moneylaundering and financial terrorism goverment depertment, just got policing, auditing and transaction monitoring powers over all exchanges that operate or do business in australia.

So my question for you all, is this good for bitcoin?

Everything is good for bcash.
I mean bitcoin.

# ? Apr 12, 2018 01:19

Shinjobi: Jul 10, 2008; Gravy Boat 2k

wid posted:

It's a gimmick and he's pretty funny at it.

The people trying to dunk on Comfy are worse than Comfy by a large margin.

# ? Apr 12, 2018 02:02

AARP LARPer: Feb 19, 2005; THE DARK SIDE OF SCIENCE BREEDS A WEAPON OF WAR; Buglord

Shinjobi posted:

The people trying to dunk on Comfy are worse than Comfy by a large margin.

Comfy is great. Big fan, big fan of the fleece man.

# ? Apr 12, 2018 02:06

jimmyjams: Jan 10, 2001; King Kong of Megadongs
Gobblin' them mega schlongs
Makin' sure they mega long
Stroke' 'em if they mega strong

McGiggins posted:

AUSTRAC, the Australian moneylaundering and financial terrorism goverment depertment, just got policing, auditing and transaction monitoring powers over all exchanges that operate or do business in australia.

So my question for you all, is this good for bitcoin?

need i remind you bitcoin can *only* go up

# ? Apr 12, 2018 02:10

lazorexplosion: Mar 19, 2016

Risc1911 posted:

So hodl use spiked when it was the worst financial advice. Good going reddit.

lazorexplosion fucked around with this message at 02:34 on Apr 12, 2018

# ? Apr 12, 2018 02:30

wid: Sep 7, 2005; Living in paradise (only bombed once)

McGiggins posted:

AUSTRAC, the Australian moneylaundering and financial terrorism goverment depertment, just got policing, auditing and transaction monitoring powers over all exchanges that operate or do business in australia.

So my question for you all, is this good for bitcoin?

The exchanges are now legitimate financial institutions recognized by the government. This is a step closer to crypto being adopted by the AU as their official currency. Time to buy before it goes to the moon!

# ? Apr 12, 2018 02:58

McGiggins: Apr 4, 2014; by R. Guyovich; Lipstick Apathy

Jesus, wid. That is actually the stance people are going to take on this. :psyduck:

# ? Apr 12, 2018 03:41

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

wid posted:

It's a gimmick and he's pretty funny at it.

Who the gently caress are you? And any comments on the Easter bunny dad?

# ? Apr 12, 2018 04:11

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# ? May 29, 2024 23:47

Dark Off: Aug 14, 2015

divabot posted:

JavaScript SecureRandom() isn�t securely random � most web wallets affected � and the bug was warned of five years ago.

If you used web-based software to generate your keys - check with your author or vendor.

why is cryptocurrency software like this

(you know why)

So basically you could mine the miners?

# ? Apr 12, 2018 08:32

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