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Nobody talks about the fact that there is a finite amount of dollar bills I can cram up my rear end, but with bitcoin, I can store an almost infinite amount of funds in my turd cutter
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Jun 15, 2018 18:26
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Jun 15, 2018 18:31
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I can't imagine it will drop under 1k because thats cheap enough for people to buy a bitcoin 'just in case'. Anyway everyone with a brain knows that dogecoin is the cryptocurrency you want to have. In the year 2050, dogecoin will be the worlds global currency.
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Jun 15, 2018 18:31
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Stealthgerbil posted:I can't imagine it will drop under 1k because thats cheap enough for people to buy a bitcoin 'just in case'. It's around 6500 right now. But that just in case thing is part of why the drop will be slow.
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Jun 15, 2018 18:37
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Won't the cost to mine them go down as the price goes down and people stop mining?
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Jun 15, 2018 18:39
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Bitcoin. Corruption: negligible
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Jun 15, 2018 18:39
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People 100% have died in bitcoin mining fires.
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Jun 15, 2018 18:41
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Bitcoiners present a disingenuous argument regarding Bitcoin's energy usage? Wow...
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Jun 15, 2018 19:00
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Love that black market, corruption and money laundering = negligible . Aren't those the main transaction uses these days? And comparing any of those numbers for worldwide systems used by everyfuckingone to the teeny use of dunning-krugerrands without correcting for size just hurts my soul as someone who knows how data analysis works.
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Jun 15, 2018 19:19
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Bip Roberts posted:People 100% have died in bitcoin mining fires. Too bad that isn't 100% of bitcoin miners have died.
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Jun 15, 2018 19:20
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Waltzing Along posted:Too bad that isn't 100% of bitcoin miners have died. You will swallow these words, Nocoiner
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Jun 15, 2018 19:36
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If all but 1 of the miners died that would be a net positive because you could go back to running all transactions on an old 386 processor and achieve literally the exact same amount of transactions and bitcoins mined as you currently do today.
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Jun 15, 2018 19:40
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nocoiners don't like facts, they like to suck off banksters and conjure up new fud while waiting for a hot load to enter their mouth also goldbugs are literal children giving value to shiny things
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Jun 15, 2018 21:15
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https://dailyhodl.com/2018/06/15/iota-tangle-based-citizen-id-card-launching-this-year/
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Jun 15, 2018 21:20
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ghosTTy posted:also goldbugs are literal children giving value to shiny things This is absolutely fantastic.
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Jun 15, 2018 21:23
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ghosTTy posted:nocoiners don't like facts, they like to suck off banksters and conjure up new fud while waiting for a hot load to enter their mouth I do love a good bankster dick from time to time but that has nothing to do with whether or not I hold any bits-coin
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Jun 15, 2018 22:29
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UK sees use of blockchain as nonviable for welfare and benefits system A trial proof of concept has indicated that use of blockchain was not viable due to limited take up potential and the expenses it would incur. https://financefeeds.com/uk-sees-use-blockchain-nonviable-welfare-benefits-system/
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Jun 15, 2018 22:54
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this is good for bitcoin
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Jun 15, 2018 23:15
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MrUnderbridge posted:Love that black market, corruption and money laundering = negligible . Okay, so the story is: All the news stories about Bitcoin used to buy drugs (and a little CP) on Darknets are totally false, as are the stories about exchanges shutting down and running off with the money. As are the stories about Venezuelans, Chinese, and other folks under tight currency restrictions moving and hiding capital internationally by converting it to Bitcoin. As are the stories about organized crime laundering proceeds through Bitcoin. Oh, and the malware folks holding businesses and hospitals and city governments hostage and demanding Bitcoin. So all those are Fake News. If it is indeed true that none of those things are happening, doesn't that imply that Bitcoin is so non-viable that drug dealers, capital movers, money launderers, etc. simply aren't interested in it? Or is this like the CP thing where it theoretically would be usable for that but the glorious light of Bitcoin causes the unvirtuous to turn away?
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Jun 15, 2018 23:23
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MrUnderbridge posted:Love that black market, corruption and money laundering = negligible . Anyway if some guy named Jihan can't turn a profit at all he'd probably liquidate at some point. I imagine Chinese people are on average less foolish than libertarians but would at least let it ride a few quarters to see if things perk up. Though if the market was ruled by a cartel of Chinese guys, they'd have reason to keep backing chip research but it would probably be more profitable for them to sell BitChips to idiot libertarians for actual money rather than constantly stab-loving each other while buying steadily increasing amounts of electricity.
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Jun 15, 2018 23:40
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Jimmy Hats posted:Won't the cost to mine them go down as the price goes down and people stop mining? Can't say about the cost, but it will become more and more difficult and less profitable as people stop mining
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Jun 15, 2018 23:59
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TapTheForwardAssist posted:Okay, so the story is: 
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Jun 16, 2018 00:03
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wow. that was really small
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Jun 16, 2018 00:04
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Mumpy Puffinz posted:wow. that was really small
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Jun 16, 2018 00:06
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Nessus posted:Please don't post small Ross. It really makes me wonder how long his friends had to wait as he heroically ran out into the rain to collect the car from the Sam's Club parking lot. They were probably there for hours
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Jun 16, 2018 00:09
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Mumpy Puffinz posted:Can't say about the cost, but it will become more and more difficult and less profitable as people stop mining I thought it was designed to becone less difficult as the power goes down
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Jun 16, 2018 00:16
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Jimmy Hats posted:I thought it was designed to becone less difficult as the power goes down What does power have to do with it? The reason you see people harping on the waste of energy is that there are soooooooooo many people trying to get rich w/ crypto there are tons of computers eating up power. But it's basically a lottery. Every time a coin is mined, the odds go down. So it will never be easier. The fewer people who mine, the slower the returns will be. The outlay of energy is going to be the same no matter how many people are mining because it is still going to take X hours to mine a coin. If there are 100 people mining and it takes 100 hours to mine a coin, then one of those people will get the coin. There there is one person mining, it will take 100 hours. Or I am talking out of my rear end. You should probably start mining.
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Jun 16, 2018 00:26
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Bitcoin can correct up or down in difficulty. The worry is if there's a mass shutoff, it won't correct fast enough to become relevant before everybody else quits. Alternatively another pool buys the extra capital and sinks the whole thing in a final 51% attack blowout.TapTheForwardAssist posted:Oh, and the malware folks holding businesses and hospitals and city governments hostage and demanding Bitcoin. So all those are Fake News.
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Jun 16, 2018 00:31
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Idk why people say it is hard to cash out anonymously. It's easy to track transactions to a wallet. It isn't easy to prove who owns it?
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Jun 16, 2018 00:33
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Jimmy Hats posted:I thought it was designed to becone less difficult as the power goes down not at all. it thinks it should take about ten minutes to find the answer. so the more computing power they put into it, the harder it got. If enough people leave it may take hours, or days, or even years to find that number that it thought would take ten minutes
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Jun 16, 2018 00:34
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shitcoin
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Jun 16, 2018 00:36
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jimmyjams posted:shitcoin nice. has anyone said buttcoin yet?
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Jun 16, 2018 00:37
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zedprime posted:Ransomware bitcoin is a bit Fake News, yeah. Its so hard to cash out anonymously anyone charging a bitcoin ransom is only interested on the pennies on the dollar you can get fencing them. Its largely state sponsored IT attacks with the plausible deniability its just some script kiddy who bought it from the Russian intelligence service. This must be that "Occam's Razor" I've heard so much about!
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Jun 16, 2018 01:09
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quote:Its so hard to cash out anonymously anyone charging a bitcoin ransom is only interested on the pennies on the dollar you can get fencing them. Wait, I thought Bitcoin was supposed to be totally anonymous, and easy to cash out. Is this one of those Schrodinger's Cat things where Bitcoin is simultaneously "so anonymous that oppressed people can liberate themselves from oppressive governments with it" but also "Bitcoiners are all ethical because no criminal would ever use a currency with a permanent ledger!" Bitcoin is both anonymous and totally transparent, depending on whichever argument is more convenient. And it's a currency but also a security, depending on who's trying to tax it. It's inspirationally religious, like "Jesus was fully human *and* full divine" or "the Trinity is simultaneously three separate persons but also one person."
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Jun 16, 2018 01:13
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TapTheForwardAssist posted:Wait, I thought Bitcoin was supposed to be totally anonymous, and easy to cash out. cept bitcoin is for libertarians and pedophiles
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Jun 16, 2018 01:20
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Risc1911 posted:UK sees use of blockchain as nonviable for welfare and benefits system you've been hitting my twitter haven't you I wrote this up in today's news post. I lol that blockchain literally is too rubbish for Universal Credit. also, you should trust the nice BBC ladies and not buy any bitcoin. also, 100% of blockchain white papers would be unimaginably improved by being narrated by Philomena Cunk.
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Jun 16, 2018 01:26
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COMRADES posted:Idk why people say it is hard to cash out anonymously.
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Jun 16, 2018 01:46
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Gobbeldygook posted:The problem is the last step of turning the bitcoins into cash. You need to find an individual or company that will give you money in some irreversible way that can't be traced back to you in exchange for bitcoins, who doesn't care if they are sending money to a drug dealer, member of ISIS planning an attack, credit card fraudster, child pornographer, etc, and hasn't themselves been blacklisted/arrested for not doing KYC/AML. Your choices are a bitcoin ATM (which probably all have cameras on them, relatively low daily/monthly limits, and might demand you break more laws by getting a fake ID) or meeting someone off localbitcoins in a Wal-Mart parking lot and hoping they don't just rob you. this guy gets it
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Jun 16, 2018 01:49
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also they can still probably find out who you are because everything is recorded.
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Jun 16, 2018 01:50
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| # ? May 31, 2024 13:28 |
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Easy to cash out butts anonymously: buy fentanyl from China off the darkweb, sell it to a wholesaler for filthy fiat. Simple.
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Jun 16, 2018 01:59
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