Bitcoin: no angel investors, only Faustian bargains

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Shinjobi: Jul 10, 2008; Gravy Boat 2k

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# ? Jun 29, 2018 00:59

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# ? May 31, 2024 11:29

comedyblissoption: Mar 15, 2006

Jenrai posted:

But I thought it wasn't profitable to mine if it went below 6k?

based on my complicated technical analysis, the floor is the mining cost in china and it will never go below that because they will always make sure they put up buywalls that will always guarantee the floor is above that there is nothing wrong with this strategy

# ? Jun 29, 2018 01:18

Heath: Apr 30, 2008; 🍂🎃🏞️💦

This is good for Bitcoin, if you think about it

# ? Jun 29, 2018 01:28

CheesyDog: Jul 4, 2007; by FactsAreUseless

does the profitability number account for stolen computing power (from malware) and stolen electrical power (from their parents)?

# ? Jun 29, 2018 01:36

lazorexplosion: Mar 19, 2016

/r/bitcoin attempts to use bitcoin's lightning network

# ? Jun 29, 2018 01:43

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

Jenrai posted:

But I thought it wasn't profitable to mine if it went below 6k?

You think I�m mining at 6k? You idiot

You absolute buffoon

I�m mining 500k in 2020, you complete twit

# ? Jun 29, 2018 01:44

EorayMel: May 30, 2015; WE GET IT. YOU LOVE GUN JESUS. Toujours des fusils Bullpup Fran�ais.

Bitcoin is at $6000. so now you have to trust someone else?

# ? Jun 29, 2018 01:47

Papa Was A Video Toaster: Jan 9, 2011

Who's the goon with the coins in their rear end? Not that I want mine back, I just need to hear the funds are safe, in the rear end.

# ? Jun 29, 2018 02:02

DerekSmartymans: Feb 14, 2005; The
Copacetic
Ascetic

TVsVeryOwn posted:

Who's the goon with the coins in their rear end? Not that I want mine back, I just need to hear the funds are safe, in the rear end.

Funds are safu(p my rear end).

# ? Jun 29, 2018 02:08

Gorak: Dec 25, 2004; "Oh my God, they revived Gorak! You bastards!"

TVsVeryOwn posted:

Who's the goon with the coins in their rear end? Not that I want mine back, I just need to hear the funds are safe, in the rear end.

I believe that was Banned user "Minimalist Program".

This is good for bitcoin.

# ? Jun 29, 2018 02:40

hailthefish: Oct 24, 2010

A custodial rear end?!

# ? Jun 29, 2018 02:42

Risc1911: Mar 1, 2016

lazorexplosion posted:

/r/bitcoin attempts to use bitcoin's lightning network

can you link the thread?

# ? Jun 29, 2018 02:49

lazorexplosion: Mar 19, 2016

Risc1911 posted:

can you link the thread?

https://www.reddit.com/r/Bitcoin/comments/8rgq0c/lightning_network_submarine_swaps/e0rq1ke/

# ? Jun 29, 2018 02:50

Andy Dufresne: Aug 4, 2010; The only good race pace is suicide pace, and today looks like a good day to die

I'm going to repeat something I've said before, but it's been a couple of months so w/e.

The block reward is 12.5 btc every 10 minutes approximately. 1800 BTC distributed per day as a reward for mining. At $6000 that's $10.8 million every single day.

Many of those BTC have to be cashed out to pay bills. The value only stays equal if a new $10.8 million is rolling in every single day. The idea of that should be pretty hilarious on its face.

But don't worry I PROMISE crypto currencies are deflationary. Or they will be, in 25 years or so...

# ? Jun 29, 2018 03:14

I would blow Dane Cook: Dec 26, 2008

Andy Dufresne posted:

I'm going to repeat something I've said before, but it's been a couple of months so w/e.

The block reward is 12.5 btc every 10 minutes approximately. 1800 BTC distributed per day as a reward for mining. At $6000 that's $10.8 million every single day.

Many of those BTC have to be cashed out to pay bills. The value only stays equal if a new $10.8 million is rolling in every single day. The idea of that should be pretty hilarious on its face.

But don't worry I PROMISE crypto currencies are deflationary. Or they will be, in 25 years or so...

Bitcoin is a ponzi scheme? :thunk:

# ? Jun 29, 2018 03:38

comedyblissoption: Mar 15, 2006

Andy Dufresne posted:

I'm going to repeat something I've said before, but it's been a couple of months so w/e.

The block reward is 12.5 btc every 10 minutes approximately. 1800 BTC distributed per day as a reward for mining. At $6000 that's $10.8 million every single day.

Many of those BTC have to be cashed out to pay bills. The value only stays equal if a new $10.8 million is rolling in every single day. The idea of that should be pretty hilarious on its face.

But don't worry I PROMISE crypto currencies are deflationary. Or they will be, in 25 years or so...

dont worry "they" can just keep putting up impenetrable buywalls to prevent the price from crashing there is no fundamental flaw with this strategy

# ? Jun 29, 2018 04:15

comedyblissoption: Mar 15, 2006

also you forgot the mtgox settlement where they are going to open the floodgates on slamming the markets with giant amounts of bitcoins in the short-term

# ? Jun 29, 2018 04:16

I would blow Dane Cook: Dec 26, 2008

https://twitter.com/WilliamShatner/status/1012503908269191169

# ? Jun 29, 2018 04:27

The Glumslinger: Sep 24, 2008; Coach Nagy, you want me to throw to WHAT side of the field?; Hair Elf

I would blow Dane Cook posted:

https://twitter.com/WilliamShatner/status/1012503908269191169

Did someone finally say Buttcoin?

Also

https://twitter.com/ncweaver/status/1012522111632486400

# ? Jun 29, 2018 05:11

Jombo: Feb 20, 2009

I'm starting a petition to change the name of the thread to "Bitcoin is at $5000. Nice, but, have you ever head about my pending subpoena?!"

# ? Jun 29, 2018 05:26

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

Bitcoin is at $5000. shitcoin

# ? Jun 29, 2018 08:31

Goa Tse-tung: Feb 11, 2008; ;3; Yams Fan

I would blow Dane Cook posted:

https://twitter.com/WilliamShatner/status/1012503908269191169

wait thats the real Shatner :stare:

# ? Jun 29, 2018 10:16

The Duchess Smackarse: May 8, 2012; by Lowtax

The man who brought us Tek War

# ? Jun 29, 2018 12:42

nickhimself: Jul 16, 2007; I GIVE YOU MY INFO YOU LOG IN AND PUT IN BUILD I PAY YOU 3 BLESSINGS

Jombo posted:

I'm starting a petition to change the name of the thread to "Bitcoin is at $5000. Nice, but, have you ever head about my pending subpoena?!"

Lol

Yes please

# ? Jun 29, 2018 12:59

Spuckuk: Aug 11, 2009; Being a bastard works

Thread title is correct Oh wow it's going down and down further as I type

# ? Jun 29, 2018 12:59

insidius: Jul 21, 2009; What a guy!

The irony of this statement:

"I prefer to use currency which does not loose value when central bank wants to print more money."

# ? Jun 29, 2018 13:48

poverty goat: Feb 15, 2004

Thanks to NASA's embrace of blockchain-related products and services, we will begin to see the shortening and strengthening of spacecraft supply chains in the very near future. NASA researchers have started using blockchain technology to improve the "cognitive networking and computing infrastructure" of deep-space missions in an effort to make better data-driven decisions for autonomous spacecraft. Broadening this blockchain implementation to include a superior means of supply chain management will benefit the economy � making it easier and less expensive to bring products to market � and allow NASA to economize costs without compromising quality.

# ? Jun 29, 2018 13:48

Jenrai: May 4, 2014

Source your quotes.

# ? Jun 29, 2018 15:15

Moridin920: Nov 15, 2007; by FactsAreUseless

Space station destroyed due to FUD

# ? Jun 29, 2018 15:17

FanofPortals: Sep 22, 2006; BILL FILLMAFF'S GREATEST DISAPPOINTMENT

Moridin920 posted:

Space station destroyed due to FUD

Challenger 2 has exploded. This is good for bitcoin.

# ? Jun 29, 2018 15:25

Prester Jane: Nov 4, 2008; by Hand Knit

Adar posted:

I looked up that fine, well adjusted individual's other po

schizophrenia: not even once

I mean it's not entirely without it upsides. For example, doing magic mushrooms with schizophrenia is one hell of an experience...

# ? Jun 29, 2018 19:09

Risc1911: Mar 1, 2016

Crypto Coin Graveyard Fills Up Fast as ICOs Meet Their Demise
Fewer than 4 percent of ICOs with market caps of $50 million to $100 million were successful or promising, according to a March analysis from ICO advisory firm Satis Group. Most ICOs were raising money without having an experienced development team or an actual product, just white papers studded with promises.

https://www.bloomberg.com/news/articles/2018-06-28/crypto-coin-graveyard-fills-up-fast-as-icos-meet-their-demise

# ? Jun 30, 2018 00:40

I Was The Fury: Oct 19, 2012; Always stop to smell the flowers, just in case they're weeds

Risc1911 posted:

Crypto Coin Graveyard Fills Up Fast as ICOs Meet Their Demise
Fewer than 4 percent of ICOs with market caps of $50 million to $100 million were successful or promising, according to a March analysis from ICO advisory firm Satis Group. Most ICOs were raising money without having an experienced development team or an actual product, just white papers studded with promises.

https://www.bloomberg.com/news/articles/2018-06-28/crypto-coin-graveyard-fills-up-fast-as-icos-meet-their-demise

Woah I've never seen anything this good for Bitcoin

# ? Jun 30, 2018 00:41