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Well it's a bit more complex because you have to get the zeros as a hash of previous transactions hence the integrity
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Nov 25, 2018 19:47
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The whole world is a ponzi scheme.
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Nov 25, 2018 19:53
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https://www.youtube.com/watch?v=zjAmfiL3IVc&t=36s no pity for the people who didnt pull out their money back when the bogdanoffs promised to crash these markets months ago
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Nov 25, 2018 20:00
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Great timing, Ohio: https://www.theverge.com/2018/11/25/18111336/ohio-bitcoin-business-taxes-josh-mandel
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Nov 25, 2018 20:22
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reachable at Ohio Morons 30 E. Broad Street - 9th Floor Columbus, Ohio 43215
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Nov 25, 2018 20:28
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gary oldmans diary posted:in the data being hashed theres also public part of some basic public key cryptography too to verify what transactions are processed. just like everything on the internet has used for a long time There's an entire generation of bitcoiners that don't seem to be aware that public key cryptography has been around since the 1970s. So they keep reinventing common PKI things, except with bitcoins awkwardly shoehorned in: when logging into a system, instead of typing a password, why not use a bitcoin wallet to authenticate? Brilliant! 
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Nov 25, 2018 20:33
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gary oldmans diary posted:https://www.youtube.com/watch?v=zjAmfiL3IVc&t=36s What in the holy hell is wrong with their faces
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Nov 25, 2018 20:34
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McSpanky posted:What in the holy hell is wrong with their faces grift injections
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Nov 25, 2018 20:37
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Nothing, anymore
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Nov 25, 2018 20:38
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ZeeBoi posted:Great timing, Ohio: https://www.theverge.com/2018/11/25/18111336/ohio-bitcoin-business-taxes-josh-mandel Josh Mandel is the poster boy for 21st century GOP chud failsons so this is in no way surprising
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Nov 25, 2018 20:45
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ZeeBoi posted:Great timing, Ohio: https://www.theverge.com/2018/11/25/18111336/ohio-bitcoin-business-taxes-josh-mandel what do you mean, tax deliquency? why is my btc valued on time-of-receipt? i started the payment transaction three months ago
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Nov 25, 2018 21:21
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notevenrealguy posted:It wouldn't surprise me if China and also some western countries give blockchain based ID systems and digital voting a shot in hopes of preventing fraud. The idea that blockchain tech somehow prevents fraud by bad actors is one of the biggest indicators that its main proponents have no idea what the tech actually is.
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Nov 25, 2018 21:45
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Dumb Lowtax posted:That's all this is. What. This is one of the most wasteful things in all of history, maybe actually the worst in sheer inefficiency. Even better, the mining hardware is not useful for anything else. A hasher isn't a computer, it can only compute hashes and is useless for anything else. If the price goes low enough to make mining unprofitable they will just go in a giant garbage dump.
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Nov 25, 2018 22:17
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Nov 25, 2018 22:30
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Dumb Lowtax posted:That's all this is. What.
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Nov 25, 2018 22:55
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A purely digital commodity whose only value is for illicit activity exchange and raw bubble speculation that requires enormous energy investment that also contributes significantly to global environmental crisis is such a stupid idea that I imagine no sci fi dystopian author had come up with it before bitcoin.
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Nov 25, 2018 22:57
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To be "fair" to the buttlords, the massive waste is more like a side effect of their principles gone wild rather than an explicit design feature. While other cryptocurrencies are still stupid, they are somewhat less lousy - if with the same incentives to burn a thousand tons of coal to make a libertarian ten cents. But then, as we learned from the old bitcoin forums, 1.0 is always the best version.
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Nov 25, 2018 23:03
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Spatial posted:Yup. Now look up the transaction rate and the power consumption figures. Single digits for thousands of megawatts.
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Nov 25, 2018 23:05
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And it's back over $4000.
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Nov 25, 2018 23:21
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Computational difficulty for proof of work and trying to avoid 51% attacks by having a large enough computational network is part of bitcoin's inherent design and is not really the principles gone wild. A better argument would be bitcoin might've been a proof of concept that got out of hand since global transaction rate limits that can't scale are a very obvious design flaw that someone wouldn't want for something that is now bitcoin's size. The extreme energy waste is a fundamental principle of the design of these cryptocurrencies AFAIK.
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Nov 25, 2018 23:23
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Lolie posted:And it's back over $4000.
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Nov 25, 2018 23:24
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Nessus posted:To be "fair" to the buttlords, the massive waste is more like a side effect of their principles gone wild rather than an explicit design feature. While other cryptocurrencies are still stupid, they are somewhat less lousy - if with the same incentives to burn a thousand tons of coal to make a libertarian ten cents. it shoulda been in hitchhikers guide. i.e. ford and arthur stumble upon a civilization forever stranded on it's planet cause they burned all their fuel printing digital money
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Nov 25, 2018 23:26
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Up almost $400 over the course of an afternoon What a stable fuckin currency I look forward to the great glorious future where I place an order online for some clothes and just a few hours later get a message saying "number go up. you gotta pay more now, or your order's canceled"
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Nov 25, 2018 23:30
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Very stable, goes up whenever Tether pumps in a few millions.
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Nov 25, 2018 23:35
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comedyblissoption posted:Computational difficulty for proof of work and trying to avoid 51% attacks by having a large enough computational network is part of bitcoin's inherent design and is not really the principles gone wild. A better argument would be bitcoin might've been a proof of concept that got out of hand since global transaction rate limits that can't scale are a very obvious design flaw that someone wouldn't want for something that is now bitcoin's size. The extreme energy waste is a fundamental principle of the design of these cryptocurrencies AFAIK.
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Nov 25, 2018 23:38
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Crypto: an idea so obviously self-destructive that hundreds of cyberpunk dystopia authors never thought of it before, because even in the technofascist hellfuture the corporate overlords want actual fuckin' money.
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Nov 25, 2018 23:42
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When is the next time the rewards halve? I have no idea, but if thing's don't get more irrational it should be the death knell.
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Nov 26, 2018 00:22
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https://twitter.com/DoveyWan/status/1066678209679249408
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Nov 26, 2018 00:27
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McSpanky posted:What in the holy hell is wrong with their faces Too much plastic surgery. 
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Nov 26, 2018 00:28
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And back under $4000.
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Nov 26, 2018 00:34
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McSpanky posted:What in the holy hell is wrong with their faces https://knowyourmeme.com/memes/people/bogdanoff-twins
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Nov 26, 2018 01:00
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If I was going to play with the funbux (and I won't), I'd say buy today and sell on the afternoon of December 3. I feel like people who get checks on the first of the months are going to go nuts, have fun quoting this in a few days to laugh at me
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Nov 26, 2018 01:35
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Ooooooohhhh China's out lol
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Nov 26, 2018 01:38
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Facebook Aunt posted:Too much plastic surgery. why look like a lost menendez brother when you've got lion face money
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Nov 26, 2018 01:48
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lol: OneSirMeow posted:I would expect (big-enough) miners would just use futures or options to lock-in profits and just keep mining.
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Nov 26, 2018 01:52
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Yeah whatever bitcoin is under $4k for now ha ha ha it sucks for now But here’s the thing: it was at $18k once, and it’ll be there again. You won’t be laughing so much then
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Nov 26, 2018 02:14
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My Linux Rig posted:Yeah whatever bitcoin is under $4k for now ha ha ha it sucks for now Ah, but friend, laughing at GhosTTy posts is priceless
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Nov 26, 2018 02:16
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My Linux Rig posted:Yeah whatever bitcoin is under $4k for now ha ha ha it sucks for now Source your quotes.
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Nov 26, 2018 02:17
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Waffle House posted:Ah, but friend, laughing at GhosTTy posts is priceless Are you sure it’s priceless? You could have bought bitcoins for $30 and sold today for close to $4k. But you didn’t cause you were too busy shitposting about it, seems like it did cost you something
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Nov 26, 2018 02:18
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My Linux Rig posted:Are you sure it’s priceless? Whole lotta people who bought in very early also cashed out very early. Dog dick coffee table guy cashed out at what, 40 bucks? And he bought some cheap Nissan or something with it and then got hosed by the IRS. I could've bought bitcoins at 60 cents but I wouldn't have a dime out of it today even if I did, because the whole ecosystem is hosed. Largest exchange gets hacked and robbed and exit scams in shame? Smaller exchange is running their entire platform on an Amazon instance with no backups? Ponzi scheme? Hard drive failure? Typo a single digit while sending money? Fall asleep next to a mining rig and wake up with brain damage? Unfamiliar with specific nuances of your country's tax code? Went to a bitcoin conference and had your dozen laptops stolen in plain sight? Got mugged by someone who overheard your nerd poo poo? Swallowed your USB drive because you were terrified of getting robbed? Fiat user not affected edit: I looked it up, dog dick coffee table guy bought a Prius and it was more like 20 bucks Ad by Khad fucked around with this message at 02:37 on Nov 26, 2018 |
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Nov 26, 2018 02:33
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