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Parkingtigers posted:https://twitter.com/norynsyra/status/1067158288775569408?s=21 Did u know? The world's richest capitalist is actually a communist?
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Nov 27, 2018 00:30
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scott adams is bad tho
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Nov 27, 2018 00:30
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Dolphin posted:scott adams is bad tho yes
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Nov 27, 2018 00:33
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Dolphin posted:scott adams is bad tho it is known
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Nov 27, 2018 01:06
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by me: miners are so hosed lol
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Nov 27, 2018 01:36
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Pawn 17 posted:When have they ever given infrequent audits? all the time! they just define "audit" as a cross-your-heart solemn promise, like on their website where they say they have $2.5 billion in assets. can't you read?
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Nov 27, 2018 01:45
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Jenrai posted:You, sir, are a hero among men. From grauz gifs to gangtags to this masterpiece. Also this: This is the thread content I come here to see.
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Nov 27, 2018 02:37
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i would like to thank myself for buying $37 of bitcoin with money i had left over on Robinhood so that i could turn a profit from paying so much goshdarned attention to this shitshow because as soon as i did that the price has plummeted with no signs of stopping you're welcome.
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Nov 27, 2018 02:40
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https://twitter.com/_blockandchain_/status/1067114278044356608
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Nov 27, 2018 03:04
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quote:The hash rate changes approximately every two weeks. But capital expenditure — building and deploying single-purpose mining hardware — has a rather longer lead time. Is there a single loving stage of this that isn't total grift?
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Nov 27, 2018 03:10
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Lambert posted:Very stable, goes up whenever Tether pumps in a few millions. Yup, Tether pumped another $50m USDT in yesterday to get a 12 hour ~$500 spike. Back at 3700 now.
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Nov 27, 2018 03:23
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Heath posted:Is there a single loving stage of this that isn't total grift?
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Nov 27, 2018 03:26
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Twinty Zuleps posted:i would like to thank myself for buying $37 of bitcoin with money i had left over on Robinhood so that i could turn a profit from paying so much goshdarned attention to this shitshow because as soon as i did that the price has plummeted with no signs of stopping congrats guy
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Nov 27, 2018 03:27
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Sashimi posted:The laughs we've all had following this are pretty legit. It turns out the real Bitcoin was all the fun we had along the way. so, uh, sorry if you invested money in the actual, literal Bitcoin
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Nov 27, 2018 03:31
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Sashimi posted:The laughs we've all had following this are pretty legit. That's why I don't want it to totally die just yet. It's been an amazing source of entertainment for a long time.
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Nov 27, 2018 03:32
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I wonder what the Winklevoss boys position is these days
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Nov 27, 2018 03:33
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The Protagonist posted:I wonder what the Winklevoss boys position is these days
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Nov 27, 2018 03:36
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Here's another fun read by that guy. https://davidgerard.co.uk/blockchai...ain-conference/
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Nov 27, 2018 03:37
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It's amazing how long the tether has maintained its value, I'd imagine that once tether breaks it's all gonna go to hell.
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Nov 27, 2018 03:38
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Lolie posted:Here's another fun read by that guy. "That guy" is Divabot.
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Nov 27, 2018 03:38
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Isn’t tether just the same kind of fraudulent market data that propped up Mtgox?
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Nov 27, 2018 03:40
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Going back and reading the first page of this thread is hilarious.Duckbox posted:I'm pretty sure it's just another investment bubble. Serak posted:I would question what on earth would make you believe this Chief McHeath posted:More like In one year and 576 pages we have come full circle.
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Nov 27, 2018 03:51
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I'm confused, is the assertion that all tethers are backed up with dollars and they just burned 50 million to prop the price up for three hours?
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Nov 27, 2018 04:36
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Chef Boyardeez Nuts posted:I'm confused, is the assertion that all tethers are backed up with dollars and they just burned 50 million to prop the price up for three hours? Haha 50 million dreams more like. Lol backed by 50 million real dollars just lol at that.
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Nov 27, 2018 04:38
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Chef Boyardeez Nuts posted:I'm confused, is the assertion that all tethers are backed up with dollars and they just burned 50 million to prop the price up for three hours? Sort of. The tether/stablecoin stuff is pretty shady, but basically acts as a reserve for the Bitfinex Exchange to buy bitcoins to keep the price up. They are not audited so there’s little reason to presume that their data reflects any kind of reality.
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Nov 27, 2018 04:39
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Is there a tally of how much "totally real money" that tether has put into the system? It seems like every time I check this thread the printer starts running.
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Nov 27, 2018 05:03
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Chef Boyardeez Nuts posted:Is there a tally of how much "totally real money" that tether has put into the system? It seems like every time I check this thread the printer starts running. https://coinmarketcap.com/currencies/tether/ Circulating Supply 1,856,421,736 USDT Total Supply 2,580,109,502 USDT https://wallet.tether.to/transparency
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Nov 27, 2018 05:14
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Heath posted:Is there a single loving stage of this that isn't total grift? Yeah, my takeaway was also that the companies selling mining rigs were the real winners throughout this whole thing. They could theoretically just take their earnings and walk away (assuming they're not reinvesting them in coins...)
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Nov 27, 2018 05:17
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I'd love to know how much theymos has made from all the donations "for new software" and purchased statuses over the years. If he held onto even a fraction of the Bitcoin the forum collected it would have been worth serious money over the last 12 months.
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Nov 27, 2018 05:21
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Thesaurus posted:Yeah, my takeaway was also that the companies selling mining rigs were the real winners throughout this whole thing. They could theoretically just take their earnings and walk away (assuming they're not reinvesting them in coins...) bitmain is facing bankruptcy because they went all-in on the bch hash war lol
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Nov 27, 2018 05:25
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Thesaurus posted:Yeah, my takeaway was also that the companies selling mining rigs were the real winners throughout this whole thing. They could theoretically just take their earnings and walk away (assuming they're not reinvesting them in coins...) They all did. Even though they gouged the price of rigs by 500-1000% for months they are still getting hosed by investing in coins or creating their own coins.
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Nov 27, 2018 05:28
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i hope bitmain dies, they're a cancer on the crypto community
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Nov 27, 2018 05:29
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There Bias Two posted:I thought that each coin becomes increasingly more computationally intensive to mine, where eventually you'll reach the point where I imagine there will always be miners so long as it hasn't completely collapsed, as there were during it's rise.
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Nov 27, 2018 05:53
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ArbitraryC posted:
Once all the coins are mined they will be dependent on transaction fees, which don't offer the same "get rich quick" incentive.
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Nov 27, 2018 06:19
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This is a Pokemon card investor, explaining why bitcoin is bad. https://www.youtube.com/watch?v=Zsz-SIpqx6Y
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Nov 27, 2018 06:36
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between bitcoin and your hairline, which has more potential for growth
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Nov 27, 2018 06:52
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A big flaming stink posted:between bitcoin and your hairline, which has more potential for growth The hairline. There's plenty more value for bitcoin to lose.
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Nov 27, 2018 06:59
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there's two things that make coins more difficult to mine: 1. the system self-adjusts to keep the rate of coin production constant, which means if everyone throws more compute power at it the difficulty goes up. if people stop mining the difficulty will go down. (but it can only adjust when new blocks are successfully mined, so the "frisbee on the roof" scenario is if a whole *lot* of compute goes away and it starts taking a week between blocks which grinds transactions to a halt.) 2. about every 4 years the reward (in number of bitcoins) for making a new block is cut in half. eventually it becomes zero and no new butts can be made. thus the attraction to bitcoin from goldbuggers, libertarian idiots, and economic autists who think value is absolute and inflation is bad. Chef Boyardeez Nuts posted:I'm confused, is the assertion that all tethers are backed up with dollars and they just burned 50 million to prop the price up for three hours? bitfinex got hacked in 2015 and 2016; they got $72 million worth of butts stolen the second time. after a bunch of back and forth they said they'd give people back their deposits with a combination of bitcoin and tether. in 2017 they created like 2 billion worth of tether people didn't know that bitcoin and tether were the same people until november 2017. bitfinex went through hidden offshore company registration to set that up. so no, skeptical outsiders think that tether is not at all backed and they're running a complicated ponzi in the style of enron. you can do a lot of manipulation if you run both a large exchange and a currency that at least some people think has value. Klyith fucked around with this message at 07:14 on Nov 27, 2018 |
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Nov 27, 2018 07:09
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Lawlicaust posted:They all did. Even though they gouged the price of rigs by 500-1000% for months they are still getting hosed by investing in coins or creating their own coins. Don't forget they mined with the miners for months and only gave them to their customers after they passed the break even point for the electricity cost
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Nov 27, 2018 07:14
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Lemming posted:Don't forget they mined with the miners for months and only gave them to their customers after they passed the break even point for the electricity cost Getting high on your own demand. That's the real poo poo.
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Nov 27, 2018 07:23
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