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https://mobile.twitter.com/HeSoDope/status/1091820480489697280
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Feb 4, 2019 04:02
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https://mobile.twitter.com/NickMicale/status/1091814995476791296
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Feb 4, 2019 04:04
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https://mobile.twitter.com/kwabtweet/status/1091880316975923207
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Feb 4, 2019 04:05
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AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA it's a loving spreadsheet very inefficiently shared across the internet what's the "technology" part? the public key encryption? it's been around for decades
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Feb 4, 2019 04:07
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https://mobile.twitter.com/AlecZiupsnys/status/1091811304367640577
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Feb 4, 2019 04:07
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a clock.. inside?.. a toaster? and it requires a 20,000 mw plant to power? the technological revolution is here!!
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Feb 4, 2019 04:10
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don't you luddites understand that you'll be able to know what time it is when your toasts pop??
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Feb 4, 2019 04:13
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[in bitcoiner voice] Bring me the cold deer. I want to watch it expire, due to fiat.
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Feb 4, 2019 04:18
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regardless of the absolute stupidity of this tweet, he's also fundamentally and mathematically wrong. that 1 bitcoin is not a fixed percentage of the future economy because bitcoins keep getting lost and therefore 1 is a greater and greater percentage of his fantasy football economy.
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Feb 4, 2019 04:25
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your money is only a fixed number if you never use it for anything i know this particular flavor of brain damage isn't new or rare among bitcoiners, but i can't stop being baffled by it
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Feb 4, 2019 04:41
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there's 17.5 million bitcoins currently all of them are either currently in someone's possession or lost until magic computers break all of encryption forever i just don't understand how they think that somehow the 3 or so not lost bitcoins get to be averaged out over the entire global money supply. like how does that even begin to make sense?
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Feb 4, 2019 04:55
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its like the market cap, just take all the money in the world, divide it by the number of bitcoins and see how many trillions of lambos you can buy in the future with your 3 micro satoshis
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Feb 4, 2019 04:56
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 that didn't answer the question foolgoul
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Feb 4, 2019 05:01
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Boxturret posted:
all the bitcoin in the world are worth 41 billion, until you sell one, at which point the remaining bitcoin are worth about 20 billion, until you sell another...
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Feb 4, 2019 05:06
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imagine if i sold a picture of pleasurekevin to myself for 10 trillion dollars then i make 1000 more i could say with all confidence and google certification that more than all the money in the world is invested in pictures of pleasurekevin
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Feb 4, 2019 05:11
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Boxturret posted:imagine if i sold a picture of pleasurekevin to myself for 10 trillion dollars Congratulations, you just found out how every ICO after bitcoin/ethereum works.
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Feb 4, 2019 05:15
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EorayMel posted:Congratulations, you just found out how every ICO after bitcoin/ethereum works. 
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Feb 4, 2019 05:25
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I am only crypto newbie.. just learning
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Feb 4, 2019 05:28
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i really dont get how so many people don't understand that something being rare does not automatically make it valuable. there are way less than 21m of TF2 hats that there will never be more of and only a few people suggested basing the world economy on the max head. and even if cryptocurrency was adopted as world currency there is no reason for them to pick bitcoin specifically since anyone can create new blockchains with any number of coins. and even if they still did pick bitcoin the miners could vote to raise the limit.
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Feb 4, 2019 05:53
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so the world economy collapses and all money turns to ash...how do people get bitcoin? this is the thing i don't understand, it isn't like you have the holders then all the other bitcoins are just floating in the aether waiting to get picked up, all bitcoins belong to someone. in this scenario who in their right mind would accept a bucket of money dust for precious precious bitcoins. idk they way some of them talk it seems like the economy would be the same now but only in bitcoins and they own a large percentage of itmy brain is melting tryig to understand themhlpme
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Feb 4, 2019 06:08
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bitconi market cap*globaleconomy/number of bcash-number of dogcoin+X/number of marrks=moon/mars-pluto+lambo^ross solve for x
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Feb 4, 2019 06:16
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Boxturret posted:so the world economy collapses and all money turns to ash...how do people get bitcoin? this is the thing i don't understand, it isn't like you have the holders then all the other bitcoins are just floating in the aether waiting to get picked up, all bitcoins belong to someone. in this scenario who in their right mind would accept a bucket of money dust for precious precious bitcoins. if you had a total financial paralysis, i guess you could find yourself in a world where people don't trust checking accounts the way they used to, so credit cards and checks and money orders stop being widely accepted but in that case, you would think barter and cash deals would be the order of the day, not weird internet money i cannot think of a scenario where there is a working power grid, and things to buy and sell, but the cash in my wallet is worthless if the cash in my wallet isn't valuable then it's probably time to rely on guns and clubs to steal things, rather than purchase them
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Feb 4, 2019 06:25
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CampingCarl posted:and even if cryptocurrency was adopted as world currency there is no reason for them to pick bitcoin specifically since anyone can create new blockchains with any number of coins. and even if they still did pick bitcoin the miners could vote to raise the limit. not just that, but even if it's bitcoin that's chosen, which fork of it will be The One True Money? there's over 100
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Feb 4, 2019 06:30
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Suspicious posted:not just that, but even if it's bitcoin that's chosen, which fork of it will be The One True Money? there's over 100
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Feb 4, 2019 06:32
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KnifeWrench posted:your money is only a fixed number if you never use it for anything they also seem to have left the text ", but it can be scammed away or rubberhosed out of you" off the end of they`re tweet
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Feb 4, 2019 06:32
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Boxturret posted:there's 17.5 million bitcoins currently as the number of bitcoins goes down, you simply add more decimal places that's literally their answer more zeroes for everyone
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Feb 4, 2019 06:39
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It's like the end of that animaniacs movie where the entire economy is powered by two ha'pennies shuffling around, except instead of ha'pennies it's satoshis
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Feb 4, 2019 06:52
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...! posted:as the number of bitcoins goes down, you simply add more decimal places i get that bit i just don't understand how the transition is going to work can someone that goes on and posts in the reddit (kevin?) ask them for an explanation of how bitcoin is actually supposed to take over? please my brain si dyng
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Feb 4, 2019 07:24
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mining is already centralized. bitmain has overwhelming control of both the current mining power (because they own a lot of miners) and the intermediate-future potential mining power (because they have the best miner design and the most expertise in making them). the only real check on their absolute power over bitcoin is the health of the ordinary financial system: if bitmain seriously abused their power, people would have options. in a world where somehow bitcoin is the transaction network of record, who is going to stop bitmain from giving themselves a larger block reward or demanding extortionate fees when they can just 51% attack any altchains into oblivion? ...i mean the real answer is men with guns, who are not going to tolerate some random chinese company having total control of the world financial system
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Feb 4, 2019 07:42
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Boxturret posted:so the world economy collapses and all money turns to ash...how do people get bitcoin? this is the thing i don't understand, it isn't like you have the holders then all the other bitcoins are just floating in the aether waiting to get picked up, all bitcoins belong to someone. in this scenario who in their right mind would accept a bucket of money dust for precious precious bitcoins. they seem to talk as if the economy will completely collapse and nobody will have a job, since all their fantasies have nocoiners able to do nothing but worship at the feet of hodlers in the hope of getting some scraps i guess if you're a former bankster with a billion now-worthless fiat dollars, and you find someone in the rubble with a satellite phone to connect to the bitcoin satellites, you can trade your dollars for use as fuel in exchange for a satoshi or two
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Feb 4, 2019 08:37
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if everyone is dead and the world is on fire what is the use of bitcoin
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Feb 4, 2019 08:44
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Boxturret posted:if everyone is dead and the world is on fire what is the use of bitcoin its backed by math
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Feb 4, 2019 08:50
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Boxturret posted:if everyone is dead and the world is on fire what is the use of bitcoin hodl. cockroaches massively outnumber humans, and once they start adopting bitcoin, it'll go way past the moon
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Feb 4, 2019 08:55
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all the smartphones melted and the cockroaches hands are too tiny to do smoke signals properly
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Feb 4, 2019 09:00
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Could Satoshi create a proof of work algorithm so difficult, he himself would not be able to mine?
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Feb 4, 2019 09:12
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Boxturret posted:all the smartphones melted and the cockroaches hands are too tiny to do smoke signals properly like all alleged problems with bitcoin, the lightning network will solve it. no, don't ask me how.
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Feb 4, 2019 09:32
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spankmeister posted:Could Satoshi create a proof of work algorithm so difficult, he himself would not be able to mine? yes next question
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Feb 4, 2019 09:35
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I expect the blockchain space to continue to be a dumpster fire, with fast-talking salesmen promoting it as a fabulous advance in household heating, lighting and fragrance technology
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Feb 4, 2019 11:51
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If you really expect society to collapse, I'd say investing in farming lessons is a better bet than funny money.
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Feb 4, 2019 13:07
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if society collapses these fuckers would the first to be eaten by the roving cannibal gangs that formed up for the love of collective self-protection, assless chaps, and shared human organ stew recipes
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Feb 4, 2019 14:32
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