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i wrote a quick news update on Bitfinex/Tether and that inconvenient near-billion-dollar hole in their accounts.orange juche posted:So Craig I present to you: Prof. Dr. Dr. Nakamoto Jones, Man Of Action: quote:I was offline for much of January 2011. During the time, I had travelled to Venezuela where I was working with a “Jawbreaker” team. The work was focused on stopping the trafficking of humans for the sex trade. I was in “prevention.” I did not bring people to justice, I worked with teams to stop things, permanently.
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Apr 30, 2019 23:38
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, or "Satoshi Nakamoto" as he likes to claim, may be mining BCH again, and controls over 41% of the mining pool. Butt nutters think that he is trying to restart the hash wars and try to 51% attack BCH to prove that his particular brand of shitcoin is the one true shitcoin.
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like a modern day prometheus he brought fire down to earth so that people would stop doing crimes, then he left us to become a modern day batman just punching the crime out of people, returning dejected after discovering that punching people doesn't stop crime only to find that in his absence people had figured out how to use fire to do crimes. such a tragic figure.
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Apr 30, 2019 23:58
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bcash sv-ii to replace proof-of-work with satoshi's true vision, a new and vastly more efficient consensus algorithm called "stop-arguing-with-me-or-i'll-sue-your-punk-rear end"
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May 1, 2019 00:22
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Soricidus posted:bcash sv-ii to replace proof-of-work with satoshi's true vision, a new and vastly more efficient consensus algorithm called "stop-arguing-with-me-or-i'll-sue-your-punk-rear end" aka the boxturret`s mom algorithm
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May 1, 2019 01:31
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Has anyone said bcack yet?
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May 1, 2019 01:32
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Boxturret posted:if its fake then the dude signing for both bitfinx and tether is absolutely real can you believe that mean attorney general lady wants to make a big deal out of it
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May 1, 2019 01:50
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AlbieQuirky posted:the dude signing for both bitfinx and tether is absolutely real bitcoin is beautiful sometimes 
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May 1, 2019 01:51
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tether's attorneys are saying this is totes not a conflict of interest but, ah, cannot explain why this sort of thing would be in the best interests of tether holders conversely it would be hilarious if they've basically rediscovered fractional reserve banking except they've hosed it up just lol
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May 1, 2019 01:56
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Weatherman posted:aka the boxturret`s mom algorithm  kw0134 posted:tether's attorneys are saying this is totes not a conflict of interest but, ah, cannot explain why this sort of thing would be in the best interests of tether holders they literally say several times that banks run fractional reserves therefore everyone should be able to use fractional reserves since they are obviously a good thing
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May 1, 2019 02:27
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https://twitter.com/ButtCoin/status/1123438017392386049 LOL, apparently Bitfinex didn't take a look at the court filings at all when they responded to the charges.
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May 1, 2019 05:42
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i lust for bitfinex death
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May 1, 2019 06:13
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...! posted:they literally say several times that banks run fractional reserves therefore everyone should be able to use fractional reserves since they are obviously a good thing the intellectual and moral bankruptcy goes fantastic with their literal bankruptcy
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May 1, 2019 06:15
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Pharohman777 posted:https://twitter.com/ButtCoin/status/1123438017392386049 they did, this is just a clueless reddit support peon
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May 1, 2019 08:16
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...! posted:they did, this is just a clueless reddit support peon are you sure? i've heard "garbis" before but i can't quite place it...
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May 1, 2019 08:20
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you should place it in the garbis where it belongs, hth
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May 1, 2019 08:35
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bitcoin: garbis all the way down
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May 1, 2019 08:39
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For those that played Runescape (self.Bitcoin) submitted 10 hours ago by Spasyeniye Do you see the similarities between bitcoin and rares in the game like party hats? There is only a certain amount of party hats in the game and they were cheap and easy to get when they first came out. Then they were discontinued and they kept rising in value over time. I just looked at a website selling them for USD and the price of a blue party hat is $5,150! All that money just for an item only valued by the limited amount of people that play Runescape. So if the community of just one game can make a digital item be worth so much, how much could Bitcoin be worth if it was adopted globally?
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May 1, 2019 10:09
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lol lumenaudiredditor for 3 months 3 points 9 hours ago For those who want to see what happens to the price of an asset when max supply isn’t capped, checkout the same item on OSRS. http://services.runescape.com/m=itemdb_oldschool/Blue_partyhat/viewitem?obj=1042 inflation Bitcoin_puzzlerredditor for 2 weeks [score hidden] 39 minutes ago Wow, the moment when you realize that a game gives you a better financial forecast than any (central) banker or economist would. Bitcoin_puzzlerredditor for 2 weeks [score hidden] 41 minutes ago Party hats are the perfect example. Runescape gold and in game gold in general is very inflationary due to making the game easy enough to play (you should easily get wealth to buy and play). So there is a tremendous amount of gold coins, just like there are tremendous amount of dollars (to play the labor game). In runescape indeed party hats with the blue one the most rare are scare, so people buy it to hedge against in game inflation. Now we have bitcoin, who is also scarce and will become our blue party hat. You can see that we do value a blue party hat in game at $5k, it is just pixels, but we value them. Here you can clearly see how the young generation defers from the older generation. Anyone below 40 would agree that the party hat can cost something like that. Anyone above 40 thinks we are crazy to pay that kind of money for some pixels. Right now that latter group is in power (banks, politics, central banks, stockmarket). As soon as the younger group gets more established and gain power/wealth we will see a tremendous swift of "real life" wealth to digital wealth like bitcoin.
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May 1, 2019 10:12
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...! posted:lol Butts are party hats, it all makes sense
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May 1, 2019 10:18
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mongodb... but with blockchain!!! https://medium.com/provendb/introducing-provendb-7a92efe6e6f3
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May 1, 2019 10:52
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Gotta hand it to the butters: purchasing digital party hats at $5k is a good hedge against wealth.
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May 1, 2019 11:09
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so i noticed that bitfinex says tether is 74% backed by 2.1 bn in "cash and cash equivalents" i wonder what the actual ration of cash/cryptocurrency is
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May 1, 2019 12:40
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orange juche posted:Butts are party hats, it all makes sense true i mean i putt my butt on urmom's head all the time so
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May 1, 2019 13:07
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...! posted:lol i love how the bitcoiner brain goes from "X is rare so it has a lot of value" to "anything that is rare must be valuable" and the only reason other people dont agree is that they are old.
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May 1, 2019 13:23
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CampingCarl posted:the bitcoiner brain lol
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May 1, 2019 13:38
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...! posted:mongodb... but with blockchain!!! Finally something that makes mongo even more dumbfuck stupid.
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May 1, 2019 13:46
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CampingCarl posted:you need to diversify your investments, have you heard of team fortress 2? somehow agreeing a worthless thing can be overvalued is held as a proof of value which is impressively dumb
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May 1, 2019 14:39
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...! posted:Here you can clearly see how the young generation defers from the older generation. Anyone below 40 would agree that the party hat can cost something like that. Anyone above 40 thinks we are crazy to pay that kind of money for some pixels. yep nobody under 40 thinks you're an idiot for paying $5000 for a digital hat for your character in a game for children nobody at all
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May 1, 2019 15:08
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Shame Boy posted:yep nobody under 40 thinks you're an idiot for paying $5000 for a digital hat for your character in a game for children Runescape is not a game for children, it's a game for mentally ill adults, who's been playing it for over a decade.
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May 1, 2019 15:16
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...! posted:For those that played Runescape (self.Bitcoin) I just looked at a website selling them for usd and the [asking] price of a blue party hat was $2100. so either that poster was exaggerating for effect, the price is insanely volatile, and/or the market is completely irrational. this is an indication that the blue party hat has extremely high utility, not that it's being speculated on. it couldn't possibly be that the cost is zero for storing inventory, so there's no incentive for sellers to price competitively, and the prices are just aspirational for the sellers. it's almost like bitcoiners don't care if anyone is actually buying at that price or why as long as big number
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May 1, 2019 15:45
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as far as i can tell the price is different to a wide degree by exchange so this makes a lot of sense in bitcoin terms
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May 1, 2019 15:49
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KnifeWrench posted:it's almost like bitcoiners don't care if anyone is actually buying at that price or why as long as big number but if we all just agree that each bitcoin is worth $100,000 then i'll personally be rich!!!
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May 1, 2019 15:54
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Mr. Nice! posted:so i noticed that bitfinex says tether is 74% backed by 2.1 bn in "cash and cash equivalents" you give me $100, and I write you an iou. then i spend the $100 on drugs and hookers, and i'm dead broke in general, so that iou isn't backed by anything. but wait! i write another $100 iou, and just keep it for myself. now my ious are 50% backed by "cash equivalents"! there are no flaws in this brilliant scheme
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May 1, 2019 16:16
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IOU at UCI IOU at UCI China Illinois China Illinois, China Illinois China Illinois China Illi Nois no nois man, China Illinois China Illinois IOU at UCI IOU at UCI
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May 1, 2019 16:24
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https://mobile.twitter.com/RealRossU/status/1123592943871225857
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May 1, 2019 16:47
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I don't think you'll have any problem with this particular adjustment
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May 1, 2019 17:00
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May 1, 2019 17:06
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 lol its not even a proper party hat its one of those terrible paper crowns you get out of christmas crackers
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May 1, 2019 17:08
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Boxturret posted:
discount jughead coin
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May 1, 2019 17:30
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Boxturret posted:
Where do snowmen keep their money? In a snowbank!
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May 1, 2019 17:52
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