|
divabot posted:*well-actuallys into the thread* dude you are the best and I love your job. Get paid to make fun of bitcoin idiots
|
#
?
Oct 28, 2019 00:19
|
|
|
|
| # ? Jun 3, 2024 11:19 |
|
|
divabot posted:*well-actuallys into the thread* I mean maybe they did it in a really stupid and non-scaleable bitcoin full-believer way in this specific instance, but what if they weren't loving morons?
|
|
#
?
Oct 28, 2019 06:29
|
|
|
Azathoth posted:It really doesn't, which is why I think it's doomed to failure, but at least theoretically they can badger people about using it while they're already on Facebook. They also could theoretically have people start using it without that info by someone giving them FaceBux and only require banking details on cash out since unlike every other service, people have a reason to use Facebook without needing to transfer cash. Nah, Facebook could make it work because giving everybody an account without having to link your bank account is really what would make it different. They can give you free money to kickstart the system and encourage you to link your bank account, but only allow transfers out of a given size (so you cannot withdraw your free F$ 1). They can add micropayments, user to user transfers, “get paid to watch ads,” and get one or two big chains to accept exchanging F$ for real goods. Everybody can do micropayments immediately, and everybody can receive money, so you have instant adoption for 1 B users. The reason it’s going to fail is more due to unfortunate timing, releasing it while privacy scandal after privacy scandal surfaces.
|
|
#
?
Oct 28, 2019 06:36
|
|
|
The reason it's going to fail is because the person in charge is a diehard true believer who earnestly thought that calling it a cryptocurrency would allow them to do an end-run around all the existing financial regulations - and so they were completely blindsided when governments called them up asking about how they planned to comply with all those existing laws.
|
|
#
?
Oct 28, 2019 06:55
|
|
|
I'm certain that calling it a crypto brought it more scrutiny than if it didn't. If Facebook created a money market fund from a basket of different currencies, said they'd smooth over currency risks, issued "shares" with par of $1, and duly registered it with the SEC and called it Zuckerbucks then there'd be a ton less regulator outrage. There'd be a lot less hype too, but that hype was in other pie-in-the-sky cryptocurrencies hoping that Zuckerberg was going to make buttcoins moon...somehow.
|
|
#
?
Oct 28, 2019 13:27
|
|
|
klafbang posted:Nah, Facebook could make it work because giving everybody an account without having to link your bank account is really what would make it different. Again, not unique. You can paypal/zelle/whatever to someone via their email address or phone number. That is their "account" and they can't withdraw the fund without giving bank information.
|
|
#
?
Oct 28, 2019 15:57
|
|
|
shame on an IGA posted:Tether is a fiat cryptocurrency.  comedyblissoption posted:but what if they weren't loving morons? Bitcoin: but what if they weren't loving morons?
|
|
#
?
Oct 28, 2019 17:10
|
|
|
Pretty sure all cryptocurrencies are "fiat" currencies, none of them are backed by anything.
|
|
#
?
Oct 28, 2019 17:15
|
|
|
Lambert posted:Pretty sure all cryptocurrencies are "fiat" currencies, none of them are backed by anything. True, but Tether is special. Most of them hype their code-imposed limit as better than national fiat currencies because with national fiat currencies there is always the chance the central bank will lose it's mind and go all Zimbabwe causing hyperinflation and other bad things. Tether has no limit and in fact has been printed off with wild abandon, just like they claim to fear can happen with national fiat currencies, and there's barely a peep that this is bad.
|
|
#
?
Oct 28, 2019 17:28
|
|
|
quote:Bitcoin: but what if they weren't loving morons? Rearranging things to make sense.
|
|
#
?
Oct 29, 2019 04:55
|
|
|
Azathoth posted:The way I understand it is that they're trying to do Venmo but on a larger scale, since the US (and a surprising number of other places) still don't have the kind of quick person to person money transfers that Europe has. i live in the us, in a state that is usually years behind the coasts, and everyone I know uses venmo to transfer money quickly to each other
|
|
#
?
Oct 29, 2019 19:40
|
|
|
There's like a million ways to transfer money within the US. Paypal, Square, Venmo, Zelle (which sends it right from your bank login), all kinds of other stupid apps that do similar things. My impression is that Libra would be more about sending money between countries, which brings up some serious issues about the US government having some control (or at least knowledge of) of money entering or leaving the US. Why blockchain is even involved I can't explain. Maybe because they think it will help them avoid regulations as they aren't sending actual currency, but the congressional hearings with Zucc really did not go well. They hated Libra, dismissed it almost at the beginning and then made arguments that Facebook should be broken up and also called the Zucc on his new bullshit origin story that Facebook was started in response to the Iraq war. That dude is a fuckin worm
|
|
#
?
Oct 29, 2019 20:15
|
|
|
comedyblissoption posted:Is there an angle here that makes sense where you add layers of technobabble obfuscation in the hopes that gives you a pass to practically create your own sovereign corporate currency and central bank without running afoul of government agents who yell at you that you're not allowed to create your own currency? no, there is no angle that makes sense here. there is no reason that makes sense to do this as a blockchain. I and many other pundits were asked to opine on this by space-filling journalists, and all of us said "they can't be doing a blockchain, they're smart, that's a dumb idea." we severely underestimated the degree to which zuckerberg is a fast-talking chancer who got lucky. Jabor posted:The reason it's going to fail is because the person in charge is a diehard true believer who earnestly thought that calling it a cryptocurrency would allow them to do an end-run around all the existing financial regulations - and so they were completely blindsided when governments called them up asking about how they planned to comply with all those existing laws. david marcus was the president of loving paypal. the man literally in fact knows payments, and compliance, and international issues. that means this is even stupider than it would be if he didn't.
|
|
#
?
Oct 29, 2019 21:31
|
|
|
It was pretty gratifying seeing Zuck actually trying "Well, we're just handling money. We aren't applying for a banking license  " only to get told "No poo poo, dope. Thats why we called you in for a hearing."
|
|
#
?
Oct 29, 2019 21:48
|
|
|
It’s important to remember that Mark Zuckerberg is not a visionary tech genius, but actually a massive creep whose claim to fame was a website he made to rate how fuckabale his classmates are. He frankly has too much power and authority and the fact that we have to check in with him about Facebook and how it’s slowly destroying our democracy or furthering fascist rhetoric in SE Asia and he’s literally no authority to speak on anything more qualified than a blinged our MySpace page
|
|
#
?
Oct 30, 2019 06:42
|
|
|
Wow, leave Myspace out of this Tom did nothing wrong
|
|
#
?
Oct 30, 2019 10:13
|
|
|
Bust Rodd posted:It’s important to remember that Mark Zuckerberg is not a visionary tech genius, but actually a massive creep whose claim to fame was a website he made to rate how fuckabale his classmates are. He frankly has too much power and authority and the fact that we have to check in with him about Facebook and how it’s slowly destroying our democracy or furthering fascist rhetoric in SE Asia and he’s literally no authority to speak on anything more qualified than a blinged our MySpace page There is an ancient proverb: If you want to know what God thinks of money, look at who he gives it to.
|
|
#
?
Oct 30, 2019 10:34
|
|
|
lest we forget: More money = better than
|
|
#
?
Oct 30, 2019 15:40
|
|
|
divabot posted:"they can't be doing a blockchain, they're smart, that's a dumb idea." Bitcoin: they can't be doing it, they're smart, that's a dumb idea. But seriously slapping buzzwords like AI and blockchain on things is so common the only thing I can fault them on (so far as that goes) is laziness. It's like if they started throwing around "synergy" again. Bust Rodd posted:It’s important to remember that Mark Zuckerberg is not a visionary tech genius, but actually a massive creep whose claim to fame was a website he made to rate how fuckabale his classmates are. I think even that is way too much credit, as it's implying the site has features. They opened an Ivy League yearbook so plebs could feel like they were part of it. It has no feature, except to be on it.
|
|
#
?
Oct 31, 2019 19:40
|
|
|
I thought facebook was a good "newsfeed" but they've pivoted so many times who even knows anymore. I stopped using it two years ago, I really don't need all of my political and pop culture fixations viewable and commented on by my friends and family.
|
|
#
?
Oct 31, 2019 19:52
|
|
|
Keeping up to date on current events is much better as a solo activity
|
|
#
?
Oct 31, 2019 20:01
|
|
|
revwinnebago posted:Bitcoin: they can't be doing it, they're smart, that's a dumb idea. I've found buzzwords to be highly useful when pitching projects because the folks who control the budget hear them in industry news and want to brag to their bosses and other assorted people at the country club that they're visionary thought leaders innovating in new paradigms by driving core synergies. Just gotta keep a path that allows you to say that you're totally doing <buzzword>, even if you're not really.
|
|
#
?
Oct 31, 2019 22:02
|
|
|
https://www.youtube.com/watch?v=SASJRv_i_Oc
|
|
#
?
Oct 31, 2019 22:58
|
|
|
Azathoth posted:I've found buzzwords to be highly useful when pitching projects because the folks who control the budget hear them in industry news and want to brag to their bosses and other assorted people at the country club that they're visionary thought leaders innovating in new paradigms by driving core synergies. Just gotta keep a path that allows you to say that you're totally doing <buzzword>, even if you're not really. We're using a lean sigma approach to improve synergy between departments and drive efficient interplay of agency-wide potential to achieve holistic results.
|
|
#
?
Nov 1, 2019 04:52
|
|
|
Just lol if you don't use at least six sigmas. Just lol.
|
|
#
?
Nov 1, 2019 10:24
|
|
|
I’m more six sigma than lean but sometimes you need a bit of fat before you get really lean.
|
|
#
?
Nov 1, 2019 11:29
|
|
|
sigma balls
|
|
#
?
Nov 1, 2019 13:11
|
|
|
Azathoth posted:I've found buzzwords to be highly useful when pitching projects because the folks who control the budget hear them in industry news and want to brag to their bosses and other assorted people at the country club that they're visionary thought leaders innovating in new paradigms by driving core synergies. Just gotta keep a path that allows you to say that you're totally doing <buzzword>, even if you're not really. Do you know the story of POJO? Nerd story: In programming it became massively in-fashion to use pre-built packages for stuff. You'd walk into a room and your manager would ask if you're using SPQR and XD and you definitely have to be using LGBTQ+ because all the hip companies are using that. Some programmers were so fed up that they started telling their bosses they were going to use the superior POJO framework, and POJO methodologies, for all future projects. Managers were very excited. POJO means "Plain old Java objects" as in not using a single buzzwords thanks.
|
|
#
?
Nov 1, 2019 14:32
|
|
|
The difference with blockchain vs six sigma or agile is you can just smile and nod and go to the learning workshops with whatever consultants they brought in but with blockchain IBM will send some doofus whose resume is like 6 months of writing python test scripts but has rebranded himself a blockchain expert to lead a project and then throw a fit to upper management when you say "nah we're just gonna use postgres"
|
|
#
?
Nov 1, 2019 16:19
|
|
|
Stop me if you've heard this one: https://www.cbc.ca/news/canada/british-columbia/einstein-cryptocurrency-bitcoin-complaints-1.5347104 quote:Wu said he went to the Einstein Exchange office last Friday and "discovered that the elevator is locked for all floors." Shumagorath fucked around with this message at 05:31 on Nov 5, 2019 |
|
#
?
Nov 5, 2019 05:29
|
|
|
Somehow totally unsurprised this was in Vancouver. We're like the world money laundering capital. Also lol at reporting the money laundering to the RCMP. Their money laundering task force is barely staffed. (Because both parties who get in power at the federal level seem to just love them some money laundering.)
|
|
#
?
Nov 5, 2019 07:42
|
|
|
Well, the observation that Bitfinex is the source of most Bitcoin price jumps seems to be making its way out into the world. And apparently some people are pinning the entire rise to almost $20K on a single player: https://www.technologyreview.com/f/614673/one-bitcoin-whale-may-have-fueled-the-currencys-price-spike-in-2017/ Edit: longer article linked from the MIT Tech Review one: https://www.bloomberg.com/news/articles/2019-11-04/lone-bitcoin-whale-likely-fueled-2017-price-surge-study-says
|
|
#
?
Nov 5, 2019 23:24
|
|
|
On my drive home today I saw a license plate : BTC HODL. Strangely enough, it wasn't on a lambo.
|
|
#
?
Nov 6, 2019 04:35
|
|
|
MrUnderbridge posted:On my drive home today I saw a license plate : BTC HODL. Strangely enough, it wasn't on a lambo. This is terrible, but it is what came to mind: 
|
|
#
?
Nov 6, 2019 04:54
|
|
|
Interviewed a potential roommate and about 15 mins in he started going on about bitcoin and how he has accumulated one so far. Needless to say, he won't be moving in.
|
|
#
?
Nov 6, 2019 15:12
|
|
|
https://twitter.com/janl/status/1191991670327390208
|
|
#
?
Nov 7, 2019 01:27
|
|
|
That makes a lot of sense
|
|
#
?
Nov 7, 2019 03:08
|
|
|
It really doesn't.
|
|
#
?
Nov 7, 2019 11:58
|
|
|
Fleetwood Crack posted:Interviewed a potential roommate and about 15 mins in he started going on about bitcoin and how he has accumulated one so far. No, just make sure he's a miner, write up an airtight contract to split the bills so he pays all the electric while you take care of water or whatever and voila, free heating!
|
|
#
?
Nov 7, 2019 15:50
|
|
|
|
| # ? Jun 3, 2024 11:19 |
|
|
Is there a word or phrase for concepts that are couched behind so much esoteric jargon to make them seem more legitimate? Because blockchain is that.
|
|
#
?
Nov 7, 2019 16:12
|
|
