|
Gobbeldygook posted:Most of those complaints are from around the 2017 bubble. Please tell us about your buttcoin holdings, past and present, and how you have turned it into real money.
|
#
?
Jan 30, 2020 03:20
|
|
|
|
| # ? May 30, 2024 23:58 |
|
|
tango alpha delta posted:Repeat after me: know risk, know reward dont worry, the risk will go down eventually
|
|
#
?
Jan 30, 2020 03:53
|
|
|
dhrusis posted:know risk, know reward  The kind of reckless confidence people have in the dumbest poo poo is why this thread has been bookmarked for so long.
|
|
#
?
Jan 30, 2020 03:54
|
|
|
dhrusis posted:know risk, know reward Without regulation or accountability, sending money to an exchange is the equivalent of lighting your money on fire. Why is this difficult for you to understand?
|
|
#
?
Jan 30, 2020 03:58
|
|
|
dhrusis posted:know risk, know reward lmao dig up stupid
|
|
#
?
Jan 30, 2020 03:58
|
|
|
tango alpha delta posted:Without regulation or accountability, sending money to an exchange is the equivalent of lighting your money on fire. Why is this difficult for you to understand? lots of people are so rich it doesn't matter if they light some money on fire
|
|
#
?
Jan 30, 2020 04:03
|
|
|
tango alpha delta posted:Without regulation or accountability, sending money to an exchange is the equivalent of lighting your money on fire. Why is this difficult for you to understand? I agree, I don't recommend storing money on an exchange (although I do believe USD stored on Coinbase is FDIC insured, may be wrong). Coinbase is safe enough for the average person, I'd say.. not sure I'd go as far as lighting on fire... on what basis? Just sending money to the exchange means its gone? Or some day?
|
|
#
?
Jan 30, 2020 04:10
|
|
|
Sickening posted:
this is an awesome thread. Can you say more about the dumbest poo poo you are referring to? My comment was meant to highlight that this type of stuff is fairly risky but also has value and significant potential
|
|
#
?
Jan 30, 2020 04:13
|
|
|
orange juche posted:lmao I love the simpsons. They've probably got some hot takes on crypto... need to google that.
|
|
#
?
Jan 30, 2020 04:14
|
|
|
dhrusis posted:I agree, I don't recommend storing money on an exchange (although I do believe USD stored on Coinbase is FDIC insured, may be wrong). drat, they meet the minimum legal requirement to not get shut down instantly? trustworthy as gently caress
|
|
#
?
Jan 30, 2020 04:19
|
|
|
dhrusis posted:I love the simpsons. They've probably got some hot takes on crypto... need to google that. Number go down... D'oh!
|
|
#
?
Jan 30, 2020 04:50
|
|
|
dhrusis posted:I agree, I don't recommend storing money on an exchange (although I do believe USD stored on Coinbase is FDIC insured, may be wrong). you can't possibly expect to be taken seriously with questions like this
|
|
#
?
Jan 30, 2020 04:52
|
|
|
dhrusis posted:this is an awesome thread. Can you say more about the dumbest poo poo you are referring to? HAHAHAHAHAHAHA. gently caress I have forgotten how stubbornly thick you all could be. Crypto is ready to take off any day now, just like the last....wait what time is this the 105th?
|
|
#
?
Jan 30, 2020 05:31
|
|
|
Crypto/converted assets are so not covered by the FDIC that it's barely even mentioned on their website.
|
|
#
?
Jan 30, 2020 05:44
|
|
|
Yes, but have you considered this: 
|
|
#
?
Jan 30, 2020 06:57
|
|
|
dhrusis posted:I agree, I don't recommend storing money on an exchange (although I do believe USD stored on Coinbase is FDIC insured, may be wrong). Im pretty sure their fdic insurance is just that they, coinbase, put your real money in a real bank. Their account, not yours. So, the fdic insurance is probably really for all coinbase customers, not each individual one (reducing the coverage limit to a handful of dollars/customer instead of “enough for every normal person”). Also, fdic is not a thing for business accounts, so lol I may be remembering it wrong, or it may have changed, but more than likely when coinbase get hacked or “hacked” that ”fdic insurance” is likely at best 3-5 years of lawsuits away. E: also this McSpanky posted:Crypto/converted assets are so not covered by the FDIC that it's barely even mentioned on their website.
|
|
#
?
Jan 30, 2020 07:18
|
|
|
Isn't butts coins considered a security? It would be like the Fed covering your loses if you got mugged.
|
|
#
?
Jan 30, 2020 08:55
|
|
|
Checking in to see if Bitcoin has reached the moon yet.
|
|
#
?
Jan 30, 2020 09:42
|
|
|
AliX is on the crypto wagon. Mine bitcoins directly from the app. The only way to spend your bitcoins is to exchange them for coupons which you can sometimes (never) use for discounts on products and services.
|
|
#
?
Jan 30, 2020 09:50
|
|
|
So does it look like a lovely phone freemenuim game on purpose?
|
|
#
?
Jan 30, 2020 11:22
|
|
|
tango alpha delta posted:you can't possibly expect to be taken seriously with questions like this Sounds good.. I'll go ahead and take your comment seriously because it provides so much clear and convincing evidence.. LethalGeek posted:HAHAHAHAHAHAHA. gently caress I have forgotten how stubbornly thick you all could be. Crypto is ready to take off any day now, just like the last....wait what time is this the 105th? Cute, this sounds like the news anchors trying to understand the internet in the days before email. https://www.youtube.com/watch?v=95-yZ-31j9A Crypto is a very nascient technology right now, frought with risk, both known and currently unknowable. A lot of speculators have already gotten wrecked and will keep getting wrecked. There are also people who have been able to benefit from the continuously developing tech. I see this no different as other new technologies that have fueled past boom and bust cycles and that have disrupted industries. The legal services industry, as an example, over the next 10 years will likely experience some significant change as code based smart contracts continue to evolve.. law services like real estate transactions, title related insurance, and large value transfers will increasingly be performed in code faster and cheaper. We will likely see more physical world assets become tokenized and moved about with less friction. Services that currently cost thousands of dollars can be done quickly and cheaply with verifiable integrity. Dunno about yall but from where I'm from this stuff is worth money. There are a LOT of things blockchains can't or shouldn't do... but there are some things that they can do and will eventually do really well.. Its okay if you don't want to trust them yet, but the tech undoubtedly has potential.
|
|
#
?
Jan 30, 2020 12:55
|
|
|
baalaagaa posted:Checking in to see if Bitcoin has reached the moon yet. No moon  Just up +30% vs. US Dollar over 30 days, +172% over the last year, and 9000000% over the last decade 
|
|
#
?
Jan 30, 2020 12:59
|
|
|
I fully expect people to be talking about how crypto and the blockchain is a young technology right on the edge of adoption and everyone will be using it soon just you wait ten years from now, just as they have for the last ten years.
|
|
#
?
Jan 30, 2020 14:19
|
|
|
dhrusis posted:The legal services industry, as an example, over the next 10 years will likely experience some significant change as code based smart contracts continue to evolve.. law services like real estate transactions, title related insurance, and large value transfers will increasingly be performed in code faster and cheaper. We will likely see more physical world assets become tokenized and moved about with less friction. Services that currently cost thousands of dollars can be done quickly and cheaply with verifiable integrity. Dunno about yall but from where I'm from this stuff is worth money.
|
|
#
?
Jan 30, 2020 14:23
|
|
|
oohhboy posted:Isn't butts coins considered a security? It would be like the Fed covering your loses if you got mugged. no, they're a commodity - a pile of stuff. you could like insure the pile of stuff, i guess bitcoin custody turns out to be a super hard problem if you're trying to sell it as a service, because bitcoin is brittle nonsense anyone who compares crypto to the internet is a drooling loving idiot hth
|
|
#
?
Jan 30, 2020 14:24
|
|
|
dhrusis posted:No moon i can use the us dollar to buy things
|
|
#
?
Jan 30, 2020 14:41
|
|
|
Smart contracts are great - I forgot my wallet passphrase so I lost my house forever, but that's how house deeds work after all
|
|
#
?
Jan 30, 2020 14:49
|
|
|
ranbo das posted:I fully expect people to be talking about how crypto and the blockchain is a young technology right on the edge of adoption and everyone will be using it soon just you wait ten years from now, just as they have for the last ten years. That's good because its only grown in adoption over the last 10 years...Why wouldn't it continue to be around? kw0134 posted:Blockchain is a very large and slow database. The use case for blockchain is to create a currency to solve the Byzantine General problem where you live in a society that doesn't trust each other and will likely die of arsenic poisoning from their Soylent meals because government regulation is also bad. The blockchain bubble has already burst; we'll see if any of the "blockchain" uses make it out of the clueless ad copy stage into something resembling the original idea, and not just a proprietary database with BLOCKCHAIN stenciled on the top (which almost was what it was in every mention outside of cryptocurrency use.) I agree, BITCOIN is a large and slow database, but blockchains don't have to be slow, to my understanding that's a function of the blockchain trilemma: Scalability vs. Cost vs. Decentralization. You can have a super fast blockchain, but you may not be able to trust it vs. bad actors. Blockchains are databases at their core , but different in that they, when implemented under the correct (and arguably unique in the case of Bitcoin) circumstances, do indeed appear to solve the Byzantine generals problem (although at the country level China may eek out a dominance in mining?, I'm not sure). The oldest blockchains are around only 10 years old and 99.99% of them are scams, but again I think there's an innovation here, just needs to be built upon and matured. I don't see why it can't continue to develop though, as it's open source and has shown strong progress. I don't get the hate and anger about it. I feel we've come to the point you reference about use cases, as an example, people regularly move hundreds of millions (one time a billion https://arstechnica.com/tech-policy/2019/09/someone-moved-1-billion-in-a-single-bitcoin-transaction/) of BTC across the BTC network for substantially less transaction costs than using Moneygram, as an example. RIP Bitcoin whut a bubble, its died 379 times https://99bitcoins.com/bitcoin-obituaries/Cowcaster posted:i can use the us dollar to buy things If you must transact in US Dollars, go for it! Good news, You can use BTC to buy dollars, and you get more dollars for your BTC when you choose to do so! :-)
|
|
#
?
Jan 30, 2020 14:49
|
|
|
Cowcaster posted:i can use the us dollar to buy things As long as "things" refer to weapons and drugs, bitcoin also allows you to buy things.
|
|
#
?
Jan 30, 2020 14:50
|
|
|
dhrusis posted:That's good because its only grown in adoption over the last 10 years...Why wouldn't it continue to be around? Ok coiner
|
|
#
?
Jan 30, 2020 15:00
|
|
|
EorayMel posted:Ok coiner meh, not much of a coiner, more just fascinated coder :-)
|
|
#
?
Jan 30, 2020 15:04
|
|
|
dhrusis posted:I agree, BITCOIN is a large and slow database, but blockchains don't have to be slow, to my understanding that's a function of the blockchain trilemma: Scalability vs. Cost vs. Decentralization. You can have a super fast blockchain, but you may not be able to trust it vs. bad actors. quote:Blockchains are databases at their core , but different in that they, when implemented under the correct (and arguably unique in the case of Bitcoin) circumstances, do indeed appear to solve the Byzantine generals problem (although at the country level China may eek out a dominance in mining?, I'm not sure). The oldest blockchains are around only 10 years old and 99.99% of them are scams, but again I think there's an innovation here, just needs to be built upon and matured. I don't see why it can't continue to develop though, as it's open source and has shown strong progress. I don't get the hate and anger about it. quote:I feel we've come to the point you reference about use cases, as an example, people regularly move hundreds of millions (one time a billion https://arstechnica.com/tech-policy/2019/09/someone-moved-1-billion-in-a-single-bitcoin-transaction/) of BTC across the BTC network for substantially less transaction costs than using Moneygram, as an example.
|
|
#
?
Jan 30, 2020 15:05
|
|
|
dhrusis posted:If you must transact in US Dollars, go for it! Good news, You can use BTC to buy dollars, and you get more dollars for your BTC when you choose to do so! :-) prove it
|
|
#
?
Jan 30, 2020 15:07
|
|
|
kw0134 posted:Yes, which is the same trilemma for literally all computer systems. There isn't a single thing in the world where you can't also apply that analysis to, which is why everyone has decided that decentralization is in the end a pointless distraction. Oh boy lol. There was no collective agreement against decentralization, the Internet just got owned and people were too lazy and uneducated to realize the stakes and fight back. xtal fucked around with this message at 15:20 on Jan 30, 2020 |
|
#
?
Jan 30, 2020 15:17
|
|
|
kw0134 posted:Yes, which is the same trilemma for literally all computer systems. There isn't a single thing in the world where you can't also apply that analysis to, which is why everyone has decided that decentralization is in the end a pointless distraction. I disagree, I think decentralization, for the niche bitcoin fits in, is the key differentiator. How valueable is it will remain to be seen. It certainly isn't speed! haha. Need to look more into ethereum's centralization, although it seems pretty centered around Vitalik. kw0134 posted:
I'm not pitching bitcoin as a substitute for moneygram, and certainly not right now -- but there's potential there, and again, active development in the space. Why wouldn't a technology (blockchain based or otherwise) not come in to fill gaps? Why can't a bitcoin ATM do what you are talking about... they probably already do? Cowcaster posted:prove it What are you arguing?
|
|
#
?
Jan 30, 2020 15:24
|
|
|
xtal posted:Oh boy lol. There was no collective agreement against decentralization, the Internet just got owned and people were too lazy and uneducated to realize the stakes and fight back. dhrusis posted:I disagree, I think decentralization, for the niche bitcoin fits in, is the key differentiator. How valueable is it will remain to be seen. It certainly isn't speed! haha. Need to look more into ethereum's centralization, although it seems pretty centered around Vitalik. quote:I'm not pitching bitcoin as a substitute for moneygram, and certainly not right now -- but there's potential there, and again, active development in the space. Why wouldn't a technology (blockchain based or otherwise) not come in to fill gaps? Why can't a bitcoin ATM do what you are talking about... they probably already do
|
|
#
?
Jan 30, 2020 15:37
|
|
|
dhrusis posted:meh, not much of a coiner, more just fascinated coder :-) What are you fascinated by? Genuine question. The most useful part of "blockchain technology" has been in use in programming for decades already, there's nothing new here other than some libitarians went "imagine if we made a currency and could stick it to the fed!" which is where the incredible stupidity started and strangely, where you appear to have gotten hooked in.
|
|
#
?
Jan 30, 2020 15:50
|
|
|
dhrusis posted:meh, not much of a coiner, more just fascinated coder :-) Sure you are. As someone whose actually professionally deployed production code that affects literally millions of people, I can state with absolute certainty that blockchain barely qualifies as a database; it's a flat file containing sequential encrypted entries; it's not even a linked list or a proper relational database. Flat file databases are literally the laziest way to store data because for them to be even the least bit useful you need to write a lot of glue code, which is a pain in the rear end. As with bitcoin and ,unfortunately, like the majority of your poorly informed statements, it's a solution looking for a problem. Exchanges aren't regulated blockchain is a poor man's database Please stop pretending to know what you are talking about, because it's not helping your case. tango alpha delta fucked around with this message at 15:56 on Jan 30, 2020 |
|
#
?
Jan 30, 2020 15:53
|
|
|
This person thought coinbase was FDIC insured lmaooooooooo
|
|
#
?
Jan 30, 2020 16:01
|
|
|
|
| # ? May 30, 2024 23:58 |
|
|
tango alpha delta posted:Sure you are. As someone whose actually professionally deployed production code that affects literally millions of people, I can state with absolute certainty that blockchain barely qualifies as a database; it's a flat file containing sequential encrypted entries; it's not even a linked list or a proper relational database. There are probably a lot of nerds in this thread with better credentials, so I don't like taking it in that direction. I wouldn't use it as one, but Redis is called a database on Wikipedia, albeit a poor one indeed, and works similarly (no relations; supports append-only-logging; clustering). If it used a secure consensus algorithm, it would be very close to a blockchain. So, it seems like a blockchain could be considered a database as well. xtal fucked around with this message at 16:07 on Jan 30, 2020 |
|
#
?
Jan 30, 2020 16:02
|
|