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ghosTTy posted:The power isn't wasted. If I build a grill so inefficient it takes a literal tonne of coal to cook a steak, that power is "wasted" even if my lovely grill couldn't have cooked it otherwise. Splicer fucked around with this message at 18:43 on Sep 9, 2020 |
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Sep 9, 2020 18:40
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I'm vaguely remembering the old internet RPG ForumWarz, which seemed very goon inspired, and that its currency was a mostly useless internet fun money where among the only tangible things you could actually buy with it was various drugs, which acted as healing and buff items for the Troll class.
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Sep 9, 2020 18:43
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Splicer posted:Just because you keep repeating something doesn't make it true. I kinda wanna see this grill, call it the bitcoin grill even.
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Sep 9, 2020 19:10
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orange juche posted:I kinda wanna see this grill, call it the bitcoin grill even. I call it poof! no steak.
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Sep 9, 2020 19:37
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orange juche posted:What is DeFi anyways, the latest way to bilk morons?
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Sep 9, 2020 19:59
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orange juche posted:What is DeFi anyways, the latest way to bilk morons? They couldn't talk about DAO ever since THE DAO imploded before it even went live, so they started calling it Decentralized Finance (DeFi) to hide
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Sep 9, 2020 20:32
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Ghost Leviathan posted:I'm vaguely remembering the old internet RPG ForumWarz, which seemed very goon inspired, and that its currency was a mostly useless internet fun money where among the only tangible things you could actually buy with it was various drugs, which acted as healing and buff items for the Troll class.
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Sep 9, 2020 21:28
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orange juche posted:What is DeFi anyways, the latest way to bilk morons? Hi fellow eve online player! DeFi is eve contract scamming, except instead of being in eve it is in etherium "smart" contract system. That's not a metaphor, that is exactly what it is. Just like in eve, nobody intelligent would ever loan buttcoins to an anonymous wallet number without collateral. So these smart contracts have collateral in them, in the form of some other cyrpto. And some functions to fufill or end the contract, an expiration date, and rules like "if guy A doesn't return 250 bitboins by 10/13/2020, send the collateral to guy B's wallet address". You can see where this is going right? A DeFi proponent will tell you that this is useful as a way to trade cryptos without an exchange, or to place a bet that monero will go up relative to bitcoin, or to earn interest from a stablecoin or some poo poo. It can do that, but the whole "decentralized finance" has extremely limited usefulness when anyone getting a $1k loak needs to put up $1k collateral. Just like in eve. And just like in eve, there are a ton of contracts that are scams. ghost titty posts charts of the value "locked in" to DeFi. Well, that value is determined by what the supposed face value of the payload is. So if the face value is an easily manipulated shitcoin or even a new coin someone invented literally yesterday, that still counts. Imagine I post a chart of the "total value" of every contract in eve where someone is selling a piece of carbon for 1 billion, or however much charons are going for now. Same deal.
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Sep 9, 2020 22:24
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Klyith posted:Hi fellow eve online player! DeFi is eve contract scamming, except instead of being in eve it is in etherium "smart" contract system. That's not a metaphor, that is exactly what it is. So scammer publishes a whitepaper for some bullshit token (example: bananacoin, or sushiswap) to give to his marks as collateral in exchange for a "more stable/tradeable" currency, and then walks off after converting the BTC or ETH to USD and then the DeFi marks are left with useless pogs?
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Sep 9, 2020 22:57
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orange juche posted:So scammer publishes a whitepaper for some bullshit token (example: bananacoin, or sushiswap) to give to his marks as collateral in exchange for a "more stable/tradeable" currency, and then walks off after converting the BTC or ETH to USD and then the DeFi marks are left with useless pogs? Minus the step where they convert it to USD or any other usable currency. They will HODL forever or get tether.
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Sep 9, 2020 23:14
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Klyith posted:Hi fellow eve online player! DeFi is eve contract scamming, except instead of being in eve it is in etherium "smart" contract system. That's not a metaphor, that is exactly what it is. It can't possibly be that stupid; you must be explaining it wrong. (Narrator: They weren't.)
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Sep 9, 2020 23:21
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DAO more like D'OH
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Sep 9, 2020 23:28
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orange juche posted:So scammer publishes a whitepaper for some bullshit token (example: bananacoin, or sushiswap) to give to his marks as collateral in exchange for a "more stable/tradeable" currency, and then walks off after converting the BTC or ETH to USD and then the DeFi marks are left with useless pogs?
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Sep 9, 2020 23:35
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theres like $10 billion in tether IOUs printed now
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Sep 9, 2020 23:41
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gary oldmans diary posted:theres like $10 billion in tether IOUs printed now haha tether printer go brrrr
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Sep 9, 2020 23:42
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gary oldmans diary posted:theres like $10 billion in tether IOUs printed now Are they still claiming that it is backed 1:1 with USD?
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Sep 9, 2020 23:49
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biglads posted:Are they still claiming that it is backed 1:1 with USD?
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Sep 10, 2020 00:15
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biglads posted:Are they still claiming that it is backed 1:1 with USD? I think coiners find this to be no problem because number go up. However I also think coiners aren’t nearly as intelligent as they believe and butts are one of the worst things that humanity has done to itself since Vietnam.
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Sep 10, 2020 15:46
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https://twitter.com/campuscodi/status/1303911829077405698
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Sep 10, 2020 15:48
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Hot wallets compromised is actually the name of a findom porno script I've been working on.
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Sep 10, 2020 15:59
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Sep 10, 2020 16:27
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Crypto is untraceable I say, as the treasury department calls out a bunch of addresses as belonging to individuals under sanctions https://twitter.com/Mike_Eckel/status/1304076677400723456
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Sep 10, 2020 16:36
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Shumagorath posted:JSP forum gold is a better investment than bitcoin and easier to turn back into cash.
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Sep 10, 2020 16:52
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CannonFodder posted:I deal in Stones of Jordan. You know it's a safe investment, it's just like a Rai stone but also gives faster cast rate. Dude, SOJs are old tech. Everyone knows that the best store of value is shares in this cloud based distributed pindleskin bot some guy is running. Guaranteed to double your money every month!
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Sep 11, 2020 11:16
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So I just got gifted 0.68 ETH. What shall I do with it? Hold it forever and hope it goes to the moon?
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Sep 11, 2020 11:20
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buy 420.01 more ETH, obviously
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Sep 11, 2020 11:59
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NGC773 posted:So I just got gifted 0.68 ETH. What shall I do with it? Hold it forever and hope it goes to the moon? Make absolutely sure that your bank does not kick you out if you somehow turn it into real money. They most likely will close all your accounts if they see a transaction from an exchange.
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Sep 11, 2020 12:30
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NGC773 posted:So I just got gifted 0.68 ETH. What shall I do with it? Hold it forever and hope it goes to the moon? i am elon musk. as a way of showing appreciation for all my fans out there for a limited time if you send me your ETH i will send a tesla to your crypto. thank you and god bless
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Sep 11, 2020 12:56
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Dunno-Lars posted:Make absolutely sure that your bank does not kick you out if you somehow turn it into real money. They most likely will close all your accounts if they see a transaction from an exchange. Yeah actually this, almost any bank will kick you the gently caress off the instant they see a cash out from cryptocurrency, because it's so often used for fraud or other crimes.
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Sep 11, 2020 13:15
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NGC773 posted:So I just got gifted 0.68 ETH. What shall I do with it? Hold it forever and hope it goes to the moon? embrace the darkness, buy some AAA game on g2a directly with eth (I think they support it) (but don't buy indie games there, support those directly)
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Sep 11, 2020 14:14
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What do you suppose is the percentage of cryptocurrency value available for withdrawal in actual cash money? Is it 5%, 10%, 50%? I think it must be 100%, because I know for a fact that there are no problems with banks or exchanges or turning your cryptocurrencies into dollars. I know this because multiple people have come into this thread to condescendingly tell us how problems getting your money out of cryptocurrency is so 2012.
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Sep 11, 2020 22:27
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getting money out of bit coin is easy just use it to buy a bunch of weed and smoke it and write the next great american novel
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Sep 11, 2020 22:36
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Was watching a movie, "One Night in Bangkok" and it was good. Then 15 minutes or so before the end, the main characters asks another person "Do you know what bitcoin is? Bit. Coin. Look it up, it should be easy to figure out." Then gives them a harddrive with specific dollar amount of money in bitcoin. Like 1,365,631 dollars. That ruined the movie for me. At least 4 hours had gone by in the movie, that amount could be anywhere between 1 dollar or 50 dollars! I would have accepted if the dude said he bought bitcoins for that amount, and there were now 135234534 bitcoin on that harddrive. Ffs. Why do bitcoin have to ruin everything?! "I converted my life savings to bitcoin, I didn't know what to do! I thought I could donate it to charity or something!"
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Sep 11, 2020 23:03
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Veni Vidi Ameche! posted:What do you suppose is the percentage of cryptocurrency value available for withdrawal in actual cash money? Is it 5%, 10%, 50%? I mean again, like this is not to say that I would leave money in an exchange or that no one ever has problems, but pretty much the entire online poker industry that I'm a part of runs on withdrawals from bitcoin at this point for countries like the US where it's not fully legal, and I don't know of a single player that has had problems withdrawing through something like coinbase, for at the very least hundreds of thousands total of withdrawals that people that I know personally have done without a problem, if not millions over the years If you are withdrawing anything under I dunno $20k I would feel very comfortable assuming I would have no problems withdrawing I say this as someone that thinks bitcoins are generally very dumb, using "but can you withdraw it" as a dunk just isn't really that effective imo! Stefan Prodan fucked around with this message at 23:21 on Sep 11, 2020 |
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Sep 11, 2020 23:11
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But can you withdraw it AND have a bank account?
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Sep 11, 2020 23:21
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Dunno-Lars posted:But can you withdraw it AND have a bank account? I'm not sure what you mean, I'm answering this in completely good faith so if this is just a joke then whatever but yeah I mean I typically withdraw from coinbase to my bank account through ACH.
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Sep 11, 2020 23:21
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Stefan Prodan posted:I'm not sure what you mean, I'm answering this in completely good faith so if this is just a joke then whatever but yeah I mean I typically withdraw from coinbase to my bank account through ACH. Yeah I think as long as you are keeping it under a certain amount you’ll probably be fine but that’s not to say it couldn’t trigger a fraud/ money laundering warning one day and they shut your account down. My dad has a predominately cash based businesses and citi bank shut his account down because he paid his citi bank credit card with cash too often. He had receipts for where the cash came from but they told him to pound sand and he was banned from having a citi bank anything lol The banks don’t gently caress around if they get a hint of money laundering/ fraud so while it’s fine today it might not be tomorrow and no one knows what that threshold is.
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Sep 11, 2020 23:29
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MarcusSA posted:Yeah I think as long as you are keeping it under a certain amount you’ll probably be fine but that’s not to say it couldn’t trigger a fraud/ money laundering warning one day and they shut your account down. I mean I typically withdraw in amounts over $10k just so they can never accuse me of structuring or whatever, I'm only withdrawing money that I'm declaring on my income taxes so I would rather them know about it and never be able to say I'm trying to hide it I think But yeah I mean I suppose that could happen I just don't know anyone it's happened to and we've been using bitcoin like this for several years
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Sep 11, 2020 23:31
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Stefan Prodan posted:I'm not sure what you mean, I'm answering this in completely good faith so if this is just a joke then whatever but yeah I mean I typically withdraw from coinbase to my bank account through ACH. It was not a joke and a legit question. Cashing out hundreds of thousands should raise some red flags. Guess they can document where it's from. Or the hammer might drop sometime.
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Sep 11, 2020 23:32
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Dunno-Lars posted:It was not a joke and a legit question. Cashing out hundreds of thousands should raise some red flags. Guess they can document where it's from. Or the hammer might drop sometime. I'm not saying me personally although I've done over $100k I'm just saying all the wds of people I personally know put together
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Sep 11, 2020 23:33
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