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Chris Knight posted:I guess that's one way to make sure he doesn't spend it all before retirement twitter thinks this is the reply i need to see most https://twitter.com/GlendaClarke2/status/1343948151506534405 ugh, blank people 
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Dec 29, 2020 18:28
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I don't think you'd start to have problems until a few magnitudes more than that. In fact it probably happens every day. Exchanges have much more than that in liquidity, so it's just moving numbers around in their database instead of involving the actual bitcoin network. You'll definitely get a lot of questions about taxing and money laundering from the bank's side, but enough people have done it successfully. I'd be curious if you need to do stuff like Adjusted Cost Base calculations for it, that would be the hardest part.
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Dec 29, 2020 18:30
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also i'm sure everyone already knew this inherently, but what they mean by "paid in bitcoin" is "not actually paid in bitcoin"quote:How Strike works
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Dec 29, 2020 18:31
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quote:Mallers said Strike is now processing into the “seven figures” of monthly volume and expects that number to grow as more big names join Strike’s newest payment method. Strike does not currently receive any cut for processing payments, Mallers said, but it might as the product gains adoption. losing money on each transaction but making it up on volume, excellent
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Dec 29, 2020 18:37
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This is the second worst sports strike this year
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Dec 29, 2020 18:38
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Why couldn't he do this himself? Get money and buy however many bits you want.
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Dec 29, 2020 19:41
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Paladinus posted:Why couldn't he do this himself? Get money and buy however many bits you want. because the entire point of bitcoin companies is to shove themselves in-between every step of a transaction and try and profit off it
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Dec 29, 2020 19:45
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Paladinus posted:Why couldn't he do this himself? Get money and buy however many bits you want. I've heard bit-coin can have some slight usability challenges so in a way, he is, but just outsourcing the labor of interfacing with the lightning network to a third party
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Dec 29, 2020 19:48
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Boxturret posted:because the entire point of bitcoin companies is to shove themselves in-between every step of a transaction and try and profit off it I notice that a lot of criticisms of bitcoin also work if you remove the word bitcoin.
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Dec 29, 2020 19:49
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xtal posted:I notice that a lot of criticisms of bitcoin also work if you remove the word bitcoin. yes, but a number of businesses that aren’t buttcoin-related provide a product or service in addition to rent-seeking.
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Dec 29, 2020 20:12
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So the bitcoin thread has come to defending capitalism because it also applies to bitcoin. Can I get two confirmations to lmao?
xtal fucked around with this message at 20:20 on Dec 29, 2020 |
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Dec 29, 2020 20:17
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xtal posted:So the bitcoin thread has come to defending capitalism because it also applies to bitcoin. Can I get two confirmations to lmao? you misspelled too
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Dec 29, 2020 20:20
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xtal posted:So the bitcoin thread has come to defending capitalism because it also applies to bitcoin. Can I get two confirmations to lmao?
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Dec 29, 2020 20:22
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xtal posted:So the bitcoin thread has come to defending capitalism because it also applies to bitcoin. Can I get two confirmations to lmao?
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Dec 29, 2020 20:22
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Three confirmations is fine too.
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Dec 29, 2020 20:25
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cool puppet master itt
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Dec 29, 2020 20:27
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next you should try the "oh you say bitcoin is bad because people use it for illegal things? well F.I.A.T. can also be used for crimes!" one, that's always good
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Dec 29, 2020 20:30
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Good work, you're like 80 percent close to being self aware
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Dec 29, 2020 20:32
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You apologize to your thread and tell it that the bitcoin was a bad bitcoin who deserved to die. You tell your thread that the bitcoin was a murderer and that the bitcoin should've never had children. You then leave the thread to clean up the mess. After cleaning up, you go back to sleep 
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Dec 29, 2020 20:32
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my goodness bitcoin is good! i guess because other thing is bad? i have been utterly destroyed by logic it's true what they say about anarchists, they are just so handsome and smart. on average their heads are 20% larger than a normal person because their brains are just so big and strong
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Dec 29, 2020 20:35
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USD is just bitcoin for fascists. The exact same problems apply to one and the other. Criticism directed at BTC is misdirected criticism of capitalism.
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Dec 29, 2020 20:38
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I'm starting to think this is some sort of performance art because even Seraph isn't this bad at arguing on the internet.
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Dec 29, 2020 20:38
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idk why this moron can't figure out that pointing out that some non-bitcoin companies still offer goods and services is not a defense of capitalism. in "normal" capitalism, industries are incentivized to transition to rent-seeking to keep profits up, but since bitcoin is just capitalism speedrun, all bitcoin-related companies have already gone past trying to sell a product and just moved to pure middleman status
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Dec 29, 2020 20:39
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what's a youessdee
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Dec 29, 2020 20:40
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xtal posted:So the bitcoin thread has come to defending capitalism because it also applies to bitcoin. Can I get two confirmations to lmao? You're really gonna need to put about four adjectives in front of capitalism if you want us to take you seriously as an anarchist. SYSV Fanfic fucked around with this message at 20:43 on Dec 29, 2020 |
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Dec 29, 2020 20:40
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Boxturret posted:what's a youessdee usd's nutz
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Dec 29, 2020 20:41
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xtal posted:Good work, you're like 80 percent close to being self aware Is there not a CSPAM thread you should be posting drumpf in 30 times a second ? That would be more productive than this sad performance
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Dec 29, 2020 20:52
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you idiots laughing at bitcoin, if you were an anarchist like me you would have the intelligence to realise that all your criticisms also apply to youessdee! they are literally the same. but bitcoin is good and will bring about socioanarchistic utopia because it lets you buy drugs off the internet
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Dec 29, 2020 21:07
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the hardest part of being an anarchist is having to wear a special neck brace to stop my giant brain from crushing my spinal column
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Dec 29, 2020 21:10
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xtal posted:I notice that a lot of criticisms of bitcoin also work if you remove the word bitcoin. did you miss the part where the whole reason 90% of bitcoin is funny is because it's just been idiots rehashing the entire history of finance compressed into like 10 years because none of them seem to think they can learn anything from history so they make the same mistakes over and over again? xtal posted:USD is just bitcoin for fascists. The exact same problems apply to one and the other. Criticism directed at BTC is misdirected criticism of capitalism. so you're saying it has all the same fash and capitalist problems as actual money, therefore you... support it? like this gets brought up a ton and the whole angle hinges on the idea that "sure it's got the same problems as USD, but" except the "but" is always nebulous and hand-wavey and ignores all the extra problems it brings to the table.
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Dec 29, 2020 21:48
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I use EUR 
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Dec 29, 2020 22:12
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gschmidl posted:I use EUR EUR a nerd lol
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Dec 29, 2020 22:15
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my bitter bi rival posted:EUR a nerd lol
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Dec 29, 2020 22:17
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gschmidl posted:I use EUR i think EUR is bitcoin for narcoleptics, if i'm reading this chart correctly
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Dec 29, 2020 22:19
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suck my dong op
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Dec 29, 2020 22:19
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Regarding tether: The idea that tether will cause Bitcoin to collapse is one of those half-baked conspiracies that is an unholy spawn born from parents of paranoia and shitcoin propaganda. There was a lawsuit here in the US where one of the gov agencies, I forget which, sued bitfinex (who issues tether) for issuing unbacked tether loans to itself. Following that lawsuit, it was revealed tether only had a backing of 74%. Bitfenix was basically printing their own money out of nowhere and then using that to purchase Bitcoin. They were ordered to stop that and carried on with their business. Some people believe if tether were to collapse, for some reason bitcoin would too. This conspiracy revolves around th eidea there is no real demand for Bitcoin, it's all just tether and bitfinex making up money and pumping it. Some people believe that if tether were to collapse, for some reason bitcoin would too. This conspiracy stems from the fallacious idea there is no real demand for Bitcoin, it's all just tether and Bitfinex making up money and pumping it. This is obviously absurd on its face, there is a ton of bitcoin demand, and were tether to fail people (who formerly held tether) would run TO bitcoin, not away from it.
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Dec 29, 2020 22:22
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go away seraph we're dealing with an antichrist right now
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Dec 29, 2020 22:23
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Shame Boy posted:did you miss the part where the whole reason 90% of bitcoin is funny is because it's just been idiots rehashing the entire history of finance compressed into like 10 years because none of them seem to think they can learn anything from history so they make the same mistakes over and over again? Shame Boy posted:so you're saying it has all the same fash and capitalist problems as actual money, therefore you... support it? quote:Bitcoin was created to give financial sovereignty - rightfully ours - to the individual, by "stealing" it from the nation-state, that foulest of usurpers. Bitcoin is tool but also a tremendously powerful weapon. Unlike all prior attempts to accomplish this feat throughout history, Bitcoin does not rely on violence but, instead, works insidiously by turning capitalism against itself. As for this: Shame Boy posted:like this gets brought up a ton and the whole angle hinges on the idea that "sure it's got the same problems as USD, but" except the "but" is always nebulous and hand-wavey and ignores all the extra problems it brings to the table. https://www.youtube.com/watch?v=_-NwFOAS0ZA
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Dec 29, 2020 22:25
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7 tps isn't enough for a shopping mall but it'll be enough for the entire world
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Dec 29, 2020 22:32
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Suspicious posted:7 tps isn't enough for a shopping mall but it'll be enough for the entire world To say nothing of all the other innovation layers yet to come.
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Dec 29, 2020 22:32
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