Bitcoin: no angel investors, only Faustian bargains

The Something Awful Forums > Main > General Bullshit > Bitcoin: no angel investors, only Faustian bargains

xtal: Jan 9, 2011; by Fluffdaddy

Rufio posted:

I mean why shouldn't people be awarded millions of dollars for leaving their computers running for a long time back in 2011?

That's basically the business model of Amazon Web Services

# ? Feb 6, 2021 18:48

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# ? May 31, 2024 08:00

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

xtal posted:

That's basically the business model of Amazon Web Services

lol, I actually use AWS and your statement isn't remotely accurate at all.

# ? Feb 6, 2021 18:53

xtal: Jan 9, 2011; by Fluffdaddy

tango alpha delta posted:

lol, I actually use AWS and your statement isn't remotely accurate at all.

It truly is accurate, since I lived before AWS and know how and why they operate.

For people who still don't know, AWS is a way for Amazon to profit from their unused hardware by creating virtualized environments for people who will pay way too much for it since they don't know better.

Using AWS is despicable. Amazon was recently (in the last WEEK) exposed for wage theft. You are paying for that, at a premium.

xtal fucked around with this message at 19:02 on Feb 6, 2021

# ? Feb 6, 2021 19:00

Stealthgerbil: Dec 16, 2004

Man you guys need to look up the definition of a ponzi scheme. Bitcoin is stupid and a waste of power but by definition it is not a ponzi scheme.

# ? Feb 6, 2021 19:00

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

Stealthgerbil posted:

Man you guys need to look up the definition of a ponzi scheme. Bitcoin is stupid and a waste of power but by definition it is not a ponzi scheme.

You are confused. The technology of bitcoin and the means by which money is moved between exchanges are two very different things. The model that has inflated bitcoins monetary value is most certainly a Ponzi scheme.

# ? Feb 6, 2021 19:08

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

xtal posted:

It truly is accurate, since I lived before AWS and know how and why they operate.

For people who still don't know, AWS is a way for Amazon to profit from their unused hardware by creating virtualized environments for people who will pay way too much for it since they don't know better.

Using AWS is despicable. Amazon was recently (in the last WEEK) exposed for wage theft. You are paying for that, at a premium.

i actually use AWS. it's obvious that you do not. stop talking nonsense.

e: my last bill was about one dollar for a MONTH of S3 hosting, which means if you understand the technology you can get a pretty good deal.

e: correction, I pay .74 cents a month for S3 hosting on AWS.

oh, and Bitcoin is a Ponzi scheme.

tango alpha delta fucked around with this message at 19:24 on Feb 6, 2021

# ? Feb 6, 2021 19:10

Stealthgerbil: Dec 16, 2004

Yea you are right about that, the price manipulation is artificial. We were just thinking of different things and I misunderstood you.

I don't give a gently caress about cryptocurrency but I think the blockchain technology itself is really neat. The problem is that no one has figured out a good use other then making lovely versions of things that already exist. We have ACH transfers and replicated databases have existed forever so maybe people need to stop trying to make another shitcoin and make something useful for once.

# ? Feb 6, 2021 19:11

FilthyImp: Sep 30, 2002; Anime Deviant

Stealthgerbil posted:

I don't give a gently caress about cryptocurrency but I think the blockchain technology itself is really neat.

I was at an educational event once where some SpaceX veep was talking BLOCKCHAIN!

'Don't tell kids to code, we'll have AI-driven coding soon. USE THE BLOCKCHAIN'

Like bro, wtf.

# ? Feb 6, 2021 19:15

EorayMel: May 30, 2015; WE GET IT. YOU LOVE GUN JESUS. Toujours des fusils Bullpup Fran�ais.

Guys, check out this hot take:

Bitcoin is a pyramid scheme.

# ? Feb 6, 2021 19:17

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

Stealthgerbil posted:

Yea you are right about that, the price manipulation is artificial. We were just thinking of different things and I misunderstood you.

I don't give a gently caress about cryptocurrency but I think the blockchain technology itself is really neat. The problem is that no one has figured out a good use other then making lovely versions of things that already exist. We have ACH transfers and replicated databases have existed forever so maybe people need to stop trying to make another shitcoin and make something useful for once.

blockchain technology is some first year computer science amateur poo poo, man. it's an encrypted linked list, if you want to get technical. all the code that makes it work was cobbled together from other better programmers.

# ? Feb 6, 2021 19:20

Fried Watermelon: Dec 29, 2008

tango alpha delta posted:

i actually use AWS. it's obvious that you do not. stop talking nonsense.

e: my last bill was about one dollar for a MONTH of S3 hosting, which means if you understand the technology you can get a pretty good deal.

e: correction, I pay .74 cents a month for S3 hosting on AWS.

so he's wrong in saying that AWS is expensive if you don't understand it and your follow up is that you can get a good deal if you understand the technology?

try again lol

# ? Feb 6, 2021 19:23

Paladinus: Jan 11, 2014; heyHEYYYY!!!

EorayMel posted:

Guys, check out this hot take:

Bitcoin is a pyramid scheme.

It's more of a triangle if anything.

# ? Feb 6, 2021 19:26

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

Fried Watermelon posted:

so he's wrong in saying that AWS is expensive if you don't understand it and your follow up is that you can get a good deal if you understand the technology?

try again lol

i'm not sure your point is as devastating as you think. Understanding technology well absolutely does give you an edge because you aren't paying for poo poo you don't need, which of course brings us back to bitcoin.

Don't spend money on stuff you don't understand or find someone you trust and have them handle the details.

Thanks for making my point.

bitcoin is a Ponzi scheme.

# ? Feb 6, 2021 19:28

Stealthgerbil: Dec 16, 2004

tango alpha delta posted:

blockchain technology is some first year computer science amateur poo poo, man. it's an encrypted linked list, if you want to get technical. all the code that makes it work was cobbled together from other better programmers.

So the guy stole all the node code that makes the decentralized part work? That's hilarious.

Guess it makes sense, we have had torrents for forever.

I have followed a basic how to make a blockchain tutorial in python and that part was easy. It was the networking stuff that was tougher to figure out.

Stealthgerbil fucked around with this message at 19:44 on Feb 6, 2021

# ? Feb 6, 2021 19:38

xtal: Jan 9, 2011; by Fluffdaddy

tango alpha delta posted:

i actually use AWS. it's obvious that you do not. stop talking nonsense.

e: my last bill was about one dollar for a MONTH of S3 hosting, which means if you understand the technology you can get a pretty good deal.

e: correction, I pay .74 cents a month for S3 hosting on AWS.

oh, and Bitcoin is a Ponzi scheme.

Indeed it's obvious I don't use AWS, since I've read a book. If you were profiting from AWS, they wouldn't be one of the most valuable companies in the world.

Now that I think of it, they're literally landlords for servers.

# ? Feb 6, 2021 19:42

Fried Watermelon: Dec 29, 2008

tango alpha delta posted:

i'm not sure your point is as devastating as you think. Understanding technology well absolutely does give you an edge because you aren't paying for poo poo you don't need, which of course brings us back to bitcoin.

Don't spend money on stuff you don't understand or find someone you trust and have them handle the details.

Thanks for making my point.

bitcoin is a Ponzi scheme.

can you break it down for me

im a little slow

# ? Feb 6, 2021 19:47

Michael Transactions: Nov 11, 2013

EorayMel posted:

Guys, check out this hot take:

Bitcoin is a pyramid scheme.

So is capitalism

# ? Feb 6, 2021 20:03

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

Fried Watermelon posted:

can you break it down for me

im a little slow

lol, it's very difficult to offend me, so go ahead and be sarcastic if it makes you feel better.

bitcoin is a Ponzi scheme.

# ? Feb 6, 2021 20:23

feelix: Nov 27, 2016; THE ONLY EXERCISE I AM UNFAMILIAR WITH IS EXERCISING MY ABILITY TO MAKE A POST PEOPLE WANT TO READ

xtal posted:

Indeed it's obvious I don't use AWS, since I've read a book. If you were profiting from AWS, they wouldn't be one of the most valuable companies in the world.

Now that I think of it, they're literally landlords for servers.

You should read a book about economies of scale

# ? Feb 6, 2021 20:24

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

Stealthgerbil posted:

So the guy stole all the node code that makes the decentralized part work? That's hilarious.

Guess it makes sense, we have had torrents for forever.

I have followed a basic how to make a blockchain tutorial in python and that part was easy. It was the networking stuff that was tougher to figure out.

'stole' is a strong word for 'borrow'. Most professional developers don't roll their own code. They borrow A LOT of open source third party code and then just write some glue code. It's one of the dirty secrets of modern software development.

e: when i learned this, i lost a lot of respect for professional developers.

tango alpha delta fucked around with this message at 20:36 on Feb 6, 2021

# ? Feb 6, 2021 20:32

Dont Touch ME: Apr 1, 2018

tango alpha delta posted:

You are confused. The technology of bitcoin and the means by which money is moved between exchanges are two very different things. The model that has inflated bitcoins monetary value is most certainly a Ponzi scheme.

The value of bitcoin is inflated because it's useful to the black market.

40k useful? No, but...

# ? Feb 6, 2021 20:40

Dont Touch ME: Apr 1, 2018

tango alpha delta posted:

'stole' is a strong word for 'borrow'. Most professional developers don't roll their own code. They borrow A LOT of open source third party code and then just write some glue code. It's one of the dirty secrets of modern software development.

e: when i learned this, i lost a lot of respect for professional developers.

It depends on the industry. Webdev is notorious for this.

IBM isn't forking some cunning zoomer's node.js Greater-Than module for POWER9 drivers.

# ? Feb 6, 2021 20:44

feelix: Nov 27, 2016; THE ONLY EXERCISE I AM UNFAMILIAR WITH IS EXERCISING MY ABILITY TO MAKE A POST PEOPLE WANT TO READ

tango alpha delta posted:

'stole' is a strong word for 'borrow'. Most professional developers don't roll their own code. They borrow A LOT of open source third party code and then just write some glue code. It's one of the dirty secrets of modern software development.

e: when i learned this, i lost a lot of respect for professional developers.

I'm sure they're devastated

# ? Feb 6, 2021 20:56

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

feelix posted:

I'm sure they're devastated

Considering I was the admin for the entire build and deployment pipeline for about a thousand developers for eight years, yeah it created a little bit of friction. Most of the time I felt like a babysitter.

e:oh, you were being sarcastic. I'm difficult to rile up for the simple reason that I've already proven myself. I'm done. Retired.

bitcoin is a Ponzi scheme.

# ? Feb 6, 2021 20:58

xtal: Jan 9, 2011; by Fluffdaddy

feelix posted:

You should read a book about economies of scale

You should read a book about economies.

# ? Feb 6, 2021 21:30

CaptainSarcastic: Jul 6, 2013

Hirez posted:

Look up how many Donald Trump's are in the US. And it's not just TRumpgf and TRumpt JR
http://howmanyofme.com/search/

reminds me that Michael Douglas has played batman

or like 80% of the people with the lastname Dutroux or whatever in one of those Europeon Bog Lands (where they let known multiple child rapists go, after like 2 weeks and they build a dungeon that would make an austrian proud ) filed to change their lastname after his horrible mycrimes.txt came out (his confessions and being a prime watched suspect for a year...) dont read about him or you'll want to go out on a pedophile killing spree and no one would fault you --- but thats more for the the Epstein/Ghislaine thread in c-spam; where (i'm catching up a 100 pages behind) - C-Spam believes that Epstein/Maxwell are Satoshi after a mysterious $1 billion dollar transfer of bitcoin happened just after her arrest... and she literally controlled the Reddit Mind Hive and Narrative and posted about pedofelia being good or some similiar dispicable poo poo which is just a normal bitcoiners thing

Is your theory that Michael Keaton is not real and is secretly played by Michael Douglas?

# ? Feb 6, 2021 21:38

Shumagorath: Jun 6, 2001

CaptainSarcastic posted:

Is your theory that Michael Keaton is not real and is secretly played by Michael Douglas?

quote:

Born Michael John Douglas
September 5, 1951 (age 69)
Kennedy Township, Pennsylvania, U.S.

quote:

Keaton left Pittsburgh and moved to Los Angeles to begin auditioning for various TV parts. He popped up in various popular TV shows including Maude and The Mary Tyler Moore Hour. He decided to use a stage name to satisfy SAG rules, as there was already an actor (Michael Douglas) and daytime host (Mike Douglas) with the same or similar names. In response to questions as to whether he selected his new surname due to an attraction to actress Diane Keaton, or in homage to silent film actor Buster Keaton, he has responded by saying "it had nothing to do with that."[22][23] Keaton has said in several interviews that he searched a phone book under "K," saw "Keaton" and decided to stop looking.[24]

# ? Feb 6, 2021 21:42

CaptainSarcastic: Jul 6, 2013

Oh.

# ? Feb 6, 2021 21:44

Paladinus: Jan 11, 2014; heyHEYYYY!!!

Hirez posted:

Look up how many Donald Trump's are in the US. And it's not just TRumpgf and TRumpt JR
http://howmanyofme.com/search/

reminds me that Michael Douglas has played batman

or like 80% of the people with the lastname Dutroux or whatever in one of those Europeon Bog Lands (where they let known multiple child rapists go, after like 2 weeks and they build a dungeon that would make an austrian proud ) filed to change their lastname after his horrible mycrimes.txt came out (his confessions and being a prime watched suspect for a year...) dont read about him or you'll want to go out on a pedophile killing spree and no one would fault you --- but thats more for the the Epstein/Ghislaine thread in c-spam; where (i'm catching up a 100 pages behind) - C-Spam believes that Epstein/Maxwell are Satoshi after a mysterious $1 billion dollar transfer of bitcoin happened just after her arrest... and she literally controlled the Reddit Mind Hive and Narrative and posted about pedofelia being good or some similiar dispicable poo poo which is just a normal bitcoiners thing

# ? Feb 6, 2021 21:59

feelix: Nov 27, 2016; THE ONLY EXERCISE I AM UNFAMILIAR WITH IS EXERCISING MY ABILITY TO MAKE A POST PEOPLE WANT TO READ

tango alpha delta posted:

Considering I was the admin for the entire build and deployment pipeline for about a thousand developers for eight years, yeah it created a little bit of friction. Most of the time I felt like a babysitter.

e:oh, you were being sarcastic. I'm difficult to rile up for the simple reason that I've already proven myself. I'm done. Retired.

bitcoin is a Ponzi scheme.

dude that's so cool

# ? Feb 6, 2021 22:00

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

michael keaton and michael douglas have never been photographed together.

makes you think.

# ? Feb 6, 2021 22:05

von Vicious: Apr 2, 2015; I'M A GINGER BABY WwwWWaaAaAhhH!!!

# ? Feb 6, 2021 22:06

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

feelix posted:

dude that's so cool

seraph, this man needs a platinum upgrade, stat!

e:feelix, your rap sheet is that of a very sad/angry young man, which means I can't possibly be offended by you.

bitcoin is a Ponzi scheme.

tango alpha delta fucked around with this message at 22:49 on Feb 6, 2021

# ? Feb 6, 2021 22:19

gary oldmans diary: Sep 26, 2005

shitcoin

# ? Feb 6, 2021 22:46

xtal: Jan 9, 2011; by Fluffdaddy

All Coins Are Bastards

# ? Feb 6, 2021 22:49

CaptainSarcastic: Jul 6, 2013

Buttcoin

# ? Feb 6, 2021 22:51

gary oldmans diary: Sep 26, 2005

shitcoin

# ? Feb 6, 2021 22:54

tango alpha delta: Sep 9, 2011; Ask me about my wealthy lifestyle and passive income! I love bragging about my wealth to my lessers! My opinions are more valid because I have more money than you! Stealing the fruits of the labor of the working class is okay, so long as you don't do it using crypto. More money = better than!

pisscoin

# ? Feb 6, 2021 22:56

gary oldmans diary: Sep 26, 2005

# ? Feb 6, 2021 22:56

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# ? May 31, 2024 08:00

gary oldmans diary: Sep 26, 2005

shitcoin

# ? Feb 6, 2021 22:57

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