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Nov 24, 2021 02:54
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CaptainSarcastic posted:I don't care where it goes as long as it leaves the planet. some posts are too beautiful for words
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Nov 24, 2021 02:56
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r/Coinbase a real shitshow right now, thanks to the whole India thing. 
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Nov 24, 2021 03:18
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https://twitter.com/dmorey/status/1463224468210429965
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Nov 24, 2021 03:37
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Non-Food Turkey
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Nov 24, 2021 03:43
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So this is the beginning of the end: how many will perish when Bitcoin destroys it's first country?
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Nov 24, 2021 05:56
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all things considered i'd rather live in duvalierville
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Nov 24, 2021 06:22
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nnnotime posted:So this is the beginning of the end: how many will perish when Bitcoin destroys it's first country? Central american dictatorships issuing worthless debt isn't new, but mr hatlife is doing it with pizazz
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Nov 24, 2021 07:00
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nnnotime posted:So this is the beginning of the end: how many will perish when Bitcoin destroys it's first country? This looks like the 3rd world country is taking advantage of white people for once. That just means the US is going to invade El Salvador on behalf of Bitcoin nerds.
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Nov 24, 2021 15:06
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Good article here about the failed Constitution"DAO" and more detail on the losses for their backers. https://www.vice.com/en/article/qjb8av/constitutiondao-aftermath-everyone-very-mad-confused-losing-lots-of-money-fighting-crying-etc quote:We bought $200 worth of Ethereum. Coinbase took a $3 fee. Then, we had to send the Ethereum from Coinbase to a MetaMask crypto wallet. To do this, we had to pay a $12 network fee. Then, we had to send the Ethereum from MetaMask to Juicebox. So-called "gas" fees vary wildly and depend on how busy the Ethereum network is at any given moment and the complexity of the transaction. Right now, gas fees on Ethereum are very high, and a highly complex operation could end up costing hundreds of dollars in fees. In our case, we paid a $75 gas fee to contribute roughly $75 to the project. Of the initial $200 we bought in ETH, $90 was eaten up in fees simply to donate to ConstitutionDAO. quote:In order to get a refund, we have to do this in reverse, basically. And so to get our ETH back from Juicebox, we would have to pay gas fees again, meaning essentially the entirety of the amount invested would be wiped out.
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Nov 24, 2021 15:14
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JammyB posted:Good article here about the failed Constitution"DAO" and more detail on the losses for their backers. aaaaaand it's gone. I'm sorry sir, this line is for bag hodlers only.
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Nov 24, 2021 16:01
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I remember like a decade ago, some bitcoin guy had this fantastic idea of backing bitcoins with TF2 keys. I can’t for the life of me remember what that actually entailed though. How would one back bitcoins with TF2 keys?
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Nov 24, 2021 18:44
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Gutcruncher posted:I remember like a decade ago, some bitcoin guy had this fantastic idea of backing bitcoins with TF2 keys. I can’t for the life of me remember what that actually entailed though. How would one back bitcoins with TF2 keys? The same way backing anything works, you guarantee an exchange via contract. For example a "mortgage backed" security from the 2008 mess is a bond where if the bond is defaulted on, they promise to give you ownership of mortgages which will pay the money to you instead. So to back a currency, you just sign a contract or a law that says "I'll give you one pound of silver for a British pound wherever you want" and add as many asterisks as you need to make it work.
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Nov 24, 2021 18:56
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Cryptocurrency has to be the most effective money filter in the history of money filter scams. It tracks pretty well with the revelation that less than 1% of participants benefited from the Amway scam. The other 99% all lost money or made so little it literally wasn't worth their time. If the 1% of beneficiaries of crypto are zealous enough and can hang on long enough, then they can potentially legally solidify the pyramid scheme the same way Amway did in 1979 FTC vs. Amway supreme court case. If that happens we'll have yet another exploitative capitalist meat grinder entrenched by law slowly dragging down the entire system with bloated billionaire leeches. And boy do they seem zealous enough.
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Nov 24, 2021 19:07
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the major beneficiaries of crypto already got theirs and started cashing out, it's the second wave of bag-holders fighting to institutionalize it through uh... aggressive tweeting and poo poo so they can start making money on it someday, eventually
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Nov 24, 2021 19:12
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ikanreed posted:For example a "mortgage backed" security from the 2008 mess is a bond where if the bond is defaulted on, they promise to give you ownership of mortgages which will pay the money to you instead. Securitized products can get pretty weird so it's not possible to say that nothing like this exists, but that's not how a standard residential mortgage-backed security works. It's not actually a bond; rather, you pay some money now for rights to a fraction of the payments received by a pool of mortgages. If a mortgage holder in your pool defaults or prepays, you just don't get any future payments from them. But every loan is split across many securities, so there's no way for someone to own the whole loan unless they buy all of those securities, and regulations would make that tough for all but the largest market participants (who are generally the banks trying to limit their exposure to the loans in the first place).
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Nov 24, 2021 19:12
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love that governments are getting into cryptocurrency now i mean if you wanted any other evidence that our entire economy is 100% fuckin' scams
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Nov 24, 2021 19:13
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Coinbase email from this morning. They think the constitution debacle is a good thing, lol. What’s up? It’s Coinbase Bytes There’s never a dull moment on the blockchain. Here’s what you need to know this week: Crypto philanthropy is on the rise. We’re taking a look at the intersection of crypto and the nonprofit sector. A crypto club tried to buy the Constitution. A group called ConstitutionDAO crowd-funded millions to buy a “first printing” of the document. Meet NFT artist, pplpleasr. Emily Yang has become one of the most popular and outspoken creators in crypto.
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Nov 24, 2021 19:17
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Foo Diddley posted:love that governments are getting into cryptocurrency now They’re actively getting away from cryptocurrencies with the notable exception of a country that doesn’t mint its own currency
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Nov 24, 2021 19:37
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Flowers for QAnon posted:Coinbase email from this morning. They think the constitution debacle is a good thing, lol. They made millions in fees on both purchases and refunds, the more failures like Constitution DAO, the better for Coinbase.
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Nov 25, 2021 01:58
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JammyB posted:Good article here about the failed Constitution"DAO" and more detail on the losses for their backers. This is especially hilarious because I remember in the very first Bitcoin thread in GBS (followed by the legendary first reply of “Dunning-Krugerrands”), the dweeb mentioned “no fees” as an advantage of bitcoin and crypto in general. Yet here we are, a decade or so later, and fees are literally so high that it’s impossible to move money without losing it all if you request a refund. This is some wild poo poo, I’ll tell ya.
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Nov 25, 2021 04:31
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jokes posted:If people understood finance or thought about what they were doing, they wouldn’t be buying crypto and going to crypto convention things. If they wanted to buy bonds and were serious about the investment, they wouldn’t be buying bonds that are at all involved with Crypto. Yeah, nah. Crypto people are incredibly susceptible to "[word they recognise] but with bitcoin" to the point where scammers have almost run out of words they recognise. Beyond that it's important to realise that most crypto people are incredibly serious about their investment but its deadly important to that investment that they stay in the frivolous nonsense waste money party doing memes because the moment that they brownian motion from 51% to 49% they are going to be bagholders for the other party goers. Well, more of a bagholder.
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Nov 25, 2021 06:26
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I think Michael Saylor got deleted / banned from Youtube lol
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Nov 25, 2021 07:17
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https://cdn.discordapp.com/attachments/539285683911786496/913196777233068082/tumblr_r2ppe8tl8w1qgz7mu_720.mp4
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Nov 25, 2021 13:50
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Beef posted:https://cdn.discordapp.com/attachments/539285683911786496/913196777233068082/tumblr_r2ppe8tl8w1qgz7mu_720.mp4 
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Nov 25, 2021 15:10
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Watching the Thanksgiving day parade with the wife and they were telling us about how there were NFT's of iconic floats. Wife asked me to explain what an NFT was, because she thought they were "just digital pictures right" "No"
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Nov 25, 2021 17:43
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My theory is that at least tether will actually never pop/be truly regulated out of existence because tether also funded a non-insignificant amount of Joe Biden's campaign, either all liquid actual money ended up there or its just nominally in clownpeniscoins. But the mere thought of it perpetuating forever because actually banning it would be pulling the plug on a considerable amount of his beneficiary funding instead of solely trying to stick it to China is also very funny.
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Nov 25, 2021 19:21
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People are making money on crypto. Average Joes are making money on it. Some might be making quite a lot of money (at the expense of others, of course). Pretending that they aren't isn't productive. The problem, I think, is that people are dressing it up as anything more than basically ponzi schemes, greater fool theory and rug pulls galore. If you digest any of the true believer YouTube content they would have you believe that todays token is going to be the greatest thing ever, because it solves a previously unsolveable but also indecipherable problem. How has humanity even functioned up til this point without it? The blockchain solves everything, and once it takes hold - tomorrow, always tomorrow - time will be known as pre and post blockchain, BC if you will. Also, crusty old fiat institutions are both embracing it but are also irrelevant to it. Crypto doesn't need those institutions and will make them and their old school ways obsolete, but it's important that they're interested, and it's a Good Sign. That token the true believers mentioned yesterday? Mehh it's interesting, but it's not today's token. Today's token is really going to moon. Get in on it now and get your 100X gains. Where are those 100X gains coming from? Oh it's the same people we're hyping to, but they got in a bit late. The sooner you get in the sooner you can get your returns from the next wave of NFTs, now they feel like crypto insanity squared. It's not enough that new word salad DeFi launchpad crypto problem solving coins appear every day and are simultaneously both nascent and obviously going to cure cancer, NFTs are like an insane multiverse joke. If someone had told me a year ago that people would be claiming that JPGs could be owned and had insane value in spite of absolute triviality with which they can be copied with 100% bit accuracy, I'd think they were mad. Actually I wouldn't, because this train has been going down and down towards what I can only presume to be impossible to imagine - a singularity.
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Nov 25, 2021 19:47
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Jeffrey put the forums on the blockchain to solve the problem
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Nov 25, 2021 19:59
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Durzel posted:People are making money on crypto. If you can't cash out, you haven't made money. You might think you have because number go up, but all that really matters for any portfolio is the cash you can get for it.
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Nov 25, 2021 20:02
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Beef posted:https://cdn.discordapp.com/attachments/539285683911786496/913196777233068082/tumblr_r2ppe8tl8w1qgz7mu_720.mp4 I’d show this to coiners but I doubt many of them know what DS9 was
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Nov 25, 2021 20:24
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ultrafilter posted:If you can't cash out, you haven't made money. You might think you have because number go up, but all that really matters for any portfolio is the cash you can get for it.
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Nov 25, 2021 20:56
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The only way people make money on crypto is through greater fool financing or just outright scamming people. And the crypto world is full of idiots and suckers.
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Nov 25, 2021 22:54
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Jellymouth posted:The only way people make money on crypto is through greater fool financing or just outright scamming people. I love this part, if it wasn't for this how would my clients make money off these idiots? Clients care about being up usd at the end, they don't give a poo poo about bitcoin.
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Nov 25, 2021 23:39
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Jellymouth posted:The only way people make money on crypto is through greater fool financing or just outright scamming people. Doubly so if they are Musk fanatics.
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Nov 26, 2021 00:22
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waydownLo posted:I’d show this to coiners but I doubt many of them know what DS9 was aatrek definitely owns coins
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Nov 26, 2021 01:12
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 Water finds it's own level.
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Nov 26, 2021 01:40
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Three Olives posted:
Great, now there's a TERF coin!
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Nov 26, 2021 02:25
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HootTheOwl posted:Great, now there's a TERF coin! £ has been around for a while mate
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Nov 26, 2021 02:26
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Alan Smithee posted:aatrek 
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Nov 26, 2021 02:33
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