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Short selling sanity.
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Dec 10, 2021 16:11
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| # ? May 29, 2024 14:57 |
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I think it’s interesting to see how bad at math tech bros and crypto idiots are. If a stock doubles overnight (100% gain), then loses 60% the next day, the stock is below where it started. If it starts at 100, moves to 200 (100% gain) and loses 60% it ends up at $80. I’m sure a lot of them would think it increased by 40% (100% - 60%). Also when bitcoin isn’t actually going up uP UP and is languishing around the same price having random sell offs it really takes the wind out of the sails of all these idiots because they don’t want to get rich slowly, they want to get rich quick (or more likely lose all their money quickly). Talk to the typical boomer about investments and it’s very common for them to think that getting rich slowly is bullshit nonsense where you get bled dry. Either you get rich quick or you get poor (or die). How would they react to bitcoin not moving for 12mo?
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Dec 10, 2021 16:18
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There's math involved? All I've ever seen is chest-thumping about how number goes up (even when number strangely does not always go up).
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Dec 10, 2021 16:22
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There’s always math involved with money. Only total loving idiots think otherwise so it makes total sense that bitcoin is where it is.
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Dec 10, 2021 16:40
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Phlag posted:Is there anything stopping me from creating a new NFT for that digital image and trying to pass it off as an original? They're not actually linked to their creator. Most NFTs based on existing art are being created without knowledge or approval of the original artist and do not represent ownership of the original art in any sense. But yes, also, there's nothing forcing NFTs to be truly unique so if someone has an NFT of lovely Ape #1371 you can just as easily make another NFT of lovely Ape #1371. They're non-fungible in the sense that both of them have their own unique, traceable provenance, so someone who knows what they're doing can tell them apart and if they're familiar with the background of the original lovely Ape #1371 NFT they can identify which one is "official." But there's nothing intrinsic or special about any given NFT that proves it's original or that it's what it claims to be.
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Dec 10, 2021 16:46
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tehinternet posted:NFT = buying the receipt (oN tHe BLoCkChAiN) for the digital image that’s hosted on a third party server that you have no control over Well, no, because it's not the receipt, it's a receipt. And it's not for the image. It's for a link to an image.
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Dec 10, 2021 16:52
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broke: buy a painting from an artist woke: buy ownership to a link to a digital picture of a painting from someone other than the artist
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Dec 10, 2021 16:56
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bespoke: bot the jacking of every crypto wallet you can
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Dec 10, 2021 16:59
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https://twitter.com/stillindigo/status/1468822552768233474
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Dec 10, 2021 17:03
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One of the major things about NFTs is how their buyers and proponents universally either don't know, refuse to acknowledge, or actively lie about what they actually do and how they work.
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Dec 10, 2021 17:13
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jokes posted:There’s always math involved with money. Only total loving idiots think otherwise so it makes total sense that bitcoin is where it is. Is this why American schools are so obsessed with math? Because of the money connection? I only think this because I watched Mean Girls.
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Dec 10, 2021 17:15
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The funniest thing about the whole deal with NFTs being made of stolen art is that the normal response from cryptobros is to condemn the artist for not making their art NFTs themselves first. Speaking of people into crypto/nfts not knowing anything about them, a little while back I saw some dumbass crypto twitter thread, with a particular tweet stating "Blockchains are special computers anyone can access but no one owns." Someone sane replied that computers are physical devices owned by someone on Earth, to which a loving mental master 'program manager at Microsoft' cryptobro responded saying, slightly paraphrased, "Computers don't need to be connected to physical hardware. Are abstract thoughts physical?" Black Pants fucked around with this message at 17:40 on Dec 10, 2021 |
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Dec 10, 2021 17:22
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jokes posted:There’s always math involved with money. Only total loving idiots think otherwise so it makes total sense that bitcoin is where it is. Well, yeah, but I guess my point is a lot of the people swept up into this poo poo are not the ones doing any actual math. See my friend's boyfriend who is totally "making it big" off of his DogeCoin investments. Any day now. Also he's only dealing on the side, he swears.
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Dec 10, 2021 17:23
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jokes posted:I think it’s interesting to see how bad at math tech bros and crypto idiots are. The entire architecture of all of this crap is hype. The problem is there seems to be no shortage of inflows of rubes who are - at least on the face of it - validating the whole thing. Things can have disconnected value just because people believe in it, like art, but all this poo poo is depressing as gently caress. As an aside I had a conversation with a close friend who is deep in all of this stuff, and he was telling me about some guy he follows on YouTube that pumps out videos every day who apparently is sitting on $38 million from a trade he did recently. I asked him why this guy would still be wasting his time begging for likes and subscribes for poxy YouTube monetisation when he could be on a boat somewhere? I didn't get an answer.
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Dec 10, 2021 17:26
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Ghost Leviathan posted:One of the major things about NFTs is how their buyers and proponents universally either don't know, refuse to acknowledge, or actively lie about what they actually do and how they work. Don't forget the conspicuous consumption angle. Some people buy NFT's precisely because they're wasteful and stupid.
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Dec 10, 2021 17:27
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Durzel posted:As an aside I had a conversation with a close friend who is deep in all of this stuff, and he was telling me about some guy he follows on YouTube that pumps out videos every day who apparently is sitting on $38 million from a trade he did recently. I asked him why this guy would still be wasting his time begging for likes and subscribes for poxy YouTube monetisation when he could be on a boat somewhere? I didn't get an answer. $38M is enough money to live in luxury for life. Nice condos in several of the world's most expensive cities, $1000 meals multiple times a week, first class everything, etc. Invested properly, your children and grandchildren would never need to work. Youtube pays about $1 per 1000 views.
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Dec 10, 2021 17:43
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If you are doing stuff on DeFi platforms it is extremely easy to get trades that say "+$38 million" on your screen but will never ever be worth even a fraction of that amount.
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Dec 10, 2021 17:56
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Prurient Squid posted:Is this why American schools are so obsessed with math? Because of the money connection? I only think this because I watched Mean Girls. American's Math system is based on getting the kids who are intuitive with numbers to get them to know calculus to do physics and beat the Soviets.
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Dec 10, 2021 17:57
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Mooseontheloose posted:American's Math system is based on getting the kids who are intuitive with numbers to get them to know calculus to do physics and beat the Soviets. In the space race.
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Dec 10, 2021 18:26
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Durzel posted:As an aside I had a conversation with a close friend who is deep in all of this stuff, and he was telling me about some guy he follows on YouTube that pumps out videos every day who apparently is sitting on $38 million from a trade he did recently. I asked him why this guy would still be wasting his time begging for likes and subscribes for poxy YouTube monetisation when he could be on a boat somewhere? I didn't get an answer. even a dude with millions or billions in the bank can be desperate for the validation of others, look at elon musk on twitter (this dude does definitely not have $38 million tho)
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Dec 10, 2021 18:26
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HootTheOwl posted:Well, no, because it's not the receipt, it's a receipt. Lmao I forgot that you could make multiples It’s just so loving stupid top to bottom, it’s only use is money laundering, full stop
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Dec 10, 2021 18:32
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The national lottery in the UK does a game called Set For Life, where the winner receives £10k every month for 30 years. An incredible amount of money, yet it only actually equals £3.6m in total. If I had $38 million I'd never give a poo poo what anyone thought about anything ever again.
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Dec 10, 2021 18:38
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Black Pants posted:The funniest thing about the whole deal with NFTs being made of stolen art is that the normal response from cryptobros is to condemn the artist for not making their art NFTs themselves first.
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Dec 10, 2021 18:39
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Phlag posted:Is there anything stopping me from creating a new NFT for that digital image and trying to pass it off as an original? You're right! There's nothing stopping people from making a NFT of something that's already had a NFT made of it by someone else. The only way to distinguish between them is go dig back through the ownership history to see the wallet address that created the NFT, and verify that it's the wallet address of the artist who originally drew the art. Durzel posted:As an aside I had a conversation with a close friend who is deep in all of this stuff, and he was telling me about some guy he follows on YouTube that pumps out videos every day who apparently is sitting on $38 million from a trade he did recently. I asked him why this guy would still be wasting his time begging for likes and subscribes for poxy YouTube monetisation when he could be on a boat somewhere? I didn't get an answer. He's not doing it for the YouTube monetization, he's doing it to con the rubes watching his YouTube videos into buying into poo poo that he will personally profit from. The first rule of investment advice is that if someone with a platform is telling you to invest in something, your investment in that something is going to benefit them, not you.
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Dec 10, 2021 18:42
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Dec 10, 2021 18:46
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https://twitter.com/100trillionUSD/status/1469252163776000004
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Dec 10, 2021 18:49
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yeah all these meaningless graphs sure prove that you're not a dipshit keep 'em comin'
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Dec 10, 2021 18:52
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I thought it was $100k by EOY though? It's not even $100k on that graph by Feb 2022? Hey man, I've got 5 kids to feed.
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Dec 10, 2021 19:02
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https://twitter.com/patrickmbigger/status/1469106877745270790 Whoopsy daisy, just enriching white supremecists.
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Dec 10, 2021 19:08
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Liquid Communism posted:https://twitter.com/patrickmbigger/status/1469106877745270790 it was already completely unconscionable without getting white supremacy involved
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Dec 10, 2021 19:11
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Durzel posted:I thought it was $100k by EOY though? It's not even $100k on that graph by Feb 2022? Hey man, I've got 5 kids to feed.
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Dec 10, 2021 19:19
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If number go up that means number keep going up. SCIENCE.
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Dec 10, 2021 19:21
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look it's just infinite free money for everyone who buys in, and if you don't believe that then *you* are the fuckin' moron
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Dec 10, 2021 19:26
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*throws a handful of cards that read “blockchain” and other buzzwords at you* Well?? Are you still an absolute idiot or are you gonna buy my loving bitcoin
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Dec 10, 2021 19:28
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too good to be true? buddy just look at these lines i drew on a chart
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Dec 10, 2021 19:33
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Also it’s just about to take the gently caress off. Everyone knows it. Why hasn’t it already happened if everyone knows it? Well, heh, block chain decentralized satoshi— *disappears in a monkey-shaped cloud of dust* *from far away* don’t look at that cloud of dust, it’s my property I own it!
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Dec 10, 2021 19:38
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zedprime posted:Technically correct. Computers were women for a while and we aren't yet at the level of social decay where someone's gonna admit they owned them. Until someone finds a way of putting women on the blockchain.
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Dec 10, 2021 19:53
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What is it with bitcoiners and log graphs? Seems like the PlanB guy is using it to try and make it look like his predictions weren't frequently off by an order of magnitude. In reality, Bitcoin is now pretty heavily correlated to the stock market: https://twitter.com/TheStalwart/status/1469300258425421824
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Dec 10, 2021 19:57
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kw0134 posted:No, that's the other buttcoin moron who only posts in this thread. This is the moron who posts charts as though it means anything. Oh. I've just been assuming that Ghosty and Salt Shakeup were the same person for some reason?
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Dec 10, 2021 20:00
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https://www.pcgamer.com/ubisoft-de-lists-overwhelmingly-disliked-nft-announcement-video/ Lol. It's been two days and they are already walking back their NFT announcements. Good.
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Dec 10, 2021 20:39
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