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Crypto seems like a casino where you buy chips and gamble with them, but at the end of the day you end up with a bunch of chips you can't effectively cash out. And because they keep making more chips to play the same games, the risk and reward goes up but only in a theoretical manner because it's all measured in chips that can constantly increase in supply. Labeling the chips $1 a piece makes it sound like a lot of money, but it's not since there is any inherent value of the chips themselves. "Yay, I won $500,000 playing blackjack!" but that $500,000 is in chips issued by the casino which has a vested interest in making sure they don't leave the casino, or have any viable way to leave the casino. People trade and shuffle the chips around, and the credulous media reports it in actual dollar terms, when it's really just chips labeled with that value.
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# ? Feb 11, 2022 01:02 |
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# ? May 31, 2024 16:59 |
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Potato Salad posted:It's why crypto-crypto laundering services exist: insert a bunch of crypto in one end, get crypto out the other end in various clever ways Going to be interesting to see when more information comes out how the tracing was done. Answered in another post - FBI and subpeonas to the exchanges is the answer. Pikehead fucked around with this message at 01:28 on Feb 11, 2022 |
# ? Feb 11, 2022 01:23 |
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https://twitter.com/KrangTNelson/status/1491893928903200770
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# ? Feb 11, 2022 01:32 |
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ee: I'm trying to picture what the stonks version would look like, and it's making my head hurt e: tyvm, I didn't expect someone to do this, but I had secretly hoped vvvvvvvvvvvv HolHorsejob fucked around with this message at 03:07 on Feb 11, 2022 |
# ? Feb 11, 2022 02:54 |
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Fixed
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# ? Feb 11, 2022 03:01 |
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Zil posted:Fixed
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# ? Feb 11, 2022 03:09 |
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It just works. (I have no idea how it works.)
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# ? Feb 11, 2022 03:12 |
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Zil posted:Fixed
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# ? Feb 11, 2022 03:33 |
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That makes me think of a question: let’s pretend I brokebraindedly buy an NFT. I set it to my twitter icon for that sweet sweet hexagonal pride. Then all my apes get stolen. Does my icon change or no?
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# ? Feb 11, 2022 03:45 |
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Bean posted:That makes me think of a question: let’s pretend I brokebraindedly buy an NFT. I set it to my twitter icon for that sweet sweet hexagonal pride. Then all my apes get stolen. Does my icon change or no? depends on how dedicated to the particular grift discord group you are. u don't want to spread FUD at all costs (including all of your money)
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# ? Feb 11, 2022 03:51 |
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Bean posted:That makes me think of a question: let’s pretend I brokebraindedly buy an NFT. I set it to my twitter icon for that sweet sweet hexagonal pride. Then all my apes get stolen. Does my icon change or no? Twitter's FAQ says that if the linked NFT gets transferred or sold to a different wallet, your hexagon reverts to a regular avatar (same image though)
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# ? Feb 11, 2022 04:06 |
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Thank you, now I don’t need to.
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# ? Feb 11, 2022 04:19 |
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CaptainSarcastic posted:Crypto seems like a casino where you buy chips and gamble with them, but at the end of the day you end up with a bunch of chips you can't effectively cash out. And because they keep making more chips to play the same games, the risk and reward goes up but only in a theoretical manner because it's all measured in chips that can constantly increase in supply. Labeling the chips $1 a piece makes it sound like a lot of money, but it's not since there is any inherent value of the chips themselves. Its a casino that makes more chips then it has cash. Ironically this constant stream of “cash” into the crypto economy causes massive inflation which makes the coins cost more. Yes, it really is that stupid.
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# ? Feb 11, 2022 04:28 |
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Wait I’m confused wasn’t decentralizing everything supposed to solve all this nonsense!?
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# ? Feb 11, 2022 04:34 |
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a casino is better ebcause you can get comp free booze and get coupons for a steak or buffet or you might get catfished and get laided.
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# ? Feb 11, 2022 04:41 |
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Looks like a "Forbes contributor" tagline is about to get even less prestigious: https://blockworks.co/crypto-exchange-binance-receives-200m-stake-in-forbes/ quote:Binance, one of the largest cryptocurrency exchanges in the world, has committed a $200 million strategic investment into global media company Forbes.
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# ? Feb 11, 2022 06:46 |
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istewart posted:Looks like a "Forbes contributor" tagline is about to get even less prestigious: Might be time to add forbes.com to my blocklist.
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# ? Feb 11, 2022 07:38 |
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few people understand!
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# ? Feb 11, 2022 08:22 |
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pretty clear that ghost titty is just low effort trolling at this point i don't know why you guys keep feeding him, his posts aren't even funny anymore
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# ? Feb 11, 2022 08:56 |
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Ape theft and ape crime in general is getting outta control, I will vote for anyone who can get it under control again
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# ? Feb 11, 2022 09:12 |
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repiv posted:Twitter's FAQ says that if the linked NFT gets transferred or sold to a different wallet, your hexagon reverts to a regular avatar (same image though) and the fellow members of your particular ape club will politely but firmly ask you to change it from that after your inevitable All My Apes Gone tweet
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# ? Feb 11, 2022 10:12 |
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Bitcoin: They went straight for my ape
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# ? Feb 11, 2022 10:17 |
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a hot gujju bhabhi posted:pretty clear that ghost titty is just low effort trolling at this point i don't know why you guys keep feeding him, his posts aren't even funny anymore how do you feel about airline food?
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# ? Feb 11, 2022 14:52 |
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# ? Feb 11, 2022 15:43 |
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secure digital currencies as a method of displaying wealth and status has been going great https://twitter.com/BusinessInsider/status/1491898378116083725 quote:Kidnapped for crypto: Criminals see flashy crypto owners as easy targets, and it has led to a disturbing string of violent robberies
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# ? Feb 11, 2022 17:33 |
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How embarrassing, kidnapping and and threatening murder for pogs
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# ? Feb 11, 2022 17:48 |
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spunkshui posted:Its a casino that makes more chips then it has cash. There's something hilarious about inventing hyperinflation for their deflationary currency.
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# ? Feb 11, 2022 17:51 |
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GABA ghoul posted:Ape theft and ape crime in general is getting outta control, I will vote for anyone who can get it under control again Death penalty for ape theft, but also death penalty for using an un-owned ape as your profile pic.
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# ? Feb 11, 2022 17:57 |
more like shitcoin
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# ? Feb 11, 2022 18:34 |
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we've talked here for years about how all the fanciest cryptography in the world doesnt fuckin matter when an attacker can just break your kneecap instead of your encryption, and there's definitely enough bagholder money in the system to tempt people to go for it now back when early adopters were insane-brained apocalypse preppers they used to give much more of a gently caress about hiding their identity, but now that crypto has been fully hijacked by hypercapitalist vultures they dont really think of that as much
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# ? Feb 11, 2022 18:34 |
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Doctor Dogballs posted:more like shitcoin ive been saying this
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# ? Feb 11, 2022 18:34 |
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thank you for saying it
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# ? Feb 11, 2022 18:36 |
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Ad by Khad posted:we've talked here for years about how all the fanciest cryptography in the world doesnt fuckin matter when an attacker can just break your kneecap instead of your encryption, and there's definitely enough bagholder money in the system to tempt people to go for it now For all that they claim to be lovers of cryptography, you'd think they'd know what rubber hose decryption is.
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# ? Feb 11, 2022 18:49 |
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That makes me think of the far stupider crime where four of our area high schools were ransomed for bitcoin. https://www.kentucky.com/news/local/education/article254417898.html Now, if you’re digging for bitcoins, I don’t know why you’d hit four random high schools in Kentucky
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# ? Feb 11, 2022 19:09 |
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Bitcoin et al. are MLMs for people with technical illiteracy, which is most because obviously we didn't need do computer education except how to use microsoft word maybe
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# ? Feb 11, 2022 19:10 |
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Mercury_Storm posted:Bitcoin et al. are MLMs for people with technical illiteracy, which is most because obviously we didn't need do computer education except how to use microsoft word maybe Even some basic economics would have solved a lot of the thinking around it. People don’t really need to know the technical aspects but they should understand the basics on what makes things have actual value.
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# ? Feb 11, 2022 19:12 |
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Bean posted:That makes me think of the far stupider crime where four of our area high schools were ransomed for bitcoin. That's just how ransom attacks work these days. You demand the payment in bitcoin because it's "untraceable".
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# ? Feb 11, 2022 19:15 |
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Ad by Khad posted:we've talked here for years about how all the fanciest cryptography in the world doesnt fuckin matter when an attacker can just break your kneecap instead of your encryption, and there's definitely enough bagholder money in the system to tempt people to go for it now
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# ? Feb 11, 2022 19:19 |
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Doctor Dogballs posted:more like shitcoin
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# ? Feb 11, 2022 19:27 |
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# ? May 31, 2024 16:59 |
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another reason that sophisticated ransomware attacks (which is not what this dumb bomb threat was, I'm talking more about the kind of attacks that shut down the entire Baltimore city government for 2 weeks) demand payment in crypto is because if they demanded payment in US dollars, and you attempted to pay it, your bank would just start laughing in your face and politely but firmly tell you to stop trying to evade international sanctions a ransom payment in bitcoin is still traceable but it isn't something a bank can put a hold on or reverse. like how we can see that crypto thefts and hacks are funding most of north korea's nuclear program in 2022
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# ? Feb 11, 2022 19:27 |