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RPATDO_LAMD posted:it depends on the coin. you can probably cash out millions in bitcoin or ethereum just fine but then you'll see some of these meme shitcoins with a market cap of a billion dollars with such little liquidity that one person cashing out 300k crashes the price because nobody is actually buying yep, I assumed we were talking about luna pre-crash which was one of the largest with plenty of buyers
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May 12, 2022 22:58
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akadajet posted:i googled pegging and don't want that at all. you got ape juice to slurp boy.
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May 12, 2022 22:59
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poo poo like tether means that theoretical liquidity has absolutely no connection to market cap like if stablecoins were *actually* just used for their apparent purpose (skirting around aml laws) then...well, crypto market caps would still be bullshit, but they'd be closer to the kind of bullshit that like a stock market cap is. like you still wouldn't be able to extract the full market cap by selling all the stuff, but there would be an actual observable relationship between the two. but since exchanges have incentive to keep tweaking the price because they make their money as a fraction of the "value" of the transaction....
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May 12, 2022 23:02
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Crusader posted:https://twitter.com/unusual_whales/status/1524789830844043266?s=21&t=f12DHP4R4JBw_wS6dLrThQ wait you can do that just stop a blockchain
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May 12, 2022 23:05
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Alan Smithee posted:wait you can do that grifters wisely realized that today's legion of moron crypto investors don't actually care about the decentralized libertarian bits of bit coin and will happily buy anything with the word "blockchain" on it even if it's entirely centralized. if your "blockchain" is actually 5 servers in your basement instead of a distributed trustless system with no one owner, you can do whatever you want with it. plus it's so much cheaper to run with lower transaction fees!!
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May 12, 2022 23:14
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Alan Smithee posted:wait you can do that who’s gonna stop you, the fed?
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May 12, 2022 23:14
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lmao just remembered the guy who was running an exchange on an Amazon EC2 instance with termination protection turned off, and he went to restart it and *poof* went the exchange along with all the coins. good times, good times
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May 12, 2022 23:16
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Just-In-Timeberlake posted:lmao just remembered the guy who was running an exchange on an Amazon EC2 instance with termination protection turned off, and he went to restart it and *poof* went the exchange along with all the coins. this is something i would do (minus the running an exchange part) so i respect it.
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May 12, 2022 23:17
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Beeftweeter posted:that's all true and i'm guessing the sharp rise in LNG + coal prices also made it rapidly unaffordable for the jerks that bought up decommissioned power plants to run their dumb mining rigs. i really wish NY's moratorium legislation spawns a bunch of copycats, but lol that only happens with poo poo that tramples on people, not ~markets~ I wish NY would backtrack and bring Indian Point back online.
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May 12, 2022 23:27
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did number go down again?
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May 12, 2022 23:27
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https://twitter.com/unusual_whales/status/1524815320619294723 the secret sauce turned out to be slurp juice 
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May 12, 2022 23:40
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CommieGIR posted:I wish NY would backtrack and bring Indian Point back online. 1000% agreed pal
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May 12, 2022 23:44
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the secret sauce is fraud
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May 12, 2022 23:44
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FMguru posted:https://twitter.com/unusual_whales/status/1524815320619294723 it's cum cum backed coins
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May 12, 2022 23:45
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the secret sauce is literally from mcdonalds, so they can't talk about it
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May 12, 2022 23:46
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has anyone made szechuancoin
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May 12, 2022 23:47
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i will never reveal the Big Mac secret
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May 12, 2022 23:47
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Alan Smithee posted:it's cum premature devaluation
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May 12, 2022 23:48
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Just-In-Timeberlake posted:lmao just remembered the guy who was running an exchange on an Amazon EC2 instance with termination protection turned off, and he went to restart it and *poof* went the exchange along with all the coins. i still think about that from time to time. i'm still amazed at the fact that i apparently read more documentation and have a better understanding of AWS than the people running something ostensibly worth multiple millions, and the only thing i've ever actually done in AWS is setup a locked down centos instance i use as a private git repo and an offsite backup for important documents
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May 12, 2022 23:50
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Deep Dish Fuckfest posted:i still think about that from time to time. i'm still amazed at the fact that i apparently read more documentation and have a better understanding of AWS than the people running something ostensibly worth multiple millions, and the only thing i've ever actually done in AWS is setup a locked down centos instance i use as a private git repo and an offsite backup for important documents newcomers to crypto missed some absolutely incredible things all lost, like tears in the rain.
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May 12, 2022 23:54
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how is it possible to be this bad at mathLamebot posted:The numbers don't lie. Pack it up, mathailures.
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May 12, 2022 23:55
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qirex posted:how is it possible to be this bad at math it can only fall 4% now ahahaha owned all you whales that cashed out 
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May 12, 2022 23:57
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Deep Dish Fuckfest posted:i still think about that from time to time. i'm still amazed at the fact that i apparently read more documentation and have a better understanding of AWS than the people running something ostensibly worth multiple millions, and the only thing i've ever actually done in AWS is setup a locked down centos instance i use as a private git repo and an offsite backup for important documents to be fair, those people were at the time primarily teenagers who spent all their time on the bitcointalk forums and had no practical experience with anything whatsoever also, mark karpeles
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May 13, 2022 00:21
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the entire bitcoin market infrastructure was people too young and too stupid to know better, who bought into the SV startup myth and believed they could run a multi-million dollar financial service from their parent's basement. the people nowadays are also complete idiots, but with shitloads of VC cash and the complete inability to learn anything at all from those who came before them
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May 13, 2022 00:24
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Zamujasa posted:premature devaluation mods???
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May 13, 2022 00:27
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infernal machines posted:the entire bitcoin market infrastructure was people too young and too stupid to know better, who bought into the stupid SV startup myth and believed they could run a multi-million dollar financial service from their parent's basement. goddamn the lols were so good raising some 40k to redo the bitcointalk forums, that were going to be perfect from day one because needing to test beta software meant you had hosed up bitcoiners trying to mansplain bitcoin to sex workers and getting completely owned the bitcointalk forums getting backdoored and had Cosby poo poo all over the place because they literally allowed anybody to write some of the JS and a goon took up the task.
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May 13, 2022 00:28
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i've tried to explain that i've been watching this poo poo for over a decade, to people who are just now "getting into crypto", and that the reason i don't have any is because of what i've seen. oh lord, the things i've seen i always wish them luck though
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May 13, 2022 00:32
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too bad Cosby turned out to be a creep, this poo poo was amazing when it went down
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May 13, 2022 00:36
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wasn't there a gif that purported to be converting the site visitor's bitscoin to cosbycoins? i wonder how many of them lost their poo poo.
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May 13, 2022 00:42
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kw0134 posted:wasn't there a gif that purported to be converting the site visitor's bitscoin to cosbycoins? i wonder how many of them lost their poo poo. lol yeah, I remember ppl were panicking
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May 13, 2022 00:43
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kw0134 posted:wasn't there a gif that purported to be converting the site visitor's bitscoin to cosbycoins? i wonder how many of them lost their poo poo.   from: https://www.buttcoinfoundation.org/tag/cosbycoin/ the site is a great repository of bitcoin lols from years past
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May 13, 2022 00:46
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The Something Awful Forums > Discussion > Serious Hardware/Software Crap > YOSPOS > buttcoin: the secret sauce turned out to be slurp juice
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May 13, 2022 00:47
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this is a pretty decent video with some speculation on the Luna / Terra attack https://youtu.be/Inr5t0Q_JGg
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May 13, 2022 00:49
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infernal machines posted:
lmao yeah, they took the forums down, said they fixed it, and poo poo immediately went Cosby as soon as they brought them back up. can't remember the goon's name who did it though.
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May 13, 2022 00:50
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infernal machines posted:i've tried to explain that i've been watching this poo poo for over a decade, to people who are just now "getting into crypto", and that the reason i don't have any is because of what i've seen. i remember reading yospos back when asics first became a thing and butterfly labs was sending out just the worst poo poo to buttcoiners gently caress how long ago was that
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May 13, 2022 00:50
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MarcusSA posted:this is a pretty decent video with some speculation on the Luna / Terra attack lol what attack
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May 13, 2022 00:50
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Nostalgia4Butts posted:i remember reading yospos back when asics first became a thing and butterfly labs was sending out just the worst poo poo to buttcoiners even better, they were making them and "testing" them by mining bitcoin and by the time they got to customers they were obsolete.
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May 13, 2022 00:51
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Nostalgia4Butts posted:i remember reading yospos back when asics first became a thing and butterfly labs was sending out just the worst poo poo to buttcoiners They would "burn them in" by mining bitcoin for themselves for months with hardware people had paid for, then finally deliver it as having passed quality checks when the difficulty went up making the hardware significantly less valuable.
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May 13, 2022 00:54
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Nostalgia4Butts posted:i remember reading yospos back when asics first became a thing and butterfly labs was sending out just the worst poo poo to buttcoiners  9 years ago, friend. e: excellent username/post combo infernal machines fucked around with this message at 00:57 on May 13, 2022 |
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May 13, 2022 00:55
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mrmcd posted:They would "burn them in" by mining bitcoin for themselves for months with hardware people had paid for, then finally deliver it as having passed quality checks when the difficulty went up making the hardware significantly less valuable. it turns out the only reason to sell shovels in a gold rush is because you've already used them to mine until they're dull
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May 13, 2022 00:56
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