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Fiat money is bad because there's no there there! It's all based on the imaginary policies of central banks! * crypto crashes * OK guys hear me out... let's just give everyone back their coins and start over like nothing happened.
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May 13, 2022 16:23
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prom candy posted:lol if you're not quick saving your blockchain every 5 minutes Save scumming my retirement portfolio
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May 13, 2022 16:24
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In 2008 they should've just clicked undo when the housing market imploded.
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May 13, 2022 16:25
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 what a loving dork. you can see the stink of a desperate desire to be seen as a visionary genius coming off him from miles away
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May 13, 2022 16:26
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I hit quick load when I was trying to hit quick save. Lost all my butts.
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May 13, 2022 16:26
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drat that's good
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May 13, 2022 16:26
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Blotto_Otter posted:the money police always move slowly, and they often don't move at all until after some very big wallets get hurt and/or a lot of wallets get hurt. on top of that, all this cryptocurrency jargon sounds like something new and therefore raises doubts about who has jurisdiction over what, so all of the folks in charge of the various federal agencies that act as money police spend years and years writing memos and holding hearings to decide whether or not this is all their problem to handle. (the answer is obviously "yes", this is all the same old Ponzi schemes and money laundering schemes and unregistered securities offerings they've always been charged with handling, but nobody's really interested in taking on that challenge as long as there are more powerful people defending cryptocurrency as a concept than there are powerful people who are condemning it.) I do wonder if this week's excitement might be enough to prod them into moving. Nobody cared about idiot randos flushing 5-6 figure savings away on ape jpegs but there's institutional money in BTC now.
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May 13, 2022 16:32
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They should do the snapshot thing so we can watch it collapse again
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May 13, 2022 17:00
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quick-saved right as the killing blow landed GODAMMIT
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May 13, 2022 17:05
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watching crypto bros invent the Fed in real time is excellent content
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May 13, 2022 17:13
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Guze posted:They should do the snapshot thing so we can watch it collapse again "No guys, guys, guys, you can't sell them as soon as we open. You have to all promise not to instantly sell them the moment its open. Ok, snapshot attempt #391"
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May 13, 2022 17:14
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Hitting ctrl-z when my goochcoin starts to go into the red.
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May 13, 2022 17:15
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CarpenterWalrus posted:watching crypto bros invent the Fed in real time is excellent content No not that fiat money, our fiat money!
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May 13, 2022 17:21
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the holy poopacy posted:I do wonder if this week's excitement might be enough to prod them into moving. Nobody cared about idiot randos flushing 5-6 figure savings away on ape jpegs but there's institutional money in BTC now. The large amount of institutional money makes things a lot more spicy but not because of the risk of regulation, but because they'll all just cut and run without a seconds hesitation if they have to. with the rationalisation that "Ok, we put a third of our 200 billion dollar 'high risk fund' into bitcoin but we managed to recover 15b of that while driving the price to 0 and loving over our competitors who lost even more so we did well'. As corporations start switching gear from 'holy gently caress, the government is just printing COVID money and giving it to us for free' to 'pre-recession footing', we should see them start unwinding their high risk investments so they have 'more cash' for 'the purge'. [Although the extent to which you believe this probably depends on how much you think bankers do things like 'care about the money they're entrusted with' or 'make good decisions after yet another night doing a lot of coke'.] But if you accept the premise that corps are trying to unwind their risky positions and move into safer assets like investment property [have you noticed why property prices and rents are spiking again?] then its easier to imagine that 'institutional bitcoin' is a bit like a wild west shootout at the moment. All the players know what the plan is and are each unwinding as slow as possible to avoid a panic. But as soon as one investment bank makes an obvious move they'll all have to start dumping hard and we'll enter the 'cool zone' again.
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May 13, 2022 17:23
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the holy poopacy posted:I do wonder if this week's excitement might be enough to prod them into moving. Nobody cared about idiot randos flushing 5-6 figure savings away on ape jpegs but there's institutional money in BTC now. regulatory oversight is going to stabilize crypto's value at zero, nobody who's still got a stake in it is pushing the feds to get involved
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May 13, 2022 17:31
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did this get posted yet? https://www.youtube.com/watch?v=IuklQw4vu3A
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May 13, 2022 17:33
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I assume the blood bath is now over and the short term movement is once again dominated by true believers
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May 13, 2022 17:36
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chaosbreather posted:some parts of the stack are very useful if you break it up. a private or centralised blockchain-based database can give you a mathematical guarantee against invisible tampering. decentralised databases are incredibly useful, for instance, bittorrent's DHT is pretty great and, a while ago, Usenet newsgroups. ie things that people have been doing long before "blockchain" became a buzzword quote:smart contracts aren't a terrible idea either, if they were lodged at an institution with the capability to legally and logistically enforce the non-digital outcomes of them, using a centralised database. hell no. like, I'm sure there are people who do want this, but that's because they're nerds with low social ability. The whole point about law is that it get interpreted by humans who can say "wait a minute this contract is against the law, I don't care what someone signed you can't do indentured servitude". Make code the master and even if it doesn't have gaping security holes you will get awful outcomes. The true goal is to make an excuse for a complete lack of conscience -- the code says you get hosed, too bad, not my fault. quote:the combination of decentralised and blockchain though results in pure contradiction: a database where you don't have to trust the people hosting the database nodes, but do have to trust literally everybody else without any means of validating or enforcing that trust. like a security system trained entirely on the guards, rather than the doors and valuables. it's a system that says the system itself is the only thing that needs protecting and security, not the people using it good or bad. anyone who can't understand why that's horrific is pretty hopeless
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May 13, 2022 17:36
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The depth of scamming is breathtaking https://twitter.com/Bitfinexed/status/1525149709056331777
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May 13, 2022 17:41
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priznat posted:The depth of scamming is breathtaking  This is art. Absolutely incredible.
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May 13, 2022 17:43
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Uhh... what??
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May 13, 2022 17:43
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Time_pants posted:Uhh... what?? Funds for me, not for thee.
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May 13, 2022 17:44
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Gentlemen start your lawyers!!
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May 13, 2022 17:44
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Klyith posted:like, I'm sure there are people who do want this, but that's because they're nerds with low social ability. The whole point about law is that it get interpreted by humans who can say "wait a minute this contract is against the law, I don't care what someone signed you can't do indentured servitude". Make code the master and even if it doesn't have gaping security holes you will get awful outcomes. The true goal is to make an excuse for a complete lack of conscience -- the code says you get hosed, too bad, not my fault. Someone in this thread did a really good take down of smart contracts that I can't find now. But the TLDR was that smart contracts are only useful for the part that can already be automated. The example was 'distributing profits at the end of making a movie'. All of the big legal contractual stuff is going to be around 'how much money did the movie make' and 'is it reasonable for the director to pay his cousin '70 million dollars' to 'stand around scratching his balls'. The actually 'smart contract based stuff is just taking the money and doing the automated distribution of the money, which is something a skilled accountant could do in a few hours without smart contracts.
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May 13, 2022 17:44
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priznat posted:The depth of scamming is breathtaking Honestly. I'm always a little impressed by behaviour like this. I couldn't manage the level of brazen self-confidence to pull something like that, if you replaced my entire circulatory system with uncut cocaine.
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May 13, 2022 17:47
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A few lucky idiots caught the knife and the exchange said "lol. Oh no you don't!"
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May 13, 2022 17:48
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Time_pants posted:Uhh... what?? When Terra and Luna collapsed a bunch of the "Luna Network" and places that trafficked in it had a lower limit of $0.10 for Luna. So when the price was $0.0005 people could still sell it for $0.10 certain places. The links were posted in this thread yesterday, it caused these exchanges to lose a bunch of money so there are going to be some rollbacks as these places try to reverse paying millions of dollars for a worthless currency because it was designed wrong. It's not saving any of the idiots that lost their rear end on the coin, just the idiot institutional buyers smart people owned with an exploit. Rectal Death Adept fucked around with this message at 17:52 on May 13, 2022 |
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May 13, 2022 17:48
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priznat posted:The depth of scamming is breathtaking did I loving call it or what? Klyith posted:lmao tell him not to gloat until he has the cash in his hands
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May 13, 2022 17:52
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Has anyone posted this guy before btw, his channel is insane: https://www.youtube.com/c/MMCryptoTube/videos
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May 13, 2022 17:56
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Time_pants posted:Uhh... what?? lol https://help.crypto.com/en/articles/1360622-does-crypto-com-hold-private-keys-to-the-cryptocurrency-wallets "In this stage of our app development, we hold the private keys, just like Coinbase and the majority of the exchanges. Even though you might not hold your private keys, your data and assets are extremely safe with us as we have the best cold storage in the industry and the highest insurance coverage. It is much easier for you to recover your account than if you had private keys."
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May 13, 2022 17:56
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Why the hell would anyone interact with the exchanges if they can, whenever you make a profit they don't like, completely reverse it on a whim?
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May 13, 2022 17:57
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There were a couple blips yesterday where someone getting could have doubled their money in a very short time. And now they take that away too. Hahahahahahahahahaha
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May 13, 2022 17:59
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priznat posted:The depth of scamming is breathtaking I honestly think crypto trading approaches a certain vision of hell. Just being blasted in the face by scam chaos 24/7
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May 13, 2022 18:00
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The problem with regular money is that you have to keep it in a bank. With crypto you get to be your own bank, but being your own bank is kind of hard though so it's best to keep your crypto in an exchange. One of the many advantages of a crypto exchange is gently caress you your money is mine now and I'm moving to the Cayman Islands.
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May 13, 2022 18:02
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priznat posted:The depth of scamming is breathtaking 
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May 13, 2022 18:04
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priznat posted:The depth of scamming is breathtaking Related to this, I think: https://twitter.com/web3isgreat/status/1524951853837991943
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May 13, 2022 18:07
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Some more Elon Save Us funny. https://twitter.com/bigarttalks/status/1525159304516538370 https://twitter.com/LunaTerraBurn/status/1525125806733017088 https://twitter.com/EjazZikria/status/1525050196958265346 https://twitter.com/Ahmet_cckk/status/1524833109555810307 https://twitter.com/flaviosiles/status/1525147268202086400 https://twitter.com/MdAnwar19566508/status/1525146627811397633 https://twitter.com/imran_prsnl/status/1524783805298450432 The gift that keeps giving.
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May 13, 2022 18:10
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Party Ape posted:The actually 'smart contract based stuff is just taking the money and doing the automated distribution of the money, which is something a skilled accountant could do in a few hours without smart contracts. it's also something that all decent databases can already do with stored procedures. that's all a smart contract is, a stored procedure in the worlds slowest database
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May 13, 2022 18:10
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priznat posted:The depth of scamming is breathtaking 
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May 13, 2022 18:14
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May 13, 2022 18:17
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