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Deep Glove Bruno posted:going to invent a three legged chair and call it stablechair  BitStool get it
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May 24, 2022 02:11
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CannonFodder posted:
Yea the bitcoin chair would have no backing
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May 24, 2022 02:13
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Zil posted:So these rug pulls are just elaborate money laundering schemes right? No way so many people keep falling for them over and over again. https://qz.com/967554/the-five-universal-laws-of-human-stupidity/ Law 1: Always and inevitably everyone underestimates the number of stupid individuals in circulation.
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May 24, 2022 02:29
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People know some of these are rug pulls they just think they can get out before it goes
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May 24, 2022 02:56
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That's why the cult of hodl needs buy-in on "to the moon", to stop people from getting off at everest.
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May 24, 2022 03:00
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except many of these people have barely ever gone higher than the tallest building they ever worked in. though they maybe be a non zero amount of coinerz bodies on Everest.
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May 24, 2022 03:41
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What the holy gently caress is this nonsense https://twitter.com/DSBatten/status/1528904169322840064 Is this dummy saying by powering bitcoin miners off leaking methane (from where, oil wells?) it helps fight climate change? Is that what this is about?
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May 24, 2022 04:09
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It's based on GHG rating of methane being some multiple of CO2. It doesn't account for the fact you could do literally anything else with that methane and it would be more productive than Bitcoin. e: and who knows how long that methane has to hang around to equal its own heat of combustion
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May 24, 2022 04:18
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You know what would be even better? doing literally anything else with the power obtained from the methane combustion process
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May 24, 2022 04:23
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Dr. Video Games 0031 posted:You know what would be even better? doing literally anything else with the power obtained from the methane combustion process So weaponize it, got it.
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May 24, 2022 04:28
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Dr. Video Games 0031 posted:You know what would be even better? doing literally anything else with the power obtained from the methane combustion process Exactly this.. Heck does it even need to be combusted, wouldn't sequestering it be even better? Oh but that takes ~effort~ or some nonsense.. Doesn't produce mountains of e-waste and assorted scams though.
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May 24, 2022 04:35
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Guze posted:People know some of these are rug pulls they just think they can get out before it goes greedy rubes are the best kind of idiots to juice dry like a slurp (x 3).
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May 24, 2022 04:38
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Zil posted:So weaponize it, got it. It already is weaponized, the bitcoin phenomenon is the first successful instance of memetic warfare
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May 24, 2022 06:06
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drat they are admitting someone could just shut down bitcoin instead of capture and burn all methane and it would have the same effect?
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May 24, 2022 06:07
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Cyrano4747 posted:How would this even work as money laundering? The whole point of that is to get cash that's illegitimate (and thus something you don't want to declare on your taxes) a legitimate fig leaf to explain where it came from. So funneling all of your gambling and drug money into a mysteriously successful chain of laundromats. the people pulling the rug are the ones washing the money - they start a token, claim all these totally unknown users "invested" all this money into it, then "rug pull" the money and it's suddenly theirs in an outwardly "legal/legitimate" way
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May 24, 2022 06:34
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Zil posted:So weaponize it, got it. If it's used for bitcoin it's arguably already weaponized. Using it for military explosives or whatever would be far more honest.
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May 24, 2022 07:01
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Question for the hive. In a discussion about the use cases of cryptocurrency I was told that illegal activity only makes up around 1% of transactions in cryptocurrency. This is in response to my suggesting that the only use case was crime and child sexual abuse. See https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/ The only info I can find is stuff like that link. But to my mind....the other 99% is just wash trading and people exchanging their pogs for filthy fiat right? There's literally nothing else going on.
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May 24, 2022 07:56
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With no big, obvious "buy illegal stuff here" sites anymore, it's probably not even 1%. The crypto market is full of people trading their coins for money, or coins for other coins, coins for tokens, etc.
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May 24, 2022 08:00
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priznat posted:What the holy gently caress is this nonsense It's easy: 1) Move bitcoin mines to thawing permafrost 2) Set up methane-run thermal power plants 3) Burn said methane to power bitcoin mining computers 4) Use heat from computers to thaw more permafrost, freeing more methane for use in power plant What could possibly go wrong???
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May 24, 2022 08:07
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man my twitter is nonstop recommend me crypto bros tweets and hot NFT mints, but at least i get the occasional crypto bros taking Ls posts https://twitter.com/TheRyanLion/status/1528744039687897089 im so glad to have never heard of these apps (dApps?)
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May 24, 2022 08:16
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oh no, not my dune nfts! https://twitter.com/Kotaku/status/1528904297735503873
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May 24, 2022 08:46
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busalover posted:oh no, not my dune nfts! racism, homophobia AND grooming? haha those NFT bros, always trying to make collections of things most people wouldn't even consider collectable
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May 24, 2022 08:58
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Its called Dune, when this is clearly Serial Experiments Lain? Yes its a dark web expression
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May 24, 2022 09:06
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The Butlerian Jihad would make Bitcoin go to zero.
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May 24, 2022 10:51
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lynch_69 posted:The Butlerian Jihad would make Bitcoin go to zero. Virgin spice hoard backed solaris fan vs chad AI generated Bitcoin enjoyer
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May 24, 2022 11:05
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Isn't it a big point of dune that ai cannot be allowed to operate lest it destroys the human species? How does a dune coin work
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May 24, 2022 11:12
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The Saddest Rhino posted:Isn't it a big point of dune that ai cannot be allowed to operate lest it destroys the human species? How does a dune coin work Without the I part of AI.
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May 24, 2022 11:15
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The Saddest Rhino posted:Isn't it a big point of dune that ai cannot be allowed to operate lest it destroys the human species? How does a dune coin work The Spice is coins did you even read the book
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May 24, 2022 11:15
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The Saddest Rhino posted:Isn't it a big point of dune that ai cannot be allowed to operate lest it destroys the human species? How does a dune coin work We use drug addicted human computers here bro
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May 24, 2022 11:16
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Deep Glove Bruno posted:going to invent a three legged chair and call it stablechair three legs is actually the most stable quantity of legs for furniture because three points always make a plane regardless of the unevenness of the floor/surface
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May 24, 2022 11:29
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CountryMatters posted:three legs is actually the most stable quantity of legs for furniture because three points always make a plane regardless of the unevenness of the floor/surface Least wobble. Worst collapse. There. Now we’ve all learned a lesson about efficiency vs resilience.
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May 24, 2022 11:40
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one huge leg is best
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May 24, 2022 11:50
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Just never sit
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May 24, 2022 12:17
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CongoJack posted:Yea the bitcoin chair would have no backing
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May 24, 2022 12:38
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Illuminti posted:Question for the hive.
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May 24, 2022 12:40
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Illuminti posted:Question for the hive. Surely a blog dedicated to *checks notes* positive analysis of the crypto market wouldn't write a report biased towards crypto! quote:Cryptocurrencies have already opened up new markets and made the global economy bigger, fairer, and more deeply integrated. We’re only seeing the beginning of what this transformative technology has to offer. Pretty sure accurately reporting on crypto would be counter to their entire mission. CommieGIR fucked around with this message at 12:46 on May 24, 2022 |
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May 24, 2022 12:42
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ultrafilter posted:https://twitter.com/ricardovalp/status/1528772559709163520 Tether is a scam, but that is a nonsense "r/superstonk due diligence"-level theory. 1. The $286 million on Tether's reserves are labelled non-U.S treasury bills, with the following footnote: Non-U.S. treasury bills comprises non-U.S. treasury bills with a maturity of less than 180 days. The LaGeo bonds would be classified as corporate bonds, not treasury bills / government bonds, and would have much longer maturity. 2. The LaGeo bond issuance was announced in early May, the Tether reserve report was as of 31 March. 3. For everyone so caught up in the coincidence of the numbers being the same - they're not. The LaGeo bond was announced as $287 million ($286.7) while that line in Tether's reserves report is $286 million ($286.2)
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May 24, 2022 13:47
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Illuminti posted:Question for the hive. I love when people seriously quote reports like that as proof that crypto isn't used for illegal stuff. They usually like to compare it to something like UNODC's estimate that money laundering accounts for 2-5% of global GDP, which shows they don't even know what these terms mean. If you want to tear it down: 1. That Chainalysis report only looks bottom up at wallets specifically proven to be used for crime. They literally count the cryptocurrency sent and received by wallets identified as associated with criminal activity. Every year they revise the number from the previous year upwards by like 100% as they discover that more of it was actually crime after all. UNODC on the other hand tries to estimate the total amount of crime from a top down perspective. A top down estimate on cryptocurrency would be much higher than 1%. 2. It does not account for the fact that almost all crypto transactions are pure financial trades, and in many cases wash trades. As a percentage of actual purchases of goods or services it would be much, much higher. 3. Much more importantly: Even 1% of transactions is a LUDICROUSLY high share of crime. The comparison with crime as % Global GDP is funny. Global GDP is not the total value of transactions performed with fiat currencies, that number would be many orders of magnitude higher. Just the values transacted in FX trade alone (the equivalent of crypto's financial transactions) is 30-40X higher than global GDP. A single iphone probably generates transactions equal to 100x its GDP contribution. The "global GDP" of cryptocurrency is pretty close to zero. In short, it's just a completely nonsensical comparison. A top down estimate of cryptocurrency crime as a % of cryptocurrency's "global GDP" would probably be over 100%. Or the other way around - a bottom up count of known crime committed in fiat transactions as a % of all fiat transactions would probably be less than 0.001%. Instead: Splicer posted:Ask them what the other 99% is. Elerion fucked around with this message at 14:18 on May 24, 2022 |
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May 24, 2022 14:10
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Elerion posted:Tether is a scam, but that is a nonsense "r/superstonk due diligence"-level theory. lmao that the difference is 500k, which is a pretty round kickback number for someone facilitating a scam.
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May 24, 2022 14:35
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The tether "market cap" is about $73 billion, so $286 million is less than half a percent of it
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May 24, 2022 14:45
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