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Ups_rail posted:um what the gently caress does that mean? I think it’s also saying that the guy used his Mint Mobile phone to do it. Mint Mobile (mm) is a discount phone network mainly used by people who don’t have the kind of money to blow on monkey jpgs that get them into monkey themed parties
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Jun 28, 2022 13:28
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Unperson_47 posted:So how exactly do coiners who bring up the fact that there is a finite supply of Bitcoins internally rationalize the fact that bitcoins can be divided nearly infinitely? Unless this isn't the case and if it isn't, why couldn't they be infinitely dividable in the future? A Bitcoin is made up of 100 million satoshis, but even if you wanted to transfer something as small as just one satoshi, you would still need to pay a transaction fee. In theory, when new mints dry up these transaction fees will be how miners are rewarded for solving new chains. It's all very stupid.
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Jun 28, 2022 13:36
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So CoinFLEX, which paused withdrawals a few days ago, has a plan: https://twitter.com/CoinFLEXdotcom/status/1541543358581116931 quote:Dear CoinFLEX Community, I know that "ponzi" gets thrown around a lot, but this is literally a ponzi. It's taking new deposits to pay back the old depositors. Oh and they're offering 20% APR on the new token! Anyway, the purchasers of this new coin are basically guaranteed to get less than they pay: quote:Proceeds from the repayment of the debt/recovery of assets from the Individual will be converted into USDC. rvUSD holders will be able to convert their tokens into USDC on a pro-rata basis based on the amount of these repayments/recoveries from time to time.
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Jun 28, 2022 13:43
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Kerbtree posted:Oh hey, now we know what’s going on with that guys neighbour. For that one goon that was all "oh just tell them you have a personal issue and don't want to discuss it, you should always maintain good relations with your neighbors so don't say anything that might upset them"? Yeah, this is exactly why that kind of approach doesn't work. When someone is evangelizing for something--whether it's religion, politics, or butts--it's either because they're a fervent true believer, they're neck-deep in some kind of scam and need another mark to help them stay afloat, or both.
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Jun 28, 2022 14:02
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Rotten Red Rod posted:I agree, and I went in knowing that. But I justify it based on the fact that he's now a one-man show with no employees, and seems cognizant of that fact that he really should stay that way. If he has people working under him again I'll peace out. it's less to do with if anyone works under him (although it is good to know no one does), and more to do with not wanting to contribute to the wealth of an anti-union shitbag via ad revenue. Someone needs to rip every episode and upload it somewhere that PJ doesn't see a dime, then I would absolutely listen to it. Rotten Red Rod posted:Gimlet really is a shadow of its former self. It's been on a slow downward path since it was bought by Spotify, and that's accelerated recently. None of their major shows produce shows on a reliable schedule anymore, it's pretty sad. yeah the Test Kitchen thing killed them, there's no dancing around it :/ StrangersInTheNight fucked around with this message at 14:13 on Jun 28, 2022 |
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Jun 28, 2022 14:10
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So this rvUSD is only open to 'Sophisticated Investors' Must have an annual income more than 200k, and a million in assests (not including your house). And the minimum investment is 100k. More tellingly, it's explicitly not open to US residents which just screams "We don't want to give any US regulators cause to look in to this". Also if you dive into the T&C's there's the now standard boiler plate about "Actually our promises are worthless, we can do what we like with this, and you have no recourse".
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Jun 28, 2022 14:13
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Mystery Show on Gimlet had an unsustainable premise but burned white hot for those six episodes. Episode #3 belt buckle is a contender for best ever podcast ep.
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Jun 28, 2022 14:14
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Absolutely love that all of these fake-rear end tokens that claim to be pegged to the US Dollar are explicitly not available to US citizens, for some reason
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Jun 28, 2022 14:17
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Unperson_47 posted:So how exactly do coiners who bring up the fact that there is a finite supply of Bitcoins internally rationalize the fact that bitcoins can be divided nearly infinitely? Unless this isn't the case and if it isn't, why couldn't they be infinitely dividable in the future? It goes to 8 decimals, so not infinite but small enough
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Jun 28, 2022 14:38
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The latest hyped NFT collection just dropped http://itsnothing.xyz/ https://opensea.io/collection/itsnothing-nft
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Jun 28, 2022 14:41
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novamute posted:The latest hyped NFT collection just dropped Lmao NFT's are just speedrunning a lame copy of art history, much like bitcoin is speedrunning a coked out version of financial markets.
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Jun 28, 2022 14:48
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Piggy Smalls posted:Well goons it all came to a head today. Nugen Coin talk here. My neighbor called to let me know she absolutely had to talk to me today. Nugen is about to go live June 30th and I have to do kyc forms so that the coins under my kids aren’t lost. Neighbor can buy the coins from you at current value. Don't worry, I have it from a very reliable source in two days they're going to the moon.
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Jun 28, 2022 14:48
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https://twitter.com/Bitfinexed/status/1530645363790585862 Very confidence inspiring
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Jun 28, 2022 14:53
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novamute posted:The latest hyped NFT collection just dropped I'm the insecure http connection.
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Jun 28, 2022 14:54
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HappyHippo posted:I know that "ponzi" gets thrown around a lot, but this is literally a ponzi. It's taking new deposits to pay back the old depositors. Oh and they're offering 20% APR on the new token! when I say Ponzi, I mean it. crypto, ALL of crypto, is a ponzi scam.
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Jun 28, 2022 14:58
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lazy old sun posted:https://twitter.com/Bitfinexed/status/1530645363790585862 Worth clicking to hear that guy's delivery.
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Jun 28, 2022 15:02
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Mercury_Storm posted:Absolutely love that all of these fake-rear end tokens that claim to be pegged to the US Dollar are explicitly not available to US citizens, for some reason Also that none of them are backed by anything as flimsy or stupid as "an actual US dollar anywhere".
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Jun 28, 2022 15:10
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Piggy Smalls posted:Well goons it all came to a head today. Nugen Coin talk here. My neighbor called to let me know she absolutely had to talk to me today. Nugen is about to go live June 30th and I have to do kyc forms so that the coins under my kids aren’t lost. Your neighbors tapped out all their credit and want to use your identity to borrow more money to throw at the scam. They might be justifying it to themselves by saying that they don't want you to miss out on this amazing thing but those "good" intentions will drop away when they see the SSN of their rear end in a top hat neighbor who ruined their shot at riches as a way to keep from ending up destitute.
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Jun 28, 2022 15:24
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"I need your SSN for a gift"
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Jun 28, 2022 15:36
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Someone posted an article about people short selling Tether a few days ago, question for people who understand finance: would it be possible to lose money doing that? As a stable coin, it’s basically impossible for it to go over $1, but as we’ve seen they can go quite a bit lower. Worst case scenario you’d have to buy it back for $1, which would be the same price you shorted it. There would be fees associated with the short presumably, but if you do a large enough volume it should be easy to make money even if the value only fluctuates by fractions of a penny. From historical charts it seems to fluctuate with the $.99-$1 range all the time, so even if you’re only making $.0025 per, that can add up real quick if you put in millions. And you can repeat it multiple times a day, whenever the value is at a solid $1.
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Jun 28, 2022 15:47
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The Pirate Captain posted:Someone posted an article about people short selling Tether a few days ago, question for people who understand finance: would it be possible to lose money doing that? As a stable coin, it’s basically impossible for it to go over $1, but as we’ve seen they can go quite a bit lower. Worst case scenario you’d have to buy it back for $1, which would be the same price you shorted it. There would be fees associated with the short presumably, but if you do a large enough volume it should be easy to make money even if the value only fluctuates by fractions of a penny. From historical charts it seems to fluctuate with the $.99-$1 range all the time, so even if you’re only making $.0025 per, that can add up real quick if you put in millions. And you can repeat it multiple times a day, whenever the value is at a solid $1. the only way you make serious money on this is using enormous, enormous leverage to magnify your .0025 cent gains into something significant - which magnifies your losses by the same amount it is not impossible for it to go above $1, if there is excess demand. it won't go hugely above 1 - but it can go slightly above 1. and you know who can make it do that? the exchange, working with whales they shared your short and what it takes to liquidate you at with, because everyone in crypto is long crypto so doing anything to short crypto in the crypto ecosystem is a hugely bad idea
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Jun 28, 2022 15:52
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But you can buy shorts that don’t call for like 3 weeks or more. There’s no way an exchange could keep the value above $1 for any serious amount of time even with the whales, and all it would take is a single fluctuation below $1 for your auto traders to liquidate.
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Jun 28, 2022 15:55
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The Pirate Captain posted:But you can buy shorts that don’t call for like 3 weeks or more. There’s no way an exchange could keep the value above $1 for any serious amount of time even with the whales, and all it would take is a single fluctuation below $1 for your auto traders to liquidate. thats not how it works if i short a million tethers, let's say i pay a cent per tether: i pay $10,000. but remember: I owe a million tethers to someone, and that someone wants to make sure i am good for it. so i must also put up margin: collateral, proving i have the funds to go repay you the million tethers. so i need to put up a million dollars (for the tethers) plus some additional security - let's just say it's another penny. so, $10,000. I put up $1.01 million. this is because, hey, maybe at the three week mark tether is at 1.01 so you need more money to buy back the million tethers. but if, during those three weeks, tether goes to 1.01 - i have to put up additional margin because the lender is no longer protected against the price going up another cent. you get liquidated because you don't have enough margin. so the exchange tells a whale "hey, spike the price to 1.02 and we liquidate this guy and seize his $10k". or they just do it themselves with fake trades, and take your money.
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Jun 28, 2022 16:00
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evilweasel posted:thats not how it works I thought you could liquidate a short at any point before the call. So if I have $10mil in the bank and want to short $5mil tether it wouldn’t matter if the price goes up to $1.02 at some point because I have more than enough collateral for that. And hey, if they do manage to get it up that high somehow, I could put another few mill into it at that price and make an easy 2% when it drops back to $1. Or if I’m being even more clever, put in 1 mil originally, wait for the whales to spike the price up to $1.01 to try to spite me, then put in 8 mil at that price. I’ve kept $1mil in reserve to cover any margins.
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Jun 28, 2022 16:07
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Hyrax Attack! posted:Mystery Show on Gimlet had an unsustainable premise but burned white hot for those six episodes. Episode #3 belt buckle is a contender for best ever podcast ep. 100%. If I could bring one pod back from the grave it'd be this one. I listened a few episodes of PJ's Crypto Island and I've enjoyed it. I did sort of follow the drama around his leaving but I never really got a good grasp on it, other than he didn't support their unionization for his own reasons. At least his apology seemed mostly sincere? IDK not going to go to bat for someone I've never even seen a picture of. e: to clarify, not that I care what he looks like, I was just trying to illustrate my extremely-low-level of familiarity with the person
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Jun 28, 2022 16:08
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Every christmas I get gifts for people but demand they give me their bank pin and creditcard numbers or the gifts are getting returned.
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Jun 28, 2022 16:14
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Piggy Smalls posted:Well goons it all came to a head today. Nugen Coin talk here. My neighbor called to let me know she absolutely had to talk to me today. Nugen is about to go live June 30th and I have to do kyc forms so that the coins under my kids aren’t lost. "No, gently caress off" is a complete sentence. Why worry about decorum with this idiot, he doesn't care about your feelings in the matter. In fact he is *actively trying to scam you.* Stop giving him validation. Verdugo fucked around with this message at 16:20 on Jun 28, 2022 |
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Jun 28, 2022 16:17
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neighbor guy: Hold your phone up, tell them you are recording everything they say and do for you lawyer to use in the court case that you are filing against them tomorrow. Or, instead, if you really want to shine them on, tell them you are livestreaming.
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Jun 28, 2022 16:24
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Piggy Smalls posted:Well goons it all came to a head today. Nugen Coin talk here. My neighbor called to let me know she absolutely had to talk to me today. Nugen is about to go live June 30th and I have to do kyc forms so that the coins under my kids aren’t lost. I am now convinced that if Seinfeld were made today, this would be an episode and the neighbor would be Bania.
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Jun 28, 2022 16:27
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There are two big problems with trying to out play crypto by shorting. First, engaging with crypto at all is harmful. You're assisting in the environmental damage and helping out with the human damage that crypto causes even if you're trying to make money on how it's inherently worthless garbage. Don't touch crypto at all and keep the harm to a minimum. Second, crypto markets are more irrational than a meeting of the Crystal Healers for a Flat Earth Committee. Yes, they pyramid will eventually fail and crypto will implode spectacularly. Doesn't mean it's going to happen when you want it to. The day to day behavior is erratic and trying to outguess it is a good way to get burned. And that's assuming that the system is playing fair. There's evidence that the exchanges specifically manipulate the prices to gently caress with the people who put big bets on shorting crypto. They're not playing with real money and can just magic up more whenever they want. You are constrained by reality. Even if you could place big shorts down, they'll spike the price for five minutes just to hurt you. In short, crypto bad. Don't touch it. Don't think you can beat the system. Just sit back and enjoy the fireworks. Verdugo posted:"No, gently caress off" is a complete sentence. Why worry about decorum with this idiot, he doesn't care about your feelings in the matter. In fact he is *actively trying to scam you.* Stop giving him validation. Yeah, I appreciate wanting to keep up some politeness with the neighbors, but that ends when they're actively trying to harm you. Do not tolerate people who are trying to rob you. The informative approach has been tried ("this is a really obvious scam"), the polite turnaway has been tried, now it's time to push back. Random Stranger fucked around with this message at 16:35 on Jun 28, 2022 |
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Jun 28, 2022 16:30
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I bought you this wonderful steak dinner, and you won't eat it just because the restaurant is demanding your childrens' PII before you can get a table.
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Jun 28, 2022 16:30
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Random Stranger posted:In short, crypto bad. Don't touch it. Don't think you can beat the system. Just sit back and enjoy the fireworks. Reminds me of when a guy shorted Axie Inifity's currency because he knew it had been drained of 600m, but lost his money because people kept it afloat for quite a while despite the theft being public knowledge.
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Jun 28, 2022 16:32
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Random Stranger posted:There are two big problems with trying to out play crypto by shorting. First, engaging with crypto at all is harmful. You're assisting in the environmental damage and helping out with the human damage that crypto causes even if you're trying to make money on how it's inherently worthless garbage. Don't touch crypto at all and keep the harm to a minimum. There's an adage in economics that sums up the second part of this argument - "Markets can stay irrational longer than you can stay solvent". Please don't touch the poop.
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Jun 28, 2022 16:37
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Who the gently caress still talks of a "steak dinner"?
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Jun 28, 2022 16:40
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Yeah, I’ve never touched crypto and never will, other than to laugh at how dumb it is. This just struck me as a thing that would be possible, not a thing I would ever do.
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Jun 28, 2022 16:41
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Adolf Glitter posted:Who the gently caress still talks of a "steak dinner"? Boomers
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Jun 28, 2022 16:48
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Tired: Steak Dinners Wired: Ape Dinners
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Jun 28, 2022 17:09
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Scratch Monkey posted:I think it’s also saying that the guy used his Mint Mobile phone to do it. Mint Mobile (mm) is a discount phone network mainly used by people who don’t have the kind of money to blow on monkey jpgs that get them into monkey themed parties Mm means metamask, a popular cryptocurrency/NFT wallet
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Jun 28, 2022 17:35
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Serious_Cyclone posted:I bought you this wonderful steak dinner, and you won't eat it just because the restaurant is demanding your childrens' PII before you can get a table. I know if my neighbor demanded a family member's personal info for any reason--not just for crypto butt scams--my first thought would certainly be "ah jeez, I guess I don't want to upset them though"
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Jun 28, 2022 17:49
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Yeah, wanting your childrens personal details to obviously use in a scam is cause for immediate escalation to "gently caress off, and never speak to me or my family again".
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Jun 28, 2022 17:52
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