Bitcoin: no angel investors, only Faustian bargains

The Something Awful Forums > Main > General Bullshit > Bitcoin: no angel investors, only Faustian bargains

Seth Pecksniff: May 27, 2004; can't believe shrek is fucking dead. rip to a real one.

an iksar marauder posted:

I like selling enough to recoup the initial investment so everything more is bonus money

i mean isn't this the entire point of investing? to recoup your initial money then get bonus?

I remember when I had excess money so I opened a market account with some money I had in savings... in April 2008 :smith:

It was not fun watching that implode.

# ? Jul 22, 2022 14:45

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# ? May 30, 2024 00:02

davecrazy: Nov 25, 2004; I'm an insufferable shitposter who does not deserve to root for such a good team. Also, this is what Matt Harvey thinks of me and my garbage posting.

r/Superstonk actually has a pinned thread that is basically �this is how stock splits work�. lol.

# ? Jul 22, 2022 14:50

Tunicate: May 15, 2012

Boywhiz88 posted:

https://twitter.com/molly0xFFF/status/1550163763747332097?s=20&t=XCzAA5kNUyDkP3IIS4Oy6g
https://twitter.com/molly0xFFF/status/1550163921176330243?s=20&t=XCzAA5kNUyDkP3IIS4Oy6g

I was only earning ~18x the standard interest rate, how could I have been suspicious?

It�s unfortunate that this isn�t just greed, but also dogshit financial education.

I mean, real banks offer gimmick high yield checking accounts that'll get you 4% interest rates on deposits of a few thousand dollars, it isn't that hard to get one if you want to.

# ? Jul 22, 2022 14:55

evilweasel: Aug 24, 2002

kw0134 posted:

Also posing the question as it originally phrased is wrongly binary, because you can't predict what precisely the peak will be you'll take your profit along the way so that you're realizing gains and reducing your risk (and your profits, to be sure) but you'll still capture a good portion of the value of the move by sizing down as it gets higher. The choice is not "sell everything at an unpredictable peak" and "never sell and ruin your life".

the real thing to realize is that money has diminishing marginal utility. if you're sitting on $45 million of paper gains while you are, uh, not previously a multi-millionare, the change in your life from selling now, right now, sell it now is way, way more than the change from that point to you having $90 million instead. your losses will hurt more than your gains.

of course its going to be hard as hell to pull your money out at that point but you've got to realize that at that point more money is basically a high score but less money has a real impact on your life. well, less money after a certain point, you're probably fine with losing a million or two at that point.

# ? Jul 22, 2022 14:57

SaberToothedPie: Dec 24, 2012; The #RXT REVOLUTION has two words for ya..
SCOOP IT!

he knows...

Eco Warrior Seraph posted:

Sup nerds. I still read these forums from time to time, although it's been about three months since I last checked in on ya'll. Here's an update for anyone who cares:

Seraph news:

-I care far less about money these days (I know, I know, check my privilege), including bitcoin. When it hit 50k, I figured it wouldn't last so I left NYC, and bought a modest one family home in Mass. My wife and I also got a mortgage on a pretty sweet condo in a Mexican ecovillage (found via ecovillage.org) that we stay in fall through spring. I won't lie, this crash does hurt a bit financially, but it's not going to ruin us. What will ruin us (all) is global climate collapse. That's where most of my energy goes these days - more on that in a future post when I have more time.

-I came out as non-binary and the process has been difficult but extremely healing for my psyche. I sometimes cross dress at raves and when amongst people who make me feel comfortable and safe. I like sea animal themes and have a cute whale skirt and glowing jellyfish earrings which I adore. Imagine that!

-I live a sober life now. I no longer touch even alcohol or caffeine (they interfere with my medication), let alone LSD, peyote, psilocybin, molly, or weed, all of which I used to use to self-medicate my pain. I practice mindfulness meditation focused on gratitude and loving-kindness, see my therapist regularly and I'm slowly but surely working through 30 years of trauma related to my gender and abuse (bullying for being a 'sissy') I suffered as a child, which I'm quite sure played a role in my volatile personality and lash-outs on this and other forums!

-My bi-polar is better managed now than it has ever before been in my life, and I'm deeply grateful to be alive and mentally/emotionally healthy.
I donate what I can to children in Ukraine via Unicef and similar organizations as well as orgs which support LGBTQIA+ youth here in the states.

Now, onto business. There's something I've been wanting to say to this forum for awhile, so I'll say it now. I owe you all an apology. Most of my postings over the years here had been needlessly hostile and aggressive. Banning me when I was like that was the right call. I was in pain and taking it out on random strangers. Just because it's through a keyboard doesn't make it right or tolerable. I'm sorry. I'm not looking to get unbanned or anything, I just wanted to get that off my chest.

I hope you're all well - or at least surviving. I know many have lost loved ones, to violence, disease, and now heat. We all know we're living through some pretty drat painful and difficult times. I lost an elder family member to COVID-19 within the past 90 days. I truly hope this proves to be the end of a dark era, the end of a toxic system. It must be, if we don't want it to be the end of our world and species. Capitalism is a disease of the mind, heart, and spirit. Bitcoin doesn't matter if we lose Earth. After all, we cannot eat money.

Take care, and be well.

pretty ironic that crypto is a massive energy sink that will kill us all and its how you bought your eco village condo

# ? Jul 22, 2022 15:04

kw0134: Apr 19, 2003; I buy feet pics🍆

evilweasel posted:

the real thing to realize is that money has diminishing marginal utility. if you're sitting on $45 million of paper gains while you are, uh, not previously a multi-millionare, the change in your life from selling now, right now, sell it now is way, way more than the change from that point to you having $90 million instead. your losses will hurt more than your gains.

of course its going to be hard as hell to pull your money out at that point but you've got to realize that at that point more money is basically a high score but less money has a real impact on your life. well, less money after a certain point, you're probably fine with losing a million or two at that point.

Yeah, there should be a point of satiation, which is why you put in a mechanical plan to take your gains out so if and when it reverses you've locked in the majority of your gains and try to remove your emotions from the equation. We rarely are able to do that because we're not algos programmed by homo economicus and it's really loving hard to not get your head out of the clouds.

# ? Jul 22, 2022 15:14

Betjeman: Jul 14, 2004; Biker, Biker, Biker GROOVE!

SaberToothedPie posted:

pretty ironic that crypto is a massive energy sink that will kill us all and its how you bought your eco village condo

Nothing more environmentally friendly than a second home

# ? Jul 22, 2022 15:23

Squiggle: Sep 29, 2002; I don't think she likes the special sauce, Rick.

Actually it is good that seraph is trying to change

# ? Jul 22, 2022 15:24

tehinternet: Feb 14, 2005; Semantically, "you" is both singular and plural, though syntactically it is always plural. It always takes a verb form that originally marked the word as plural.

Also, there is no plural when the context is an argument with an individual rather than a group. Somfin shouldn't put words in my mouth.

drk posted:

Seraph cashing out at the top and finding some peace in life is the good timeline

I mean yeah, this

Sometimes� good thing� happen?

That felt weird to say in 2022

# ? Jul 22, 2022 15:25

Crust First: May 1, 2013; Wrong lads.

Nah they're still a smug rear end in a top hat trying to preach bullshit where they aren't welcome. You can see in the first post they intend to come back and lecture about the evils of capitalism and nowhere do they say they got rid of all their bitcoin or decry the damage cryptocurrency is doing to the planet. In fact I think there was always some shade of THE REAL ISSUE IS CAPITALISM AND BITCOIN FIXES THIS, so, yeah, can't wait for the same old song and dance if number go up again.

# ? Jul 22, 2022 15:35

Dabir: Nov 10, 2012

I don't have the time or energy to still be mad at someone who's calmed down and stopped being a piece of poo poo and if you think you do, go outside

# ? Jul 22, 2022 15:37

Soapy_Bumslap: Jun 19, 2013; We're gonna need a bigger chode; Grimey Drawer

I choose to take the post 100% seriously, because i'm a huge rube

# ? Jul 22, 2022 15:43

Rectal Death Adept: Jun 20, 2018; by Fluffdaddy

Personally, at least for me, call me crazy, going out on a limb here but I wouldn't try to rehab a poster that was rationalizing loving kids

Do we need to see how AATrek has turned his life around next? Maybe he went vegan

# ? Jul 22, 2022 15:43

kw0134: Apr 19, 2003; I buy feet pics🍆

I can devote a little brainpower call bullshit to a known liar and pedophile when they show up and spin another transparently fake tale to try to redeem themselves in an audience that wants them to go away forever.

# ? Jul 22, 2022 15:47

Professor Shark: May 22, 2012

Sounds like a. Stupid idiot

# ? Jul 22, 2022 15:56

punishedkissinger: Sep 20, 2017

also it seems pretty clear they are still invested in crypto while crying crocodile tears about the environment. of course they also own a second home they have to fly in a jet to reach, but dont worry it's eco friendly!

# ? Jul 22, 2022 15:57

Dynastocles: May 29, 2009; "If you'll excuse me, my dinner time is six o'clock. Only gangsters eat at 9 o'clock, after some bootlegging and a hot game of craps."

Seraph also fishing for additional sympathy points with their ~ i n s p i r i n g ~ story of coming out as nonbinary, as if anyone gives a poo poo.

# ? Jul 22, 2022 16:05

Seven Force: Nov 9, 2005; WARNING!

BOSS IS APPROACHING!!!

SEVEN FORCE

--ACTIONS--

SHITPOSTING

LOVE LOVE DANCING

kw0134 posted:

I can devote a little brainpower call bullshit to a known liar and pedophile when they show up and spin another transparently fake tale to try to redeem themselves in an audience that wants them to go away forever.

# ? Jul 22, 2022 16:11

Blotto_Otter: Aug 16, 2013

Squiggle posted:

Actually it is good that seraph is trying to change

the two most important changes seraph could make to better themself are:
1) get out of bitcoin and crypto completely and forever, because it is terrible for the environment and their mental health
2) stop posting and log off, because we have a wealth of evidence that suggests posting is terrible for their mental health

neither of those changes have occurred. logging back on to brag about how their crypto bought them a new home isn't positive change, it's regression

# ? Jul 22, 2022 16:12

Foo Diddley: Oct 29, 2011; cat

well it's good to know they still got it, when it comes to derailing bitcoin threads

# ? Jul 22, 2022 16:13

Ghost Leviathan: Mar 2, 2017; Exploration is ill-advised.

I know this archetype. True or false, it's the same narcissistic archetype trying to find the right combination of buzzwords to attract approval. That's it. Some clear remaining belief in crypto remains, because narcissists may not be able to believe in humans but they sure can believe in fairy farts.

# ? Jul 22, 2022 16:29

Nessus: Dec 22, 2003; After a Speaker vote, you may be entitled to a valuable coupon or voucher!

Personally I'm glad for them, but they should really sell all their shitcoins because they are wrong livelihood.

# ? Jul 22, 2022 16:33

Eco Warrior Seraph: Jul 22, 2022; by Pragmatica

Blotto_Otter posted:

color me skeptical about a seraph post that apologizes for bad vibes, but doesn�t apologize for or even acknowledge makin� money off an enterprise that is absolutely devastating for the environment

If it wasn't bitcoin it would have been something else. We would have found some hairbrained way to burn those fossil fuels either way. Capitalism is the problem, we can't solve a global systemic problem by targeting one or another reasons we're making GBS threads where we eat.

I have mixed feelings on supporting bitcoin these days, on the one hand it disempowers nation-state governments, which is great, as they're terrible because they all support capitalism. On the other it's horrible for the environment, which is loving terrible.

My feelings on it however don't matter one iota to bitcoin, nor do yours. Bitcoin is a genie out of the bottle and nothing and no one can put it back in while the incentives of wealth generation still exist. In other words, we will use it (and everything else) to suffocate ourselves if we don't abolish crapitalism.

The entire system has to go, yesterday, before it takes us down with it.

E: Namaste

*prayer hands*

Eco Warrior Seraph fucked around with this message at 16:53 on Jul 22, 2022

# ? Jul 22, 2022 16:47

Nessus: Dec 22, 2003; After a Speaker vote, you may be entitled to a valuable coupon or voucher!

Eco Warrior Seraph posted:

If it wasn't bitcoin it would have been something else. We would have found some hairbrained way to burn those fossil fuels either way. Capitalism is the problem, we can't solve a global systemic problem by targeting one or another reasons we're making GBS threads where we eat.

I have mixed feelings on supporting bitcoin these days, on the one hand it disempowers nation-state governments, which is great, as they're terrible. On the other it's horrible for the environment, which is loving terrible. My feelings on it however don't matter one iota to bitcoin, nor do yours. Bitcoin is a genie out of the bottle and nothing and no one can put it back in while the incentives of wealth generation still exist. In other words, we will use it (and everything else) to suffocate ourselves if we don't abolish crapitalism.

The entire system has to go, yesterday, before it takes us down with it.

Abandon wrong livelihood. You are not obligated to be the one who destroys the system.

# ? Jul 22, 2022 16:48

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

Eco Warrior Seraph posted:

We would have found some hairbrained way to burn those fossil fuels either way.

Yeah some hairbrained scheme like heating homes in the winter, cooling homes in the summer, keeping the lights on in a hospital. Might as well torch it to add a log line to a github repository, it's all the same.

# ? Jul 22, 2022 16:50

Eco Warrior Seraph: Jul 22, 2022; by Pragmatica

Serious_Cyclone posted:

Yeah some hairbrained scheme like heating homes in the winter, cooling homes in the summer, keeping the lights on in a hospital. Might as well torch it to add a log line to a github repository, it's all the same.

Video game graphics cards for rich white kids that burn the electricity of a microwave so they can scream slurs down their mics while owning other kids at call of duty, but no one here sees any problem with that.

It's all toxic, through and through. It's not just bitcoin.

(USER WAS PUT ON PROBATION FOR THIS POST)

# ? Jul 22, 2022 16:54

RocketMermaid: Mar 30, 2004; My pronouns are She/Heir.

Eco Warrior Seraph posted:

If it wasn't bitcoin it would have been something else. We would have found some hairbrained way to burn those fossil fuels either way. Capitalism is the problem, we can't solve a global systemic problem by targeting one or another reasons we're making GBS threads where we eat.

I have mixed feelings on supporting bitcoin these days, on the one hand it disempowers nation-state governments, which is great, as they're terrible because they all support capitalism. On the other it's horrible for the environment, which is loving terrible.

My feelings on it however don't matter one iota to bitcoin, nor do yours. Bitcoin is a genie out of the bottle and nothing and no one can put it back in while the incentives of wealth generation still exist. In other words, we will use it (and everything else) to suffocate ourselves if we don't abolish crapitalism.

The entire system has to go, yesterday, before it takes us down with it.

E: Namaste

*prayer hands*

"The entire system is wrong, but please don't target the part that pays for my house, it's not my fault."

# ? Jul 22, 2022 16:54

RocketMermaid: Mar 30, 2004; My pronouns are She/Heir.

Eco Warrior Seraph posted:

Video game graphics cards for rich white kids that burn the electricity of a microwave so they can ~~scream slurs down their mics while owning other kids at call of duty~~ generate Ron Paul funbux

# ? Jul 22, 2022 16:55

Eco Warrior Seraph: Jul 22, 2022; by Pragmatica

RocketMermaid posted:

"The entire system is wrong, but please don't target the part that pays for my house, it's not my fault."

Oh, no, I bought the house outright. Sorry for the misunderstanding. Buttcoin.

Namaste.

*prayer hands*

https://www.cnbc.com/2022/03/03/ukraine-raises-54-million-as-bitcoin-donations-surge-amid-russian-war.html

# ? Jul 22, 2022 16:58

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

Eco Warrior Seraph posted:

Video game graphics cards for rich white kids that burn the electricity of a microwave so they can scream slurs down their mics while owning other kids at call of duty, but no one here sees any problem with that.

It's all toxic, through and through. It's not just bitcoin.

Crypto miners bought 700,000 graphics cards in the first 3 months of 2021, enough to give each of those kids, their parents, and their siblings graphics cards with enough left over to give each of them an additional card or 2 and a few for the family pet. And the kids aren't playing 24/7 with no breaks to eat or sleep or use the bathroom. And three months later, miners commit another equivalent haul of cards to their fleet. And three months after that.

But yeah, it's all the same and the guy in the hotdog suit is right that we're all looking for the guy who did this.

# ? Jul 22, 2022 17:00

Blotto_Otter: Aug 16, 2013

Eco Warrior Seraph posted:

*same dumb bullshit as always*

# ? Jul 22, 2022 17:02

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

It's fine that Nestle pumps a community's water supply into plastic bottles for personal profit, because the community would have just come up with some hairbrained way to use all of that water anyway. It's the dependence on water that's the problem, not Nestle.

# ? Jul 22, 2022 17:02

kw0134: Apr 19, 2003; I buy feet pics🍆

Really the only response to any of Seraph's posts (real or gimmick imposter) is :jerkbag:

because it's all self-fellating nonsense.

# ? Jul 22, 2022 17:03

Eco Warrior Seraph: Jul 22, 2022; by Pragmatica

Serious_Cyclone posted:

Crypto miners bought 700,000 graphics cards in the first 3 months of 2021, enough to give each of those kids, their parents, and their siblings graphics cards with enough left over to give each of them an additional card or 2 and a few for the family pet. And the kids aren't playing 24/7 with no breaks to eat or sleep or use the bathroom. And three months later, miners commit another equivalent haul of cards to their fleet. And three months after that.

But yeah, it's all the same and the guy in the hotdog suit is right that we're all looking for the guy who did this.

gently caress, I didn't know that. Well, I guess if gamers have to go without new graphics cards it's worth Ukraine not having that 60 million USD in bitcoin aid, right?

# ? Jul 22, 2022 17:05

Eco Warrior Seraph: Jul 22, 2022; by Pragmatica

https://twitter.com/Ukraine/status/1497594592438497282

# ? Jul 22, 2022 17:07

Squiggle: Sep 29, 2002; I don't think she likes the special sauce, Rick.

Oh okay nevermind

# ? Jul 22, 2022 17:10

Serious_Cyclone: Oct 25, 2017; I appreciate your patience, this is a tricky maneuver

Eco Warrior Seraph posted:

*more coiner bullshit*

# ? Jul 22, 2022 17:12

ranbo das: Oct 16, 2013

It's impressive it took like two posts for Seraph to lose the new "im zen and in touch with myself" gimmick and return to shitposting rear end in a top hat status.

Looking forward to whatever their next gimmick is, this one is already played out.

# ? Jul 22, 2022 17:13

Strong Sauce: Jul 2, 2003; You know I am not really your father.

wow his life is so at peace he continues to post 100 times in this thread. namaste

# ? Jul 22, 2022 17:13

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# ? May 30, 2024 00:02

Blotto_Otter: Aug 16, 2013

Eco Warrior Seraph posted:

# ? Jul 22, 2022 17:13

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