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Amy and I have a thing on bitcoin mining in the crash. It turns out to have been a complicated dumbass scheme, not an ordinary dumbass scheme.
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Aug 4, 2022 20:46
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Unfortunately Hayess (crypto maximalist) is telling people to buy more crypto because I don't know, smartly worded bad financial analysis? https://cryptohayes.medium.com/max-bidding-7a1c56c1cd07 notwithoutmyanus fucked around with this message at 00:32 on Aug 5, 2022 |
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Aug 5, 2022 00:21
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Lol, he just pled guilty to doing financial crimes earlier this year and is still on probation. I'm not reading that novel of a post, but I assume it boils down to "buy crypto"
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Aug 5, 2022 00:52
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https://www.theverge.com/2022/8/4/23292066/instagram-nft-mark-zuckerberg-baseball-card-metaverse Mark Zuckerberg is minting an NFT of his Little League baseball card for some reason Instagram’s expanded NFT support never hit for the cycle Other than “turning up the heat a little bit” on Meta employees who shouldn’t be there and hitting the metaverse runway, Mark Zuckerberg is highlighting Instagram’s expanded NFT support. The founder and CEO took the opportunity of announcing expanded NFT support on Instagram to tell everyone he’s turning his 1992 Little League baseball card into an NFT soon. Why is that important? I couldn’t possibly tell you, but I do know that at age eight, Zuckerberg hit for .920 as a right-handed infielder in Dobbs Ferry, New York. And soon, that information will be backed up with a blockchain entry. quote:Zuck: In honor of expanding digital collectible NFTs to 100 more countries on Instagram and launching new integrations with Coinbase and Dapper, I'm sharing my soon-to-be NFT old little league baseball card, which someone recently found and sent to me... 😂 @mcomicconnect has the backstory on my baseball card 
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Aug 5, 2022 01:12
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So at the end of June, Silvergate Bank had $13.5 billion in customer deposits, $14.5 billion in investments, and $250 million in cash. Assuming a large fraction of their investments consisted of essentially setting their money on fire by lending to Microstrategy and crypto miners and the like, how does this not end really badly? Am I just an idiot who can't read a balance sheet?
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Aug 5, 2022 01:14
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    LOL!
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Aug 5, 2022 01:15
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lol
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Aug 5, 2022 01:16
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LifeSunDeath posted:
This is good for Burntcoin.
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Aug 5, 2022 01:17
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LifeSunDeath posted:LOL!
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Aug 5, 2022 01:19
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I'm sure it was only daisy chained a few times with that wholly professional setup
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Aug 5, 2022 01:21
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Zuck looked like a space alien as a kid too, who knew
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Aug 5, 2022 01:32
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Tiax Rules All posted:So at the end of June, Silvergate Bank had $13.5 billion in customer deposits, $14.5 billion in investments, and $250 million in cash. Assuming a large fraction of their investments consisted of essentially setting their money on fire by lending to Microstrategy and crypto miners and the like, how does this not end really badly? Am I just an idiot who can't read a balance sheet? VERY briefly scanning over their financials, Loans to Microstrategy should be listed under "Loans" and not "Investments." Investments would be purchasing securities. Also looking at page 55 of their most recent financials they seem to have a lot of liquidity. (i.e. cash to cover themselves if they need to cover loan losses). I'm not really used to reading bank financials though. edit: Looks like bitcoin-backed loans are included in the commercial and industrial loans on p46 - about $435 million for the whole loan category. So no telling exactly how much is bitcoin backed, but they probably have cash/equity to cover themselves. moroboshi fucked around with this message at 03:25 on Aug 5, 2022 |
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Aug 5, 2022 02:40
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Strong Sauce posted:https://www.theverge.com/2022/8/4/23292066/instagram-nft-mark-zuckerberg-baseball-card-metaverse
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Aug 5, 2022 03:29
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LifeSunDeath posted:
cd-i zelda: good
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Aug 5, 2022 04:11
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notwithoutmyanus posted:I'm sure it was only daisy chained a few times with that wholly professional setup Yeah, bring on them 1mm2 (AWG18) chinese extension cords. I never get why most of the farms havent proper cabling, not that much more expensive considering GPU prices
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Aug 5, 2022 07:39
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AutismVaccine posted:Yeah, bring on them 1mm2 (AWG18) chinese extension cords. Do you really think someone dumb enough to run a bitcoin mining op would be smart enough to spring for decent cabling? The cheapest cabling is undersized, and the strands are often copper-plated steel. I've bought cheap amazon poo poo and found that the wires were magnetic.
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Aug 5, 2022 07:47
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Dear losers, this will be my weekend.        Have fun staying poor.
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Aug 5, 2022 08:17
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LifeSunDeath posted:
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Aug 5, 2022 08:28
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You don’t even need those books. Bitcoin is always for dummies.
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Aug 5, 2022 08:52
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so those look like gamerock 30 series cards, the frosted plastic rgb thing is kind of distinct. i think those only come in high ends ie 3070s and up but i've personally only seen 3090s of it since they're so idiotically marked up. i'm eyeballing and they're clearly fuckin massive so i think they're either 3080s or 3090s? height of the shortage pricing i would estimate this small 6x rack on the far right: low estimate around 5-10k of electronics assuming they didn't pay much markup which most miners did, and six total gpus connected to the cheapest power supply i've ever loving seen lmao. i think the thermal "solution" was to herd the hot air up into those lil holes which is the most adorably cartoonish thing i've seen lol. i love this picture.
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Aug 5, 2022 09:04
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I can't believe it either.
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Aug 5, 2022 09:06
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PITY BONER posted:Dear losers, this will be my weekend. You ain't gunna need that last one.
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Aug 5, 2022 09:44
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I would blow Dane Cook posted:You ain't gunna need that last one. 
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Aug 5, 2022 10:12
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man looks like a scarecrow for nonces
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Aug 5, 2022 10:27
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I would blow Dane Cook posted:You ain't gunna need that last one. Might need a sex dummy though.
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Aug 5, 2022 12:56
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Prostitutes don't accept crypto, dummy. And have fun becoming poor.
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Aug 5, 2022 16:06
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Remember the sex worker who tried to help that hopeless boy with his Bitporn site and his brain could not compute that she was more successful than him and trying to give him advice, which he angrily rejected/ couldn’t understand?
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Aug 5, 2022 16:11
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LifeSunDeath posted:
Yeah this was probably about 50k worth of poo poo at least lol. If not more depending on when they bought them. 50k is a lowball but I’d guess it’s closer to 75k - 100k
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Aug 5, 2022 16:22
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Professor Shark posted:Remember the sex worker who tried to help that hopeless boy with his Bitporn site and his brain could not compute that she was more successful than him and trying to give him advice, which he angrily rejected/ couldn’t understand? Link??
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Aug 5, 2022 16:25
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Professor Shark posted:Remember the sex worker who tried to help that hopeless boy with his Bitporn site and his brain could not compute that she was more successful than him and trying to give him advice, which he angrily rejected/ couldn’t understand? small butter posted:Link??
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Aug 5, 2022 16:51
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BigBadSteve posted:Prostitutes don't accept crypto, dummy. A lot of sex workers do actually, or used to. Too small time for authorities to give a poo poo about, especially since most sex work services are legal to begin with, but credit card processors/payment apps basically all discriminate against sex work, so for some people it's the best option. Still dumb though
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Aug 5, 2022 16:51
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The Kins posted:I'm pretty sure it was actually some Bitcoiner going to a camgirl forum undercover and trying to sell them on Bitcoin, and being taken to school by people who, it turns out, already had a pretty decent understanding of online commerce. Didn't he also pretend to be a camgirl and immediately give off dude energy to literally everyone
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Aug 5, 2022 17:17
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https://arstechnica.com/gaming/2022/08/indie-devs-outraged-by-unlicensed-game-sales-on-gamestops-nft-market/quote:Indie devs outraged by unlicensed game sales on GameStop’s NFT market quote:Ello ended up selling hundreds of NFTs based on the NiFTy Arcade collection's first three games, making at least 46.7 ETH (worth about $55,000 at the time) from those sales as of July 15. But for at least two of those games—Worm Nom Nom and Galactic Wars—Ello admitted he never sought the necessary permission from the original creators before selling them. There's also evidence that Ello minted and distributed a number of other games through NFT marketplaces without the creators’ permission, including Breakout Hero, Super Disc Box, and Invader Overload, according to Joseph "Lexaloffle" White, the creator of the PICO-8 pixel game engine. quote:"This person didn't contact me to ask me anything. He just took my game and sold it," Madrid-based Galactic Wars creator Borja "Volcano Bytes" de Tena told Ars. "If you want to profit from my work, I think you should at least ask." quote:White said he's "100% focused on getting [unauthorized] games delisted" from GameStop's servers and has filed DMCA takedown requests to that effect with no response thus far. He said he'd also like GameStop to set up some sort of screening process for newly minted NFTs on its marketplace to prevent seemingly irreversible problems like this from happening in the future. Nobody, and I mean nobody, could have seen this coming. At all. Not one bit. Web3 is the future, y'all. Edit: LOL, Gamestop is going to continue being super lovely and losing money from their NFT space and it's going to own so hard when the company eventually collapses.
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Aug 5, 2022 17:39
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I don't believe that anyone is buying NFTs from gamestop. I cannot believe that as a credible claim.
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Aug 5, 2022 18:09
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Wow, an NFT made using poo poo the minter didn't actually own? Color me shocked. Not that I expect things to get to this point, but as I recall, if a judge says the legalese version of "you didn't have the right to do that, take it down," and the minter says "blockchain, I can't," the judge's response would basically be "that sounds like a you problem, figure it out because the poo poo will pile up higher until you get it fixed."
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Aug 5, 2022 18:17
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It's been proven time and time again that most, if not all, of these supposed decentralized systems have a developer backdoor built in anyway.
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Aug 5, 2022 18:20
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The Kins posted:I'm pretty sure it was actually some Bitcoiner going to a camgirl forum undercover and trying to sell them on Bitcoin, and being taken to school by people who, it turns out, already had a pretty decent understanding of online commerce. there were actually a few "crypto dipshit interacts with sex workers to the amusement and/or horror of everyone watching" stories. turns out that "what if porn, but bitcoin" is a pretty easy idea to come up with
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Aug 5, 2022 18:21
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Salt Fish posted:I don't believe that anyone is buying from gamestop. I cannot believe that as a credible claim.
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Aug 5, 2022 18:49
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I am the millions of RGB lights on millions of xxxtreme gamer gpus in poorly ventilated rooms, spinning and churning out fantastical multicolored light shows that nobody will ever see, illuminating only the fact that we have failed as a species.
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Aug 5, 2022 19:06
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Salt Fish posted:I don't believe that anyone is buying NFTs from gamestop. I cannot believe that as a credible claim. I dont see why there would be any less wash trading on a GME NFT market
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Aug 5, 2022 19:22
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