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PurpleXVI posted:To make it slightly less funny, though, there were apparently also normally-sized silver coins, but because all their coins were their value in metals, and copper was so much less valuable than silver, the copper "coins" became gigantic for the same value.
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Nov 22, 2023 17:19
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https://www.cnbc.com/2023/11/22/whats-next-for-binance-after-doj-settlement-departure-of-changpeng-zhao.htmlquote:
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Nov 22, 2023 19:00
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Collateral Damage posted:This is exactly it. The silver daler was a coin of about 25 grams (0.9 ounce) but Sweden had a silver shortage in the late 17th century so copper had to substitute. Unfortunately the value of copper kept falling so the exchange rate between silver and copper daler became increasingly lopsided and ultimately led to Sweden abandoning a whole bunch of metal-value based coins and establishing a unified currency in 1776. Well maybe if they shut down that f*cking big copper mine up in Falun the price of copper wouldn’t have fallen that quickly.
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Nov 22, 2023 19:57
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were the Electrum coins really tiny?
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Nov 23, 2023 01:16
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Was there some situation where the people in charge only dealt with the more valuable coins so they thought everything was fine until an angry mob crushed them flat with 2 dollars worth of currency?
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Nov 23, 2023 01:18
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At one point Australia was desperately short of currency because the royal mint was a loooong way away by sailing ship. The Governor eventually said "gently caress it" and had the centres punched out of the available coins ordering that the inner disc and outer ring be traded as two seperate coins, to be turned in for replacements once a new shipment of good currency finally arrived.
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Nov 23, 2023 01:34
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The Lone Badger posted:At one point Australia was desperately short of currency because the royal mint was a loooong way away by sailing ship. The Governor eventually said "gently caress it" and had the centres punched out of the available coins ordering that the inner disc and outer ring be traded as two seperate coins, to be turned in for replacements once a new shipment of good currency finally arrived. I thought Australia used sheep as currency. Like, in modern day.
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Nov 23, 2023 02:17
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Using your “girlfriends” as currency is pretty low-class…
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Nov 23, 2023 02:23
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MEIN RAVEN posted:Came to lol about Zhoa, saw I was quoted in a Seraph meltdown post. All in all, 10/10 would post again Lol, I'm at the "Bargaining" phase because I asked for charts. At least I got a cool incomprehensible chart!  Whatever the gently caress this is.
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Nov 23, 2023 02:24
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no ring
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Nov 23, 2023 02:27
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Lammasu posted:I thought Australia used sheep as currency. Like, in modern day. A lot of people get Australia and New Zealand confused.
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Nov 23, 2023 02:32
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CannonFodder posted:Same here! i think its one of those things you shoot at at a target range
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Nov 23, 2023 02:46
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CannonFodder posted:
Not my favorite loss.jpg
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Nov 23, 2023 02:49
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The funniest part of that chart is that of the four relationships he chose to highlight and chart, he chose one that is literally just a definition and can never change and is therefore totally useless to chart.
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Nov 23, 2023 04:49
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biznatchio posted:The funniest part of that chart is that of the four relationships he chose to highlight and chart, he chose one that is literally just a definition and can never change and is therefore totally useless to chart. It's literally "1 BTC = 1 BTC" in chart form
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Nov 23, 2023 05:04
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HappyHippo posted:It's literally "1 BTC = 1 BTC" in chart form I'm not sure I can agree with that assertion though. In my experience 1 BTC = 0 BTC because it just got stolen/lost/rugpulled.
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Nov 23, 2023 05:11
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https://cdn.discordapp.com/attachme...d64bcff8c1c761&
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Nov 23, 2023 05:39
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SRQ posted:if seraph really believed what he said he'd be desperate to stop people from buying more BTC because that devalues his own Maybe, but Crypto is very culty so the urge to prosthelityze is pretty intense.
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Nov 23, 2023 06:29
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Don’t worry this isn’t like FTX because Binance was totally not dipping into customer funds and it hasn’t been desperately dodging calls for an audit because it isn’t drowning in liabilities and thus a $1 billion run on its funds and associated cratering of its mirage of a token won’t ever result in insolvency because it really totally does back up each transaction in actual currency promise.
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Nov 23, 2023 06:50
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MechaCrash posted:Actually, that does make me wonder. If you figure this one out, there’s a bunch of folks on the JPMorgan nickel futures desk who would love to hear from you.
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Nov 23, 2023 07:40
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biznatchio posted:The funniest part of that chart is that of the four relationships he chose to highlight and chart, he chose one that is literally just a definition and can never change and is therefore totally useless to chart. Happy thanksgiving!
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Nov 23, 2023 09:03
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SRQ posted:if seraph really believed what he said he'd be desperate to stop people from buying more BTC because that devalues his own
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Nov 23, 2023 09:04
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 (USER WAS PERMABANNED FOR THIS POST)
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Nov 23, 2023 09:14
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Nov 23, 2023 09:58
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You good man? It's the holidays, you got some people to share them with? I worry sometimes this isn't an act, but for your sake I hope you have a good chuckle, turn off the computer and share in some horrible gluttony.
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Nov 23, 2023 10:51
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The weird thing is Bitcoin value going up is awful for a currency. You don’t want the value changing like that very often. It’s in fact very bad
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Nov 23, 2023 11:14
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Uhhhhh, I really hate to be that guy, but Thanksgiving was in October, you sillies. Buttcoin
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Nov 23, 2023 11:16
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Zopotantor posted:Well maybe if they shut down that f*cking big copper mine up in Falun the price of copper wouldn’t have fallen that quickly. This is pretty much the story over and over of why commodity currencies end up being abandoned in favour of fiat, because the value and supply of a physical substance is subject to externalities beyond what even a powerful government can hope to control.
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Nov 23, 2023 11:20
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Lammasu posted:I thought Australia used sheep as currency. Like, in modern day. We started out using rum.
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Nov 23, 2023 14:58
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Rum has a fine tradition as being currency. The alcohol proof system coming from navy sailors daily payment of rum, with if it not being of at least 100% proof it not being considered valid.
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Nov 23, 2023 15:05
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biznatchio posted:The funniest part of that chart is that of the four relationships he chose to highlight and chart, he chose one that is literally just a definition and can never change and is therefore totally useless to chart.
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Nov 23, 2023 17:38
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tango alpha delta posted:Uhhhhh, I really hate to be that guy, but Thanksgiving was in October, you sillies. And yes, I know how strong emu are, that's why when you take one down in glorious battle, you have a feast.
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Nov 23, 2023 17:58
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CannonFodder posted:Now I want there to be a Thanksgiving in Australia and New Zealand in April. Roast an emu, have a big feast! The emu's name is CZ.
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Nov 23, 2023 18:01
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I got that Coffeezilla guy recommended on Youtube and watched that stuff about Binance. Then for giggles I went to check the Bitcoin price. How in the gently caress is this coin at that that valuation again and not even dropping while a huge exchange is in deep poo poo. 
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Nov 23, 2023 18:43
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Combat Pretzel posted:I got that Coffeezilla guy recommended on Youtube and watched that stuff about Binance. Then for giggles I went to check the Bitcoin price. How in the gently caress is this coin at that that valuation again and not even dropping while a huge exchange is in deep poo poo. because it's all a scam so behind the scenes people are manipulating the prices to help them not lose the money they've extracted from idiots.
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Nov 23, 2023 18:47
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tango alpha delta posted:Uhhhhh, I really hate to be that guy, but Thanksgiving was in October, you sillies. I just realized Squirrel Girl gets two Thanksgivings because he mom is from Canada.
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Nov 23, 2023 19:26
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Combat Pretzel posted:I got that Coffeezilla guy recommended on Youtube and watched that stuff about Binance. Then for giggles I went to check the Bitcoin price. How in the gently caress is this coin at that that valuation again and not even dropping while a huge exchange is in deep poo poo. Because it is largely denominated in tether, and tether has been inflating dramatically (in spite of the nominal value)
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Nov 23, 2023 19:57
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Yeah, the only people running these things are the ones inherently invested in the scam, so it's in their interest to keep up the charade as long as possible.
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Nov 24, 2023 05:26
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dr_rat posted:Rum has a fine tradition as being currency. The alcohol proof system coming from navy sailors daily payment of rum, with if it not being of at least 100% proof it not being considered valid. “Proof” was whether or not it would ignite, which give-or-take stuff like ambient temperature, pressure etc is about 50% ABV They also used to test “Navy” spirits for whether gunpowder would ignite if soaked in them. This happens from about 57% ABV.
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Nov 24, 2023 09:20
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The entire British Empire being fuelled on liquid that was at least 50% ethanol does explain a great deal
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Nov 25, 2023 00:14
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