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SettingSun posted:
I mean, nothing prevents you from buying one real euro for five euros either.
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Dec 8, 2023 17:29
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Cryptocurrency is all about just trying to be a fiat currency but pretending you aren’t and also a heaping helping of pathetic tech worship
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Dec 8, 2023 17:33
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SettingSun posted:
Stablecoins are supposed to be "stable" by following the value of a fiat currency which isn't known for its volatility, and supposedly also guarantees that there's enough liquidity to cash it out because it won't suddenly balloon or that it won't be a rugpull because it won't collapse. In practice lmao.
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Dec 8, 2023 18:09
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SettingSun posted:
They want to make fiat out of thin air, so the way to is to declare a magic crypto price wonderful and increasing, dump on someone to exchange to stablecoins and then to USD. It's as blatant as it gets that they want to cause inflation on society by printing magic money for themselves.
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Dec 8, 2023 18:26
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So there was no mechanism to do arbitrage between AEUR and Euros? How was it even supposed to remain stable in the first place?
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Dec 9, 2023 07:23
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Ariong posted:So there was no mechanism to do arbitrage between AEUR and Euros? How was it even supposed to remain stable in the first place? The arbitrage happens via giving the stablecoin issuer Euros. They then create AEUR and give it to you to sell. Unless they’re just scamming (truly unlikely). This is very slow, and there is a minimum ‘buy’ usually. Now, you might wonder why wouldn’t the issuer mint ‘fake’ AEUR, sell them and then have it more than covered? Well that would be dishonest. I could be wrong. Quotey fucked around with this message at 07:53 on Dec 9, 2023 |
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Dec 9, 2023 07:50
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CaptainSarcastic posted:Meh, I missed Seraph's latest rear end-showing, but I found the 3O-related dig to be funny. No, darling, you misunderstand. I was explaining how pedestrian the idea of a toaster that didn’t have a touchscreen was. *aristocratic laugh into the seventh circle of hell*
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Dec 9, 2023 13:40
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Honestly? I vaguely want a touchscreen toaster now. I could do with a friendly, glowing screenface smiling down at my indiscriminate 3am breakfast habits as it sends my toasted rye data to Bezos.
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Dec 9, 2023 14:53
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And if seraph had saved his money instead of buying thousands of dollars in accounts for a forum that hates him, he too could have a touchscreen toaster.
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Dec 9, 2023 15:07
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coolusername posted:Honestly? I vaguely want a touchscreen toaster now. I could do with a friendly, glowing screenface smiling down at my indiscriminate 3am breakfast habits as it sends my toasted rye data to Bezos. amazingly the touch screen toaster didn't have wifi. you couldn't actuvate it from miles away or get toast updates on your phone
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Dec 9, 2023 16:22
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A toaster that can't mine Bitcoin and warm food with the heat? What a waste.
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Dec 9, 2023 16:37
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Quotey posted:The arbitrage happens via giving the stablecoin issuer Euros. They then create AEUR and give it to you to sell. Unless they’re just scamming (truly unlikely). This is very slow, and there is a minimum ‘buy’ usually. In this case the market was offering €3 for every €1 the issuer hand in the bank, so the obvious solution would be for the issuer to just mint and sell new tokens until the market price returns to 1:1. Of course the problem here is that the markets werent offering €3 of cash for the stablecoin, they were offering crypto. In order for the issuer to make a profit they would have to sell the crypto for cash, which is getting harder now that the government realizes the blockchain is mostly for crimes. Lotta people are going to find out over the next few years as Binance is being forced to retroactively file Suspicious Activity Reports. And there are going to be a lot of them: U.S. Treasury Announces Largest Settlements in History posted:Binance willfully failed to report well over 100,000 suspicious transactions that it processed as a result of its deficient controls, including transactions involving terrorist organizations, ransomware, child sexual exploitation material, frauds, and scams.
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Dec 9, 2023 16:46
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WithoutTheFezOn posted:You can’t use loans backed by stocks for “daily rich person poo poo” (i.e. spending rather than taking the loaned funds and investing them) without eventually selling some of the stock either. You can. The idea is that you never sell the stock, your heirs inherit - and due to a quirk of the tax code all capital gains are wiped out and you have never paid taxes on those gains while getting the benefit of them via loans. Your heirs sell the shares and pay off the loan.
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Dec 9, 2023 18:19
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evilweasel posted:You can. The idea is that you never sell the stock, your heirs inherit - and due to a quirk of the tax code all capital gains are wiped out and you have never paid taxes on those gains while getting the benefit of them via loans. Your heirs sell the shares and pay off the loan.
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Dec 9, 2023 18:59
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A "quirk" in the tax code
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Dec 9, 2023 19:18
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Early in this thread, the OP admitted the following:Waltzing Along posted:I fail to see why bitcoin is so bad at this point. I get that it could turn out to be bad in the future. But so far goons have been 100% wrong on this one. Anyone willing to sack up and admit that you were wrong and wish you hadn't subscribed to the goonthink? Bitcoin price: $5,500 USD Hashrate: 10,500,000 TH/s Today: Bitcoin price: $44,000 USD Hashrate: 485,000,000 TH/s Facts vs Feelings fucked around with this message at 19:42 on Dec 9, 2023 |
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Dec 9, 2023 19:39
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I had breakfast this morning and now I’m watching Netflix. Bitcoin has never affected my ability to eat or watch tv or buy groceries. It is completely irrelevant to me. seraph please contact New York City’s mental health line at 988 instead of posting in this thread. And Buttcoin
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Dec 9, 2023 19:48
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Doesn't this guy get tired of this? I mean there are so many other things you can do on the internet, like play video games or masturbate. Or if you're feeling particularly adventurous, do both at the same time with Balder's Gate 3.
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Dec 9, 2023 19:50
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Wow Seraph, what a day to randompost and go off your meds. Remember, if you want to post something people care about, think deeply about it, and then....just don't. notwithoutmyanus fucked around with this message at 19:52 on Dec 9, 2023 |
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Dec 9, 2023 19:50
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tango alpha delta posted:I had breakfast this morning and now I’m watching Netflix. Bitcoin has never affected my ability to eat or watch tv or buy groceries. It is completely irrelevant to me. For someone who thinks Bitcoin is irrelevant, you sure post a lot about it ITT. Similarly, about me. Methinks thou dost protest too much.
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Dec 9, 2023 19:51
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Seraph please contact New York City’s mental health line at 988 instead of posting here.
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Dec 9, 2023 19:53
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notwithoutmyanus posted:Wow Seraph, what a day to randompost and go off your meds.
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Dec 9, 2023 19:54
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https://www.youtube.com/watch?v=Aagekf4yaQg
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Dec 9, 2023 19:56
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Seraph, next year will be your fortieth birthday. You are officially too old to be wasting time posting on a forum that you are not welcome on. Please contact New York City’s mental health line at 988 instead of posting here. We cannot help you here. Buttcoin
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Dec 9, 2023 19:59
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tango alpha delta posted:Seraph, next year will be your fortieth birthday. You are officially too old to be wasting time posting on a forum that you are not welcome on. 1. I am not going away 2. You can't place me on ignore effectively The only logical conclusion is for you to stop reading and posting in the Bitcoin threads. If you fail to do that, and continue whining about me here, you are logically inconsistent and self-defeating. (USER WAS PERMABANNED FOR THIS POST)
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Dec 9, 2023 20:01
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Even by my forgiving standards you are very weird.
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Dec 9, 2023 20:01
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You know what would make a wonderful 40th birthday gift to yourself? The Revolution R180S touch screen toaster! Buy it at Amazon today! https://www.amazon.com/Revolution-Cooking-R180-High-Speed-Stainless/dp/B086H69SJ2
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Dec 9, 2023 20:02
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Lumbermouth posted:You know what would make a wonderful 40th birthday gift to yourself? The Revolution R180S touch screen toaster! Buy it at Amazon today!
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Dec 9, 2023 20:02
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Facts vs Feelings posted:I have a NInja Foodi. Why would I need a trad toaster too? I mean you're showing some really faulty think by posting that video. That other people commit crimes has nothing to do with people's ability or willingness to commit crimes with crypto.
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Dec 9, 2023 20:05
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Lammasu posted:I mean you're showing some really faulty think by posting that video. That other people commit crimes has nothing to do with people's ability or willingness to commit crimes with crypto. In the not too distant future you'll look back at posts like these and feel like the silly luddite you are.
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Dec 9, 2023 20:06
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Facts vs Feelings posted:Responding to every post I make definitely sends a strong message that you don't care. Your existence in and of itself, is utterly meaningless. A single breath of fresh air has more value to me. To the thread, to me and otherwise, you serve no purpose in life. I just like trolling the exceptionally off-meds rear end in a top hat you make of yourself because you keep throwing money at the forum.
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Dec 9, 2023 20:07
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notwithoutmyanus posted:Your existence in and of itself, is utterly meaningless. A single breath of fresh air has more value to me. To the thread, to me and otherwise, you serve no purpose in life. I just like trolling your exceptionally off-meds rear end because you keep throwing
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Dec 9, 2023 20:08
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at the forum every 2 accounts.
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Facts vs Feelings posted:Criminals almost always adopt useful new tech before the masses. Weed sellers and pornographers were criminals not so long ago. One of the realities that helped bootstrap Bitcoin in the early days was the enormous difficulty in getting banked if you were running a weed dispensary or producing illicit content. Wait, are you implying money laundering will be made legal?
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Dec 9, 2023 20:09
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Lammasu posted:Wait, are you implying money laundering will be made legal? https://www.chainalysis.com/
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Dec 9, 2023 20:11
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seraph, you chose to be banned from this forum. you chose to make yourself unwelcome here. You chose. You. You are pushing forty. Please get the help you clearly, desperately need. Please contact New York City's mental health support line at 988 instead of posting here. You are wasting everyone's time. buttcoin tango alpha delta fucked around with this message at 20:46 on Dec 9, 2023 |
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Dec 9, 2023 20:23
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Even worse than the money, how long does he spend thinking up new usernames? They're never just a random mashing of the keyboard, you'd think they would be at this point.
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Dec 9, 2023 20:41
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Doctor_Fruitbat posted:Even worse than the money, how long does he spend thinking up new usernames? They're never just a random mashing of the keyboard, you'd think they would be at this point. It's always some kind of angsty name full of projection too, this is no exception. Feelings: Seraph is elated by the market Facts: Seraph is off his meds
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Dec 9, 2023 20:44
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I think his persistence has finally paid off big time, I'm gonna go full buttcoin! BRB calling my 401k
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Dec 9, 2023 20:57
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Facts vs Feelings posted:The only logical conclusion is for you to stop reading and posting in the Bitcoin threads. Bahahahahahahahahaha
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Dec 9, 2023 21:55
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I guess bitcoin is up $5k, my friend keeps exhorting me to invest in it. He can’t explain why, other than ‘the government just keeps printing more money,’ and bitcoin is finite, therefore the dollar will collapse any day now. It’s like the modern day gold standard.
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Dec 9, 2023 22:33
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