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LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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Betjeman
Jul 14, 2004

Biker, Biker, Biker GROOVE!

https://www.theguardian.com/world/2016/jul/16/indian-businessman-famed-for-240000-gold-shirt-beaten-to-death

LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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ymgve
Jan 2, 2004


:dukedog:
Offensive Clock

quote:

The government military seized all of our belongings, including the materials in our home. They even sold our doors, water pipes, etc ... I often think it would have been a completely different situation if we had saved our wealth in Bitcoin."

Your heard it here first, you can now make homes, doors and water pipes out of pure bitcoin

LaughchainGoesBrr
Dec 13, 2023
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Strategic Tea
Sep 1, 2012

Pretty girl, beware of this heart of gold

This heart is cold

He loves only gooooold

Oooonly gooooold

LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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(USER WAS PUT ON PROBATION FOR THIS POST)

Pirate Radar
Apr 18, 2008

You're not my Ruthie!
You're not my Debbie!
You're not my Sherry!

small butter posted:

Thanks. It's probably not original and I think I've heard this argument stated slightly differently before.

But I think it's a good one because it's not even trying to argue the morality of bitcoin, just demonstrating that it's mathematically impossible for it to be anything other than a poo poo investment for the average investor. Even worse for the median investor! Like, it's quite literally guaranteed in the formula:

bitcoin investment return = principal - miners' fees - exchange fees - hacks - scams - oops, forgot my password

There is no way for bitcoin to return anything more than the sum of its parts, which is simply other people's money. Me mentioning biotech was not just an aside - consider the difference in value creation. A successful biotech investment uses money to fund people doing research, whose knowledge generates a new therapeutic that tangibly benefits mankind, and the sale of this therapeutic goes back to the investors. We can argue about the morality of this, but something gets created that benefits people regardless, and it's more than the sum of its parts.

Yeah, this is the issue I’ve been turning around in my head whenever bitcoin comes up. I’m not saying it’s the only financial instrument that’s like this or whatever, but the lack of connection between the coin and anything else like a company or a piece of land or whatever means that all the actual value you can get from bitcoin when you cash out is just money you got from someone else—someone who’s selling or buying at the wrong time, basically. The goal is to be better than other people at predicting this unpredictable market. So of course they always need new people to get into crypto and put their money into the system; that’s the only way anybody makes any money.

LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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Betjeman
Jul 14, 2004

Biker, Biker, Biker GROOVE!
:yaycloud:

Betjeman fucked around with this message at 12:45 on Dec 13, 2023

LaughchainGoesBrr
Dec 13, 2023
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coolusername
Aug 23, 2011

cooltitletext

CaptainSarcastic posted:

Could I ask a favor? I know it's always fun when Seraph shows up, but I think just ignoring him until we can ban him is probably a reasonable policy at this point.

I'm not going to probe for it or anything, but he is a clearly unwell person, and it starts to get to an uncomfortable point when it ends being bashing a mentally ill person. Even if he's terrible.

Let him shout into the void for a while and maybe it will slow his current rereg frenzy.

I know it looks like generic funny meltdown buttcoin posting, but the religious allusions and stuff he’s saying is actually p. Distinct and concerning in a worsening mental health crisis kind of way. it’d be nice if we stuck to laughing and posting about the maaany scammers and wankers, and not taking easy dunks on a genuinely unwell guy :therapy:

LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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coolusername
Aug 23, 2011

cooltitletext
That genuinely sucks, as someone who’s been there and done that. If you don’t have another mental health support person, please make sure to keep in touch with your irl friends and family, okay? Not with goons, with people who care for you beyond the psuedoanon posting. And seriously, there’s no shame in hitting up a crisis line if you feel out of control while waiting for her to return.

You’re going to get banned (soon, I imagine) because you violated the rules and the permanent requests to stay out. They’re because people don’t want you here. And look, mate, I realise the incredible impossible unlikelihood of you listening to me but in case there’s anyone else also feeling it - wouldn’t it be better for you to be around the people who care about you while you wait for your therapist, and not the ones who view you as a circus clown? Even if you think you’re somehow winning this and preaching truth to power, it’s the holidays. Take a break, use that rereg budget for holiday gifts instead of wasting your time with us broke bitches and make sure you have your therapist appointment booked for her return.

LaughchainGoesBrr
Dec 13, 2023
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Jean-Paul Shartre
Jan 16, 2015

this sentence no verb


Anyone said “buttcoin” recently? Anyone?

LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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coolusername
Aug 23, 2011

cooltitletext
Hey, like I said, I knew it’d be impossible to get through to you while you’re here in this way. But I’m sincere when I say I hope you get your therapist back and some general stability. I won’t be responding to you again since; y’know, the whole mean girls vibe it brings to laughing at you vs the scammers and co. That was my piece.

Jean-Paul Shartre posted:

Anyone said “buttcoin” recently? Anyone?

Has anyone made an ‘ironic but selling it for actual money bro’ buttcoin-coin? I feel like there’s gotta be one.

LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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LaughchainGoesBrr
Dec 13, 2023
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Mooseontheloose
May 13, 2003

Pirate Radar posted:

I’m not saying I know exactly how much you need to make your own country but I’m sure $20 million is nowhere near enough.

The tiny nation of Tuvalu's GDP is around $40 to $70 million and 11,000 plus people.

So what I am saying is, you are exactly correct because Tuvalu actually provides goods and services and not just internet pogs.

Collateral Damage
Jun 13, 2009

coolusername posted:

Has anyone made an ‘ironic but selling it for actual money bro’ buttcoin-coin? I feel like there’s gotta be one.
Dogecoin started out as a joke iirc.

LaughchainGoesBrr
Dec 13, 2023
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BigBadSteve
Apr 29, 2009

Pro-tip: Whenever you see a new Seraph post ITT, immediately report then use the Ignore function. That deprives him of the attention he comes here for, and makes the page look a whole lot less poo poo-clogged. Also, suggesting therapy is an utter waste of time, he's a self-satisfied greed-obsessed idiot narcissist. Just report/Ignore.

AutismVaccine
Feb 26, 2017


SPECIAL NEEDS
SQUAD


Nah, just take it easy. It is only some stuff on the internet. Scroll past it or chuckle at a few memes.

It is the buttcoin thread, there is not much to take seriously anyway.

Betjeman
Jul 14, 2004

Biker, Biker, Biker GROOVE!
If bitcoin's endgame is to replace currency across the world, how does that fit in with the non-fixed nature of the rest of the world's resources? A return to scrips and bartering chickens for broccoli?

Or would nations just invent their own internal currency and use that as legal tender, initially coupled to bitcoin and set free when that became inconvenient? Before the most stable and productive of those currencies became more lucrative for other countries to hold than bitcoin...

Maybe we've been here before

titty_baby_
Nov 11, 2015


Gold is hard, but not impossible, to program

BigBadSteve
Apr 29, 2009

titty_baby_ posted:

Gold is hard, but not impossible, to program

:lol: at Bitcoin being "easily transactable", with its 7 transactions per second worldwide limit.

titty_baby_
Nov 11, 2015

I actually thought bitcoin was difficult to program as any sort of deviation requires independent mass adoption since there's no central authority to force it

Random Stranger
Nov 27, 2009



titty_baby_ posted:

Gold is hard, but not impossible, to program

Thinking of my solid gold logic gates...

cruft
Oct 25, 2007

Betjeman posted:

the non-fixed nature of the rest of the world's resources

Hi, science background here, is this a commonly-held economic belief? I feel like it is. How does this work, in economics? From my perspective, it seems to assume the earth has infinite mass.

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SettingSun
Aug 10, 2013

If it were possible I'm sure the bitcoiners would consume the entire world's resources to produce electricity to produce more bitcoin. Except the resources that go to make videogames or other luxuries they like.

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