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Ariong posted:This is the sentiment of an absolute troglodyte. As a crypto enthusiast, I am very familiar with the principles of cryptography, and one of the central principles is that you are much better off adopting a tried-and-tested cryptographic standard than attempting to make your own. Similarly, you are much more likely to go to the moon by investing in a coin designed by experts to be a lucrative investment. Personally, I chose to invest most of my assets into SafeMoon, which if you aren’t aware, is a project designed from the ground-up such that it is technologically impossible for it to be a scam. It can only go up. I’ve been letting that investment mature for a while, I think I’ll go check on it now! Have fun staying poor. 
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Jan 8, 2024 09:54
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It was so technologically impossible for it to be a scam, that when the whole thing appeared to implode in a highly scam-like fashion, it was actually because the backers didn't invest hard enough. 
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Jan 8, 2024 13:12
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Zero One posted:Matt Levine on the Bitcoin ETF I think the jury is out on whether the current fiat value of BTC prices in the anticipated approval of one or more ETFs. I'd suggest it is to some extent, but not fully. I could easily conceive of a world in which it goes up to $50k and beyond. None of that really changes anything about the underlying uselessness of it all, though. All of the arguments against it are just as valid, it just adds new ones of this "institutional interest" that crypto maxis have been crowing about for years isn't validation of Bitcoin, crypto or blockchain as "the thing that will replace X" (which is ridiculous on its face given the aforementioned obsession with the fiat price) but simply that these entities want to provide their customers with exposure to it as if it is a stock - like Levine says. But as said since 95%+ of participants only care about the fiat price, does that even matter?
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Jan 8, 2024 13:25
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Number goes up is the entirety of Crypto. That's all people care about is extraction of ever more fiat using fantasy money crypto tokens. Even that is entirely and wholly gambling.
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Jan 8, 2024 13:35
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CaptainSarcastic posted:
It allows brokerages to make a buck as the middle man selling Bitcoin securities to retail investors, while holding basically zero of the risk because when poo poo goes tits up it's those people's money that disappears, not the brokerage's.
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Jan 8, 2024 14:32
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^^^ This is also the entire premise by which banks have supported Crypto custodial services too. None of them put real investments into crypto. It's "I can make money off you without giving a poo poo about Crypto". That was apparently big Crypto hype in 2018-ish.
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Jan 8, 2024 14:38
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Ariong posted:This is the sentiment of an absolute troglodyte. As a crypto enthusiast, I am very familiar with the principles of cryptography, and one of the central principles is that you are much better off adopting a tried-and-tested cryptographic standard than attempting to make your own. Similarly, you are much more likely to go to the moon by investing in a coin designed by experts to be a lucrative investment. Personally, I chose to invest most of my assets into SafeMoon, which if you aren’t aware, is a project designed from the ground-up such that it is technologically impossible for it to be a scam. It can only go up. I’ve been letting that investment mature for a while, I think I’ll go check on it now! Have fun staying poor. This post is good because I don’t know if they are crazy or have a knack for pretending to be crazy.
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Jan 8, 2024 15:34
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Didn't Bitcoin's price go up because of black market exit scams?
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Jan 8, 2024 15:48
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CaptainSarcastic posted:It still just seems to boil down to a central The Emperor's New Clothes problem. There is no inherent value to anything in crytpo, so it's just a neverending spiral of pretending it does in new and dumber ways. Just because people threw money at a big box of nothing does not mean the nothing has any intrinsic value. And being fair, "oh that's neat you spent all your effort doing that useless thing that is hard to work real business processes around" applies to metallics just as much and it's hard to hedge without them. I'd rather get rid of Bitcoin and metallics but c'est la vie.
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Jan 8, 2024 15:53
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I've been replacing 30% of the flour in my bakery with Coinmeal and no one has yet to notice.
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Jan 8, 2024 16:31
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An idea maybe at best that would be good for game monetization.
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Jan 8, 2024 16:37
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"technologically impossible for it not to be a scam" code is law and no one ever writes buggy computer code that can be exploited well, I'm convinced
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Jan 8, 2024 16:46
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Sickening posted:This post is good because I don’t know if they are crazy or have a knack for pretending to be crazy. That's literally like three different old r/crypto reddit posts combined and proofread to sound less unhinged. The SafeMoon name is the big giveaway.
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Jan 8, 2024 20:59
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I think sometimes about that reddit story of a guy who put his entire life savings and then some into terraluna. Hardly the first of such stories and will definitely not be the last.
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Jan 8, 2024 22:52
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PhazonLink posted:dont engineers or architects have to consider what kind of steel or metal they put with their concrete because over years or decades chemical and other stress things can happen? Yes. Rusting metal will expand and cause concrete to crack.
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Jan 8, 2024 22:59
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tango alpha delta posted:code is law and no one ever writes
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Jan 9, 2024 02:29
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Crypto hype is mostly cargo culting of tech bubble hype and general modern economics, which is already pretty much entirely scams based around getting lots of money for saying the correct buzzwords.
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Jan 9, 2024 06:56
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Ghost Leviathan posted:Crypto hype is mostly cargo culting of tech bubble hype and general modern economics, which is already pretty much entirely scams based around getting lots of money for saying the correct buzzwords. I'm on the blockchain. Must be some zany new drug.
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Jan 9, 2024 12:07
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Just yesterday Bitcoin again followed the stock market and I got to read a bunch of people huffing their own farts trying to imagine reasons for this happening as opposed to "Bitcoin sometimes follows the stock market"
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Jan 9, 2024 13:28
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well played sir. the 3 steps for crypto are 1. buying 2. holding 3. Ariong posted:oh no
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Jan 9, 2024 14:17
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What you're all missing is the substantial value that the financial sector can unlock by having access to criminal proceeds! (I wish that was a joke but it isn't.)
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Jan 9, 2024 20:30
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LOL @ bitcoin
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Jan 9, 2024 22:12
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Cyrano4747 posted:Just google "bittcoin key engraved metal plate buried back yard" and you'll turn up loving hours of reddit posts to read through. there is a function called being a Crypto Custodian. it's so loving hard to store bitcoins securely that you can pay someone to store the coins for you. so this is a well understood financial function. you set up a trust company and store other people's stuff for a small annual fee. prime trust in nevada was one of these. they went broke a few months ago. here's the first day motion (PDF) in their bankruptcy. how the gently caress do you go broke in the business of "hold someone's coins and take a fee for sitting on your rear end"? well if you're prime, you do it by: 1. Engrave the key on a piece of metal. 2. Forget where you put it. they had an ETH wallet. the keys were kept in Trezor hardware wallets. the seed phrases were engraved on steel. $76,367,247.90 of customer ETH went up in smoke. prime worked hard to get the money back! ... by gambling on terra-luna and the anchor protocol. using the client assets they were supposed to be holding in trust. nevada kindly just shut them the gently caress down and inexplicably did not prosecute the thieving shitheads. the first-day motion alone is indictment material. so anyway, crypto
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Jan 10, 2024 00:32
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lol https://twitter.com/SECGov/status/1744837121406349714 lmao
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Jan 10, 2024 01:27
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ahahahahaha
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Jan 10, 2024 01:31
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Man, it's going to be a puzzler to figure out who could be behind the hack. Maybe if they follow the money. But the only way they might be able to do that is if there was an immutable, unchangeable ledger of financial transactions...
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Jan 10, 2024 01:57
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elon will admit it was him followed by 69 laughy cries
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Jan 10, 2024 02:14
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A good post in beer thread:crepeface posted:oh that reminds. here, enjoy some news from the main craft beer magazine down under
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Jan 10, 2024 06:52
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Speaking of (not) going to the moon... (from https://citationneeded.news/issue-48/)
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Jan 10, 2024 07:21
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titty_baby_ posted:A good post in beer thread: lol sure why not
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Jan 10, 2024 08:36
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titty_baby_ posted:A good post in beer thread: I’m no ad wizard but leading with your product makes some eyes roll sounds like intro to bad marketing
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Jan 10, 2024 09:34
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Alan Smithee posted:I’m no ad wizard but leading with your product makes some eyes roll sounds like intro to bad marketing When I read stuff like this from people who don't even sound energetic about the grift it just makes me think they're basically saying "we aren't making enough money from our core business, so we want to exploit the idiots speculating in this". Hardly confidence inspiring, or ethically admirable. Durzel fucked around with this message at 11:28 on Jan 10, 2024 |
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Jan 10, 2024 11:26
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Is the craft beer scene really big in Australia? I know it is in the States.
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Jan 10, 2024 11:26
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Honestly yeah, but we also don't have a lot of tolerance for bullshit so the crypto beer poo poo is 100% failing quickly. I know about a half dozen craft breweries in the larger city region I'm in, and they're great, but there's also been a bunch that start up and go under very quickly, cause they're trying weird or annoying poo poo like membership programs, or the brewery pub requires reservations, etc. If we can't walk in, get a beer, sit down (optional) and have our drink then there's too much loving work to bother.
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Jan 10, 2024 11:30
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bobjr posted:https://x.com/fungerstakingls/status/1745107704450793975?s=46&t=CBKJcBX0BD3U5HgUdsqBtw
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Jan 10, 2024 17:23
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Alan Smithee posted:Not
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Jan 10, 2024 17:33
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How are they going to enforce that? Or is this something different than making an NFT appear as your profile image?
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Jan 10, 2024 17:41
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syntaxfunction posted:Honestly yeah, but we also don't have a lot of tolerance for bullshit so the crypto beer poo poo is 100% failing quickly. so is it all IPAs or does Australia have better style diversity ?
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Jan 10, 2024 17:45
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Impossibly Perfect Sphere posted:How are they going to enforce that? Or is this something different than making an NFT appear as your profile image? Twitter had a thing where a hexagonal profile frame meant that Twitter had verified that the picture was actually owned by the user on the blockchain so basically useless and probably costing them quite a bit to maintain the code
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Jan 10, 2024 17:48
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Impossibly Perfect Sphere posted:How are they going to enforce that? Or is this something different than making an NFT appear as your profile image? There was some special integration that let you set your avatar as an NFT that had some special mechanism to connect to a wallet and copy the jpg from your wallet over to Twitter. https://coinmarketcap.com/academy/article/how-to-add-your-nft-to-twitter Personally I thought saving images to my phone and uploading them worked fine but maybe I'm just not web 3.0 enough.
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