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happyhippy posted:12. Our future Captain's of Industry misplacing a decimal point for the fee, and have just gave 9/10 of what they have to another person. 14. Roger “Bitcoin Jesus” Ver renounced his US citizenship in order to avoid a shitload of back taxes but accidentally became stateless in the process (which is a really lovely situation), wanted to re-enter the US in order to attend a bitcoin conference but was denied entry because he had this huge tax bill, so then he paid his enormous tax bill and the US State Dept was like "lol thanks for the money but you're still a shithead and we don't want you to come here, gently caress off" 15. The iOS game that paid people penny shavings of bitcoin to keep playing, and then someone figured out how to get the game to pay out all of its bitcoins at once 16. The bitcoiner who came up with "Paycoin" which was an altcoin that was supposed to be guaranteed to be worth at least $20 per coin. And then when the price crashed and he ran out of money saying "how was this ever even supposed to work? I think that there are some fundamental flaws with the idea behind this altcoin!"
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Jan 21, 2016 08:02
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I remember back when DPR was getting arrested all of the bitcoiners were like "running a drug empire over the internet is harm reduction, it's way safer than having to buy from some seedy guy in an alley!" And then when drug addicts asked them on reddit how to actually acquire bitcoins most of them said "the best way is to use localbitcoins and set up a meeting with some seedy guy in an alley in order to buy bitcoins, which you can then exchange online for drugs." And then it was revealed that DPR gave like $10k worth of free drug vouchers to a recovering heroin addict who promptly blew it all and OD'd, but the bitcoiners were still jumping up and down trying to defend him (HARM REDUCTION HARM REDUCTION HARM REDUCTION) And then mycrimes.txt was released and it was revealed that DPR tried to have a bunch of people killed (and in one case he told the would-be assassin to kill a dude's innocent room mates too, in order to leave no witnesses). To which the bitcoiners replied "ALLEGED hired killings, assuming he's innocent think of all of the harm reduction!" QuarkJets fucked around with this message at 11:46 on Jan 22, 2016 |
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Jan 22, 2016 11:43
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Oh and don't forget the drug addict who ordered a bunch of research chemicals off of Silk Road and one day woke up with paralyzed husks where his arms used to be "arm reduction" -- some genius on yospos I don't know
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Jan 22, 2016 11:45
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SumYungGui posted:Long term; Nothing, because of the built in arms race that is bitcoin mining. It would probably give the few people that have access to it at the start a hilarious advantage if I understand cryptography and super-positional computing properly. Then someone else gets two QuantomCore9000 processors and he has the advantage, so someone else buys ten QuantumCore9000 processors, then someone else.... That's true with regard to bitcoin mining, but quantum computing would also fundamentally break bitcoin. You'd be pretty easily able to compute a private key from any public key, so you'd be able to take whatever bitcoins from any wallet you wanted. People have been thinking of ways to counteract these private-public key vulnerabilities for awhile, but bitcoin is currently still vulnerable to such a thing. But that would require actually having a quantum computer large enough to accomplish this. And it would require using that quantum computer to steal bitcoins instead of using it in countless other, more productive ways.
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Jan 23, 2016 04:22
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Shwqa posted:The confusing part to me is just how easy it is to make a copy cat. Why would any major business/country give complete control to a bunch of idiots? A country would just make butt coin v2 with them being the early adopter. You're still giving them too much credit. A business or a country has no reason to use a bitcoin-like system. All of the potentially desirable qualities of such a system (cryptographically-secure electronic payments, distributed accounting) exist in other forms without the downside of having to burn enough electricity to power a small country in order to run it. A commonly found thing in the YOSPOS thread is that a lot of idiot bitcoiners on reddit think that Satoshi invented cryptography and distributed databases, so to them any payment system that uses cryptography is now just a derivative of bitcoin. A sort of awkward labeling situation has been created where businesses want to appeal to idiot VCs so they'll say that they're adopting blockchain technology when what they really mean is that they're using a distributed database with cryptography to sign transactions, tools that were in use decades before bitcoin ever existed. All of the proof of work bitcoin mining poo poo built on top of a system like this is worthless to a business.
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Jan 23, 2016 20:49
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Are there even counties that have a mandated last call of 10PM? I figured most places were at least midnight or just completely dry
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Jan 25, 2016 05:34
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Hihohe posted:I hear "mining bitcoins" a lot. What does that mean? "Mining bitcoins" is converting electricity into waste heat and a chance at "discovering" the next block. On average someone finds one every 10 minutes, and when they do they win some bitcoins and a chance at processing some queued bitcoin transactions. In order to accomplish the anemic maximum transaction rate of roughly 3 per second, this takes roughly the same amount of electricity that it would take to power the country of Ireland. This is what makes bitcoiners claims of "the next electronic transaction system that's going to surpass Visa!" and "more efficient than modern banking" a bit unrealistic and hilarious. In practice, if you hear about someone "mining bitcoins" then they're probably bad with money (mining hardware tends to have a negative ROI) or stealing electricity or both
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Jan 28, 2016 20:15
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Tenzarin posted:What happens when there are no more bitcoins to mine? Mining is mostly performed by a few guys in China now, who already run at a loss because their real goal is to convert Chinese currency into international currencies. So as long as there's not a more profitable method of doing this, they're probably going to continue mining. Every time that the reward halves there's a chance that some of them will pull the plug, but that probably won't happen willingly anytime soon If the Chinese government decides to crack down on that poo poo for whatever reason then we'll probably see a situation where mining difficulty is too high for the remainder of miners, the so called Frisbee On the Roof. At that point transactions basically won't ever be verified. The developers could manually adjust the difficulty back down, essentially forking the software and requiring everyone to upgrade, but that would require a centralized authority to make a centralized decision and my cognitive dissonance just can't handle that sort of direct contradiction of ideals plus lol at bitcoiners reaching a consensus
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Jan 28, 2016 21:57
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Oberleutnant posted:Couldn't the processing power be used for productive work? Like those @Home distributed computing networks that fold proteins or process astronomical observations, or whatever? Some altcoins had the idea of doing that but they never became popular. And back when CPU and GPU mining was a large fraction of the network, you could have hypothetically changed the algorithm to do something else. But since mining is now down almost entirely by warehouses full of custom-built ASICs, you can't use the processing power behind bitcoin for doing anything except basically the Bitcoin calculation, or some very similar calculation that requires computing sha256 over and over. It's functionally useless. vxskud posted:I'm curious Bitcoin has been described as having had to learn How to Banking the hard way. It's hilarious to watch people in the bitcoin ecosystem go from "yeah, free market! No more banks, no more regulation, no more government!" to "HELP all of my bitcoins were stolen, I filed a police report, maybe someone should create some sort of regulation to prevent this from happening in the future???" Most of them don't even have software experience so they do hilarious things like using floats in accounting software
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Jan 29, 2016 20:26
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Naxuz posted:It's always great to see someone introduced to the mechanism behind Bitcoin for the first time. The reaction is invariably "...why would anyone go through any of this and how can anyone actually believe this is a good idea?" The answer is: Dunning-Krugerrands. Nah this whole banking thing isn't that hard, I'm gonna be my own bank *fat-fingers keyboard and irrecoverably sends all of his bitcoins into a black hole* No problem, no problem, I've got some spare bitcoins on PonziExchange *bitcoin exchange closes, webpage just says "Sorry, we lost all of the bitcoins, no more withdrawals, please stop sending us your money"*
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Jan 30, 2016 22:17
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Molog posted:Cryptsy running all their different coins on the same machine and one of them having an irc backdoor, getting all their money "stolen" and then continuing for another year and a half. This is a totally typical naive libertarian thing to do, too. I completely believe them when they say that they were hoping they'd be able to use profits to refill customer wallets with nobody noticing, it's a completely innocent and childlike thing to do. It also wouldn't surprise me if they wound up getting robbed several more times in that year and a half period Come to think of it, the childish behavior of libertarians is probably why so many of them are pedophiles; they're just looking for an intellectual equal
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Feb 1, 2016 02:21
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This news story is relevant to the Internet of Things and pedophiles, apparently the awesomely-named search engine Shodan lets you search for Internet of Things video streams, so you can go looking for live feeds of kids in classrooms or babies sleeping http://arstechnica.com/security/2016/01/how-to-search-the-internet-of-things-for-photos-of-sleeping-babies/
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Feb 1, 2016 20:12
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The Goatfather posted:you probably should actually use bitcoin instead of this hilarious retarded scheme you've got going on. it's not the hilarious wild west libertarian wasteland it used to be now that the justice department has been cracking down on shady bitcoin operations for a few years If you pay attention, then bitcoin is still a hilarious wild west libertarian wasteland but with a few institutions that have managed to stick around, and several of them are likely to exit scam eventually. An enormous exchange literally closed their doors last month with the typical "hackers took everything" post that accompanies the end of every bitcoin business
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Feb 4, 2016 00:38
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The Goatfather posted:this isn't really even a problem unless you're sitting on a big bitcoin investment (lol) and you keep it in a wallet the exchange controls for some reason That's how an exchange works. If your bitcoins are on an exchange then they're not in a wallet that you control. And yeah it's not a problem so long as you're not trying to extract anything from an exchange that is in the process of shutting down. Sometimes a collapsing exchange just makes a post on reddit about how they're closing, so hopefully you're active in the community
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Feb 4, 2016 02:38
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whoflungpoop posted:lol at the concept of some fervently saltmad nerd itt stopping midway through his scathing condemnation of idiots who buy worthless bytes to buy a SA cert you called people creepy for laughing at the many hilarious situations created by bitcoin
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Feb 5, 2016 01:42
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like when you hear about how the founder of Silk Road kept a diary of all of his crimes on his laptop, or the guy who gave himself heat stroke with bitcoin mining, or all of the bitcoin exchanges that just sort of vanish overnight with nothing but a message like "lol sorry we're closed thanks for all the free coins" how can you not just laugh? It's this community that describes itself as tight-knit on reddit but everyone in it is constantly trying to gently caress everyone else. I loving love bitcoin, I don't think any single thing has provided this much humor for so long
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Feb 5, 2016 01:55
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whoflungpoop posted:the one that occurs at some point during any gbs "x sucks" thread where repetitive insularity and earnest negativity begin to make the posters more hosed up and weird than their topic this is a special case where that's not actually possible
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Feb 5, 2016 05:37
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Slightly Absurd posted:It seems like bitcoins are good if you are: Lots of examples of scamware using bitcoins And there are some good examples of extortionists using bitcoins.
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Feb 7, 2016 03:31
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Luxury Communism posted:Bitcoin is a pretty nifty solution to a crypto-currency engineering problem. Reading Satoshi brings back memories of reading Bram Cohen's talking about the design principles of BitTorrent back in the day. Goons are pretty negative about what is actually a very fascinating novelty imho. A "nifty solution" that consumes more electricity than the country of Ireland for the equivalent processing power of a Nintendo Entertainment System Admittedly though people who proselytize bitcoin are universally terrible, so that's useful. The bitcoin ecosphere has also generated some serious comedy over the years, more than I suspect that libertarians alone could have generated without bitcoin
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Feb 7, 2016 03:42
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I want to use the entirety of the John Galt speech as a key, please implement asap
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Feb 7, 2016 05:25
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Asehujiko posted:According to a future captain of industry hoping to get rich by buying piles of cheap laptops and running Runescape goldfarming bots on them, it's apparently more profitable to sell the gold for buttcoins and cash those out rather than selling the gold directly for €, to the tune of getting about 15% more out of it after the exchange cut. 1) The person wants runescape gold for whatever reason (probably to resell it at a markup) and probably has a lot of bitcoins but not a lot of euros. They're going to lose money exchanging bitcoins for euros, due to middlemen and scammers. So they might actually be saving money by offering a discount in bitcoin 2) "No chargebacks" means that some number of those opportunities are scams, where you send the bitcoins and then you get nothing in return. Like any good scam, the goal is to rope you in by offering a good exchange on a few small deals and then to score a really huge exchange and not actually pay you for it. Offering a discount could be an attempt to lure in good marks
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Feb 7, 2016 23:45
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revmoo posted:Hahaha god no it shouldn't. I don't think that your comparison makes any sense at all
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Feb 24, 2016 20:04
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DEKH posted:That is putting the cart before the horse. A conviction requires proving the crime beyond a reasonable doubt, beginning a murder investigation on the other hand just requires probable cause. The point here being that malicious hacker could implicate you in a crime, forcing you to deal with a felony investigation. Yeah but you could say that of literally any crime, and your argument boils down to "we shouldn't punish or investigate crimes because what if a person gets framed?" There are a billion ways to implicate someone. Receiving "payment" for something is not enough for a guilty verdict QuarkJets fucked around with this message at 00:08 on Feb 25, 2016 |
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Feb 25, 2016 00:06
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DEKH posted:
Then you weren't paying attention to the rest of the discussion, because we were talking about how holding all of the files at a hospital for ransom should be severely punished, and someone said "no it shouldn't be severely punished, what if you're in a swatting situation and the criminals point to your bitcoin address???" It was a completely nonsensical point. It has nothing to do with whether or not it's possible to try and frame someone with bitcoin payments (something that you can easily do without bitcoin) You're also comparing something that just takes a phone call to something that requires a lot of work to set up; finding a victim's bitcoin address, procuring or writing network-infecting encryption ransomware that pays to that victim's address, infecting the network in question. The analogy is poo poo
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Feb 25, 2016 08:31
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revmoo posted:
are you being serious or is this some kind of gimmick where you pretend to be a complete idiot? Do you really believe that we should stop prosecuting crimes that could possibly be pinned on someone else using bitcoins? And do you also really not understand how prosecution in the US works?
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Feb 25, 2016 20:30
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WhyteRyce posted:Two things got brought up today So they said that waiting ten minutes for confirmations doesn't matter because bitcoin should only be used for big purchases. Doesn't that conflict with the idea of using bitcoin for micro transactions? Do I need to pay lights 30 minutes early in order to ensure that they're green by the time that I reach them? But to be fair "doesn't matter" was the correct response to those other questions, because bitcoin doesn't matter
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Feb 27, 2016 05:20
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Snuffman posted:I read about these people that supposedly have "millions" in bitcoins on a harddrive (cause they got in early, when mining was possible on a normal PC?) but I'm confused...what can you actually DO with a bitcoin? Mostly when people say that they "buy things" with bitcoins, what they mean is that they have this long chain of transactions where they trade one thing for another until they eventually get what they want. Sometimes this is relatively short; Purse.io is basically a service where people buy you stuff off of your Amazon wish list and then you pay them bitcoins. Some of the time this is done with a stolen credit card, so you wind up losing the bitcoins (no chargebacks!) and the item (plus you get to spend some time talking to the police). Some of the time this is done with a man in the middle who receives your bitcoins and who tells someone else to buy you your item, and then when that other person never gets paid they justifiably run a chargeback and you wind up with nothing. But to a bitcoiner these are flaws with credit cards, not Purse.io or bitcoin. This was one bitcoiner's idea for how to use bitcoins to buy gasoline: 1) Add a Gamestop Gift Card to your Amazon wish list 2) Go to purse.io and import your Amazon wish list. 3) Find someone on purse.io willing to buy you your Gamestop Gift Card in exchange for bitcoins 4) Go to Gamestop and buy a Shell Station gas card, because apparently Gamestop will let you buy gift cards with gift cards (most stores won't) 5) Go to Shell and use the gas card to buy gas to a bitcoiner, this means that Shell now accepts Bitcoins, so they put Shell on the wiki of "businesses that accept bitcoin" QuarkJets fucked around with this message at 22:03 on Feb 27, 2016 |
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Feb 27, 2016 21:23
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100% chance that Carmant never bothers to actually discuss with the thread, refuses to face the terrifying realization that bitcoin is just a lovely demo of a half-baked idea that doesn't live up to hardly any of the bitcoin community's promises Bitcoin is basically only useful for people who want to buy drugs and child porn on the internet, or who want to more easily scam others
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Feb 28, 2016 01:59
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Hillary Clintons Thong posted:I can do that right now, with cash, legally You also didn't generate your money by converting your parents' electricity into internet pogs, check mate statist 
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Feb 28, 2016 03:58
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NObodiesGeek posted:How do the other alternative coins work? It sounds they're all weighed against bitcoin. If that's the case does that mean if you own dogecoin then you have to trade that for bitcoin and then try to bullshit for money or can you go from dogecoin to bullshit to money? Altcoins are usually just a fork of bitcoin, so like you might change the average time to discover blocks from 10 minutes to 5 or you might decide that you want your coin to be named after a goofy internet dog meme
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Feb 28, 2016 09:51
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What am I going to do without bitcoin?!
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Mar 1, 2016 16:13
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And while the egalitarian open source consensus currency Bitcoin is basically unusable, it also has two forks (Bitcoin XT and Bitcoin Classic) that are getting ddos'd into the dirt. It's always so fun to watch libertarians eating each other while proclaiming their love of nonaggression
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Mar 1, 2016 19:35
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revmoo posted:CJ's are the worst. So drat smug because they're "good with computers" Check out this gaijin, probably hasn't even built a desktop or partitioned a hard drive like the rest of us professionals, what a baka
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Mar 1, 2016 20:03
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iirc there was a reddit thread where some bitcoiner lost thousands of bitcoins and posted to suggest that the NSA had cracked the bitcoin protocol and stolen his bitcoins, since otherwise his system had "perfect security" so there was no way that he had downloaded a virus And then it was revealed that he downloads and runs random executables but it's okay because he frequently runs spybot to remove adware so there's nothing to worry about
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Mar 1, 2016 20:11
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CabaretVoltaire posted:There's no charge backs in Bitcoin - maybe there's bugs that allow people to take their bitcoins back but that doesn't count because it's a known issue that'll get solved eventually when everyone agrees that it's an issue and agrees on a solution. That's actually changed, the developers added the ability to overwrite an old transaction with a new one so long as it isn't confirmed yet. So you could "pay" with a low fee, receive whatever you bought, and then submit a higher fee transaction that redirects the payment back to yourself. And some professor recently published a technique for "burning" bitcoins, which would allow the person holding them effectively run a chargeback. This is intended as an anti-hacking measure, but instead of getting your money back immediately you wind up moving the bitcoins back and forth between you and the thief until one of you gets tired and gives up. Naturally no one would ever use this in a legitimate transaction because
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Mar 2, 2016 21:21
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Gobbeldygook posted:The way to buy bitcoins without linking them to your bank account is Local Bitcoins or google "your city + bitcoin atm" (contrary to goon belief, bitcoin ATMs do not just eat your money and tell you to gently caress off). You don't use it to buy bitcoins from some other dude face to face. You use it to find ATMs or online offers. So someone On The Internet might be offering to sell bitcoins for Moneygram. You go to some place that sends moneygrams, put down a bunch of completely bullshit personal details, send the dude money, he picks up the money and sends you bitcoins. The correct way to use local bitcoins is to show up with a trash bag full of gift cards instead of cash, or possibly a Tactical Club
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Mar 2, 2016 21:23
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Right, there was a desire to let people overwrite old transactions with a higher fee so that you wouldn't be making GBS threads up the blockchain with low-fee never-processed transactions. As with everything Bitcoin, the implemented solution was not fully thought through
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Mar 3, 2016 01:58
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Crack posted:like surely with the volume of cash flowing through someone like a wealthy Chinese or wealthy dealer would try to put someone in a position of veto or at least to try and stop the awful decisions implemented Well, let's think about those groups 1) By "wealthy Chinese" you mean the small group of miners that convert Chinese electricity into effectively-international Bitcoin. But since they're miners, they don't give a poo poo about whether or not transaction processing makes sense, all that they care about is earning bitcoins for discovering blocks. "Replace by fee" (where you can basically easily run a chargeback on any transaction) drives up the average transaction fee. A huge number of unconfirmed transactions drives up the average transaction fee. A process by which you can "burn" bitcoins drives up the average transaction fee. Miners prefer higher fees, so they have no reason to oppose any of this (in fact, they have an incentive to support literally any change that increases fees). WhyteRyce is correct, Bitcoin Classic basically had its design dictated by miners in China. The idea was to increase the block size in order to cram more transactions into a block, which miners would prefer, but they don't want the size to be too big because of bandwidth limitations. So they basically figured out how big the size could be without screwing over the Chinese miners. 2) "Drugs" represents an enormous and diverse group of people. Websites where you can sell bitcoins for drugs have been hilariously inept at security, likely resulting in far more arrests than in a universe where bitcoin never existed. So the wealthiest people in the drug trade who aren't already in jail due to using bitcoin don't want anything to do with bitcoin, since it represents a public ledger of literally every transaction ever, and associating identities to bitcoin addresses isn't actually that hard (unless you hold onto your bitcoins forever and never spend them). Also, bitcoins really only enable the digital sale of drugs, which is hard to do without some sort of pseudo-anonymous currency. This doesn't really help a cocaine manufacturer in Argentina, since their primary problem isn't the sale of drugs but rather the delivery of drugs. It's a way to more easily connect dealers to users, producers don't really give a poo poo so long as they continue to get paid. Some wealthy mega-dealer might care, but they're probably in jail right now or had all of their butts stolen by a drug exchange shutting down and aren't rich anymore
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Mar 3, 2016 04:03
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Crack posted:You make some good points, and I agree mostly, apart from that maybe the operators of the drug markets care a lot more than the dealers themselves and have a vested interest in keeping it stable. Why? They can use literally any cryptocurrency, they don't have to use bitcoin. The same can't be said of the miners
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Mar 3, 2016 07:47
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revmoo posted:It just looks stupid to say stuff like "hahaha Bitcoin can't scale." Well no poo poo it can't. You're not paying attention, because what we say is "hahaha bitcoiners think that bitcoin will replace all other currencies, but it obviously can't scale". We don't really laugh at bitcoin, we laugh at bitcoiners Were you around for the early bitcoin threads back in 2009-2010? Goons weren't laughing about it back then because no one was making pie-in-the-sky promises like they have been since 2012ish. The flaws were known but no one gave a poo poo because bitcoins were worth like a nickel and you could reliably mine them with just a CPU, so it really was just a neat geeky thing. There weren't really any laughs to be had until libertarians pinned all of their hopes and dreams on bitcoin, and then began scamming each other over and over, and then somehow convinced a bunch of idiot VCs to turn BLOCKCHAIN into a buzzword
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Mar 3, 2016 22:56
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