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Collateral Damage
Jun 13, 2009

Apparently some guys went around the CHAZ and tried to convince other people and vendors that they should make bitcoin their official currency. I'm not sure there's a whole lot of overlap in the venn diagram between the people there and bitcoiners.

Collateral Damage fucked around with this message at 17:53 on Jun 12, 2020

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Collateral Damage
Jun 13, 2009

https://twitter.com/Irongear71/status/1271589904200413184

This is good for Bitcoin because... *rolls dice*

Collateral Damage
Jun 13, 2009

Nothing has real value until sold.

When are you selling your coins, Ghost Titty?

Collateral Damage
Jun 13, 2009

You didn't answer my question.

Collateral Damage fucked around with this message at 10:22 on Jul 26, 2020

Collateral Damage
Jun 13, 2009

Vesi posted:

this diagram explains defi pretty well



each transition is another scam
This looks like something generated by a neural network trained on PowerPoint presentations.

Collateral Damage
Jun 13, 2009

CaptainSarcastic posted:

In Soviet Russia, Bitcoin mines you! I don't even know, it just seemed obligatory.

Also, this is good for Bitcoin because...
Someone with an airgapped box who isn't afraid of observing the poop, tell me how many of these have already been posted on bitcoin forums.

"... it shows they are afraid of bitcoin."
"... Bitcoin is anonymous and decentralized and can't be banned."
"... this is the step before winning."
"... Russia is an unimportant market anyway."
"... Streisand effect!"
"... all mainstream media news about bitcoin are good news!"

Collateral Damage
Jun 13, 2009

Slumpy posted:

thread boils down to: people use currency for crime
The important difference is most currencies are mainly used for legitimate purposes and occasionally for crime.

For Bitcoin it's the other way around.

Collateral Damage
Jun 13, 2009

We've got a live one, people.

Collateral Damage
Jun 13, 2009

Slumpy posted:

you have junkies in your gang tag so i'm not sure if I should trust you anywhere near my bitcoin nor my children tbh
:jerkbag:

Veni Vidi Ameche! posted:

Also, most currencies are currencies, which bitcoin emphatically is not.
I didn't claim bitcoin was, but yes that is also an important difference.

Collateral Damage
Jun 13, 2009

YouTube on mobile is giving me ads about investing in Bitcoin because "The halvening is coming" :rolleyes:

Collateral Damage
Jun 13, 2009

At what point are you cashing out?

Collateral Damage
Jun 13, 2009

You keep showing all these charts showing how bitcoin is going up uP UP.

When are you going to take advantage of it? Like are you looking to buy a house eventually? A car? Or for retirement?

Or do you intend to keep your supposed gains entirely theoretical and eventually die content in the knowledge that "arbitrary number was big"?

Collateral Damage
Jun 13, 2009

Ghost Leviathan posted:

Seems good enough for humanity's ruling class
Just another thing that bitcoin is cargo culting.

Collateral Damage
Jun 13, 2009

At one of my previous jobs at a fund manager we'd get million dollar buy/sell orders via fax and the only verification was checking the sender's name/number at the top of the page matched what we had on file for that client.

You know the freetext string you configure in your fax machine software...

Collateral Damage
Jun 13, 2009

PayPal: If you use our service to take payment for drawing cartoon titties we'll ban you and seize your money.
Also PayPal: Hey everyone, use our service to exchange currency mainly used for drugs and child porn.

Collateral Damage
Jun 13, 2009

Maybe the idea is that bitcoin can only go up uP UP so having a collateral in bitcoin means you would make more money on collecting the collateral than having the house returned.

Collateral Damage
Jun 13, 2009

It's almost as if bitcoiners don't understand why a deflationary currency is a bad thing. :v:

Collateral Damage
Jun 13, 2009

Number doesn't matter if you never realize that number.

Collateral Damage
Jun 13, 2009

I just invested in CDCoin. It's my own virtual currency. I got in on the ground floor and one coin was randomly handed out for free and I gave it to myself. The thing with CDCoin is the there will only ever be one of them, it's the ultimate deflationary currency. Right now I've valued it at five million dollars per coin but it goes up Up UP all the time!

Collateral Damage
Jun 13, 2009

I know this song.

Collateral Damage
Jun 13, 2009

It's funny how the fools in this thread never actually post any content, it's just drive-by dropping of lovely charts and links.

So a genuine questions for the coiners: How much do you actually use bitcoin, as in spend bitcoin to acquire tangible goods and/or services?

Collateral Damage
Jun 13, 2009

My favorite coiner argument is that because hyperinflation is bad any inflation is bad and deflation is good.

Collateral Damage
Jun 13, 2009

Here's a graph that ghost titty didn't post. You can tell because it's clearly labeled and understandable.

Collateral Damage
Jun 13, 2009

Nessus posted:

Being incredibly loving lazy and expecting someone else to do all the work is the hot new trend in politics AND economics.
Be the middle man! You don't need to do anything, just take a cut of someone else's work and call it facilitating.

Collateral Damage
Jun 13, 2009

So what's stopping someone from just flooding the blockchain with bogus NFTs to make bitcoin even more cumbersome to use?

... asking for a friend.

Collateral Damage
Jun 13, 2009

ymgve posted:

Just fyi, all this nft action happens on the ethereum blockchain, so bitcoin isnt involved this time
Oh right. Well, same same.

I've seen a lot of worry on Twitter about people tagging NFT generators on people's content and creating tokens for themselves, but if I understand this correctly, isn't NFT in this case basically like going into a gallery and slapping a post-it with your signature over the artist's? Unless they've agreed that a scribbled post-it is proof of ownership, nobody is going to care about it?

Collateral Damage
Jun 13, 2009

DLC Inc posted:

only just read about beeple's 6 million loving dollar sale and his NFT poo poo and it all sounds like psychobable. Who the gently caress are these people who pay millions for these blockchain "tokenized" tweets? like what the gently caress?????
Nobody is putting 6 million real dollars into this garbage. It's all ethereum getting moved about.

Collateral Damage
Jun 13, 2009

You're monetizing post-its that have a hyperlink scribbled on them.

Collateral Damage
Jun 13, 2009

As if these fucks ever shared anything.

Collateral Damage
Jun 13, 2009

twerking on the railroad posted:

Is it that cashing out that much eth would crash the market or that it would crash the b20 thing?
Even trying to cash out a fraction of $69m would collapse ethereum and probably bring bitcoin down with it.

Which is to say the seller should definitely do it.

Collateral Damage
Jun 13, 2009

Lol Ethereum.

"Bitcoin's number is big! Our number is less big. We must force deflation to make number bigger!"

Collateral Damage
Jun 13, 2009

The rise of socialism will come when we drag the crypto mining bourgeoisie to the gallows and redistribute the GPUs to the gaming proletariat.

Collateral Damage
Jun 13, 2009

If you could have seen ten years into the future in 2011 there are still better things you could have invested in than Bitcoin.

I will believe that bitcoin has a fraction of the value its proponents claims when someone shows proof that they've cashed out multiple million dollars worth of it into real money. Not traded for a house from some other bitcoin sucker, not traded for another crypto, but actually gone through a bitcoin exchange and traded 1000 bitcoins for 60 million US dollars (or whatever they claim it's worth) in their bank account.

Collateral Damage
Jun 13, 2009

Nitrousoxide posted:

I mean, if it’s supposed to be a medium of exchange then the ability to trade it for another medium of exchange doesn’t indicate it has value. It’s the ability to trade it for goods or services. The examples you gave there would actually be good examples for why it’s an effective medium of exchange if people actually use it for that. You don’t say the euro doesn’t have value unless it’s able to be exchanged with a US dollar. You say it has value because people are able to use it to buy cheese or cars.
I'm not saying bitcoin isn't a medium of exchange, I'm saying it's grossly overvalued and there's no way you'd be able to cash out 1000 bitcoins into real money without popping the bubble.

Collateral Damage
Jun 13, 2009

Megillah Gorilla posted:

I wonder how many more times they're going to reregister and get banned over the next 100 pages.

I'm going to guess at least twice.
Playing the safe bets I see.

Collateral Damage
Jun 13, 2009

ephex posted:

I am an honorably discharged veteran.

I have a degree in History. I also have a degree in Political Science. I also have a Master's. I'm almost done with my Ph.D.

I have worked for over 30 years in a role of public service.

I find nothing; absolutely nothing, "LOL" about Bitcoin.
Source your quotes.

Collateral Damage
Jun 13, 2009

I have no academic accomplishes but I've learned enough computer touching on my own and through work experience to make a comfortable living and let me tell you that cryptocurrencies are a barrel of laughs.

Collateral Damage
Jun 13, 2009

Gullwing doors have always been terrible and there are good reasons they only show up about once a decade, promoted by someone who thinks they're more clever than the last guy who tried them. Inevitably people are painfully reminded why they're terrible and they get quietly tossed back onto the garbage pile of dead end technologies.

I will give Tesla credit for being a much needed kick in the rear end for the automotive industry as a whole, which for ages hid behind "The technology isn't there / there's no market / people aren't willing to pay for it" excuses for why they wouldn't make an EV that could actually compete with gas/diesel cars instead of half-assed hybrids like the Prius or glorified mobility scooters like the Ford Think.

Collateral Damage
Jun 13, 2009

https://www.vice.com/en/article/pkdj79/peoples-expensive-nfts-keep-vanishing-this-is-why

Scams upon scams.

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Collateral Damage
Jun 13, 2009

hbag posted:

god no i need something to stimulate my lizard brain with "number go up" or ill be hanging on by a loving thread mentally
Just stuff your money in a mutual fund. Number go up, you're not destroying the environment, and your money gets managed by actual adults.

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