http://grondilu.freeshell.org/bitcoin-flag-continuous.gifhttp://25.media.tumblr.com/tumblr_lo1589zT6p1qdia8mo1_500.jpghttp://grondilu.freeshell.org/bitcoin-flag-continuous.gif
― ╔囧╗╔囧╝╚囧╝╚囧╗╔囧╗ (am0n), Tuesday, 20 November 2012 17:31 (eleven years ago) link
want some
― Author ~ Coach ~ Goddess (s1ocki), Tuesday, 20 November 2012 17:38 (eleven years ago) link
http://i.imgur.com/hVghq.jpg
― ( ͡° ͜ʖ ͡°) (diamonddave85), Tuesday, 20 November 2012 17:52 (eleven years ago) link
lol at this battlestation http://25.media.tumblr.com/tumblr_m0qxuvDOYy1qfy0bho1_500.png
― ( ͡° ͜ʖ ͡°) (diamonddave85), Tuesday, 20 November 2012 17:55 (eleven years ago) link
Bitcoins
― Dermot O'Leary, picks up the rice in a church where a wedding has been (snoball), Tuesday, 20 November 2012 18:03 (eleven years ago) link
thats the clearnet thread, this is deepweb
― ╔囧╗╔囧╝╚囧╝╚囧╗╔囧╗ (am0n), Tuesday, 20 November 2012 21:32 (eleven years ago) link
http://www.investitwisely.com/wordpress/wp-content/uploads/2011/06/bitcoin-heist.jpg
http://25.media.tumblr.com/tumblr_m81tz780071qfrvjzo1_r1_500.png
― a mí me dijo quihubo, naco (wolves lacan), Wednesday, 21 November 2012 02:33 (eleven years ago) link
http://i.imgur.com/wSByl.png
― ( ͡° ͜ʖ ͡°) (diamonddave85), Wednesday, 21 November 2012 02:38 (eleven years ago) link
http://i.minus.com/ibe8OuoRWHFbfv.jpg
― bnw, Wednesday, 21 November 2012 02:45 (eleven years ago) link
http://cdn3.sbnation.com/entry_photo_images/5042620/bitcoin_lead_large_verge_medium_landscape.png
― paula boradwell (crüt), Wednesday, 21 November 2012 02:55 (eleven years ago) link
http://www.geekosystem.com/wp-content/uploads/2012/09/bitcoinburglary_550.jpg
http://www.ethlife.ethz.ch/archive_articles/120924_Neuer_Globe_Bitcoin_fw/Bitcoin_l.jpg?hires
― a mí me dijo quihubo, naco (wolves lacan), Wednesday, 21 November 2012 17:29 (eleven years ago) link
LOOK OUT
― Author ~ Coach ~ Goddess (s1ocki), Wednesday, 21 November 2012 18:14 (eleven years ago) link
didn't know Spawn lived in the deep web
― paula boradwell (crüt), Wednesday, 21 November 2012 18:15 (eleven years ago) link
You two knock it off up there, i'm studying!
― pplains, Wednesday, 21 November 2012 18:27 (eleven years ago) link
http://blockchain.info/block-index/322335/000000000000048b95347e83192f69cf0366076336c639f9b7228e9ba171342e
― ( ͡° ͜ʖ ͡°) (diamonddave85), Wednesday, 28 November 2012 18:03 (eleven years ago) link
fun
― Author ~ Coach ~ Goddess (s1ocki), Wednesday, 28 November 2012 18:04 (eleven years ago) link
http://i.imgur.com/9o73J.png
― ( ͡° ͜ʖ ͡°) (diamonddave85), Wednesday, 5 December 2012 20:53 (eleven years ago) link
*clicks insistently*
― Author ~ Coach ~ Goddess (s1ocki), Wednesday, 5 December 2012 20:56 (eleven years ago) link
http://i.imgur.com/WxTzp.jpg
― ❏❐❑❒ (gr8080), Wednesday, 5 December 2012 21:28 (eleven years ago) link
is that what a typical bitcoiner looks like
― Author ~ Coach ~ Goddess (s1ocki), Wednesday, 5 December 2012 23:34 (eleven years ago) link
looks a little bit like the what you need, when you need it girl
― Spectrum, Thursday, 6 December 2012 02:52 (eleven years ago) link
http://bitcoinmedia.com/uploads/2012/04/pyramid.png
― wolves lacan, Thursday, 6 December 2012 02:54 (eleven years ago) link
http://t2.gstatic.com/images?q=tbn:ANd9GcRfha_i2oyFu5MJvOsQ4Ov15zGf9B1b9JJiygyfivj-kyNEd1eSEWC31_aWVg
― wolves lacan, Thursday, 6 December 2012 02:55 (eleven years ago) link
http://www.queencleopatra.co.uk/wp-content/uploads/2012/10/Bitcoin_4__final_cmyk-150x150.jpg
― pplains, Thursday, 6 December 2012 03:03 (eleven years ago) link
http://i.imgur.com/U6fBu.gif
― ✧ (am0n), Tuesday, 18 December 2012 18:42 (eleven years ago) link
amon, that gif is beautiful.
http://austincut.com/media/files/2012/01/bitcoin-silk-road-469x400.png
― v impressive thing in css (wolves lacan), Wednesday, 19 December 2012 01:27 (eleven years ago) link
Amazon Coins
― Brakhage, Wednesday, 6 February 2013 17:40 (eleven years ago) link
so dumb
― zero dark (s1ocki), Wednesday, 6 February 2013 17:44 (eleven years ago) link
ha its like buying a gift certificate for yourself
― ☏ (am0n), Wednesday, 6 February 2013 17:55 (eleven years ago) link
love how amazon is like, this is an easy way for our customers to buy things
― zero dark (s1ocki), Wednesday, 6 February 2013 18:13 (eleven years ago) link
... here at the Amazon Appstore for Android on Kindle Fire.
― pplains, Wednesday, 6 February 2013 18:23 (eleven years ago) link
if you don't have your own virtual currency you likely don't exist on the internet.
ilx¢oin$
― very impressive thing in css (wolves lacan), Wednesday, 6 February 2013 18:41 (eleven years ago) link
just keep thinking about the Playstation online store thing where I keep getting email messages monthly reminding me I have a balance
the balance is one cent
― mh, Thursday, 7 February 2013 03:55 (eleven years ago) link
http://i.imgur.com/hjH98LR.jpg
― ☕ (diamonddave85), Thursday, 7 February 2013 04:22 (eleven years ago) link
http://siliconangle.com/files/2011/11/bitcoin-devilrobber.png
― ron paulstretch (crüt), Thursday, 7 February 2013 06:04 (eleven years ago) link
http://i.imgur.com/6FJrFG3.png
― ☕ (diamonddave85), Friday, 15 February 2013 00:22 (eleven years ago) link
http://i.imgur.com/l464dvr.jpghttp://i.imgur.com/iyUv99s.jpg
― diamonddave85, Tuesday, 19 March 2013 18:04 (eleven years ago) link
Just when the Cypriots were losing faithThat’s when I learned about the block chainI still remember how it all changedSatoshi said,Don’t you worry, don’t you worry, childBitcoin has got a plan for youDon’t you worry, don’t you worry now
― Brakhage, Friday, 29 March 2013 19:12 (eleven years ago) link
http://leaksource.files.wordpress.com/2013/03/bitcoin.jpg
― buzza, Friday, 29 March 2013 19:26 (eleven years ago) link
http://i.imgur.com/FSIkmqR.png
― diamonddave85, Friday, 29 March 2013 19:28 (eleven years ago) link
http://i.imgur.com/OGumtoL.jpg
― ❏❐❑❒ (gr8080), Friday, 29 March 2013 19:40 (eleven years ago) link
1 bit coin is worth close to 90 bucks right now. Bought some a year or so ago for 5 bucks a piece. $$$
― circa1916, Friday, 29 March 2013 21:25 (eleven years ago) link
฿฿฿
― Brakhage, Friday, 29 March 2013 21:31 (eleven years ago) link
A friend of mine told me last night that he made 250k off these.
― Tioc Norris (LocalGarda), Saturday, 30 March 2013 11:38 (eleven years ago) link
http://www.businessweek.com/articles/2013-03-28/bitcoin-may-be-the-global-economys-last-safe-haven
― Look, Brian, about the afro wig... (forksclovetofu), Saturday, 30 March 2013 18:09 (eleven years ago) link
http://i.imgur.com/h6gl9nM.png
― turds (Hungry4Ass), Saturday, 30 March 2013 18:20 (eleven years ago) link
mining, always a hazardous occupation
― Brakhage, Saturday, 30 March 2013 19:31 (eleven years ago) link
omg
― zero dark (s1ocki), Saturday, 30 March 2013 20:38 (eleven years ago) link
how much processing power do you need to have bitcoins?!?!
CPUs do a mediocre job of it, GPUs are mostly used. So you end up with computers with as many video cards crammed in as possible.
― ☠ ☃ ☠ (mh), Saturday, 30 March 2013 20:41 (eleven years ago) link
http://www.amd.com/us/products/desktop/graphics/ati-radeon-hd-5000/hd-5850/Pages/ati-radeon-hd-5850-overview.aspx
what are they actually like ~doing~
― zero dark (s1ocki), Saturday, 30 March 2013 20:52 (eleven years ago) link
rendering ultra-realistic images of them>??
No. At a high level, it's basically a certain type of math and algorithm that is similar to the calculations that need to be done to render 3d images also let you compare data much more quickly to find bitcoins. It's mostly a coincidence that GPUs are much better at this than a CPU, and a processor specifically designed to be good at bitcoin mining would be much better than that.
Historically this isn't that unique; the cell processor in the PS3 was a variant of an IBM design iirc, but putting together dedicated machines with those processors was less feasible than just buying a shitload of PS3s at the time as the processors weren't really built for consumers, so you ended up with server farms like this: http://www.tomsguide.com/us/ps3-air-force-usaf-playstation,news-5297.html
― ☠ ☃ ☠ (mh), Saturday, 30 March 2013 21:00 (eleven years ago) link
In the distant future, we'll obviously have 3d-printed processors on demand that you can customize for any particular task, but in 2013 that still isn't the case.
― ☠ ☃ ☠ (mh), Saturday, 30 March 2013 21:01 (eleven years ago) link
but what IS bitcoin mining, can you like, produce new bitcoins by applying enough processing power?
i dont understand this at all im just realizing
― zero dark (s1ocki), Saturday, 30 March 2013 21:01 (eleven years ago) link
Imagine it's like finding prime numbers. Not the same, but kind of the same territory
wiki that dawg
― Look, Brian, about the afro wig... (forksclovetofu), Saturday, 30 March 2013 21:05 (eleven years ago) link
as president of the international bitcoin mining federation i wasn't going to reveal this yet... but perhaps the time is now. every machine that has been put under the task of mining bitcoins has, in fact, been contributing secretly and without their knowledge to a far grander and more enlightened undertaking: the world's most realistic 3D rendering of the penis organ of homo sapiens. thank you. we expect to unveil the rendering by christmas
― 乒乓, Saturday, 30 March 2013 21:05 (eleven years ago) link
i should pitch a treasure of sierra madre remake but with bitcoins
― zero dark (s1ocki), Saturday, 30 March 2013 21:07 (eleven years ago) link
A thousand men, say, go searchin' for bitcoins. After six months, one of them's lucky: one out of a thousand. His find represents not only his own labor, but that of nine hundred and ninety-nine others to boot. That's six thousand months, five hundred years, scramblin' over a mountain, goin' hungry and thirsty. An ounce of bitcoins, mister, is worth what it is because of the human labor that went into the findin' and the gettin' of it.
― zero dark (s1ocki), Saturday, 30 March 2013 21:09 (eleven years ago) link
I too did not know you could "mine" bitcoins.
― pplains, Saturday, 30 March 2013 21:14 (eleven years ago) link
http://bitcoinreport.com/wp-content/uploads/2013/01/bitcoin-miner.jpeg
― buzza, Saturday, 30 March 2013 21:17 (eleven years ago) link
― pplains, Saturday, March 30, 2013 5:14 PM (3 minutes ago) Bookmark
where do u think they come from, pal. bitcoin trees???
― turds (Hungry4Ass), Saturday, 30 March 2013 21:22 (eleven years ago) link
http://2.bp.blogspot.com/-1BbbTVdEHAI/T1GxWVAd1yI/AAAAAAAAD-k/b-bX9QbxdhM/s1600/pimpcoin.jpg
― buzza, Saturday, 30 March 2013 21:23 (eleven years ago) link
http://news.firedoglake.com/2013/03/29/as-bitcoin-becomes-billion-dollar-market-america-moves-for-crackdown/
― Look, Brian, about the afro wig... (forksclovetofu), Saturday, 30 March 2013 23:03 (eleven years ago) link
In a way, yeah?
Like, How much is this sack of mushrooms? Well, it's 35 B$. Ok, in my world a sack of mushrooms is fifty bucks, so the exchange for me is 7-10, but in Saudi Arabia, it's $200, so the value of my $35 is worth $200 Saudi dollars.
I didn't really think it all out, sure. Kinda got stuck on that sack of mushrooms, tbh.
― pplains, Saturday, 30 March 2013 23:41 (eleven years ago) link
Bitcoins aren't a fiat currency, really, it's just that each coin is representative of a unit of work completed. Unfortunately, that work only created a bitcoin.
― ☠ ☃ ☠ (mh), Saturday, 30 March 2013 23:59 (eleven years ago) link
do you have any idea how much work went into mining this ounce of gold
― 乒乓, Sunday, 31 March 2013 00:03 (eleven years ago) link
bitcoins are fiat-like tho arrnt thry
― 乒乓, Sunday, 31 March 2013 00:04 (eleven years ago) link
― ☠ ☃ ☠ (mh), Saturday, March 30, 2013 7:59 PM (3 hours ago) Bookmark
Howard: Well, there's no other explanation, mister. Gold itself ain't good for nothing except making jewelry with and gold teeth.
― zero dark (s1ocki), Sunday, 31 March 2013 03:14 (eleven years ago) link
smiles
― ☠ ☃ ☠ (mh), Sunday, 31 March 2013 03:25 (eleven years ago) link
http://i42.tinypic.com/16583p.jpg
― am0n, Monday, 1 April 2013 16:17 (eleven years ago) link
i thought this was really interesting, from the other bitcoin thread:
http://eprint.iacr.org/2012/584
Abstract: The Bitcoin scheme is a rare example of a large scale global payment system in which all the transactions are publicly accessible (but in an anonymous way). We downloaded the full history of this scheme, and analyzed many statistical properties of its associated transaction graph. In this paper we answer for the first time a variety of interesting questions about the typical behavior of users, how they acquire and how they spend their bitcoins, the balance of bitcoins they keep in their accounts, and how they move bitcoins between their various accounts in order to better protect their privacy. In addition, we isolated all the large transactions in the system, and discovered that almost all of them are closely related to a single large transaction that took place in November 2010, even though the associated users apparently tried to hide this fact with many strange looking long chains and fork-merge structures in the transaction graph.
― ciderpress, Monday, 1 April 2013 16:34 (eleven years ago) link
Unreal hockey stick
― Brakhage, Tuesday, 2 April 2013 14:23 (eleven years ago) link
Bitcoin’s programming ensures there can never be more than 21m coins in existence. Part of the “bubble” effect, no doubt, is linked to a realisation that we are quickly approaching that limit. According to the latest data from Bitcoin charts, for example, there are currently 10,986,175 bitcoins in issuance. Yes, we still have some room to go, but given exponential dynamics, the fact that we’ve reached the “half-way point” in supply is no doubt meaningful.
Wait, what? I've been reading about these things for a while and never knew this
― Brakhage, Thursday, 4 April 2013 20:30 (eleven years ago) link
http://www.visualcapitalist.com/wp-content/uploads/2013/04/bitcoin-encryption-standard.jpg
― am0n, Friday, 5 April 2013 14:34 (eleven years ago) link
can someone explain to me the purpose of the mining thing? Does someone benefit from all these computers being used to "solve puzzles" or whatever?
― --808 542137 (Hurting 2), Friday, 5 April 2013 14:40 (eleven years ago) link
the person who does the mining benefits? or am i misunderstanding you
― just sayin, Friday, 5 April 2013 14:42 (eleven years ago) link
i mean they get bitcoins for doing it
the mining is a way to limit the supply of bitcoins, making it more like gold or something, i think? btw please scrub my 'fiat' post from upthread i was confused there momentarily
― 乒乓, Friday, 5 April 2013 14:43 (eleven years ago) link
So even if they had one each, the maximum number of Bitcoin users is 11m or something at the moment? Seems quite limited for an international currency.
― Des Fusils Pour Banter (ShariVari), Friday, 5 April 2013 14:46 (eleven years ago) link
the supply is limited by the fact of what a bitcoin is -- a value that can only be found by an intensive algorithmic process that takes a lot of computing power to complete. The bitcoins that "exist" aren't all found, yet, but due to the nature of the algorithm it's known how many will be found.
Imagine there's a mineral that we know for sure only exists in one mountain on the planet, and we know how it's distributed within the mountain, and the exact amount of it in there. Instead of abstract quantities, it's found in exact units that can't be broken down. The computers crunching numbers are like excavators, slowly strip mining the mountain. There's no shortcut to get directly to the mineral, and a particular amount of land has to be moved each time. The amount of land is greater, but the excavators will get more efficient over time, so there's somewhat of a balance.
― I, rrational (mh), Friday, 5 April 2013 14:51 (eleven years ago) link
And yeah, 11m bitcoins is rather limited
most of them are held by criminals, though
would it be correct to compare it to seeders in a torrent network? except that unlike torrents, you're not copying files but exchanging them?
― ❏❐❑❒ (gr8080), Friday, 5 April 2013 14:52 (eleven years ago) link
oh noes criminals
― am0n, Friday, 5 April 2013 14:52 (eleven years ago) link
yeah, the currency exchange is somewhat like that
― I, rrational (mh), Friday, 5 April 2013 14:53 (eleven years ago) link
http://maxkeiser.com/wp-content/uploads/2013/04/Screen-shot-2013-04-04-at-17.40.44.png
― buzza, Friday, 5 April 2013 15:08 (eleven years ago) link
"pretty cool" - al gore
― am0n, Friday, 5 April 2013 15:13 (eleven years ago) link
coinbase leaks users name and email: https://encrypted.google.com/search?q=site:https://coinbase.com/checkouts/
― diamonddave85, Friday, 5 April 2013 15:53 (eleven years ago) link
Your search - site:https://coinbase.com/checkouts - did not match any documents.
Suggestions:
Make sure all words are spelled correctly.Try different keywords.Try more general keywords.
― am0n, Friday, 5 April 2013 22:35 (eleven years ago) link
There is a limited number of bit coins but that's not an issue as they can be used in decimal values. If it becomes huge you'll see prices or whatever like .00013 bit coins
― Jibe, Saturday, 6 April 2013 05:34 (eleven years ago) link
OMG SO CHEAP ONLY POINT OH OH OH OH OH OH OH OH OH OH OH THIRTEEN OF A BITCOIN
― Let's Make Laugh II (Autumn Almanac), Saturday, 6 April 2013 09:21 (eleven years ago) link
Yeah, I think at the moment you've got 8 decimal places ('satoshis') to play with (even though some places aren't set up to take small fractions as payment). If it gets below that the protocol's got to be changed to allow it, as far as I can tell. Since ฿ is modelled on the way gold works, it attracts goldbug types, but it's essentially a speculative investment vehicle rather than a 'real' currency
The major problem as I see it is fractional reserve banking - if you can't create ฿s you can't loan them easily. So loans would have to be strictly transfers, unlike how it works now
Not a very noise post but I find this whole thing so fascinating
― Brakhage, Saturday, 6 April 2013 15:54 (eleven years ago) link
so loaning now isn't a transfer based business?
― Chuck E was a hero to most (s.clover), Saturday, 6 April 2013 16:03 (eleven years ago) link
WE DO NOT INVEST IN OUTDATED FINANCIAL INSTRUMENTS: REAL ESTATE, COMMODITIES, BONDS, STOCKS
― Brakhage, Saturday, 6 April 2013 16:05 (eleven years ago) link
As far as I know, fractional reserve lending actually *creates* money which is then loaned - so I have cash in the bank at the same time that cash is travelling around. Some good comment threads around this
Here's a 'lender' right here - which I'd imagine is a transfer house rather than an actual lender
― Brakhage, Saturday, 6 April 2013 16:10 (eleven years ago) link
Just a reminder, fellas: Mother's Day is May 12.
― del griffith, Saturday, 6 April 2013 18:18 (eleven years ago) link
lots of loans aren't fractional reserve actually! if i'm a private lender funding some business with a private loan, there's no fractional reserve component. fractional reserve isn't about loans (which involve actual cash transfer one way, then back the other) at all.
fractional reserve is about bank deposits and that's it. i deposit $100 in a bank. that bank then loans out e.g 90$. I still account for myself as having 100$, and the person that borrowed 90$ also now has 90$. They also have an obligation to pay that back in the future, but that doesn't net out from total money supply. So now there are $190 dollars circulating, effectively, since I can spend my money at any time, and the person with the 90$ can spend it too. This works because not everyone with deposits in a bank will be spending them at once. (sorry, econ 101 here). The same effect happens with any loan in fact. The difference is that if I hold a $90 IOU we don't count that as circulating currency, but my 90$ in the bank does count as such (because it is more fungible) even though effectively in both cases I don't have the actual physical cash but some financial obligation representing it. If I leant to a party whose IOU scrip was as good as currency, and freely exchangeable, then the same effect would occur with or without any government intervention or magic or anything. The crazies mystify the process so much that lots of misconceptions fly around regarding it.
There's no reason bitcoin is better or worse than dollars or gold or w/e else in being able to be banked fractional-reserve style.
― Chuck E was a hero to most (s.clover), Sunday, 7 April 2013 00:21 (eleven years ago) link
Anyone could start a fractional reserve bitcoin bank tomorrow. The only problem is that people would have to trust them.
― Chuck E was a hero to most (s.clover), Sunday, 7 April 2013 00:22 (eleven years ago) link
http://i.imgur.com/WYNgcYP.png
― ❏❐❑❒ (gr8080), Sunday, 7 April 2013 02:10 (eleven years ago) link
http://2.bp.blogspot.com/-NMag6mhoh90/Te7LUEniH8I/AAAAAAAAfcg/WFAey0N8FBA/s640/BitCoin+vs.+Future+of+Online+Currency+1.jpg
― pplains, Sunday, 7 April 2013 02:53 (eleven years ago) link
http://cdn.arstechnica.net/wp-content/uploads/2012/08/Layout_BitInstant_Card-640x787.png
http://printcoins.com/images/gallery/ron_paul_bill.jpg
― pplains, Sunday, 7 April 2013 02:54 (eleven years ago) link
back on track
― I, rrational (mh), Sunday, 7 April 2013 03:20 (eleven years ago) link
http://www.listentobitcoin.com/
― I offer about as much diversity as a saltine cracker. (forksclovetofu), Sunday, 7 April 2013 20:05 (eleven years ago) link
Felix Salmon on the bitcoin bubble: says bitcoin's effectively a commodity, not really a currency
https://medium.com/money-banking/2b5ef79482cb
― dow, Sunday, 7 April 2013 23:01 (eleven years ago) link
"Early last week the value of Bitcoins soared past $100 each. This week, it went past $200. If you want a Bitcoin today, it will cost you about $235, and if you wait till tomorrow, it will be more."
http://bitcoinpride.com/media/queldorei/shopper/logo.png
― witepriv and i (buzza), Wednesday, 10 April 2013 15:29 (eleven years ago) link
http://i.imgur.com/b2w7tzR.png
― lag∞n, Wednesday, 10 April 2013 19:01 (eleven years ago) link
buh-oh
― zero dark (s1ocki), Wednesday, 10 April 2013 19:10 (eleven years ago) link
the 10,000 BTC pizza order
― diamonddave85, Wednesday, 10 April 2013 19:15 (eleven years ago) link
print edition header of the chicago tribune business section today has a huge bitcoin symbol on it, will try and snap a pic
― jokestoldforu (gr8080), Wednesday, 10 April 2013 19:16 (eleven years ago) link
1.4 million dollar pizza order in today's bitcoin: http://blockchain.info/address/17SkEw2md5avVNyYgj6RiXuQKNwkXaxFyQ
― diamonddave85, Wednesday, 10 April 2013 19:17 (eleven years ago) link
Financial Times calls this '#000000 Wednesday'
― Brakhage, Wednesday, 10 April 2013 20:50 (eleven years ago) link
that is really funny
― frogbs, Wednesday, 10 April 2013 20:57 (eleven years ago) link
so, what caused this crash? i know there was a programming hiccup that caused a slump some time ago
― goole, Wednesday, 10 April 2013 21:05 (eleven years ago) link
Rory R. O'Rourke @Mejwell 1h
YO DUDES major bitcoin traders are attempting to stabilize market by buying huge swaths of bitcoin, like that FILTHY FED #bitcoin #btc
― Matt Armstrong, Wednesday, 10 April 2013 21:07 (eleven years ago) link
DDOS apparentlyhttp://techcrunch.com/2013/04/10/bitcoin-crash/
― gr8 tr∞lls i have known (forksclovetofu), Wednesday, 10 April 2013 21:36 (eleven years ago) link
The Tokyo-based exchange said last week that hackers are engaging in a strategy to manipulate the price of the currency: “Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit.”
― am0n, Wednesday, 10 April 2013 21:41 (eleven years ago) link
"hackers"
― am0n, Wednesday, 10 April 2013 21:42 (eleven years ago) link
im not sure that explanation makes any sense
― lag∞n, Wednesday, 10 April 2013 21:43 (eleven years ago) link
sounds like basically just the shit that happens when you have a relatively liquidity but overcapitalized commodity. stockpiling, manipulation, etc.
― Chuck E was a hero to most (s.clover), Wednesday, 10 April 2013 21:44 (eleven years ago) link
not even necessarily intentional. price hits a certain amount and some big holders decide to take profits. maybe the downturn causes a few other people to act more quickly and dump their coins too. typically in a major market there are lots of other orders and algos and bots that tend to even things out and take advantage of these moves before they just throw everything around so wildly (which works until those algos all line up and multiply effects instead of mitigating them). but this isn't a major market with all those institutions trying to bleed out arbitrage and regulate movements and etc, and so when people act, it has sharp and catastrophic affects on the market.
― Chuck E was a hero to most (s.clover), Wednesday, 10 April 2013 21:47 (eleven years ago) link
noted leet haxor George Soros
― Matt Armstrong, Wednesday, 10 April 2013 21:53 (eleven years ago) link
It's really not a "hack" at all, it's more like penny stock manipulation
― --808 542137 (Hurting 2), Wednesday, 10 April 2013 21:58 (eleven years ago) link
im not sure that explanation makes any sense― lag∞n, Wednesday, April 10, 2013 5:43 PM
this should clear things up
http://siliconangle.com/files/2011/08/bitcoin-crash.png
― am0n, Wednesday, 10 April 2013 22:03 (eleven years ago) link
http://www.naturalnews.com/gallery/300x250/Money/Coins-Crash-Money.jpg
― Heyman (crüt), Wednesday, 10 April 2013 22:04 (eleven years ago) link
http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/4/10/1365626013983/Bitcoin-010.jpg
problem is you can hold it imho
― lag∞n, Wednesday, 10 April 2013 22:05 (eleven years ago) link
http://siliconangle.com/files/2013/01/bitcoin-hand-drop.jpg
― Heyman (crüt), Wednesday, 10 April 2013 22:06 (eleven years ago) link
that seems like a pretty good scam, brb, buying a few grand in bitcoins
― I, rrational (mh), Wednesday, 10 April 2013 22:40 (eleven years ago) link
buy low sell high breh
― --808 542137 (Hurting 2), Wednesday, 10 April 2013 22:44 (eleven years ago) link
then dump enough of your stock to tank the market considerably and make people rush, then buy up more of them. rinse, repeat
― I, rrational (mh), Wednesday, 10 April 2013 22:45 (eleven years ago) link
what could go wrong
― lag∞n, Wednesday, 10 April 2013 22:46 (eleven years ago) link
idk, people do this in Diablo 3 all the time
― I, rrational (mh), Wednesday, 10 April 2013 22:46 (eleven years ago) link
yo... anybody wanna trade some bitcoins
― 乒乓, Wednesday, 10 April 2013 22:50 (eleven years ago) link
http://i.imgur.com/gdURUT9.pnghttp://i.imgur.com/gdURUT9.pnghttp://i.imgur.com/gdURUT9.png i got 3 bitcoins right here... will sell them for 20$ each
― 乒乓, Wednesday, 10 April 2013 22:52 (eleven years ago) link
i have a 2010 silver bitcoin stashed in case everything goes 'the road'
― Roberto Spiralli, Wednesday, 10 April 2013 22:53 (eleven years ago) link
oh nice... i missed out on the reservation list for those... still kicking myself...
― 乒乓, Wednesday, 10 April 2013 22:54 (eleven years ago) link
i'm trying to remember if i heard of these before today.
― Pope Rusty I (Dr Morbius), Wednesday, 10 April 2013 22:57 (eleven years ago) link
I've been wondering a lot whether it would be possible to create a bitcoin that didn't have a fixed supply, like that self-expanded and contracted its supply according to some kind of algorithms/data. IDK what that would be based on, production in the economy? Value of transactions in Bitcoin?
― --808 542137 (Hurting 2), Thursday, 11 April 2013 02:21 (eleven years ago) link
There could be a long-running thing but such algorithmic finds are hard to balance. You could make a central bank, encode arbitrary strings, and award tokens to whoever decrypts them. That is usually a product of chance rather than a known unit of work, though.
― I, rrational (mh), Thursday, 11 April 2013 02:32 (eleven years ago) link
http://bit.ly/11Wz5X0
― markers, Thursday, 11 April 2013 02:38 (eleven years ago) link
fishing 4 bitc0ins http://techcrunch.com/2013/04/11/mt-gox-cross-site-scripting-attack-wipes-out-bitcoin-accounts/
― lag∞n, Thursday, 11 April 2013 14:34 (eleven years ago) link
Being a techie, I started researching.
― I, rrational (mh), Thursday, 11 April 2013 14:39 (eleven years ago) link
ha yes
― lag∞n, Thursday, 11 April 2013 14:45 (eleven years ago) link
http://i.imgur.com/vCkuFAY.jpeg
― 乒乓, Thursday, 11 April 2013 14:51 (eleven years ago) link
coins on the bit / coins on the bit / bitcoins / bitcoins
― am0n, Thursday, 11 April 2013 15:12 (eleven years ago) link
http://mises.org/daily/6399/The-Moneyness-of-Bitcoins
― Chuck E was a hero to most (s.clover), Thursday, 11 April 2013 19:34 (eleven years ago) link
"Thus, on the free market, commodity monies, and presumably gold and silver, still have a great comparative advantage."
cool conclusion austrian economist guy thanks.
― Chuck E was a hero to most (s.clover), Thursday, 11 April 2013 19:35 (eleven years ago) link
lmao http://gawker.com/5994433/idiot-dick-facebook-twins-now-own-one-percent-of-all-bitcoin
― lag∞n, Thursday, 11 April 2013 21:15 (eleven years ago) link
another smash from the go-in brothers
― --808 542137 (Hurting 2), Thursday, 11 April 2013 21:17 (eleven years ago) link
that led them to sure Facebook
― am0n, Thursday, 11 April 2013 21:20 (eleven years ago) link
oh man good catch
― zero dark (s1ocki), Thursday, 11 April 2013 21:35 (eleven years ago) link
http://www.businessinsider.com/why-bitcoin-speculators-laugh-at-anyone-who-calls-it-a-bubble-2013-4
― Matt Armstrong, Thursday, 11 April 2013 23:55 (eleven years ago) link
lol
― lag∞n, Friday, 12 April 2013 00:52 (eleven years ago) link
I think this subreddit should seriously consider having suicide hotline info posted. (self.Bitcoin)No, bitcoin is not dead. But we've got some work to do. (self.Bitcoin)Repeat after me - "I have no moral obligation to buy, hold, or sell Bitcoin just because others want me to do so." (self.Bitcoin)Libertarian Party (United States) now accepting bitcoin. (lp.org)I've been a trader for over 15 years and I never dreamed I'd see this chart again. Please be careful guys and gals. (i.imgur.com)I adopted her yesterday with Bitcoin earnings. She's one of the most expensive purchases I've ever made. I'm thinking of naming her Bubble. (imgur.com)The hypocrisy of the Bitcoin community (self.Bitcoin)Bloomberg on Bitcoin Currency: Has the Bubble Popped? (youtube.com)The Winklevii own 1% of bitcoins outstanding. (dealbook.nytimes.com)Can people please stop handing out financial advice as if they were an expert. Stupid people are listening and getting burnt. (self.Bitcoin)How to buy these cheap coins right now (self.Bitcoin)Help phase out Mt. Gox. (self.Bitcoin)Order Placing Suspended on MT.Gox (self.Bitcoin)Who else didn't sell? (self.Bitcoin)Now that the hype is gone and media will forget - can we focus on fixing some Bitcoin fundamental issue? (self.Bitcoin)Lead Bitcoin Developer Comments on Bitcoin "Bubble" and Mocks Speculators (i.imgur.com)Official: Bitfloor being DDoS'd (twitter.com)Don't do anything drastic.. (reddit.com)Winklevoss twins hold %1 of all bitcoins (theverge.com)"I predict there will be between one and five Bitcoin bubbles" -Bitcoin Lead Developer Gavin Andresen, 2010 (self.Bitcoin)Unfazed By Bitcoin’s Wild Swings And Mysterious Origins, Silicon Valley VCs Place Their Bets (techcrunch.com)New Get Rich Quick Scheme: Create a currency that's pegged to Mt. Gox lag time. (self.Bitcoin)The only thing that is holding bitcoin back is the way it has to be purchased. (self.Bitcoin)Bitcoin Crash Spurs Race to Create New Exchanges (cnbc.com)MTGOX gloats about its "success" after screwing over entire Bitcoin community (self.Bitcoin)
― Chuck E was a hero to most (s.clover), Friday, 12 April 2013 02:17 (eleven years ago) link
wow
― geeta, Friday, 12 April 2013 02:38 (eleven years ago) link
this is as good as sports tbh
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 03:53 (eleven years ago) link
The most you can lose if Bitcoins go to zero is 100% of your money.The most you can make, meanwhile ...Well, no one knows exactly how much you can make.But it's probably a lot more than 100%.
The most you can make, meanwhile ...
Well, no one knows exactly how much you can make.
But it's probably a lot more than 100%.
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 03:54 (eleven years ago) link
lol agreed. schadenfreude at its finest xp
― The description of my page is: Gargoyles Swimsuit Special (Matt P), Friday, 12 April 2013 03:55 (eleven years ago) link
the CEO of Business Insider
― Matt Armstrong, Friday, 12 April 2013 04:02 (eleven years ago) link
"I've always estimated the final price of a Bitcoin at between $10,000 - $1,000,000 maybe 5-10 years from now. The low end being based on the size and volume of Western Union, PayPal, Visa/MasterCard. And the high end being based on the total global gold supply."
http://www.reddit.com/r/Bitcoin/comments/1bo02h/why_1000_in_60_days_a_paypal_comparison/c98fm0w
― Matt Armstrong, Friday, 12 April 2013 04:06 (eleven years ago) link
ceo of business insider and former fraudulent securities analyst describes bubble says hey maybe bubbles are okay cause some guys will make money
― lag∞n, Friday, 12 April 2013 04:08 (eleven years ago) link
good guess!!! xp
― zero dark (s1ocki), Friday, 12 April 2013 04:09 (eleven years ago) link
are there bit cents too cause dont these prices make these things hard to spend
― lag∞n, Friday, 12 April 2013 04:09 (eleven years ago) link
you can spend them in fractions iirc
― zero dark (s1ocki), Friday, 12 April 2013 04:10 (eleven years ago) link
they go down to the 8th decimal place. I think 8th decimal unit is called a satoshi?
― Matt Armstrong, Friday, 12 April 2013 04:12 (eleven years ago) link
gesundheit
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 04:14 (eleven years ago) link
http://blogs.miaminewtimes.com/shortorder/bitohoney.jpg
― buzza, Friday, 12 April 2013 04:14 (eleven years ago) link
― Matt Armstrong, Friday, April 12, 2013 12:12 AM (3 minutes ago) Bookmark Flag Post Permalink
ok if they all have names im ready to jump on the bandwagon
― lag∞n, Friday, 12 April 2013 04:18 (eleven years ago) link
http://coinabul.com/images/bitcoin_flyer5.png
― geeta, Friday, 12 April 2013 08:36 (eleven years ago) link
haha oops that's big
― geeta, Friday, 12 April 2013 08:37 (eleven years ago) link
I kinda hope those crazy kids bring it back from the brink (or just claim BitCoin was one long elaborate Situationist prank)
― Elvis Telecom, Friday, 12 April 2013 11:32 (eleven years ago) link
Sailing dangerously close to goatse territory there xxp
― bizarro gazzara, Friday, 12 April 2013 13:27 (eleven years ago) link
― Elvis Telecom, Friday, April 12, 2013 7:32 AM Bookmark Flag Post Permalink
like if the last bitcoin mined caused all the bitcoins to dissipate, and then a message flashed on everyone's computer screens, and "peace on earth" was all it said
― --808 542137 (Hurting 2), Friday, 12 April 2013 13:41 (eleven years ago) link
be excellent.
― Chuck E was a hero to most (s.clover), Friday, 12 April 2013 13:43 (eleven years ago) link
and then it cuts to a man in a top hat with a twirly moustache, sitting at his computer, and steam shoots out of his ears
― --808 542137 (Hurting 2), Friday, 12 April 2013 13:45 (eleven years ago) link
http://money.cnn.com/2013/04/12/investing/bitcoin-bubble/
The price of Bitcoins has plunged more than 75% in the past two days, sparking a rush of activity that overwhelmed trading platforms and suggested the bubble in the virtual currency has burst.Bitcoins were down to $61.11 as of 9 a.m. ET Friday. Prices reached as high as $266 per Bitcoin around 7:30 a.m. ET Wednesday. But the price started to fall through the rest of day and Thursday morning.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:16 (eleven years ago) link
lulz
it's semi tempting to try jumping into this when the price hits the teens, because you know someone is going to prop it up for a bit and you could probably double your money on a quick turnaround
― relentless technosexuality (DJP), Friday, 12 April 2013 14:26 (eleven years ago) link
id be worried that the failure of the trading infrastructure could scare a lot of people off
― lag∞n, Friday, 12 April 2013 14:35 (eleven years ago) link
there's that and also the govt could step in any day
― iatee, Friday, 12 April 2013 14:37 (eleven years ago) link
― relentless technosexuality (DJP), Friday, April 12, 2013 10:26 AM Bookmark Flag Post Permalink
yeah, this sort of thinking is always tempting, that's why these things keep happening. If I had an extra thousand dollars lying around, why not. I never seem to have that extra thousand dollars lying around.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:51 (eleven years ago) link
i suggest taking your money and investing it in the other commodity that mt. gox is famous for: magic cards
― 乒乓, Friday, 12 April 2013 14:52 (eleven years ago) link
What I do know, though, is that I've watched penny stocks do the hockey stick thing a hundred times and thought to myself "this went up 10000% in one day, all the attention will make it go up even more as money pours in!" and then it crashes. I lost a small amount of money this way once.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:52 (eleven years ago) link
might as well just go to a casino and put the money on red
― lag∞n, Friday, 12 April 2013 14:54 (eleven years ago) link
the benefit of this approach is you can play w/ your investment every day
― iatee, Friday, 12 April 2013 14:56 (eleven years ago) link
what are bitcoins useful for, besides buying drugs on the internet with
― 乒乓, Friday, 12 April 2013 14:56 (eleven years ago) link
xp Basically agree, except in the casino you know your exact odds and how bad they suck. With a bubble you actually have no idea what the odds are in most cases, you're just firing in the dark.
― --808 542137 (Hurting 2), Friday, 12 April 2013 14:57 (eleven years ago) link
you can buy some other stuff w them too, tho they are not v widely accepted
― lag∞n, Friday, 12 April 2013 14:57 (eleven years ago) link
the only appealing thing about bitcoins is maybe spending $1000 on a bitcoin miner computer and a couple hundred on electricity a month
― 乒乓, Friday, 12 April 2013 14:57 (eleven years ago) link
seems like in every transaction where u had the choice to use bitcoins or paypal u'd just use paypal
― 乒乓, Friday, 12 April 2013 14:59 (eleven years ago) link
when bitcoin is used in transactions it's done out of novelty not because it's actually useful
― iatee, Friday, 12 April 2013 15:00 (eleven years ago) link
well except for buying drugs
― lag∞n, Friday, 12 April 2013 15:00 (eleven years ago) link
yeah I guess nobody really knows how much of that is going on
― iatee, Friday, 12 April 2013 15:01 (eleven years ago) link
yeah... or hookers
― 乒乓, Friday, 12 April 2013 15:01 (eleven years ago) link
that was real nice, babe. log on to my computer and take some of my bitcoins. dont click on the folder that says 'vacation pics' though
― 乒乓, Friday, 12 April 2013 15:02 (eleven years ago) link
I would guess 'not that much' because even drug dealers would prefer to deal in stable currencies
― iatee, Friday, 12 April 2013 15:02 (eleven years ago) link
can't hit the club and make it rain bitcoins
― --808 542137 (Hurting 2), Friday, 12 April 2013 15:02 (eleven years ago) link
well i guess dealers would prefer to receive bitcoins (for the security) and then be able to cash out the bitcoins into a stable currency
― 乒乓, Friday, 12 April 2013 15:03 (eleven years ago) link
it's probably teenagers growing pot in their basement who accept bitcoins
― iatee, Friday, April 12, 2013 11:02 AM
noobs: http://en.wikipedia.org/wiki/Silk_Road_(marketplace)
― am0n, Friday, 12 April 2013 15:05 (eleven years ago) link
add the parentheses to the end cuz ilx code is garbage
― am0n, Friday, 12 April 2013 15:06 (eleven years ago) link
gold is at a multiyear low now fwiw speaking of bubbles perpetuated by paranoid idiot libertarians
― lag∞n, Friday, 12 April 2013 15:09 (eleven years ago) link
what about wow gold
― am0n, Friday, 12 April 2013 15:10 (eleven years ago) link
all gold is wow gold cause you say wow! when you see it, its so soft when you bite into it, smooth going down
― lag∞n, Friday, 12 April 2013 15:13 (eleven years ago) link
http://i.imgur.com/bBTj23e.jpg
― 乒乓, Friday, 12 April 2013 15:14 (eleven years ago) link
one funny thing abt bitcoins is what % of them were minded using illegal botnets a lot i bet
― lag∞n, Friday, 12 April 2013 15:16 (eleven years ago) link
http://i.imgur.com/59ZCAfA.jpg
― 乒乓, Friday, 12 April 2013 15:17 (eleven years ago) link
http://i.imgur.com/PtlV0ZA.jpg
what do you mean by an "illegal botnet"? You mean like using other people's processing power to mine them?
― --808 542137 (Hurting 2), Friday, 12 April 2013 15:17 (eleven years ago) link
yah zombie computers and what not
― lag∞n, Friday, 12 April 2013 15:18 (eleven years ago) link
http://i.imgur.com/uW7JYr6.jpg
― 乒乓, Friday, 12 April 2013 15:18 (eleven years ago) link
hurting: http://en.wikipedia.org/wiki/Botnet
u know what this virtual currency needs a print magazine totally
One thing I've been wondering is how long it will take for competitor currencies to spring up. It'll be like the old days with bank notes.
― --808 542137 (Hurting 2), Friday, 12 April 2013 15:18 (eleven years ago) link
if you look at new varieties' prices over the past century or so (where Tulipomania could have no effect), you'll see plenty of extraordinarily high prices for new blubs; claims of bulbs costing a year's salary, when not made up by said moralizing pamphlets, may stem from ignoring this fact of life. It would be like thinking that America's economy collapsed in 2007 due to speculation in automobiles because centuries later, you found some fragmentary records documenting Mercedes-Benz sales ("$60,000 for an automobile?! Why, that's well above the median salary of a common American laborer!")Currencies had recently been abased by constant warfare and were inflating; getting into commodities is merely a rational move. (Hm... surely this has no parallels with bitcoins or food or gold prices over the last 5+ years?)Plague struck the Netherlands at the same time as the 'bubble' was happening; plagues will rather increase your discount rate... Why not try to get some beautiful tulips if you may die within the next years?Speculators may've done it as much for amusement during the winter as anything else. Given the enormous size of the entertainment industry the world over, Tulipomania may have been a bargain.
Currencies had recently been abased by constant warfare and were inflating; getting into commodities is merely a rational move. (Hm... surely this has no parallels with bitcoins or food or gold prices over the last 5+ years?)
Plague struck the Netherlands at the same time as the 'bubble' was happening; plagues will rather increase your discount rate... Why not try to get some beautiful tulips if you may die within the next years?
Speculators may've done it as much for amusement during the winter as anything else. Given the enormous size of the entertainment industry the world over, Tulipomania may have been a bargain.
― Chuck E was a hero to most (s.clover), Friday, 12 April 2013 15:18 (eleven years ago) link
http://i.imgur.com/ZxTrAXL.jpg
― --808 542137 (Hurting 2), Friday, April 12, 2013 11:18 AM (7 seconds ago) Bookmark
u need some math whizzes to come u pwith these things i think
― 乒乓, Friday, 12 April 2013 15:19 (eleven years ago) link
there are already some apparently
― lag∞n, Friday, 12 April 2013 15:19 (eleven years ago) link
http://i.imgur.com/kePF4Hz.jpg
― 乒乓, Friday, 12 April 2013 15:20 (eleven years ago) link
http://i.imgur.com/QJQA4Cj.jpg
bitcoin more like BLOODCOIN
― lag∞n, Friday, 12 April 2013 15:20 (eleven years ago) link
http://i.imgur.com/wlyH7JN.jpg
http://i.imgur.com/C8bUhEz.png
well the whole thing about bitcoin is it works because of the network effect, if enough competitors spring up then people are gonna lose faith in all of them
― iatee, Friday, 12 April 2013 15:20 (eleven years ago) link
http://i.imgur.com/iwrU8zI.png
― 乒乓, Friday, 12 April 2013 15:21 (eleven years ago) link
http://i.imgur.com/DhfgjBj.jpg
― 乒乓, Friday, 12 April 2013 15:22 (eleven years ago) link
http://i.imgur.com/o45Gshr.jpg
can somebody explain to a total moron how bitcoin mining works
― frogbs, Friday, 12 April 2013 15:22 (eleven years ago) link
http://i.imgur.com/yUBBd8x.jpg
in america its bitcoin but out here its bit bang
― lag∞n, Friday, 12 April 2013 15:22 (eleven years ago) link
http://www.reddit.com/r/Bitcoin/comments/1c7ahh/we_are_mt_gox_ama/
― just sayin, Friday, 12 April 2013 15:23 (eleven years ago) link
― iatee, Friday, April 12, 2013 11:20 AM Bookmark Flag Post Permalink
sure, but that doesn't mean it won't happen
I'm actually hoping (against reason) that the bitcoin fiasco will teach a generation of money skeptics about how money actually works
― --808 542137 (Hurting 2), Friday, 12 April 2013 15:24 (eleven years ago) link
― frogbs, Friday, April 12, 2013 11:22 AM (4 seconds ago) Bookmark Flag Post Permalink
its a lottery basically, every so often a new bitcoin is minted and the more computer cycles you have entered into the lottery the better your chances of winning are
― lag∞n, Friday, 12 April 2013 15:24 (eleven years ago) link
http://i.imgur.com/0Qy870N.jpg
― ְ֮֠֓֟֬֩ (gr8080), Friday, 12 April 2013 15:24 (eleven years ago) link
http://i.imgur.com/sQt0gyr.jpg
― 乒乓, Friday, 12 April 2013 15:24 (eleven years ago) link
Idea: novelty machine that presses your bitcoin into a gif of the statute of liberty. Only ten bitcoins.
― --808 542137 (Hurting 2), Friday, 12 April 2013 15:25 (eleven years ago) link
― --808 542137 (Hurting 2), Friday, April 12, 2013 10:24 AM (1 minute ago) Bookmark Flag Post Permalink
right I agree on both counts. if anything I think it's *likely* to happen.
― iatee, Friday, 12 April 2013 15:25 (eleven years ago) link
http://i.imgur.com/MTTU32e.jpg
― 乒乓, Friday, 12 April 2013 15:26 (eleven years ago) link
afaik there are trace amounts of Bitcoin in air & you use fans to blow them into your computer
http://25.media.tumblr.com/tumblr_m7cgsnnTOo1ryrmmno1_500.jpg
― Heyman (crüt), Friday, 12 April 2013 15:26 (eleven years ago) link
http://i.imgur.com/kiyOr2R.jpg
― ְ֮֠֓֟֬֩ (gr8080), Friday, 12 April 2013 15:27 (eleven years ago) link
http://i.imgur.com/XfD2Nst.jpg
― 乒乓, Friday, 12 April 2013 15:27 (eleven years ago) link
http://i.imgur.com/fK347Nm.png
― 乒乓, Friday, 12 April 2013 15:29 (eleven years ago) link
― lag∞n, Friday, April 12, 2013 10:24 AM (4 minutes ago) Bookmark Flag Post Permalink
and how often do they get minted?
― frogbs, Friday, 12 April 2013 15:30 (eleven years ago) link
http://i.imgur.com/fX9BADY.png
― 乒乓, Friday, 12 April 2013 15:30 (eleven years ago) link
http://i.imgur.com/Kk4Nvk8.jpg
― 乒乓, Friday, 12 April 2013 15:32 (eleven years ago) link
― frogbs, Friday, April 12, 2013 11:30 AM (1 minute ago) Bookmark Flag Post Permalink
the frequency is continually slowing down until at some point it will stop, all based on factors and formulas and stuff
― lag∞n, Friday, 12 April 2013 15:32 (eleven years ago) link
http://i.imgur.com/rfp1i4S.png
― 乒乓, Friday, 12 April 2013 15:35 (eleven years ago) link
http://i.imgur.com/kni6MqQ.jpg
http://i.imgur.com/aWqSKUZ.jpg
MAJOR:-BTC Bitcoin - first, strongest, most accepted, most mined, high volume market, a true currency-LTC Litecoin - second only to BTC , faster than BTC, Small efficiency gap between GPUs and CPUs , ASIC - proof-NMC Namecoin merged mined with BTC, used for alternative p2p domain system-PPC PPcoin Proof Of Stake [very innovative, low energy ] , compatibile with BTC minersMINOR:-TRC Terracoin based on BTC, fast difficulty adjustment, initialy flaved but corrected -DVC Devcoin merged mined with BTC, 90% of generation goes to foundation, 10% to miners-IXC IxCoin merged mined with BTC, premined 580k coins but still alive-NVC NovaCoin - scrypt hashing[like LTC] , proof of stake [like PPC] , controversial start-FRC Freicoin - back alive. 4.89% anual demurrage. for the first 3 years 80% block subsidy goes to foundation, 20% to minersCANDIDATES:-BTE Bytecoin- the 1:1 bitcoin copycat, nothing changed. extremally high starting hype/hashrate. -BBQ BBQCoin - forgotten after 51% attack on launch, now revived and active.DEAD / DYING :-LQC Liquidcoin made to be very fast at constant difficulty, dead [pool closed, exchange closed]-SC Solidcoin - dying (10-20% fee), designed to improove IxCoin, hard to be neutral on this one, 1.0 was a premine scam, 2.0 says BTC is pyramid scheme.-GG Geist Geld experiment on BTC algorithm, how fast can it go? just for sience.-TBX Tenebrix great idea of cpu-friendly mining with scrypt, but premined with 7.7milion coins - alive but little support due to premining-FBX Fairbrix - Tenebrix without the premine, bad launch, alive but little support.-I0C I0coin - ixcoin without the premine. Dead-CLC Coiledcoin - some nice ideas, but killed in 51% attack-RUC Rucoin - copy of bitcoin, only difference is that it was developed in russian not english.than reborn much different, not confirmed if it is the same blockchain, both scrypt[like LTC] and sha256d , nice client !warning! not opensource ! dying again-TimeKoin - PHP webbased coin, alive but not used or traded.-Beertokens -abitious [impossible?] try to stabilize price against commodity.-MMM MMMcoin - Dead coin by notorious scamer SPMavrodi, named "yes we can" "my mozem mnogoye"
-BTC Bitcoin - first, strongest, most accepted, most mined, high volume market, a true currency-LTC Litecoin - second only to BTC , faster than BTC, Small efficiency gap between GPUs and CPUs , ASIC - proof-NMC Namecoin merged mined with BTC, used for alternative p2p domain system-PPC PPcoin Proof Of Stake [very innovative, low energy ] , compatibile with BTC miners
MINOR:
-TRC Terracoin based on BTC, fast difficulty adjustment, initialy flaved but corrected -DVC Devcoin merged mined with BTC, 90% of generation goes to foundation, 10% to miners-IXC IxCoin merged mined with BTC, premined 580k coins but still alive-NVC NovaCoin - scrypt hashing[like LTC] , proof of stake [like PPC] , controversial start-FRC Freicoin - back alive. 4.89% anual demurrage. for the first 3 years 80% block subsidy goes to foundation, 20% to miners
CANDIDATES:
-BTE Bytecoin- the 1:1 bitcoin copycat, nothing changed. extremally high starting hype/hashrate. -BBQ BBQCoin - forgotten after 51% attack on launch, now revived and active.
DEAD / DYING :
-LQC Liquidcoin made to be very fast at constant difficulty, dead [pool closed, exchange closed]-SC Solidcoin - dying (10-20% fee), designed to improove IxCoin, hard to be neutral on this one, 1.0 was a premine scam, 2.0 says BTC is pyramid scheme.-GG Geist Geld experiment on BTC algorithm, how fast can it go? just for sience.-TBX Tenebrix great idea of cpu-friendly mining with scrypt, but premined with 7.7milion coins - alive but little support due to premining-FBX Fairbrix - Tenebrix without the premine, bad launch, alive but little support.-I0C I0coin - ixcoin without the premine. Dead-CLC Coiledcoin - some nice ideas, but killed in 51% attack-RUC Rucoin - copy of bitcoin, only difference is that it was developed in russian not english.than reborn much different, not confirmed if it is the same blockchain, both scrypt[like LTC] and sha256d , nice client !warning! not opensource ! dying again-TimeKoin - PHP webbased coin, alive but not used or traded.-Beertokens -abitious [impossible?] try to stabilize price against commodity.-MMM MMMcoin - Dead coin by notorious scamer SPMavrodi, named "yes we can" "my mozem mnogoye"
― Chuck E was a hero to most (s.clover), Friday, 12 April 2013 15:37 (eleven years ago) link
http://i.imgur.com/9n6xL9w.png
― 乒乓, Friday, 12 April 2013 15:38 (eleven years ago) link
http://i.imgur.com/H7eGjj6.png
http://i.imgur.com/AajUnnS.jpg
― 乒乓, Friday, 12 April 2013 15:40 (eleven years ago) link
http://i.imgur.com/G9JSCRI.jpg
Somebody has been reading business insider
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 15:43 (eleven years ago) link
you have iirc
― lag∞n, Friday, 12 April 2013 15:43 (eleven years ago) link
ha, that graph is great, xp
― --808 542137 (Hurting 2), Friday, 12 April 2013 15:43 (eleven years ago) link
theres no such thing as smart money
― lag∞n, Friday, 12 April 2013 15:44 (eleven years ago) link
yes there is, it's called bitcoins iirc
― --808 542137 (Hurting 2), Friday, 12 April 2013 15:46 (eleven years ago) link
tru
― lag∞n, Friday, 12 April 2013 15:49 (eleven years ago) link
bitcoins
― 乒乓, Friday, 12 April 2013 15:50 (eleven years ago) link
Now I've had the time of my lifeAnd I owe it all to you you you you you you you you Dirty bit(coin)
― relentless technosexuality (DJP), Friday, 12 April 2013 15:54 (eleven years ago) link
http://i.imgur.com/XJv3KQo.jpg
― 乒乓, Friday, 12 April 2013 15:59 (eleven years ago) link
http://i.imgur.com/il3yano.png
― 乒乓, Friday, 12 April 2013 16:02 (eleven years ago) link
keeper
― lag∞n, Friday, 12 April 2013 16:03 (eleven years ago) link
http://stripcoin.com/
― 乒乓, Friday, 12 April 2013 16:04 (eleven years ago) link
but dude feels no obligation to shave that shitsmear off his face
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:04 (eleven years ago) link
http://i.imgur.com/g48H0Cc.jpg
― 乒乓, Friday, 12 April 2013 16:05 (eleven years ago) link
why is "pedobear :D" making me lol so hard
― relentless technosexuality (DJP), Friday, 12 April 2013 16:05 (eleven years ago) link
http://i.imgur.com/U52iOyp.jpg
http://i.imgur.com/BmZHq59.png
― 乒乓, Friday, 12 April 2013 16:06 (eleven years ago) link
i could totally see this being a fascination if i were a kid. mystical computer moneytree. like polybagged x-force #1
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 16:09 (eleven years ago) link
bitcoin.txt @bitcoin_txt 5mwe all know its only a matter of time before BTC surges back up past 266 this time. When will the next 'bubble' (holds back laughter) be?
― lag∞n, Friday, 12 April 2013 16:09 (eleven years ago) link
all of these nerds literally made $386,720.58 overnight so
― sleepingbag, Friday, 12 April 2013 16:09 (eleven years ago) link
this sign looks hella banged up, like somebody went at it with an ice pick
― zero dark (s1ocki), Friday, 12 April 2013 16:10 (eleven years ago) link
ppl were flinging their bitcoins at it
― relentless technosexuality (DJP), Friday, 12 April 2013 16:11 (eleven years ago) link
― sleepingbag, Friday, April 12, 2013 12:09 PM (31 seconds ago) Bookmark Flag Post Permalink
really did all of them literally
― lag∞n, Friday, 12 April 2013 16:11 (eleven years ago) link
in total, he means
― relentless technosexuality (DJP), Friday, 12 April 2013 16:12 (eleven years ago) link
really did all of them totally
― lag∞n, Friday, 12 April 2013 16:16 (eleven years ago) link
no each one of them made that exact sum is what i meant
― sleepingbag, Friday, 12 April 2013 16:17 (eleven years ago) link
i may not be operating on the right metaphysical plane here but idg how this is any less of a mass consensual delusion than any other currency
― goole, Friday, 12 April 2013 16:19 (eleven years ago) link
it's much more of one!
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:21 (eleven years ago) link
well its doesnt have any sort of justice system and military backing it up for one thing
― lag∞n, Friday, 12 April 2013 16:21 (eleven years ago) link
doesn't it have... all of them? think abt it
― goole, Friday, 12 April 2013 16:22 (eleven years ago) link
not that i think mass consensual delusion is a very accurate was to describe currency, its an intentional system not a delusion
― lag∞n, Friday, 12 April 2013 16:22 (eleven years ago) link
i think the question is why would you want to hold bitcoins if u were not 1.) speculating or 2.) buying drugs
― 乒乓, Friday, 12 April 2013 16:23 (eleven years ago) link
I'm going to buy a giant warehouse and fill it with straw, and then create a currency called Strawcoin. Unlike other currencies, backed only by trust, mine is backed 100% by real straw. And there will be photos of me, in a ten-gallon hat, gesturing grandly to my endless piles of straw.
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:23 (eleven years ago) link
― goole, Friday, April 12, 2013 12:22 PM (56 seconds ago) Bookmark Flag Post Permalink
well i mean if you steal some sure but thats true of anything you can steal, its doesnt have any of the if we all stop believing in this it wont be real protections that usa currency does is the point
― lag∞n, Friday, 12 April 2013 16:24 (eleven years ago) link
http://i.imgur.com/MRS10Nx.png
― 乒乓, Friday, 12 April 2013 16:25 (eleven years ago) link
can somebody teach me how to google
― frogbs, Friday, April 12, 2013 11:22 AM
― am0n, Friday, 12 April 2013 16:25 (eleven years ago) link
freedom
― Reggie (Lamp), Friday, 12 April 2013 16:25 (eleven years ago) link
http://i.imgur.com/eEPcCp3.jpg
omfg
― relentless technosexuality (DJP), Friday, 12 April 2013 16:26 (eleven years ago) link
dying over here
call me bitcoin
― sleepingbag, Friday, 12 April 2013 16:26 (eleven years ago) link
i just can't imagine how it's possible to buy anything with this "currency" as long as it doesn't reach some stable value. it's just fake gold at this point right?
― zero dark (s1ocki), Friday, 12 April 2013 16:27 (eleven years ago) link
send me n00z and i will teach u how to bitcoin
― lag∞n, Friday, 12 April 2013 16:27 (eleven years ago) link
i do find this interesting on some level, and would honestly feel pretty bummed if US currency authorities brought the hammer down.
better to sort of pretend it doesn't exist. if vendors want to give away their goods or services because somebody came in with their magic internet coupons, i mean, who cares.
xp omggggggggggggg
― goole, Friday, 12 April 2013 16:27 (eleven years ago) link
fwiw I don't agree with people who say it's "not a currency." It is a currency, it's just a really, really shitty one.
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:28 (eleven years ago) link
its not a currency its a commodity tho
― lag∞n, Friday, 12 April 2013 16:29 (eleven years ago) link
I need to get up on this shit immediately
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 16:29 (eleven years ago) link
http://i.imgur.com/UcVtkEx.png
― 乒乓, Friday, 12 April 2013 16:29 (eleven years ago) link
one comment i read somewhere likened it to making up a really tiny fictitious country out of nothing, for forex purposes.
― lag∞n, Friday, April 12, 2013 11:29 AM (37 seconds ago) Bookmark Flag Post Permalink
you will not be surprised to learn that bitcoiners hold felix salmon in pretty low esteem!
― goole, Friday, 12 April 2013 16:30 (eleven years ago) link
― 乒乓, Friday, April 12, 2013 12:23 PM (2 minutes ago)
just a bit of coin let's be cool
― am0n, Friday, 12 April 2013 16:30 (eleven years ago) link
http://images.bwbx.io/cms/2013-04-10/mf_bitcoin16__01__630x420.jpg
― zero dark (s1ocki), Friday, 12 April 2013 16:30 (eleven years ago) link
― goole, Friday, April 12, 2013 12:27 PM (1 minute ago) Bookmark Flag Post Permalink
what could they do is the question, shut down some exchanges, make it illegal to accept thm, but not all of them are under their jurisdiction, and the bitcoin audience being what it is im sure theyd find ways to set up new safe ones anyway, of course if the whole thing gets too difficult it would def impede mass adoption, anyway i agree and hope that they leave it alone cause its an interesting an hilarious experiment
― lag∞n, Friday, 12 April 2013 16:32 (eleven years ago) link
and what IS a bitcoin, really? it's a really long guid that can be followed around somehow, right? idk i should probably at least read the basics before digging into the insane-o rightwing message board discourse on it (too late)
― goole, Friday, 12 April 2013 16:32 (eleven years ago) link
I have started to hear of this Peter Thiel character over the past year or so, and I have been impressed with his intellect and his focus on issues that our dear to our hearts, here on this forum.
Clearly he has not yet grasped the full impact, if he is still thinking of Bitcoin and Gold as competing things, instead of thinking of Bitcoin as a new technology that will someday be used for transferring gold. The Bitcoin community and the digital gold community are going to merge. The whole will be greater than the sum of its parts. Both commodities have important roles to play in a larger picture of things. Those who still think that it will be "one community or the other" have not yet grasped the full implications of what is happening.
However that is no matter, because soon everyone will come around, and probably Mr. Thiel sooner than most.
― goole, Friday, 12 April 2013 16:33 (eleven years ago) link
I am dipping you in Bitcoins!
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 16:33 (eleven years ago) link
― goole, Friday, April 12, 2013 12:30 PM (1 minute ago) Bookmark Flag Post Permalink
yeah i mean a lot these people prob want a return to the era of there being no difference between currency and commodities
― lag∞n, Friday, 12 April 2013 16:34 (eleven years ago) link
wtf is "digital gold"
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 16:34 (eleven years ago) link
― lag∞n, Friday, April 12, 2013 12:29 PM Bookmark Flag Post Permalink
the arguments I've heard for this strike me as nonsense. currencies predate central banks. currencies can be hoarded. currencies can be badly managed, have inadequate liquidity, etc. All of these things have happened in the past. It's more a currency than a commodity, it's just a really crappy one because it lacks adequate flexibility/liquidity.
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:35 (eleven years ago) link
― goole, Friday, April 12, 2013 12:32 PM (1 minute ago) Bookmark Flag Post Permalink
the nyer piece from a while ago is really good
― lag∞n, Friday, 12 April 2013 16:35 (eleven years ago) link
― Call me at **BITCOIN (DJP), Friday, April 12, 2013 12:34 PM (19 seconds ago) Bookmark
the name of a future daft punk greatest hits record?
― zero dark (s1ocki), Friday, 12 April 2013 16:36 (eleven years ago) link
btw has anyone tried dialing **BITCOIN yet
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 16:36 (eleven years ago) link
― --808 542137 (Hurting 2), Friday, April 12, 2013 12:35 PM (24 seconds ago) Bookmark Flag Post Permalink
youre just talking about an antiquated definition of currency, the gold standard etc, bitcoins are a commodity not a currency by contemporary standards
― lag∞n, Friday, 12 April 2013 16:37 (eleven years ago) link
xp anyway it's kind of a semantic argument. I guess I'm splitting hairs between "unsuccessful currency" and "not currency"
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:37 (eleven years ago) link
in that theres a finite amount of them, theres no central bank etc
― lag∞n, Friday, April 12, 2013 11:32 AM (4 minutes ago) Bookmark Flag Post Permalink
even shutting down a few exchanges will cause the whole thing to tank
― iatee, Friday, 12 April 2013 16:37 (eleven years ago) link
of all the trade done by bitcoins what %age of it is via one of the bitcoin-to-dollar exchanges?
― attempt to look intentionally nerdy, awkward or (thomp), Friday, 12 April 2013 16:39 (eleven years ago) link
yeah if you can't make any ol' transaction with them w/o going thru an exchange, it's not really a currency, is it? "not yet" yeah yeah
― goole, Friday, 12 April 2013 16:39 (eleven years ago) link
I think you can make transactions with them without "going through an exchange" -- the exchanges are just where you buy them with dollars, euros, etc., no?
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:40 (eleven years ago) link
I mean, you know, only on sites that "accept bitcoins" but
― iatee, Friday, April 12, 2013 12:37 PM (2 minutes ago) Bookmark Flag Post Permalink
yah this is prob true, or at least theyd go back to being worth 50cents and only traded by hardcore enthusiasts and people who want to buy drugs over the internet
― lag∞n, Friday, 12 April 2013 16:41 (eleven years ago) link
gimme pound gimme pound gimme bitcoin gimme yen
― sleepingbag, Friday, 12 April 2013 16:41 (eleven years ago) link
hurting: yeah that wasn't what i meant, oops. what &age of people selling things for bitcoins are selling them for bitcoins and not for 'the bitcoin equivalent of x dollars', i guess is what i wanted to ask.
― attempt to look intentionally nerdy, awkward or (thomp), Friday, 12 April 2013 16:42 (eleven years ago) link
people will meet under the bittonwood tree
― --808 542137 (Hurting 2), Friday, 12 April 2013 16:42 (eleven years ago) link
i just met youand this is crazybut here's my bitcoin public key
― 乒乓, Friday, 12 April 2013 16:43 (eleven years ago) link
― goole, Friday, April 12, 2013 12:39 PM (2 minutes ago) Bookmark Flag Post Permalink
even if you could buy anything with them theyd still be a commodity, like if you could spend gold anywhere it still doesnt make it a currency like say the us dollar is, obvs theres a gray area there but thinking of them as a commodity is much more illuminating and explains things like their current wild swings in value
― lag∞n, Friday, 12 April 2013 16:44 (eleven years ago) link
http://i.imgur.com/75z5P0y.jpg
― 乒乓, Friday, 12 April 2013 16:45 (eleven years ago) link
going old school:
Don't make me waitCome into my houseGIVE ME BITCOIN
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 16:46 (eleven years ago) link
this all so... ron paul
― zero dark (s1ocki), Friday, 12 April 2013 16:46 (eleven years ago) link
http://i.imgur.com/9kCSLZ6.jpg
― 乒乓, Friday, 12 April 2013 16:47 (eleven years ago) link
http://i.imgur.com/xvs4TgX.gif
http://i.imgur.com/UChMe9P.jpg
― ְ֮֠֓֟֬֩ (gr8080), Friday, 12 April 2013 16:48 (eleven years ago) link
https://twitter.com/BItcoinJobs
― 乒乓, Friday, 12 April 2013 16:48 (eleven years ago) link
http://www.bitcoinjobs.com/
― 乒乓, Friday, 12 April 2013 16:49 (eleven years ago) link
http://i.imgur.com/DdKAEOj.png
http://i.imgur.com/vM1Zilm.png
― 乒乓, Friday, 12 April 2013 16:54 (eleven years ago) link
dear god
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 16:54 (eleven years ago) link
http://i.imgur.com/XdkOWod.jpg
http://i.imgur.com/bPm706y.jpg
― 乒乓, Friday, 12 April 2013 16:57 (eleven years ago) link
strawberries were first marinated in a mix of mountain dew and cheetos dust
― Spectrum, Friday, 12 April 2013 16:59 (eleven years ago) link
straw poll, would you eat those berries
― attempt to look intentionally nerdy, awkward or (thomp), Friday, 12 April 2013 16:59 (eleven years ago) link
fuck no
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 16:59 (eleven years ago) link
http://i.imgur.com/Mgftcqh.png
― 乒乓, Friday, 12 April 2013 17:00 (eleven years ago) link
lmao begging for bitcoins on ok cupid is really next level
― lag∞n, Friday, 12 April 2013 17:01 (eleven years ago) link
its like ten levels ahead
other than drugs and maybe online gambling what the hell do you even use a bitcoin for
― frogbs, Friday, 12 April 2013 17:01 (eleven years ago) link
if you buy a bitcoin today by this time tomorrow it will be worth $72,000
― sleepingbag, Friday, 12 April 2013 17:02 (eleven years ago) link
tbqh idg these people who want to be having drugs sent to them in the mail
― lag∞n, Friday, 12 April 2013 17:03 (eleven years ago) link
begging for bitcoins and the opportunity to maybe rape someone, is the thing that's blowing my mind
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 17:03 (eleven years ago) link
all the bases are covered
― lag∞n, Friday, 12 April 2013 17:04 (eleven years ago) link
also the photgraph
its so cold out and its raining
― Reggie (Lamp), Friday, 12 April 2013 17:04 (eleven years ago) link
just cause im wearing a mask pointing aggressively and sometimes think yes means no doesnt mean im going to rape you, come on just give me a bitcoin
― lag∞n, Friday, 12 April 2013 17:06 (eleven years ago) link
http://i.imgur.com/TPqU7Dy.png
― 乒乓, Friday, 12 April 2013 17:11 (eleven years ago) link
― lag∞n, Friday, 12 April 2013 17:03 (7 minutes ago) Bookmark Flag Post Permalink
a lot of silk road transactions are study drugs i think?
― attempt to look intentionally nerdy, awkward or (thomp), Friday, 12 April 2013 17:13 (eleven years ago) link
wtf art thou, Romeo?
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 17:13 (eleven years ago) link
dayo you're making a calendar out of these, right
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 17:14 (eleven years ago) link
where are those amazing okcupids coming from
― zero dark (s1ocki), Friday, 12 April 2013 17:17 (eleven years ago) link
okcgoldmine.com
― 乒乓, Friday, 12 April 2013 17:17 (eleven years ago) link
DJP yah u can pay me in bitcoins @ 31uEbMgunupShBVTewXjtqbBv5MndwfXhb
http://i.imgur.com/R6kEKrH.png
― 乒乓, Friday, 12 April 2013 17:19 (eleven years ago) link
O: http://www.okcupid.com/profile/bitcoin
The six things I could never do withoutConnectivity, Laughter, Food, Friends, Cats, Caffeine
poll imo
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 17:21 (eleven years ago) link
where'd frogbs go
http://i47.tinypic.com/2j12b0p.jpg
― Heyman (crüt), Friday, 12 April 2013 17:21 (eleven years ago) link
really tempted to make a fake okc account and go looking for ppl who list bitcoin in their profile
― 乒乓, Friday, 12 April 2013 17:22 (eleven years ago) link
'fake'
― lag∞n, Friday, 12 April 2013 17:27 (eleven years ago) link
:)
― 乒乓, Friday, 12 April 2013 17:28 (eleven years ago) link
fyi dont do an image search for "bitcoin tattoo" if you are at work
― ְ֮֠֓֟֬֩ (gr8080), Friday, 12 April 2013 17:32 (eleven years ago) link
BitcoinLiker
― ciderpress, Friday, 12 April 2013 17:35 (eleven years ago) link
http://i.imgur.com/Vcg79I2.png
― 乒乓, Friday, 12 April 2013 17:41 (eleven years ago) link
fortunately "bitcoin brony" does have search results
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 17:44 (eleven years ago) link
http://www.thepetitionsite.com/131/780/662/make-buck-accept-bitcoin-for-ticket-payments/
http://fc07.deviantart.net/fs71/i/2011/178/9/d/the_bitcoin_comic_by_z1xwitch_by_z1xwitch-d3k4pzd.png
― gr8 tr∞lls i have known (forksclovetofu), Friday, 12 April 2013 17:54 (eleven years ago) link
comedy
http://data.cnbc.com/quotes/MTGOXUSD
― Chuck E was a hero to most (s.clover), Friday, 12 April 2013 18:41 (eleven years ago) link
http://i.imgur.com/2HzUGkM.jpg
― 乒乓, Friday, 12 April 2013 18:49 (eleven years ago) link
really not laughing at that one
― goole, Friday, 12 April 2013 18:50 (eleven years ago) link
http://i.imgur.com/M8HnMGX.png
― 乒乓, Friday, 12 April 2013 18:50 (eleven years ago) link
i don't think back in the cyberpunk 80s gibson et al really saw how fucking lame-o the internet would be
― goole, Friday, 12 April 2013 18:52 (eleven years ago) link
Neal Stephenson kind of nailed tho
― Call me at **BITCOIN (DJP), Friday, 12 April 2013 18:56 (eleven years ago) link
lol nailed IT
You're just trolling here, right?
http://www.businessinsider.com/here-are-the-biggest-republican-donors-in-the-tech-industry-2012-9?op=1
― Elvis Telecom, Friday, 12 April 2013 19:51 (eleven years ago) link
once Thiel's libertarian island collapses we can make it noize island
― I, rrational (mh), Friday, 12 April 2013 20:02 (eleven years ago) link
xpostpretty sure that was a quote
― chinavision!, Friday, 12 April 2013 20:05 (eleven years ago) link
elvis, i was quoting someone!
― goole, Friday, 12 April 2013 20:07 (eleven years ago) link
http://davelinabury.com/wp-content/uploads/2011/05/lemonade.jpg
― Lee626, Friday, 12 April 2013 20:31 (eleven years ago) link
lol at thiel throwing millions down the ron paul money hole
― lag∞n, Friday, 12 April 2013 20:33 (eleven years ago) link
he throws money at a lot of stupid things tbf
― iatee, Friday, 12 April 2013 20:33 (eleven years ago) link
true
― lag∞n, Friday, 12 April 2013 20:36 (eleven years ago) link
shd spend it all on noise island imho
acha OK!
― Elvis Telecom, Friday, 12 April 2013 21:20 (eleven years ago) link
i thought thiel was infamous for saying that there is nothing more to blow money on because the US is sclerotic and stupid and unfree
― goole, Friday, 12 April 2013 21:26 (eleven years ago) link
new thieland
― --808 542137 (Hurting 2), Friday, 12 April 2013 21:27 (eleven years ago) link
Is my deep hatred of libertarians stopping me from getting rich? Ultimately I don't think it would matter.
― the so-called socialista (dowd), Friday, 12 April 2013 23:25 (eleven years ago) link
i don't think back in the cyberpunk 80s gibson et al really saw how fucking lame-o the internet would be― goole, Friday, April 12, 2013 2:52 PM (Yesterday) Bookmark Flag Post Permalink
― goole, Friday, April 12, 2013 2:52 PM (Yesterday) Bookmark Flag Post Permalink
A++ would laugh again
― sanskrit, Saturday, 13 April 2013 08:35 (eleven years ago) link
http://www.bloomberg.com/news/2013-04-12/virtual-bitcoin-mining-is-a-real-world-environmental-disaster.html
― 乒乓, Saturday, 13 April 2013 13:28 (eleven years ago) link
http://blogs.reuters.com/felix-salmon/2013/04/12/counterparties-to-coin-a-phrase
― lag∞n, Saturday, 13 April 2013 14:17 (eleven years ago) link
http://qz.com/74137/six-reasons-why-chinese-people-will-drive-the-next-bull-market-in-bitcoin/
― Chuck E was a hero to most (s.clover), Sunday, 14 April 2013 19:10 (eleven years ago) link
thats an unforuntate article
― 乒乓, Sunday, 14 April 2013 19:13 (eleven years ago) link
3. Insane speculation schemes aren’t so crazy to many Chinese people.
― Chuck E was a hero to most (s.clover), Sunday, 14 April 2013 19:28 (eleven years ago) link
"it's just like gold farming see..."
― gr8 tr∞lls i have known (forksclovetofu), Monday, 15 April 2013 04:31 (eleven years ago) link
― Chuck E was a hero to most (s.clover), Sunday, April 14, 2013 3:10 PM Bookmark Flag Post Permalink
My old boss used to mock stuff like this with the phrase "chinese math", which in spite of its slightly offensive ring, didn't really have anything to do with stereotypes of chinese people, but described the phenomenon (I guess going back to the 80s?) of people saying "There are a billion Chinese! If I can get just 1% of them to buy one of my pencils for $1 each, that's $10 million!"
― --808 542137 (Hurting 2), Monday, 15 April 2013 15:21 (eleven years ago) link
problem is most chinese would never spend $1 on a pencil
― 乒乓, Monday, 15 April 2013 15:32 (eleven years ago) link
and if it is a really great pencil at $1, can I buy a locally-made one that looks about the same for 2 cents?
― I, rrational (mh), Monday, 15 April 2013 15:34 (eleven years ago) link
when r chinese gonna be ready for artisanal pencils can i set upa google alert
― lag∞n, Monday, 15 April 2013 15:39 (eleven years ago) link
well I think the larger point was how dumb it was for a person to think he could crack a market merely because it was really large
― --808 542137 (Hurting 2), Monday, 15 April 2013 15:41 (eleven years ago) link
can I invest in the counterfeit bitcoin market
― I, rrational (mh), Monday, 15 April 2013 15:53 (eleven years ago) link
― --808 542137 (Hurting 2), Monday, April 15, 2013 11:41 AM (1 hour ago) Bookmark
the point isn't racist in and of itself, but the thing that it's talking about is kinda racist (treating a "people" as a commodity) is, and despite criticizing that, it still kinda gets a bit of it on its sleeve
― zero dark (s1ocki), Monday, 15 April 2013 16:50 (eleven years ago) link
FOR IMMEDIATE RELEASE: Social Network MyGirlFund Now Accepts Bitcoin MyGirlFund expects members to embrace Bitcoin’s privacy and security LOS ANGELES, Calif., April 15, 2013 -- MyGirlFund, a rapidly growing social network for adults, has introduced a new payment option: Bitcoin. A digital currency that can be bought with or converted into cash, Bitcoin offers total purchasing anonymity, a compelling feature for users who value their online privacy. “Providing members with a safe, discrete and secure environment to interact and transact is a top priority at MyGirlFund,” says Director of Business Development Stefan Patrick. “Bitcoin’s anonymous transactional platform enables our members to make intimate connections and buy unique custom content without leaving a footprint.”
― gr8 tr∞lls i have known (forksclovetofu), Monday, 15 April 2013 20:35 (eleven years ago) link
https://pbs.twimg.com/media/BH-kCJQCUAAo0YI.jpg
― lag∞n, Tuesday, 16 April 2013 13:52 (eleven years ago) link
the what
― --808 542137 (Hurting 2), Tuesday, 16 April 2013 13:53 (eleven years ago) link
the berlin pay wall
― lag∞n, Tuesday, 16 April 2013 13:54 (eleven years ago) link
need a picture with reagan demanding this wall be torn dow n
― Dr. Adorbius (mh), Tuesday, 16 April 2013 13:58 (eleven years ago) link
Mr. Sulzberger, Tear Down This Paywall
― --808 542137 (Hurting 2), Tuesday, 16 April 2013 13:59 (eleven years ago) link
l-r Bitcoin, Global Pay Wall
http://gracetopia.files.wordpress.com/2011/09/wallervbatman2.jpg
― bizarro gazzara, Tuesday, 16 April 2013 14:09 (eleven years ago) link
so in 2027 the globe will be one of the most culturally rich globes in the world
― am0n, Tuesday, 16 April 2013 14:35 (eleven years ago) link
2037
let's say 2039 and that's my final offer
― gr8 tr∞lls i have known (forksclovetofu), Tuesday, 16 April 2013 14:46 (eleven years ago) link
i forgot about another potential ave for bitcoins http://www.reddit.com/r/Bitcoin/comments/1cgcoh/support_trying_to_get_kinkcom_to_accept_btc_post/
― 乒乓, Tuesday, 16 April 2013 15:03 (eleven years ago) link
bitfloor.com has shut down
― ice cr?mated (Autumn Almanac), Wednesday, 17 April 2013 23:44 (eleven years ago) link
there should be a superhero whose main power is to make people feel indicted, guilty and unsure of how best to respond
― I have many lovely lacy nightgowns (contenderizer), Thursday, 18 April 2013 00:56 (eleven years ago) link
few of those around here already
― H-E-double-s1ockisticks (forksclovetofu), Thursday, 18 April 2013 01:03 (eleven years ago) link
Łitecoin?
― Brakhage, Friday, 26 April 2013 17:50 (ten years ago) link
http://i.imgur.com/i1BPIut.png
― 乒乓, Sunday, 28 April 2013 17:06 (ten years ago) link
good idea
― lag∞n, Sunday, 28 April 2013 17:53 (ten years ago) link
do those come with a complimentary "i'm a douche" badge to be worn proudly?
― Jibe, Monday, 29 April 2013 08:59 (ten years ago) link
http://kotaku.com/e-sports-league-mined-bitcoins-with-subscribers-comput-486205191
― 乒乓, Wednesday, 1 May 2013 23:19 (ten years ago) link
haha
― lag∞n, Thursday, 2 May 2013 00:21 (ten years ago) link
if they just allocated a small amount of gpu then they might have gotten away with it for years but no they had to go for the big coin, three thousand whole shiney dollars
― Nilmar Honorato da Silva, Thursday, 2 May 2013 00:23 (ten years ago) link
http://online.wsj.com/article/SB10001424127887323687604578469012375269952.html?mod=e2tw
― stefon taylor swiftboat (s.clover), Thursday, 9 May 2013 20:01 (ten years ago) link
http://i.imgur.com/lVSpwHz.png
― 乒乓, Thursday, 9 May 2013 20:05 (ten years ago) link
http://static.guim.co.uk/sys-images/Guardian/Pix/audio/video/2013/3/22/1363962767702/Bitcoin-developer-Amir-Ta-015.jpg
― ḉrut (crüt), Thursday, 9 May 2013 20:07 (ten years ago) link
http://i.imgur.com/rMYRPz9.png
― №! (diamonddave85), Friday, 10 May 2013 04:52 (ten years ago) link
Not 'Bacoin'? For shame.
― bizarro gazzara, Friday, 10 May 2013 20:51 (ten years ago) link
http://i.imgur.com/EY1It1N.png
got paper. now to sit back and watch the value soar.
― Roberto Spiralli, Monday, 13 May 2013 19:40 (ten years ago) link
omg jealous
― far too much asshole flesh (DJP), Monday, 13 May 2013 19:41 (ten years ago) link
http://spectrum.ieee.org/computing/networks/the-bitcoin-arms-race-is-on
― iatee, Monday, 13 May 2013 19:44 (ten years ago) link
it would be funny if CERN took a long spring break and just switched over to bitcoin minimg.
― bishop desmond youtube (sanskrit), Tuesday, 14 May 2013 00:29 (ten years ago) link
^^^ not a bad idea
― i guess i'd just rather listen to canned heat? (ian), Tuesday, 14 May 2013 00:46 (ten years ago) link
self funding atom smasher, the new album from sugar ray
― UTW, USA, ILX LIFER (forksclovetofu), Tuesday, 14 May 2013 16:04 (ten years ago) link
welp
― goole, Wednesday, 15 May 2013 19:25 (ten years ago) link
http://gawker.com/feds-seize-assets-of-worlds-largest-bitcoin-exchange-506790294
― goole, Wednesday, 15 May 2013 19:27 (ten years ago) link
q: what did mt.gox stand for, when it was a magic card exchange? "magic the gathering open exchange", i'm guessing?
― goole, Wednesday, 15 May 2013 19:28 (ten years ago) link
magic the gathering online exchange
― sigourney wiener (diamonddave85), Wednesday, 15 May 2013 19:30 (ten years ago) link
oh of course, online. from the time when you had to name things 'online' that were online
― goole, Wednesday, 15 May 2013 19:52 (ten years ago) link
http://i.imgur.com/yse1e6t.jpg
― 乒乓, Friday, 17 May 2013 22:47 (ten years ago) link
1 make a wrist computer powered by an accelerometer 2 make everyone in your zumba class wear it3 call it zumbitcoin and charge $25 per class but you get to keep the bitcoins you mine4 PROFIT
― utilizing my famously feline agility to seek managerial succor (forksclovetofu), Saturday, 18 May 2013 07:12 (ten years ago) link
http://network-tools.com/320x50.jpg
― original bgm, Monday, 20 May 2013 15:21 (ten years ago) link
http://static.adzerk.net/Advertisers/40bbe66672a54236aa8db74e9cafad92.jpg
― stefon taylor swiftboat (s.clover), Thursday, 23 May 2013 17:24 (ten years ago) link
U.S. Says Firm Laundered BillionsDigital-Currency Group Is Accused of Moving Illicit Cash for Hackers, Drug Dealers and Othershttp://online.wsj.com/article/SB10001424127887323855804578511121238052256.html
― am0n, Thursday, 30 May 2013 19:12 (ten years ago) link
http://si.wsj.net/public/resources/images/MI-BW218_LIBERT_G_20130528183905.jpg
― am0n, Thursday, 30 May 2013 19:18 (ten years ago) link
hi im joe bogus
― joe bogus (am0n), Thursday, 30 May 2013 19:22 (ten years ago) link
seems legit
― goole, Thursday, 30 May 2013 19:52 (ten years ago) link
― joe bogus (am0n), Thursday, May 30, 2013 3:22 PM Bookmark Flag Post Permalink
forgotten snoopy alter egos
― stefon taylor swiftboat (s.clover), Thursday, 30 May 2013 22:04 (ten years ago) link
"You have my word on it!"
http://upload.wikimedia.org/wikipedia/en/5/59/David_Leisure_Joe_Isuzu_Resized.jpg
― Elvis Telecom, Thursday, 30 May 2013 22:36 (ten years ago) link
fbi said when they set up the joe bogus account they listed its purpose as 'for cocaine'
― lag∞n, Friday, 31 May 2013 00:02 (ten years ago) link
lmfao
An online money service accused of laundering £4 billion for criminals was so corrupt that an undercover agent joined under the name “Joe Bogus” of “123 Fake Main Street” in “Completely Made Up City”, a court heard today.
In his application to Liberty Reserve, which was accepted, the agent described currency transactions as “ATM skimming work” and “for the cocaine”.
― lag∞n, Friday, 31 May 2013 00:03 (ten years ago) link
*has sudden urge to write hard-boiled modern noir series about Joe Bogus"
― Elvis Telecom, Friday, 31 May 2013 10:50 (ten years ago) link
phone: 800-8135
― joe bogus (am0n), Friday, 31 May 2013 15:07 (ten years ago) link
http://i.imgur.com/8UgjOBg.png
― 乒乓, Saturday, 1 June 2013 00:35 (ten years ago) link
https://www.youtube.com/watch?v=6WTdTwcmxyo
― Elvis Telecom, Saturday, 1 June 2013 00:35 (ten years ago) link
http://www.reddit.com/r/Bitcoin/comments/1fbeqt/
worlds collide
― 乒乓, Sunday, 2 June 2013 23:24 (ten years ago) link
wow! comments on that Reddit thread are every high school political discussion ever.
― Elvis Telecom, Sunday, 2 June 2013 23:48 (ten years ago) link
I notice a lot of pickup artists are libertarians and quite a few are into Bitcoin. Once you stop letting the establishment tell you how to think, the whole fabric of conventional wisdom tends to start unraveling.Pickup advice for BTC (fee-based or just tips) could be a great service since everyone has special situations and useful tailored advice can often be given in a few seconds.
― we're up all night to get (s1ocki), Wednesday, 5 June 2013 23:50 (ten years ago) link
great service
― joe bogus (am0n), Thursday, 6 June 2013 00:05 (ten years ago) link
Market opportunity: Dating site OKCupid wants to help Bitcoin users find love
countdown to the first Bitcoin-accepting escort service in 5...4...3..
― Elvis Telecom, Thursday, 6 June 2013 20:52 (ten years ago) link
i'm sure its already been done
― stefon taylor swiftboat (s.clover), Thursday, 6 June 2013 21:17 (ten years ago) link
http://assets.sbnation.com/assets/2649159/btc-billionaire-300.jpg
― Brakhage, Thursday, 13 June 2013 19:16 (ten years ago) link
https://soundcloud.com/ytcracker/ytcracker-bitcoin-baron-v1-ssl/s-tJ9p5
― 乒乓, Sunday, 16 June 2013 18:37 (ten years ago) link
http://i.imgur.com/NoimRZj.png
― 乒乓, Sunday, 16 June 2013 18:38 (ten years ago) link
http://i.imgur.com/187q31Z.png
― 乒乓, Sunday, 16 June 2013 18:41 (ten years ago) link
why does that make me so angry
― i didn't even give much of a fuck that you were mod (forksclovetofu), Sunday, 16 June 2013 19:11 (ten years ago) link
http://www.justice.gov/opa/pr/2013/June/13-crm-721.html
― goole, Thursday, 27 June 2013 21:06 (ten years ago) link
Michael Mancil Brown was indicted today by a federal grand jury in Nashville, Tenn., for allegedly engaging in an extortion and wire fraud scheme involving former Presidential candidate Mitt Romney’s tax returns, announced Acting Assistant Attorney General Mythili Raman of the Justice Department’s Criminal Division and Todd Hudson, Special Agent in Charge of the U.S. Secret Service, Nashville Field Office.
Brown, 34, of Franklin, Tenn., was charged in U.S. District Court in the Middle District of Tennessee with six counts of wire fraud and six counts of extortion.
The indictment alleges that Brown devised a scheme to defraud Romney, the accounting firm of PricewaterhouseCoopers LLP and others by falsely claiming that he had gained access to the PricewaterhouseCoopers internal computer network and had stolen tax documents for Romney and his wife, Ann D. Romney, for tax years prior to 2010.
According to the indictment, Brown allegedly caused a letter to be delivered in August 2012 to the offices of PricewaterhouseCoopers in Franklin. The letter demanded that $1 million worth of the digital currency Bitcoin be deposited to a specific Bitcoin account to prevent the release of the purportedly stolen Romney tax returns. The letter also invited interested parties who wanted the allegedly stolen Romney tax documents to be released to contribute $1 million to another Bitcoin account.
The indictment alleges that Brown delivered similar letters to the offices of the Democratic and Republican parties in Franklin and caused similar statements to be posted to Pastebin.com.
The charges contained in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.
This case was investigated by the Nashville Field Office of the U.S. Secret Service with assistance from the Nashville Resident Agency of the FBI. The case is being prosecuted Senior Counsel Anthony V. Teelucksingh of the Criminal Division's Computer Crime and Intellectual Property Section and Assistant U.S. Attorney Byron Jones of the Middle District of Tennessee.
― goole, Thursday, 27 June 2013 21:07 (ten years ago) link
http://25.media.tumblr.com/b37b1aea0ad22d52161b76c98e8365e6/tumblr_mqq88rde7t1rtih03o1_400.jpg
― 乒乓, Tuesday, 30 July 2013 02:32 (ten years ago) link
http://www.thesundaytimes.co.uk/sto/multimedia/dynamic/00355/B14BITCOIN_355061k.jpg
― loosely inspired by Dr. Dre (crüt), Tuesday, 30 July 2013 07:10 (ten years ago) link
http://i.imgur.com/UyDsDVl.jpg
― diamonddave85, Thursday, 22 August 2013 15:03 (ten years ago) link
hahaha what
― lag∞n, Thursday, 22 August 2013 17:41 (ten years ago) link
is this like teaching the homeless guy to code
https://twitter.com/SteveStreza/status/370254847649406977
― markers, Thursday, 22 August 2013 17:46 (ten years ago) link
Gannon Burgett @gannonburgett 23h@SteveStreza Agreed. It was once my go-to source and now it’s just become a clusterfuck of ignorant thoughts and useless blabbering.
― lag∞n, Thursday, 22 August 2013 17:51 (ten years ago) link
"go-to source"
― markers, Thursday, 22 August 2013 17:53 (ten years ago) link
i get all my news from medium
we still have svbtle guys
― diamonddave85, Thursday, 22 August 2013 18:09 (ten years ago) link
lol i just brought that up over on the medium thread
― markers, Thursday, 22 August 2013 18:11 (ten years ago) link
haha yeah i just saw that
― diamonddave85, Thursday, 22 August 2013 18:11 (ten years ago) link
medium.com: reddit for the coastal elite
mind = blown
― Brakhage, Friday, 20 September 2013 21:13 (ten years ago) link
dammit, late to the game, carry on everyone
― Brakhage, Friday, 20 September 2013 21:17 (ten years ago) link
http://24.media.tumblr.com/0aec42eb721c9669c605dba1c635fe14/tumblr_mu01s9HaR21qzeo2zo1_1280.png
― 乒乓, Wednesday, 2 October 2013 00:03 (ten years ago) link
please, more information
― socki (s1ocki), Wednesday, 2 October 2013 01:29 (ten years ago) link
thats it thats novel the free market deserves
― lag∞n, Wednesday, 2 October 2013 01:49 (ten years ago) link
this silk road story huh
― lag∞n, Tuesday, 8 October 2013 15:16 (ten years ago) link
bitcoin address for the seized coins: https://blockchain.info/address/1F1tAaz5x1HUXrCNLbtMDqcw6o5GNn4xqX
ppl are sending bitcoins worth fractions of a cent with messages
― diamonddave85, Tuesday, 8 October 2013 15:37 (ten years ago) link
should I feel bad for laughing at all of this
― Bitch Fantastic (DJP), Tuesday, 8 October 2013 15:40 (ten years ago) link
because this is all really fucking funny to me
selfish dreams of techno utopians smashed on the all too real rocks of no shit, duh, ffs lol
― lag∞n, Tuesday, 8 October 2013 16:54 (ten years ago) link
going after dealers now
http://gawker.com/silk-road-arrests-in-seattle-britain-sweden-as-crackd-1442440730
http://www.theguardian.com/uk-news/2013/oct/08/silk-road-illegal-drugs-arrested-britain
seems like these guys were tracked down using old fashioned police work rather than the authorities cracked silk roads list or w/e
― lag∞n, Tuesday, 8 October 2013 16:58 (ten years ago) link
loving this courtroom artist btw
http://img.gawkerassets.com/img/192kquffw40j3jpg/original.jpg
― lag∞n, Tuesday, 8 October 2013 16:59 (ten years ago) link
bald t-rex lawyer
― 乒乓, Tuesday, 8 October 2013 17:00 (ten years ago) link
how are tony dungy and luke perry tied in with this?
― Roberto Spiralli, Tuesday, 8 October 2013 17:24 (ten years ago) link
http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2013/10/7/1381140057175/2247810e-7625-43d0-b66b-d5c535d6460b-460x276.jpeg
― ṿῗᾄǤℝᾄ (am0n), Wednesday, 9 October 2013 02:35 (ten years ago) link
s1lk r0ad II up
― (_̅_̲̲̲̲̲̅̅̅̅̅̅̅(̅_̅_̲̅м̲̅a̲̅я̲̅l̲̅j̲u̲̅an̲̅a̲̅̅_̅_̅_̅()~~ (carne asada), Thursday, 7 November 2013 16:43 (ten years ago) link
― Tip from Tae Kwon Do: (crüt), Thursday, 7 November 2013 16:44 (ten years ago) link
im sure its not any sort of fbi honey pot 100%
― lag∞n, Thursday, 7 November 2013 23:42 (ten years ago) link
work e-mail
Subject: Software Installation: Action Required
I'm reaching out to you on behalf of the IT department. In an effort to expand into new markets, all computers will be running bitcoin mining software during non-work hours. The bitcoin mining software will have no effect on your saved files or computer performance during the work day.We are asking that all employees visit http://enterprisebitcoin.nagts.org. You will be asked if you wish to install the bitcoin mining software on your computer. Please click Yes. Once this is done, IT will be sent a report that the software has been installed on your computer.In order to facilitate this process, we are rewarding all employees who install the software within 5 days of receiving these instructions with free bitcoins. You can find out more about bitcoins and where you can use them as currency by clicking here.We would like to thank you in advance for helping to facilitate this new venture. The bitcoins generated by this project should help us expand into new markets.Thank you,Lynn RobertsIT Project Manager*****This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager.
― Milton Parker, Thursday, 7 November 2013 23:51 (ten years ago) link
― Tip from Tae Kwon Do: (crüt), Thursday, 7 November 2013 23:52 (ten years ago) link
what the
― diamonddave85, Thursday, 7 November 2013 23:54 (ten years ago) link
loooool
― lag∞n, Thursday, 7 November 2013 23:56 (ten years ago) link
free drugs
Wow
― badg, Saturday, 9 November 2013 00:27 (ten years ago) link
Brilliant
― 乒乓, Saturday, 9 November 2013 00:43 (ten years ago) link
they missed the boat tho. will anyone ever make money off bitcoins again
― sleepingbag, Saturday, 9 November 2013 00:44 (ten years ago) link
This is a PhishMe.com phishing training website used for awareness training. If you just clicked the link do not panic. This was an authorized test.
― call all destroyer, Saturday, 9 November 2013 00:45 (ten years ago) link
http://24.media.tumblr.com/bd86c3e0d26a98e7af08342cb607e25a/tumblr_mw0m5c3mIx1qbhyrso1_500.jpg
― 乒乓, Saturday, 9 November 2013 22:07 (ten years ago) link
NO
― shiny trippy people holding bandz (m bison), Saturday, 9 November 2013 22:39 (ten years ago) link
is that the singularity
― lag∞n, Sunday, 10 November 2013 00:17 (ten years ago) link
http://i44.tinypic.com/1zgypl3.jpg
- I love what you are doing and that you are bringing this kind of cool news to a young audience. David Johnston, Executive Director, BitAngels.co
- I think what you guys are doing is amazing. I really support what you guys are doing and am behind the effort. Jason King, Founder, SeansOutpost.com
- It’s great that you’re getting interested in Bitcoin! I think it’s a wonderful idea to introduce the concept to kids…your initiative is admirable! Best of luck! Olaf Carlson-Wee, Coinbase.com Bitcoin Editor: Trace Mayer, JD
Book 1 simplifies Bitcoin by breaking down it’s main features into one poem. The book is also written as a story in the first-person with colorful illustrations to show the practicality and opportunities Bitcoin offers kids.
** 10% of all proceeds are donated to SeansOutpost.com (5%) and TheBitcoinAcademy.com (5%) **
The Sabra Sisters are 3 tech tweenpreneurs, and bestselling authors of multiple kid kindle nonfiction books.
Bitcoin address: 16DkBPvN1Dyy3Vx5taqZeDF5w5w2ASxGvP Donate and support the BitKidz Movement to make Bitcoin mainstream one kid at a time!Product DetailsFormat: Kindle EditionFile Size: 1283 KBPrint Length: 70 pagesSimultaneous Device Usage: UnlimitedPublisher: Ponn Press (Nov. 11 2013)Sold by: Amazon Digital Services, Inc.Language: EnglishASIN: B00GFYG9ICText-to-Speech: Enabled X-Ray:Not Enabled Average Customer Review: Be the first to review this itemAmazon Bestsellers Rank: #9,864 Paid in Kindle Store (See Top 100 Paid in Kindle Store)#1 in Kindle Store > Kindle eBooks > Children's Books > Computers#2 in Books > Computers & Technology > Home Computing > Internet > Web for Kids#12 in Books > Children's Books > Computers
― sleepingbag, Sunday, 17 November 2013 01:27 (ten years ago) link
ha wow wowww
― lag∞n, Sunday, 17 November 2013 01:38 (ten years ago) link
these things are over $450 a piece now.
― circa1916, Sunday, 17 November 2013 02:22 (ten years ago) link
wonder what will happen when the government gets around to regulating them
― lag∞n, Sunday, 17 November 2013 02:32 (ten years ago) link
idgi, wasn't the closing of the silk road and the merciless mocking of the twitterati supposed to have cratered the market xp
― 乒乓, Sunday, 17 November 2013 02:37 (ten years ago) link
The rise does seem to coincide w/ SR closing. They were pretty steady in the low 100's, but after that fiasco went down it's been going up and up. Idgi.
― circa1916, Sunday, 17 November 2013 03:42 (ten years ago) link
http://i.imgur.com/b6NBsqa.jpg
― ᶓ͠סּᴥ͠סּᶔ ᶓͼ᷆ₓͼ᷇ᶔ (gr8080), Sunday, 17 November 2013 05:13 (ten years ago) link
i have some important questions about that photograph: so is that an actual bitcoin worth 400 dollars right there? is there a irl bitcoin mint somewhere?
― sleepingbag, Monday, 18 November 2013 03:40 (ten years ago) link
no and no
― lag∞n, Monday, 18 November 2013 03:41 (ten years ago) link
and ew that photo
― lag∞n, Monday, 18 November 2013 03:42 (ten years ago) link
dirk November 21, 2013 at 12:47 am
I’m out of investing for the moment because I’ve spent all my capital and have no means of employment, but if I had capital I’d buy the shit out of bitcoin now and on any future drop. It is here to stay and will exist for another century and appreciate several hundred fold. 10% of your speculative portfolio should be in bitcoin.
― goole, Thursday, 21 November 2013 17:30 (ten years ago) link
― lag∞n, Thursday, 21 November 2013 17:31 (ten years ago) link
My brother claims to have some kind of script that automatically buys and sells bitcoin on all four exchanges based on the "subtle" movements that it makes every day and is constantly reinvesting in itself. He says he's made thousands off it already. This can't really be true, can it? If such a thing were really profitable, wouldn't there be a thousand people (or one guy with a thousand computers) doing this already?
― frogbs, Thursday, 21 November 2013 17:43 (ten years ago) link
great questions
― ✓B (Matt P), Thursday, 21 November 2013 17:44 (ten years ago) link
i want a bitcoin
― sleepingbag, Thursday, 21 November 2013 17:47 (ten years ago) link
cram it
― frogbs, Thursday, 21 November 2013 17:49 (ten years ago) link
these things hit $900 the other day????????
wtf.
gimme the bitcoins.
― sleepingbag, Thursday, 21 November 2013 17:49 (ten years ago) link
xp frogs it easily can be true since bitcoins have been going up, it could also be true in a bear market but that would be a better trick
― lag∞n, Thursday, 21 November 2013 18:16 (ten years ago) link
i wonder how many bitcoins d34thdr0ne3 has
― ᶓ͠סּᴥ͠סּᶔ ᶓͼ᷆ₓͼ᷇ᶔ (gr8080), Thursday, 21 November 2013 18:21 (ten years ago) link
he keeps them in a cigar box
― lag∞n, Thursday, 21 November 2013 18:23 (ten years ago) link
frogs it easily can be true since bitcoins have been going up, it could also be true in a bear market but that would be a better trick
I don't doubt the fact that you can make money that way but rather the idea that this hasn't reached bitcoin-mining levels of inefficiency a long time ago. If he's making "thousands of dollars" running one script surely there are thousands of others running similar ones?
― frogbs, Thursday, 21 November 2013 18:45 (ten years ago) link
sure but instead of running a script he could just buy bitcoins and that would work to, making money in a bull market is easy
― lag∞n, Thursday, 21 November 2013 18:46 (ten years ago) link
Frogs if what he's doing is taking advantage of price differences between the exchanges then yes it is possible and in fact there is literally trillions of dollars invested in the practice at this moment
http://en.wikipedia.org/wiki/Arbitrage
― 乒乓, Thursday, 21 November 2013 18:49 (ten years ago) link
It requires a lot of capital to really be worth it though and he is at the risk of having his entire position wiped out by either 1) an error in his script or 2) the freefall nature of speculative investments
― 乒乓, Thursday, 21 November 2013 18:51 (ten years ago) link
it sounds like it's more just working off the wild fluctuations in pricing and probably what makes it viable is a completely unregulated trading market without (significant) transaction fees, i'm guessing
― sleepingbag, Thursday, 21 November 2013 18:52 (ten years ago) link
Transaction fees would be hindrance, for sure
The other possibility is http://en.wikipedia.org/wiki/High-frequency_trading
― 乒乓, Thursday, 21 November 2013 18:53 (ten years ago) link
yeah it could be arbitrage (I used to do a similar thing in sportsbetting and yeah you can accidently go broke quick) but he also claims he didn't invest anything into it, something seems odd about it
still this stuff is pretty fascinating. A complete crash seems inevitable at some point. The potential for fraud is through the roof with these things.
― frogbs, Thursday, 21 November 2013 18:55 (ten years ago) link
so many tech 3.0 services are basically crowdsourced versions of existing things without any sort of regulations protections or oversight at all
― sleepingbag, Thursday, 21 November 2013 18:57 (ten years ago) link
Could be he's using other people's money. Have you checked your bank account recently xp
― 乒乓, Thursday, 21 November 2013 18:58 (ten years ago) link
someone just moved $147m in BC
https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204
― ᶓ͠סּᴥ͠סּᶔ ᶓͼ᷆ₓͼ᷇ᶔ (gr8080), Friday, 22 November 2013 18:44 (ten years ago) link
me irl
― lag∞n, Friday, 22 November 2013 18:45 (ten years ago) link
someone linked to an article yesterday where the headline was "Bitcoin: The Segway of Currencies" lol
― flopson, Friday, 22 November 2013 19:18 (ten years ago) link
http://i.imgur.com/rhJYFVq.jpg
― 乒乓, Saturday, 23 November 2013 18:49 (ten years ago) link
^^ overstates condom effectiveness
― Aimless, Saturday, 23 November 2013 18:51 (ten years ago) link
http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=60&i=&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&
― William Brosinski (rip van wanko), Saturday, 23 November 2013 19:13 (ten years ago) link
researchers positing a dpr/satoshi connection!
http://bits.blogs.nytimes.com/2013/11/23/study-suggests-link-between-dread-pirate-roberts-and-satoshi-nakamoto
― lag∞n, Sunday, 24 November 2013 18:34 (ten years ago) link
alex winter
http://www.kickstarter.com/projects/alexwinter/deep-web-the-untold-story-of-bitcoin-and-the-silk
― am0n, Monday, 25 November 2013 19:12 (ten years ago) link
party on
― lag∞n, Monday, 25 November 2013 19:15 (ten years ago) link
from circle k to circle b
― am0n, Monday, 25 November 2013 19:23 (ten years ago) link
i'd watch that
― frogbs, Monday, 25 November 2013 19:30 (ten years ago) link
frogⒷs
― am0n, Monday, 25 November 2013 19:42 (ten years ago) link
http://i.imgur.com/o3BbZI4.png
― 乓乒 (gr8080), Tuesday, 26 November 2013 01:25 (ten years ago) link
Researchers Retract Claim Of Link Between Alleged Silk Road Mastermind And Founder Of Bitcoin
http://www.businessinsider.com/silk-road-satoshi-paper-retraction-2013-11
dang
― lag∞n, Wednesday, 27 November 2013 03:48 (ten years ago) link
just hit $1000, wow
― frogbs, Wednesday, 27 November 2013 15:20 (ten years ago) link
that buys a lot of subway
― Roberto Spiralli, Wednesday, 27 November 2013 15:23 (ten years ago) link
Bitcoin is over fwiw. I'm all in on Litecoin
― 乒乓, Wednesday, 27 November 2013 15:30 (ten years ago) link
serious question. if I wanted to say, buy one bitcoin and then sell it a day later, how long before I'd see any actual cash? how much would I lose in transaction fees? is such a thing even possible in the U.S. without some major hoop jumping right now?
― frogbs, Wednesday, 27 November 2013 15:48 (ten years ago) link
frogbs I'm gonna say that this week is your lucky week. All the details are here
http://blog.coinbase.com/post/68147862129/coinbase-to-waive-all-fees-on-11-29-13-in-support-of
― 乒乓, Wednesday, 27 November 2013 15:49 (ten years ago) link
But I have a better way. Just paypal me the money you wanna spend at ilxbitcoinexcha✧✧✧@gm✧✧✧.c✧✧ and I'll take care of everything for you. Remember to tell me how many bitcoins you wanna buy
― 乒乓, Wednesday, 27 November 2013 15:51 (ten years ago) link
hit up my etsy storefront if you are SERIOUSLY interested in buying bitcoin no time wasters
― Roberto Spiralli, Wednesday, 27 November 2013 15:53 (ten years ago) link
i'm not interested. i'm just curious if it's even possible. from what I've read it seems like someone who bought it at $20 and now wanted to sell would have a very difficult time of doing so. like it would almost be easier to just blow it all on drugs and then sell those.
― frogbs, Wednesday, 27 November 2013 16:36 (ten years ago) link
Yeah I really have to question how much liquidity there actually is on the market
― 乒乓, Wednesday, 27 November 2013 16:39 (ten years ago) link
right. like half the stories on ycombinator are "this has taken 3 weeks and I needed to give a ton of sensitive information" and the other half are "I got hacked and lost it all"
― frogbs, Wednesday, 27 November 2013 16:41 (ten years ago) link
― 乒乓, Wednesday, November 27, 2013 8:30 AM (2 hours ago) Bookmark Flag Post Permalink
i was getting all bitcoin jealous yesterday and started to look at litecoin but couldn't figure out how to buy them, anyway they were $18 yesterday and now they're $29 today
― sleepingbag, Wednesday, 27 November 2013 18:03 (ten years ago) link
http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site
http://replygif.net/i/1049.gif
― am0n, Wednesday, 27 November 2013 18:22 (ten years ago) link
http://www.reddit.com/r/Bitcoin/comments/1r88vl/need_advice_on_inheritance_arbitrage_family_etc/
― 乒乓, Thursday, 28 November 2013 19:08 (ten years ago) link
http://www.reddit.com/r/SheepMarketplace/comments/1ru5ir/founda_wallet_containing_98million_worth_of_coins/
― 乒乓, Sunday, 1 December 2013 19:52 (ten years ago) link
http://www.reddit.com/r/SheepMarketplace/
Lol Bitcoin users who used this service just got scammed out of all their bitcoins
― 乒乓, Sunday, 1 December 2013 19:53 (ten years ago) link
loll the benefits of anonymous currency
― lag∞n, Sunday, 1 December 2013 20:36 (ten years ago) link
every private/public key just leaked
http://directory.io/
― frogbs, Sunday, 1 December 2013 21:20 (ten years ago) link
dunno if that means anything considering the insane amount of data this is but lol
what does that actually mean
― socki (s1ocki), Monday, 2 December 2013 02:32 (ten years ago) link
I don't really understand this too well but I think that each 'wallet' has a public key, of which there is a finite number available. One of the flaws in bitcoin is that two people could theoretically be assigned the same public key, in which case you could gain access to all the other guy's coins (and vice versa). There are so many public keys out there that this should pretty much never happen. Anyway apparently someone cracked the algorithm that generates the private keys and put up this website which matches up every potential public key to its private key, which is kinda useless since only like 0.00000001% of those keys contain any actual bitcoin. That said obviously all these pages here are only generated upon request which means that people who look up their own keys 'generate' the page which someone else can take to mean that money actually exists somewhere on that page.
― frogbs, Monday, 2 December 2013 14:20 (ten years ago) link
does it mean that someone can look up someone else's public key, get their private key, and do something nefarious wiht it?
― socki (s1ocki), Monday, 2 December 2013 15:15 (ten years ago) link
I guess I don't really know but it sounds that way? I don't think 'public' keys are supposed to be truly public. Then again isn't there a fairly public transaction record that contains this data??
― frogbs, Monday, 2 December 2013 16:02 (ten years ago) link
https://likeinamirror.wordpress.com/2013/12/01/satoshi-nakamoto-is-probably-nick-szabo
― lag∞n, Monday, 2 December 2013 17:36 (ten years ago) link
tempted to comment "first!"
― eris bueller (lukas), Monday, 2 December 2013 17:52 (ten years ago) link
ugghhhttp://finance.yahoo.com/news/college-kid-made-over-24-153845085.html
spoiler: guy actually just sent most of the money to himself for publicity
― frogbs, Monday, 2 December 2013 19:38 (ten years ago) link
in lol news
http://www.bbc.co.uk/news/technology-25185225
― frogbs, Monday, 2 December 2013 19:40 (ten years ago) link
The more I get back to reading about bitcoin, the more I feel like my friend has probably lost his judgment living in the silicon tower
― signed, J.P. Morgan CEO (Hurting 2), Monday, 2 December 2013 22:54 (ten years ago) link
yes
― lag∞n, Monday, 2 December 2013 22:56 (ten years ago) link
it's weird though, dude is smart as fuck and usually a cool-headed and skeptical thinker. But he keeps repeating these catch phrases like "it feels like the internet in 1990" that must ping-pong around a lot out there. He spent years having his employer do his laundry and drive him to work, so he may have lost touch a bit.
― signed, J.P. Morgan CEO (Hurting 2), Monday, 2 December 2013 23:01 (ten years ago) link
oh also "it's going to disrupt banking"
― signed, J.P. Morgan CEO (Hurting 2), Monday, 2 December 2013 23:02 (ten years ago) link
crypto currency drive a man crazy
― lag∞n, Monday, 2 December 2013 23:12 (ten years ago) link
I'm quickly growing tired of this use of "disrupt"
― Clay, Monday, 2 December 2013 23:16 (ten years ago) link
https://twitter.com/bitcoin_txt/status/407646887647252480
― deX! (DJP), Monday, 2 December 2013 23:20 (ten years ago) link
― |$̲̅(̲̅ιοο̲̅)̲̅$̲̅| (gr8080), Monday, 2 December 2013 23:41 (ten years ago) link
"it feels like the internet in 1990"
i have a feeling in a few months it may feel a lot like internet in 1990
― frogbs, Monday, 2 December 2013 23:47 (ten years ago) link
it is the internet in 2013
― lag∞n, Monday, 2 December 2013 23:48 (ten years ago) link
but it feels like the internet in 1990
― Tip from Tae Kwon Do: (crüt), Monday, 2 December 2013 23:50 (ten years ago) link
in 2013
― Tip from Tae Kwon Do: (crüt), Monday, 2 December 2013 23:51 (ten years ago) link
bitcoin is like having a website with nothing on it but a photo of the earth and a hit counter
― lag∞n, Monday, 2 December 2013 23:53 (ten years ago) link
Bitcoin feels like a Prodigy discussion group
― deX! (DJP), Tuesday, 3 December 2013 00:37 (ten years ago) link
Real talk first BBS I ever saw was a wheel of time one on prodigy in like 1995
― 乒乓, Tuesday, 3 December 2013 00:39 (ten years ago) link
it's like swiss banking in 1939
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 03:19 (ten years ago) link
This is a pretty interesting piece:http://www.businessinsider.com/im-changing-my-mind-about-bitcoin-2013-12
It's based on the assumption that the value of bitcoin is pretty much exclusively money laundering, illegal transactions and tax evasion, which is what I thought. It does make an interesting point, though, that it doesn't really matter if the value of bitcoin is "stable" for it to be useful, because these kinds of transactions tend to involve converting money in and out of bitcoin relatively quickly. In other words, if you buy weed using bitcoin, you don't care what the price of bitcoin was 6 months ago or what it will be 6 months from now -- you just want to quickly convert your dollars to bitcoin and get your weed at the current price. IMO this doesn't really qualify it as a "currency" though, it's more like a vehicle.
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 03:29 (ten years ago) link
my understanding is the market isnt very liquid tho which makes its value for that sort of thing limited
― lag∞n, Tuesday, 3 December 2013 03:32 (ten years ago) link
i mean maybe itll all sort itself out if enough criminals start using it but idk
― lag∞n, Tuesday, 3 December 2013 03:33 (ten years ago) link
like all these stories about people who have millions of dollars in bitcoins leave out the fact that its basically impossible to cash in that much
― lag∞n, Tuesday, 3 December 2013 03:34 (ten years ago) link
i will cash your bitcoins
― buzza, Tuesday, 3 December 2013 03:35 (ten years ago) link
also if it became a big enough deal in the black market the authorities would find a way to hobble it
― lag∞n, Tuesday, 3 December 2013 03:35 (ten years ago) link
buzza
― 乒乓, Tuesday, 3 December 2013 03:36 (ten years ago) link
right well I guess bitcoiners are hoping to draw more people into the market so that it becomes more liquid. At 11B I'm sure it's liquid enough for buying weed, but probably not liquid enough for members of the kleptocracy to move significant cash
and yeah what you said is what I think too -- there's a paradox that if it becomes successful enough to work it becomes much more likely to get shut down
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 03:36 (ten years ago) link
11B cap is sort of pitifully low for what its proponents are trying to make it out to be
― 乒乓, Tuesday, 3 December 2013 03:37 (ten years ago) link
another article pointed out that if regulators really want to go after bitcoin transactions, the "anonymity" doesn't matter because it's not anonymous to cash in your bitcoins. Like if bitcoins are overwhelmingly being used for illegal purposes, then authorities will just target people who are exchanging/cashing bitcoin.
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 03:38 (ten years ago) link
yeah the thing abt a virtual currency is no matter how super good its coded it had to interact with the real world at some point and its always gonna be vulnerable there
― lag∞n, Tuesday, 3 December 2013 03:40 (ten years ago) link
like w silk road they seemed to roll the whole thing up pretty comically easily
― lag∞n, Tuesday, 3 December 2013 03:42 (ten years ago) link
it'd be sweet if you could buy weed with bitcoin and have it delivered by amazon drones
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 03:43 (ten years ago) link
I'm also reminded of some file sharing services that tried to hide behind the fact that there were legitimate uses for them, but the courts were like "come on, we know what this is for."
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 03:44 (ten years ago) link
yeah
― lag∞n, Tuesday, 3 December 2013 03:45 (ten years ago) link
http://i.imgur.com/LFrCz8R.png
These guys never learn
― 乒乓, Tuesday, 3 December 2013 03:49 (ten years ago) link
do u guys have any bitcoins
― Clay, Tuesday, 3 December 2013 03:50 (ten years ago) link
i have all the bitcoins i am satocher
― lag∞n, Tuesday, 3 December 2013 03:51 (ten years ago) link
bit_coiner
― buzza, Tuesday, 3 December 2013 03:52 (ten years ago) link
http://www.reddit.com/r/SheepMarketplace/comments/1rvlft/i_just_chased_him_through_a_bitcoin_tumbler_and/
I find this guy's post to be oddly (and sadly) poetic
Its like running a marathon through fog, listening for the footsteps of other runners.
This is the biggest heist of all time. Is it in the newspapers? No TheNodManOut made the hardest spot - the escape route wallet from sheep. I assume he normally drives round in a van solving mysteries.I was still sending fractions of bitcoin into sheep, looking for the puncture, and saw that TheNodman had already sussed it. I clicked the link to the wallet and stood open-mouthed to see a planet-sized spaceship hovering above europe. We were both pretty knackered I think, but every door led to another door, rooms full of bitcoins stacked from floor to ceiling. I was ready to call it a day, but the spaceship started to dissappear into a fog before my eyes!I just sent 0.00666 btc to the first person to attach a threat to 0.000666 of a bitcoin, for good luck. I'm sure the NodManOut is pleased we're not alone now, because its hard to follow the blockchain and try to shout "OVER HERE! $100m is being towed away! Hello? I'm one confirmation behind him, and he's boarding a crowded tube train"I don't use the word "hero" lightly. But TheModManOut is probably the greatest hero in world history.Its easy to go wrong on the blockchain. There are no blockchain accountants yet. If we do, we can go back to the first escape hatch he discovered and work from there.
I was still sending fractions of bitcoin into sheep, looking for the puncture, and saw that TheNodman had already sussed it. I clicked the link to the wallet and stood open-mouthed to see a planet-sized spaceship hovering above europe. We were both pretty knackered I think, but every door led to another door, rooms full of bitcoins stacked from floor to ceiling. I was ready to call it a day, but the spaceship started to dissappear into a fog before my eyes!
I just sent 0.00666 btc to the first person to attach a threat to 0.000666 of a bitcoin, for good luck. I'm sure the NodManOut is pleased we're not alone now, because its hard to follow the blockchain and try to shout "OVER HERE! $100m is being towed away! Hello? I'm one confirmation behind him, and he's boarding a crowded tube train"
I don't use the word "hero" lightly. But TheModManOut is probably the greatest hero in world history.
Its easy to go wrong on the blockchain. There are no blockchain accountants yet. If we do, we can go back to the first escape hatch he discovered and work from there.
― 乒乓, Tuesday, 3 December 2013 03:52 (ten years ago) link
I feel like the only thing missing from that is Carol Channing popping out of a cake and shouting "BITCOOOOOOOIN!"
― deX! (DJP), Tuesday, 3 December 2013 03:56 (ten years ago) link
(I need to ask jjj if GZeus is into bitcoin)
― deX! (DJP), Tuesday, 3 December 2013 04:02 (ten years ago) link
i just mined mondo bitcoin for over an hour
― Tip from Tae Kwon Do: (crüt), Tuesday, 3 December 2013 04:04 (ten years ago) link
exactly, I think all of r/bitcoin is underestimating what the feds actually know about this
― frogbs, Tuesday, 3 December 2013 04:09 (ten years ago) link
This is an article my friend posted. It's about 75% breathless hyped up nonsense, but the other 25% mentions some interesting possible applications of the technology.
http://startupboy.com/2013/11/07/bitcoin-the-internet-of-money/
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 05:27 (ten years ago) link
http://www.sheepmarketscam.com/
― lollercoaster of rove (s.clover), Tuesday, 3 December 2013 05:47 (ten years ago) link
― lag∞n, Monday, December 2, 2013 10:34 PM (Yesterday) Bookmark
theres a ton of stories of ppl trying to cash out modest amounts and being stymied at every turn
http://buttcoin.org/easy
― Hungry4Ass, Tuesday, 3 December 2013 05:53 (ten years ago) link
My friend and I went and contacted a buyer on localbitcoins, and met with him at lunch. The buyer was offering 600$/coin in cash according to the listing, and was willing to buy up to 25 coins.
My friend showed up, the buyer instead insisted on paying the entire amount in Amazon giftcards (50 bucks a card, and had a small plastic shopping bag just filled with gift cards).
I asked him how do we know the gift cards are activated? “Trust me”.
― Hungry4Ass, Tuesday, 3 December 2013 05:54 (ten years ago) link
lmao
― lag∞n, Tuesday, 3 December 2013 05:56 (ten years ago) link
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, December 3, 2013 12:27 AM (29 minutes ago) Bookmark Flag Post Permalink
lol at that guys whole analysis of inflation and a currency w/o a central bank but especially
They overlook that the world functioned on fixed money supplies until 40 years ago (the gold standard)
is just an exceptionally goofy and misleading ron paul type thing to say
― lag∞n, Tuesday, 3 December 2013 05:57 (ten years ago) link
Many label it as a speculative pyramid scheme – without realizing that all government-printed money is such.
uh thats a pyramid scheme with an army and jails to you buddy (also not a pyramid scheme)
― lag∞n, Tuesday, 3 December 2013 06:01 (ten years ago) link
So why not just use Pounds or Dollars? One can use bitcoins as high-powered money with distinct advantages. Bitcoins, like cash, are irrevocable. Merchants don’t have to worry about shipping a good, only to have a customer void the credit card transaction and charge-back the sale.
im sure buyers are super psyched about this neat feature of no recourse whatsoever
― lag∞n, Tuesday, 3 December 2013 06:03 (ten years ago) link
ill stop liveblogging i hate this guy tho
― lag∞n, Tuesday, 3 December 2013 06:04 (ten years ago) link
hey man capitalism is the real pyramid scheme *listens to sounds of minds being blown*
― I was still sending fractions of bitcoin into sheep (Clay), Tuesday, 3 December 2013 06:05 (ten years ago) link
yeah he has no concept of monetary policy or history (or a bunch of other things) whatsoever. Christ's birth - 1973, world on totally fixed money supply backed 100% by gold, all is well.
I still think some of the tech applications are interesting. I feel like probably what will ultimately come out of bitcoin, if anything, probably doesn't have much to do with what bitcoiners think it is right now.
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 06:07 (ten years ago) link
feel like all his ideas are on the level of why pay someone to build a house for you when you can just build a house yrself
― lag∞n, Tuesday, 3 December 2013 06:09 (ten years ago) link
also seems like you're cutting out the middleman and replacing it with two middlemen (one at each end, i.e. the exchanges). I guess the goal of these people is to get to the point where you don't need to exchange it. But it's a longshot for this thing to gather enough steam to get to that point.
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 06:12 (ten years ago) link
yeah thats obvs never gonna happen in a million years but even if it did then you have this highly unstable central bankless currency thats really more of a commodity and thus subject to wild fluctuations booms and busts etc
― lag∞n, Tuesday, 3 December 2013 06:14 (ten years ago) link
Silicon Valley knows a platform when it sees it, and is aflame with Bitcoin.
worst sentence ever written?
― lag∞n, Tuesday, 3 December 2013 06:16 (ten years ago) link
Teams of brilliant young programmers, entranced by the opportunity, are working on Exchanges
― lag∞n, Tuesday, 3 December 2013 06:19 (ten years ago) link
https://pbs.twimg.com/media/Bafv3-bIAAAL3ZC.jpg
― am0n, Tuesday, 3 December 2013 06:21 (ten years ago) link
UGH
― Tip from Tae Kwon Do: (crüt), Tuesday, 3 December 2013 06:22 (ten years ago) link
the hills are alive with the sound of bitcoin
― sleepingbag, Tuesday, 3 December 2013 06:22 (ten years ago) link
that qr code translates as "kill me"
― lag∞n, Tuesday, 3 December 2013 06:23 (ten years ago) link
u jelly?
― am0n, Tuesday, 3 December 2013 06:27 (ten years ago) link
je₤₤y
― lag∞n, Tuesday, 3 December 2013 06:30 (ten years ago) link
http://www.scmp.com/business/banking-finance/article/1371767/chinese-renminbi-dominates-global-bitcoin-trade-researchers
Feel bad for my chinese bros, they're gonna get scammed so bad
But we as a people are culturally susceptible to gambling and speculation, it's terrible
― 乒乓, Tuesday, 3 December 2013 13:14 (ten years ago) link
this may already be the greatest Ponzi scheme in history
― frogbs, Tuesday, 3 December 2013 13:26 (ten years ago) link
Silicon Valley knows a platform when it sees it, and is aflame with Bitcoin. worst sentence ever written?
I think you mean GREATEST SENTENCE EVER WRITTEN
― SHAUN (DJP), Tuesday, 3 December 2013 14:03 (ten years ago) link
otm that is what i meant
― lag∞n, Tuesday, 3 December 2013 14:53 (ten years ago) link
burning platform?
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 14:57 (ten years ago) link
― 乒乓, Tuesday, December 3, 2013 8:14 AM Bookmark Flag Post Permalink
China is awash in new money and has a short history with capitalism and speculative investment. Scamming Americans is easy enough, but China seems like a dream for this sort of thing.
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 3 December 2013 14:58 (ten years ago) link
Well it's also due to the Chinese government heavily restricting what sorts of things one can invest in + being very tight with letting money leave China
― 乒乓, Tuesday, 3 December 2013 15:07 (ten years ago) link
read some thing speculating china is purposely not cracking down on all these ways to get money out of the country, bitcoin investment in hk real estate etc, as a way to ease into liberalizing their currency exchange policies altogether
― lag∞n, Tuesday, 3 December 2013 15:09 (ten years ago) link
Those bitcoin QR codes seem like they'd be ideal targets for drone strikes.
― Elvis Telecom, Wednesday, 4 December 2013 10:44 (ten years ago) link
rip http://www.coindesk.com/price-crashes-china-outlaws-bitcoin-financial-institutions
― lag∞n, Thursday, 5 December 2013 15:14 (ten years ago) link
I'm actually surprised the price didn't tank harder on that news.
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 5 December 2013 15:19 (ten years ago) link
can't the same group of people just keep the price inflated?
i'd figure stories like this would tank it harder (and there seems to be a new one every couple days):http://techland.time.com/2013/11/12/bitcoin-online-exchange-in-czech-republic-hacked/
― frogbs, Thursday, 5 December 2013 15:22 (ten years ago) link
http://newsfeed.time.com/2013/12/05/i-bought-everything-on-my-christmas-list-with-bitcoin/
― SHAUN (DJP), Thursday, 5 December 2013 15:25 (ten years ago) link
I mean, yeah, but only by buying more and bitcoin.
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 5 December 2013 15:28 (ten years ago) link
http://dealbook.nytimes.com/2013/12/05/in-the-murky-world-of-bitcoin-fraud-is-quicker-than-the-law/?_r=1&
The call went out on Twitter: “For insane profits come and join the pump.”It was an invitation to a penny stock-style pump-and-dump scheme — only this one involved Bitcoin, the soaring, slightly scary virtual currency that has beckoned and bewildered people around the world.While such bid ’em up, sell ’em off scams are shut down in the financial markets all the time, this one and other frauds involving digital money have gone unchecked. The reason, in no small part: Government authorities do not agree on which laws apply to Bitcoin — or even on what Bitcoin is.The person behind the recent scheme, a trader known on Twitter as Fontas, said in a secure Internet chat that he operated with little fear of a crackdown.“For now, the lack of regulations allows everything to happen,” Fontas said in the chat, where he verified his control of the Twitter account, which has thousands of followers, but did not give his identity. He added that Bitcoin and its users would benefit when someone steps in to police this financial wild west, and would stop his schemes when they do.
It was an invitation to a penny stock-style pump-and-dump scheme — only this one involved Bitcoin, the soaring, slightly scary virtual currency that has beckoned and bewildered people around the world.
While such bid ’em up, sell ’em off scams are shut down in the financial markets all the time, this one and other frauds involving digital money have gone unchecked. The reason, in no small part: Government authorities do not agree on which laws apply to Bitcoin — or even on what Bitcoin is.
The person behind the recent scheme, a trader known on Twitter as Fontas, said in a secure Internet chat that he operated with little fear of a crackdown.
“For now, the lack of regulations allows everything to happen,” Fontas said in the chat, where he verified his control of the Twitter account, which has thousands of followers, but did not give his identity. He added that Bitcoin and its users would benefit when someone steps in to police this financial wild west, and would stop his schemes when they do.
#freemarket #invisiblehand
― 乒乓, Friday, 6 December 2013 14:19 (ten years ago) link
The price has dropped about 20% in the past hour.
― Jersey Al (Albert R. Broccoli), Friday, 6 December 2013 20:21 (ten years ago) link
http://bitcoin.clarkmoody.com
― lag∞n, Friday, 6 December 2013 20:27 (ten years ago) link
Mt. Gox apparently has this glitch where it throws itself into a loop
http://i.imgur.com/pbWzMKG.jpg
What an efficient market looks like imo
― 乒乓, Friday, 6 December 2013 20:29 (ten years ago) link
it's bouncing a little but people are still dumping
― Jersey Al (Albert R. Broccoli), Friday, 6 December 2013 20:30 (ten years ago) link
wonder who is long on Bitcoins on 12/6/2013 at 3:30pm EST
― Jersey Al (Albert R. Broccoli), Friday, 6 December 2013 20:31 (ten years ago) link
bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately. bitcoins have been jingling in some distinguished pockets lately.
― Tip from Tae Kwon Do: (crüt), Friday, 6 December 2013 20:49 (ten years ago) link
https://www.youtube.com/watch?v=xU5lQsV0L6s
― SHAUN (DJP), Friday, 6 December 2013 20:52 (ten years ago) link
was down to ~600 half its original value, it recovered a lil bit but still, lol
― lag∞n, Saturday, 7 December 2013 15:51 (ten years ago) link
bitcoin.txt @bitcoin_txt 3mconfirmed that A.) this is about trust B.) we didn't see a bubble beforehand, we just saw gained trust expressing itself on the pricechart.
― lag∞n, Saturday, 7 December 2013 16:01 (ten years ago) link
http://lamborghininewportbeach.blogspot.com/2013/12/we-just-sold-our-very-first-vehicle.html
Lol, happened 2 days before the crash
― 乒乓, Saturday, 7 December 2013 17:05 (ten years ago) link
lol stupid stupid lamborghininewportbeach
― lag∞n, Saturday, 7 December 2013 17:09 (ten years ago) link
For once in my life I recommend looking at the comments
http://i.imgur.com/VoWIsi3.png
― 乒乓, Saturday, 7 December 2013 17:13 (ten years ago) link
http://i.imgur.com/4elWwD8.png
― 乒乓, Saturday, 7 December 2013 17:14 (ten years ago) link
http://i.imgur.com/zVuql5s.png
This dude got 3+ bitcoins by begging
Remember that story of the tech entrepreneur who tried to teach a homeless man to code in NYC
We are so close to the next level of a tech entrepreneur giving homeless people bitcoin wallets to request donations online
― 乒乓, Saturday, 7 December 2013 17:17 (ten years ago) link
wow this cool new currency is sure to be a huge sucess
― lag∞n, Saturday, 7 December 2013 17:18 (ten years ago) link
Rent &Insurance &Obamacare &Car
― sleepingbag, Saturday, 7 December 2013 19:34 (ten years ago) link
holy http://www.coinion.com
― lag∞n, Saturday, 7 December 2013 23:01 (ten years ago) link
Cringing so hard right now
― 乒乓, Saturday, 7 December 2013 23:05 (ten years ago) link
― mh, Saturday, 7 December 2013 23:17 (ten years ago) link
bitcoin.txt @bitcoin_txt 1mthe true value of Bitcoin without interference of the exchanges…Therefore ALL bitcoins equal the total value of all the earths raw materials
― lag∞n, Sunday, 8 December 2013 03:42 (ten years ago) link
AnonymousDecember 4, 2013 at 2:11 PMBuy me a lambo! 1HL6YgkkGv7bKRhRe6UtxPHHxot5Ep6yKz
― am0n, Sunday, 8 December 2013 17:16 (ten years ago) link
AnonymousDecember 5, 2013 at 2:29 AMlol at the ponzi scheme comments. Dinasaurs!
AnonymousDecember 5, 2013 at 7:09 PMDinosaurs old enough to remember Pets.com. Yes sir son, I've seen this movie before. It does not end well.
― am0n, Sunday, 8 December 2013 17:19 (ten years ago) link
Last night I talked to my friend's bro who's very much ~in~ the tech industry
He told me he bought 10 bitcoins when the price was at $200 and sold at $1000
Good man
Also told me about his plans for a [REDACTED UNDER NON-DISCLOSURE AGREEMENT] which I thought was really interesting
― 乒乓, Sunday, 8 December 2013 18:25 (ten years ago) link
ChaseBankCoin
― Brakhage, Tuesday, 10 December 2013 18:34 (ten years ago) link
c+p for those of us without financial times subs?
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Tuesday, 10 December 2013 18:58 (ten years ago) link
whoops my bad
JPMorgan Chase has filed a US patent application for a computerised payment system that resembles some aspects of Bitcoin, the controversial virtual currency. Like Bitcoin, JPMorgan’s proposed system would allow people to make anonymous, electronic payments over the internet, without having to reveal their name or account numbers or pay a fee, according to the patent application. [...] JPMorgan’s proposed system involves creating “virtual cash” that would sit in an online wallet reminiscent of the computer files that hold Bitcoins on behalf of their users.The JPMorgan system would also create a public record of transactions made using the technology – a feature that would appear to mirror Bitcoin’s use of “blockchain”, a massive block of code stored across a peer-to-peer network of computers that acts as a public ledger of all Bitcoin transactions.
― Brakhage, Tuesday, 10 December 2013 19:21 (ten years ago) link
100% never happens
― lag∞n, Tuesday, 10 December 2013 19:23 (ten years ago) link
if it does though, fucking lol
"bitcoin will set us free until a giant financial institution patents everything about it that we like"
― SHAUN (DJP), Tuesday, 10 December 2013 19:24 (ten years ago) link
hard to see what would be in that for JPM -- maybe they just want the patent as a potential block to other companies?
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 10 December 2013 19:25 (ten years ago) link
companies just patent shit constantly 99% add up to nothing
― lag∞n, Tuesday, 10 December 2013 19:27 (ten years ago) link
unless of course they're planning on co-opting/charging all of the bitcoin exchanges based on the strength of their patent
― SHAUN (DJP), Tuesday, 10 December 2013 19:29 (ten years ago) link
Also looks like Chase is just developing their own proprietary bitcoin
― 乒乓, Tuesday, 10 December 2013 19:30 (ten years ago) link
yeah i mean they had a meeting and a guy was like maybe one day we want to build our own bitcoin or sue bitcoin or something and another guy was like sure ok send it over to legal
― lag∞n, Tuesday, 10 December 2013 19:35 (ten years ago) link
u never bitcoin
― am0n, Tuesday, 10 December 2013 19:44 (ten years ago) link
Bitcoin back up to $1000, dump and pump in full effect.
― Jersey Al (Albert R. Broccoli), Tuesday, 10 December 2013 19:44 (ten years ago) link
that chase thing makes me thing of labels fucking about with bittorrent distribution and not doing anything with it
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Tuesday, 10 December 2013 19:49 (ten years ago) link
https://www.youtube.com/watch?v=0zgP4DdicGc
lord help
― am0n, Tuesday, 10 December 2013 19:51 (ten years ago) link
I hope this turns out like early-mid-stage internet, where every company will suddenly have consultants telling them they need "bitcoin presence" and they'll come up with all these pointless uses of bitcoin-like technologies. Like Kellogs will come out with FrostedCoins where you get like .25-cent value secure virtual coupons for more frosted flakes that you have to go through an arduous process to redeem.
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 10 December 2013 20:29 (ten years ago) link
(Vague uniformed speculation:)
Well Facebook just killed their own currency (Credits), which was basically that idea, trying to trap more cash within the platform (equivalent of gift cards, most of which are never redeemed, hence they keep the money).
Afaik the JPM/Chase scheme is intended as a payment system to compete with Visa et al, applicable to the real world and not just discounts within a closed trade loop. Duplicate a currently open-source thing, build out an infrastructure for it, take ownership of it (a la Microsoft or any number of tech giants), presto - they are the new Visa/Paypal/Western Union. Could see savings accounts at Chase offering higher rates in that currency, etc as an initial incentive to get people in door (like offering $500 for opening an account today). They might even push it as an investment/speculation vehicle in itself. Unlike Bitcoin Chase exists in the material world and has offices, advertising, etc, so can push it hard if need be. Big challenge with Bitcoin as it stands is converting back into $ - not as much of a problem given a vast chain of brick and mortar banks
― Brakhage, Tuesday, 10 December 2013 21:21 (ten years ago) link
http://i.imgur.com/jLGvwRe.gif
― diamonddave85, Tuesday, 10 December 2013 21:27 (ten years ago) link
otm
― lag∞n, Tuesday, 10 December 2013 21:28 (ten years ago) link
thx for the bitcoin how do I cash it?
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 10 December 2013 21:29 (ten years ago) link
3 reasons bitcoins aren't in your wallet yet
― am0n, Tuesday, 10 December 2013 21:37 (ten years ago) link
hit me up on powwow for bc2$
― Roberto Spiralli, Tuesday, 10 December 2013 21:43 (ten years ago) link
first thing if i understand correctly you have to build a wallet out of an old computer or something then you print them out and put them in there or something
― lag∞n, Tuesday, 10 December 2013 21:48 (ten years ago) link
basically make a new desktop folder, double-click on the folder name and type 'wallet'. insert the spinning bitcoin .gif into the wallet. happy mining!
― am0n, Tuesday, 10 December 2013 21:51 (ten years ago) link
Thanks am0n, just made my first bitcoin
― 乒乓, Tuesday, 10 December 2013 21:52 (ten years ago) link
http://media02.hongkiat.com/bitcoin-questions/bitcoin-miner.jpg
― am0n, Tuesday, 10 December 2013 21:53 (ten years ago) link
no no no. a bit coin is a long string of letters, numbers and symbols. just start typing randomly and break the resulting strings into longish pieces, then copy those into the folder named 'wallet'. as simple as that.
― Aimless, Tuesday, 10 December 2013 21:55 (ten years ago) link
theres many alternate mining methods, like this one:
― am0n, Tuesday, 10 December 2013 21:58 (ten years ago) link
that's risky though because each bitcoin has a unique id, so you risk typing a string someone else has already typed. To avoid that, use http://www.bitcoinstringchecker.com
If the bitcoin string is already taken, e.g. "1-2-3-STEVE-O!" it will even suggest other, non-taken strings, e.g. 1-2-3-STEVE-O!7826r*n&llp1
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 10 December 2013 21:59 (ten years ago) link
this has potential for IRE
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 10 December 2013 22:00 (ten years ago) link
i-bought-everything-on-my-christmas-list-with-bitcoin
― am0n, Tuesday, 10 December 2013 22:00 (ten years ago) link
If anyone wants to contact me via my PGP-----BEGIN PGP PUBLIC KEY BLOCK----- Version: GnuPG/MacGPG2 v2.0.22 (Darwin) Comment: GPGTools - https://gpgtools.orgmQENBFKC+cIBCACwUYBX/WJybfwNaIQKX3oDpZ+7EwKv2J1g0KXdoMUkxN9ysMjn cqpC4PwsLbk6KteCL/yRwW6bbw9yTbDrLUktNMua9XqBy5Evoe5N9q98ws64bSBA thJTuCRAAdlghJJj68uWKqjt8SJ7zJGLMAmkr57DRGntxrbnl0UC1a5p2PtcjWxU zO9ngX066i1qLxhJZY9DVQ8xmXRYAzmgLsPlb/v9Zj+4q9lLXmbClNAMvqdPMqpv zmFnExG94EJNPAdbDVdpaf+OWsseBCCd2seMizmTLka00ZdkyVgDXZ72BhyuoiBY XZiZX6HHaTV/kOj5Ti0zyoquoGMQBtH2b+P5ABEBAAG0JGh1cmx5YnVybHkgPGh1 cmx5YnVybHk5MDlAZ21haWwuY29tPokBPQQTAQoAJwUCUoL5wgIbAwUJB4YfgAUL CQgHAwUVCgkICwUWAgMBAAIeAQIXgAAKCRCzdBXOHlwRz81PCACh6jk+B2icBvMu CFOJ9/4vnrKC5KaFKTa2Gy+zqDj37QNc+TmyFQWR0f8eT1gXDLwVajzTBP/qNAwH 4N6rVvkhkyW+SdGuK2FCCz9FPOw/ctS57cQsPDakiUBGovKPSQnPYeJbc3CQ9UCT FnNmScqhipvj76eqiCqzD0HbViWlCGcPisE6u2BgFdVB3pyf0zCotM8zgLxQ+N1n 8Jc1U+2jFZATGEiwLOjLh9+OuTkIJNrjAd6U7yohhgm8kEtw+BJdVeYjXqRY+v6E 4am6mCWVbTtD0jQiJgRgb87Hg2ePFDbO2y0rDlOzOgApkXMobfHJ0HBpuPAw5edZ tO400yPguQENBFKC+cIBCACntYbhRWVFBxov3MGYuvOHUObSw1X/+0XGmi3vtWKO a0bwMf7wiqK35ROqaKKyeKrT8cUl2JbF22IICPbuCdzwZQzGNF3BvNDeLTa0Kr3T WJCJNJYky3z/5T1/Pi+FxkhzcVeK0HROm851nimU2UiyLXxQvyauwjel1e+RvLZQ nzNxS21QBdeEJNotv7jwtBHT8DUillWTNFsVI+qFGduZvToxAjUYLnD3Mk9KrfrV uxWiSDQzco/w1Uvzq5mBbeZ7ETUsab0qgkjS/x0+wI+WIsPbxIKTlgqSbXMx5pkw uv6/MDjYP44ei0hJ1tG2ROLZTz/xAmgjAa9W7IcV1wAlABEBAAGJASUEGAEKAA8F AlKC+cICGwwFCQeGH4AACgkQs3QVzh5cEc/H8wf/dzqcWq8eWjQFT1kChN9yqfeJ qOx1rPy/WsXLaTw/rChTNmXXy0DFAhe0h32gQKp9q23cmr+R+tF1C8pi7O/NOBva ghe6PcDw7uq9IYJ4Sb1js002qIiNIoMLMHzCCyTRoZHIPq1+ssbIZrSdcVTWHzZ/ ntBRD7wWpatmPJl/S8eRxCcNwUqu5d0fwcE4k0it0z0KFzkCPSxEjMWgJ1H6HKtc IqTAGm49jUlgkVMY7oUcVgBccVh4AeUr8QKsrR+U76/eh5Jy6vqZsVsCq6/DNMB4 AVAMOEQSCZgzrmgkhls2eTwPYg3yHC/RxAc7+9MGBxZsitTsnfu8HuJMOpuYyw== =9qQw -----END PGP PUBLIC KEY BLOCK-----
― am0n, Tuesday, 10 December 2013 22:02 (ten years ago) link
Just sent you half of my first bitcoin as a way of saying thanks, am0n. Thanks. Thanks
― 乒乓, Tuesday, 10 December 2013 22:03 (ten years ago) link
Ideas For ILX: pgp public key signatures on posts
― diamonddave85, Tuesday, 10 December 2013 22:04 (ten years ago) link
here mine
-----BEGIN PGP PUBLIC KEY BLOCK----- Version: GnuPG/MacGPG2 v2.0.22 (Darwin) Comment: GPGTools - https://gpgtools.orgmQENBFKC+cIBCACwUYBX/WJybfwNaIQKX3oDpZ+7EwKv2J1g0KXdoMUkxN9ysMjn cqpC4PwsLbk6KteCL/yRwW6bbw9yTbDrLUktNMua9XqBy5Evoe5N9q98ws64bSBA thJTuCRAAdlghJJj68uWKqjt8SJ7zJGLMAmkr57DRGntxrbnl0UC1a5p2PtcjWxU zO9ngX066i1qLxhJZY9DVQ8xmXRYAzmgLsPlb/v9Zj+4q9lLXmbClNAMvqdPMqpv zmFnExG94EJNPAdbDVdpaf+OWsseBCCd2seMizmTLka00ZdkyVgDXZ72BhyuoiBY XZiZX6HHaTV/kOj5Ti0zyoquoGMQBtH2b+P5ABEBAAG0JGh1cmx5YnVybHkgPGh1 cmx5YnVybHk5MDlAZ21haWwuY29tPokBPQQTAQoAJwUCUoL5wgIbAwUJB4YfgAUL CQgHAwUVCgkICwUWAgMBAAIeAQIXgAAKCRCzdBXOHlwRz81PCACh6jk+B2icBvMu CFOJ9/4vnrKC5KaFKTa2Gy+zqDj37QNc+TmyFQWR0f8eT1gXDLwVajzTBP/qNAwH 4N6rVvkhkyW+SdGuK2FCCz9FPOw/ctS57cQsPDakiUBGovKPSQnPYeJbc3CQ9UCT FnNmScqhipvj76eqiCqzD0HbViWlCGcPisE6u2BgFdVB3pyf0zCotM8zgLxQ+N1n 8Jc1U+2jFZATGEiwLOjLh9+OuTkIJNrjAd6U7yohhgm8kEtw+BJdVeYjXqRY+v6E 4am6mCWVbTtD0jQiJgRgb87Hg2ePFDbO2y0rDlOzOgApkXMobfHJ0HBpuPAw5edZ tO400yPguQENBFKC+cIBCACntYbhRWVFBxov3MGYuvOHUObSw1X/+0XGmi3vtWKO a0bwMf7wiqK35ROqaKKyeKrT8cUl2JbF22IICPbuCdzwZQzGNF3BvNDeLTa0Kr3T WJCJNJYky3z/5T1/Pi+FxkhzcVeK0HROm851nimU2UiyLXxQvyauwjel1e+RvLZQ nzNxS21QBdeEJNotv7jwtBHT8DUillWTNFsVI+qFGduZvToxAjUYLnD3Mk9KrfrV uxWiSDQzco/w1Uvzq5mBbeZ7ETUsab0qgkjS/x0+wI+WIsPbxIKTlgqSbXMx5pkw uv6/MDjYP44ei0hJ1tG2ROLZTz/xAmgjAa9W7IcV1wAlABEBAAGJASUEGAEKAA8F AlKC+cI______________TOM_CURISE_4_LYFE______________q8eWjQFT1kChN9yqfeJ qOx1rPy/WsXLaTw/rChTNmXXy0DFAhe0h32gQKp9q23cmr+R+tF1C8pi7O/NOBva ghe6PcDw7uq9IYJ4Sb1js002qIiNIoMLMHzCCyTRoZHIPq1+ssbIZrSdcVTWHzZ/ ntBRD7wWpatmPJl/S8eRxCcNwUqu5d0fwcE4k0it0z0KFzkCPSxEjMWgJ1H6HKtc IqTAGm49jUlgkVMY7oUcVgBccVh4AeUr8QKsrR+U76/eh5Jy6vqZsVsCq6/DNMB4 AVAMOEQSCZgzrmgkhls2eTwPYg3yHC/RxAc7+9MGBxZsitTsnfu8HuJMOpuYyw== =9qQw -----END PGP PUBLIC KEY BLOCK-----
― lag∞n, Tuesday, 10 December 2013 22:04 (ten years ago) link
-----BEGIN PGP PUBLIC KEY BLOCK-----Version: GnuPG/MacGPG2 v2.0.22 (Darwin)Comment: GPGTools - https://gpgtools.orgmQENBFKC+cIBCACwUYBX/WJybfwNaIQKX3oDpZ+7EwKv2J1g0KXdoMUkxN9ysMjn cqpC4PwsLbk6KteCL/yRwW6bbw9yTbDrLUktNMua9XqBy5Evoe5N9q98ws64bSBA thJTuCRAAdlghJJj68uWKqjt8SJ7zJGLMAmkr57DRGntxrbnl0UC1a5p2PtcjWxU zO9ngX066i1qLxhJZY9DVQ8xmXRYAzmgLsPlb/v9Zj+4q9lLXmbClNAMvqdPMqpv zmFnExG94EJNPAdbDVdpaf+OWsseBCCd2seMizmTLka00ZdkyVgDXZ72BhyuoiBY XZiZX6HHaTV/kOj5Ti0zyoquoGMQBtH2b+P5ABEBAAG0JGh1cmx5YnVybHkgPGh1 cmx5YnVybHk5MDlAZ21haWwuY29tPokBPQQTAQoAJwUCUoL5wgIbAwUJB4YfgAUL CQgHAwUVCgkICwUWAgMBAAIeAQIXgAAKCRCzdBXOHlwRz81PCACh6jk+B2icBvMu CFOJ9/4vnrKC5KaFKTa2Gy+zqDj37QNc+TmyFQWR0f8eT1gXDLwVajzTBP/qNAwH 4N6rVvkhkyW+SdGuK2FCCz9FPOw/ctS57cQsPDakiUBGovKPSQnPYeJbc3CQ9UCT FnNmScqhipvj76eqiCqzD0HbViWlCGcPisE6u2BgFdVB3pyf0zCotM8zgLxQ+N1n 8Jc1U+2jFZATGEiwLOjLh9+OuTkIJNrjAd6U7yohhgm8kEtw+BJdVeYjXqRY+v6E 4am6mCWVbTtD0jQiJgRgb87Hg2ePFDbO2y0rDlOzOgApkXMobfHJ0HBpuPAw5edZ tO400yPguQENBFKC+cIBCACntYbhRWVFBxov3MGYuvOHUObSw1X/+0XGmi3vtWKO a0bwMf7wiqK35ROqaKKyeKrT8cUl2JbF22IICPbuCdzwZQzGNF3BvNDeLTa0Kr3T WJCJNJYky3z/5T1/Pi+FxkhzcVeK0HROm851nimU2UiyLXxQvyauwjel1e+RvLZQ nzNxS21QBdeEJNotv7jwtBHT8DUillWTNFsVI+qFGduZvToxAjUYLnD3Mk9KrfrV uxWiSDQzco/w1Uvzq5mBbeZ7ETUsab0qgkjS/x0+wI+WIsPbxIKTlgqSbXMx5pkw uv6/MDjYP44ei0hJ1tG2ROLZTz/xAmgjAa9W7IcV1wAlABEBAAGJASUEGAEKAA8F AlKC+cICGwwFCQeGH4AACgkQs3QVzh5cEc/H8wf/dzqcWq8eWjQFT1kChN9yqfeJ qOx1rPy/WsXLaTw/rChTNmXXy0DFAhe0h32gQKp9q23cmr+R+tF1C8pi7O/NOBva ghe6PcDw7uq9IYJ4Sb1js002qIiNIoMLMHzCCyTRoZHIPq1+ssbIZrSdcVTWHzZ/ ntBRD7wWpatmPJl/S8eRxCcNwUqu5d0fwcE4k0it0z0KFzkCPSxEjMWgJ1H6HKtc IqTAGm49jUlgkVMY7oUcVgBccVh4AeUr8QKsrR+U76/eh5Jy6vqZsVsCq6/DNMB4 AVAMOEQSCZgzrmgkhls2eTwPYg3yHC/RxAc7+9MGBxZsitTsnfu8HuJMOpuYyw== =9qQw -----END PGP PUBLIC KEY BLOCK-----
― am0n, Tuesday, 10 December 2013 22:05 (ten years ago) link
Just made another bitcoin. Up to 1.5 now
― 乒乓, Tuesday, 10 December 2013 22:06 (ten years ago) link
what makes bitcoin so secure is that it's like way too many letters and numbers for anyone to remember in their head, or even to write down without messing up!
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 10 December 2013 22:22 (ten years ago) link
+/u/bitcointip 1 btc verify
― diamonddave85, Tuesday, 10 December 2013 22:22 (ten years ago) link
They tried to get that upper hand, but instead, it looks like Mickey Mouse making a Pluto shadow.
― pplains, Tuesday, 10 December 2013 22:32 (ten years ago) link
To the poster known as "乒乓",
I am a professional investor in the United States interested in adding bitcoin currency to my portfolio. If you ever become interested in selling your bitcoins (I understand you have 1.5 as of December 10, 2013) please contact me at bitcoinbu✧✧✧@ya✧✧✧.c✧✧
Thank you.
― Clay, Tuesday, 10 December 2013 22:46 (ten years ago) link
-----END PGP PUBLIC KEY BLOCK-----
― am0n, Tuesday, 10 December 2013 22:49 (ten years ago) link
bitcoinbu✧✧✧
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 10 December 2013 23:19 (ten years ago) link
bitcoinhttp://images.chron.com/blogs/askacat/hatcat.JPG
927 People Own Half Of All Bitcoins
― am0n, Wednesday, 11 December 2013 16:12 (ten years ago) link
http://static3.businessinsider.com/image/52a74254eab8eacb2266bfa7-828-454/bitcoin%20pie%20ownershp.png
And here's what that means in terms of ownership: those same 47 people each own at least $10 million-worth of Bitcoins. The mean net worth may be much higher. Another 880 individuals each own at least $1 million-worth of Bitcoin. About a million people own $10,000 or less worth.
Bitcoin is anonymous, so we don't know who all the 47 individuals are — though some, like the Winklevoss twins and Roger Ver, have publicly identified themselves.
Bottom line: Bitcoin has made a fraction of people very rich. And then there's the rest of us.
― am0n, Wednesday, 11 December 2013 16:16 (ten years ago) link
http://static2.businessinsider.com/image/52a7456c69bedd180a8e91b5-480-/winklevoss-3.jpg
― am0n, Wednesday, 11 December 2013 16:17 (ten years ago) link
― am0n, Wednesday, December 11, 2013 11:16 AM (41 minutes ago) Bookmark Flag Post Permalink
screen rich
― lag∞n, Wednesday, 11 December 2013 16:58 (ten years ago) link
http://i.imgur.com/kTnY4zv.png
― diamonddave85, Wednesday, 11 December 2013 17:13 (ten years ago) link
haw
― Roberto Spiralli, Wednesday, 11 December 2013 17:14 (ten years ago) link
.55378008
― Tip from Tae Kwon Do: (crüt), Wednesday, 11 December 2013 17:15 (ten years ago) link
grandstanding fail, way to cop to being part of the 20.7% dude
― Roberto Spiralli, Wednesday, 11 December 2013 17:18 (ten years ago) link
brb checking couch for lost bitcoins
― dig the lou reed (Hunt3r), Wednesday, 11 December 2013 17:40 (ten years ago) link
where are they do you think what happened to the purple coins
― lag∞n, Wednesday, 11 December 2013 17:43 (ten years ago) link
i posted article upthread of a guy whose hard drive containing a 'wallet' is now buried in a garbage dump
― am0n, Wednesday, 11 December 2013 18:00 (ten years ago) link
eventually all bitcoins will be lost i guess
― lag∞n, Wednesday, 11 December 2013 18:02 (ten years ago) link
Buy Gold Online | Gold Bullion, Gold Bars, Gold Coins - JM Bullionwww.jmbullion.com/gold/Buy Physical Gold Bullion online at JM Bullion (.9999 Pure Gold Bars and Coins). FREE Shipping over $2500. Immediate Delivery - Call Us 800-276-6508.
― am0n, Wednesday, 11 December 2013 18:03 (ten years ago) link
Ah, the Search for Curly's Bitcoins
― pplains, Wednesday, 11 December 2013 18:44 (ten years ago) link
hurrr http://i.imgur.com/uywdBSG.png
― diamonddave85, Thursday, 12 December 2013 20:44 (ten years ago) link
http://www.wired.com/wiredenterprise/2013/12/casascius/
Basically, these physical bitcoins are novelty items.Basically, these physical bitcoins are novelty items.Basically, these physical bitcoins are novelty items.Basically, these physical bitcoins are novelty items.Basically, these physical bitcoins are novelty items.
― turn me on, dead (am0n), Thursday, 12 December 2013 20:49 (ten years ago) link
http://buyphysicalbitcoins.com/
Buy Real BitcoinsFully Loaded Physical Bitcoins For SalePhysical bitcions are coins that you can hold in your hand. They are far more secure than traditional physical Bitcoins.
― turn me on, dead (am0n), Thursday, 12 December 2013 20:52 (ten years ago) link
This is a breif description of PBT Physical Bitcoin. My physical coins are the most secure on the market. They will still be useable after fire, water damage or even secure if your friends get the code that is hard engrved hidden under a security sticker. The coins come fully loaded with 1 bitcoin. Engraved on the back of the coin is a private key so at any stage you can access your funds when you need. I have added an extra bit of security to these coins by writing the private key in a simple coded format. This means the owner of the coin is the only person who can redeem the bitcoin online and not anyone who finds it. I also have covered the coded private key with a security sticker that states the Bitcoin address and your unique Physical Bitcoin Number which will be added to the register of all coins sold.
I work alone and once the code is engraved on the Physical Bitcoin is deleted. The only details I keep about the coin are the bitcoin address and the simple equation of how to read the private key on the back (this is incase you forget). If you understand how Bitcoins work I am sure you can see this is by far the safest method of storing Bitcoins safely in a physical state.
I developed all the address and keys off line on a computer that has never connected to the internet. When the private keys were put in code I transferred to the coin and then deleted. I keep the bitcoin address and solution to the code safe. Please note the solution to the code means absolutely nothing to me without the private key which is deleted.
When the bitcoin is sent online to the address you can see the balance in the block chain by typing the address on the sticker.
With every Bitcoin sold I will also give away 100 free Ripple XRP which is a new way to facilitate the spending of bicoin so I am keen to get people interested in it. You must provide me with a ripple address to do this with however.
If you have any questions please ask away.
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Thursday, 12 December 2013 20:54 (ten years ago) link
"With every Bitcoin sold I will also give away 100 free Ripple XRP which is a new way to facilitate the spending of bicoin so I am keen to get people interested in it."
huh what
― turn me on, dead (am0n), Thursday, 12 December 2013 20:56 (ten years ago) link
https://ripple.com/currency/
*falls down digital currency rabbit-hole*
http://cointerest.org/map
― diamonddave85, Thursday, 12 December 2013 20:59 (ten years ago) link
eww this is in baltimore
http://www.cryptoanarchy.com/store/
http://cryptoanarchy.com/store/image/cache/data/madashirt-500x500.jpg
― turn me on, dead (am0n), Thursday, 12 December 2013 21:06 (ten years ago) link
Bitcoin Madafaka!
― diamonddave85, Thursday, 12 December 2013 21:13 (ten years ago) link
I learned recently that I have a relative who raided his family's savings to speculate on bitcoins. Apparently he made at least some profit off of it.
― Ornate Coleman (Moodles), Thursday, 12 December 2013 21:39 (ten years ago) link
there is a machine at a place near me where you can put in a bitcoin and 25c and it makes your bitcoin shaped like a football w/ the patriots logo stamped on it
― Roberto Spiralli, Thursday, 12 December 2013 21:47 (ten years ago) link
i invested in bitcoin and all i got was this lousy t-shirt
― turn me on, dead (am0n), Thursday, 12 December 2013 21:47 (ten years ago) link
http://hss-prod.hss.aol.com/hss/storage/adam/4dc6986bfd781e285bb49cc3c888736f/applebitcoinhoax.png
― Brakhage, Thursday, 12 December 2013 22:46 (ten years ago) link
note: do not do this
― diamonddave85, Thursday, 12 December 2013 22:47 (ten years ago) link
i did it, now i'm cyber-wealthy & e-rich
― turn me on, dead (am0n), Thursday, 12 December 2013 23:44 (ten years ago) link
i love always bitcoin mining environment. everybody call me "ace, you are a best!" please feel me.
― turn me on, dead (am0n), Thursday, 12 December 2013 23:49 (ten years ago) link
sup ace you are a best!
― lag∞n, Friday, 13 December 2013 03:21 (ten years ago) link
so...i followed those instructions for a giggle and now my hard drive has been totally wiped?
― Roberto Spiralli, Friday, 13 December 2013 12:51 (ten years ago) link
sike - as if i would use an Apple computer. lulz
Hard drive not wiped - just filled with bitcoins now
Enjoy!
― 乒乓, Friday, 13 December 2013 12:54 (ten years ago) link
http://i.imgur.com/szcDrUc.png
― diamonddave85, Friday, 13 December 2013 20:44 (ten years ago) link
dunno what's happening but it looks like the price has plummeted for the last few days and now some real big transactions are taking place. hmmm
― frogbs, Monday, 16 December 2013 20:14 (ten years ago) link
Someone I know was bragging on Saturday that he had made money already in the hours since they had spent a few grand on bitcoins.
― Chewshabadoo, Monday, 16 December 2013 21:47 (ten years ago) link
http://i.imgur.com/fo5CtFV.gif
― am0n, Monday, 16 December 2013 22:58 (ten years ago) link
http://www.wired.com/wiredenterprise/2013/12/pawncoin/
― am0n, Monday, 16 December 2013 23:00 (ten years ago) link
http://www.mining.com/wp-content/uploads/2013/11/Bitcoin-GIF.gif
― The 'P' is a mystery (Clay), Monday, 16 December 2013 23:00 (ten years ago) link
lmao http://www.reddit.com/r/Bitcoin/comments/1t5uyn/memes_price_posts_and_emotional_posts_are_under_a
― lag∞n, Wednesday, 18 December 2013 15:24 (ten years ago) link
http://i.imgur.com/aYaIRd3.png
― 乒乓, Wednesday, 18 December 2013 15:27 (ten years ago) link
http://i.imgur.com/0mwwOub.png
― lag∞n, Wednesday, 18 December 2013 15:27 (ten years ago) link
http://twitter.com/shit_rbtc_says
― 乒乓, Wednesday, 18 December 2013 15:28 (ten years ago) link
http://i.imgur.com/18PvmXh.png
the world is a strange and beautiful place
― lag∞n, Wednesday, 18 December 2013 15:30 (ten years ago) link
I was in a GTA:O lobby where a guy was handing out bit¢oin$ and I was able to transfer to not only buy a new Adder with Apache rims, but also invested in 90 shares of Slappt, a new app that finds other bit¢oin$ users in the area and links them to your profile. Did that for about two hours before Slappt got bought out by Zynga for half its stock price, bit¢oin$ value dropped 50 percent and I got hit with a cheater's penalty and placed in the Bad Sport lobby of GTA:O. Kept my Adder, but my Ratloader's gone.
― pplains, Wednesday, 18 December 2013 17:29 (ten years ago) link
look I know it's time to bury doge it's so overdone but dogecoin people on bitcoin threads are killing me
http://cdn3.sbnation.com/entry_photo_images/9571605/Dogecoin_logo_large_verge_medium_landscape.png
― combination hair (underrated aerosmith bootlegs I have owned), Wednesday, 18 December 2013 17:33 (ten years ago) link
what is bitcoin even, science fiction performance art? sadly until our brain scanning technology improves we will likely never know
https://pbs.twimg.com/media/BbyINGPIIAAjn8e.png
― lag∞n, Wednesday, 18 December 2013 17:42 (ten years ago) link
i'd like to bury doge, after murdering it with a shovel
― Hungry4Ass, Wednesday, 18 December 2013 17:44 (ten years ago) link
http://i.imgur.com/GyZb6R1.pnghttp://i.imgur.com/sonse0S.jpg
right because there was the part where all those "institutional investors" went into bitcoin
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 18 December 2013 19:19 (ten years ago) link
I don't think that graph was made w/r/t bitcoin, rather H4A is just pointing out that the trajectory matches whatever that graph was made to depict
― 乒乓, Wednesday, 18 December 2013 19:20 (ten years ago) link
yah i know
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 18 December 2013 19:21 (ten years ago) link
graphs are pretty, and if you scale them right, you can make them line up perfectly
http://www.dailydot.com/business/bitcoin-gambling-just-dice-video-casino/
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Wednesday, 18 December 2013 19:35 (ten years ago) link
its the famous "stages of a bubble" graph from 2008 and its hilarious that each bitcoin crash looks exactly like it
― Hungry4Ass, Wednesday, 18 December 2013 20:01 (ten years ago) link
I thought it was taken from the robot textbook on uncanny valley.
― pplains, Wednesday, 18 December 2013 20:40 (ten years ago) link
I know what it is, I'm just not convinced it applies here -- yet.
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 18 December 2013 20:41 (ten years ago) link
it doesnt matter if it applies?
― lag∞n, Wednesday, 18 December 2013 20:50 (ten years ago) link
http://rlv.zcache.com/ask_me_about_my_bitcoin_mining_rig_tshirt-red5fc514e3974eb78590e0baf7a657b7_804gs_512.jpg
― am0n, Wednesday, 18 December 2013 20:55 (ten years ago) link
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, December 18, 2013 3:41 PM (28 minutes ago) Bookmark
its just funny u wiener
― Hungry4Ass, Wednesday, 18 December 2013 21:09 (ten years ago) link
its just funny -- u wiener.
― From the Album No Baby for You! (Matt P), Wednesday, 18 December 2013 21:24 (ten years ago) link
a new paradigm in linear systems thinking!
― Santana featuring (Sufjan Grafton), Wednesday, 18 December 2013 22:59 (ten years ago) link
http://i.imgur.com/18PvmXh.pngthe world is a strange and beautiful place
oh my god
― frogbs, Thursday, 19 December 2013 00:17 (ten years ago) link
excellent piece https://al3x.net/2013/12/18/bitcoin.html
― lag∞n, Thursday, 19 December 2013 05:14 (ten years ago) link
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, December 18, 2013 7:19 PM (Yesterday) Bookmark Flag Post Permalink
Winklevosses don't count?
― Matt Armstrong, Thursday, 19 December 2013 05:30 (ten years ago) link
actually I wonder if the Winklevosses have cashed out at some point
― Matt Armstrong, Thursday, 19 December 2013 05:31 (ten years ago) link
they traded their coins for afghani hash iirc
― mh, Thursday, 19 December 2013 05:36 (ten years ago) link
― lag∞n, Thursday, December 19, 2013 12:14 AM Bookmark Flag Post Permalink
This is a good piece.
I had a kind of revelation about Bitcoin that it is actually DESIGNED to create a speculative "bubble", in fact, it needs one or else it can never take off, which is not to say that I think it's going to take off, just that I think the "tulip mania" articles are kind of simplistic and point-missing. If it worked as it were supposed to, I realized, it would basically HAVE to rise massively in value until the total market cap of bitcoin reached an actually useful level for a "currency" or "value store" or whatever the hell you want to call it. Much in the same way that oil needed oil manias to become an industry, bitcoin needs bitcoin mania.
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 19 December 2013 05:55 (ten years ago) link
Interesting point. It comes down to network effects being crucial to making bit coin in any way useful, the problem with the mania so far is that it's been about mining and hoarding rather than creating a transaction ecosystem. Money needs to have velocity to have value, at the moment it feels like it is just shiny rocks.
I'm waiting for the day when Satoshi is revealed to be an economics professor with a sense of humour.
― American Fear of Pranksterism (Ed), Thursday, 19 December 2013 11:30 (ten years ago) link
https://www.youtube.com/watch?v=k8LqlMzEe-I
― Hungry4Ass, Thursday, 19 December 2013 15:32 (ten years ago) link
XD
― 乒乓, Thursday, 19 December 2013 15:34 (ten years ago) link
great article lag∞n, thanks
― sleeve, Thursday, 19 December 2013 15:35 (ten years ago) link
loool "Bitcoin, totally untraceable"http://www.bestforfilm.com/wp-content/uploads/2011/01/8.jpg?09d1f2
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 19 December 2013 15:40 (ten years ago) link
totally fucken untraceable some real sick shit
― lag∞n, Thursday, 19 December 2013 15:49 (ten years ago) link
You press the button on the bitcoin drive to find out how much bitcoin cash you have left.
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 19 December 2013 15:56 (ten years ago) link
To be fair I think the dude is a robot
― 乒乓, Thursday, 19 December 2013 16:03 (ten years ago) link
anyone who watched the mlb playoffs knows exactly who that guy is lordamercy
― lag∞n, Thursday, 19 December 2013 16:04 (ten years ago) link
https://www.youtube.com/watch?v=hkDD03yeLnU
― am0n, Thursday, 19 December 2013 20:43 (ten years ago) link
http://dealbook.nytimes.com/2013/12/21/into-the-bitcoin-mines
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Sunday, 22 December 2013 00:44 (ten years ago) link
“We don’t want downtime — ever, never,” he said. “Not with what we paid. Not with Bitcoin.”
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Sunday, 22 December 2013 00:45 (ten years ago) link
some of the comments are hilarious:
hknySo, if I understand this, companies can "earn" money, Bitcoins, by winning a puzzle game. They then expect others to accept these game guessing prizes for goods and services at increasingly inflated rates. Of course, no hacker would ever be able to break into the system and write some new coins for himself, or redistribute some others stockpiled.
Dec. 21, 2013 at 7:46 p.m.RECOMMENDED1
ploatmanMechanicville NYVerifiedHow long before hackers break into the system?
Dec. 21, 2013 at 5:22 p.m.RECOMMENDED2
― signed, J.P. Morgan CEO (Hurting 2), Sunday, 22 December 2013 01:03 (ten years ago) link
you could make a lot of bitcoins making a bitcoin game that makes you bitcoins
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Sunday, 22 December 2013 03:26 (ten years ago) link
Silicon Valley has a seemingly endless capacity to mistake social and political problems for technological ones
So true - I'm trying to think of the top 5 or 10 examples and where Bitcoin would rank amongst them
― Lee626, Sunday, 22 December 2013 12:38 (ten years ago) link
when all youve got is a compiler
― lag∞n, Sunday, 22 December 2013 16:25 (ten years ago) link
http://www.theverge.com/2013/12/23/5238764/news-anchor-receives-bitcoin-as-a-christmas-gift-on-air-stolen-promptly
― 乒乓, Tuesday, 24 December 2013 03:50 (ten years ago) link
Shoutout to my homie markers for that one
― 乒乓, Tuesday, 24 December 2013 03:51 (ten years ago) link
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 24 December 2013 15:04 (ten years ago) link
much lol http://www.buzzfeed.com/jwherrman/millions-of-dogecoins-stolen-in-apparent-heist
― lag∞n, Thursday, 26 December 2013 04:55 (ten years ago) link
<3
― mookieproof, Thursday, 26 December 2013 04:58 (ten years ago) link
im looking to invest a lil cash in a satirical crypto currency
― lag∞n, Thursday, 26 December 2013 05:00 (ten years ago) link
who let the doge out
― socki (s1ocki), Thursday, 26 December 2013 16:10 (ten years ago) link
wow, this @bitcoindesk scam pretty much says it all doesn't it
http://www.reddit.com/r/Bitcoin/comments/1tlhay/bitcoindesk_discussion_thread/
― frogbs, Thursday, 26 December 2013 16:38 (ten years ago) link
http://i.imgur.com/nTvEQ4l.png
― 乒乓, Thursday, 26 December 2013 16:40 (ten years ago) link
No one deserves to be robbed on Christmas. Through stupidity or otherwise.
heh
― Mmm yes hello (crüt), Thursday, 26 December 2013 16:44 (ten years ago) link
its pretty funny how bitcoins lack of fraud protection/dispute resolution is pitched as a feature
― lag∞n, Thursday, 26 December 2013 17:28 (ten years ago) link
credit card companies might be usurious but they do serve some purpose
― lag∞n, Thursday, 26 December 2013 17:30 (ten years ago) link
its just like cash that you leave lying around on the internet!
5h I think it would attract more people if you cleaned up the btcdoubler site and maybe removed the santa/flipping off picture..4h Any updates?
― you didnt say brian may i? (Hunt3r), Thursday, 26 December 2013 18:46 (ten years ago) link
that was my favorite part
― frogbs, Thursday, 26 December 2013 18:46 (ten years ago) link
― lag∞n, Wednesday, December 25, 2013 11:55 PM (Yesterday) Bookmark Flag Post Permalink
someone call Doge the Bounty Hunter
― action bronson pinchot (sanskrit), Thursday, 26 December 2013 21:52 (ten years ago) link
I lost everything please help
― am0n, Friday, 27 December 2013 02:36 (ten years ago) link
YOUR REACTION? OMG OLD WTF LOL CUTE WIN FAIL TRASHY EW
― you didnt say brian may i? (Hunt3r), Friday, 27 December 2013 02:51 (ten years ago) link
A GROUP of self-described anarchists, libertarians and Ron Paul supporters fleeing the crumbling world economic system have founded Galt's Gulch, a community in Chile inspired by Ayn Rand's “Atlas Shrugged”—and with an economy based entirely on Bitcoin. Or that's the goal, anyway.
http://www.economist.com/blogs/schumpeter/2013/12/libertarian-enclaves
― mookieproof, Saturday, 28 December 2013 16:29 (ten years ago) link
yo rand fans really calling themselves anarchists now
― lag∞n, Saturday, 28 December 2013 17:09 (ten years ago) link
lion laying down w the lamb right now
yeah 'anarcho-capitalist' has a lot of uh currency these days, whether or not they're 'really' anarchists and whether or not they should be let into various anarchist fb groups is endless lolz
― creating an ilHOOSion usic sight and sound (BIG HOOS aka the steendriver), Saturday, 28 December 2013 20:12 (ten years ago) link
there shd be a larger category thats just like "people who love meetings" or whatever
― lag∞n, Saturday, 28 December 2013 20:17 (ten years ago) link
Self-described anarcho-capitalists are probably 100% committed to capitalism, but are committed to anarchy only insofar as they think it might make it easier to get sex and drugs, or possibly make them richer. I further note that the truly rich are never anarchists.
― Aimless, Saturday, 28 December 2013 21:35 (ten years ago) link
― lag∞n, Saturday, December 28, 2013 8:17 PM (Yesterday) Bookmark Flag Post Permalink
meetingtarians
― creating an ilHOOSion usic sight and sound (BIG HOOS aka the steendriver), Sunday, 29 December 2013 22:41 (ten years ago) link
http://coinyewest.com
― Strangers look on with a discernible, barely contained ‘wow’. (forksclovetofu), Thursday, 2 January 2014 21:41 (ten years ago) link
was hoping for kan-yen
― creating an ilHOOSion usic sight and sound (BIG HOOS aka the steendriver), Friday, 3 January 2014 03:25 (ten years ago) link
cⒶpitⒶlism
― am0n, Friday, 3 January 2014 16:47 (ten years ago) link
http://i.imgur.com/EpFtjbl.gif
― 龜, Saturday, 4 January 2014 18:15 (ten years ago) link
what is up w/ this
https://twitter.com/BitcoinBellehttps://twitter.com/TheBitcoinWifehttps://twitter.com/Bitcoin_Goddess
― goole, Tuesday, 7 January 2014 23:12 (ten years ago) link
About to pimp Bitcoin in the Beltway at a local meetup! #Bitcoin #Ladies #Beer
― Clay, Tuesday, 7 January 2014 23:29 (ten years ago) link
http://i1354.photobucket.com/albums/q686/tinyservants/Screenshot2014-01-08at11523PM_zpsa2483fe6.png
― slam dunk, Wednesday, 8 January 2014 18:18 (ten years ago) link
just think youd have hundreds of thousands of illiquid pretend currency now
― lag∞n, Wednesday, 8 January 2014 18:23 (ten years ago) link
maybe she means hundreds of thousands of dollars/pounds worth? I don't think there were enough bitcoins in circulation five years ago for that to be a very likely story
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 8 January 2014 19:27 (ten years ago) link
there were a lot right off the bat bc they were v easy to mine then is my understaning
― lag∞n, Wednesday, 8 January 2014 19:29 (ten years ago) link
https://blockchain.info/charts/total-bitcoins?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 8 January 2014 19:31 (ten years ago) link
Bitcoin's market cap is ~11 billion and a single bitcoin is worth $927 which means there are about 12.14 million bitcoins out there right now
― 龜, Wednesday, 8 January 2014 19:32 (ten years ago) link
xp!
That graph is interesting because even though more + more people are throwing money at mining bitcoins every day the number of new bitcoins created has more or less remained constant
― 龜, Wednesday, 8 January 2014 19:34 (ten years ago) link
It is interesting, that's something that I've found kind of fascinating about the design of bitcoin (I mean I think it was more or less designed to do that).
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 8 January 2014 19:35 (ten years ago) link
http://i.imgur.com/47Agxuy.jpg
― Roberto Spiralli, Wednesday, 8 January 2014 19:40 (ten years ago) link
well it i guess it comes down to what she meant by like five years ago but anyway since bitcoins were worth less than a dollar then hundreds of thousands of dollars in bitcoins wouldve been more bitcoins than hundreds of thousands of bitcoins
― lag∞n, Wednesday, 8 January 2014 19:41 (ten years ago) link
yeah I mean hundreds of thousands worth at todays values. Or else she could have been basing that on the current denomination in 1000ths I guess.
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 8 January 2014 19:43 (ten years ago) link
prob someone just offered her hundreds of thousands of bitcoins
― lag∞n, Wednesday, 8 January 2014 19:44 (ten years ago) link
i mean didn't someone spend like 10,000 BTC on a pizza
― frogbs, Wednesday, 8 January 2014 19:53 (ten years ago) link
maybe it was hundreds of thousandths of bitcoins and she thought he just had a lisp
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 8 January 2014 19:59 (ten years ago) link
satoshi nakamoto invented a new form of currency just so he could immediately offer her hundreds of thousands of something to perform on second life
― iatee, Wednesday, 8 January 2014 19:59 (ten years ago) link
when his request was spurned he felt so much shame he decided to spend the rest of his life in hiding
― iatee, Wednesday, 8 January 2014 20:00 (ten years ago) link
fa¢t
― lag∞n, Wednesday, 8 January 2014 20:01 (ten years ago) link
It seems like a funny byproduct of the bitcoin craze that people are actually talking about second life again...
almost as though it had taken on a...
new status as a topic of interest
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 8 January 2014 20:02 (ten years ago) link
second coin
― lag∞n, Wednesday, 8 January 2014 20:02 (ten years ago) link
there are no second lives in american coin
― i like HOOS but this took the cake off my table (BIG HOOS aka the steendriver), Wednesday, 8 January 2014 20:53 (ten years ago) link
lily-allen-calls-herself-an-idiot-for-declining-bitcoin-payment-now-worth-millions-9046211.html
― am0n, Thursday, 9 January 2014 04:47 (ten years ago) link
Yahoo Malware Turned European Computers Into Bitcoin Slaves
― am0n, Thursday, 9 January 2014 04:49 (ten years ago) link
can someone link to the definitive krugman or whoever critical appraisal on bitcoin and why it's dumb
― k3vin k., Thursday, 9 January 2014 04:49 (ten years ago) link
idk if all the reasons its dumb have been captured in one place because there are so many
― lag∞n, Thursday, 9 January 2014 04:50 (ten years ago) link
this one is really good imho https://al3x.net/2013/12/18/bitcoin.html
and heres krugman http://krugman.blogs.nytimes.com/2013/12/28/bitcoin-is-evil
― lag∞n, Thursday, 9 January 2014 04:52 (ten years ago) link
it's p funny that the fact that ZYNGA decided to accept bitcoin sent the price shooting up
Hey, remember that time when Zynga IPO'd at $9+ per share? And remember how it's now worth $4/share? And remember how the company is still somehow worth $3.36 billion yet has no earnings?
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 9 January 2014 04:53 (ten years ago) link
zynga: we will buy this pictionary rip off game for $100m because it is sure to be popular foreverinvestors: this is surely a company with vision i will buy thier cool stock and grow richthe end
― lag∞n, Thursday, 9 January 2014 04:57 (ten years ago) link
critical appraisal in 4 words: high tech junk bonds
― am0n, Thursday, 9 January 2014 05:10 (ten years ago) link
http://i.imgur.com/Tx3JxLl.gif
― 龜, Thursday, 9 January 2014 15:29 (ten years ago) link
god i love that magazine
― i like HOOS but this took the cake off my table (BIG HOOS aka the steendriver), Thursday, 9 January 2014 15:31 (ten years ago) link
― lag∞n, Thursday, 9 January 2014 15:32 (ten years ago) link
bloomberg business week's art direction is the best
― diamonddave85 (diamonddave85), Thursday, 9 January 2014 15:42 (ten years ago) link
here's the article: http://www.businessweek.com/articles/2014-01-09/bitcoin-mining-chips-gear-computing-groups-competition-heats-up
― this harmless group of nerds and the women that love them (forksclovetofu), Thursday, 9 January 2014 15:47 (ten years ago) link
For sure, non-GIF version:
http://i.imgur.com/QHJVJxV.jpg
― 龜, Thursday, 9 January 2014 15:48 (ten years ago) link
that's real?
― |$̲̅(̲̅ιοο̲̅)̲̅$̲̅| (gr8080), Thursday, 9 January 2014 15:48 (ten years ago) link
http://i.imgur.com/Cv8uCZm.jpg
― diamonddave85 (diamonddave85), Thursday, 9 January 2014 15:48 (ten years ago) link
― |$̲̅(̲̅ιοο̲̅)̲̅$̲̅| (gr8080), Thursday, January 9, 2014 9:48 AM Bookmark Flag Post Permalink
― pplains, Thursday, 9 January 2014 15:53 (ten years ago) link
Even the flow chart?!
― pplains, Thursday, 9 January 2014 15:54 (ten years ago) link
― From the Album No Baby for You! (Matt P), Thursday, 9 January 2014 15:55 (ten years ago) link
yeah they've been doing flow charts documenting their cover creation process lately, p cool imo
― i like HOOS but this took the cake off my table (BIG HOOS aka the steendriver), Thursday, 9 January 2014 16:09 (ten years ago) link
http://images.bwbx.io/cms/2013-12-11/covertrail51_630b.jpghttp://images.bwbx.io/cms/2013-10-30/covertrail45_630.jpg
― i like HOOS but this took the cake off my table (BIG HOOS aka the steendriver), Thursday, 9 January 2014 16:11 (ten years ago) link
lmao well no i was looking for dolphins a+
― lag∞n, Thursday, 9 January 2014 16:20 (ten years ago) link
http://www.slate.com/content/dam/slate/blogs/moneybox/2013/02/28/racist_businessweek_cover_bloomberg_businessweek_misfires_badly/1362066630372.jpg.CROP.article568-large.jpg
did they do a cute flowchart for this one
― lag∞n, Thursday, 9 January 2014 16:22 (ten years ago) link
fell over themselves non apologizing iirc
― i like HOOS but this took the cake off my table (BIG HOOS aka the steendriver), Thursday, 9 January 2014 16:34 (ten years ago) link
I really do kinda like Bloomberg Businessweek tho, we get it at the office
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 9 January 2014 16:38 (ten years ago) link
yeah its good, they are def smart abt doing cool fun stuff in print thats better than a blog
― lag∞n, Thursday, 9 January 2014 16:41 (ten years ago) link
yeah it's not dry, and not unpallatably conservative like a lot of business publications
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 9 January 2014 16:43 (ten years ago) link
He estimates his two fastest computers will earn him $150,000 each this year. “It takes up a lot of time, but I have no kids. I have no life. I have a cat.”
― am0n, Thursday, 9 January 2014 16:51 (ten years ago) link
https://megabigpower.com/shop/index.php?route=product/product&product_id=50
― am0n, Thursday, 9 January 2014 16:54 (ten years ago) link
I have this strange impulse to pronounce the word like it's french every time I see it ("BEET-kwahn").
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 9 January 2014 16:59 (ten years ago) link
#yolo
― lag∞n, Thursday, 9 January 2014 17:05 (ten years ago) link
that business week cover wouldve been cooler if they had the artist paint the bitcoins instead of shopping them in imho
― lag∞n, Thursday, 9 January 2014 17:15 (ten years ago) link
Or if they paid the unicorn artist in bitcoins for the rights.
― pplains, Thursday, 9 January 2014 17:16 (ten years ago) link
wow yeah i like it, business week getting getting conceptual
― lag∞n, Thursday, 9 January 2014 17:18 (ten years ago) link
Here's dolphins by the same artist
http://www.curiousminds.com.au/catalog/images/prodimg/img19028.jpg
― pplains, Thursday, 9 January 2014 17:18 (ten years ago) link
And here he is just hanging out with a dolphin
http://webspace.webring.com/people/ab/browneyes21159/lassenwithwilddolphin.jpg
― pplains, Thursday, 9 January 2014 17:19 (ten years ago) link
^^ Url is "webspace.webring.com" - think he wouldn't mind a few bitcoins in his virtual wallet.
wow what a fn bawse
― lag∞n, Thursday, 9 January 2014 17:20 (ten years ago) link
people who have figured out how to live
http://i.imgur.com/E2k2X.jpg
― pplains, Thursday, 9 January 2014 17:21 (ten years ago) link
this happenedhttp://static2.businessinsider.com/image/4ffed25b6bb3f7cd2e000008-618-/businessweek-cover-mormon.jpg
― slam dunk, Thursday, 9 January 2014 18:57 (ten years ago) link
http://www.pcworld.com/article/2085360/kanye-west-moves-to-block-coinye-a-digital-currency-he-inspired.html
― |$̲̅(̲̅ιοο̲̅)̲̅$̲̅| (gr8080), Thursday, 9 January 2014 19:08 (ten years ago) link
can't really argue with Kanye on that one
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 9 January 2014 19:47 (ten years ago) link
http://www.ronpaulcoin.com/
― action bronson pinchot (sanskrit), Wednesday, 15 January 2014 18:49 (ten years ago) link
why god
― BIG HOOS aka the steendriver, Wednesday, 15 January 2014 19:25 (ten years ago) link
was hoping that was a new currency based on someone's private gold reserve.
― Roberto Spiralli, Wednesday, 15 January 2014 19:31 (ten years ago) link
the RonPaulCoin images say "President 2014-"
― signed, J.P. Morgan CEO (Hurting 2), Wednesday, 15 January 2014 19:33 (ten years ago) link
hahahaha
― lag∞n, Wednesday, 15 January 2014 19:44 (ten years ago) link
lololol
― BIG HOOS aka the steendriver, Wednesday, 15 January 2014 19:44 (ten years ago) link
Topic: It's Time: We Need to CONTACT Ron Paul (Read 144 times)
― hang son doong (am0n), Wednesday, 15 January 2014 20:20 (ten years ago) link
2014: The Year We Make CONTACT
seriously thinking about buying $3500 of dogecoin
― action bronson pinchot (sanskrit), Wednesday, 15 January 2014 20:22 (ten years ago) link
such paultard
― hang son doong (am0n), Wednesday, 15 January 2014 20:24 (ten years ago) link
Seriously want to start printing "Ron Paul 2014" t-shirts.
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 16 January 2014 02:02 (ten years ago) link
I guess no one would get it
― k3vin k., Thursday, 16 January 2014 02:05 (ten years ago) link
RonPaulCoin Development Team
RonPaulCoin is an non-profit, community run, open source, group effort. Below are some of the contributors and their respective areas of contribution:
RonPaulCoin Founder - ColinBitcointalk user "colinistheman"supp✧✧✧@ronpaulc✧✧✧.c✧✧
Director - MikeTwitter In-Chargehttp://www.twitter.com/RPCoinBitcointalk user "onaboat"phatone17(at)****.com
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 16 January 2014 02:10 (ten years ago) link
So when does the window on the "gotta catch 'em all" crypto-economy close? I feel like we could announce "ILXcoin" and run enough pump-and-dump cycles on cyber-libertarians to fund the server indefinitely and have enough left over to buy the first round at the worldwide FAP.
― Elvis Telecom, Thursday, 16 January 2014 05:54 (ten years ago) link
im in
― lag∞n, Thursday, 16 January 2014 05:56 (ten years ago) link
http://espn.go.com/nba/story/_/id/10303116/sacramento-kings-become-first-pro-sports-team-accept-bitcoin
― hang son doong (am0n), Thursday, 16 January 2014 18:52 (ten years ago) link
was hoping that was going to be about player salaries
― this harmless group of nerds and the women that love them (forksclovetofu), Thursday, 16 January 2014 19:37 (ten years ago) link
I would take bitcoin for Melo
― signed, J.P. Morgan CEO (Hurting 2), Thursday, 16 January 2014 19:44 (ten years ago) link
As part of pushing techonology, Ranadive also said the team is experimenting with Google Glass, which has a small computer mounted on an eyeglass frame. He said he believes the device could enhance the fan experience and even allow Kings coaches to do their jobs better during games.
― Clay, Thursday, 16 January 2014 23:53 (ten years ago) link
google glass is complete garbage doomed to failure but on the other hand they should make all the players wear them and mix those shots into the broadcast
― lag∞n, Thursday, 16 January 2014 23:54 (ten years ago) link
Demarcus Cousins fined $50k for throwing his team-issued Google Glasses into the stands after close loss to the Houston Rockets.
― Clay, Thursday, 16 January 2014 23:56 (ten years ago) link
http://i.imgur.com/iIhcND6.gif
― action bronson pinchot (sanskrit), Thursday, 16 January 2014 23:56 (ten years ago) link
bitcoin.txt @bitcoin_txt 30sWhy hasn't there been a reference to Bitcoin on The Big Bang Theory?
― lag∞n, Friday, 17 January 2014 01:47 (ten years ago) link
The Good Wife already had a bitcoin-themed episode
― Elvis Telecom, Friday, 17 January 2014 03:03 (ten years ago) link
― action bronson pinchot (sanskrit), Wednesday, January 15, 2014 3:22 PM (4 days ago) Bookmark Flag Post Permalink
fucking hell value has already doubled since posting that, i'm still stuck in the 4 business day ach xfer bs at Coinbase
― action bronson pinchot (sanskrit), Sunday, 19 January 2014 23:56 (ten years ago) link
https://www.youtube.com/watch?v=6MnQJFEVY7s
― this harmless group of nerds and the women that love them (forksclovetofu), Monday, 20 January 2014 23:22 (ten years ago) link
dogecoin subreddit raised 30,000 dollars to help send the jamaican bobsled team to the olympics
― diamonddave85 (diamonddave85), Tuesday, 21 January 2014 15:37 (ten years ago) link
jfc
― SHAUN (DJP), Tuesday, 21 January 2014 15:44 (ten years ago) link
you know what would solve a lot of bitcoin's "security problems"? A bitcoin bank. lol.
― signed, J.P. Morgan CEO (Hurting 2), Tuesday, 21 January 2014 21:18 (ten years ago) link
Hence Bitcoin’s wry new nickname in legal circles: “Prosecution Futures.”
http://www.nytimes.com/2014/01/19/business/eagle-scout-idealist-drug-trafficker.html
― lag∞n, Wednesday, 22 January 2014 07:34 (ten years ago) link
^^^ great fuckin piece
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Wednesday, 22 January 2014 18:22 (ten years ago) link
Dread Pirate Roberts considered his work epochal because he was not just promoting the sale of illicit goods. He was reimagining the fundamentals of commerce.
"y'know, except for the whole keeping 10% of every transaction thing..."
― frogbs, Wednesday, 22 January 2014 19:05 (ten years ago) link
a small price to pay for liberty
― lag∞n, Wednesday, 22 January 2014 19:24 (ten years ago) link
http://gs1.wac.edgecastcdn.net/8019B6/data.tumblr.com/e08844792548f19dd8231c89fea3baa7/tumblr_mztx8vyTrY1rby04wo1_500.gif
via a double-plus obese poster
― mookieproof, Thursday, 23 January 2014 04:55 (ten years ago) link
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Thursday, 23 January 2014 07:50 (ten years ago) link
at gif and descriptor
that's amazing
― this harmless group of nerds and the women that love them (forksclovetofu), Thursday, 23 January 2014 23:43 (ten years ago) link
ok im in at 1.9 million doge. slow ass coinbase prevented me quadrupling in the run up since 1/15 but it also saved me from the mini crash of two days ago. whatever.
― action bronson pinchot (sanskrit), Wednesday, 29 January 2014 00:13 (ten years ago) link
can i get a default swap on you y/n
― mookieproof, Wednesday, 29 January 2014 00:17 (ten years ago) link
y
― action bronson pinchot (sanskrit), Wednesday, 29 January 2014 00:45 (ten years ago) link
oops http://www.theverge.com/2014/2/4/5374172/the-coin-prince-charlie-shrem-bitinstant-bitcoin-money-laundering-scandal
― lag∞n, Wednesday, 5 February 2014 02:06 (ten years ago) link
http://money.cnn.com/2014/02/07/investing/bitcoin-withdrawal-halt/
― Burt Stuntin (Hurting 2), Friday, 7 February 2014 15:35 (ten years ago) link
Mt.Gox said an increase in withdrawal requests caused technical problems for its systems.
lol, I wonder if that means "technically we don't have enough money to cover your withdrawal requests"
technically were taping millions of dollars in fiat currency to ourselves right now
― lag∞n, Friday, 7 February 2014 21:35 (ten years ago) link
http://blogs.reuters.com/felix-salmon/2014/02/06/why-bitcoin-wont-disrupt-digital-transactions
feel like this cld be a lil more throughly argued but is basically otm
― lag∞n, Friday, 7 February 2014 21:36 (ten years ago) link
http://i.imgur.com/EHraMoL.jpg
― diamonddave85 (diamonddave85), Friday, 7 February 2014 22:03 (ten years ago) link
http://i.imgur.com/yBkSPY6.jpg
― diamonddave85 (diamonddave85), Friday, 7 February 2014 22:05 (ten years ago) link
― lag∞n, Friday, February 7, 2014 4:36 PM Bookmark Flag Post Permalink
I love Felix Salmon and if he did do a thoroughly reasoned take on this I'd take it pretty seriously, but I think this falls kind of short. He's basically just saying "this won't be disruptive because there are too many powerful interests involved." That's true with lots of "disruptive" technologies.
― Burt Stuntin (Hurting 2), Friday, 7 February 2014 22:14 (ten years ago) link
its even more true that most technologies never actually disrupt
― lag∞n, Friday, 7 February 2014 23:03 (ten years ago) link
like when people are all they scoffed at the internet too
thats a one hot technology every 40 years average
― lag∞n, Friday, 7 February 2014 23:05 (ten years ago) link
i mean it would be totally accurate to say that financial services has already been disrupted by the internet and m/l the same players still run the show
― lag∞n, Friday, 7 February 2014 23:06 (ten years ago) link
he is kind of just saying this wont happen because ppl dont want it to, its not really a convincing argument
― socki (s1ocki), Saturday, 8 February 2014 16:18 (ten years ago) link
hes saying that the benefits of the technology arent enough to overcome the not wanting
― lag∞n, Saturday, 8 February 2014 16:30 (ten years ago) link
which i think is true, technology people love bitcoin cause its really cool technology but its benefits are not really that great in a world where all financial transactions are already digitized
― lag∞n, Saturday, 8 February 2014 16:32 (ten years ago) link
http://www.bbc.co.uk/news/technology-26083733
― hang son doong (am0n), Sunday, 9 February 2014 17:25 (ten years ago) link
Any demand from outside of Iceland?
― calstars, Sunday, 9 February 2014 21:36 (ten years ago) link
https://www.youtube.com/watch?v=y7z2WFcEw5Y
― 龜, Monday, 10 February 2014 00:44 (ten years ago) link
My question is... What is he filming this with
― 龜, Monday, 10 February 2014 00:45 (ten years ago) link
**Important update**
https://www.youtube.com/watch?v=nGUxJCKHIno
― 龜, Monday, 10 February 2014 00:47 (ten years ago) link
― lag∞n, Friday, February 7, 2014 6:05 PM Bookmark Flag Post Permalink
I know that comparison is dumb, but at the same time the internet isn't just like one disruptive technology, it's thousands of disruptive technologies/business models
― Burt Stuntin (Hurting 2), Monday, 10 February 2014 04:54 (ten years ago) link
bitcoins are a series of boobs
― the Norwegians are leaving! (Sufjan Grafton), Monday, 10 February 2014 05:10 (ten years ago) link
www.goatse.cx
― AIDS (Hungry4Ass), Monday, 10 February 2014 14:35 (ten years ago) link
http://www.wired.com/business/2014/02/rise-fall-rise-patrick-byrne/
― hang son doong (am0n), Monday, 10 February 2014 17:47 (ten years ago) link
Burt Stuntin (Hurting 2)Posted: February 10, 2014 at 4:54:19 AM
literally infinite disruptive business models *j/o motion*
― lag∞n, Monday, 10 February 2014 18:06 (ten years ago) link
disruptive to my netflix enjoyment anyway
― the Norwegians are leaving! (Sufjan Grafton), Monday, 10 February 2014 18:08 (ten years ago) link
I mean in the actual theory behind "disruption" it's not *The Internet* that's disruptive, it's various applications of the internet to various industries.
― Burt Stuntin (Hurting 2), Monday, 10 February 2014 18:15 (ten years ago) link
but whatever, keep being too cool to notice shit changed
― Burt Stuntin (Hurting 2), Monday, 10 February 2014 18:22 (ten years ago) link
lol u cant possibly be srs
― lag∞n, Monday, 10 February 2014 18:32 (ten years ago) link
buy some bitcoins or stfu u clown
blowing yr own schumpeter
― selfie bans make dwight the yorke (darraghmac), Monday, 10 February 2014 18:36 (ten years ago) link
lessons in internet form hurting a guy who has read a number of articles
― lag∞n, Monday, 10 February 2014 18:37 (ten years ago) link
it wld be interesting to compile a list of all the industries the internet has actually disrupted: print advertising...
obvs there are bigger one on the horizon, retail prob being the nearest, but so far the effects of the internet have been more access to communication and information and less disrupting big established industries
the idea that start up dudes are gonna suddenly disrupt financial services rings all the bells of hubristic technological overreach, theyre very arrogant and cant see the difference between technology and not technology
the ultimate example is bill gates thinking hes gonna throw his money around and eliminate malaria, he really thought he was just smarter than all the public health and medical people even tho he had zero domain experience, the ongoing failure of education disrupters is p lol too
so while I am personally a big believer in the long term transformative power of the internet its really easy to overstate how much its done so far and what its really good at and not good at and my skepticism of bitcoin thing has to do mostly w observing these patterns
― lag∞n, Monday, 10 February 2014 19:44 (ten years ago) link
tbf i think what bill gates is doing is super great and helpful but he def displayed some classic nerd tics along the way
― lag∞n, Monday, 10 February 2014 19:50 (ten years ago) link
the things that 'need to be disrupted' in the financial industry aren't actually the things that bitcoin is 'disrupting'. it is not hard to buy things with us dollars either irl or online. in fact it's so easy that some existing technology that makes it easier to buy things (like buying stuff using your phone) is having trouble catching on, because the marginal convenience isn't worth the trouble.
― iatee, Monday, 10 February 2014 19:56 (ten years ago) link
yup
― lag∞n, Monday, 10 February 2014 20:01 (ten years ago) link
mail
― socki (s1ocki), Monday, 10 February 2014 21:25 (ten years ago) link
ya i thought of that and like is mail an industry or is the industry shipping where ups and fedex are stronger than ever and very much taking advantage of the internet and then theres the post office which is this weird government agency that really doesnt behave like a for profit company anyway and is def being replaced by email etc but did they really exist even in the first place
― lag∞n, Monday, 10 February 2014 21:53 (ten years ago) link
i mean the music industry for sure but that gets a major * cause it relied on the sort of insurgent illegality that wld never be tolerated w finance
― lag∞n, Monday, 10 February 2014 21:55 (ten years ago) link
http://www.btcreporter.com/wp-content/uploads/2013/05/bitcoin-atm.jpg
― hang son doong (am0n), Monday, 10 February 2014 21:57 (ten years ago) link
Aside from retail and print media, I don't know if it disrupted any entire capital I "Industries" but it definitely disrupted a lot of sort of sub-industries and service stuff -- e.g. there are tons of services for the legal and financial industries that no longer exist because of the internet. Probably a lot of logistics / supply-chain management-type behind-the-scenes services. Random other stuff like travel agencies, couriers, lol porn shops, video rentals, etc.
― Burt Stuntin (Hurting 2), Monday, 10 February 2014 22:01 (ten years ago) link
2ND SECURITY CAMERA (photographs yr dong)
― bizarro gazzara, Monday, 10 February 2014 22:02 (ten years ago) link
backlit topper is a must
― hang son doong (am0n), Monday, 10 February 2014 22:12 (ten years ago) link
http://i1.ytimg.com/vi/AbP0qsV5S48/hqdefault.jpg
― pplains, Monday, 10 February 2014 22:16 (ten years ago) link
Seriously, I must be 68 years old for making that post.
no, i was thinking it too; well played
― PSY talks The Nut Job (forksclovetofu), Tuesday, 11 February 2014 00:26 (ten years ago) link
@bitcoin_txt: Please do not compare Beanie Babies to bitcoin. Bitcoin is a medium of exchange. Beanie Babies was a toy that for some reason people valued
― lag∞n, Tuesday, 11 February 2014 00:38 (ten years ago) link
@bitcoin_txt: Please do not compare Beanie Babies to bitcoin. Beanie Babies are a medium of exchange. Bitcoin was a toy that for some reason people valued
― 龜, Tuesday, 11 February 2014 00:42 (ten years ago) link
Ty Warner lives out here. People really valued those beanie babies!
― the Norwegians are leaving! (Sufjan Grafton), Tuesday, 11 February 2014 00:48 (ten years ago) link
I think my grandma paid $200 for a Princess Di beanie baby. I wonder how many bitcoin my grandma would have were she still with us today.
― the Norwegians are leaving! (Sufjan Grafton), Tuesday, 11 February 2014 00:51 (ten years ago) link
limited edition Princess Di Bitcoin
― the Norwegians are leaving! (Sufjan Grafton), Tuesday, 11 February 2014 00:52 (ten years ago) link
sm one shd make beaniecoin
― lag∞n, Tuesday, 11 February 2014 00:52 (ten years ago) link
We have a box of fake Beanie Babies in our basement that we brought over from China back in the late 90s
We thought they'd appreciate in value
― 龜, Tuesday, 11 February 2014 00:54 (ten years ago) link
makin beaniecoin like heinz
― selfie bans make dwight the yorke (darraghmac), Tuesday, 11 February 2014 00:54 (ten years ago) link
http://www.wired.com/business/2014/02/rise-fall-rise-patrick-byrne
“Someday, either zombies walk the Earth or something close to that,” says Byrne, the son of the man who built the GEICO insurance empire, Jack Byrne, and a protege of Warren Buffet, the most successful investor in the history of Wall Street. “Bitcoin is the solution.”
― PSY talks The Nut Job (forksclovetofu), Wednesday, 12 February 2014 14:04 (ten years ago) link
https://www.youtube.com/watch?v=QhIz2Dz_KEE
Kinda feel bad for Rich :\
― 龜, Wednesday, 12 February 2014 14:36 (ten years ago) link
This is kinda like watching Hanson come back in 2009 ;(
― 龜, Wednesday, 12 February 2014 14:38 (ten years ago) link
http://i.imgur.com/NxLpcL2.gif
― action bronson pinchot (sanskrit), Wednesday, 12 February 2014 22:13 (ten years ago) link
“Someday, either zombies walk the Earth or something close to that,” says Byrne, the son of the man who built the GEICO insurance empire, Jack Byrne, and a protege of Warren Buffet, the most successful investor in the history of Wall Street. “Bitcoin is the solution.”― PSY talks The Nut Job (forksclovetofu), Wednesday, February 12, 2014 9:04 AM (11 hours ago) Bookmark Flag Post Permalink
this needs to be imprinted on every bitcoin
― johnny crunch, Thursday, 13 February 2014 01:50 (ten years ago) link
The problem with the modern economy, Byrne says, is that it rests on the whims of our government and our big banks, that each has the power to create money that’s backed by nothing but themselves. Thanks to what’s called fractional reserve banking, a bank can take in $10 in deposits, but then loan out $100. The government can make more dollars at any time, instantly reducing the currency’s value. Eventually, he says, laying down a classic libertarian metaphor, this “magic money tree” will come crashing down.
idg how you can be smart enough to run a giant company but stupid enough to believe stuff like this
― lag∞n, Thursday, 13 February 2014 02:10 (ten years ago) link
like theyre both money things
― lag∞n, Thursday, 13 February 2014 02:11 (ten years ago) link
lol nm
― lag∞n, Thursday, 13 February 2014 02:21 (ten years ago) link
― lag∞n, Wednesday, February 12, 2014 9:10 PM Bookmark Flag Post Permalink
― Burt Stuntin (Hurting 2), Thursday, 13 February 2014 06:04 (ten years ago) link
i mean not just from a corporate background but from an insurance background which I think of as a financially sophisticated business
― Burt Stuntin (Hurting 2), Thursday, 13 February 2014 06:07 (ten years ago) link
isnt the essence of bitcoin a bunch of people making up money out of thin air
― socki (s1ocki), Thursday, 13 February 2014 14:53 (ten years ago) link
*_*
― lag∞n, Thursday, 13 February 2014 14:55 (ten years ago) link
http://i.imgur.com/icUA8Bi.png
― diamonddave85 (diamonddave85), Thursday, 13 February 2014 16:56 (ten years ago) link
welp silk road 2 just got hacked
― frogbs, Thursday, 13 February 2014 21:43 (ten years ago) link
http://www.deepdotweb.com/2014/02/13/silk-road-2-hacked-bitcoins-stolen-unknown-amount
Maybe not hacked after all, see update 2.
― StanM, Friday, 14 February 2014 01:37 (ten years ago) link
crazy how all these places keep getting "hacked"
― lag∞n, Friday, 14 February 2014 01:47 (ten years ago) link
btw if you want a reliable place to buy drugz come to my new silk road three it is reliable i am not planning on stealing your btcoins at all why would u even think that damn man that hurts my feelings
― lag∞n, Friday, 14 February 2014 01:48 (ten years ago) link
do nerds have a real tough time finding drug dealers or something, i mean it's not the hardest thing in the world to do
― Clay, Friday, 14 February 2014 03:00 (ten years ago) link
lol yeah anytime something gets "hacked" in the bitcoin world it's generally code for "the admins ran off with everyone's money because there's no recourse"
― frogbs, Friday, 14 February 2014 04:48 (ten years ago) link
http://i.imgur.com/GNqe8bp.jpg
― AIDS (Hungry4Ass), Friday, 14 February 2014 16:58 (ten years ago) link
― Burt Stuntin (Hurting 2), Friday, 14 February 2014 17:01 (ten years ago) link
occupy silk road
― |$̲̅(̲̅ιοο̲̅)̲̅$̲̅| (gr8080), Friday, 14 February 2014 19:17 (ten years ago) link
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Monday, 17 February 2014 16:50 (ten years ago) link
irl
― lag∞n, Monday, 17 February 2014 17:43 (ten years ago) link
do nerds have a real tough time finding drug dealers or something, i mean it's not the hardest thing in the world to do― Clay, Friday, February 14, 2014 3:00 AM (3 days ago) Bookmark Flag Post Permalink
― Clay, Friday, February 14, 2014 3:00 AM (3 days ago) Bookmark Flag Post Permalink
a lot of nerd innovation comes from the desire to not leave the house
― calstars, Monday, 17 February 2014 18:37 (ten years ago) link
― lag∞n, Monday, 17 February 2014 18:44 (ten years ago) link
we just need denser cities then delivery service will flourish like in ny
― lag∞n, Monday, 17 February 2014 18:45 (ten years ago) link
http://www.thecrimson.com/article/2014/2/20/harvard-odyssey-dogecoin/
― am0n, Monday, 24 February 2014 18:18 (ten years ago) link
― diamonddave85 (diamonddave85), Monday, 24 February 2014 18:49 (ten years ago) link
mt gox deleted all of their tweets?
― calstars, Tuesday, 25 February 2014 00:56 (ten years ago) link
Dan @dankmtl 6mthank god I had all my bitcoins stored in the Digital Beanie Baby Exchange, not in the Magic the Gathering one
― lag∞n, Tuesday, 25 February 2014 05:38 (ten years ago) link
http://www.scribd.com/doc/209050732/MtGox-Situation-Crisis-Strategy-Draft
― Matt Armstrong, Tuesday, 25 February 2014 05:45 (ten years ago) link
whoa!
― Burt Stuntin (Hurting 2), Tuesday, 25 February 2014 05:52 (ten years ago) link
wowchoice quote (of many): Regardless of malleability and regulatory issues, MtGox's main problems are massive robbery and poor bitcoin accounting.
― ronald jerfman (anky), Tuesday, 25 February 2014 06:16 (ten years ago) link
Seems it could be fake? Idk
― 龜, Tuesday, 25 February 2014 06:18 (ten years ago) link
the price is plummeting:
https://bitcoinity.org/markets
― Burt Stuntin (Hurting 2), Tuesday, 25 February 2014 06:23 (ten years ago) link
whee, frefall
― Burt Stuntin (Hurting 2), Tuesday, 25 February 2014 06:28 (ten years ago) link
haha how r they trading them
― lag∞n, Tuesday, 25 February 2014 06:30 (ten years ago) link
http://i.imgur.com/W8OIFHF.png
― 龜, Tuesday, 25 February 2014 06:33 (ten years ago) link
there are a bunch of bitcoin exchanges, xp
https://bitcoinity.org/markets/bitstamp/USD
― Burt Stuntin (Hurting 2), Tuesday, 25 February 2014 06:42 (ten years ago) link
panic
― lag∞n, Tuesday, 25 February 2014 06:56 (ten years ago) link
my thoughts are with roy hibbert right now
― rhyme heals all goons (m bison), Tuesday, 25 February 2014 12:48 (ten years ago) link
i dont get how your bitcoins can be "trapped" in mt gox? doesnt everyone have like their own computerized or paper "wallets" where they store them? or the codes to them or wtv?
― socki (s1ocki), Tuesday, 25 February 2014 13:15 (ten years ago) link
you have to deposit them into mt gox to use the service then they steal them from u
― lag∞n, Tuesday, 25 February 2014 13:22 (ten years ago) link
http://www.theverge.com/2014/2/25/5445350/a-botnet-powered-crime-ring-is-stealing-bitcoin-wallets
― lag∞n, Tuesday, 25 February 2014 13:25 (ten years ago) link
what a beautiful dystopia
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Tuesday, 25 February 2014 14:21 (ten years ago) link
freedom is free
― lag∞n, Tuesday, 25 February 2014 14:27 (ten years ago) link
so mt gox stole 6% of all bitcoins lol
Taking Gox Mountain (By Strategy)
― 龜, Tuesday, 25 February 2014 14:29 (ten years ago) link
I've been waiting for William Gibson's world since 1990, nice to finally be here
― sleeve, Tuesday, 25 February 2014 15:12 (ten years ago) link
bitcoin.txt @bitcoin_txt 14mHold yourself accountable — I'd like to know why nobody is asking why YOU are not to blame. Why did YOU leave that much in an exchange?
― lag∞n, Tuesday, 25 February 2014 15:38 (ten years ago) link
when Bitcoin Twitter feeds go passive aggressive
― Kim Wrong-un (Neil S), Tuesday, 25 February 2014 15:44 (ten years ago) link
we are all in our own way mt gox when you think about it
― lag∞n, Tuesday, 25 February 2014 15:48 (ten years ago) link
speaking of cyberpunk bruce sterling is having a hella good time following this on twitter
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Tuesday, 25 February 2014 15:51 (ten years ago) link
oh I bet
― sleeve, Tuesday, 25 February 2014 16:04 (ten years ago) link
shouldve invested in dogecoin
― diamonddave85 (diamonddave85), Tuesday, 25 February 2014 16:06 (ten years ago) link
http://i.imgur.com/WwN9v0n.png
― |$̲̅(̲̅ιοο̲̅)̲̅$̲̅| (gr8080), Tuesday, 25 February 2014 16:59 (ten years ago) link
Doge has been steadily decreasing the last two weeks.
― calstars, Tuesday, 25 February 2014 17:57 (ten years ago) link
do we have an update on the progress of otm coin
― lag∞n, Tuesday, 25 February 2014 18:20 (ten years ago) link
current market capitalization is otm
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Tuesday, 25 February 2014 18:26 (ten years ago) link
im feeling generous
― am0n, Tuesday, 25 February 2014 18:37 (ten years ago) link
hard to feel sorry for people who buy into this thing but man that must suck
― goole, Tuesday, 25 February 2014 18:42 (ten years ago) link
yeah this is like what all the skeptics told us was gonna happen with online poker, except it actually happened
― frogbs, Tuesday, 25 February 2014 18:45 (ten years ago) link
tbf it actually happened with online poker too
― lag∞n, Tuesday, 25 February 2014 18:47 (ten years ago) link
no you just lost
― socki (s1ocki), Tuesday, 25 February 2014 18:53 (ten years ago) link
uh, what happened to online poker? the gov't banned it? mtgox's insolvency is some kind of megaswindle, right?
― goole, Tuesday, 25 February 2014 18:55 (ten years ago) link
tho since you brought it up now i desperately want to know tommy deathdrone's bitcoin thots
― goole, Tuesday, 25 February 2014 18:56 (ten years ago) link
http://en.wikipedia.org/wiki/Full_Tilt_Poker#Legal_matters
― lag∞n, Tuesday, 25 February 2014 18:57 (ten years ago) link
I wish his website was still up for that very reason, he's exactly the sort of person who would lose his life savings on this
― frogbs, Tuesday, 25 February 2014 18:58 (ten years ago) link
uh, what happened to online poker? the gov't banned it?
― goole, Tuesday, February 25, 2014 1:55 PM (2 minutes ago) Bookmark Flag Post Permalink
basically one of the biggest poker sites was embezzling players money but no one noticed until the government shut them down
― lag∞n, Tuesday, 25 February 2014 18:59 (ten years ago) link
there were other online poker cheating inside jobs too
― lag∞n, Tuesday, 25 February 2014 19:00 (ten years ago) link
yeah a lot of things went sour in a short period of time but it's my understanding that most people got their money back at least
― frogbs, Tuesday, 25 February 2014 19:02 (ten years ago) link
"I like to pay taxes. With them I get these chuckleheads' vig refunded."
-- Oliver Wendell Holmes
― goole, Tuesday, 25 February 2014 19:07 (ten years ago) link
Ok who's in to start Ilxcoin
― calstars, Tuesday, 25 February 2014 19:27 (ten years ago) link
http://i.imgur.com/mUq8QdB.gif
― frogbs, Tuesday, 25 February 2014 19:28 (ten years ago) link
Alternate names for ilxcoin:
nedcoinfapcoinopxcoin
― calstars, Tuesday, 25 February 2014 19:29 (ten years ago) link
would invest in nabiscoin
― mookieproof, Tuesday, 25 February 2014 19:29 (ten years ago) link
wrinklecoin
― sent as gassed to onto rt dominance (DJP), Tuesday, 25 February 2014 19:30 (ten years ago) link
ILXcoin wallet must be called a cigar box
― diamonddave85 (diamonddave85), Tuesday, 25 February 2014 19:31 (ten years ago) link
― calstars, Tuesday, February 25, 2014 2:27 PM (4 minutes ago) Bookmark Flag Post Permalink
― calstars, Tuesday, February 25, 2014 2:29 PM (3 minutes ago) Bookmark Flag Post Permalink
um helloww dummies
― lag∞n, Tuesday, February 25, 2014 1:20 PM (1 hour ago) Bookmark Flag Post Permalink
― lag∞n, Tuesday, 25 February 2014 19:34 (ten years ago) link
otmcoins only have value if you have 8080 of them
― death and darkness and other night kinda shit (crüt), Tuesday, 25 February 2014 19:37 (ten years ago) link
Otm ^
― calstars, Tuesday, 25 February 2014 19:43 (ten years ago) link
|$̲̅(̲̅8ο8ο̲̅)̲̅$̲̅|
― mookieproof, Tuesday, 25 February 2014 19:52 (ten years ago) link
YSIneverForgetCoin
― Chewshabadoo, Tuesday, 25 February 2014 20:14 (ten years ago) link
Does OTMCoin have an exchange?A: No, it trades OTC
― Burt Stuntin (Hurting 2), Tuesday, 25 February 2014 20:15 (ten years ago) link
― sent as gassed to onto rt dominance (DJP), Tuesday, February 25, 2014 7:30 PM (53 minutes ago) Bookmark Flag Post Permalink
lol this is such a gross coinage
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Tuesday, 25 February 2014 20:25 (ten years ago) link
gross coinage is what we aim for
― Burt Stuntin (Hurting 2), Tuesday, 25 February 2014 20:27 (ten years ago) link
at wrinkelcoin
*kle
ill crypto-currency, hoos
― °ㅇo ๐ْ ° (gr8080), Tuesday, 25 February 2014 20:34 (ten years ago) link
http://www.wired.com/wiredenterprise/2014/02/bitcoins-mt-gox-implodes/
― am0n, Tuesday, 25 February 2014 20:52 (ten years ago) link
BIT HOOS aka the coindriver
― james franco tur(oll)ing test (Hurting 2), Tuesday, 25 February 2014 20:54 (ten years ago) link
omg can we call it BitHoos?
http://htmlimg1.scribdassets.com/5mjihmd8g03j0awi/images/9-ae5ce825d8.jpg
― PSY talks The Nut Job (forksclovetofu), Tuesday, 25 February 2014 20:59 (ten years ago) link
Dear MtGox Customers,
In light of recent news reports and the potential repercussions on MtGox's operations and the market, a decision was taken to close all transactions for the time being in order to protect the site and our users. We will be closely monitoring the situation and will react accordingly.
Best regards,MtGox Team
― am0n, Tuesday, 25 February 2014 21:11 (ten years ago) link
http://i.imgur.com/rM1XWy1.jpg
― diamonddave85 (diamonddave85), Tuesday, 25 February 2014 21:24 (ten years ago) link
oh not its headed right for the hole fellas
― lag∞n, Tuesday, 25 February 2014 21:26 (ten years ago) link
don't go in there, stupid arrow!
― am0n, Tuesday, 25 February 2014 21:46 (ten years ago) link
we will be closely monitoring our own situation
― socki (s1ocki), Tuesday, 25 February 2014 21:47 (ten years ago) link
and i suggest you all do the same, only god can judge
― lag∞n, Tuesday, 25 February 2014 21:48 (ten years ago) link
we plan to have a reaction to all of this at some point
― am0n, Tuesday, 25 February 2014 21:56 (ten years ago) link
important political cartoon
http://4.bp.blogspot.com/_JlyOA9at_H0/TC3luacHvPI/AAAAAAAAEFA/-oMxAo0WB_Q/s400/Gox.Seuss.jpg
― dmr, Tuesday, 25 February 2014 22:15 (ten years ago) link
http://z1x.dk/images/010.jpg
― am0n, Tuesday, 25 February 2014 22:35 (ten years ago) link
https://pbs.twimg.com/media/BhXIF2ECEAAnhGA.png
― lag∞n, Wednesday, 26 February 2014 01:02 (ten years ago) link
https://pbs.twimg.com/media/BhWDwHHCQAAOHDC.png
― The Wisdom of Gafflers (JoeStork), Wednesday, 26 February 2014 01:43 (ten years ago) link
Shibes take a step back
― 龜, Wednesday, 26 February 2014 01:44 (ten years ago) link
satirical money is a really far out idea
― lag∞n, Wednesday, 26 February 2014 01:53 (ten years ago) link
god what a weird world
― death and darkness and other night kinda shit (crüt), Wednesday, 26 February 2014 02:02 (ten years ago) link
was dogecoin not actually made to mock the whole bitcoin idea
― frogbs, Wednesday, 26 February 2014 02:17 (ten years ago) link
you can wager on anything these days, even parodies
― mookieproof, Wednesday, 26 February 2014 02:18 (ten years ago) link
omg at the four part strategy is that real? is there a number for going deeeeeep underground and hoping all involved don't get merked?
― flying under the radar because i'm bad (Hunt3r), Wednesday, 26 February 2014 02:57 (ten years ago) link
about 4% of all BTC in circulation is stolen every year. lol
http://duncanpredicts.wordpress.com/2014/02/25/bitcoins-and-bank-robberies
― lag∞n, Wednesday, 26 February 2014 03:14 (ten years ago) link
dumb q: why do ppl buy bitcoins when us money still works?
― rhyme heals all goons (m bison), Wednesday, 26 February 2014 03:16 (ten years ago) link
bitcoin is like money but with the added frisson of walking through a rookery jangling a bag of gold coins
― American Fear of Pranksterism (Ed), Wednesday, 26 February 2014 03:19 (ten years ago) link
I consider myself fully hedged against the disruption of the banking system by the onrushing cryptocurriency revolution, I have 0.04BTC and 8.04doges
― American Fear of Pranksterism (Ed), Wednesday, 26 February 2014 03:22 (ten years ago) link
a: cause you can't mine us money w/ sweet battlestations
http://i.imgur.com/h84QI9K.jpg
― Call me Shitmael (CompuPost), Wednesday, 26 February 2014 03:23 (ten years ago) link
lol at pointless old mointors
― lag∞n, Wednesday, 26 February 2014 03:43 (ten years ago) link
― rhyme heals all goons (m bison), Wednesday, 26 February 2014 03:16 (42 minutes ago) Permalink
because they want to make a quick buck
― iatee, Wednesday, 26 February 2014 04:00 (ten years ago) link
make a quick dogecoin
― 龜, Wednesday, 26 February 2014 04:01 (ten years ago) link
Now, to take the ferry cost a coin, and in those days, coins had pictures of doges on 'em. Gimme five doges for a bit, you'd say.
― 龜, Wednesday, 26 February 2014 04:03 (ten years ago) link
― rhyme heals all goons (m bison), Tuesday, February 25, 2014 7:16 PM (55 minutes ago) Bookmark
free fedora w/ every purchase
― Clay, Wednesday, 26 February 2014 04:14 (ten years ago) link
IT'S A TRILBY YOU FILTHY CASUAL
― james franco tur(oll)ing test (Hurting 2), Wednesday, 26 February 2014 04:16 (ten years ago) link
― 龜, Tuesday, February 25, 2014 8:44 PM (2 hours ago) Bookmark Flag Post Permalink
― socki (s1ocki), Wednesday, 26 February 2014 04:40 (ten years ago) link
Shibes leave
― real myst opportunity (sleepingbag), Wednesday, 26 February 2014 04:45 (ten years ago) link
― socki (s1ocki), Wednesday, 26 February 2014 14:35 (ten years ago) link
shibes pootawn
― am0n, Wednesday, 26 February 2014 15:29 (ten years ago) link
http://www.ariannasimpson.com/this-is-what-its-like-to-be-a-woman-at-a-bitcoin-meetup/
― goole, Wednesday, 26 February 2014 16:50 (ten years ago) link
dying at 1 penny doge tip to guy who lost 2 million fiat in btc.
― action bronson pinchot (sanskrit), Wednesday, 26 February 2014 16:55 (ten years ago) link
Shibes take two steps forwardShibes take two steps back
― sent as gassed to onto rt dominance (DJP), Wednesday, 26 February 2014 16:58 (ten years ago) link
http://www.ariannasimpson.com/this-is-what-its-like-to-be-a-woman-at-a-bitcoin-meetup/― goole, Wednesday, February 26, 2014 11:50 AM
― am0n, Wednesday, 26 February 2014 17:36 (ten years ago) link
these fellows were clearly thrilled at the presence of two women at the event.
― am0n, Wednesday, 26 February 2014 17:43 (ten years ago) link
see also
Shit /r/Bitcoin says @shit_rbtc_says Feb 16Women don't understand Bitcoin, it's not being mentioned in Soap OperasExpand Reply Retweet Favorite More
― james franco tur(oll)ing test (Hurting 2), Wednesday, 26 February 2014 17:48 (ten years ago) link
only the superior male can grok losing their fortune thru hi-tech junk bonds
― am0n, Wednesday, 26 February 2014 17:50 (ten years ago) link
Anyways ladies, ignore the naysayers and get out to those Bitcoin meetups!
actual archy-eyebrowed lols
― flying under the radar because i'm bad (Hunt3r), Wednesday, 26 February 2014 19:25 (ten years ago) link
json on Feb 4, 6:39 PM said:Wow.Get over yourself. So you met a few weird guys, big whoop. To somehow translate that experience to mean that every male who is interested in Bitcoin is some creep just shows a narrow, self-centered and simple way of thinking.
― am0n, Wednesday, 26 February 2014 19:50 (ten years ago) link
#actually
― lag∞n, Wednesday, 26 February 2014 19:51 (ten years ago) link
implied "typical of a woman" at the end of that amirite
― james franco tur(oll)ing test (Hurting 2), Wednesday, 26 February 2014 19:51 (ten years ago) link
big whoop
― diamonddave85 (diamonddave85), Wednesday, 26 February 2014 19:52 (ten years ago) link
Wow.Get over yourself. Big whoop.
― lag∞n, Wednesday, 26 February 2014 19:54 (ten years ago) link
https://www.youtube.com/watch?v=VEyMmolRguE
― am0n, Friday, 28 February 2014 20:27 (ten years ago) link
http://i.imgur.com/B1Ajc8j.jpg
― am0n, Friday, 28 February 2014 20:28 (ten years ago) link
― chive on you crazy diamond (diamonddave85), Friday, 28 February 2014 20:35 (ten years ago) link
~_~
― lag∞n, Friday, 28 February 2014 20:45 (ten years ago) link
http://dzoba.com/apparently-mt-gox-has-been-hacked-againby-people-trying-to-find-out-what-happened/
― am0n, Monday, 3 March 2014 23:28 (ten years ago) link
emma: nanashi____: please have the hackers you are working for send 120 BTC here 12GfYyWivb8TDFD38BhWD1zKASNenxdFEg That was my money I need to pay my loans.
― am0n, Monday, 3 March 2014 23:34 (ten years ago) link
they dumped some of the source code and lol
― frogbs, Tuesday, 4 March 2014 01:57 (ten years ago) link
!
― i have the new brutal HOOS if you want it (BIG HOOS aka the steendriver), Tuesday, 4 March 2014 20:05 (ten years ago) link
The 1,719 lines of commented PHP code posted over the weekend include code to access individual customers’ Bitcoin wallets and to process transactions. MtGox’s Bitcoin node IP address is hard-encoded in the server code, as are SSH keys used to connect to MtGox’s transaction processing server. Anyone who had access to the server running this code could have easily redirected transactions or pillaged the Bitcoin wallets of customers.
― am0n, Tuesday, 4 March 2014 21:49 (ten years ago) link
hoo boy
― chive on you crazy diamond (diamonddave85), Tuesday, 4 March 2014 21:53 (ten years ago) link
https://bitcointalk.org/index.php?topic=379936.0
― Roberto Spiralli, Tuesday, 4 March 2014 22:01 (ten years ago) link
even by bitcoiner standards that is an awful analogy
― frogbs, Tuesday, 4 March 2014 22:11 (ten years ago) link
it's a popular one -- "the internet of money" etc., I've already heard it a bunch of times
― james franco tur(oll)ing test (Hurting 2), Tuesday, 4 March 2014 22:13 (ten years ago) link
its almost as if they are unaware that you can already send money through the internet
― frogbs, Tuesday, 4 March 2014 22:42 (ten years ago) link
http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html
this is pretty otm
― frogbs, Tuesday, 4 March 2014 22:45 (ten years ago) link
the hyperbole of bitcoin enthusiasts have definitely not helped it gain wider acceptance, but I don't think we're seeing the last gasps of bitcoin just yet
― james franco tur(oll)ing test (Hurting 2), Tuesday, 4 March 2014 22:53 (ten years ago) link
bitcoin was dead before it launched, i mean even if the protocol is somehow useful, which i doubt, it wont be like actual bitcoin thats successful itll be something else thats part of some much better thought out system than this weird pseudo mining commodity bs
― lag∞n, Wednesday, 5 March 2014 01:59 (ten years ago) link
i dunno if i should believe lag∞n or erik vorhees!
― mookieproof, Wednesday, 5 March 2014 02:09 (ten years ago) link
erik v∞rhees
― 龜, Wednesday, 5 March 2014 02:11 (ten years ago) link
I feel like I became hypnotized reading that name
― james franco tur(oll)ing test (Hurting 2), Wednesday, 5 March 2014 02:13 (ten years ago) link
at least the acquisition of gold is based on your labor and physical property rights you've acquired, or the labor you hired and the property rights you've acquired, or the labor you enslaved and the property rights you've acquired. bitmining is just how many apus you have and how much carbon you can burn. some weak shit, real men wanna see labor and physical property put to work.
― blot it out (Hunt3r), Wednesday, 5 March 2014 03:25 (ten years ago) link
in a sense you have enslaved your computers
― socki (s1ocki), Wednesday, 5 March 2014 03:31 (ten years ago) link
http://en.wikipedia.org/wiki/Master/slave_(technology)
― am0n, Wednesday, 5 March 2014 04:05 (ten years ago) link
the air core fibers are slaves to the high frequency traders
― 4. Nels Cline and My Uncle Eat Soup at Panera Bread (3:37) (Sufjan Grafton), Wednesday, 5 March 2014 06:22 (ten years ago) link
http://www.mazacoin.org/
― am0n, Wednesday, 5 March 2014 18:00 (ten years ago) link
ma$ecoin
― goole, Wednesday, 5 March 2014 18:19 (ten years ago) link
http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html
KibblesAhoy • 2 hours agoIf something happens to him, the blood is on Leah Goodman's hands. It's too late now. What a sad day for journalism.
― am0n, Thursday, 6 March 2014 15:31 (ten years ago) link
QA • 3 hours agoNewsweek is going to be responsible for this man's death.
― am0n, Thursday, 6 March 2014 15:33 (ten years ago) link
Killer • an hour agoWe will offer 10.000BTC the head of the journalist in DeepWeb!
Kizone Kaprow Killer • an hour ago^^Ladies and gentlemen, the true face of anarcho-libertarianism.
― am0n, Thursday, 6 March 2014 15:42 (ten years ago) link
So these people think that, like, the CIA/Illuminati is going to kill Satoshi for disrupting the world banking system or whatever?
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 15:55 (ten years ago) link
no they think he'll be killed for the pile of chuck e. cheese coins he's been sitting on since the beginning
― am0n, Thursday, 6 March 2014 16:39 (ten years ago) link
apparently he has millions of billions in btc
― am0n, Thursday, 6 March 2014 16:40 (ten years ago) link
Why would you want the coins when it's the tickets that serve as currency to buy goods and toys with.
― pplains, Thursday, 6 March 2014 16:40 (ten years ago) link
The Japanese pronunciation of "Gox" sounds quite similar to an extremely vulgar phrase meaning "gulping down shit". Just putting that out there for y'all.
― Jersey Al (Albert R. Broccoli), Thursday, March 6, 2014 9:19 AM (2 minutes ago)
― Jersey Al (Albert R. Broccoli), Thursday, 6 March 2014 17:22 (ten years ago) link
lol that there's two identical bitcoin threads
― PSY talks The Nut Job (forksclovetofu), Thursday, 6 March 2014 17:25 (ten years ago) link
that's why I'm creating Bitthread, which solves the Ottoman Corporals Problem (aka the doublethread problem)
― james franco tur(oll)ing test (Hurting 2), Thursday, 6 March 2014 17:31 (ten years ago) link
this is the one that's impossible to search for
― socki (s1ocki), Thursday, 6 March 2014 17:46 (ten years ago) link
why would u need 2 search for a thread living at the top of noise board new answers
― am0n, Thursday, 6 March 2014 17:54 (ten years ago) link
because u r npr
― PSY talks The Nut Job (forksclovetofu), Thursday, 6 March 2014 18:00 (ten years ago) link
im national public radio? what?
― am0n, Thursday, 6 March 2014 18:01 (ten years ago) link
whoops, I meant to post that in the real thread, not this lamestream NPR-ready one.― Jersey Al (Albert R. Broccoli), Thursday, March 6, 2014 5:22 PM
― PSY talks The Nut Job (forksclovetofu), Thursday, 6 March 2014 18:02 (ten years ago) link
^^^ #thestruggleisreal
― Jersey Al (Albert R. Broccoli), Thursday, 6 March 2014 18:05 (ten years ago) link
Why would you want the coins when it's the tickets that serve as currency to buy goods and toys with.― pplains, Thursday, March 6, 2014 11:40 AM
the tokens (btc) get exchanged in the games (deep web) for the tickets (fiat dollars)
― am0n, Thursday, 6 March 2014 18:09 (ten years ago) link
Each token is not worth the same amount of tickets though, depending upon your skill level at skee-ball.
this is where bit¢oin dealers will compete, in exchange rate/level-ups/plastic alligators.
― pplains, Thursday, 6 March 2014 18:29 (ten years ago) link
exactly bitcoin mining is pretty much skee-ball
― am0n, Thursday, 6 March 2014 19:09 (ten years ago) link
http://i.imgur.com/KuhLu12.jpg
creepin on coins
― lag∞n, Tuesday, 11 March 2014 17:53 (ten years ago) link
somewhat relatedhttp://imgur.com/gallery/SjcgE
― Jersey Al (Albert R. Broccoli), Tuesday, 11 March 2014 17:53 (ten years ago) link
― lag∞n, Tuesday, 11 March 2014 17:57 (ten years ago) link
http://www.beepboopbitcoin.com/
― wat is teh waht (s.clover), Thursday, 3 April 2014 04:45 (ten years ago) link
http://i.imgur.com/monolxW.png
― °ㅇ๐ْ ° (gr8080), Thursday, 3 April 2014 13:37 (ten years ago) link
love that cookie clicker style bitcoin game.
― We hugged with no names exchanged (forksclovetofu), Thursday, 3 April 2014 16:19 (ten years ago) link
ביטקוין
― james franco tur(oll)ing test (Hurting 2), Thursday, 3 April 2014 19:28 (ten years ago) link
You're the world's first digital cryptohuman. You're the blockchain made flesh.
― real myst opportunity (sleepingbag), Thursday, 3 April 2014 19:40 (ten years ago) link
http://i.imgur.com/H4MexQE.png
http://i.imgur.com/fJhVKgT.png
― diamonddave85 (diamonddave85), Monday, 14 April 2014 23:00 (ten years ago) link
― am0n, Tuesday, 15 April 2014 02:23 (ten years ago) link
http://www.wired.com/2014/04/megan-miller-bitcoin/
― 龜, Tuesday, 15 April 2014 06:31 (ten years ago) link
http://pando.com/2014/05/26/calling-all-bulls-bitcoin-climbs-32-in-a-week-prompting-cheers-of-to-the-moon/
― Look at this joke I've recognised, do you recognise it as well? (forksclovetofu), Tuesday, 27 May 2014 16:44 (nine years ago) link
http://www.coindesk.com/two-charts-difference-bitcoin-fiat-payments/
― wat is teh waht (s.clover), Sunday, 1 June 2014 06:53 (nine years ago) link
http://media.coindesk.com/2014/05/GlenbrookCorrespondentBanking.png
http://media.coindesk.com/2014/05/functionsofmoney.jpg
― wat is teh waht (s.clover), Sunday, 1 June 2014 06:54 (nine years ago) link
http://www.usmarshals.gov/assets/2014/bitcoins/
― am0n, Friday, 13 June 2014 16:06 (nine years ago) link
THIS AUCTION IS FOR THE BITCOINS CONTAINED IN WALLET FILES THAT RESIDED ON SILK ROAD SERVERS, INCLUDING THE SERVERS ASSIGNED THE FOLLOWING INTERNET PROTOCOL ADDRESSES: 46.183.219.244; 109.163.234.40; 193.107.86.34; 193.107.86.49; 207.106.6.25; AND 207.106.6.32 (“SILKROAD SEIZED COINS”).
― am0n, Friday, 13 June 2014 16:08 (nine years ago) link
29,656 bitcoins is supposedly worth $17.5 million right now. I'm surprised that the gov't is granting bitcoins the legitimacy of treating them like actual property, or currency, or whatever.
― Dan I., Friday, 13 June 2014 16:55 (nine years ago) link
I think the IRS already found them to be property. Really I don't think they're "granting legitimacy" by doing so, it's not like the government has broad control over what can be considered a thing that can be bought with money.
― Hier Komme Die Warum Jetzt (Hurting 2), Friday, 13 June 2014 16:59 (nine years ago) link
its basically like selling off a gangster's car, the stuff is property and it's taxed as property and if they can get some revenue from it why not
― Maggie killed Quagmire (collest baby ever) (frogbs), Friday, 13 June 2014 17:02 (nine years ago) link
http://i.kinja-img.com/gawker-media/image/upload/s--f7VCfpf6--/c_fit,fl_progressive,q_80,w_636/773507390726026922.jpg
― ⓢⓗⓘⓣ (am0n), Wednesday, 18 June 2014 16:46 (nine years ago) link
oh you laugh now
― Look at this joke I've recognised, do you recognise it as well? (forksclovetofu), Wednesday, 18 June 2014 17:15 (nine years ago) link
Bolivia bans bitoins!http://www.erbol.com.bo/noticia/economia/20062014/bolivia_el_primer_pais_americano_en_prohibir_bitcoin
― o_o, Friday, 20 June 2014 22:19 (nine years ago) link
Bolivia knows nothing about noise currency
― Dreamland, Friday, 20 June 2014 22:24 (nine years ago) link
https://twitter.com/bn2b/status/487245850431991809
― goole, Thursday, 10 July 2014 15:51 (nine years ago) link
and the tiny table
― ⓢⓗⓘⓣ (am0n), Thursday, 10 July 2014 16:29 (nine years ago) link
lean couches iirc
― hug niceman (psychgawsple), Thursday, 10 July 2014 17:49 (nine years ago) link
disrupt
― °ㅇ๐ْ ° (gr8080), Thursday, 10 July 2014 18:06 (nine years ago) link
http://www.thecoinsman.com/2014/08/bitcoin/inside-chinese-bitcoin-mine
― 龜, Sunday, 24 August 2014 01:33 (nine years ago) link
Too many in the world get paid well at the expense of others, or dedicate their lives to giving back to society without a penny in return, but mining farms like these are participating in the economy in a purely capitalist way
this rather undoes the 'its a currency not a commodity' claim underneath the whole belief system
― ✓ corton charlemagne (nakhchivan), Sunday, 24 August 2014 01:56 (nine years ago) link
the abstract uselessness of all of that 'economic particiaption' is quite beautiful though
― ✓ corton charlemagne (nakhchivan), Sunday, 24 August 2014 01:59 (nine years ago) link
golden ball: the ultimate humiliation
yeah, you know I watched somebody play this when it was all white tendency and it's about, oh, half to a quarter as hard as it is on all black. Good luck with that.Btw, do NOT try to grind before you beat the first boss. You start grinding after that.
poor Ikerhttps://vine.co/v/M9YVapLIYWL
https://vine.co/v/M9YVapLIYWL
― JLB Credit (Jack BS), Sunday, 24 August 2014 04:03 (nine years ago) link
M
Zing malfunction pls ignore/delete
― JLB Credit (Jack BS), Sunday, 24 August 2014 04:04 (nine years ago) link
https://www.youtube.com/watch?v=DuQZTAJ2KLk
― 龜, Monday, 25 August 2014 19:10 (nine years ago) link
https://www.youtube.com/watch?v=YrNnrvet7Ao
― am0n, Monday, 25 August 2014 19:58 (nine years ago) link
Tony Jah4 days ago Quark is just another pointless shitcoin for people thinking they missed the bitcoin boat.
― Nothing less than the Spirit of the Age (nakhchivan), Monday, 25 August 2014 20:04 (nine years ago) link
http://www.reuters.com/article/2014/08/29/us-usa-crime-bitcoin-idUSKBN0GT2J420140829
― am0n, Tuesday, 2 September 2014 21:33 (nine years ago) link
I think we may be entering our final descent
― Maggie killed Quagmire (collest baby ever) (frogbs), Monday, 6 October 2014 02:51 (nine years ago) link
http://static4.businessinsider.com/image/5431ca6c6bb3f7fd40a032a4-1014-437/screen%20shot%202014-10-05%20at%206.40.42%20pm.png
― the other song about butts in the top 5 (forksclovetofu), Monday, 6 October 2014 02:57 (nine years ago) link
rip i will miss the millions of tossed off ideas by tech luminaries and randos alike about how u were going to disrupt global finance
― lag∞n, Monday, 6 October 2014 03:06 (nine years ago) link
"you can do anything with the blockchain" --people
― lag∞n, Monday, 6 October 2014 03:07 (nine years ago) link
something weird is happening at the $300 price point. dunno if it's bots or someone selling a massive amount to themselves but there was an insane buywall there
― Maggie killed Quagmire (collest baby ever) (frogbs), Monday, 6 October 2014 03:24 (nine years ago) link
Wait. I meant sell wall. Someone dumped like 25k coins at $300 apiece and the price has gone up since then. we're back to the levels of, say...Friday
― Maggie killed Quagmire (collest baby ever) (frogbs), Tuesday, 7 October 2014 03:52 (nine years ago) link
http://bitcoinexaminer.org/fire-destroys-massive-bitcoin-mining-operation-thailand/
― 龜, Tuesday, 11 November 2014 12:29 (nine years ago) link
― lag∞n, Tuesday, 11 November 2014 13:03 (nine years ago) link
The picture identified the mining operation as property of the group Cowboyminers, a team of European crypto-supporters currently based in Bangkok
― lag∞n, Tuesday, 11 November 2014 13:05 (nine years ago) link
According to Spondoolies-Tech, the equipment was uninsured and the warehouse’s “buildup was definitely not according to US electric code”.(...)the culprit should be the flammable acoustic foam embedded into the warehouse’s walls.
(...)the culprit should be the flammable acoustic foam embedded into the warehouse’s walls.
a true libertarian utopia
― controversial but fabulous (I DIED), Tuesday, 11 November 2014 13:32 (nine years ago) link
Thought this bump would be about Silk Road 2 getting taken down, long story short someone from the FBI was an admin from day one and has everyone's addresses, lol
― Abstinence Hawk (frogbs), Tuesday, 11 November 2014 13:33 (nine years ago) link
― 龜, Tuesday, 11 November 2014 13:37 (nine years ago) link
this whole thing is like a neal stephenson story rewritten in the style of chris morris' four lions
― bizarro gazzara, Tuesday, 11 November 2014 16:16 (nine years ago) link
BTW my bitcoin-loving computer programmer relative has gotten off the bitcoin train, moved on to other things, so the shine is definitely off
― my jaw left (Hurting 2), Tuesday, 11 November 2014 16:18 (nine years ago) link
another category to add to the list of terrible westerners you meet traveling in asia
― lag∞n, Tuesday, 11 November 2014 16:18 (nine years ago) link
Oh man I have a story about that from a friend that I shouldn't post online
― 龜, Tuesday, 11 November 2014 16:37 (nine years ago) link
you can post it, just change your friend's name to "Dan Y."
― Roberto Spiralli, Tuesday, 11 November 2014 18:05 (nine years ago) link
Roberto S.!
― 龜, Tuesday, 11 November 2014 18:10 (nine years ago) link
Anyway the story is my friend (who is white) was sitting at an airport in China one day waiting for his flight
This other white guy sits next to him and strikes up a conversation
Within 5 minutes the other white guy is telling my friend how he's a professor at [x] university in [y big city] in China
And that he's had sex with a number of his grad students in exchange for approving their topics, being their advisor, etc. etc.
Like putting aside the awfulness of it, it just made me think how terrible westerners in Asia feel like they have nobody to brag about their 'conquests' to and will literally tell the first white person they see at an airport
― 龜, Tuesday, 11 November 2014 18:13 (nine years ago) link
vom
― Roberto Spiralli, Tuesday, 11 November 2014 18:19 (nine years ago) link
certainly a novel form of sex tourism
― lag∞n, Tuesday, 11 November 2014 18:44 (nine years ago) link
In conclusion if you're an old white guy traveling in Asia wearing a loose button down and socks with sandals I'm gonna give you a severe side eye
― 龜, Tuesday, 11 November 2014 18:50 (nine years ago) link
feel like if youre wearing a safari vest tho that makes u respectable prob just there to look at birds and/or ruins
― lag∞n, Tuesday, 11 November 2014 18:52 (nine years ago) link
Those dudes might just be in disguise. Check their bag to see if they brought a pair of binoculars
― 龜, Tuesday, 11 November 2014 18:55 (nine years ago) link
Dude with binoculars you're free to go. But guy with just the Go Pro is pretty sus and I won't be sitting next to him
― 龜, Tuesday, 11 November 2014 18:56 (nine years ago) link
they have so many pockets tho will take all day
― lag∞n, Tuesday, 11 November 2014 18:56 (nine years ago) link
holy shit that story
― goole, Tuesday, 11 November 2014 19:23 (nine years ago) link
i figure anyone rocking the "80s cohost of the victory garden" look is deeply suspect no matter the continent
― goole, Tuesday, 11 November 2014 19:24 (nine years ago) link
Probably appropriate that I am sharing this story on the same day that Gary Glitter appeared in court
― 龜, Tuesday, 11 November 2014 19:25 (nine years ago) link
andrew from yo is this racist joked on one episode of his podcast that maybe there really is such a thing as "white mans burden" in that being white means you have to deal with other white people automatically assuming it's cool to say gross racist shit around you all the time
― ✓ out this insane nakh yall (gr8080), Thursday, 13 November 2014 12:27 (nine years ago) link
Ah, he’s been to one of my families parties then?
― Chewshabadoo, Thursday, 13 November 2014 18:15 (nine years ago) link
https://pbs.twimg.com/media/B2gCH08CMAIsI4r.jpg
― lag∞n, Sunday, 16 November 2014 19:41 (nine years ago) link
bcoin > google
from dis tweet
Rose Broome @rosical Nov 15What is this Bitcoin thing anyway? @balajis from @a16z tells us. #ThielSummit
― lag∞n, Sunday, 16 November 2014 19:42 (nine years ago) link
firm highly invested in bitcoin economy tells u why bitcoin is so good
― lag∞n, Sunday, 16 November 2014 19:46 (nine years ago) link
http://stpetersburgbowl.com/wp-content/themes/digalign/images/logo.png
― mookieproof, Tuesday, 18 November 2014 22:51 (nine years ago) link
Mayor Mike Duggan detailed Monday how Detroit has been victimized by cyber crimes, including how a city database was frozen in April and held for ransom.Duggan said the city database was held hostage for a ransom of 2,000 bitcoins, an encrypted digital currency. A bitcoin is currently worth $401.75, making that ransom worth $803,500. Duggan said the ransom was not paid and the database wasn’t used or needed by the city.
Duggan said the city database was held hostage for a ransom of 2,000 bitcoins, an encrypted digital currency. A bitcoin is currently worth $401.75, making that ransom worth $803,500. Duggan said the ransom was not paid and the database wasn’t used or needed by the city.
― anonanon, Tuesday, 18 November 2014 23:10 (nine years ago) link
lol but sad
― pplains, Wednesday, 19 November 2014 00:47 (nine years ago) link
http://gawker.com/magical-thinking-bitcoin-gathers-at-disney-1644521971
― 龜, Monday, 1 December 2014 20:51 (nine years ago) link
A hyperactive child stomped down the aisle as the cake crowd dwindled, shouting "I'M SATOSHI NAKAMOTO! I INVENTED BITCOIN!" over and over, to the delight of every guest.
― Lorde 2Pac Beck Mashup (crüt), Monday, 1 December 2014 21:53 (nine years ago) link
That article made me feel cringeley depressed
― Gumbercules? I love that guy! (Trayce), Monday, 1 December 2014 22:23 (nine years ago) link
there really is almost no difference between bitcoin and a fully blown cult now is there
― Abstinence Hawk (frogbs), Wednesday, 3 December 2014 15:06 (nine years ago) link
https://vine.co/v/OrweWXlApWb
― mookieproof, Monday, 8 December 2014 19:42 (nine years ago) link
Bitstamp got "hacked" for 17k (or $5 million worth), Vault of Satoshi shuts down, seems like someone anticipated this and dumped a bunch of coins onto the market over the weekend, dropping the price to sub-270 levels. If Bitstamp runs like Gox it could drop it even further. And the BFL liquidation/subsequent panic selling hasn't even happened yet. Good time to sell short.
― Abstinence Hawk (frogbs), Tuesday, 6 January 2015 17:49 (nine years ago) link
http://bitcoinity.org/markets/bitstamp/USD
what is happening here
― Abstinence Hawk (frogbs), Wednesday, 14 January 2015 13:00 (nine years ago) link
the bitcoin chart for the last two years is starting to look almost exactly like that chart of the phases of a speculative asset
― walid foster dulles (man alive), Wednesday, 14 January 2015 14:46 (nine years ago) link
wait waht
― Ratt in Mi Kitchen (Neil S), Wednesday, 14 January 2015 14:49 (nine years ago) link
https://twitter.com/djperry1973/status/572838855344304129https://twitter.com/M3metic/status/572839173918474241https://twitter.com/ChangeTip/status/572839187537403905
loooooooooooooooooooooooooooooooooooooooooooooooool
― DJP, Tuesday, 3 March 2015 19:24 (nine years ago) link
I've also been added to a bitcoin Twitter list
man these guys are WAY more fun than the GamerGate crowd
― DJP, Tuesday, 3 March 2015 19:25 (nine years ago) link
― goole, Tuesday, 3 March 2015 19:33 (nine years ago) link
ftr this is the second time that dude has given me bitcoin for no reason; I didn't cash in the first time but now I'm tempted to just for lols
― DJP, Tuesday, 3 March 2015 19:34 (nine years ago) link
to do so would mean learning more about bitcoin, too high a bar for me tbh
― goole, Tuesday, 3 March 2015 19:35 (nine years ago) link
http://i.imgur.com/5kF9r13.png
― 龜, Monday, 30 March 2015 17:02 (nine years ago) link
lol guys cmon http://www.nytimes.com/2015/03/31/nyregion/silk-road-case-federal-agents-charges.html
― lag∞n, Monday, 30 March 2015 17:03 (nine years ago) link
Somebody is still out there drawing Snuffy Smith.
― pplains, Monday, 30 March 2015 17:07 (nine years ago) link
meet somebodyhttps://www.youtube.com/watch?v=3GoCo6eb0no
― Maybe in 100 years someone will say damn Dawn was dope. (forksclovetofu), Monday, 30 March 2015 20:19 (nine years ago) link
Left-handed cartoonists shouldn't weird me out like that, but they do.
― pplains, Monday, 30 March 2015 20:25 (nine years ago) link
disregarding how amazing every single thing about the Silk Road/DPR trial is now, I just wanna point out how incredible the name "Carl Mark Force IV"
― Abstinence Hawk (frogbs), Monday, 30 March 2015 20:57 (nine years ago) link
seriously though just when you think bitcoin couldn't possibly bring more laughs something like this happens, some Burn After Reading level shit happening here but as they say, truth really is stranger than fiction
― Abstinence Hawk (frogbs), Tuesday, 31 March 2015 12:49 (nine years ago) link
snuffy smith >>>>>> barney google
― am0n, Tuesday, 31 March 2015 15:43 (nine years ago) link
u wld think these federal agents wld know better than to try to steal the bitcoins considering they were working on a case involving ppl who thought they cld get away with crimes because of bitcoin but instead they were all i can take these bitcoins no problem
― lag∞n, Tuesday, 31 March 2015 15:47 (nine years ago) link
You know who really hates the Feds?
― pplains, Tuesday, 31 March 2015 15:51 (nine years ago) link
Snuffy Smith.
He was selling moonshine all over the world through Silk Road, faster than he could brew it.
― pplains, Tuesday, 31 March 2015 15:52 (nine years ago) link
http://www.pressherald.com/wp-content/uploads/2011/08/Sept+11-Comic+Tribute_Acco.jpg
― am0n, Tuesday, 31 March 2015 17:10 (nine years ago) link
yeah I mean I'm sure it's not uncommon for federal agents to palm a few stacks of cash in a drug raid but bitcoin is literally the least anonymous and most traceable currency on the planet so
― Abstinence Hawk (frogbs), Tuesday, 31 March 2015 17:41 (nine years ago) link
also lol that Ross's crime journal wound up taking these guys with him
http://pinkicecube.com/images/death_cat_snuffy_smith.jpg
― Maybe in 100 years someone will say damn Dawn was dope. (forksclovetofu), Wednesday, 1 April 2015 07:08 (nine years ago) link
That is a huge, yet rather simple, crossword puzzle.
― pplains, Wednesday, 1 April 2015 13:34 (nine years ago) link
oh my god this is amazing
http://bitcalc.beepboopbitcoin.com/
― frogbs, Monday, 20 April 2015 13:04 (nine years ago) link
oh lord that's gonna get me in trouble
― BIG HOOS aka the steendriver, Tuesday, 19 May 2015 20:27 (eight years ago) link
http://i.imgur.com/BowHK1o.png
― diamonddave85 (diamonddave85), Wednesday, 20 May 2015 15:19 (eight years ago) link
whoopsie: https://twitter.com/AP/status/604380093612445696
― DJP, Friday, 29 May 2015 20:17 (eight years ago) link
cant find anywhere in the law it says "dont create drug dealing website" smh fascists
― lag∞n, Friday, 29 May 2015 20:24 (eight years ago) link
http://tucker.liberty.me/the-deeply-tragic-jailing-of-ross-ulbricht/
― entry-level umami (mild bleu cheese vibes) (s.clover), Saturday, 30 May 2015 05:25 (eight years ago) link
don't even know what to quote from it, all gold
― entry-level umami (mild bleu cheese vibes) (s.clover), Saturday, 30 May 2015 05:26 (eight years ago) link
“I know you must take away my middle years, but please leave me my old age," Ulbricht, now 31, wrote.
So um, is a pedo who posts child porn on TOR called a torpedo?
― StanM, Saturday, 30 May 2015 06:39 (eight years ago) link
This brilliant and creative young man has been put away for performing a much-needed digital experiment. He opened an open-air market in the digital cloud and thereby demonstrated to the world that there is a better way than the state’s deeply destructive war on drugs.
guy literally tried to have like 5 online tormentors killed irl
― lag∞n, Saturday, 30 May 2015 14:08 (eight years ago) link
Judge Forrest spent nearly an hour tearing down all those arguments and a lot of it is gold
“The idea that it’s harm reducing is so very narrow,” she said. “It’s…about a privileged group, sitting in their own homes, with their high speed internet connections.”
btw I think it's worth mentioning that several dealers on SR would threaten to doxx anyone who ordered from them and didn't give them a 5/5 rating
― frogbs, Saturday, 30 May 2015 15:03 (eight years ago) link
Judge Forrest spent nearly an hour tearing down all those arguments and a lot of it is gold “The idea that it’s harm reducing is so very narrow,” she said. “It’s…about a privileged group, sitting in their own homes, with their high speed internet connections.”btw I think it's worth mentioning that several dealers on SR would threaten to doxx anyone who ordered from them and didn't give them a 5/5 rating― frogbs, Saturday, 30 May 2015 15:03 (5 days ago) Bookmark Flag Post Permalink
― frogbs, Saturday, 30 May 2015 15:03 (5 days ago) Bookmark Flag Post Permalink
Where can I find this online?
― écorché (S-), Thursday, 4 June 2015 03:50 (eight years ago) link
Well first you need this thing called tor...
― pplains, Thursday, 4 June 2015 04:12 (eight years ago) link
http://animalnewyork.com/2015/a-guy-got-mugged-for-his-bitcoin-in-crown-heights
― lag∞n, Friday, 5 June 2015 17:54 (eight years ago) link
strictly speaking, that is no laughing matter. strictly speaking
― Roberto Spiralli, Friday, 5 June 2015 18:01 (eight years ago) link
http://www.bloombergview.com/articles/2015-06-19/bitcoin-bucket-shop-kicks-bucket
― lag∞n, Friday, 19 June 2015 16:38 (eight years ago) link
guys I didn't take pictures but there was some storefront in Montreal labeled "bitcoin embassy" or something
― Upright Mammal (mh), Friday, 19 June 2015 16:49 (eight years ago) link
a lot ppl dont know u cn do a whole country on the blockchain
― lag∞n, Friday, 19 June 2015 16:49 (eight years ago) link
https://bitcoinembassy.ca/I walked by this thing every day I was there and I have no idea how it exists
theres a bitcoin store in manhattan too (or there was) think i posted a pic upthread
― lag∞n, Friday, 19 June 2015 16:51 (eight years ago) link
https://www.cryptocoinsnews.com/paypal-limits-voats-account-site-now-accepts-donations-bitcoin/
― goole, Wednesday, 24 June 2015 22:00 (eight years ago) link
Many in Voat's camp believe PayPal interrupted the site's PayPal account over the site's adherence to freedom of speech principles. Voat is like Reddit, nearly identical in appearance and functionality, with a focus on freedom of speech.
― goole, Wednesday, 24 June 2015 22:01 (eight years ago) link
higher fedora percentage compared to reddit then?
― écorché (S-), Thursday, 2 July 2015 05:52 (eight years ago) link
I walked by this in paris
http://www.bitcoinfr.com/wp-content/uploads/2014/05/b1.jpg
if we're documenting bitcoin's physical presence
― chinavision!, Thursday, 2 July 2015 13:26 (eight years ago) link
http://motherboard.vice.com/read/what-is-even-happening-with-bitcoin-right-now
― goole, Wednesday, 19 August 2015 20:33 (eight years ago) link
price has skyrocketed to nearly $500 in the last few days for apparently no good reason, I'm sure this is totally legit and not some kind of mega-ponzi or anything
― frogbs, Wednesday, 4 November 2015 21:06 (eight years ago) link
drone whistleblowers get their accounts frozen, bitcoin jerks hop on to say "shoulda used bitcoin!"
https://twitter.com/JesselynRadack/status/668253880271114240
― big WHOIS aka the nameserver (s.clover), Monday, 23 November 2015 03:28 (eight years ago) link
price is back in the low 300's again btw.
― on entre O.K. on sort K.O. (man alive), Monday, 23 November 2015 03:30 (eight years ago) link
http://www.bitwalking.com/
― am0n, Tuesday, 24 November 2015 20:59 (eight years ago) link
That is bizarre. Where's the money coming from?
― calstars, Tuesday, 24 November 2015 21:38 (eight years ago) link
Presumably since they will be literally monitoring your every step, they can flog all your data to advertisers.
― as verbose and purple as a Peter Ustinov made of plums (James Morrison), Wednesday, 25 November 2015 00:34 (eight years ago) link
hmm, constant monitoring of location in exchange for a few pennies a day perhaps?
― calstars, Wednesday, 25 November 2015 02:36 (eight years ago) link
Q: Am I paid for walking? A: No. You are generating money by walking on your own. We provide the platform to do that.Unlike other digital currencies that are mined by computers, BW$ are generated by human movement - walking.
― am0n, Wednesday, 25 November 2015 04:03 (eight years ago) link
Yeah it's the "generating money" bit that I don't get
― calstars, Wednesday, 25 November 2015 12:16 (eight years ago) link
this might be too crazy a theory, but maybe it harnesses the processing power of your phone for mining whenever you are walking around (and hence presumably using your phone less), and then shares some part of the mining spoils with you?
― on entre O.K. on sort K.O. (man alive), Wednesday, 25 November 2015 14:52 (eight years ago) link
there's a company called 21 inc. which is basically doing exactly that (without the walking bit) and it is probably one of the dumbest business ventures I can think of - essentially reduces your battery life to 90 minutes in exchange for something like $0.00001/day
― frogbs, Wednesday, 25 November 2015 14:58 (eight years ago) link
How much does the company make on one phone x one day?
― on entre O.K. on sort K.O. (man alive), Wednesday, 25 November 2015 16:20 (eight years ago) link
the mining of cybor currencies is always arbitrary using yr computer to play a digital lottery or using yr smartphone to track yr walking w/e same diff
― lag∞n, Wednesday, 25 November 2015 16:58 (eight years ago) link
Yeah it's the "generating money" bit that I don't get― calstars, Wednesday, 25 November 2015
instead of overheated gpus powering the mining computations its using human legs for power
― am0n, Wednesday, 25 November 2015 22:54 (eight years ago) link
so, d0xed?
― sktsh, Wednesday, 9 December 2015 14:16 (eight years ago) link
apparently. http://www.theguardian.com/technology/2015/dec/09/bitcoin-founder-craig-wrights-home-raided-by-australian-police
― Does that make you mutter, under your breath, “Damn”? (forksclovetofu), Wednesday, 9 December 2015 15:47 (eight years ago) link
http://gizmodo.com/this-australian-says-he-and-his-dead-friend-invented-bi-1746958692Several of the emails and documents sent to Gizmodo point to a close relationship between Wright and Kleiman, a U.S. Army veteran who lived in Palm Beach County, Florida. Kleiman was confined to a wheelchair after a motorcycle accident in 1995, and became a reclusive computer forensics obsessive thereafter. He died broke and in squalor, after suffering from infected bedsores. His body was found decomposing and surrounded by empty alcohol bottles and a loaded handgun. Bloody feces was tracked along the floor, and a bullet hole was found in his mattress, though no spent shell casings were found on the scene. But documents shared with Gizmodo suggest that Kleiman may have possessed a Bitcoin trust worth hundreds of millions of dollars, and seemed to be deeply involved with the currency and Wright’s plans. “Craig, I think you’re mad and this is risky,” Kleiman writes in one 2011 email to Wright. “But I believe in what we are trying to do.”
― μpright mammal (mh), Wednesday, 9 December 2015 15:55 (eight years ago) link
strange that the price spiked on this news, if the raid is for what I think it is (tons of unpaid taxes) one would think that massive stash may be starting to cash out
― frogbs, Wednesday, 9 December 2015 17:17 (eight years ago) link
been thinking about it and this is such a crazy story is my conclusion
― lag∞n, Wednesday, 9 December 2015 17:19 (eight years ago) link
to be fair this is really only like the 6th or 7th craziest thing that's happened in the world of bitcoin
― frogbs, Wednesday, 9 December 2015 17:21 (eight years ago) link
yeah i mean the world of bitcoin itself is an extremely crazy story but a couple reclusive lunatic geniuses with sophomoric opinions about government/economics create a gigantic fortune just from basically an idea, like its virtuoso computer programing but its also m/l a total failure for its stated use its estimated that ~25% of all bitcoins have been lost and a ton more stolen, but people are extremely attracted to the idea, almost everyone fucking w bitcoin is doing it for ideological reasons, the rest are in it to buy drugs online which is a bad idea btw, then there are a handful of thinkfluencers/investors w free associative dreams of the blockchain dancing in their heads (tho many of these ppl have moved on by now), and the creator(s) fortune or at least a good chuck of it is just sitting there untouched, of course if they did try to sell much of it it wld destroy the value of the rest, also they were anonymous and very secrative for years, just so hella crazy cyberpunk lol someone shd write a scifi book about it except all the main facts are true
― lag∞n, Wednesday, 9 December 2015 17:35 (eight years ago) link
some guy posted this morning on reddit that he would pay 90.5btc (about 38K USD) to anyone who played a very bad magic card (seance) at the next magic pro tour. hearing that the price is spiking makes me even more eager to snap that offer up
― LEGIT (Lamp), Wednesday, 9 December 2015 17:37 (eight years ago) link
Hoping there will be a mad mad mad mad world style celebrity-studded race to find the secret location of Kleinman's bitcoin keys.
― on entre O.K. on sort K.O. (man alive), Wednesday, 9 December 2015 17:37 (eight years ago) link
lmaoo xp
― lag∞n, Wednesday, 9 December 2015 17:38 (eight years ago) link
*Kleiman's
― on entre O.K. on sort K.O. (man alive), Wednesday, 9 December 2015 17:38 (eight years ago) link
that M:TG story is nuts. as an aside the last time I won a big tournament (~40 people) was with a Stanard deck centered on Seance. it was INSANE - probably the most accidentally powerful deck I've ever built, with lots of cool unintended synergy. sadly major pieces rotated shortly after!
― frogbs, Wednesday, 9 December 2015 17:58 (eight years ago) link
Lamp do you play magic professionally
― johnny crunch, Wednesday, 9 December 2015 18:00 (eight years ago) link
would be fun to rank all the craziest Bitcoin stories - I'd rank it something like
1. Silk Road2. CARL MARK FORCE IV (in conjunction with #1?)3. Mt. Gox4. Newsweek blowing their story by "discovering" a 60-something train enthusiast who was not in fact Satoshi Nakamoto, but instead just a dude looking for a free lunch
― frogbs, Wednesday, 9 December 2015 18:00 (eight years ago) link
― lag∞n, Wednesday, December 9, 2015 12:35 PM (13 minutes ago) Bookmark Flag Post Permalink
not sure i get this post aside from "lol at some people who talk about or use bitcoin"
the only thing i really know about bitcoin is from reading this http://dealbook.nytimes.com/2014/01/21/why-bitcoin-matters/ by a guy who on the one hand said "people will feel naked without google glass" but on the other hand invented the program we are all using to talk to each other on his website. the arguments in it are really cool and interesting though IMO
Bitcoin is the first practical solution to a longstanding problem in computer science called the Byzantine Generals Problem. To quote from the original paper defining the B.G.P.: “Imagine a group of generals of the Byzantine army camped with their troops around an enemy city. Communicating only by messenger, the generals must agree upon a common battle plan. However, one or more of them may be traitors who will try to confuse the others. The problem is to find an algorithm to ensure that the loyal generals will reach agreement.”More generally, the B.G.P. poses the question of how to establish trust between otherwise unrelated parties over an untrusted network like the Internet.The practical consequence of solving this problem is that Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.What kinds of digital property might be transferred in this way? Think about digital signatures, digital contracts, digital keys (to physical locks, or to online lockers), digital ownership of physical assets such as cars and houses, digital stocks and bonds … and digital money.All these are exchanged through a distributed network of trust that does not require or rely upon a central intermediary like a bank or broker. And all in a way where only the owner of an asset can send it, only the intended recipient can receive it, the asset can only exist in one place at a time, and everyone can validate transactions and ownership of all assets anytime they want.How does this work?Bitcoin is an Internet-wide distributed ledger. You buy into the ledger by purchasing one of a fixed number of slots, either with cash or by selling a product and service for Bitcoin. You sell out of the ledger by trading your Bitcoin to someone else who wants to buy into the ledger. Anyone in the world can buy into or sell out of the ledger any time they want – with no approval needed, and with no or very low fees. The Bitcoin “coins” themselves are simply slots in the ledger, analogous in some ways to seats on a stock exchange, except much more broadly applicable to real world transactions.The Bitcoin ledger is a new kind of payment system. Anyone in the world can pay anyone else in the world any amount of value of Bitcoin by simply transferring ownership of the corresponding slot in the ledger. Put value in, transfer it, the recipient gets value out, no authorization required, and in many cases, no fees.That last part is enormously important. Bitcoin is the first Internetwide payment system where transactions either happen with no fees or very low fees (down to fractions of pennies). Existing payment systems charge fees of about 2 to 3 percent – and that’s in the developed world. In lots of other places, there either are no modern payment systems or the rates are significantly higher. We’ll come back to that.Bitcoin is a digital bearer instrument. It is a way to exchange money or assets between parties with no pre-existing trust: A string of numbers is sent over email or text message in the simplest case. The sender doesn’t need to know or trust the receiver or vice versa. Related, there are no chargebacks – this is the part that is literally like cash – if you have the money or the asset, you can pay with it; if you don’t, you can’t. This is brand new. This has never existed in digital form before.Bitcoin is a digital currency, whose value is based directly on two things: use of the payment system today – volume and velocity of payments running through the ledger – and speculation on future use of the payment system. This is one part that is confusing people. It’s not as much that the Bitcoin currency has some arbitrary value and then people are trading with it; it’s more that people can trade with Bitcoin (anywhere, everywhere, with no fraud and no or very low fees) and as a result it has value.It is perhaps true right at this moment that the value of Bitcoin currency is based more on speculation than actual payment volume, but it is equally true that that speculation is establishing a sufficiently high price for the currency that payments have become practically possible. The Bitcoin currency had to be worth something before it could bear any amount of real-world payment volume. This is the classic “chicken and egg” problem with new technology: new technology is not worth much until it’s worth a lot. And so the fact that Bitcoin has risen in value in part because of speculation is making the reality of its usefulness arrive much faster than it would have otherwise.Critics of Bitcoin point to limited usage by ordinary consumers and merchants, but that same criticism was leveled against PCs and the Internet at the same stage. Every day, more and more consumers and merchants are buying, using and selling Bitcoin, all around the world. The overall numbers are still small, but they are growing quickly. And ease of use for all participants is rapidly increasing as Bitcoin tools and technologies are improved. Remember, it used to be technically challenging to even get on the Internet. Now it’s not.The criticism that merchants will not accept Bitcoin because of its volatility is also incorrect. Bitcoin can be used entirely as a payment system; merchants do not need to hold any Bitcoin currency or be exposed to Bitcoin volatility at any time. Any consumer or merchant can trade in and out of Bitcoin and other currencies any time they want.Why would any merchant – online or in the real world – want to accept Bitcoin as payment, given the currently small number of consumers who want to pay with it? My partner Chris Dixon recently gave this example:“Let’s say you sell electronics online. Profit margins in those businesses are usually under 5 percent, which means conventional 2.5 percent payment fees consume half the margin. That’s money that could be reinvested in the business, passed back to consumers or taxed by the government. Of all of those choices, handing 2.5 percent to banks to move bits around the Internet is the worst possible choice. Another challenge merchants have with payments is accepting international payments. If you are wondering why your favorite product or service isn’t available in your country, the answer is often payments.”
More generally, the B.G.P. poses the question of how to establish trust between otherwise unrelated parties over an untrusted network like the Internet.
The practical consequence of solving this problem is that Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.
What kinds of digital property might be transferred in this way? Think about digital signatures, digital contracts, digital keys (to physical locks, or to online lockers), digital ownership of physical assets such as cars and houses, digital stocks and bonds … and digital money.
All these are exchanged through a distributed network of trust that does not require or rely upon a central intermediary like a bank or broker. And all in a way where only the owner of an asset can send it, only the intended recipient can receive it, the asset can only exist in one place at a time, and everyone can validate transactions and ownership of all assets anytime they want.
How does this work?
Bitcoin is an Internet-wide distributed ledger. You buy into the ledger by purchasing one of a fixed number of slots, either with cash or by selling a product and service for Bitcoin. You sell out of the ledger by trading your Bitcoin to someone else who wants to buy into the ledger. Anyone in the world can buy into or sell out of the ledger any time they want – with no approval needed, and with no or very low fees. The Bitcoin “coins” themselves are simply slots in the ledger, analogous in some ways to seats on a stock exchange, except much more broadly applicable to real world transactions.
The Bitcoin ledger is a new kind of payment system. Anyone in the world can pay anyone else in the world any amount of value of Bitcoin by simply transferring ownership of the corresponding slot in the ledger. Put value in, transfer it, the recipient gets value out, no authorization required, and in many cases, no fees.
That last part is enormously important. Bitcoin is the first Internetwide payment system where transactions either happen with no fees or very low fees (down to fractions of pennies). Existing payment systems charge fees of about 2 to 3 percent – and that’s in the developed world. In lots of other places, there either are no modern payment systems or the rates are significantly higher. We’ll come back to that.
Bitcoin is a digital bearer instrument. It is a way to exchange money or assets between parties with no pre-existing trust: A string of numbers is sent over email or text message in the simplest case. The sender doesn’t need to know or trust the receiver or vice versa. Related, there are no chargebacks – this is the part that is literally like cash – if you have the money or the asset, you can pay with it; if you don’t, you can’t. This is brand new. This has never existed in digital form before.
Bitcoin is a digital currency, whose value is based directly on two things: use of the payment system today – volume and velocity of payments running through the ledger – and speculation on future use of the payment system. This is one part that is confusing people. It’s not as much that the Bitcoin currency has some arbitrary value and then people are trading with it; it’s more that people can trade with Bitcoin (anywhere, everywhere, with no fraud and no or very low fees) and as a result it has value.
It is perhaps true right at this moment that the value of Bitcoin currency is based more on speculation than actual payment volume, but it is equally true that that speculation is establishing a sufficiently high price for the currency that payments have become practically possible. The Bitcoin currency had to be worth something before it could bear any amount of real-world payment volume. This is the classic “chicken and egg” problem with new technology: new technology is not worth much until it’s worth a lot. And so the fact that Bitcoin has risen in value in part because of speculation is making the reality of its usefulness arrive much faster than it would have otherwise.
Critics of Bitcoin point to limited usage by ordinary consumers and merchants, but that same criticism was leveled against PCs and the Internet at the same stage. Every day, more and more consumers and merchants are buying, using and selling Bitcoin, all around the world. The overall numbers are still small, but they are growing quickly. And ease of use for all participants is rapidly increasing as Bitcoin tools and technologies are improved. Remember, it used to be technically challenging to even get on the Internet. Now it’s not.
The criticism that merchants will not accept Bitcoin because of its volatility is also incorrect. Bitcoin can be used entirely as a payment system; merchants do not need to hold any Bitcoin currency or be exposed to Bitcoin volatility at any time. Any consumer or merchant can trade in and out of Bitcoin and other currencies any time they want.
Why would any merchant – online or in the real world – want to accept Bitcoin as payment, given the currently small number of consumers who want to pay with it? My partner Chris Dixon recently gave this example:
“Let’s say you sell electronics online. Profit margins in those businesses are usually under 5 percent, which means conventional 2.5 percent payment fees consume half the margin. That’s money that could be reinvested in the business, passed back to consumers or taxed by the government. Of all of those choices, handing 2.5 percent to banks to move bits around the Internet is the worst possible choice. Another challenge merchants have with payments is accepting international payments. If you are wondering why your favorite product or service isn’t available in your country, the answer is often payments.”
― flopson, Wednesday, 9 December 2015 18:01 (eight years ago) link
I was about to say "Tim Berners-Lee?" but no it's good ol' egghead
― μpright mammal (mh), Wednesday, 9 December 2015 18:03 (eight years ago) link
the only thing i really know about bitcoin is from reading this http://dealbook.nytimes
― flopson, Wednesday, December 9, 2015 1:01 PM (3 minutes ago) Bookmark Flag Post Permalink
these two events cld be... connected
― lag∞n, Wednesday, 9 December 2015 18:07 (eight years ago) link
There has to be a very highly liquid market for bitcoin for this to work on a large scale though. If everyone just wants to use it as a payment system and no one as an actual currency, that's not gonna happen. Someone has to be left holding the bitcoin.
― on entre O.K. on sort K.O. (man alive), Wednesday, 9 December 2015 18:11 (eight years ago) link
I mean, let's be real, egghead and his fellow student made a _better_ web browser, on time paid by federal funds, and his financial success was based on licensing that work and partnering with old Silicon Valley dudes.
It's a big fucking deal but most of his insights these days are pondering the decisions of other people and lecturing on twitter about how he's right about business ideas
― μpright mammal (mh), Wednesday, 9 December 2015 18:11 (eight years ago) link
I still think it's possible that the blockchain technology (or similar) will prove useful. Bitcoin as a widely used currency though, no way.
― on entre O.K. on sort K.O. (man alive), Wednesday, 9 December 2015 18:13 (eight years ago) link
xp- but do u have an argument against it that isn't "ew people i don't like on twitter"? i can usually read your posts but i didn't get much from that one besides a vibe that it is uncool, and some of it got lost and stolen (i've heard this happens to money too), and someone owns a lot of it and if he sold it its value would go down. i demand quality blogging
― flopson, Wednesday, 9 December 2015 18:14 (eight years ago) link
I think bitcoin is very useful for ppl who need to do money laundering
― μpright mammal (mh), Wednesday, 9 December 2015 18:15 (eight years ago) link
let's not forget that egghead's company also gave millions of dollars to rap genius
― iatee, Wednesday, 9 December 2015 18:21 (eight years ago) link
to solve the byzantine generals annotation problem
― iatee, Wednesday, 9 December 2015 18:22 (eight years ago) link
lol no but i do play tournament magic regularly
i love bitcoins, the whole weirdo culture of it, white nerds who moved to east asian after 9.11, all their battles with the us gov't. kinda love unregulated spaces tbh even though they mostly end up dominated by poorly socialzed white bros
― LEGIT (Lamp), Wednesday, 9 December 2015 18:22 (eight years ago) link
i'm aware that marc and everything related to sillicon valley is uncool on twitter. i'm just curious to what yalls other arguments against bitcoins are cause i find that one boring and unconvincing. also i just looked up its volatility it's looking kinda stable now https://www.cbix.ca/volatility
― flopson, Wednesday, 9 December 2015 18:25 (eight years ago) link
xp yeah i totally love the mythos of it
but do u have an argument against it that isn't "ew people i don't like on twitter"?
― flopson, Wednesday, December 9, 2015 1:14 PM (1 minute ago) Bookmark Flag Post Permalink
that post is mostly about how the story is crazy and its underlying libertarian ideology with passing reference to more technical reasons how bitcion is bad tho it does contain a lot more substance on that level than u r giving it credit for, i have written a lot itt and the other thread abt why i think bitcoin is bad u cn read if u want, and i guarantee u if 25% of all government backed money was stolen it wld represent a global crisis and likely collapse of our monetary systems, on top of which bitcion has no insurance mechanisms in place to protect ppl from theft like if yr bank account gets hacked the bank will refund the money or if yr cc gets stolen u dont pay for that which allows ppl to have confidence in using our banking system, the fact that bitcion doesnt have these mechanisms in place is actually one of its big selling points particularly amongst the entrepreneurial segment who often make a cutting out the middle man argument for why bitcoin/blockchain can be more efficient, but of course the middlemen while charging a fee are also providing a service
― lag∞n, Wednesday, 9 December 2015 18:27 (eight years ago) link
ok i will read this thread i'm sorry
let's not forget that egghead's company also gave millions of dollars to rap genius― iatee, Wednesday, December 9, 2015 1:21 PM (3 minutes ago) Bookmark Flag Post Permalink
― iatee, Wednesday, December 9, 2015 1:21 PM (3 minutes ago) Bookmark Flag Post Permalink
as corny as the annotations are and as hateable as the founders are, genius is, kind of a good website?? *ducks under wall as brick flies over head* partic from a norm-internet perspective
― flopson, Wednesday, 9 December 2015 18:29 (eight years ago) link
― μpright mammal (mh), Wednesday, 9 December 2015 18:15 (14 minutes ago) Permalink
yeah or move money across borders, avoid taxes, etc. It's like diamonds you don't have to put in a suitcase.
― on entre O.K. on sort K.O. (man alive), Wednesday, 9 December 2015 18:31 (eight years ago) link
flopson I usually appreciate your ilx contrarianism but I think you may have crossed a line
― iatee, Wednesday, 9 December 2015 18:32 (eight years ago) link
wld argue its not one of the better money laundering services considering every transaction is by nature public, the authorities just need to match a name to an account and theyve got u
― lag∞n, Wednesday, 9 December 2015 18:34 (eight years ago) link
ya i googled bitcoin laundering and it looks like lots of people got arrested for that
― flopson, Wednesday, 9 December 2015 18:35 (eight years ago) link
theres already a lot of great money laundering systems in place folks!
― lag∞n, Wednesday, 9 December 2015 18:36 (eight years ago) link
Andressen has two main points, which I think are strung together for terms of convenience.
The first is the idea that a secure, trust-oriented system of exchange is valuable for its lack of reliance on a "trusted authority" is useful -- no fees because it's a system of trust exchange, which I can in no way argue against. Ignore the "low fees" part though:
It’s not as much that the Bitcoin currency has some arbitrary value and then people are trading with it; it’s more that people can trade with Bitcoin (anywhere, everywhere, with no fraud and no or very low fees) and as a result it has value.
The second point is that fees and the lack of an international currency or unit of value is a hindrance to transactions. This is also very true! Our current banking transfer system is very broken, and relies on a bunch of outdated technology with limited trust and delays that are meant to somewhat mitigate that, but you still end up with tons of issues of liability, faked checks, transaction fees for payment processing, international trade fees.
Banks and credit card companies are finally getting around to addressing that issue through single-use codes generate by cards with chips in them, new financial companies that alleviate bank transfers by being trust providers (I have a few friends who work in that space), and bringing the infrastructure of financial trade up to modern-day standards instead of using hand-written slips of paper with magic ink on them.
At some point you need a trusted way to secure your things that are worth money. If you believe bitcoin has monetary value, the guy with the USB drive on him at all times is basically the equivalent of carrying all your savings around in a duffel bag wherever you go, with the caveat that all that value could disappear if you die and no one else has access to your encrypted files.
So you end up needing a trusted second party to do escrow for you, or set up a bitcoin payment terminal, or hold on to your keys in some way to ensure continuity of savings if anything happens to you. And we're back to having payment processors and banks.
Bitcoin is worth something as a unit of trust so its monetary value is based on: - The idea that such a thing has an inherit worth due to scarcity and your ability to hold on to it - Continuing real-life transactions where it's proven you can trade bitcoin for money, goods, or services
A handful of people tipping each other for witty comments on reddit or buying a few pieces of computer hardware isn't going to keep that second case going. But there are people who don't like traditional financial institutions who want to avoid traditional payment infrastructures who are willing to gamble in high-value transactions. And it's not because they want to avoid fees, it's because they want to stay under the radar.
― μpright mammal (mh), Wednesday, 9 December 2015 18:37 (eight years ago) link
the tension btw trying to prove yr some kind of new-millenium übermensch and build the infrastructure necessary for something like a widely usable currency is so fascinating. i think these ppl are too obsessed with autonomy to build things other than self-serving consumer products and all the failings of bitcoin uphold that. liberation through technology is some facile garbage really
― LEGIT (Lamp), Wednesday, 9 December 2015 18:37 (eight years ago) link
― lag∞n, Wednesday, 9 December 2015 18:39 (eight years ago) link
technology has probably already done 90% of the liberating it will do for us (until it annihilates us) whether or not bitcoin is part of the remaining 10%
― flopson, Wednesday, 9 December 2015 18:39 (eight years ago) link
proving ownership of large value assets right now is largely down to reliance on government and private infrastructure having electronic records, or in many places, a paper trail in a courthouse somewhere showing the chain of ownership of a house or business. having an actual key showing history and provenance would be good, but again, the authority to make such transfers would not be something your average homebuyer is going to do.
bitcoin is kind of silly as a day-to-day instrument of transaction because of its inherent scarcity, ensuring a constant rate of inflation even if it's used by the same people continuously
tl;dr if you thought the gold standard was bad, bitcoin is backed on the ability for it to be used for illegal commerce
― μpright mammal (mh), Wednesday, 9 December 2015 18:45 (eight years ago) link
one thing that interesting is bitcion is an open standard that the creators have actually managed to get directly rich off of
― lag∞n, Wednesday, 9 December 2015 18:46 (eight years ago) link
"the first practical solution to a longstanding problem in computer science called the Byzantine Generals Problem"
so much wrong with this sentence, from a technical standpoint.
― big WHOIS aka the nameserver (s.clover), Wednesday, 9 December 2015 18:46 (eight years ago) link
explain?
― flopson, Wednesday, 9 December 2015 18:50 (eight years ago) link
yeah but that one guy died w/ poop and bulletholes everywhere, seemingly in poverty, and the other one just got raided so who knows. it will be interesting to learn why they didn't actually seem to take/use the money.
― iatee, Wednesday, 9 December 2015 18:51 (eight years ago) link
brings us back to my original point: what a crazy story!
― lag∞n, Wednesday, 9 December 2015 18:53 (eight years ago) link
the one guy did use some of the money to found bitbusinesses fwiw
― lag∞n, Wednesday, 9 December 2015 18:54 (eight years ago) link
this is also why the idea of a "partial bitcoin" is completely bogus to me. you either have a bitcoin, or you don't. if you give someone a "partial bitcoin" you are relying on a second party, who actually holds a place in the blockchain, to reallocate value between you and someone else. there is absolutely nothing to stop them from saying "you never had anything" to you! you're putting your complete trust in that authority. and some of those authorities have had names like "magic the gathering online exchange"
the creators _may_ have gotten rich or will get rich, but again, it's predicated on an ability to trade bitcoin for cash or other things of value. remember: - it's a "currency" based on scarcity - your ownership is completely predicated on keeping some pieces of data safe
if they cashed out to someone else who is going to sit on it, then it probably wouldn't be a big hit to the system. if they cashed out by selling to a large number of people, then you'd have a huge deflation wave as there's no stabilizing force. i might be botching my economics there, but the ability to cash out is only possible if you can get someone to pay you the market rate.
― μpright mammal (mh), Wednesday, 9 December 2015 18:55 (eight years ago) link
fwiw i dont think bitcoins are bad, just a dead end.
technology has probably already done 90% of the liberating it will do for us
i mean... this is making me think abt zuckerbro proudly telling everyone he is donating his fortune to making humans better or w/e. the myth of man as autonomous actor in history &c &c. if anyone is writing abt this stuff srsly i wld like to read it - i feel like most takes on techbro culture are routinely dismissive or reductive or overly focused on technical stuff rather than like a big picture take
― LEGIT (Lamp), Wednesday, 9 December 2015 18:57 (eight years ago) link
the two main cases for a large-scale cashout would be someone with a ton of cash who wants to set up a bitcoin bank (Marc Andreessen this is your big chance buddy!), or someone who wants to transfer a loooot of money under the radar, regularly, who also wants to keep the value afloat (do you like drugs?)
― μpright mammal (mh), Wednesday, 9 December 2015 18:58 (eight years ago) link
one wld think they cld cash out single digits millions a year w/o driving the price down too far
― lag∞n, Wednesday, 9 December 2015 18:58 (eight years ago) link
except that everyone is watching that one wallet and there might be some bizarre bitculture panic lol
― lag∞n, Wednesday, 9 December 2015 19:00 (eight years ago) link
idk man I work in a field where scientific work that formerly took a ton of land and a bunch of seasonal workers (and was 60% effective) now takes a 40'x40' plot and a handful of employees and is over 90% effective, lots of gains yet to be made
― μpright mammal (mh), Wednesday, 9 December 2015 19:00 (eight years ago) link
yeah i personally think technology prob still has a ways to go
― lag∞n, Wednesday, 9 December 2015 19:02 (eight years ago) link
now if we cld just get to work on distributing the liberation a little a little more equitably
those seasonal workers need a universal basic income imo
― μpright mammal (mh), Wednesday, 9 December 2015 19:04 (eight years ago) link
― lag∞n, Wednesday, 9 December 2015 19:04 (eight years ago) link
My favorite Krugman bitcoin takedown
http://krugman.blogs.nytimes.com/2013/04/12/adam-smith-hates-bitcoin/
― El Tomboto, Wednesday, 9 December 2015 19:06 (eight years ago) link
silicon valley dudes and bitcoin, it's basically
sv: "there needs to be a trust-based ledger away from governments!"
"oh, who is going to handle being intermediaries and make handle this ledger?"
sv: "my libertarian-minded business is very trustworthy"
― μpright mammal (mh), Wednesday, 9 December 2015 19:08 (eight years ago) link
I know this is going back a lot of posts but this is so incredibly untrue right now, there are HUGE amounts of fraud and there are tons of fees
biggest/simplest argument vs BTC becoming a viable anything - it does not scale. currently the protocol handles about 3 transactions a second and there's no way to increase that without forking the chain and if you look at the recent block size debacle there's no way to get 51% of miners to agree on anything.
― frogbs, Wednesday, 9 December 2015 21:20 (eight years ago) link
the krug is anti bitcoin?! i have a big ditch to dig myself out of haha
technology has probably already done 90% of the liberating it will do for usi mean... this is making me think abt zuckerbro proudly telling everyone he is donating his fortune to making humans better or w/e. the myth of man as autonomous actor in history &c &c. if anyone is writing abt this stuff srsly i wld like to read it - i feel like most takes on techbro culture are routinely dismissive or reductive or overly focused on technical stuff rather than like a big picture take― LEGIT (Lamp), Wednesday, December 9, 2015 1:57 PM (2 hours ago) Bookmark Flag Post Permalink
― LEGIT (Lamp), Wednesday, December 9, 2015 1:57 PM (2 hours ago) Bookmark Flag Post Permalink
i just meant in the obvious way, like a shovel "liberates" you from toiling in the dirt with your bare hands, a tractor liberates you from using a damn shovel, someone with tuberculosis who takes penicylin is "liberated" from dying, etc
― flopson, Wednesday, 9 December 2015 21:51 (eight years ago) link
technology has sparse revolutions and in between the revolutions has diminishing returns. the next revolution is either this crispy medical shit or we invent robots that enslave us either way i'm down
― flopson, Wednesday, 9 December 2015 21:54 (eight years ago) link
― frogbs, Wednesday, December 9, 2015 4:20 PM (1 hour ago) Bookmark Flag Post Permalink
lol holy shit, had no idea about stuff at this level of detail but that makes it 10x more hilarious that anyone thinks this can become a currency.
― on entre O.K. on sort K.O. (man alive), Wednesday, 9 December 2015 22:30 (eight years ago) link
this article is pretty goodhttp://brokenlibrarian.org/bitcoin/
8) So could Bitcoin ever be a real currency? No, for one simple reason. Bitcoin does not scale. The network is very specifically designed to process a very limited number of transactions in each block, and each block by definition takes about ten minutes to process, regardless of how powerful the Bitcoin verification network is. The more popular that Bitcoin becomes, the slower it will be for every single transaction to get processed. The claim that Bitcoin is "instant" is demonstrably false. (It is also not "free", because while adding a transaction fee to your Bitcoin transaction is technically optional, without a fee it is unlikely that your transaction will be verified any time soon. Fees are a de facto requirement to get your transactions processed.) More importantly, the blockchain size is increasing rapidly. The blockchain file is currently many gigabytes in size, and the entire chain must be downloaded in order to mine or verify your own transactions. (Or to track somebody else's transactions: see the part about anonymity above.) You can use a third-party service to store and transfer your Bitcoins, but these services have historically tended to get hacked or just suddenly vanish, taking all your internet funny-money with it. If Bitcoin actually became popular as a currency and not just as a speculative commodity, the blockchain would swell to an absurd and unmanageable size. Visa (for example) maintains multi-terabyte (at least) databases of financial transactions; now imagine if everybody who wanted to safely use a Visa card had to have a copy of all that data (including lists of everybody else's transactions). 9) Wait, does that mean that every advantage that people claim Bitcoin has is not actually true? Yes. It's not anonymous, it's not free, it's not instant, and it's not convenient. It's extremely difficult to make money on it, mining is useless, and it's literally impossible that it will ever go into widespread use. Unless you have an ideological stake in the concept of Bitcoin (or want to buy drugs and/or child porn), there is literally no reason to get involved in it. There's actually one thing that Bitcoin supporters claim about Bitcoin which is true: it has no chargebacks. Bitcoin transactions are irreversible. Whether this is actually an advantage or not probably depends on whether you've ever been ripped off before. If you haven't, then getting involved in Bitcoin is probably a good way to fix that.
― frogbs, Wednesday, 9 December 2015 22:36 (eight years ago) link
― big WHOIS aka the nameserver (s.clover), Wednesday, December 9, 2015 1:46 PM Bookmark Flag Post Permalink
― flopson, Wednesday, December 9, 2015 1:50 PM Bookmark Flag Post Permalink
basically bg is a big famous class of problems of a certain sort in computer science that have to do with distributed systems, and lots of solutions for different problems have been developed over lots and lots of years, many of which are "practical" and used in important aspects of work, like managing distributed clusters. a "distributed ledger" is only really semi-related to the classic family of bg problems, and bitcoin was one of the first to tackle that -- but it was fundamentally about recognizing a new _class_ of problem rather than a new solution to a longstanding known problem. (and the utility of a distributed ledger is what is sort of growing in popularity more broadly -- i think that those concepts will become more widespread and common even as bitcoin itself ends up sort of fading away).
― big WHOIS aka the nameserver (s.clover), Wednesday, 9 December 2015 22:43 (eight years ago) link
This all changed as Bitcoin was discovered by three types of people. First, there were the internet libertarian types who liked the idea of a currency that was not controlled by a government. For them, Bitcoin represented an ideology. Second, there were people who wanted to use Bitcoin as a semi-anonymous international currency for illegal transactions, such as drugs, weapons, or illicit pornography, as well as a possible method for laundering money. For them, Bitcoin represented safety from the law. Third, there were people who viewed Bitcoin as a method to get rich by getting in on the ground floor of a new kind of money. These people saw Bitcoin as an investment.
--
almost everyone fucking w bitcoin is doing it for ideological reasons, the rest are in it to buy drugs online which is a bad idea btw, then there are a handful of thinkfluencers/investors w free associative dreams of the blockchain dancing in their heads
:]
― lag∞n, Wednesday, 9 December 2015 22:54 (eight years ago) link
buying a few drugs online seems like a bad use case, maybe buying a few hundred kilos of cocaine it is more practical
― μpright mammal (mh), Wednesday, 9 December 2015 23:13 (eight years ago) link
drugs deals are all about relationships dont go online
― lag∞n, Wednesday, 9 December 2015 23:16 (eight years ago) link
can we talk more about the aussiee
― 龜, Wednesday, 9 December 2015 23:53 (eight years ago) link
― lag∞n, Thursday, 10 December 2015 00:03 (eight years ago) link
oi m8
― 龜, Thursday, 10 December 2015 00:06 (eight years ago) link
the mixture of bragging / trying to hide his identity reminds me of walt in mid-series breaking bad
http://i.kinja-img.com/gawker-media/image/upload/s--ZZP8RDuV--/gmoyhqntwlvt1uzbu6fp.png
― iatee, Thursday, 10 December 2015 00:14 (eight years ago) link
― lag∞n, Thursday, 10 December 2015 00:17 (eight years ago) link
http://i.imgur.com/MkB4Jim.gif
― iatee, Thursday, 10 December 2015 00:28 (eight years ago) link
the guy gets outed as a bitcoin founder then hours later the police raid his home and say its unrelated
― lag∞n, Thursday, 10 December 2015 00:36 (eight years ago) link
he's kind of a candidate for People who have obviously written their own Wikipedia entry, S/D C/D
― 龜, Thursday, 10 December 2015 01:06 (eight years ago) link
imo the best way to think about a bitcoin is that it's equivalent to like having a level 80 character in diablo ii (pre expansion pack) or a complete unique set or real stones of jordan, that you could only get through hours and hours of grinding n you could sell on eBay for money but only to the extent there were other diablo ii players who wanted them
― 龜, Thursday, 10 December 2015 01:07 (eight years ago) link
a bitcoin is basically like a whirlwind barbarian and can get nerfed at any moment
I am glad that sterling post about the BG problem so I don't have to. But yeah egghead's line about that produced gas face
― El Tomboto, Thursday, 10 December 2015 01:22 (eight years ago) link
GG, MMO analogues
― El Tomboto, Thursday, 10 December 2015 01:23 (eight years ago) link
the rest are in it to buy drugs online which is a bad idea btw
do you know anybody who's gotten busted for it? I don't fuck around but I know people who do and they're v evangelical about Silk Road etc, certain they can't be traced
― tremendous crime wave and killing wave (Joan Crawford Loves Chachi), Thursday, 10 December 2015 01:43 (eight years ago) link
i dont personally but theres plenty of documented cases of that happening, and if it does youre facing more charges than you wld if it happened in person because of shipping it, also my understanding ppl get ripped off w fair regularity online
― lag∞n, Thursday, 10 December 2015 01:48 (eight years ago) link
i mean if youre just buying recreational amounts yr exposure is prob p minimal but still
― lag∞n, Thursday, 10 December 2015 01:50 (eight years ago) link
oh yeah don't get me wrong I think it's madness, like waaaay back in the 80s I sent acid through the mail to a girlfriend in NY and years later I was like "do you even know how bad they can ding you for anything that goes down through the mail," but the feeling I get is yeah the risk isn't much worse than buying on the street
― tremendous crime wave and killing wave (Joan Crawford Loves Chachi), Thursday, 10 December 2015 02:05 (eight years ago) link
can def understand the appeal of just getting whatever drugs u want sent to u
― lag∞n, Thursday, 10 December 2015 02:07 (eight years ago) link
i prob shdnt think abt that too much
― tremendous crime wave and killing wave (Joan Crawford Loves Chachi), Thursday, 10 December 2015 02:27 (eight years ago) link
medco express scripts is sweet, not sure what u guys are worried abt
― mookieproof, Thursday, 10 December 2015 02:29 (eight years ago) link
amazon prime... for drugs
― μpright mammal (mh), Thursday, 10 December 2015 14:51 (eight years ago) link
wb for more on this fast moving story
http://motherboard.vice.com/read/satoshis-pgp-keys-are-probably-backdated-and-point-to-a-hoax
― sktsh, Thursday, 10 December 2015 14:54 (eight years ago) link
http://i.imgur.com/nRB305Y.png
― lag∞n, Thursday, 10 December 2015 15:44 (eight years ago) link
so these guys killed satoshi nakamoto, right
or they have no idea who he is and were trying to set up a case for claiming ownership of his bitcoins by pretending they were him all along
― μpright mammal (mh), Thursday, 10 December 2015 15:56 (eight years ago) link
the key proabbly belongs to the other guy who died
― 龜, Thursday, 10 December 2015 15:59 (eight years ago) link
actually... it belongs to me
I am glad that sterling post about the BG problem so I don't have to. But yeah egghead's line about that produced gas face― El Tomboto, Wednesday, December 9, 2015 8:22 PM (Yesterday) Bookmark Flag Post Permalink
― El Tomboto, Wednesday, December 9, 2015 8:22 PM (Yesterday) Bookmark Flag Post Permalink
i don't think i understood sterling's post. he said bitcoin is only semi-related (to BG) and not even a solution to this semi-relatd problem "but ... fundamentally about recognizing a new _class_ of problem rather than a new solution to a longstanding known problem." that doesn't make sense to me. not knowing anything about BG, it was obvious to me from the context that MA was talking about a sub-class of problems, even though literally it reads that way. but i don't get how it's not even a solution to a subproblem. does it not actually do what it is purported to do?
almost everyone fucking w bitcoin is doing it for ideological reasons― lag∞n, Wednesday, December 9, 2015 5:54 PM (Yesterday) Bookmark Flag Post Permalink
― lag∞n, Wednesday, December 9, 2015 5:54 PM (Yesterday) Bookmark Flag Post Permalink
is contrarianism an ideology? ;-)
― flopson, Thursday, 10 December 2015 15:59 (eight years ago) link
When you turn over the stone you will find an inscription telling you that the Original Key is...love.
― on entre O.K. on sort K.O. (man alive), Thursday, 10 December 2015 16:18 (eight years ago) link
― lag∞n, Thursday, 10 December 2015 16:19 (eight years ago) link
http://ftalphaville.ft.com/2015/12/11/2147499/doubts-grow-over-craig-s-wrights-connection-to-satoshi-nakamoto/
might not be him after all, which is too bad cause it made a good narrative
― iatee, Friday, 11 December 2015 20:59 (eight years ago) link
but i don't get how it's not even a solution to a subproblem. does it not actually do what it is purported to do?
― flopson, Thursday, December 10, 2015 10:59 AM Bookmark Flag Post Permalink
its a solution to a "distributed ledger" -- which is related to BG, but only in the sense that every system that involves more than one party and some degree of trust is related to BG.
it does provide a relatively trustworthy way to provide an account of transactions that are "witnessed" by the "public" (where here the "public" is "machines running bitcoin mining operations").
So instead of "Bitcoin is the first practical solution to a longstanding problem in computer science called the Byzantine Generals Problem" imagine somebody wrote "Uber is the first practical solution to a longstanding problem called getting from one place to another" -- its not a great analogy, but maybe it gives a sense.
― big WHOIS aka the nameserver (s.clover), Friday, 11 December 2015 22:27 (eight years ago) link
good roundup http://www.newyorker.com/business/currency/bizarre-saga-craig-wright-latest-inventor-bitcoin
― lag∞n, Saturday, 12 December 2015 05:40 (eight years ago) link
http://blog.acton.org/wp-content/uploads/2014/03/bitcoin-dead.jpg
― am0n, Sunday, 13 December 2015 03:21 (eight years ago) link
http://i.imgur.com/OjOi8I8.jpg
― 龜, Thursday, 28 January 2016 12:10 (eight years ago) link
who makes those jeans
― service desk hardman (El Tomboto), Thursday, 28 January 2016 13:02 (eight years ago) link
Casual Male XL?
― its subtle brume (DJP), Thursday, 28 January 2016 16:05 (eight years ago) link
can those arms even hold that sword upright?
― on entre O.K. on sort K.O. (man alive), Thursday, 28 January 2016 16:06 (eight years ago) link
it's Inner Strength that matters duh
― The Male Gaz Coombes (Neil S), Thursday, 28 January 2016 16:08 (eight years ago) link
http://i.imgur.com/3FnkOJW.png
― lag∞n, Friday, 29 January 2016 15:10 (eight years ago) link
because you're an idiot, best known for playing idiots on TV
― frogbs, Friday, 29 January 2016 15:18 (eight years ago) link
surely the right move is to use the butterfly effect power to make his past self buy bitcoin imo
― μpright mammal (mh), Friday, 29 January 2016 15:24 (eight years ago) link
http://www.theatlantic.com/technology/archive/2016/02/hackers-are-holding-a-hospitals-patient-data-ransom/463008/
A hospital in Los Angeles has been operating without access to email or electronic health records for more than a week, after hackers took over its computer systems and demanded millions of dollars in ransom to return it.The hackers that broke into the Hollywood Presbyterian Medical Center’s servers are asking for $3.6 million in Bitcoin, a local Fox News affiliate reported. Hospital staff are working with investigators from the Los Angeles Police Department and the FBI to find the intruders’ identities.
The hackers that broke into the Hollywood Presbyterian Medical Center’s servers are asking for $3.6 million in Bitcoin, a local Fox News affiliate reported. Hospital staff are working with investigators from the Los Angeles Police Department and the FBI to find the intruders’ identities.
― 龜, Wednesday, 17 February 2016 17:12 (eight years ago) link
bitcoin is fostering so many great innovations
― lag∞n, Wednesday, 17 February 2016 17:15 (eight years ago) link
it's already disrupting a hospital
― its subtle brume (DJP), Wednesday, 17 February 2016 17:22 (eight years ago) link
http://wp.production.patheos.com/blogs/slowchurch/files/2014/10/Beetcoin.jpg
― am0n, Wednesday, 17 February 2016 17:54 (eight years ago) link
This is why you have to hand over all your phone passwords to the government immediately
― Sith Dog (El Tomboto), Wednesday, 17 February 2016 18:13 (eight years ago) link
It is physically impossible to investigate and prosecute an extortion case without breaking into everybody's phone. It has never been done before. Look it up!
― Sith Dog (El Tomboto), Wednesday, 17 February 2016 18:15 (eight years ago) link
as a law abiding citizen i want the government to have my phone
― lag∞n, Wednesday, 17 February 2016 18:30 (eight years ago) link
going to have tons of pictures of my genitals with a bitcoin logo in the corner and tell them there is steganographic data hidden in the images
after scrutinizing my dick they will realize there is no data
― μpright mammal (mh), Wednesday, 17 February 2016 18:32 (eight years ago) link
your genitals... have corners?
― its subtle brume (DJP), Wednesday, 17 February 2016 18:50 (eight years ago) link
https://www.youtube.com/watch?v=_Mwqgkk6DBk
― crüt, Wednesday, 17 February 2016 18:52 (eight years ago) link
corner of the images
I deny the corner aspect of my junk, but you will have to hack my phone to be sure
― μpright mammal (mh), Wednesday, 17 February 2016 18:55 (eight years ago) link
they paid teh bitcoinz
http://www.latimes.com/local/lanow/la-me-ln-hollywood-hospital-bitcoin-20160217-story.html
― • (sleepingbag), Friday, 19 February 2016 02:52 (eight years ago) link
pretty reasonable price tbf
― lag∞n, Friday, 19 February 2016 02:59 (eight years ago) link
The hacker demanded 40 bitcoin, the equivalent of about $17,000, he said.
where'd the $3m figure come from??
― goole, Friday, 19 February 2016 17:29 (eight years ago) link
hes was prob like give me 3m and they were all we can do 17k and he was all ok
― lag∞n, Friday, 19 February 2016 17:32 (eight years ago) link
http://www.theverge.com/2016/3/2/11146584/bitcoin-core-classic-debate-transaction-limit-crisis
― anonanon, Friday, 4 March 2016 17:10 (eight years ago) link
oops
― lag∞n, Friday, 4 March 2016 17:11 (eight years ago) link
and its...not affecting the price at all?
― frogbs, Friday, 4 March 2016 17:19 (eight years ago) link
http://i.imgur.com/tlH97jm.jpg
― ﷽ (diamonddave85), Monday, 7 March 2016 21:17 (eight years ago) link
The blockchain: here be dragons?
― Chewshabadoo, Tuesday, 8 March 2016 15:27 (eight years ago) link
Just saw Dope. Fun flick, has bitcoins in it.
― human life won't become a cat (man alive), Saturday, 19 March 2016 02:18 (eight years ago) link
Don't really know what thread to talk about it in bc too hard to search the title
― human life won't become a cat (man alive), Saturday, 19 March 2016 02:19 (eight years ago) link
https://bitcoinmagazine.com/articles/i-m-a-former-green-beret-here-s-how-i-would-bring-down-bitcoin-1456165726
― 龜, Friday, 6 May 2016 16:53 (seven years ago) link
excellent url just impeccable
― lag∞n, Friday, 6 May 2016 16:55 (seven years ago) link
best part is
Take down Blockstream and you take down over half the Core development team. Palantir is one of the mapping tools you can use.
as if Palantir is just some shareware browser plugin you can get at Download.com
― pandit pran nathalie (sanskrit), Saturday, 7 May 2016 01:17 (seven years ago) link
actually, i take it back, that is super scary some low level government shitheel would think of Palantir the same way a law school student would respond to their free access to Lexis/Nexis.
― pandit pran nathalie (sanskrit), Saturday, 7 May 2016 01:21 (seven years ago) link
eh he prob just read abt it online
― lag∞n, Saturday, 7 May 2016 02:31 (seven years ago) link
lmfao http://www.wired.com/2016/06/50-million-hack-just-showed-dao-human
― lag∞n, Saturday, 18 June 2016 15:53 (seven years ago) link
the blockchain is the future of nerds stealing money from nerds
― lag∞n, Saturday, 18 June 2016 15:54 (seven years ago) link
that bitcoin embassy storefront thing is mysteriously still open in montreal a year after I first spotted it. they have to be helping ppl move money for organized crime, right?
― μpright mammal (mh), Saturday, 18 June 2016 16:51 (seven years ago) link
my local bodega has a bitcoin ATM. i asked the owner and he said people use it to send money back to their relatives in other countries.
― R.I.P. Haram-bae, the good posts goy (s.clover), Saturday, 18 June 2016 18:10 (seven years ago) link
also omg read this in the comic book guy voice
The usual plague of so-called “experts” have come out of the woodwork following today’s attack on TheDAO, to tweet, blog and bloviate their hindsight-informed opinions about TheDAO’s “failure” and the implications for the future of smart contracts (despite the fact that most of them barely can barely string together a coherent description of what a smart contract is, let alone write one).
https://jackgavigan.com/2016/06/17/why-i-think-thedao-is-a-success/
― R.I.P. Haram-bae, the good posts goy (s.clover), Saturday, 18 June 2016 18:11 (seven years ago) link
http://i.imgur.com/V1VTTWV.jpg
― lag∞n, Saturday, 18 June 2016 20:48 (seven years ago) link
I could write a contract that would make your dick shrivel
― ejemplo (crüt), Saturday, 18 June 2016 21:46 (seven years ago) link
a bitcoin-style currency called Ether
was vaporcoin already taken
― am0n, Saturday, 18 June 2016 23:17 (seven years ago) link
wow ether and dao great names nerdloafs
― riverine (map), Saturday, 18 June 2016 23:18 (seven years ago) link
ethan and dayo
― nakhchivan, Saturday, 18 June 2016 23:22 (seven years ago) link
the dao got.. wait for it... are you ready... ethered.
― R.I.P. Haram-bae, the good posts goy (s.clover), Saturday, 18 June 2016 23:30 (seven years ago) link
ayy
― lag∞n, Saturday, 18 June 2016 23:31 (seven years ago) link
http://www.nytimes.com/2016/08/04/business/dealbook/bitcoin-bitfinex-hacked.html?_r=0
loool
― 龜, Thursday, 4 August 2016 14:49 (seven years ago) link
guuys guess whos the proud owner of .62 bitcoins
http://i.imgur.com/2WL9dor.png
― lag∞n, Tuesday, 11 October 2016 13:35 (seven years ago) link
im a bit coin thought leader now and think it will change the world
― lag∞n, Tuesday, 11 October 2016 13:36 (seven years ago) link
.63 Bitcoins to be exact
― Neil S, Tuesday, 11 October 2016 13:43 (seven years ago) link
important clarification
huh wow r u literally a bitcoin hundredaire didnt think so
― lag∞n, Tuesday, 11 October 2016 13:45 (seven years ago) link
in that case I respectfully defer to your wisdom
― Neil S, Tuesday, 11 October 2016 13:49 (seven years ago) link
thank u
― lag∞n, Tuesday, 11 October 2016 13:52 (seven years ago) link
no problem, now transfer me some bitcoin please
― Neil S, Tuesday, 11 October 2016 13:54 (seven years ago) link
ok its only fair
― lag∞n, Tuesday, 11 October 2016 13:58 (seven years ago) link
sharing the wealth, ILX is so wonderful
― Neil S, Tuesday, 11 October 2016 14:00 (seven years ago) link
ilx+btc will change the world
― lag∞n, Tuesday, 11 October 2016 14:03 (seven years ago) link
http://qz.com/801640/darpa-blockchain-a-blockchain-from-guardtime-is-being-verified-by-galois-under-a-government-contract/
― lag∞n, Tuesday, 11 October 2016 14:10 (seven years ago) link
*puts out tip bucket*
― dr. mercurio arboria (mh 😏), Tuesday, 11 October 2016 14:18 (seven years ago) link
Lagoon, how did you obtain it?
― calstars, Tuesday, 11 October 2016 14:23 (seven years ago) link
transferring money between poker sites tbh
― lag∞n, Tuesday, 11 October 2016 14:28 (seven years ago) link
i was just gonna do it all at once but the second site is down for scheduled maintenance so im a proud bitcoin holder for a couple hours lol
― lag∞n, Tuesday, 11 October 2016 14:30 (seven years ago) link
What's the most reputable place to get some?
― calstars, Tuesday, 11 October 2016 16:08 (seven years ago) link
idk i didnt deposit to the poker site in bitcoins i just withdrew so i got them from the poker site
― lag∞n, Tuesday, 11 October 2016 16:10 (seven years ago) link
maybe i shd use some to buy drugs from the dark net, so many doors r open to me now
― lag∞n, Tuesday, 11 October 2016 16:11 (seven years ago) link
hah which site were you on?
I admit I used to mock the concept of bitcoin mercilessly, but the ability to actually do a normal withdrawal from a poker site is pretty nice
― frogbs, Tuesday, 11 October 2016 16:12 (seven years ago) link
bovada -> americas card room
― lag∞n, Tuesday, 11 October 2016 16:15 (seven years ago) link
ahh I just cashed out a check and transferred to Ignition. dunno how that's gonna go.
how's Americas Cardroom??
― frogbs, Tuesday, 11 October 2016 16:17 (seven years ago) link
havent played yet
― lag∞n, Tuesday, 11 October 2016 16:19 (seven years ago) link
ignition is the bovada replacement right
― lag∞n, Tuesday, 11 October 2016 16:21 (seven years ago) link
yeah. same exact thing, the software's bad in the exact same ways. games are still good but I'm thinking about jumping ship since I don't know how long they're sticking around.
― frogbs, Tuesday, 11 October 2016 16:23 (seven years ago) link
Some serious money laundering happening in the transfer of FX to bitcoin there
― calstars, Tuesday, 11 October 2016 17:53 (seven years ago) link
I've made $10 on leftover bitcoin from a pre-election purchase. Probably the first and last good thing that will happen to me related to Trump.
― Kiarostami bag (milo z), Tuesday, 27 December 2016 05:02 (seven years ago) link
http://i.imgur.com/iEUS20j.png
― just another (diamonddave85), Tuesday, 17 January 2017 18:23 (seven years ago) link
How long would it take an iPhone to make $1?
― calstars, Tuesday, 17 January 2017 20:08 (seven years ago) link
when bitcoin started, maybe that could have happened
these days, somewhere in the hundred year range
― mh 😏, Tuesday, 17 January 2017 20:14 (seven years ago) link
https://www.quora.com/How-much-CPU-time-is-needed-to-mine-1-bitcoin
― mh 😏, Tuesday, 17 January 2017 20:15 (seven years ago) link
No shitsigh Why do I do even bother asking
― calstars, Tuesday, 17 January 2017 23:49 (seven years ago) link
An example of a punk approach to teaching can be found at Middlesex University, where Marcus O’Dair, senior lecturer in popular music, and Zuleika Beavan, senior lecturer in arts management, have challenged their students to raise money for a music release using the digital currency Bitcoin. The DIY aspect of the project, combined with the absence of established rules regarding Bitcoin, led them to frame it as punk. “There seems to be a lot of potential [for] disruption [with a system like Bitcoin], so it feels like an exciting space to be in,” Mr O’Dair said.
https://www.timeshighereducation.com/news/shot-by-both-sides-what-its-like-to-be-punk-in-academia
― Neil S, Thursday, 9 February 2017 12:54 (seven years ago) link
about 6 years too late buddy
― frogbs, Thursday, 9 February 2017 14:12 (seven years ago) link
punk's not dead maaaan
it's a cryptocurrency and a payment system invented by an unidentified programmer, or group of programmers, under the name of satoshi nakamoto
― for sale: steve bannon waifu pillow (heavily soiled) (bizarro gazzara), Thursday, 9 February 2017 14:33 (seven years ago) link
that whole article was o_O but the bitcoin stuff seemed particularly questionable
― Neil S, Thursday, 9 February 2017 14:42 (seven years ago) link
Down 9 pct today
― calstars, Thursday, 9 February 2017 15:30 (seven years ago) link
Chinese gov cracking down on their exchanges I guess
― calstars, Thursday, 9 February 2017 15:39 (seven years ago) link
my little bro runs a bitcoin derivatives exchange, it's pretty exciting to see this stuff play out at a distance. making good cash but he put a ton of time into it and knows it could all go belly up any moment.
― frogbs, Thursday, 9 February 2017 15:43 (seven years ago) link
all-time high 2day
― JoeStork, Thursday, 2 March 2017 23:56 (seven years ago) link
I think this should help explain things
https://pbs.twimg.com/media/DAQxFsqVoAAnqii.jpg:large
― Neil S, Monday, 22 May 2017 07:57 (six years ago) link
http://1.bp.blogspot.com/_JMFM__XdmG8/TFdWxa5WSHI/AAAAAAAAAmw/FpwueSoNOsg/s400/glennbeckblackboard.jpg
― ilx liberal moron team UNITE (bizarro gazzara), Monday, 22 May 2017 10:38 (six years ago) link
✓ Consensus > Dogecoin
― Neil S, Monday, 22 May 2017 10:51 (six years ago) link
recently learned that when mtgox disappeared, an acquaintance lost what would be worth more than 9 figures in today's market o_____________O
― just another (diamonddave85), Monday, 22 May 2017 14:19 (six years ago) link
a fool and his bitcoins have financially sharted
― 🎵 it's grey pubic now, stoner blue 🎵 (bizarro gazzara), Monday, 22 May 2017 14:20 (six years ago) link
apparently if the price keeps rising mtgox will actually be able to pay off everyone which would cause an immediate crash, lol
― frogbs, Monday, 22 May 2017 14:21 (six years ago) link
no-one knew economics could be so difficult
― 🎵 it's grey pubic now, stoner blue 🎵 (bizarro gazzara), Monday, 22 May 2017 14:31 (six years ago) link
wonder how much my bitcoins r worth these days
― lag∞n, Monday, 22 May 2017 14:38 (six years ago) link
in retrospect i can see that my choice to invest heavily in groincoins was foolish
― 🎵 it's grey pubic now, stoner blue 🎵 (bizarro gazzara), Monday, 22 May 2017 14:40 (six years ago) link
0.02181037 BTC$46.58
almost fifty bucks!
― lag∞n, Monday, 22 May 2017 14:42 (six years ago) link
I know you can buy / sell through coinbase but what are the tax implications?
― calstars, Monday, 22 May 2017 14:55 (six years ago) link
wld assume capitol gains
― lag∞n, Monday, 22 May 2017 14:56 (six years ago) link
dont take my word for it tho! always remember to google
― lag∞n, Monday, 22 May 2017 14:57 (six years ago) link
lag∞n being modest, he's a certified bit¢oin accountant
― mh, Monday, 22 May 2017 14:57 (six years ago) link
his office is an abandoned refrigerator under a flyover iirc
― 🎵 it's grey pubic now, stoner blue 🎵 (bizarro gazzara), Monday, 22 May 2017 14:58 (six years ago) link
bitcountant
― lag∞n, Monday, 22 May 2017 14:58 (six years ago) link
https://hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
― lag∞n, Tuesday, 8 August 2017 00:00 (six years ago) link
Bitcoin to Climb 15,000%?Expert shows you how to buy in and why the ‘new bitcoin’ could go sky high.
― André Ryu (Neil S), Wednesday, 18 October 2017 12:41 (six years ago) link
that 'new bitcoin' in full
https://www.hawkin.com/media/catalog/product/cache/1/image/9df78eab33525d08d6e5fb8d27136e95/E19736_800.jpg
― midas / medusa cage match (bizarro gazzara), Wednesday, 18 October 2017 12:42 (six years ago) link
slacktivism prime achievedhttps://donateyourtab.to/puertorico
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Wednesday, 18 October 2017 19:53 (six years ago) link
has anyone made a jewish cryptocurrency yet? Bitgelt or something like that?
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 18 October 2017 19:55 (six years ago) link
In the past year, BTC has been in the news a lot but has only risen by a factor of 9. litecoin though has risen by a factor of about 17, and ethereum by about 40.
― calstars, Wednesday, 18 October 2017 19:59 (six years ago) link
¯\_(ツ)_/¯
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 18 October 2017 20:22 (six years ago) link
That's the symbol for the square root of me doubly not giving a fuck
where can I buy beer with those though, or pay my bills
― mh, Wednesday, 18 October 2017 21:02 (six years ago) link
dark web sells beer to minors
― Screamin' Jay Gould (The Yellow Kid), Wednesday, 18 October 2017 22:58 (six years ago) link
i paid 3btc for a pound of beer (fentanyl) on the dark web
― lag∞n, Thursday, 19 October 2017 01:15 (six years ago) link
that is enough beer to kill a whole zoo of elephants, easy
― mh, Thursday, 19 October 2017 03:39 (six years ago) link
thats my plan
― lag∞n, Thursday, 19 October 2017 04:13 (six years ago) link
https://www.wsj.com/articles/tezos-raised-232-million-in-a-hot-coin-offering-then-a-fight-broke-out-1508354704
― lag∞n, Thursday, 19 October 2017 04:18 (six years ago) link
https://pbs.twimg.com/media/DMd3BoEW0AAfMvL.jpg
“hot coin offering” is not a real phrase I should even vaguely comprehend
― mh, Thursday, 19 October 2017 04:23 (six years ago) link
introducing Bail Bloc - it lets you donate your spare computer power to generate bail for low income defenders https://t.co/u0r8PNCuMz— Ayesha A. Siddiqi (@AyeshaASiddiqi) November 15, 2017
― mookieproof, Wednesday, 15 November 2017 17:07 (six years ago) link
would love to hear more about the viability of that
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Wednesday, 15 November 2017 17:14 (six years ago) link
that is fn good as hell
― lag∞n, Wednesday, 15 November 2017 17:17 (six years ago) link
i may have access to a corporate compute cluster right now
i keep making jokes about running mining jobs on it, be kind of funny if i did
― mh, Wednesday, 15 November 2017 17:22 (six years ago) link
ha was just thinking same (i do not have access to a cluster)
― lag∞n, Wednesday, 15 November 2017 17:23 (six years ago) link
im thinking the increased electricity cost may be more than the value i mine lol
― 龜, Wednesday, 15 November 2017 17:25 (six years ago) link
I feel like there's a way to completely evade transparency here, i.e. let the charities skim however much they want from the funds raised without disclosing it at all
― El Tomboto, Wednesday, 15 November 2017 17:26 (six years ago) link
Does this cost more to run in electricity than it generates in revenue for bail?Unlike Bitcoin and other popular crypto coins, which require a great deal of energy to mine, Monero is ASIC-resistant, which means that it requires a comparatively negligible amount of energy, and is therefore cost efficient.How much of my CPU will this require?By default Bail Bloc uses 10% of your CPU, which should make it unnoticeable for most users. This setting is labeled as "Low Impact" on the Settings dropdown menu. You can also optionally increase the CPU impact to 25% (Medium) and 50% (High)
How much of my CPU will this require?By default Bail Bloc uses 10% of your CPU, which should make it unnoticeable for most users. This setting is labeled as "Low Impact" on the Settings dropdown menu. You can also optionally increase the CPU impact to 25% (Medium) and 50% (High)
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Wednesday, 15 November 2017 17:27 (six years ago) link
― El Tomboto, Wednesday, November 15, 2017 12:26 PM (twelve seconds ago) Bookmark Flag Post Permalink
well yeah its the cyber money created specifically for crime
― lag∞n, Wednesday, 15 November 2017 17:29 (six years ago) link
somebody who knows more than me about cryptocurrency: what's the deal with Monero?
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Wednesday, 15 November 2017 17:29 (six years ago) link
this download failed twice they shdve hosted it not on their website
― lag∞n, Wednesday, 15 November 2017 17:37 (six years ago) link
oh its actually on github maybe my 'net is just fd
― lag∞n, Wednesday, 15 November 2017 17:38 (six years ago) link
https://pbs.twimg.com/media/DOsN3ViVwAE81AU.jpg
aw f yea
― lag∞n, Wednesday, 15 November 2017 17:40 (six years ago) link
i put it on high, gonna go for a run will report back with how much cyber bucks ive printed
― lag∞n, Wednesday, 15 November 2017 17:41 (six years ago) link
mine me daddy
https://i.imgur.com/xjI2xzy.png
― lag∞n, Wednesday, 15 November 2017 17:42 (six years ago) link
welp lol wld be cool if more ppl did this
https://i.imgur.com/x0IH3GL.png
― lag∞n, Wednesday, 15 November 2017 20:16 (six years ago) link
no GNU/Linux build?
― scoff walker (diamonddave85), Wednesday, 15 November 2017 22:20 (six years ago) link
“Daddy, tell me the story when you bought Bitcoin at ‘just’ ,200” pic.twitter.com/sTLeqC5gnV— eToro (@eToro) November 29, 2017
― Thomas NAGL (Neil S), Wednesday, 29 November 2017 20:54 (six years ago) link
You can now get a sex toy that changes intensity according to the price of Bitcoinhttps://t.co/PXDdnMphi2 pic.twitter.com/f6eIxXM00r— NME (@NME) December 21, 2017
― mookieproof, Thursday, 21 December 2017 20:53 (six years ago) link
Hope no one’s using that tonight
― JoeStork, Friday, 22 December 2017 07:16 (six years ago) link
I work in the development office of a non-profit organization. Yesterday I was walking past a colleague's office where she was incredulously asking another colleague "I mean, do we really want to accept bitcoin?" I didn't catch the context, but I presume this means that some potential funder has offered to make a donation in bitcoin.
― how's life, Friday, 22 December 2017 10:06 (six years ago) link
this crash is delicious
― calstars, Friday, 22 December 2017 14:02 (six years ago) link
who could ever have seen this coming
― dipso inferno (bizarro gazzara), Friday, 22 December 2017 14:06 (six years ago) link
we mined to close to the sun
― lag∞n, Friday, 22 December 2017 14:10 (six years ago) link
suckas can't get out fast enough
― calstars, Friday, 22 December 2017 14:12 (six years ago) link
This crash isn’t good enough until it’s back to $2 and change and made illegal
― El Tomboto, Friday, 22 December 2017 14:43 (six years ago) link
Fancy winning a Bitcoin? On Friday 22 December, it's Andy Bush's Bitcoin Bonanza!In a UK radio first, Andy is giving away an actual bitcoin if you can tell what 'bit' of a song he's playing and it's all thanks to Lottoland.
― sonnet by a wite kid, "On Æolian Grief" (wins), Friday, 22 December 2017 14:48 (six years ago) link
I chatted with my coworker about her bitcoin comment from yesterday. She directed me to this, which someone else had urged her to consider applying for a grant.
https://pineapplefund.org/
nbd, just anonymous bitcoin millionaire giving away the bits.
― how's life, Friday, 22 December 2017 14:55 (six years ago) link
Bitcoin has not lost value. One bitcoin is still one bitcoin. This is just a temporary adjustment in the exchange rate to obsolete fiat currencies. Calm down.— Donald Hughes (@getfiscal) December 22, 2017
― lag∞n, Friday, 22 December 2017 15:07 (six years ago) link
ahaha holy shit
― dipso inferno (bizarro gazzara), Friday, 22 December 2017 15:10 (six years ago) link
if you're a true believer that's 100% otm though
― frogbs, Friday, 22 December 2017 15:13 (six years ago) link
Fuckit
Only bought the missus a bitcoin necklace for Christmas
― remember the lmao (darraghmac), Friday, 22 December 2017 15:18 (six years ago) link
get fiscal lads
― mookieproof, Friday, 22 December 2017 15:18 (six years ago) link
remember dmac, one bitcoin necklace is still one bitcoin necklace
― dipso inferno (bizarro gazzara), Friday, 22 December 2017 15:25 (six years ago) link
Should've gotten er a blockchain
― remember the lmao (darraghmac), Friday, 22 December 2017 15:47 (six years ago) link
isn't bitcoin fiat money
― crüt, Friday, 22 December 2017 15:52 (six years ago) link
its fake money
― lag∞n, Friday, 22 December 2017 16:13 (six years ago) link
its fat money issued by someone whos fiat isnt backed up by anything
It was cool when it was nerd money. Not any more
― calstars, Friday, 22 December 2017 16:14 (six years ago) link
bitcoin: we will subvert the banksthe US military: whatd u say
― lag∞n, Friday, 22 December 2017 16:17 (six years ago) link
it perfect that bitcoins creators simultaneously cared enough to create something to challenge global financial hegemony and totally underestimated and misunderstood the problem
― lag∞n, Friday, 22 December 2017 16:21 (six years ago) link
+then their product just became another store for fool financial speculation
― lag∞n, Friday, 22 December 2017 16:22 (six years ago) link
its in many ways an ideal story
love ppl r still writing stories abt how while bitcoin may be dumb the blockchain is def a game changer https://www.bloomberg.com/view/articles/2017-11-30/the-blockchain-is-big
keeping yr data store synched on tons of different computers at once is what what passing costs onto the consumer?
― lag∞n, Friday, 22 December 2017 16:25 (six years ago) link
also if u can control more than half of the nodes you can to whatever you want to the data, something that a motivated government cld do to bitcoin and prob a motivated individual cld do to some of the smaller coins
― lag∞n, Friday, 22 December 2017 16:27 (six years ago) link
oop
Coinbase: All buys and sells have been temporarily disabled. We are working on a fix and apologize for any inconvenience. https://t.co/ygbYU4IDzn— Sally Shin (@sallyshin) December 22, 2017
― lag∞n, Friday, 22 December 2017 17:35 (six years ago) link
https://pbs.twimg.com/media/DRqxQWqXkAEp27U.jpg
― lag∞n, Friday, 22 December 2017 17:46 (six years ago) link
this is fibeat
― remember the lmao (darraghmac), Friday, 22 December 2017 18:53 (six years ago) link
I've been in three NFL locker rooms in the last three weeks and the hottest topic, by a wide margin, is which players invested in Bitcoin.— Kevin Clark (@bykevinclark) December 21, 2017
― Sanpaku, Friday, 22 December 2017 18:55 (six years ago) link
Can someone explain "Bitcoin Cash" to me?
― IF (Terrorist) Yes, Explain (man alive), Friday, 22 December 2017 20:04 (six years ago) link
a derivative of bitcoin intended to address the technical failings of the original, it was pitched as "a hard fork" and ppl who had their bitcoins in participating exchanges were granted gratis bitcoin cash at a 1:1 ratio of their bitcoin holdings iirc
― lag∞n, Friday, 22 December 2017 20:08 (six years ago) link
basically just more financial cosplay from weird libertarian nerds and grifters
― lag∞n, Friday, 22 December 2017 20:10 (six years ago) link
i prob have some details of that wrong maybe everyone who has bitcoins got bitcoin cash idk
― lag∞n, Friday, 22 December 2017 20:11 (six years ago) link
That doesn't make any sense to me and I'm guessing that's because it doesn't make any sense.
― IF (Terrorist) Yes, Explain (man alive), Friday, 22 December 2017 20:15 (six years ago) link
Its ok guys. Totally normal. I have a healthy investment attitude.
Bitcoin has "crashed" 30% SIX TIMES in 2017. Each "crash" has been followed by an increase of: 76%, 237%, 183%, 165%, 152%. Bitcoin takes 7 steps forward, 2 steps back, 7 steps forward, 2 steps back. Every 2 steps back is heralded as the end of #bitcoin. Relax! pic.twitter.com/bV5ZFeucTp— Robert Reid (@robertreidmd) December 22, 2017
― how's life, Friday, 22 December 2017 20:18 (six years ago) link
i think the reasoning was if they made something that was better technically for mining and transactions and pegged it to bitcoin then u ppl cld switch over to the technically superior platform without any disruption to the bitcoin price but then the price wasnt really pegged to bitcoin and it crashed idk, was prob just some arbitrage scam from the beginning xp
― lag∞n, Friday, 22 December 2017 20:19 (six years ago) link
don't think that ~i'm from the internet and i'm here to help~ Reid dude is wrong tbh. a lot of early adapters are prob cashing out. except now it's in the mainstream limelight. more fools than ever will still buy, especially buy after this 'crash'.
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Friday, 22 December 2017 20:29 (six years ago) link
how tf was that not 0-2
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Friday, 22 December 2017 20:30 (six years ago) link
Bitcoin cash has settles faster than bitcoin proper. But transactions are still instantaneous.
― calstars, Friday, 22 December 2017 20:30 (six years ago) link
rong thread
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Friday, 22 December 2017 20:31 (six years ago) link
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Friday, December 22, 2017 3:29 PM (twenty-six minutes ago) Bookmark Flag Post Permalink
the real reckoning with bitcoins price will only happen when market manipulation is sorted out, a big part if not all of bitcoins ~value~ is currently being driven by very obviously illegal techniques (read up on tethers for instance) ppl are going to jail for sure, but it wont stop until the exchanges etc are legitimately regulated/run by reputable companies, which is pretty funny when u think abt bitcoins charter to create a new fair financial system
― lag∞n, Friday, 22 December 2017 21:01 (six years ago) link
But transactions are still instantaneous.
― calstars, Friday, December 22, 2017 3:30 PM (thirty-one minutes ago) Bookmark Flag Post Permalink
*manually sets transaction fee, waits for someone to process it*
― lag∞n, Friday, 22 December 2017 21:03 (six years ago) link
satochi unmasked
Yes. I AM the inventor of the bit coin.— ErykahBadoula (@fatbellybella) December 23, 2017
― lag∞n, Saturday, 23 December 2017 19:01 (six years ago) link
the bitcoin blockchain has consumed almost a billion dollars worth of electricity to hash an amount of data equivalent to about a sixth of what I get for my ten dollar a month dropbox subscription.
https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100
― lag∞n, Wednesday, 27 December 2017 20:08 (six years ago) link
otm re the blockchains irrevocability being marketed as a feature when its a bug, tho arguing that banking costs are just fair payment for services rendered is dumb, but of course the problems with the banks is political not technological in nature
― lag∞n, Wednesday, 27 December 2017 20:18 (six years ago) link
there’s no reason to not have a chain of blockchains with significantly fewer entries, not requiring lots of computational power to track stuff. there are other possibilities but it’s a good argument why it’s a good tech for tracking assets but really bad for a single, scarcity-based value system
― mh, Wednesday, 27 December 2017 20:50 (six years ago) link
Blockchain needs about 20 more years before it starts enabling anything legit. This is consistent with history, not sure why patterns keep surprising everyone oh wait old stuff is boring
― El Tomboto, Wednesday, 27 December 2017 21:47 (six years ago) link
"old stuff is boring" is one of the Three Programmer Diseases, I forget the other two
― .oO (silby), Wednesday, 27 December 2017 21:50 (six years ago) link
yea Blockchain seems like the textbook solution in search of a problem
― frogbs, Wednesday, 27 December 2017 21:57 (six years ago) link
1. you cant make a chain out of blocks2.programmers plz learn abt stuff
― lag∞n, Wednesday, 27 December 2017 22:13 (six years ago) link
that was kind of the gist of an another software development anecdote I heard this year: if you want to know what is going to be big really soon, look at what academic research was into 15 - 20 years ago
― mh, Thursday, 28 December 2017 02:22 (six years ago) link
biomed was big in 1998 i think?
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Thursday, 28 December 2017 03:55 (six years ago) link
most academic research will go nowhere but then some of it will be a big deal its just pretty much impossible to figure out what will pan out, blockchain on the other hand is just some weird left field shit created by like one to five guys who may or may not be academics that caught the fancy of VCs and online thought leaders professional and otherwise, seems unlikely if it cant find a use beyond pretend currencies with all the resources thatve been pumped into it that its going to emerge from hibernation in 20 years to be useful to someone, interesting tho that its creators were really just in it for the currency aspect and all the visionary free associating was grafted on by ppl looking for the next big thing, but not looking that hard
― lag∞n, Thursday, 28 December 2017 04:27 (six years ago) link
its basically the google glass of data storage schemes
― lag∞n, Thursday, 28 December 2017 04:29 (six years ago) link
The tulips of distributed hash tables
― .oO (silby), Thursday, 28 December 2017 04:39 (six years ago) link
Like ppl already make lots of money off data structures it’s called AWS
― .oO (silby), Thursday, 28 December 2017 04:40 (six years ago) link
tbh i do find one thing abt it compelling: crime, especially as technology facilitates more more the global surveillance state
― lag∞n, Thursday, 28 December 2017 04:43 (six years ago) link
the problem is u still have to cash out some how and that interface with the accredited financial system is always going to be a pain point, the whole crypto currency scenario doesnt really work unless u can spend them, which will never happen because a. its a terrible product b. if it did become popular itd just be regulated anyway
― lag∞n, Thursday, 28 December 2017 04:45 (six years ago) link
imo the big win of machine learning stuff is going to be training people that data retention is important, and that there is no _bad data_the last point is hard to convince people of, even scientists want to delete failed experiments, botched lab stuff (forgot to set a thermometer, whatever) when you should just flag it accordingly and document a reason. if you want processes to get better, you have to document how your process failed and ppl hate that
― mh, Thursday, 28 December 2017 05:01 (six years ago) link
imo the blockchain is good because data can’t be removed, but the mechanism is horrible
― mh, Thursday, 28 December 2017 05:02 (six years ago) link
everything can be deleted --game of thrones
― lag∞n, Thursday, 28 December 2017 15:15 (six years ago) link
Head of Exmo has been kidnapped:
https://www.bbc.com/news/amp/business-42505261
― Wag1 Shree Rajneesh (ShariVari), Thursday, 28 December 2017 17:41 (six years ago) link
The reports said he was dragged into a black Mercedes-Benz by men wearing balaclavas.
hell yea
― lag∞n, Thursday, 28 December 2017 17:43 (six years ago) link
Yr man was released after paying $1m in Bitcoins as a ransom. Shame the police can’t trace them now, eh?
― Wag1 Shree Rajneesh (ShariVari), Friday, 29 December 2017 20:52 (six years ago) link
https://www.cnbc.com/2018/01/02/ceo-of-soaring-blockchain-stock-sells-about-870000-worth-of-the-shares.html
looooool
― 龜, Wednesday, 3 January 2018 19:05 (six years ago) link
salute lol
― lag∞n, Wednesday, 3 January 2018 19:09 (six years ago) link
https://fm.cnbc.com/applications/cnbc.com/resources/img/editorial/2018/01/02/104924577-Screen-Shot-2018-01-02-at-4.01.34-PM.1910x1000.jpg?v=1514926990
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 3 January 2018 19:17 (six years ago) link
That means O'Rourke received a gross payout of $869,256 and made at least $712,000 on Riot's 600-plus percent price surge in the last few months on a name change that added the word "blockchain."Announcements tying companies to the blockchain technology that also backs bitcoin have caused several tiny stocks to soar dramatically in the last several months. In December, bitcoin itself had briefly surged about 1,900 percent for the year.
― pee-wee and the power men (bizarro gazzara), Wednesday, 3 January 2018 19:26 (six years ago) link
def normal stuff insane price volatility in online money u cant spend anywhere + other insanely obvious signs of market manipulation https://hackernoon.com/tether-the-tail-wagging-the-dog-3ebfd4640825
― lag∞n, Wednesday, 3 January 2018 19:46 (six years ago) link
A co worker bought ripple at 16 cents and now its fucking $2.70
― calstars, Wednesday, 3 January 2018 23:20 (six years ago) link
That’s a 1600% gain in two months or soBut it ain’t a profit unless he sells that’ shit
xp
i mentioned buying ripple wld be good a couple weeks ago in the other bitcoin thread since it is so cheap and was the non-mining cryptocurrency that saw the biggest increase in value plus bank thing etc
anyway it's all pretty volatile/unstable now so it's anybody's guess as to which ones will be of any value in the future
― infinity (∞), Wednesday, 3 January 2018 23:29 (six years ago) link
https://gizmodo.com/chinas-crackdown-on-crypto-mining-threatens-bitcoins-fu-1821820017
oh man how is it possible that governments could ever control this that isn't possible nakamoto said so
― El Tomboto, Saturday, 6 January 2018 22:08 (six years ago) link
bitcoin is the cia do yr research
― lag∞n, Saturday, 6 January 2018 22:39 (six years ago) link
I’m hearing from a few people with bitcoins (yes, plural) and other cryptocurrencies that mining is no longer where the money isThe article seems to be conflating mining cryptcurrencies with all cryptocurrencies
― infinity (∞), Saturday, 6 January 2018 22:43 (six years ago) link
Tempted to either:1. Buy a tonne of different cheap cryptoc and risk gaining/losing a bit with whichever increases/decreases in value2. Buy ethereum3. Buy ripple
― infinity (∞), Saturday, 6 January 2018 22:45 (six years ago) link
Just imagine the run when this shit is revealed to be nothing.
― calstars, Saturday, 6 January 2018 22:54 (six years ago) link
It's been fun to see how my dad suddenly got sucked up into cryptocurrency. I've only seen him like this 25 years ago when stocks suddenly drew his attention in a mad way. He's got Ethereum now and knows more about blockchains etc than I do. He feels so fucking cutting edge lol.
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Saturday, 6 January 2018 23:04 (six years ago) link
Eth is so ‘16
― calstars, Saturday, 6 January 2018 23:07 (six years ago) link
Sorry for bumping thoughThis thread deserves to die
― calstars, Saturday, 6 January 2018 23:08 (six years ago) link
I take this as another form of gambling which i tend not to do but meh a couple thousand is like a trip to vegas
― infinity (∞), Saturday, 6 January 2018 23:08 (six years ago) link
Ok except is Vegas is leagues more fun than this shit
― calstars, Saturday, 6 January 2018 23:11 (six years ago) link
Been to Vegas enough times to have gotten bored of it tbh
― infinity (∞), Saturday, 6 January 2018 23:11 (six years ago) link
Like put a grand on a sports book with results in 2 hours and go for a stoned drive down LV blvd
― calstars, Saturday, 6 January 2018 23:13 (six years ago) link
So sorry !
the real move is to start an exchange then steal everyones money
Due to the extremely high number of registrations that have occurred recently we have paused our registration feature while out team works to make changes in our internal systems to cope with the increased level of traffic our site is experiencing.— Cryptopia Exchange (@Cryptopia_NZ) January 6, 2018
― lag∞n, Saturday, 6 January 2018 23:13 (six years ago) link
occurs to me that at current prices the mt gox hack may be the biggest robbery ever in the history of the world (depending on how u define robbery)
― lag∞n, Saturday, 6 January 2018 23:17 (six years ago) link
This reminds me of the days my buddy and i used to bet on horses
― infinity (∞), Saturday, 6 January 2018 23:19 (six years ago) link
$450 million at the time (still prob top 10)$14.5 trillion at todays price! lmfao
~a quarter of that was recovered but still
― lag∞n, Saturday, 6 January 2018 23:22 (six years ago) link
they said it was all stolen then found 200k btc in an old wallet
― lag∞n, Saturday, 6 January 2018 23:26 (six years ago) link
Kodak stock is up 44% after announcing it's launching a cryptocurrency called KODAKCoin because 2018 https://t.co/IZ463x6fDS pic.twitter.com/psKBQlk4oQ— Seth Fiegerman (@sfiegerman) January 9, 2018
― mookieproof, Tuesday, 9 January 2018 18:03 (six years ago) link
Ilxcoin when
― The Bridge of Ban Louis J (silby), Tuesday, 9 January 2018 18:07 (six years ago) link
i was gonna make ILXcoin a few years ago but couldn't get the code to compile on my machine so i gave up
― scoff walker (diamonddave85), Tuesday, 9 January 2018 18:17 (six years ago) link
ILXcoin now, is when!
(btw, my stock just jumped 74%, get ilxcoin while it's hot, oh wait we must make adjustments for the suddenly high demand for ilxcoin, please stand by)
― Bobby Buttrock (Old Lunch), Tuesday, 9 January 2018 18:21 (six years ago) link
In the future, everyone will have their own cryptocurrency for fifteen minutes.
https://pbs.twimg.com/media/DTH_PHiX0AEfueF.jpg
h8 bitcoin hodlers
― mookieproof, Tuesday, 9 January 2018 20:25 (six years ago) link
Admittedly, I are people who is now bitter. Good call.
― the smartest persin in the room (Old Lunch), Tuesday, 9 January 2018 20:28 (six years ago) link
lmao did you notice the name on top
― frogbs, Tuesday, 9 January 2018 20:29 (six years ago) link
millenial nocoiners
― mh, Tuesday, 9 January 2018 20:29 (six years ago) link
i am actually intrigued by what the kodak coin might lead to for people who produce images for a living:
In an official announcement, Kodak said the cryptocurrency would underpin "an encrypted, digital ledger of rights ownership for photographers." Kodak is working with a company called WENN Digital on the initiative.The idea is that photographers could use Kodak's forthcoming blockchain to register works, with "KODAKCoin" functioning as a medium of exchange on the platform. Users can receive payment in the cryptocurrency as well as pay for rights, according to the company.
The idea is that photographers could use Kodak's forthcoming blockchain to register works, with "KODAKCoin" functioning as a medium of exchange on the platform. Users can receive payment in the cryptocurrency as well as pay for rights, according to the company.
― Karl Malone, Tuesday, 9 January 2018 21:03 (six years ago) link
theres also this for the lulz
https://nypost.com/2018/01/08/ceo-of-porn-cryptocurrency-disappears-with-investor-money/
― infinity (∞), Tuesday, 9 January 2018 21:07 (six years ago) link
I feel like the definition of the word 'currency' is a little more specific than the fashion in which it's being bandied about these days.
In other news, I'd like to introduce you all to my new cryptocurrency, Salsacoin. It's a robust yet mild salsa and it's just to die for.
― the smartest persin in the room (Old Lunch), Tuesday, 9 January 2018 21:10 (six years ago) link
does it come in extra hot
― infinity (∞), Tuesday, 9 January 2018 21:12 (six years ago) link
if i can get in on salsacoin when it's still valued at .0000000000000001 BTC, we can buy an ILX yacht with the profits when it's valued at .000001 BTC
― Karl Malone, Tuesday, 9 January 2018 21:12 (six years ago) link
didn't see the nainan / bitcoin crossover coming but in retrospect it's so obvious
― pee-wee and the power men (bizarro gazzara), Tuesday, 9 January 2018 21:13 (six years ago) link
obvcoin
― infinity (∞), Tuesday, 9 January 2018 21:13 (six years ago) link
km otm tho, kodakcoin actually sounds like it might be... a good idea?
― pee-wee and the power men (bizarro gazzara), Tuesday, 9 January 2018 21:14 (six years ago) link
would be nice if someone or something that wasn't a big dying company would take the lead on it, though.
― Karl Malone, Tuesday, 9 January 2018 21:17 (six years ago) link
someone like... dan nainan?
― pee-wee and the power men (bizarro gazzara), Tuesday, 9 January 2018 21:18 (six years ago) link
he has youth on his side after all
i...must admit that that i have no idea who dan nainan is, but that name sounds fake
― Karl Malone, Tuesday, 9 January 2018 21:19 (six years ago) link
oh boy you’re in for a treat my dude
― pee-wee and the power men (bizarro gazzara), Tuesday, 9 January 2018 21:21 (six years ago) link
https://www.thedailybeast.com/dan-nainan-the-medias-favorite-millennial-is-55-years-old"> https://www.thedailybeast.com/dan-nainan-the-medias-favorite-millennial-is-55-years-old
― pee-wee and the power men (bizarro gazzara), Tuesday, 9 January 2018 21:23 (six years ago) link
find a nonce by shaking and blowing on your monitor
― Scatperson (ski-ba-bop-ba-dop-whore.) (Sufjan Grafton), Tuesday, 9 January 2018 21:28 (six years ago) link
obligatory
https://media.giphy.com/media/ifxLK48cnyDDi/giphy.gif
― Karl Malone, Tuesday, 9 January 2018 21:29 (six years ago) link
― Karl Malone, Tuesday, 9 January 2018 21:30 (six years ago) link
goddammit. i don't know how the internet works.
buscemi__howdoyoudofellowkids.gif
i can see the two gifs
― lag∞n, Tuesday, 9 January 2018 21:34 (six years ago) link
https://www.youtube.com/watch?v=cAuPmbF0tbY
― IF (Terrorist) Yes, Explain (man alive), Tuesday, 9 January 2018 21:36 (six years ago) link
― pee-wee and the power men (bizarro gazzara), Tuesday, January 9, 2018 3:14 PM (twenty-six minutes ago) Bookmark Flag Post Permalink
someone at work was making a case for blockchain-style auditing on scientific experiment data storage the other day and yeah, that's actually a good use case
― mh, Tuesday, 9 January 2018 21:43 (six years ago) link
Blockchain as an distributed asset register and tracking tool is legitimately a good use of the tech and there’s probably far more value in that use case in the long run than as a ‘currency’. The major downside of blockchain is that time to transact is almost always going to be slower Han with a centralised data store but for the asset management use case this isn’t necessarily that much of a downside.
― American Fear of Pranksterism (Ed), Tuesday, 9 January 2018 21:48 (six years ago) link
Karl you are going to love this guy
― frogbs, Tuesday, 9 January 2018 22:01 (six years ago) link
one of the funniest 2017 bitcoin news things to me was that ppl who had lost money held on mtgox ended up resuing them because they had their bankruptcy claims settled in yen and the btc that mtgox still held ended up being worth way more than the yen settlements made in 201X, meaning that mtgox ended up much better off than their former account holders
kinda got sucked into crypto cuz some of my coworkers are super into and have been trading a little, bought a cool cold wallet, which is a cool name
― (° . ° )― (Lamp), Tuesday, 9 January 2018 22:25 (six years ago) link
https://i.imgur.com/la4PbX5.jpg
― pee-wee and the power men (bizarro gazzara), Tuesday, 9 January 2018 22:27 (six years ago) link
^created bitcoin iirc
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Wednesday, 10 January 2018 04:08 (six years ago) link
So if I understand correctly referring to blockchain transactions as 'currency' is roughly analogous to calling that device in your pocket a 'phone' even though communicating through it with your voice only accounts for like 7% of said device's total employment.
― the smartest persin in the room (Old Lunch), Wednesday, 10 January 2018 05:35 (six years ago) link
Hey I have an all-new cryptocurrency, it's called Chocolateraincoin, and it's a thing where I use blockchain to send you a video file of 'Chocolate Rain' and you send me a different video file in exchange. We gon be rich, my man.
― the smartest persin in the room (Old Lunch), Wednesday, 10 January 2018 05:37 (six years ago) link
Best to think of blockchain as a self replicating database that exists in a distributed form across the network. It has some really interesting applications as a transaction ledger, asset register and tracking tool. Every time there is a change that change can be recorded in the block chain. The idea being that sooner or later everyone with access to the blockchain has a copy of that information and this distributed ledger is really hard to corrupt because changes to one copy of the ledger won’t be proegated across the network so will stick out like a sore thumb.
I’m guess that Kodak’s blockchain stores some kind of fingerprint gat can be dervied from an image. Any time the image is used the fingerprint can be checked against the copy Store in he blockchain and the owner identified and compensated.
I had a very frustrating internal company hackathon just recently run by some blockchain consultants. I was there to give the coders something to work on and tried to get them to work on a distributed asset register system. Unfortunately the techbro consultant banged on for 20 minutes about coins vs fiat currency and we needed up with a blockchain based rewards programme.
― American Fear of Pranksterism (Ed), Wednesday, 10 January 2018 06:29 (six years ago) link
Possibly only funny to aus peeps re our tax system but this is gold:
http://www.betootaadvocate.com/humans-of-betoota/local-cryptopreneur-learn-capital-gains-tax/
― Stoop Crone (Trayce), Wednesday, 10 January 2018 08:28 (six years ago) link
(Betoota is a local Onion site in case that wasnt obvious)
the kodak one would make sense from an attribution standpoint but I'm wondering how long it'd be until someone determines how it's either storing a key in the image, the image metadata, whatever, and someone writes a tool that scrambles it
of course this is my random speculation based on how I think it'd work, they might have a better solution
― mh, Wednesday, 10 January 2018 15:44 (six years ago) link
lmao this threads ~thoughts~ on kodakcoin when compared to what kodak is actually doing is the perfect microcosm of the bitcoin hypecycle
Kodak is selling a Bitcoin miner where you pay for a two year contract and “make a profit”. (*at current prices, Kodak gets half of all bitcoin you produce.) This is the dumbest shit I’ve ever seen at CES. pic.twitter.com/rbzECVEMn7— Chris Hoffman (@chrisbhoffman) January 9, 2018
― lag∞n, Wednesday, 10 January 2018 16:21 (six years ago) link
and obvs obvs OBVS even if they ever do develop a photo attibution/payment coin no one will ever use it in a million years lol cmon
― lag∞n, Wednesday, 10 January 2018 16:23 (six years ago) link
client ok can i paypal you
actually download this crypto wallet then........
itd be funny to play the blockchain dreams game except with relational databases, u cld really accomplish a lot of stuff the future is limitless
― lag∞n, Wednesday, 10 January 2018 16:25 (six years ago) link
the cool thing abt the blockchain is that everyone gets to be a database admin
― lag∞n, Wednesday, 10 January 2018 16:29 (six years ago) link
a guid for you, a guid for you... guids for everyone!
― mh, Wednesday, 10 January 2018 16:30 (six years ago) link
https://pbs.twimg.com/media/DTMU1P7X0AM5KZN.jpg
― lag∞n, Wednesday, 10 January 2018 16:41 (six years ago) link
finally
― mh, Wednesday, 10 January 2018 16:46 (six years ago) link
it's been a while since i've read the whitepaper (which i recommend: it's a surprisingly easy read), but iirc part of the whole deal with the currency is that it's an incentive to uphold the current consensus blockchain
― scoff walker (diamonddave85), Wednesday, 10 January 2018 17:01 (six years ago) link
even the currency part is really more like a commodity or an old fashioned commodity backed currency eg the gold standard than it is like a currency as we understand it today, which its no surprise this scheme was developed by libertarians who are insanely stupid and wrong headed about this sort of thing
― lag∞n, Wednesday, 10 January 2018 17:06 (six years ago) link
but anyway no blockchain isnt being used for many non currency things some unclear if anyone is actually using smart contract functionality aside the world changing potential of the blockchain is pure thought leader coke dreams at this point, and i havent read the bitcoin whitepaper but i have seen a bunch of those satochi emails and it seems pretty clear from those that the point of developing the blockchain was to support cryptocurrency with an explicitly political goal of undermining governmental/banking monopolies on money
― lag∞n, Wednesday, 10 January 2018 17:12 (six years ago) link
currency is, at its root, cash that's issued and verified by a central authority. any paperless transaction is handled by financial institutions that, again, are regulated and government by that authority
blockchain currency has some great selling points for asset management in that there's a commodity that has a known scarcity (a "coin"), absolutely everyone knows where every single coin is at every point in time because there's a ledger that shows the current assigned owner and absolutely every transaction back to when it was created.
so using "coins" as a marker of assets is completely linked to trust in the distributed ledger system. the problem with using it as currency, actually buying things that aren't agreed to have a value in a certain number of coins, is that you introduce intermediaries to let you trade in fractional coins.
bitcoin is basically a really halfassed gold standard. I have a brick of gold, I hand it to a guy who holds on to it, and he'll let me pull it back out, pay me for it, or (uh oh) spend a fraction of that brick. Any fractional trading is now 100% based on trust in this guy who has my brick -- it's his brick now, possession is 9/10th etc. So now your faith is transferred to an intermediary keeping track of things. It's someone running a gold standard bank, you trust that they have the gold bricks in the back room. any time someone trades less than a full bitcoin they're doing this, and the blockchain may not even be touched
transactions against the actual blockchain, that's trading in full bricks of gold. if it's assigned to your account and you maintain ownership of your keys, it's 100% yours -- you can load up the ledger and do your own transactions. But doing transactions against the ledger is now a pain the the ass because of the amount of space it takes and the computing power/time investment. so I decide to use an intermediary to handle transactions for me. again, this is giving some of my trust to a third-party, and they're using my authority on my behalf
― mh, Wednesday, 10 January 2018 17:23 (six years ago) link
Bitcoin is divisible to like 8 places though. theoretically there's no difference between 1 BTC and 0.01 BTC.
still, that does touch on a major issue with any cryptocurrency - there's no failsafe, if I've got $50k in BTC and I lose the private key (or, more likely, trust it to a bad exchange), it's just gone forever. once those systems get built in you're left with a really inefficient and less safe version of the monetary system we have now.
― frogbs, Wednesday, 10 January 2018 17:27 (six years ago) link
Yet another reason that occurs to me as to why bitcoin will never see widespread adoption: no one is going to make people do it, so only true believers will ever use it. People use US currency because (1) it's what they get paid in (2) you can pay for goods with it everywhere and (3) you HAVE TO pay your taxes in it. Even if lots of retailers start accepting bitcoin, I don't see 1 and 3 changing. I don't even think a substantial minority of people will ever adopt some crazy newfangled currency that no one forces them to use.
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 17:32 (six years ago) link
xp yeah, I botched that part of the explanation
the problem with allowing fractional trading is the number of transactions increases exponentially, leading to case #2 there where no one can handle their own transaction
― mh, Wednesday, 10 January 2018 17:33 (six years ago) link
tbh there are some real-world paper currencies that have less faith than bitcoin
and never forget the giant shipping containers of US dollars that were sent to buy off warlords in afghanistan, etc.those dudes were not using them for american taxes per se
― mh, Wednesday, 10 January 2018 17:35 (six years ago) link
I mean, bitcoin is garbage, but every form of currency is garbage to some extent
xp sure but ultimately the value of dollars still stems from its use as the world's reserve currency, which stems from it being the currency issued by the most powerful country in the world. There is no case for bitcoin ever reaching anything close to that status, only libertarian weirdos, black market transactors, money launderers and people trying to escape restrictions on moving their money abroad seem to have actual use for bitcoin, with the rest just being speculation and manipulation.
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 17:39 (six years ago) link
Thanking u guys, I will try to parse your explanations but I'm pretty dumb so we'll see.
― the smartest persin in the room (Old Lunch), Wednesday, 10 January 2018 17:44 (six years ago) link
this is pretty much OTM and why I can't see another currency whose value fluctuates relative to USD ever working without some sort of major systematic collapse. BTC's massive rise is even more confusing since it's actually being used LESS now - all the random retailers and coffee shops that used to accept BTC don't anymore, since the transactions can take a long time and barely anyone ever wanted to use it. there are all sorts of logistical problems inherit in BTC ever seeing widescale adoption - it still does not fundamentally scale, if even 1% of all transactions done on a given day were done in BTC the entire system would slow to a crawl and transactions may not get processed until weeks later, which can be abused in a number of ways.
― frogbs, Wednesday, 10 January 2018 17:44 (six years ago) link
― frogbs, Wednesday, January 10, 2018 12:27 PM (three minutes ago) Bookmark Flag Post Permalink
yeah the no recourse nature of the system is pitched as a feature when its obviously a huge bug, like what do u do if you order something online with bitcoin and it never comes, nothing! unless theres some sort of third party..... intermediary
hilarious thing abt smart contracts being the first blockchain dream to actual exist is the first big test case for them was an investment pool that was immediately compromised and had all their money stolen lol
its interesting that these ppl who develop extremely technically complex systems are so bad at understanding other ostensibly technical concepts like money and contracts, like if you ask a lawyer what a contract is they will tell you its a meeting of minds, its what all parties to the contract agreed upon, which is why you cant be held to a contract that you were tricked into signing, but blockchainist just go ahead and take the tv show version of a contract where youre held to exactly what it says on the paper, and then as soon as they try it someone smarter than them at contracts steals all their money, they think theyre cutting lawyers out of the loop when really theyre inventing a class of super predator lawyers/programers lol
― lag∞n, Wednesday, 10 January 2018 17:45 (six years ago) link
oh yeah, you're banking on high value actual transactions occurring in the system to prop up its value
faith in the black market or the US government, take your pick (for the record the latter is better for me, but I'm relatively above board)
the speculators are big liars but want in on thisThe estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars.
― mh, Wednesday, 10 January 2018 17:46 (six years ago) link
― mh, Wednesday, January 10, 2018 12:35 PM (ten minutes ago) Bookmark Flag Post Permalink
uh no many currencies have armys to ensure that ppl respect them
― lag∞n, Wednesday, 10 January 2018 17:48 (six years ago) link
tracking "currency" as an asset that needs a chain of ownership is completely asinine btw, it's all just imaginary numbers
that said, the early intermediaries were so bad it'd be like someone at Bank of America being able to open a checking account, just type "one billion dollars" as the balance without transferring it from another account, and then just spending it all over the place for a while without getting caught
― mh, Wednesday, 10 January 2018 17:48 (six years ago) link
yeah the army thing is key
btw if you work at Bank of America and figure out a way to do that, go for it. it'd be really cool
― mh, Wednesday, 10 January 2018 17:49 (six years ago) link
if u work at bank of america plz give me some money thx
― lag∞n, Wednesday, 10 January 2018 17:50 (six years ago) link
https://pbs.twimg.com/media/DTMn0ZTWkAAY3xl.jpg
― lag∞n, Wednesday, 10 January 2018 17:52 (six years ago) link
I've heard the whole thing explained as a bunch of libertarian techbros learning one by one what every piece of financial regulation is for
one thing I hear a lot is "well yea you can steal the money, but then no one will ever trust you again" which is a remarkably dumb defense. but this is kind of how they think the system will work itself out.
but none of this matters anyway as crypto has basically gotten to the point where it's 100% a gamble. the true believers are out there but at this point nearly all the discussion about crypto is "oooh how much USD is this gonna be worth?". to which I say, just bet sports, it's a lot more fun
― frogbs, Wednesday, 10 January 2018 17:52 (six years ago) link
the situation is pretty funny def but at the end of the day some poor saps who mortgaged their house to buy dogecoin are just gonna be left holding the bag while some finance/startup bros party in ibiza
― lag∞n, Wednesday, 10 January 2018 17:54 (six years ago) link
tbf this seems pretty foolproof against rape charges because it ensures a woman will never have sex with you
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 17:56 (six years ago) link
― lag∞n, Wednesday, 10 January 2018 17:58 (six years ago) link
unless you pay them in womancoin
― frogbs, Wednesday, 10 January 2018 17:58 (six years ago) link
seems clear to me that the price of cryptocurrencies is being entirely driven by market manipulation at this point, will be interesting to see what happens once that shakes out via regulation or other forces, cld see the entire thing just dying tbh, the combo of not really having any use as a product and being exposed as a scam might be too much to recover from, tho i still feel like theres some niche for crime
― lag∞n, Wednesday, 10 January 2018 17:59 (six years ago) link
who on this board wld like to develop the perfect crimecoin with me
― lag∞n, Wednesday, 10 January 2018 18:02 (six years ago) link
there's a thing called Tethercoin which is kind of exactly this
― frogbs, Wednesday, 10 January 2018 18:02 (six years ago) link
yeah I sort of wonder how much market cap you would need just to cover the criminal/dubious uses. I imagine money launderers don't hold bitcoin very long but trade in and out of it to make their steps harder to trace. $5B? $10B?
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 18:03 (six years ago) link
xps re:legal fling: that is ridiculous, though i think some sort of verifiable consent protocol will be necessary when teledildonics (lol..) starts taking off
― scoff walker (diamonddave85), Wednesday, 10 January 2018 18:04 (six years ago) link
tether is super key to how the price is being manipulated
― lag∞n, Wednesday, 10 January 2018 18:04 (six years ago) link
― scoff walker (diamonddave85), Wednesday, January 10, 2018 1:04 PM (one minute ago) Bookmark Flag Post Permalink
um yeah bump this thread when that happens
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 18:06 (six years ago) link
i mean, security researchers already showed that it's possible to scan for "smart butt plugs" and that it would be possible to remotely control them
― scoff walker (diamonddave85), Wednesday, 10 January 2018 18:07 (six years ago) link
im personally sick and tired of waiting to be murdered by a hacked sex robot
― lag∞n, Wednesday, 10 January 2018 18:08 (six years ago) link
im personally sick and tired of waiting to be sexed by a hacked murderbot
― pee-wee and the power men (bizarro gazzara), Wednesday, 10 January 2018 18:10 (six years ago) link
The more I hear about all of this stuff the more I'm convinced the person behind at least one of these "currencies" will turn out to be an 11-year-old named JR
― very stabbable gaius (wins), Wednesday, 10 January 2018 18:12 (six years ago) link
Isn't bitcoin an instantiation of teledildonics, in a way?
― the smartest persin in the room (Old Lunch), Wednesday, 10 January 2018 18:14 (six years ago) link
bitcoin has certainly fucked thousands of people right enough
― pee-wee and the power men (bizarro gazzara), Wednesday, 10 January 2018 18:17 (six years ago) link
I don't have the energy to do it right now but I kind of want to photoshop one of those old comic frames (of the roy lichtenstein type) of a man about to kiss a woman, and they each have speech bubbles but the dialogue is just bitcoin keys
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 18:31 (six years ago) link
send me bitcoins and i will do it for u
― lag∞n, Wednesday, 10 January 2018 18:32 (six years ago) link
― lag∞n, Wednesday, January 10, 2018 12:08 PM (forty-two minutes ago) Bookmark Flag Post Permalink
― pee-wee and the power men (bizarro gazzara), Wednesday, January 10, 2018 12:10 PM (forty minutes ago) Bookmark Flag Post Permalink
I'd only considered one of these, but I'm for both now
― mh, Wednesday, 10 January 2018 18:52 (six years ago) link
When you request sexual consent via LegalFling and the response is negative, that denial is permanently stored in the cockblockchain
― mick signals, Wednesday, 10 January 2018 19:05 (six years ago) link
the friendchainzone
― lag∞n, Wednesday, 10 January 2018 19:06 (six years ago) link
incelcoin
― pee-wee and the power men (bizarro gazzara), Wednesday, 10 January 2018 19:09 (six years ago) link
lag∞n i would make little ilxcoins with u
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Wednesday, 10 January 2018 19:13 (six years ago) link
cool do u know how to program computers lol (i do but prob not good enough to make a coin)
― lag∞n, Wednesday, 10 January 2018 19:16 (six years ago) link
http://loyalkng.com/wp-content/uploads/2009/02/rabbit-loving-is-pretty-lul.jpg
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Wednesday, 10 January 2018 19:23 (six years ago) link
feeling very inspired rn
― lag∞n, Wednesday, 10 January 2018 19:27 (six years ago) link
block my chain up
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Wednesday, 10 January 2018 19:28 (six years ago) link
I can't turn my face into a coin!
Or can I???
― the smartest persin in the room (Old Lunch), Wednesday, 10 January 2018 19:37 (six years ago) link
ILX should offer a crypto. Perhaps YSICoin
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 19:58 (six years ago) link
i'll give it another shot this weekend
― scoff walker (diamonddave85), Wednesday, 10 January 2018 20:03 (six years ago) link
yassss
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Wednesday, 10 January 2018 20:10 (six years ago) link
Bitcoin conference stops accepting BTC due to high fees. https://t.co/cSaqYHscl0— Louis (@Luwhi) January 10, 2018
― lag∞n, Wednesday, 10 January 2018 21:07 (six years ago) link
I hope it never dies
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 21:07 (six years ago) link
Ban Luhwi Jagger
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Wednesday, 10 January 2018 21:10 (six years ago) link
https://pbs.twimg.com/media/DTIrWLmW4AASyu1.jpg
― lag∞n, Wednesday, 10 January 2018 21:27 (six years ago) link
That could be us!
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Wednesday, 10 January 2018 21:27 (six years ago) link
Time to do an *ILPO*
― IF (Terrorist) Yes, Explain (man alive), Wednesday, 10 January 2018 21:49 (six years ago) link
i'm rich https://i.imgur.com/ocqAYmh.png
― scoff walker (diamonddave85), Friday, 12 January 2018 05:27 (six years ago) link
i'll seriously buy some just to be part of history
― Karl Malone, Friday, 12 January 2018 05:28 (six years ago) link
wait for the ICO
― scoff walker (diamonddave85), Friday, 12 January 2018 05:30 (six years ago) link
wait...does this have the support of traditional financial institutitions? because if it does, then this coin is history! or a legend! wait, what
― Karl Malone, Friday, 12 January 2018 05:31 (six years ago) link
all jokes aside though, holy shit! i didn't realize you could make a cryptocurrency/wallet that quickly??
― Karl Malone, Friday, 12 January 2018 05:32 (six years ago) link
donations accepted at ILXcoin address: 1CH7XgXsG9b2itZ8tpkdw4u8uyG4L1XMR7
― scoff walker (diamonddave85), Friday, 12 January 2018 05:32 (six years ago) link
plz sir i want but to mine
― lag∞n, Friday, 12 January 2018 05:33 (six years ago) link
i just took the bitcoin source and more or less changed BTC to ILX, the hard part is creating the new blockchain which i sort of had working yesterday. but today i can't figure out why i'm 27 hours behind and the headers aren't syncing
― scoff walker (diamonddave85), Friday, 12 January 2018 05:34 (six years ago) link
these are temporary issues - expect ILXcoin to triple in value or more pending their resolution
― Karl Malone, Friday, 12 January 2018 05:37 (six years ago) link
TypicalIlx sellsNo one buys it
― infinity (∞), Friday, 12 January 2018 08:11 (six years ago) link
― ♫ very clever with maracas.jpg ♫ (Le Bateau Ivre), Friday, 12 January 2018 12:12 (six years ago) link
https://pbs.twimg.com/media/DVTF3T0X0AAqUro.jpg
― lag∞n, Monday, 5 February 2018 20:48 (six years ago) link
kinda lol but still, amazing how that insane run up in 2014 is now effectively a blip
― frogbs, Monday, 5 February 2018 20:56 (six years ago) link
bitcoins are dumb and bad and ppl who like them are also dumb and bad
― Men's Scarehouse - "You're gonna like the way you're shook." (m bison), Tuesday, 6 February 2018 04:19 (six years ago) link
sub in stock market for bitcoin and you're still right
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Tuesday, 6 February 2018 15:53 (six years ago) link
https://pbs.twimg.com/media/DVGavKEVMAAxKnm.jpg:small
― mookieproof, Tuesday, 6 February 2018 17:13 (six years ago) link
xp sub in "making more than 0.5% on investments" and you're the coolest person not making any money on your investments
― Dat Login was the dname u doofus (Sufjan Grafton), Tuesday, 6 February 2018 17:19 (six years ago) link
xpost loool
you know, in the end it wasn't about money. it was about the people
https://i.imgur.com/Uvtu7uF.jpg
― Karl Malone, Tuesday, 6 February 2018 17:36 (six years ago) link
The real currency was friendship all along.
― I'm very active in the pegasus community (Old Lunch), Tuesday, 6 February 2018 17:45 (six years ago) link
buy low on friendship, because i believe we're in a bull market, my speculative friends
― Karl Malone, Tuesday, 6 February 2018 17:46 (six years ago) link
it's called gambling lads
live a little
― infinity (∞), Tuesday, 6 February 2018 19:05 (six years ago) link
gambling against people with who have millions of dollars and powerful computer programs they are using to break the law
― lag∞n, Tuesday, 6 February 2018 19:45 (six years ago) link
that's not really a gamble
― infinity (∞), Tuesday, 6 February 2018 21:15 (six years ago) link
makes u think
― lag∞n, Tuesday, 6 February 2018 21:17 (six years ago) link
okay mh
― infinity (∞), Tuesday, 6 February 2018 21:21 (six years ago) link
smh everyone biting me
― lag∞n, Tuesday, 6 February 2018 21:26 (six years ago) link
― lag∞n, Tuesday, February 6, 2018 2:45 PM (one hour ago) Bookmark Flag Post Permalink
actually doesn't this describe all gambling
― Fedora Dostoyevsky (man alive), Tuesday, 6 February 2018 21:27 (six years ago) link
no
― Dat Login was the dname u doofus (Sufjan Grafton), Tuesday, 6 February 2018 21:47 (six years ago) link
if you played dice with your friends it wld be neither
― lag∞n, Tuesday, 6 February 2018 21:56 (six years ago) link
likewise if you played blackjack at a casnino it wld be neither
― lag∞n, Tuesday, 6 February 2018 22:00 (six years ago) link
tho tbh they are prob using powerful computer programs to manipulate you psychologically
― lag∞n, Tuesday, 6 February 2018 22:01 (six years ago) link
pogs too lag remember pogs with lil tommy and johnny and louie d
― infinity (∞), Tuesday, 6 February 2018 22:02 (six years ago) link
great gateway gambling platform for kids def
― lag∞n, Tuesday, 6 February 2018 22:06 (six years ago) link
https://i.ytimg.com/vi/pZLD7dqeqkI/hqdefault.jpg
― infinity (∞), Tuesday, 6 February 2018 22:23 (six years ago) link
Addiction by Design by Natasha Dow Schüll is a great book about how casinos make the bulk of their money by exploiting addiction psychology.
― direct to consumer online mattress brand (silby), Tuesday, 6 February 2018 22:24 (six years ago) link
does it have data and replication studies, though
― Dat Login was the dname u doofus (Sufjan Grafton), Tuesday, 6 February 2018 22:34 (six years ago) link
I mean it's an academic monograph by a sociologist, judge it how ye may
― direct to consumer online mattress brand (silby), Tuesday, 6 February 2018 22:49 (six years ago) link
The casino in my town is such a seedy dump, they have good food though
― brimstead, Wednesday, 7 February 2018 00:47 (six years ago) link
This is a real quote --> "Berkeley is the center of the resistance, and for the resistance to work, it must have a coin." https://t.co/pEZvszNe4S— Alex Kantrowitz (@Kantrowitz) February 7, 2018
― mookieproof, Wednesday, 7 February 2018 19:30 (six years ago) link
Anybody have the number for the Franklin Mint?
― I'm very active in the pegasus community (Old Lunch), Wednesday, 7 February 2018 19:32 (six years ago) link
https://www.amazon.com/Theres-Bitcoin-My-Butt-Handsome-ebook/dp/B073NF2Z9G
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Thursday, 8 February 2018 00:09 (six years ago) link
With the economy in free-fall and the government teetering on the verge of collapse, Jort has never been more thankful for the bunker in his back yard. But when Jort is asked what he’s doing with all of his money, the doomsday prepper quickly realizes that he’s not as prepared as he once thought.Now Jort is thrust into the wild world of bitcoin, a decentralized cryptocurrancey that’s in high demand. Hoping to impress one of the attractive open-source coins, Jort schedules a hot date at a fancy restaurant. Now Jort and his handsome bitcoin, Limbo, are discovering that the value of each other’s buttholes are skyrocketing, and the best transaction moving forward is a hardcore anal pounding!This erotic tale is 4,200 words of sizzling human on block-chain based action, including anal, blowjobs, rough sex, cream pies, and sentient digital monetary unit love.
― he facked his death (bizarro gazzara), Thursday, 8 February 2018 07:57 (six years ago) link
holy crapplayed like a goddamn fiddle pic.twitter.com/8IK2NLJjMd— Techpriest Reddus (@R3D_5T4R) February 8, 2018
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 8 February 2018 22:18 (six years ago) link
*bows*
― lag∞n, Thursday, 8 February 2018 22:33 (six years ago) link
https://pbs.twimg.com/media/DKWVQTiW0AU2wSX.jpg
― Dan I., Thursday, 8 February 2018 22:53 (six years ago) link
on the plus side, they got that .txt file
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Friday, 9 February 2018 00:45 (six years ago) link
my old boss was recently profiled in Forbes, lol https://www.forbes.com/sites/laurashin/2018/02/07/anthony-di-iorio-ethereum-ether-crypto-cryptocurrency/#47dbf9675a7b
― Simon H., Friday, 9 February 2018 00:47 (six years ago) link
how much ethereum you got, Simon? you holding out on us?
― mh, Friday, 9 February 2018 02:48 (six years ago) link
And more importantly Simon, were you a patio-door maker or a geothermal driller?
― Le Bateau Ivre, Friday, 9 February 2018 07:58 (six years ago) link
Why can’t he be both
― El Tomboto, Friday, 9 February 2018 12:03 (six years ago) link
He probably is.
― Le Bateau Ivre, Friday, 9 February 2018 12:17 (six years ago) link
neither, I did some treeplanting a few summers back though
― Simon H., Friday, 9 February 2018 12:19 (six years ago) link
also in case it's not clear enough from that brief profile, that guy really sucks
― Simon H., Friday, 9 February 2018 12:21 (six years ago) link
https://www.wsj.com/articles/the-computer-part-people-are-hoarding-i-felt-like-i-was-buying-drugs-1518195876
miners v gamers lol
― 龜, Friday, 9 February 2018 20:12 (six years ago) link
https://i.imgur.com/JnaLdax.png
― lag∞n, Friday, 9 February 2018 20:15 (six years ago) link
So wild: if you visit Salon using an ad blocker, you have two options: disable the ad blocker, or let Salon use your computer to mine bitcoins while you view the site. https://t.co/fmlyXT38oS pic.twitter.com/Ec0SPkiW0e— Tom Gara (@tomgara) February 13, 2018
― mookieproof, Tuesday, 13 February 2018 17:46 (six years ago) link
Choice 3: Never visit Salon.
― Chewshabadoo, Wednesday, 14 February 2018 12:20 (six years ago) link
This video is just savage. #Bitcoin #CryptoCurrency #EthereumSource: https://t.co/pZWdNr7U2u pic.twitter.com/U1mYJbUXPm— Crypto Rand (@crypto_rand) March 4, 2018
― and in my opinionation, the sun is gonna surely shine♪♫ (Karl Malone), Sunday, 4 March 2018 22:16 (six years ago) link
https://www.theguardian.com/technology/2018/mar/20/child-abuse-imagery-bitcoin-blockchain-illegal-content
― had (crüt), Tuesday, 20 March 2018 15:32 (six years ago) link
yea that's been a long time coming
― frogbs, Tuesday, 20 March 2018 15:36 (six years ago) link
if you have a copy of the blockchain you have kiddie porn aaaahhhhh
― lag∞n, Tuesday, 20 March 2018 17:55 (six years ago) link
bitcoin was too pure for this fallen world
― lag∞n, Tuesday, 20 March 2018 18:02 (six years ago) link
https://www.theatlantic.com/photo/2018/04/bitcoin-a-stock-photo-cryptocurrency-primer/557339/
― silverfish, Friday, 6 April 2018 19:01 (six years ago) link
Haha, I don't rlly want to acquire bitcoin but I DO want to collect stock photos of bitcoin
― davey, Friday, 6 April 2018 23:26 (six years ago) link
I support stock photo listicles done reasonably well
― El Tomboto, Saturday, 7 April 2018 00:22 (six years ago) link
https://pbs.twimg.com/media/Das5P0EX4AI8-3I.jpg
― goole, Monday, 16 April 2018 13:21 (six years ago) link
wtf i love bitcoin now
― Mahogany Loggins (bizarro gazzara), Monday, 16 April 2018 13:29 (six years ago) link
Bitcoin is a revolt against fiat [government-backed] money, and an all-meat diet is a revolt against fiat food,” said Michael Goldstein, a “bitcoin and meat maximalist”
https://www.theguardian.com/lifeandstyle/2018/may/11/the-carnivore-diet-all-meat-health-benefits-dangers
― American Fear of Pranksterism (Ed), Friday, 11 May 2018 10:33 (five years ago) link
my all-booze liquid regimen is a revolt against fiat drinks
― Thomas NAGL (Neil S), Friday, 11 May 2018 10:34 (five years ago) link
the sooner these fucking dumbasses kill themselves from red-meat-induced bowel cancer and/or typhoid from drinking 'raw water' the better imo
― Mahogany Loggins (bizarro gazzara), Friday, 11 May 2018 10:41 (five years ago) link
sorry I'm still giggling at this all-meat diet thing
― mh, Friday, 11 May 2018 13:54 (five years ago) link
hope it extends to beverages and that dude is drinking hot ham water with his breakfast steak
― mh, Friday, 11 May 2018 13:55 (five years ago) link
[homer simpson voice} "mmm hot ham water" haha
― sprout god (lag∞n), Friday, 11 May 2018 15:20 (five years ago) link
As a revolt against fiat plasma, I will now inject a megacoagulant directly into my heart.
― Delightful in Microdoses (Old Lunch), Friday, 11 May 2018 15:23 (five years ago) link
Some people are just that guy from Out of Sight who trips and shoots himself with his own gun, and who are we to stand in the way of their destiny.
― Delightful in Microdoses (Old Lunch), Friday, 11 May 2018 15:25 (five years ago) link
The idea is simple: Use only Bitcoin, eat only meat.
OK, I can do this. Use only Bitcoin, eat only meat. Use only Bitcoin, eat only meat. Eat only Bitcoin, use only meat. Eat only Bitcoin, shit, how did it go?
― mick signals, Friday, 11 May 2018 17:25 (five years ago) link
https://imgur.com/Wmpz8mml.png
― mick signals, Friday, 11 May 2018 17:32 (five years ago) link
― how's life, Friday, 11 May 2018 17:42 (five years ago) link
I saw this bitcoin carnivore thing this morning and have been under the impression that it was a Clickhole thing all day
― mfktz (Camaraderie at Arms Length), Friday, 11 May 2018 17:46 (five years ago) link
weird libertarian dad I am fb friends with has been posting about his all-meat diet for the last several weeks. totally would not be surprised if he is also a bitcoiner.
― Fedora Dostoyevsky (man alive), Friday, 11 May 2018 17:59 (five years ago) link
fwiw he claims to have lost significant amounts of weight, but my guess is that's more due to the fact that the diet means not eating a lot of refined carbs and sugars than the meat thing specifically
― Fedora Dostoyevsky (man alive), Friday, 11 May 2018 18:02 (five years ago) link
that + meat is very satiating is how i break it down to an extent
― sprout god (lag∞n), Friday, 11 May 2018 18:04 (five years ago) link
You probably shed a lot of water weight when you have perpetual meat sweats. Plus there's the thing where an all-meat diet is almost certainly slowly killing you.
― Delightful in Microdoses (Old Lunch), Friday, 11 May 2018 18:27 (five years ago) link
xp isn't that essentially how all low carb diets actually work
― ciderpress, Friday, 11 May 2018 18:33 (five years ago) link
the thought of "perpetual meat sweats" is making me feel nauseated
don't these all-meat people probably wreck any restroom they use? just seems like a rude lifestyle
― mh, Friday, 11 May 2018 18:52 (five years ago) link
I'm just picturing like day three of this diet, where you disregard all of the signs your body is giving you and the dread you feel just looking at that hunk of beef on your plate and you dig in anyway, because what is life but a thing you casually discard in a soiled dumpster.
― Delightful in Microdoses (Old Lunch), Friday, 11 May 2018 19:03 (five years ago) link
congrats silicon valley shitheads you have invented the atkins diet sorry i mean you have disrupted the human digestion space
― Mahogany Loggins (bizarro gazzara), Friday, 11 May 2018 19:42 (five years ago) link
― ciderpress, Friday, May 11, 2018 2:33 PM (one hour ago) Bookmark Flag Post Permalink
ya
― sprout god (lag∞n), Friday, 11 May 2018 20:04 (five years ago) link
Environmentally this is the dietary equivalent of coal rolling.
― Fedora Dostoyevsky (man alive), Friday, 11 May 2018 21:14 (five years ago) link
“One bitcoin is always worth one bitcoin, it’s the fiat that’s fluctuating.” - @TimDraper 😂 pic.twitter.com/Y50WMD1SUS— Jason Choi (@mrjasonchoi) June 19, 2018
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 20 June 2018 18:35 (five years ago) link
Just like Theranos stock amirite, the value of the company has stayed the same
― Fedora Dostoyevsky (man alive), Wednesday, 20 June 2018 18:37 (five years ago) link
JUST IN: The @Dodgers will announce today that, on 9/21, they will distribute crypto tokens that will unlock one of three digital player bobbleheads that can be stored in a fan’s Ethereum wallet. Believed to be the first crypto-based giveaway in pro sports. pic.twitter.com/ehkeoHydY0— Darren Rovell (@darrenrovell) September 7, 2018
― sprout god (lag∞n), Friday, 7 September 2018 19:27 (five years ago) link
god i feel sorry for the customer service line at dodger stadium on the day after that giveaway
― Karl Malone, Friday, 7 September 2018 19:38 (five years ago) link
lol right
― sprout god (lag∞n), Friday, 7 September 2018 21:14 (five years ago) link
it’s gonna make the mcdonalds szechuan sauce debacle look like a tea ceremony
― bitch that’s the tubby custard machine (bizarro gazzara), Friday, 7 September 2018 21:25 (five years ago) link
Imagine, if you will, a parenting moment that includes the thought, “My child needs to know more about blockchain!”. pic.twitter.com/FsKS1cz299— Rachel Coldicutt (@rachelcoldicutt) October 17, 2018
― mick signals, Monday, 22 October 2018 17:14 (five years ago) link
JUST IN: Crypto startup @orbs_network has been working with the @realDonaldTrump administration to explore blockchain solutions related to the Israeli–Palestinian conflict. https://t.co/W9lzvRNwqS @La__Cuen reports— CoinDesk (@coindesk) June 27, 2019
― mookieproof, Thursday, 27 June 2019 21:46 (four years ago) link
When I was in college there was this middle aged white-bearded Jewish guy who would always chat with me in the local coffee shop. At some point he started explaining to me that he had a "project" he was working on for Israel-Palestine peace. It involved allowing Palestinian and Israeli teens to play some kind of online virtual soccer together -- keep in mind this was roughly 2001, so it's not like the tech for online multiplayer games was very advanced yet, even if this had otherwise been a valuable or workable idea. I briefly tried to help him (for promised pay) with his "grant proposal" before realizing I had no idea how the fuck to write a grant proposal or how the fuck his project was supposed to work.
― longtime caller, first time listener (man alive), Thursday, 27 June 2019 22:12 (four years ago) link
https://twitter.com/Jake_Hanrahan/status/1163453546592911365
― Captain ACAB (Neil S), Monday, 19 August 2019 14:29 (four years ago) link
http://twitter.com/Jake_Hanrahan/status/1163453546592911365
ho hum
― Captain ACAB (Neil S), Monday, 19 August 2019 14:30 (four years ago) link
I am seeing more and more projects looking to hire Meme Lords and executing meme competitions in their respective communities to get ahead of the competition. I don't think memes have ever been more important in the crypto world from a bizdev perspective.— Frank Chaparro (@fintechfrank) September 14, 2020
― mookieproof, Monday, 14 September 2020 14:42 (three years ago) link
The hallmark of any stable currency.
― Don't be such an idot. (Old Lunch), Monday, 14 September 2020 14:47 (three years ago) link
we are looking to hire a high level meme lord to promote our crypto scam i mean start up
― lag∞n, Monday, 14 September 2020 15:03 (three years ago) link
bizdev
― contorted filbert (harbl), Monday, 14 September 2020 15:10 (three years ago) link
cryptobizdevmemelord
― lag∞n, Monday, 14 September 2020 15:13 (three years ago) link
yo this is incredible https://t.co/dXbOVx7g4B pic.twitter.com/sOFR166jYB— Steadman™ (@AsteadWesley) January 12, 2021
― mookieproof, Tuesday, 12 January 2021 14:57 (three years ago) link
something like 20% of all bitcoin has been lost and at least that much stolen
― lag∞n, Tuesday, 12 January 2021 16:39 (three years ago) link
does anyone know why the price has skyrocketed lately? it's still as inconvenient and unusable as ever...
― frogbs, Tuesday, 12 January 2021 16:42 (three years ago) link
prob the same answer as always market manipulation
― lag∞n, Tuesday, 12 January 2021 16:42 (three years ago) link
but it looks like you can reset your password on an IronKey hard drive via an online account, or maybe this is a newer feature?
― kniphofia face (Sufjan Grafton), Tuesday, 12 January 2021 17:28 (three years ago) link
i bet someone would be willing to figure out how to crack that thing in exchange for, i don't know, $20M of the money
― Karl Malone, Tuesday, 12 January 2021 17:31 (three years ago) link
was thinking the same
― lag∞n, Tuesday, 12 January 2021 17:32 (three years ago) link
Master Codebreaker Kington on the case!
― Jersey Al (Albert R. Broccoli), Tuesday, 12 January 2021 17:36 (three years ago) link
PROTIP: would definitely not recommend "just taking a guess at it" that's almost certainly what i would've already done tho...
― the serious avant-garde universalist right now (forksclovetofu), Tuesday, 12 January 2021 17:38 (three years ago) link
Bitcoin is an environmental crime. The energy required to process a single transaction could power an average US household for over 22 days
https://digiconomist.net/bitcoin-energy-consumption
― American Fear of Scampos (Ed), Wednesday, 10 February 2021 03:19 (three years ago) link
Now Bitcoin overtakes Argentina in annual energy use, and close to Norway pic.twitter.com/Y24pGDbexP— Rory Cellan-Jones (@ruskin147) February 9, 2021
― lag∞n, Wednesday, 10 February 2021 04:12 (three years ago) link
seriously thinking about buying $3500 of dogecoin― action bronson pinchot (sanskrit), Wednesday, January 15, 2014 12:22 PM (seven years ago) bookmarkflaglink
― action bronson pinchot (sanskrit), Wednesday, January 15, 2014 12:22 PM (seven years ago) bookmarkflaglink
👀
― JoeStork, Wednesday, 10 February 2021 04:54 (three years ago) link
retired to the greater dog island
― That's not really my scene (I'm 41) (forksclovetofu), Thursday, 11 February 2021 20:16 (three years ago) link
the fuck is going on
― longtime caller, first time listener (man alive), Friday, 12 February 2021 16:31 (three years ago) link
Jesus Christ, that's insane. It's going to hit $50K isn't it?
― peace, man, Friday, 12 February 2021 16:35 (three years ago) link
clickbait got me: $100 spent in 2010 would be worth 48 million today. this world is stupid.
― That's not really my scene (I'm 41) (forksclovetofu), Friday, 12 February 2021 17:55 (three years ago) link
yeah but you'd have to be the kind of person who bought into some weird shit that basically no one knew about, then watched it increase 1000x and then still hold onto it for some crazy reason.
― longtime caller, first time listener (man alive), Friday, 12 February 2021 18:13 (three years ago) link
yeah pretty much everyone expressing regrets about not buying in earlier would've sold the instant they doubled or tripled their money
no fucking clue what's going on but it feels like there's some insane manipulation going on. feels like how you have these weird punk 7"s that people just randomly decide are worth $600 even though nobody ever buys them
― frogbs, Friday, 12 February 2021 18:17 (three years ago) link
It’s definitely the case that some vicious criminal assholes are on the winning end of whatever is going on.
― Canon in Deez (silby), Friday, 12 February 2021 18:19 (three years ago) link
I want to believe manipulation too, but it's getting increasingly hard for me to believe it's possible at the kinds of volume and market cap we're seeing now. I guess it's still relatively unregulated/unobserved so maybe there's something highly sophisticated going on.
― longtime caller, first time listener (man alive), Friday, 12 February 2021 18:26 (three years ago) link
the volume... is not very high
― lag∞n, Friday, 12 February 2021 18:34 (three years ago) link
It's weird that none of these stories point out that somebody owns 36 billion Dogecoin and with one tweet Elon Musk made that anonymous person a billionaire, and that person could be himself https://t.co/Gm4xNP8N3t https://t.co/vWBqYRIUBr— David Dayen (@ddayen) February 9, 2021
― lag∞n, Friday, 12 February 2021 18:35 (three years ago) link
fwiw it has been found perviously that some bitcoin exchanges were letting big accounts trade for free so the sophistication of the scheme could literally just be selling yourself bitcoin lol, and also the people doing it could be the exchanges themselves, theres also obvs been all sorts of other malarky going on the whole time too tether etc, havent seen anyone theorizing re the nature of the scam this time around tho, but i mightve just unfollowed those people lol
― lag∞n, Friday, 12 February 2021 18:40 (three years ago) link
The tether thing is still a compelling case about why the bitcoin pump has been a complete scam. They got another extension to provide the NYAG with documents that show 1T is backed by 1USD. And that new deadline is in a week or so. But in the meantime they minted one billion tether yesterday and minted like 7 billion last week. So many billionaires sending money to tether's bank in the Bahamas.
― Yerac, Friday, 12 February 2021 18:45 (three years ago) link
But I think they now just need to prove that 1T is backed by 1USD or equivalent, which is easier if you mint tether>unknown wallet>crypto exchange>purchase BTC>unknown wallet>crypto exchange> BTC into USD
― Yerac, Friday, 12 February 2021 18:48 (three years ago) link
― lag∞n, Friday, February 12, 2021 1:34 PM (thirty-six minutes ago) bookmarkflaglink
Bitcoin's latest trading volume was $78,534,285,374 -- as a percentage of market cap that's higher than the volume of a lot of large cap stocks (and it's also huge in absolute terms). Agree it's very possible it could just be dumb shit like back-and-forth wash trades among a small number of accounts or a large number of dummy accounts.
― longtime caller, first time listener (man alive), Friday, 12 February 2021 19:16 (three years ago) link
its higher than the volume of... a single stock
― lag∞n, Friday, 12 February 2021 19:18 (three years ago) link
latest *reported trading volume I should say, I really have little idea how that's calculated or how much if any transparency there is with these exchanges.
― longtime caller, first time listener (man alive), Friday, 12 February 2021 19:18 (three years ago) link
― lag∞n, Friday, February 12, 2021 2:18 PM (twenty seconds ago) bookmarkflaglink
Higher as a percentage of market cap though, i.e. the percentage of bitcoin that trades per day is higher than the percentage of, say, Apple stock that trades per day. Of course, Apple is very clearly widely held and traded among many many holders and trades on a transparent national exchange.
― longtime caller, first time listener (man alive), Friday, 12 February 2021 19:20 (three years ago) link
(i.e. no idea if the latter is actually true for Bitcoin - volume doesn't matter much if it's wash trades)
― longtime caller, first time listener (man alive), Friday, 12 February 2021 19:21 (three years ago) link
anyway im sure at this point in the mania a lot of the trading is legit the manipulators may have already cashed out, or they just step in when necessary who knows, either way i would bet all the bitcion i own, like ten dollars worth a thumb drive somewhere that i forget the password to, that manipulators are in the mix, cause i mean why not you have a dubiously regulated world wide market where all the players are pseudonymous, its like it was invented for crimes
― lag∞n, Friday, 12 February 2021 19:22 (three years ago) link
yeah I think bitcoin is dumb as shit too, I've just never seen a phenomenon quite like this. I have to think it's partly fed money inflating bitcoin just like everything else is getting inflated. Fed engaged in unprecedented bond buying and institutions are just (indirectly) throwing a lot of that on the craps table because nothing productive to spend it on.
― longtime caller, first time listener (man alive), Friday, 12 February 2021 19:25 (three years ago) link
yeah I think bitcoin is dumb as shit too
― longtime caller, first time listener (man alive), Friday, February 12, 2021 2:25 PM (fifteen seconds ago) bookmarkflaglink
i will do you the courtesy of not reviewing your posts itt lol
― lag∞n, Friday, 12 February 2021 19:26 (three years ago) link
the real question is, if someone with $20,000,000 of bitcoin they found on a USB somewhere were to cash out, could they actually get 20 million dollars
― frogbs, Friday, 12 February 2021 19:35 (three years ago) link
at this point it seems like yeah, but not sure at what number it becomes no
― lag∞n, Friday, 12 February 2021 19:38 (three years ago) link
you can see when there are large amounts of crypto being transferred from wallets to exchanges or when stableoins are being minted. Some twitters send out alerts. Whenever tether is being minted, bitcoin pump always follows. When they stop minting, it slowly starts to bleed.
― Yerac, Friday, 12 February 2021 19:42 (three years ago) link
recall ppl talking about that pattern the last time around
― lag∞n, Friday, 12 February 2021 23:59 (three years ago) link
yeah it still happens. people still trade based on it. It's pretty reliable.
― Yerac, Saturday, 13 February 2021 00:02 (three years ago) link
lol normal asset
― lag∞n, Saturday, 13 February 2021 00:03 (three years ago) link
I put $50 in a week ago as a larj. It’s at $73 now. Should I put all my money in it?
― treeship., Saturday, 13 February 2021 00:09 (three years ago) link
only if its as a larj
― lag∞n, Saturday, 13 February 2021 00:12 (three years ago) link
Sorry i slip into norwegian when i’ve had a fewj
― treeship., Saturday, 13 February 2021 00:13 (three years ago) link
treej
― lag∞n, Saturday, 13 February 2021 00:14 (three years ago) link
Its Bi-tulip mania!
https://en.wikipedia.org/wiki/Tulip_mania
― Chewshabadoo, Saturday, 13 February 2021 07:33 (three years ago) link
How we defeat the transhumanist technocracy: -Worship God-Buy bitcoin-Build our own internet (satellites + free speech software)-Build our own bitcoin and silver/gold-backed banks-Build our own digital economy-Exit the existing system— Gab.com (@getongab) February 13, 2021
― lag∞n, Saturday, 13 February 2021 14:35 (three years ago) link
are they moving to mars?
― class project pat (m bison), Saturday, 13 February 2021 14:50 (three years ago) link
papa elon
― lag∞n, Saturday, 13 February 2021 14:53 (three years ago) link
I started listening to the ARK Invest podcast, and some of it is pretty interesting, e.g. when they get into the nuts and bolts of the autonomous vehicle race. But I just listened to the bitcoin one and it was so many layers of bullshit.
My favorite part was when they addressed the common criticism that bitcoin was too volatile, and their spin on that was that "what's great about it is that it's not correlated to other assets." You know what else isn't correlated to other assets? My boogers. That doesn't make them an investment.
― longtime caller, first time listener (man alive), Saturday, 27 February 2021 03:36 (three years ago) link
coming bak to the tether thing. Their last reported mint was Feb 20 for 800mil. The nyag's report and fine came out 3 days later and they haven't minted any tethers since, although there has been a lot of huge transactions overnight and a lot of other stablecoin minting. But if you look at the btc one month chart it sure looks not entirely coincidental.
― Yerac, Saturday, 27 February 2021 03:53 (three years ago) link
I spoke to a couple of the smarter bitcoin enthusiasts I've known, and both of them seem to have settled down and cooled their expectations a lot about it. Crazy that it's still having the run it is -- the stablecoin manipulation theory seems very plausible, it's just a magnitude of manipulation I don't know if the world has ever seen before if so.
― longtime caller, first time listener (man alive), Sunday, 28 February 2021 17:35 (three years ago) link
Like both of these guys were once telling me "bitcoin is the new internet" and now they're like "it's overhyped and there are a lot of scammers out there but blockchain has a few good uses"
― longtime caller, first time listener (man alive), Sunday, 28 February 2021 17:36 (three years ago) link
i mean bitcoin people are super sensitive when you say that tether is a huge scam and it's the main driver of bitcoin pumps... so you know. There is data out there but supposedly it's all FUD, i am not putting in the energy to try to convince people of something so obvious. I just trade around it.
― Yerac, Sunday, 28 February 2021 18:22 (three years ago) link
weird how a super slow expensive distributed database didnt change everything
― lag∞n, Sunday, 28 February 2021 18:23 (three years ago) link
man, this is a fun thread to read back through, lots of gems
― longtime caller, first time listener (man alive), Sunday, 28 February 2021 18:32 (three years ago) link
smarter bitcoin enthusiasts
― Canon in Deez (silby), Sunday, 28 February 2021 19:50 (three years ago) link
Good intro
― sell her Dior (Sufjan Grafton), Sunday, 28 February 2021 20:30 (three years ago) link
― ❏❐❑❒ (gr8080), Wednesday, December 5, 2012 9:28 PM (eight years ago)
posts that aged unexpectedly; that's over a million dollars.
― That's not really my scene (I'm 41) (forksclovetofu), Sunday, 28 February 2021 21:05 (three years ago) link
― signed, J.P. Morgan CEO (Hurting 2), Monday, December 2, 2013 5:54 PM (seven years ago) bookmarkflaglink
― lag∞n, Monday, December 2, 2013 5:56 PM (seven years ago) bookmarkflaglink
― signed, J.P. Morgan CEO (Hurting 2), Monday, December 2, 2013 6:01 PM (seven years ago) bookmarkflaglink
― signed, J.P. Morgan CEO (Hurting 2), Monday, December 2, 2013 6:02 PM (seven years ago) bookmarkflaglink
lol this is one of the guys I'm talking about who now says it's mostly scams and hype but there might be a few good uses for blockchain
― longtime caller, first time listener (man alive), Sunday, 28 February 2021 23:10 (three years ago) link
my brother works in this industry and he says there really aren't any good uses for it...just a bunch of stuff that could be done much more efficiently with other data structures
― frogbs, Sunday, 28 February 2021 23:20 (three years ago) link
Just use Postgres ffs
― Canon in Deez (silby), Monday, 1 March 2021 01:20 (three years ago) link
thats your answer for everything
― lag∞n, Monday, 1 March 2021 17:29 (three years ago) link
It’s usually correct!!
― Canon in Deez (silby), Monday, 1 March 2021 17:46 (three years ago) link
I mean you can’t buy drugs with Postgres but otherwise
i'm sure some database programmers convert money earned with Postrges into drugs
― sell her Dior (Sufjan Grafton), Monday, 1 March 2021 17:51 (three years ago) link
I feel seen.
― Elvis Telecom, Wednesday, 3 March 2021 01:30 (three years ago) link
Another thing I have to think is helping to drive the bitcoin price runup is leverage. My understanding is that there are offshore trading platforms that let you use up to 100x leverage to buy bitcoin. Presumably there's little or no oversight there.
― longtime caller, first time listener (man alive), Thursday, 18 March 2021 17:37 (three years ago) link
https://news.artnet.com/opinion/beeple-everydays-review-1951656some real humdingers in there
― G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Thursday, 18 March 2021 17:41 (three years ago) link
I was just talking with ZS on the NFT thread about how the piece is terrible as a whole -- the mosaic just does not work in the slightest in a visual sense. And also about how some of the individual images were kind of lame, sub-banksy trench commentary. But I hadn't seen a lot of those. Yikes.
― longtime caller, first time listener (man alive), Thursday, 18 March 2021 17:53 (three years ago) link
didn't know we had an NFT thread!
― G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Thursday, 18 March 2021 17:55 (three years ago) link
NFTs
― longtime caller, first time listener (man alive), Thursday, 18 March 2021 17:56 (three years ago) link
u should repost it there
forks, for the benefit of my sanity, even if you like NFTs, please do not like NFTs, please do not
― Zach_TBD (Karl Malone), Thursday, 18 March 2021 18:18 (three years ago) link
but speaking of beeple and all the terrible shit he's made and said (and is now embedded into the 3rd-most value work of art by a living person), what sucks is that a certain kind of artist/audience could acknowledge that past and maybe the "work" would partly be about showing how he used art to move beyond that and not be a total fucking dick whose existence and continuing success serves as perhaps the quintessential example of everything that is wrong with white men. but instead, his current fanbase/supporters/#cryptobros/art fans are like mid-2000s ilxors calling everyone the r-word stuck in a time freeze, never growing past that or taking any criticism at heart
― Zach_TBD (Karl Malone), Thursday, 18 March 2021 18:21 (three years ago) link
that maker "scene", along with the audience and now even the platform/currency they're using, is all fucking bullshit
Lol nft is endtimes shit
― G.A.G.S. (Gophers Against Getting Stuffed) (forksclovetofu), Thursday, 18 March 2021 19:12 (three years ago) link
its higher than the volume of... a single stock― lag∞n, Friday, February 12, 2021 2:18 PM (twenty seconds ago) bookmarkflaglinkHigher as a percentage of market cap though, i.e. the percentage of bitcoin that trades per day is higher than the percentage of, say, Apple stock that trades per day. Of course, Apple is very clearly widely held and traded among many many holders and trades on a transparent national exchange.― longtime caller, first time listener (man alive), Friday, 12 February 2021 19:20 (one month ago) link
― longtime caller, first time listener (man alive), Friday, 12 February 2021 19:20 (one month ago) link
matt levine quoted someone talking about this today, but didnt compare it to stocks -
“Bitcoin is extremely sensitive to increased dollar demand,” the BofA strategists said in a note Wednesday. “We estimate a net inflow into Bitcoin of just $93 million would result in price appreciation of 1%, while the similar figure for gold would be closer to $2 billion or 20 times higher. In contrast, the same analysis for the 20-year-plus Treasuries shows that multibillion money flows do not have a significant impact on price, pointing to the much larger and stable nature of the U.S. Treasuries markets.” ...BofA notes that since about 95% of total Bitcoin is owned by the top 2.4% of addresses with the largest balances, it’s “impractical as a payments mechanism or even as an investment vehicle.”
― just sayin, Thursday, 18 March 2021 22:29 (three years ago) link
this is a good summary of where we're at
Just imagine traveling 10 years back in time and trying to explain this to someone; just imagine what an idiot you’d feel like. “There’s going to be this online currency that people think is a form of digital gold, and then there’s going to be a different online currency that is a parody of the first one based on a meme about a talking Shiba Inu, and that one will have a market capitalization bigger than 80% of the companies in the S&P 500, and its value will fluctuate based on things like who is hosting ‘Saturday Night Live’ and whether people tweet a hashtag about it on the pot-joke holiday, and Bloomberg will write articles and banks will write research notes about those sorts of catalysts, and it will remain a perfectly ridiculous content-free parody even as people properly take it completely seriously because there are billions of dollars at stake.”
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 6 May 2021 17:52 (two years ago) link
i disrespect anyone involved with cryptocurrency
i also hold $2200 worth of XRP now, after stupidly investing $2000 in it a few years ago based on this thread and my complete idiocy, watching it fall to $140, and then back up to $2200 again over the last few months. i'd get rid of it and buy some sort of local-market tv ad making fun of cryptofucks, but i don't want to figure out how to get into my goddamn wallet and con some motherfucker into giving me cash for it
― Zach_TBD (Karl Malone), Thursday, 6 May 2021 17:59 (two years ago) link
of course, my current stance is based upon my overwhelming love for the petrodollar economy, and actually, it's ME who is the asshole
― Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:00 (two years ago) link
there's a mystery ilxor who i follow on twitter (different username/handle, no idea, but a bunch of ilxors follow them) and they talk a lot about cryptocurrency. sorry if i'm dissing that person, they are probably really cool. i suppose this is supposed to lead to some sort of thought path that leads to "i guess they're not ALL cryptofucks", but i'd like to see the number of verified "cool cryptotraders" rise above 0.000001% before going there
― Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:02 (two years ago) link
if anyone makes serious $$ off of this shit the only way they can get into heaven is to devote 110% of the profits to mutual aid
― Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:03 (two years ago) link
who is the mystery crypto ilxor out yourself
― lag∞n, Thursday, 6 May 2021 18:07 (two years ago) link
🤑
― Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:09 (two years ago) link
i am. i love crypto, tweet about it constantly to my thousands of followers.
― John Cooper of Christian rock band Skillet (map), Thursday, 6 May 2021 18:26 (two years ago) link
maaaaaaaaaaaaaaaaaaaaaaaap
― Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:28 (two years ago) link
damn sorry to report matt has been canceled
― lag∞n, Thursday, 6 May 2021 18:42 (two years ago) link
wait
― class project pat (m bison), Thursday, 6 May 2021 18:49 (two years ago) link
hey i'm not canceling anyone but myself. i am over there, in my own little cancel box. playing with real fiat money
― Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:49 (two years ago) link
cancel me dammit
― John Cooper of Christian rock band Skillet (map), Thursday, 6 May 2021 23:01 (two years ago) link
these are the dumbest people alive
https://i.postimg.cc/gJQSFDTS/image.png
― ✖, Saturday, 8 May 2021 04:54 (two years ago) link
Cool stuff. So is everybody as stoked for snl tomorrow night as I am? It's gonna be loltastic! How do I shot dogecoin? haha. get it?
― Fetchboy, Saturday, 8 May 2021 05:23 (two years ago) link
Two months before a $DOGE wallet was created and accumulated over 25% of all DOGE.https://t.co/UpsDDbt3v7 https://t.co/HG3KzyjCPJ— Mindful Capitalist (aka socialist) (@HappiestYogi) May 8, 2021
― lag∞n, Saturday, 8 May 2021 12:34 (two years ago) link
can't believe we're just doing this shit again
― intern at pepe le pew research (Simon H.), Saturday, 8 May 2021 12:39 (two years ago) link
People watching noticed that a bunch of the transactions were in the amount of @elonmusk birthday over and over.There are also 69, 666, 80085 (BOOBs) transactions. pic.twitter.com/AVIZuyPEYJ— Mindful Capitalist (aka socialist) (@HappiestYogi) May 8, 2021
― lag∞n, Saturday, 8 May 2021 13:04 (two years ago) link
80085 (BOOBs)
― ✖, Saturday, 8 May 2021 14:41 (two years ago) link
*yelling* BOOB *whispering* s
― lag∞n, Saturday, 8 May 2021 14:47 (two years ago) link
everyone these days is asking is elon musk pumping and dumping crypto currencies in order to cover for major accounting fraud at tesla— br◎seph (@on3ness) May 8, 2021
two of my friends jokingly gave me 8 dollars a few months ago to invest in Doge when it was at 7 cents.
that 8 bucks is now grown to over $80. what a world.
― Feta Van Cheese (Neanderthal), Saturday, 8 May 2021 15:02 (two years ago) link
you should buy a dog with it
― lag∞n, Saturday, 8 May 2021 15:10 (two years ago) link
How much will it increase in value
― Feta Van Cheese (Neanderthal), Saturday, 8 May 2021 15:44 (two years ago) link
has to be a coin dog
― class project pat (m bison), Saturday, 8 May 2021 16:03 (two years ago) link
the rest are all depreciating assets (everyday closer 2 death)
da blockchain (only good for crimes)
Microsoft is shutting down its Azure Blockchain Service on September 10, six years after initial launch, and no new deployments are being supported as of May 10 (@maryjofoley / ZDNet)https://t.co/c0vy6CCBNyhttps://t.co/ZcLlSLB4at— Techmeme (@Techmeme) May 13, 2021
― lag∞n, Tuesday, 18 May 2021 11:42 (two years ago) link
wild
New @Elliptic analysis of the #DarkSide ransomware:- DarkSide has netted over $90 million in #Bitcoin- The average ransom paid was $1.9 million- The DarkSide affiliates, who infected the target organisations, took $74.7 millionRead more here: https://t.co/sunrKeHaNS— Tom Robinson (@tomrobin) May 18, 2021
― lag∞n, Tuesday, 18 May 2021 12:41 (two years ago) link
Companies that pay that shit gotta get prosecuted you can’t be handing people $2M for owning you
― Clara Lemlich stan account (silby), Tuesday, 18 May 2021 15:16 (two years ago) link
one of my twitter handles is the same as someone on sth called stocktwits, and I get some trading parasite @ing me every week with this $ bullshit
― A viking of frowns, (Camaraderie at Arms Length), Tuesday, 18 May 2021 15:19 (two years ago) link
― Clara Lemlich stan account (silby), Tuesday, May 18, 2021 11:16 AM (six minutes ago) bookmarkflaglink
crazy thing is companies are buying insurance against attack now, or defacto buying insurance via hiring security companies that are themselves carrying insurance, so theyre just like fuck it pay it who cares
― lag∞n, Tuesday, 18 May 2021 15:24 (two years ago) link
How do I invest in the ransomware guys then
― Clara Lemlich stan account (silby), Tuesday, 18 May 2021 15:27 (two years ago) link
that would be a fun game for some finance guy to formulate a derivative or whatever that pays when cyber crime does well
― lag∞n, Tuesday, 18 May 2021 15:31 (two years ago) link
The Big Extort
― Feta Van Cheese (Neanderthal), Tuesday, 18 May 2021 17:18 (two years ago) link
I have a neighbor whose medium-size employer was ransomwared. they all got a week off cuz they literally couldn't work. they brought the FBI in and they said "you just have to pay the ransom". and you all thought Bitcoin wasn't good for anything.
― frogbs, Tuesday, 18 May 2021 17:19 (two years ago) link
there should be a crypto just for paying ransoms and then on a specific day have someone manipulate the market to make them all worthless before they can sell
― Feta Van Cheese (Neanderthal), Tuesday, 18 May 2021 17:21 (two years ago) link
perhaps...a Shitcoin
I learned last week that insurance companies have people who's job it is to negotiate with ransomware companies so that their clients get a better deal on the ransom. Seems like a fun job.
― silverfish, Tuesday, 18 May 2021 18:06 (two years ago) link
hello am i speaking to dark orb 420
― lag∞n, Tuesday, 18 May 2021 18:09 (two years ago) link
yes please hold a minute while I pull up the details of your account
― frogbs, Tuesday, 18 May 2021 18:12 (two years ago) link
can't say i'm happy mel gibson found the work
― If you value Vox, we have an axe (Sufjan Grafton), Tuesday, 18 May 2021 18:22 (two years ago) link
BITCOIN FALLS 24% TO $32,241; ETHEREUM DOWN 38% AT $2,083— *Walter Bloomberg (@DeItaone) May 19, 2021
― lag∞n, Wednesday, 19 May 2021 13:03 (two years ago) link
#NewProfilePic pic.twitter.com/W1UQ4yoQHz— Tom Brady (@TomBrady) May 10, 2021
― lag∞n, Wednesday, 19 May 2021 14:08 (two years ago) link
Let's talk about the Tether scandal, why recent disclosures about it are such a big deal, and why it represents a form of systemic risk for the already shady crypto market. (1/) 🧵— Stephen Diehl (@smdiehl) May 15, 2021
― lag∞n, Wednesday, 19 May 2021 16:02 (two years ago) link
that seems bad
― If you value Vox, we have an axe (Sufjan Grafton), Wednesday, 19 May 2021 16:35 (two years ago) link
the crazy thing is people have been on to the tether scam for years, the thing thats changed is now theres proof that tether wasnt holding the dollars it claimed, but it was obvious all along
― lag∞n, Wednesday, 19 May 2021 16:38 (two years ago) link
I didn’t know about the Tether thing, this is very funny and good.
― Clara Lemlich stan account (silby), Wednesday, 19 May 2021 19:52 (two years ago) link
seeing a lot of poker dudes whining about people making fun of them today as though they didn't spend years saying "have fun being poor" every time someone criticized their stupid imaginary internet money
― frogbs, Wednesday, 19 May 2021 20:03 (two years ago) link
i'm sure it'll be back up to record heights within a year
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 20:05 (two years ago) link
Every bitcoin person is either a huge sucker, a huge asshole, or both.
― longtime caller, first time listener (man alive), Wednesday, 19 May 2021 20:08 (two years ago) link
it's completely wild that the dollar price of bitcoin is mostly based on settlements with "dollars" that are worth $0.03
― Clara Lemlich stan account (silby), Wednesday, 19 May 2021 20:31 (two years ago) link
round up
― lag∞n, Wednesday, 19 May 2021 20:33 (two years ago) link
people have been tracking the timing of issuing new tethers to when the bitcoin price needs to be boosted, various other market manipulations wash trading and so on, its not exactly done out in the open but its obvious and has been all along
― lag∞n, Wednesday, 19 May 2021 20:36 (two years ago) link
iirc some of the people involved in creating tether had a "robbery" at the exchange they were operating that def seemed like it could have been just them stealing bitcoins
― lag∞n, Wednesday, 19 May 2021 20:38 (two years ago) link
the fact that bitcoin is pseudonymous and many of the exchanges operate in jurisdictions with little to no regulation just makes it trivial to wash trade, particularly if you happen to be operating one of the exchanges
― lag∞n, Wednesday, 19 May 2021 20:41 (two years ago) link
― parenthetically yours, (Karl Malone), Wednesday, May 19, 2021 4:05 PM (fifty minutes ago) bookmarkflaglink
i think the end game is it not being worth much, its only real utility is as money for the black market which doesnt require it to be worth a lot, but who knows when that will happen, as to why it will happen greater regulatory scrutiny could take it down or the suckers could get tired of being ripped off by the scammers and then demand just dries up or similarly how scammy it is could come to greater public attention idk
― lag∞n, Wednesday, 19 May 2021 21:03 (two years ago) link
an actual stable coin would be more useful to the black market now that i think about it
brb going to start crime coin
― lag∞n, Wednesday, 19 May 2021 21:10 (two years ago) link
yeah I mean I use it just for poker/sportsbetting purposes, the actual price of a bitcoin doesn't matter to me. it's a hell of a lot easier than trying to move dollars around but definitely harder than it was in the PartyPoker days
― frogbs, Wednesday, 19 May 2021 21:14 (two years ago) link
that said there really is no "end game", I will always believe that bitcoin/blockchain was some semi-brilliant "proof of concept" thing that was never meant to be taken seriously until certain people got their hands on it. fwiw I think the real breakthrough with BTC was the acceptance that this was just never gonna be a 'real' currency and instead was just some wildly fluctuating and easily manipulated asset that's fun to gamble on. that's when it made sense to me. I do still laugh about the days when every coffee shop had "we now accept Bitcoin!" signs which would result in people waiting 15 minutes for their $2 transaction (plus $6 in fees) to go through
― frogbs, Wednesday, 19 May 2021 21:25 (two years ago) link
Other than black market (which I'm not even convinced is a great use), the one use case I see is capital flight - you're not going to give a shit about the inefficiency of blockchain if you're trying to move a million overseas to evade your govt. Still, it seems like to that end there's little reason to hold money in bitcoin or other crypto for very long, just purchase it when you need to move the money.
― longtime caller, first time listener (man alive), Wednesday, 19 May 2021 21:31 (two years ago) link
yeah money laundering/tax avoidance/etc maybe not totally precisely described as black market tho i was thinking of those money crimes too
― lag∞n, Wednesday, 19 May 2021 21:47 (two years ago) link
it is obvs good for buying illicit goods and services too tho, its really the only thing people are using it for now, see frogbs poker/gambling post
― lag∞n, Wednesday, 19 May 2021 21:50 (two years ago) link
just some wildly fluctuating and easily manipulated asset that's fun to gamble on. that's when it made sense to me.
― frogbs, Wednesday, May 19, 2021 5:25 PM (twenty-four minutes ago) bookmarkflaglink
feel like most people who invest in bitcoin dont look at it that way tho, most of them seem pretty serious about it, as people tend to be about their money, are out there predicting bitcion will rule the world
― lag∞n, Wednesday, 19 May 2021 21:52 (two years ago) link
It's always hard to know, especially when you're just dealing with some twitter rando, whether they are a true believer or just think they are "in" on a viral ponzi/MLM scheme and therefore act like a true believer. I always wonder what % of the market cap is driven by the former vs latter.
― longtime caller, first time listener (man alive), Wednesday, 19 May 2021 21:58 (two years ago) link
i think mostly they really believe it, some of the people with a big social media profile might be a different story tho
― lag∞n, Wednesday, 19 May 2021 22:02 (two years ago) link
the whole idea of cyber bucks really excites a certain type of person
― lag∞n, Wednesday, 19 May 2021 22:03 (two years ago) link
ive talked to some of them in real life
― lag∞n, Wednesday, 19 May 2021 22:04 (two years ago) link
i think the end game is it not being worth much, its only real utility is as money for the black market which doesnt require it to be worth a lot
i think that makes sense, but it also assumes that cryptopeople care about its real utility. a bunch of them do, but a bunch of them don't, too. playing the lottery doesn't make any real sense, but somehow the powerball's always at like $234 million anyway. the general concept of a gambling/speculation game that seems to be making some people fabulously wealthy overnight, one that the player has a chance to directly manipulate, and you can do it all while sitting at your computer, and it's anonymous - these are very attractive things to a lot of people, especially all those for whom a single $2,000 ----> $20,000 win would be lifechanging.
if the price of all this stuff goes down and remains at 2015-16 levels, maybe it'll make it a lot less fun/risky for a lot of people and they'll sit out. then again, though, isn't buying at the 2015-16 levels the PERFECT time to invest?? lol
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 22:15 (two years ago) link
q is a totally different thing, and so is literally believing genesis chapters 1-11. but in a way, i think of all these people as going past an Event Horizon of magical thinking, and there is no going back
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 22:17 (two years ago) link
as always, i am cool with whatever dumb shit anyone wants to believe...until it starts hurting other people. and THAT's why i am a colonel in the anticryptoturd alliance
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 22:18 (two years ago) link
the thrill/addiction of gambling mixed with tech industry bullshit and feeling "in the know" and that you've got something over the suckers is a pretty powerful combination
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Wednesday, 19 May 2021 22:19 (two years ago) link
also, the more the current cryptosector goes down in flames, the more inevitable that a Reboot will come soon, a slightly changed version (now with proof of stake to resolve all environmental issues!?) that allows the nu-cryptocult to say "listen, I understand why you were skeptical of the old $shitcoin. we all were. but don't forget - there were a lot of mistakes made during the space race, too. We learn from our mistakes, and we iterate. That's why we're so excited about $Minerva. It's everything that was good about the old system, and none of the bad things. yes....yes......."
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 22:27 (two years ago) link
i think the best utopia/dystopian scenario i can think of would be for some sort of singularity to occur which involves uploading yourself to the internet or whatever. you know charlie bitcoin is going to be the first to upload himself up into the Brazzers.com sector of the collective consciousness. meanwhile, me and my boys will walk peacefully and freely among the abandoned flora and fauna of the world, giving names to all the creatures we meet, but not literally believing in genesis 1-11
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 22:30 (two years ago) link
just to be clear, i don't have any children. i'm just talking about "my boys"
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 22:31 (two years ago) link
xp UMS otm
― parenthetically yours, (Karl Malone), Wednesday, 19 May 2021 22:32 (two years ago) link
― lag∞n, Wednesday, May 19, 2021 2:50 PM (forty minutes ago) bookmarkflaglink
saw some weird image of some chinese dudes sending BTC to hamas and asking them to put the picture of some vtuber on one of their rockets.
― 《Myst1kOblivi0n》 (jim in vancouver), Wednesday, 19 May 2021 22:33 (two years ago) link
that sound good lol
― lag∞n, Thursday, 20 May 2021 14:00 (two years ago) link
pic.twitter.com/76hbvaWosa— Kevin Beaumont (@GossiTheDog) May 20, 2021
🚨 SCOOP (w/@KartikayM): CNA Financial Corp., among the largest insurance companies in the U.S., paid a $40 million ransom in late March to regain control of their network after a ransomware attack. Details will be updated in this story shortly. https://t.co/Qcn6hiesKw— William Turton (@WilliamTurton) May 20, 2021
― lag∞n, Thursday, 20 May 2021 22:19 (two years ago) link
this whole "chia" thing is so funny. it's a shitcoin designed to ruin hard drives. imagine if you got paid to put your car on a kickstand and just floor the engine until it caught on fire. that's what this is https://t.co/qFBYkYmEyj— going beast mode in Joe Biden's replies (@stdlib) May 21, 2021
― lag∞n, Friday, 21 May 2021 01:12 (two years ago) link
https://arstechnica.com/tech-policy/2021/05/private-equity-firm-revives-zombie-fossil-fuel-power-plant-to-mine-bitcoin/
― ergonomic cher (P. Flick), Friday, 21 May 2021 09:41 (two years ago) link
Proof ofStakeIsComing soon so
― Karl Malone, Friday, 21 May 2021 14:37 (two years ago) link
Few bitcoin projects illustrate the cryptocurrency’s enormous climate impact better than the Greenidge power plant in upstate New York. The once-abandoned power plant was bought by private equity firm Atlas Holdings and retasked. A significant portion of Greenidge's electricity no longer powers nearby homes or businesses; rather, the plant's smokestacks are increasingly pouring pollutants into the atmosphere in the service of mining bitcoin.Now, Greenidge is on the verge of ramping up its bitcoin ambitions. By the end of this year, it plans to have 18,000 specialized machines mining bitcoin, and with the recent approval of its data center expansion plans, it will add 10,500 more. When the project is complete, the miners will be using 79 percent of the power plant’s capacity, or 85 MW.
― Karl Malone, Friday, 21 May 2021 14:39 (two years ago) link
Greenidge’s operations aren’t affected by PSC decisions, though. Their mining happens “behind the meter,” meaning it's not affected by grid-level prices. And those operations appear to be fantastically profitable. Between February 2020 and February 2021, the company mined nearly 1,186 bitcoin at a cost of $2,869 per bitcoin. Today, one bitcoin is trading at $57,475.
― Karl Malone, Friday, 21 May 2021 14:41 (two years ago) link
lol this shit is so out there
― lag∞n, Friday, 21 May 2021 14:52 (two years ago) link
as the world explodes, congress will pass HR3104 to require bitcoin miners to register with the SEC or something, the very first legislation on cryptocurrency in the entire universe
― Karl Malone, Friday, 21 May 2021 15:12 (two years ago) link
isn't the federal government supposed to discourage the use of illegitimate tender or somethingthis tends not to end well
― Draymond is "Mr Dumpy" (forksclovetofu), Friday, 21 May 2021 15:15 (two years ago) link
yeah, i don't expect or hope for them to do anything, on anything, at least in the US. and it's a global problem (like climate change) that requires a global solution, so, looooooooool at us
― Karl Malone, Friday, 21 May 2021 15:20 (two years ago) link
Increasingly every time I read something about crypto I can't really think of anything to say/think about it except for "Goddamn, clown fucking world. What a stupid world."
― longtime caller, first time listener (man alive), Friday, 21 May 2021 15:22 (two years ago) link
usa could prob take the crypto ecosystem down via regulation if they felt like it
― lag∞n, Friday, 21 May 2021 15:22 (two years ago) link
and maybe they do idk, takes a while to turn the big ship and so forth
― lag∞n, Friday, 21 May 2021 15:23 (two years ago) link
and if you wait 5 years, the who cryptothing will have even more hooks into everyday life and normal people (defined as "not a cryptofuck"). who knows what it will be. "you can't regulate turdcoin! i shifted 40% of my 401K to it a few years ago and it's up 350% in that time! that turdcoin is paying for my kid's college!"
― Karl Malone, Friday, 21 May 2021 15:23 (two years ago) link
i think crypto is too complicated for the government to address properly. and on top of that, it's complicated and it's tech. fuuuuuuck
― Karl Malone, Friday, 21 May 2021 15:24 (two years ago) link
oh yeah, and one side of the "debate" just made a shit ton of money
holy shit at that Greenridge piece
Did this already get posted? https://cbeci.org/cbeci/comparisons
― rob, Friday, 21 May 2021 15:27 (two years ago) link
the shit that really makes this weird for me is that the entire "value" of crypto is based on the idea of total societal & economic collapse, right? like there's no other use case for it, no real business is gonna accept this shit, and even if their dreams come true and everything goes down the tubes I think they're gonna be in for a rude awakening when they expect to become the "new elites" and find that a currency that 99.99% of the planet has zero of is essentially worthless.
― frogbs, Friday, 21 May 2021 15:29 (two years ago) link
Society collapses yet somehow continues to have really good high speed internet available everywhere
― longtime caller, first time listener (man alive), Friday, 21 May 2021 15:31 (two years ago) link
the entire "value" of crypto is based on the idea of total societal & economic collapse, right?
this is where Q and evangelical white christians come in to support. they all depend on that
― Karl Malone, Friday, 21 May 2021 15:31 (two years ago) link
go, go, go, go!!!
https://i.imgur.com/1zESZlm.png
― Karl Malone, Friday, 21 May 2021 15:33 (two years ago) link
― Karl Malone, Friday, May 21, 2021 11:24 AM (one minute ago) bookmarkflaglink
they already regulate many very complex markets, and crypto schemes wont hold up under that scrutiny, i dont think the tech part particularly matters, i think its mostly a question of whether they care enough to put pressure on global systems to make a lot of the bad stuff hard enough to do that retail investors ie the suckers get out of the game
but thats just the taking care of the investment scamming side, the thing they prob really want to do away with is the ransomware payoffs which they prob cant do anything about, cause youre not going to be able to totally stamp out crypto, someone will prob always be able to run exchanges in pariah/tax haven states, tho idk maybe they could make even that too much trouble
― lag∞n, Friday, 21 May 2021 15:36 (two years ago) link
if you outlaw crypto, only outlaws will have crypto
― longtime caller, first time listener (man alive), Friday, 21 May 2021 15:42 (two years ago) link
in seriousness though, I don't think it's that complicated. If the US really wanted to end (or at least cripple) crypto, they could just ban it. Conduct raids on some high profile owners/traders, seize their computers or whatever. Shut down exchanges. Ban businesses from accepting it. No, it won't completely disappear, yes some of it will move overseas, but it will become untenable for most people to get involved in it.
― longtime caller, first time listener (man alive), Friday, 21 May 2021 15:44 (two years ago) link
I mean, if a government can't ban crypto, someone tell the market, bc people sure seem scared of China right now.
― longtime caller, first time listener (man alive), Friday, 21 May 2021 15:45 (two years ago) link
kinda think they would not do that but it certainly would work
― lag∞n, Friday, 21 May 2021 15:45 (two years ago) link
china would tho lol
― lag∞n, Friday, 21 May 2021 15:46 (two years ago) link
something like that kind of already happened
https://www.bloomberg.com/news/articles/2020-10-01/bitmex-founders-and-executives-are-indicted-in-new-york
― frogbs, Friday, 21 May 2021 15:46 (two years ago) link
yeah i mean theyve been regulating this stuff all long, there are rules that apply to crypto just like anything else, but it doesnt seem like the government has put big effort into the particularities of crypto... yet
― lag∞n, Friday, 21 May 2021 15:48 (two years ago) link
on the other hand, you can just openly buy a fucking power plant right now and then successfully seek permission to expand it, purely for the purpose of mining. meanwhile congress is busy trying to figure out if they're cool with being fascists now
― Karl Malone, Friday, 21 May 2021 15:50 (two years ago) link
but after that, definitely cryptocurrency
― Karl Malone, Friday, 21 May 2021 15:51 (two years ago) link
the usa gov doesnt always do the most important stuff first
― lag∞n, Friday, 21 May 2021 15:53 (two years ago) link
have a feeling there may be a number of very large corporations calling their fairly paid for representatives in government telling them to do something about the crypto right about now, were only hearing about a fraction of ransom wear attacks that have been paid off
― lag∞n, Friday, 21 May 2021 15:55 (two years ago) link
I highly suspect the reason why they arrested the Bitmex guys is not because they thought it was "funding terrorism" or whatever but rather because they don't get a cut
― frogbs, Friday, 21 May 2021 15:56 (two years ago) link
honestly surprised theyve let it go on this long what with its stated intent of democratizing the worlds money
― lag∞n, Friday, 21 May 2021 15:56 (two years ago) link
― frogbs
regulation in this sphere seems like it will go as well as the war on drugs
― Karl Malone, Friday, 21 May 2021 15:57 (two years ago) link
as in, everyone's in on it and profiting, including the govt
― Karl Malone, Friday, 21 May 2021 15:58 (two years ago) link
will be interesting if that goes to a jury trial, cuz there's no way 12 randomly selected people are gonna understand a thing about it
― frogbs, Friday, 21 May 2021 16:10 (two years ago) link
tangentially related to all of this:
Roblox fans are buying digital Gucci bags for thousands of dollars
by the time a kid is old enough to get their first cryptowallet, they will be very accustomed to the idea of spending money that isn't really theirs on things that aren't real
― Karl Malone, Friday, 21 May 2021 16:12 (two years ago) link
Sometimes in federal juries in places like the SDNY you get pretty sophisticated jurors. But it's also a problem of many finance-related jury trials -- I once watched David Boies defend Hank Greenberg (AIG) in a civil lawsuit trial and shit was confusing as hell even for me, and I'm pretty sure that Boies was making it that way on purpose.
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:13 (two years ago) link
honestly, all this is just pushing my inevitable "go to the woods permanently" life outcome up several years. i kind of imagined being a bit older when i did that, but now i think i should be chopping down trees, making siege weapons and using them to destroy buildings with crytpo servers
― Karl Malone, Friday, 21 May 2021 16:13 (two years ago) link
i will become a wood elf
― Karl Malone, Friday, 21 May 2021 16:14 (two years ago) link
I can't stop watching the BTC price fall.
One of the weird things about BTC trading 24 hours is that the % drops are kind of meaningless.
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:15 (two years ago) link
I just want crypto to die so bad. It's a fucking plague.
all i've got is: don't let your friends be cryptofucks. if they do, yell at them and move to the woods with me. there are several open positions on this battering ram we've got going. we need 12 strong people to push this thing into the bitcoin factory
― Karl Malone, Friday, 21 May 2021 16:18 (two years ago) link
I'm more of a bard type
― frogbs, Friday, 21 May 2021 16:19 (two years ago) link
I still very much believe that there's a ceiling on the price of any crypto. IDK where that ceiling is, but there is always only so far that speculative money can take something. You eventually just run out of dumb money.
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:20 (two years ago) link
― longtime caller, first time listener (man alive), Friday, May 21, 2021 12:15 PM (two minutes ago) bookmarkflaglink
i think it will, at least the investing part, scams dont last forever
― lag∞n, Friday, 21 May 2021 16:20 (two years ago) link
Yeah, that's correct, but they can last a really long time, cf Madoff.
then we will see a golden age of gaming where top of the line graphics cards can be had for five dollars
― lag∞n, Friday, 21 May 2021 16:21 (two years ago) link
Also since it's kind of a meta-scam, I wonder how long it can be kept going by rolling money into new sub-scams of the scam (like now we have NFTs)
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:21 (two years ago) link
madoff, a legend in the scam world rip
― lag∞n, Friday, 21 May 2021 16:23 (two years ago) link
the amazing thing about Bitcoin is that apparently literally everyone has made money on it. just like my sportsbetting friends who always text to brag after the game is over
― frogbs, Friday, 21 May 2021 16:23 (two years ago) link
it has generally gone up a shit ton
― lag∞n, Friday, 21 May 2021 16:24 (two years ago) link
Madoff dying was the reason why Bitcoin's been doing so well. now that there's an angel in heaven blessing Ponzi schemes the price can only go up uP UP!!!
― frogbs, Friday, 21 May 2021 16:25 (two years ago) link
btw not sure if i ever told the story on here but i knew a guy who ran a hedge fund, was always talking about his various diversified investments, turns out he was just turning 95% of the money over to madoff lmao
― lag∞n, Friday, 21 May 2021 16:26 (two years ago) link
You eventually just run out of dumb money.
*nature/financial documentary voice*
every year, tens of millions of children turn 18, and the pool of dumb money is replenished
― Karl Malone, Friday, 21 May 2021 16:26 (two years ago) link
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:26 (two years ago) link
seriously, though. not just kids, either. it's anyone out there who has a shit job and doesn't feel like they've ever been remotely compensated for the amount of work they're putting in. that's actually most of the world, i think. look around at any job where it's understood that the workers may be high, and you'll see everyone watching binance even more closely than the prototypical sweaty basement cryptoturd
― Karl Malone, Friday, 21 May 2021 16:30 (two years ago) link
yeah I know, but there is in fact a ceiling on how much of that money there is in aggregate, and that's why bubbles do always eventually deflate.
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:31 (two years ago) link
yeah feel like its little understood how many of the retail investors are working class people buying $100 here or there
― lag∞n, Friday, 21 May 2021 16:31 (two years ago) link
which makes the whole thing especially suck cause theyre the ones who will be left holding the bag
― lag∞n, Friday, 21 May 2021 16:32 (two years ago) link
and also, curiously, those shouting the loudest and managing to somehow out-dogmatize christians, holy shit
reminds me of the tea party patriots
― Karl Malone, Friday, 21 May 2021 16:33 (two years ago) link
anyway, i guess the rational thing is just to stay 1000 feet away from all this and hope that it blows up on itself. but...i can't because i physically feel this shit invading my space and wellbeing! it is a tangible digital horde of fucking morons getting closer to my window each day.
― Karl Malone, Friday, 21 May 2021 16:35 (two years ago) link
Arguably you could spend less time on Twitter and take care of a lot of the problem.
― Clara Lemlich stan account (silby), Friday, 21 May 2021 16:39 (two years ago) link
haa
― lag∞n, Friday, 21 May 2021 16:40 (two years ago) link
i dumped dozens of crypto image speculators (formerly self-described as digital artists) when i got back from becoming a LVL3 wood elf a few weeks ago. that did help!
― Karl Malone, Friday, 21 May 2021 16:41 (two years ago) link
idk what this means but anyway
We've successfully playing the #TSLA classic bubble and dispassionately #Ethereum looks similar. Presently, we are trying to find a low off yellow line or $2k. If we can then break $3580-36k great. But if we fail as #TSLA did @$780-800 that would confirm a bull trap = very bad. https://t.co/FmzdpzVhhB pic.twitter.com/q4GT2HYvwF— Julian Brigden (@JulianMI2) May 21, 2021
― lag∞n, Friday, 21 May 2021 16:44 (two years ago) link
pretty interesting crypto and tesla crashing at the same time
― lag∞n, Friday, 21 May 2021 16:46 (two years ago) link
https://i.imgur.com/9BjTSDO.png
― Karl Malone, Friday, 21 May 2021 16:49 (two years ago) link
one of the best moves
― lag∞n, Friday, 21 May 2021 16:50 (two years ago) link
love when ppl post their bloomberg terminal screencaps it's such a nice little ego boost for them
― Clara Lemlich stan account (silby), Friday, 21 May 2021 16:52 (two years ago) link
mr big terminal
― lag∞n, Friday, 21 May 2021 16:53 (two years ago) link
xpost silby, that gives me an idea for some twitter content for you :)
― Karl Malone, Friday, 21 May 2021 16:54 (two years ago) link
p sure the reason you don't know what all that means is because it doesn't mean anything
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:54 (two years ago) link
idk that guy has a bloomberg terminal
― lag∞n, Friday, 21 May 2021 16:55 (two years ago) link
it's a possible bull trap. but possible bull traps also include a significant possibility of bear traps! don't look at the stock market in the eyes - look at its shoulder(s)
― Karl Malone, Friday, 21 May 2021 16:56 (two years ago) link
wait wait, hold on: "don't look a BEAR market in the eyes - look at its shoulder(s)."
there's my $1M slogan, finally
― Karl Malone, Friday, 21 May 2021 16:57 (two years ago) link
I think it's a possible coyote trap -- coyotes are like bullish bears that may change their minds and become bearish bulls
― longtime caller, first time listener (man alive), Friday, 21 May 2021 16:58 (two years ago) link
l, r; me, crypto currencies
https://i.imgur.com/4Dy2nYj.jpg
― lag∞n, Friday, 21 May 2021 16:58 (two years ago) link
my standard take of late for crypto is SOON THE SUNSPOT WILL COME AND CLEANSE US ALL
― Draymond is "Mr Dumpy" (forksclovetofu), Friday, 21 May 2021 19:54 (two years ago) link
Madoff dying was the reason why Bitcoin's been doing so well. now that there's an angel in heaven blessing Ponzi schemes the price can only go up uP UP!!!― frogbs, Friday, 21 May 2021 16:25 (three hours ago) bookmarkflaglink
― frogbs, Friday, 21 May 2021 16:25 (three hours ago) bookmarkflaglink
Oddly enough, Madoff died the same day as the Coinbase public offering which was also the bitcoin top.
― Yerac, Friday, 21 May 2021 20:27 (two years ago) link
BREAKING: DeFi100 coin exit scams, and runs away with $32 million in investors funds. Website is now updated with the message “We scammed you guys, and you can’t do shit about it” pic.twitter.com/uyeYUDgbwo— Mr. Whale (@CryptoWhale) May 22, 2021
― lag∞n, Saturday, 22 May 2021 16:20 (two years ago) link
#NewProfilePic pic.twitter.com/JrMUkryZuk— Nayib Bukele 🇸🇻 (@nayibbukele) June 6, 2021
― lag∞n, Sunday, 6 June 2021 14:51 (two years ago) link
would we like to see a global crypto contagion folks
I think there are banks that are exposed to crypto in ways far more insidious than anyone talks about.Real currency and secret "commercial" paper has to flow through banks or the whole laundry is pointless.C looks pretty sus— Mindful Capitalist #TeamFiat (@HappiestYogi) June 25, 2021
― lag∞n, Friday, 25 June 2021 14:55 (two years ago) link
crypto is going to end all that shadiness
― davey, Friday, 25 June 2021 15:36 (two years ago) link
crypto fixes that
― lag∞n, Friday, 25 June 2021 15:48 (two years ago) link
it's a relief because man the banking industry is pretty shady
― davey, Friday, 25 June 2021 15:58 (two years ago) link
y'know what, cryptocurrency is so cool i think i'll just make it my whole personality from now on
― davey, Friday, 25 June 2021 16:17 (two years ago) link
can anyone summarize for me why crypto people on social media are having fits right now?
― bezos did the dub (voodoo chili), Tuesday, 10 August 2021 17:56 (two years ago) link
i'm mostly just seeing people dunking on them for being sad, which, fair enough
― bezos did the dub (voodoo chili), Tuesday, 10 August 2021 17:57 (two years ago) link
u.s. senate is discussing regulation of crypto
https://www.bloombergquint.com/politics/outgunned-crypto-lobbyists-falter-in-bid-to-fix-broad-tax-rules
― mookieproof, Tuesday, 10 August 2021 18:11 (two years ago) link
gasp!
― bezos did the dub (voodoo chili), Tuesday, 10 August 2021 18:28 (two years ago) link
1/ Some really sketchy behavior coming out of the SEC recently.Story time…— Brian Armstrong (@brian_armstrong) September 8, 2021
― criminally negligible (harbl), Thursday, 9 September 2021 12:02 (two years ago) link
the thread is not about sketchy behavior by the SEC btw
― criminally negligible (harbl), Thursday, 9 September 2021 12:04 (two years ago) link
5/ They responded by telling us this lend feature is a security. Ok - seems strange, how can lending be a security? So we ask the SEC to help us understand and share their view. We always make an effort to work proactively with regulators, and keep an open mind.— Brian Armstrong (@brian_armstrong) September 8, 2021
Seriously are you an idiot. Try the FIRST PAGE of The Securities Act of 1933. pic.twitter.com/5VxhJpTHPE— John_Hempton (@John_Hempton) September 8, 2021
― criminally negligible (harbl), Thursday, 9 September 2021 12:05 (two years ago) link
lol yeah I saw that thread. you don't even need to read the Exchange Act, it's like "ever heard of a bond?"
also I like that Hempton guy, I read some of his stuff on Greensill/Credit Suisse.
― longtime caller, first time listener (man alive), Thursday, 9 September 2021 14:01 (two years ago) link
*Securities Act, sorry
i was going to say maybe he didn't talk to a lawyer (however much i couldn't believe that) but his chief legal officer has posted more whining on their website. then i was wondering if there has ever been a time when badmouthing a regulator has been a successful strategy. it's one thing to do it defensively ("we are being unfairly targeted by this action" after the action has commenced) but complaining before you've been sued, after *you went to them with your little scam* that "our regulator is suing us and won't tell us why!" doesn't make it less likely that your regulator will sue you, because now you drew a bunch of attention to it and they can't just quietly settle it now. the complaint will explain it better so you can understand it YOU ABSOLUTE DOLT
― criminally negligible (harbl), Thursday, 9 September 2021 14:40 (two years ago) link
exhibit 9 million proving that you have to be stupid to become a bitcoin guy
― criminally negligible (harbl), Thursday, 9 September 2021 14:42 (two years ago) link
its wild that theyre a publicly traded company behaving like this
― lag∞n, Thursday, 9 September 2021 14:51 (two years ago) link
Goddamn, this is so deeply dumb
Coinbase’s Lend program doesn’t qualify as a security — or to use more specific legal terms, it’s not an investment contract or a note. Customers won’t be “investing” in the program, but rather lending the USDC they hold on Coinbase’s platform in connection with their existing relationship. And although Lend customers will earn interest from their participation in the program, we have an obligation to pay this interest regardless of Coinbase’s broader business activities. What’s more, participating customers’ principal is secure and we’re obligated to repay their USDC on request.
― longtime caller, first time listener (man alive), Thursday, 9 September 2021 14:51 (two years ago) link
"this isn't a table, it has four legs supporting a flat surface!"
― longtime caller, first time listener (man alive), Thursday, 9 September 2021 14:52 (two years ago) link
It's not a security because it's not investing in scare quotes
― longtime caller, first time listener (man alive), Thursday, 9 September 2021 14:53 (two years ago) link
its not a security man its a security, man
― lag∞n, Thursday, 9 September 2021 15:06 (two years ago) link
https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether?srnd=premium&sref=SCKvL4TY
Amazing reporting and a bit terrifying tbh
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:03 (two years ago) link
amazing that most of Bitcoin's trillion dollar market cap is based off money which nearly everyone suspects doesn't exist
― frogbs, Monday, 11 October 2021 02:06 (two years ago) link
and that people were calling a fraud from basically the moment it was launched
― lag∞n, Monday, 11 October 2021 02:08 (two years ago) link
Yeah, that's a big part of what I find terrifying about it, that this blatant fraud has been allowed to go on for years in plain sight and to become systemically risky and it doesn't seem like anyone is doing anything about it, or nothing sufficient anyway.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:13 (two years ago) link
the lack of regulation in general around crypto is wild, its a common belief in the culture that obviously illegal things arent illegal because its crypto, but you can see how one might come to that conclusion
― lag∞n, Monday, 11 October 2021 02:18 (two years ago) link
this might be a little challopsy, but I think the feds should have squashed crypto the second it looked like it was getting any traction. When you're a sovereign government, you don't let people tinker with the idea of having a rival currency, just like you don't let people try to have a rival army or a rival police force.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:22 (two years ago) link
yeah they shouldve done something at least
― lag∞n, Monday, 11 October 2021 02:24 (two years ago) link
jfc lmao
https://i.imgur.com/3YQr017.png
― lag∞n, Monday, 11 October 2021 02:25 (two years ago) link
lol I know
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:25 (two years ago) link
This is my favorite part
Then 50, Devasini was almost elderly by cryptobro standards. Property records show he split his time between Milan and Monaco, where his home overlooks the Mediterranean. Pictures show a tall, handsome man with long, curly hair and a scarf wrapped around his neck. He modeled for a photo exhibition at an art gallery in Milan in 2014, appearing in front of a mirror, his face half covered with shaving cream, looking into his own eyes with an expression that suggested he didn’t recognize himself. The show was about turning points, and in an accompanying interview he said that his came in 1992, when he walked away from his career as a plastic surgeon. “All my work seemed like a scam, the exploitation of a whim,” he said.
He got into the low end of the electronics business, founding a series of tech companies that imported memory chips and set-top TV boxes. He started an online shopping site in Italy and licensed a copy protection technology for adult DVDs, according to a press release announcing a special bonus scene in the 2008 film Young Harlots: In Detention.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:28 (two years ago) link
beautiful
― lag∞n, Monday, 11 October 2021 02:30 (two years ago) link
come on!
The only financial institution I could find that was willing to say it’s currently working with the company was Deltec Bank & Trust in the Bahamas. I met the bank’s chairman, Jean Chalopin, in Deltec’s office, on the top floor of a six-story building ringed with palm trees in a nice part of Nassau. In a past life, Chalopin co-created the cartoon Inspector Gadget, and a painting of the 1980s trenchcoat-wearing cyborg policeman hung on his office door.
― lag∞n, Monday, 11 October 2021 02:39 (two years ago) link
I know! I feel a bit numbed to the unreality of reality at this point, but holy shit.
― longtime caller, first time listener (man alive), Monday, 11 October 2021 02:42 (two years ago) link
it's like Pynchon
― longtime caller, first time listener (man alive), Monday, 11 October 2021 03:00 (two years ago) link
― bobo honkin' slobo babe (sic), Monday, 11 October 2021 03:03 (two years ago) link
nothing is real
― typo hell #12: a hundreds of millions of people (Karl Malone), Monday, 11 October 2021 03:57 (two years ago) link
nothing is real but crypto is even less real
― lag∞n, Monday, 11 October 2021 11:59 (two years ago) link
Crypto is so dystopian
https://www.bloomberg.com/opinion/articles/2021-08-27/taxpayers-subsidize-bitcoin-miner-stronghold-digital-s-ipo
Who’s Subsidizing This Bitcoin Miner IPO? You Are.Stronghold Digital gets hefty state credits for burning waste coal, exploiting a Pennsylvania law deeming this to be somehow environmentally friendly.
― longtime caller, first time listener (man alive), Wednesday, 13 October 2021 22:26 (two years ago) link
and watch that ipo take off like a rocket too. Fuck me.
― longtime caller, first time listener (man alive), Wednesday, 13 October 2021 22:27 (two years ago) link
Bitcoin priceOne month ago: $45,250One week ago: $49,300Now: $57,300— The Spectator Index (@spectatorindex) October 13, 2021
― reggae mike love (polyphonic), Wednesday, 13 October 2021 23:11 (two years ago) link
thats a lotta bits baby
― lag∞n, Wednesday, 13 October 2021 23:23 (two years ago) link
jack really able to focus now that hes not at twitter
JUST IN: Square is renaming itself "Block" as it focuses on technologies like blockchain and expands beyond its original credit card reader business. Block will still trade under the ticker $SQ on the Nasdaq.https://t.co/JYSLUjPyfU— CNBC Now (@CNBCnow) December 1, 2021
― lag∞n, Wednesday, 1 December 2021 21:37 (two years ago) link
Inflation at long-term high, bitcoin falling apart. Great hedge.
― longtime caller, first time listener (man alive), Friday, 21 January 2022 16:37 (two years ago) link
. . . the vulnerability was discovered and a "fix was pushed to GitHub a couple weeks ago but not deployed. So the attacker found the exploit by scanning the commits to GitHub."
Incidentally this is sort of a nice metaphor for the fact that an apparently huge source of alpha in crypto consists of:
1. There is a mistake.2. People notice the mistake and try to correct it.3. Because crypto is all open-source and on the blockchain, you can see them trying to correct it.4. Because crypto effectively conducts auctions to decide whose transactions go first, you can jump ahead of them in line and exploit the mistake before they can correct it.
― mookieproof, Thursday, 3 February 2022 22:18 (two years ago) link
lol good stuff
― lag∞n, Thursday, 3 February 2022 22:22 (two years ago) link
Only a small part of this is about bitcoin, but enjoyed listening to Peter Zeihan destroy the ARK dorks (even if I don't know if he's completely right and he's a bit of a douche):
https://podcasts.apple.com/au/podcast/geopolitics-innovation-and-deglobalization-with/id1271691895?i=1000559699112
― longtime caller, first time listener (man alive), Friday, 6 May 2022 13:53 (one year ago) link
Schadenfreude level: moderate. Need it to go down to pre-COVID levels to really get excited.
― longtime caller, first time listener (man alive), Tuesday, 10 May 2022 01:41 (one year ago) link
when your coins are v. stable
https://www.bloomberg.com/opinion/articles/2022-05-10/another-algorithmic-stablecoin-isn-t
― mookieproof, Tuesday, 10 May 2022 21:44 (one year ago) link
now down to 0.47 which is hilarious
― just sayin, Wednesday, 11 May 2022 07:23 (one year ago) link
not so funny reading all the regular ppl who have lost a lot of money
― just sayin, Wednesday, 11 May 2022 08:38 (one year ago) link
https://pbs.twimg.com/media/FSdVTofUcAER44v?format=jpg&name=large
― lag∞n, Wednesday, 11 May 2022 13:05 (one year ago) link
#Luna has fallen below $1 mark.High chances of Terra Luna going to zero.$UST is at 0.30. #cryptocurrency #Cryptocrash #ustdepeg pic.twitter.com/FUlnilbCh9— AltcoinSea.com (@AltcoinSea) May 11, 2022
― lag∞n, Wednesday, 11 May 2022 13:06 (one year ago) link
this is true, but what do you want? for the regular people to make money? on cryptocurrency? for no reason? so they could live on it? just because they "held onto it"? that's what fucking social security used to be for, before it was gutted!
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 13:56 (one year ago) link
regular people should get the fuck out of cryptocurrency. at least with subprime mortgages some people temporarily got a shitty home out of it
it's not funny, it sucks for the people, but for fuck's sake, regular people, stop buying it and trading it and broing the fuck out of it. and for fuck's sake, rich ass people who dominate our world, stop integrating it into everything, stop making crypto icons and inserting them between what two ass cheeks of icons were already there on the app, stop putting it on the fucking sports stadium, stop putting it in space, just everyone on earth the shut the fuck up and turn out the lights
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 13:58 (one year ago) link
regular people can be assholes too, and when they engage in assholish behaviour like investing in crypto...
― corrs unplugged, Wednesday, 11 May 2022 13:58 (one year ago) link
either none of it is funny, or it's ALL funny, because all of this is a giant fucking joke
hehe yes but a sad lol kind of joke
― corrs unplugged, Wednesday, 11 May 2022 13:59 (one year ago) link
this is true, haha
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 14:01 (one year ago) link
a dark humor, about the world
― lag∞n, Wednesday, 11 May 2022 14:11 (one year ago) link
i feel like a drawing in a medieval cartoon, and the village guy with the tall hat has put leeches on me and is preparing a custom brew with a frog leg hanging over the tip of the cup (which is made of shit and mud), and then finally i just let it all out, shit and blood, but also so much crypto
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 14:15 (one year ago) link
and then the dog starts licking it
and then the dog gets rich, for the next 5 years, and can't stop telling everyone about crypto
the dog has a too human face
― lag∞n, Wednesday, 11 May 2022 14:23 (one year ago) link
https://i.imgur.com/YptEifq.jpg
"a bunch of hoomans don't know how to hodl"
― Bruce Stingbean (Karl Malone), Wednesday, 11 May 2022 14:28 (one year ago) link
https://pbs.twimg.com/media/FR_Xp_uXsAAxTHU?format=png&name=small
― lag∞n, Wednesday, 11 May 2022 14:31 (one year ago) link
Probably the most retarded thread ive read this decade.Silence is a perfectly acceptable option if stupid.Billionaires in my following, go ahead, see what happens https://t.co/wtt9OhX4kg— Do Kwon 🌕 (@stablekwon) November 28, 2021
― lag∞n, Wednesday, 11 May 2022 15:10 (one year ago) link
went up a bit and then back down during the time i was on a teams with a guy from the co op talking thru what shd go in my will (unrelated, 1 hr max)
― mark s, Wednesday, 11 May 2022 15:34 (one year ago) link
lol hate server issues
High system and blockchain load today. Binance P2P trading had a server issue, and is in maintenance mode. Our team is on it. Should recover in 30-60 min. All other systems (spot & futures) are fine.— CZ 🔶 Binance (@cz_binance) May 11, 2022
― lag∞n, Wednesday, 11 May 2022 15:36 (one year ago) link
― mookieproof, Tuesday, May 10, 2022 5:44 PM (yesterday) bookmarkflaglink
good overview of this weird shit for interested readers
― lag∞n, Wednesday, 11 May 2022 15:48 (one year ago) link
Well at least one guy made out pic.twitter.com/22O0iatayr— warrior cop (@wyatt_privilege) May 11, 2022
― lag∞n, Wednesday, 11 May 2022 21:22 (one year ago) link
/r/terraluna/ has suicide hotlines pinned at the top.
― Elvis Telecom, Wednesday, 11 May 2022 22:45 (one year ago) link
here we go, here we fucken go, let's ride this one all the way to hell
https://coinmarketcap.com/currencies/tether/
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 12 May 2022 06:00 (one year ago) link
tbf though, a lot of these shitcoins are doing better than mid cap tech stocks (palantir, lyft, snowflake, shopify, peleton, etc.)
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 12 May 2022 06:08 (one year ago) link
suicide and political radicalization via collapse of a pseudobanking system is not funny, but this. this is extremely funny.
Eric Adams recieved his first paycheck of $5,900 dollars. Since then, Bitcoin fell by 55%, meaning his paycheck is now worth $2,655.However, since he pays taxes on 45% on his original $5900 paycheck, his first paycheck was a grand total of…Negative 600 bucks— Lucas 🧡 (@LucasOfSunshine) May 11, 2022
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 12 May 2022 06:12 (one year ago) link
― lag∞n, Thursday, 12 May 2022 12:23 (one year ago) link
Coinbase is struggling too, according to this Guardian article (see the last few paras):
https://www.theguardian.com/technology/2022/may/12/stablecoin-tether-breaks-dollar-peg-cryptocurrencies
Is total system collapse a real possibility?
― Critique of the Goth Programme (Neil S), Thursday, 12 May 2022 12:26 (one year ago) link
imho thats always been the most likely outcome
― lag∞n, Thursday, 12 May 2022 12:30 (one year ago) link
i mean its all totally fake and insanely fraudulent
the big push to get more retail investors involved with all those tv commercials and whatnot is clearly the end stage theres not anyone else deposit money into the system after them
― lag∞n, Thursday, 12 May 2022 13:00 (one year ago) link
is there any update on this lagoon
― towards fungal computer (harbl), Thursday, 12 May 2022 13:02 (one year ago) link
lol soon
― lag∞n, Thursday, 12 May 2022 13:05 (one year ago) link
the vast majority of crypto is owned by whales and while they can keep the numbers up via doing illegal things like wash trading they do eventually need real people to cash them out, once those people stop coming around what is even the point of it all
https://i.imgur.com/F3vs7Jt.png
― mark s, Thursday, 12 May 2022 13:21 (one year ago) link
this is the same argument every pyramid scheme/MLM uses to keep people in
"If only I bought bitcoin in 2011, I would be so rich."No, you likely wouldn't be. You would've probably sold early because you were scared, just like you probably are today.Holding through multiple 80% corrections takes an insane level of conviction and mental fortitude. pic.twitter.com/AisQ3PDdBd— Dylan LeClair 🟠 (@DylanLeClair_) May 6, 2022
― towards fungal computer (harbl), Thursday, 12 May 2022 13:50 (one year ago) link
I find it hard to amass sympathy for these assholes but I feel like a lot of the citizens of El Salvador are gonna be unnecessarily suffering because of this and that really sucks
― frogbs, Thursday, 12 May 2022 13:51 (one year ago) link
yeah a lot of people are going to get hurt over this wouldve been better if no one ever made a bitcoin
― lag∞n, Thursday, 12 May 2022 14:06 (one year ago) link
https://i.imgur.com/7C8apab.jpg
― frogbs, Thursday, 12 May 2022 14:26 (one year ago) link
terra luna down 99.99% on a week ago and 99.9ish down on the opening today
does it just dribble to zero or will it suddenly go all at once?
― mark s, Thursday, 12 May 2022 14:33 (one year ago) link
lmao as an online poker player I know what this means
https://t.co/AZwoBOgsqS will perform scheduled maintenance for 17 networks and temporarily suspend deposits & withdrawals.Learn more: https://t.co/xMrlyzj8xs pic.twitter.com/hOAIUA37V9— Binance.US 🇺🇸 (@BinanceUS) May 12, 2022
― frogbs, Thursday, 12 May 2022 14:43 (one year ago) link
― lag∞n, Thursday, 12 May 2022 14:46 (one year ago) link
I think all of the crypto should be converted to commemorative tshirts and other physical items that everyone can keep long after the crypto has died mutated into an even more hideous form that no one here is even thinking about
― Bruce Stingbean (Karl Malone), Thursday, 12 May 2022 14:51 (one year ago) link
Too many cryptofucks were obsessed with transformers and power rangers. They are going to link up the crypto crew to its final form and emerge out of the ocean to destroy Tokyo
― Bruce Stingbean (Karl Malone), Thursday, 12 May 2022 14:52 (one year ago) link
frogsbs, can you explain the poker thing?
― peace, man, Thursday, 12 May 2022 14:55 (one year ago) link
generally when less reputable sites perform "scheduled maintenance" amongst rumors they may be becoming insolvent there's a good chance they aren't coming back up
― frogbs, Thursday, 12 May 2022 15:17 (one year ago) link
Gotcha, I figured something like that. lol.
― peace, man, Thursday, 12 May 2022 15:20 (one year ago) link
yeah iirc during the infamous "Black Friday" where the FBI nabbed a bunch of the big sites the official word was "this is just scheduled maintenance"
― frogbs, Thursday, 12 May 2022 15:25 (one year ago) link
unscheduled obsolescence
― Bruce Stingbean (Karl Malone), Thursday, 12 May 2022 15:26 (one year ago) link
gdamn when they gonna bring back legal online poker and restock da fish
― lag∞n, Thursday, 12 May 2022 15:33 (one year ago) link
Ignition/Bovada has been pretty good over the last couple years, I'm actually a little concerned that a lot of that was crypto money
― frogbs, Thursday, 12 May 2022 15:39 (one year ago) link
yeah i still have an ignition account actually had an insane run there like five years ago but havent played much since, its still not the same tho we need another poker boom
― lag∞n, Thursday, 12 May 2022 15:46 (one year ago) link
how about online poker but it's that one game where you put your knuckles flat on the table and then the other side slides a quarter toward the other player's knuckles as fast as possible, and the winner is whoever plays the longest
― Bruce Stingbean (Karl Malone), Thursday, 12 May 2022 15:57 (one year ago) link
feel like legalization is coming eventually, it's so insane that half the commercials you see during a sports broadcast now are for Fanduel or whatever while online poker is still in this weird limbo
for me the trick to Ignition is getting off the Zone tables and onto the regular ones, Zone is pretty reg infested and even when you do spot a fish you don't know when they're at your table again. the regular tables on the other hand get pretty insane, even when you're not playing peak hours
― frogbs, Thursday, 12 May 2022 15:58 (one year ago) link
xpi don't know why i said that
i played online poker for a week and lost all $100
― Bruce Stingbean (Karl Malone), Thursday, 12 May 2022 15:58 (one year ago) link
it's so insane that half the commercials you see during a sports broadcast now are for Fanduel or whatever while online poker is still in this weird limbo
yeah - some of the players are now getting endorsement deals with the betting companies. kinda completely weird, but maybe pete rose will get into the hall of fame now
― Bruce Stingbean (Karl Malone), Thursday, 12 May 2022 15:59 (one year ago) link
RIP Crypto.com Staples Centre, we hardly knew you
a perfect metaphor for the death of crypto pic.twitter.com/0VhYPfXoRF— 𝐒𝐚𝐬𝐡𝐚🔪 (@tinywienerbabe) May 11, 2022
― Critique of the Goth Programme (Neil S), Thursday, 12 May 2022 17:29 (one year ago) link
rip big man
The Terra blockchain was officially halted at a block height of 7603700.https://t.co/squ5MZ5VDKTerra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) May 12, 2022
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 12 May 2022 17:35 (one year ago) link
xp: wish that was real.
― peace, man, Thursday, 12 May 2022 18:07 (one year ago) link
astonishing graph. this stuff made it all the way to $90 and is now worth literally a penny
https://i.imgur.com/mUvT7LD.png
― frogbs, Thursday, 12 May 2022 18:57 (one year ago) link
I know it’s uncharitable of me but: have fun being poor, crypto fucks.
― DAMAGED by Black Flat (Boring, Maryland), Thursday, 12 May 2022 18:58 (one year ago) link
I mean under some theories of value it was always worth literally a penny
― Guayaquil (eephus!), Thursday, 12 May 2022 19:03 (one year ago) link
https://i.imgur.com/hQi29bn.png
― frogbs, Thursday, 12 May 2022 19:28 (one year ago) link
buy the dip.
― peace, man, Thursday, 12 May 2022 19:37 (one year ago) link
https://www.afr.com/wealth/personal-finance/the-great-crypto-ponzi-scheme-finally-crashes-20220513-p5al0q
Paywalled, but I had success with refresh then stop loading page in Firefox.
― Peter Greenaway's Fleetwood Mac (S-), Friday, 13 May 2022 12:03 (one year ago) link
According to credible Korean news site Money Today, Do @stablekwon requested to police for emergency protection as investors have been visiting his house. https://t.co/3rUsjUBGCp— Doo | StableNode @GoblinTown (@DooWanNam) May 13, 2022
― mark s, Friday, 13 May 2022 14:37 (one year ago) link
pretend money leads to real life mob
― lag∞n, Friday, 13 May 2022 14:39 (one year ago) link
Crypto is not pretend! Don't you get it? It is going to make transactions faster! Just you wait and see, mister.
― peace, man, Friday, 13 May 2022 14:56 (one year ago) link
i mean all money is pretend
this pretend money is also unregulated
(laws are also made up)
― mark s, Friday, 13 May 2022 14:59 (one year ago) link
money has an army
― lag∞n, Friday, 13 May 2022 15:01 (one year ago) link
thats right
― mark s, Friday, 13 May 2022 15:03 (one year ago) link
Yeah, but people without no money have a free Twitter account
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 15:04 (one year ago) link
I think the one, single prognostication I ever had was in grad school, and a seminar was working with an old emeritus prof on a book he was writing about how the internet was going to be a great boon for democracy. This was just before Arab spring, etc. The smart thing that I did was when we went around the table I said “nooooooooooooooooooo!”
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 15:06 (one year ago) link
― lag∞n, Friday, 13 May 2022 15:07 (one year ago) link
of course the real big story no-one is talking about here is how this is going to have a serious impact on Crawley FC. They are going to become the first UK league club since the days of horses and carts to pay their playing staff in units of less than a penny.
― calzino, Friday, 13 May 2022 15:14 (one year ago) link
the one, single prognosticationMeant to thrown the word “accurate “ in there because I have been completely wrong thousands of times. And even on this one, I’m sure the Internet will start doing unbelievable things for democracy soon and even Nelson’s “ha-ha!” will be a little brighter and more supportive than it was before
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 15:21 (one year ago) link
here's that one stock everyone's talking about, the one where if you own it you're actually a giant fucking asshole, regardless of the price:
https://i.imgur.com/U86RNkv.png
it's back at 14 cents. so...if you bought it at less than a cent, or wherever it was a few hours ago, and you sold it now, at 14 cents, if you can find another sucker to buy low, wouldn't you be making a 1400% profit? or am i misunderstanding how the entire thing works
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 16:11 (one year ago) link
the one where if you own it you're actually a giant fucking asshole
that would be buttcoin i imagine
― Guayaquil (eephus!), Friday, 13 May 2022 16:24 (one year ago) link
could you say what it is instead of trying to make people guess?
― peace, man, Friday, 13 May 2022 16:26 (one year ago) link
Terra (UST) the one that has been in the news for collapsing
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 16:40 (one year ago) link
oh shit, that was another terra. the luna one is, indeed, dead as a doornail!
https://coinmarketcap.com/currencies/terra-luna/
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 16:44 (one year ago) link
they are kinda connected
On Terra’s own blockchain, UST has a symbiotic relationship with its satellite asset luna, which can be used to earn cryptocurrency rewards. It was always possible to exchange UST for luna and vice versa, and the blockchain’s own code always made sure that terra traded at a dollar a unit, while luna’s varying price was determined by algorithms keeping an eye on the market.That was supposed to keep its price stable by piggybacking on the work of arbitragers, investors who attempt to profit from market inefficiencies. If a sell-off of UST on cryptocurrency exchanges threatened to lower its price below $1, the idea was that smart arbitragers would rush to buy UST, and use them on its native blockchain to buy luna at a discount—propping up UST’s price in the process.If the opposite happened and UST’s price zoomed over $1 on crypto marketplaces, people would use their lunas to buy one-dollar-a-unit USTs on Terra’s blockchain and resell them on other platforms, bringing the price of UST down. It is a clever architecture. It is also one that did not and could not work. “It is a bit like perpetual motion machines. People wanted to figure out how to get free energy. And these designs were complicated—they would have pulleys, they would have magnets, they would have levers,” Muci says. “With algorithmic stable coins, it's a little bit the same idea.”
That was supposed to keep its price stable by piggybacking on the work of arbitragers, investors who attempt to profit from market inefficiencies. If a sell-off of UST on cryptocurrency exchanges threatened to lower its price below $1, the idea was that smart arbitragers would rush to buy UST, and use them on its native blockchain to buy luna at a discount—propping up UST’s price in the process.
If the opposite happened and UST’s price zoomed over $1 on crypto marketplaces, people would use their lunas to buy one-dollar-a-unit USTs on Terra’s blockchain and resell them on other platforms, bringing the price of UST down. It is a clever architecture. It is also one that did not and could not work. “It is a bit like perpetual motion machines. People wanted to figure out how to get free energy. And these designs were complicated—they would have pulleys, they would have magnets, they would have levers,” Muci says. “With algorithmic stable coins, it's a little bit the same idea.”
https://www.wired.co.uk/article/terra-luna-collapse
― mark s, Friday, 13 May 2022 17:00 (one year ago) link
that Financial review article was really good
― corrs unplugged, Saturday, 14 May 2022 07:49 (one year ago) link
there’s a youtube video called “line goes up” that people say is good but it’s 2hrs long; tldw
― Tracer Hand, Saturday, 14 May 2022 10:20 (one year ago) link
it's great, I've watched it twice!
― buffalo tomozzarella (ledge), Saturday, 14 May 2022 10:23 (one year ago) link
I often wonder "how long do bubbles take to burst," and the answer ALWAYS seems to be "just a few months past when I get exhausted by waiting and stop giving a shit."
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:14 (one year ago) link
I feel a lot of conflicted emotions over the whole "regular people are getting screwed" "but a lot of them are those assholes" thing.
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:16 (one year ago) link
I just talked a friend out of investing in a "defi" crypto-lending thing she sent me info about. I was like "can you explain to me what this actually is or how it works?" and she couldn't, so I said to please not invest in something she couldn't understand. And this was an educated person who actually understands investments pretty well, so I guess anyone can be vulnerable to it.
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:17 (one year ago) link
Like a few weeks ago, right before the crash
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:18 (one year ago) link
does ilx have a character limit per post now?
― Yerac, Saturday, 14 May 2022 21:03 (one year ago) link
depends
― Society for the Preservation of (cat), Sunday, 15 May 2022 01:32 (one year ago) link
on
the
strength
― Society for the Preservation of (cat), Sunday, 15 May 2022 01:33 (one year ago) link
of
characters
(sorry)
(crypto sucks btw)
― Society for the Preservation of (cat), Sunday, 15 May 2022 01:34 (one year ago) link
i tried watching line goes up again and i don’t understand how anybody handles that rapid-fire singsong youtube explainer voice for more than 5 minutes at a time, it’s completely unbearable to me
― Tracer Hand, Sunday, 15 May 2022 08:39 (one year ago) link
So far, there are no indications that Mr. Bukele plans to change course. On Monday, he said on Twitter that El Salvador bought 500 bitcoin at an average price of $30,744. “El Salvador just bought the dip!” he added. Bitcoin traded at $29,745 on Friday.
what’s that word for when something is funny yet also incredibly horrible
― Society for the Preservation of (cat), Sunday, 15 May 2022 12:03 (one year ago) link
tragicomic or sad lol
― lag∞n, Sunday, 15 May 2022 12:20 (one year ago) link
there is so much that is bad about that guy that i can't even lol at him
― towards fungal computer (harbl), Sunday, 15 May 2022 13:15 (one year ago) link
Miami's mayor-backed MiamiCoin https://t.co/BfyteN1oTt— Nathan Bernhardt (@jonbernhardt) May 16, 2022
― lag∞n, Monday, 16 May 2022 16:24 (one year ago) link
CZ admits Binance lost $1.6 billion due to Terra collapse in bizarre tweet threadsMay 16, 2022https://t.co/hQqBytHWbp pic.twitter.com/duDc2YXTr2— web3 is going just great (@web3isgreat) May 16, 2022
1/ Statement analysis is one of those "soft skills" that is important in life. It served me well as an FBI Agent, and continues to inform how I make decisions. Some friends highlighted a thread recently which made my antenna go up. BLUF: I'm not accusing anyone of a crime, but... pic.twitter.com/HRf2vPBwdN— James Harris (@jimeharrisjr) May 16, 2022
― lag∞n, Monday, 16 May 2022 16:40 (one year ago) link
looking forward to the Netflix show where "James Harris"'s own sanity is pushed to the edge while analyzing the tweets of bitcoin sociopaths for the fbi
― Michael Flatley's (Sufjan Grafton), Monday, 16 May 2022 16:56 (one year ago) link
"sus"
14/ "Oh, I remember that night—I was on the internet all night. I have dial-up internet service, so I'm sure [my ISP] logs will confirm that."Asserting you don't know something bad, but then suggesting it's true—and then suddenly remembering who might have evidence is "sus."— James Harris (@jimeharrisjr) May 16, 2022
― towards fungal computer (harbl), Monday, 16 May 2022 17:00 (one year ago) link
Doesn’t seem great
#Terra_Luna $UST $LUNAIt appears an inside job was allowed to be carried forth to bail out a whales all while the retail bag holders got incinerated. 🔥Massive class-action / criminal proceedings possible with this. 👇https://t.co/M3OCNGxB0D pic.twitter.com/qP3XvNQQSd— Paolo the Parrot 🦜 (@realPaulSantos) May 16, 2022
― gyac, Monday, 16 May 2022 17:41 (one year ago) link
I would love to see these cyrpto fucks put through the ringer courtesy of an old SDNY judge with an aol email address and the FRCP. And if it's bankruptcy, the trustee would be able to claw those transactions back, no?
― gonna make you sweat the technique, gonna make you groove is in the heart (PBKR), Monday, 16 May 2022 17:58 (one year ago) link
those exchanges and the whales they cashed out are one in the same you gotta think
― lag∞n, Monday, 16 May 2022 18:03 (one year ago) link
https://www.washingtonpost.com/business/2022/05/18/fbi-eminifx-crypto-pyramid-scam/
The Washington Post personal finance columnist wrote an article listing the similarities between recent cryptocurrency offerings and classic Ponzi/pyramid schemes.
The web service that feeds advertising to washingtonpost.com inserted ads for Unicoin, "A new-generation cryptocurrency."
― Infanta Terrible (j.lu), Wednesday, 18 May 2022 17:06 (one year ago) link
Unfortunately due to a vastly uneven ratio of men to women who signed up for our waitlist, we have decided to put the BAYC dating app on hold indefinitely.Too many bros!We sincerely appreciate your interest and support.https://t.co/PozZOCph0y— y4k (@y4kxyz) May 12, 2022
― lag∞n, Wednesday, 18 May 2022 20:31 (one year ago) link
getting close to that 2018 high baby
https://i.imgur.com/IthkTfD.png
― lag∞n, Monday, 13 June 2022 12:53 (one year ago) link
lol. Last time I had looked it had just dipped below $30K.
― peace, man, Monday, 13 June 2022 13:11 (one year ago) link
Every. Time. I. Look. It. Just. Keeps. Getting. Better.
― longtime caller, first time listener (man alive), Monday, 13 June 2022 13:30 (one year ago) link
not only schadenfreude either, thinking a lot about all the emissions to be saved when it falls below the cost to mine
― longtime caller, first time listener (man alive), Monday, 13 June 2022 13:38 (one year ago) link
JUST IN - Binance, one of the largest crypto exchanges in the world, temporarily halts #Bitcoin withdrawals.CEO says they are "fixing an issue."— Disclose.tv (@disclosetv) June 13, 2022
Bitcoin price plummets below $25K following Celsius freeze https://t.co/zxKYrCWbvp pic.twitter.com/HLRWF54GTr— The Verge (@verge) June 13, 2022
freezing out there
― lag∞n, Monday, 13 June 2022 13:57 (one year ago) link
down another thousand
22,893.80USD−3,661.20 (13.79%)today
― lag∞n, Monday, 13 June 2022 15:36 (one year ago) link
funds are safu baby dont worry
Temporary pause of $BTC withdrawals on #Binance due to a stuck transaction causing a backlog. Should be fixed in ~30 minutes. Will update.Funds are SAFU.— CZ 🔶 Binance (@cz_binance) June 13, 2022
― lag∞n, Monday, 13 June 2022 15:37 (one year ago) link
well that’s reassuring
― Tracer Hand, Monday, 13 June 2022 15:38 (one year ago) link
safe as fuuuuuuuuuuuuck
― Lavator Shemmelpennick, Monday, 13 June 2022 15:38 (one year ago) link
Funny how when these things collapse there are “technical issues” about withdrawing your money all of a sudden.
― Antifa Sandwich Artist (Boring, Maryland), Monday, 13 June 2022 16:11 (one year ago) link
inevitably someone examines the logs and the exchange will have done some shady shit during the downtime
― lag∞n, Monday, 13 June 2022 16:13 (one year ago) link
hey everyone, we're just going to turn off the lights for a minute here!
~rustling noises in the dark~
― Bruce Stingbean (Karl Malone), Monday, 13 June 2022 16:15 (one year ago) link
everyone calm down, it’s possible that this is just the bank experiencing a liquidity crisis pic.twitter.com/MFqODE2TJP— warrior cop (@wyatt_privilege) June 13, 2022
― lag∞n, Monday, 13 June 2022 16:17 (one year ago) link
I’m going to buy eth when it hits 5 bucks.
― Jeff, Monday, 13 June 2022 16:38 (one year ago) link
where does this end up, fundamentally crypto should be worth nothing or just pennies because it has no utility outside black market transactions which dont require it to be worth more than pennies, but there are people who own a lot of crypto who are willing to pump it in order to dump it, however you do need suckers to dump it on, so crytpo will go to ~0 once all the suckers are used up, when will all the suckers be used up, i guess once crypto is universally seen as a scam, not sure how close to that we are, maybe pretty close idk kinda depends on if the pumpers can stabilize and reinflate the market soon, if it just keeps going down losing 95% of its value and so forth kinda think its over
― lag∞n, Monday, 13 June 2022 17:06 (one year ago) link
uh so i saw the winklevoss twins' band? tonight? like, it's really them pic.twitter.com/xVqYwQrztL— Arch Nem (@arch_nem) June 10, 2022
― lag∞n, Monday, 13 June 2022 18:37 (one year ago) link
💀
― the cat needs to start paying for its own cbd (map), Monday, 13 June 2022 18:46 (one year ago) link
The best band money can buy
― Bruce Stingbean (Karl Malone), Monday, 13 June 2022 18:48 (one year ago) link
winklevoss twins covering Rage i’m actually losing my mind pic.twitter.com/wVvIEqDLxR— connor scully (@Sculliosis) June 11, 2022
― the cat needs to start paying for its own cbd (map), Monday, 13 June 2022 21:59 (one year ago) link
why hasn’t anyone eaten the rich yet
― (ʇɐɔ) o (cat), Monday, 13 June 2022 22:07 (one year ago) link
too skinny
― lag∞n, Monday, 13 June 2022 22:08 (one year ago) link
like everyone says “eat the rich” and we all agree the rich must be eaten but somebody needs to just pick up the knife & fork and go at it already
― (ʇɐɔ) o (cat), Monday, 13 June 2022 22:09 (one year ago) link
not it
would much rather use the rich to keep my hearth burning through the winters i will be living through in a mud-straw shelter in 2042 tbh
― the cat needs to start paying for its own cbd (map), Monday, 13 June 2022 22:15 (one year ago) link
let us use every single part of the rich, leaving none to waste
― Bruce Stingbean (Karl Malone), Monday, 13 June 2022 22:16 (one year ago) link
Everything but the squeal.
― immodesty blaise (jimbeaux), Monday, 13 June 2022 22:33 (one year ago) link
Heading below 20k now?
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 01:45 (one year ago) link
to the ground *rocket pointing down emoji*
― lag∞n, Tuesday, 14 June 2022 01:50 (one year ago) link
https://i.gifer.com/AFaF.gif
― longtime caller, first time listener (man alive), Tuesday, 14 June 2022 02:00 (one year ago) link
holy shit this is a bloodbath
― frogbs, Tuesday, 14 June 2022 02:12 (one year ago) link
https://c.tenor.com/7TV_Je4m9hQAAAAd/houseofcards-pyramid.gif
― lag∞n, Tuesday, 14 June 2022 02:21 (one year ago) link
I wish this was just the end. I think it's probably the end of a lot of the other coin schemes for a while. I think it may take more time for bitcoin to completely collapse - too many true believers out there, and it will take prolonged decline to shake them out.
― longtime caller, first time listener (man alive), Tuesday, 14 June 2022 13:41 (one year ago) link
Rumor has it that this is a great time to get in, buy low
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 14:01 (one year ago) link
youll never be able to buy below
currentPrice
― lag∞n, Tuesday, 14 June 2022 14:07 (one year ago) link
tbf i have no idea when this will all fall down what were seeing now seems like the collapse of various defi schemes that were propping up the prices of the various coins, on a more fundamental level it was like all bubbles just a lot of cheap money sloshing around
― lag∞n, Tuesday, 14 June 2022 14:10 (one year ago) link
What wave of crypto is the next? Is the next one 3? Can it be called crypto3.1
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 14:20 (one year ago) link
jack dorcey and block just announced a decentralized web called web5
― lag∞n, Tuesday, 14 June 2022 14:23 (one year ago) link
Jeeesus
18% of Coinbase's employees are being laid off today and they'll find out when they wake up and can't access their work email. https://t.co/k41Q9fopQ2 pic.twitter.com/4JGjFF8lVc— Jacob Silverman (@SilvermanJacob) June 14, 2022
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 14:24 (one year ago) link
hello good morning sweetie i guess youre wondering why im emailing your personal account ha well funny story
― lag∞n, Tuesday, 14 June 2022 14:26 (one year ago) link
In late May, Coinbase also sent emails to a number of hires telling them that the hiring freeze would not affect them, explaining that “this does not impact the offers of any employees who have already signed.” They then rescinded the offers.https://t.co/KGiRP3x9St— maxwell (@maxwellstrachan) June 14, 2022
― lag∞n, Tuesday, 14 June 2022 14:27 (one year ago) link
The ceo posted 16 red flags in a row last week, very impressive guy
1/ This is really dumb on multiple levelshttps://t.co/k6fATRXvHn— Brian Armstrong - barmstrong.eth (@brian_armstrong) June 10, 2022
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 14:52 (one year ago) link
4/ Third, making suggestions on how to improve the company is a great idea (in fact, we expect everyone to be a part of that). But our culture is to praise in public, and criticize in private.— Brian Armstrong - barmstrong.eth (@brian_armstrong) June 10, 2022
― lag∞n, Tuesday, 14 June 2022 15:13 (one year ago) link
#5 is even better, imo. he's like "only i can post dumb things on twitter. if you do it, you get fired. "you" meaning my very happy employees reading me on twitter instead of working (for which you are also fired, potentially)"
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 15:18 (one year ago) link
the world culture has really be degraded by corporate bs
― lag∞n, Tuesday, 14 June 2022 15:24 (one year ago) link
truth bomb
― the cat needs to start paying for its own cbd (map), Tuesday, 14 June 2022 15:25 (one year ago) link
i shouldn't post itt but thank you to those who are, i'm enjoying this schadenfreude
― the cat needs to start paying for its own cbd (map), Tuesday, 14 June 2022 15:26 (one year ago) link
i was watching baseball men play yesterday, about 100 degrees in st louis. one of the broadcasters mentioned that it was hot. the other broadcaster immediately said that they get paid to play, no matter what. he then launched into a story about a pitcher who died of a heart attack when he was 33, when he was still playing. this pitcher was known for his work ethic. "take the ball every 5th day, no matter what. doesn't matter if you're sick, you're injured, no. you take the mound and you pitch, that's what you're paid for." the first broadcaster, who had pointed out that it was hot, completely agreed, mentioned that there was a double-header tomorrow (which is today now), and reiterated that they're not paid to complain
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 15:29 (one year ago) link
i don't know exactly how, but there is some kind of connection between people who suck at baseball watching baseball in comfortable AC while criticizing anyone who would be visibly uncomfortable in 100 degrees, and...crypto
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 15:31 (one year ago) link
our culture is to praise in public, and criticize in private
like this is a formal principal he made up, if people really did it then it could maybe be culture, of course hes not doing it and the people hes complaining about arent doing it ergo its not the company culture
― lag∞n, Tuesday, 14 June 2022 15:34 (one year ago) link
he has some very thought-provoking views about how workers and people in countries in hard times tend to react negatively, rather than pulling together as a team
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 15:39 (one year ago) link
i think we need to poke at that a little more, pull back some layers. really something to it. because if he's right about that...then think about how much things could change if we just pull together as a team?
― Bruce Stingbean (Karl Malone), Tuesday, June 14, 2022 4:31 PM (seven minutes ago) bookmarkflaglink
sociopathy, the masculine flavor
― the cat needs to start paying for its own cbd (map), Tuesday, 14 June 2022 15:40 (one year ago) link
maybe instead of lobbing internet bombs at each other, maybe we could just drive into work, reconnect with our teammates, keep the complaints internal, push the praise eternal, and make a lil' bit of pocket change on the side, as it were, as we deserve
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 15:41 (one year ago) link
i predict that the btc meltdown, or not-meltdown, will contribute to making inequality even worse either way. take that to the bank! haha
― the cat needs to start paying for its own cbd (map), Tuesday, 14 June 2022 15:45 (one year ago) link
… the blood bank.
― Antifa Sandwich Artist (Boring, Maryland), Tuesday, 14 June 2022 15:47 (one year ago) link
that seed was planted when people who couldn't afford to lose the money invested in crypto in the first place. It's not the meltdown that will worsen inequality, it's the entire phenomenon of crypto. The sooner it dies, the fewer people it will harm.
― longtime caller, first time listener (man alive), Tuesday, 14 June 2022 15:48 (one year ago) link
this whole thing is extremely funny, to me, but i do think this has the ring of truth
https://inthesetimes.com/article/the-ticking-bomb-of-crypto-fascism
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 15:51 (one year ago) link
it's the entire phenomenon of crypto
maybe even something bigger than crypto just spit balling here
― the cat needs to start paying for its own cbd (map), Tuesday, 14 June 2022 15:52 (one year ago) link
The most Sigma move I've ever seen was SBF describing yield farming as a textbook Ponzi on a podcast, then saying that he's still bullish because he sees a bunch of institutional money about to come in.— Luke Metro (in SF 6/17-20) (@luke_metro) June 12, 2022
https://t.co/zW49Z7N22Z— Luke Metro (in SF 6/17-20) (@luke_metro) June 12, 2022
Matt: (27:13)I think of myself as like a fairly cynical person. And that was so much more cynical than how I would've described farming. You're just like, well, I'm in the Ponzi business and it's pretty good.Joe Weisenthal: (27:27)At no point did any of this require any sort of like economic case, it’s just like other people put money in the box. And so I'm going to too, and then it's more valuable. So they're gonna put more money in, and at no point in the cycle, did it seem to like, describe any sort of like economic purpose?SBF: (27:42)So on the one hand, I think that’s a pretty reasonable response, but let me play around with this a little bit. Because that's one framing of this. And I think there's like a sort of depressing amount of validity…Matt: (27:53)Can you comment on like the sustainability of that? Because, you know, on the one hand you're like, well, a trillion dollars of institutional money is going to come into Bitcoin. And on the other hand you're like basically there are a lot of Ponzis that have done really well.
Joe Weisenthal: (27:27)At no point did any of this require any sort of like economic case, it’s just like other people put money in the box. And so I'm going to too, and then it's more valuable. So they're gonna put more money in, and at no point in the cycle, did it seem to like, describe any sort of like economic purpose?
SBF: (27:42)So on the one hand, I think that’s a pretty reasonable response, but let me play around with this a little bit. Because that's one framing of this. And I think there's like a sort of depressing amount of validity…
Matt: (27:53)Can you comment on like the sustainability of that? Because, you know, on the one hand you're like, well, a trillion dollars of institutional money is going to come into Bitcoin. And on the other hand you're like basically there are a lot of Ponzis that have done really well.
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 15:55 (one year ago) link
Presumably that's from Odd Lots?
― longtime caller, first time listener (man alive), Tuesday, 14 June 2022 15:58 (one year ago) link
the link has the words "odd lots" on the page so yes i think it is
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 15:58 (one year ago) link
the sad irony of crypto is that people who felt like the mainstream financial system is designed to fleece them, which it largely is, were driven to crypto which is a system that is completely designed to fleece them
― lag∞n, Tuesday, 14 June 2022 15:59 (one year ago) link
gonna stop myself before i get too trenchant in this tech-prioritizing thread but a market is just a state-backed ponzi scheme so. afaict this whole thing is just a power struggle between tech worshippers who feel like they deserve power and trad elites who have been in a process of doubling down on the "trad" part for a while now.
as far as "crypto will lead to fascism" goes that's another one of approx. 54,000,000 blame shift takes imo.
― the cat needs to start paying for its own cbd (map), Tuesday, 14 June 2022 16:04 (one year ago) link
theres nothing "just" about being state backed
― lag∞n, Tuesday, 14 June 2022 16:06 (one year ago) link
should also be noted that say the stock market refers to companies that do actual things, obvs theres a lot of uh froth in there, but selling oatmeal that people then eat is real, oatmeal is not a ponzi scheme
― lag∞n, Tuesday, 14 June 2022 16:08 (one year ago) link
that's true to an extent. some people, very gullible, suckers, etc.
i also think about a friend of mine, though, who has always been a libertarian, even before he had heard of it. a couple weeks ago he called me a "people policer". anyway, of course he's really into crypto. but his current life/job idea is to a) auto-generate music and b) sell this auto-generated music to people for their Unity games. i asked him if he made the auto-generator or if he's using someone else's. someone else's, of course. then i asked him why someone would buy auto-generated music if they could auto-generate it themselves. we ended by agreeing that there was a short window of time in which this plan might be plausible, and he redoubled his efforts to make some money on it while it's still possible.
keep in mind, all of this is putting aside how awful auto-generated music is and what an insult it is to use it in your game, especially when there are millions of people who "human generate" music whose main life accomplishment would be achieved if someone, ANYONE out there would just use their shitty, human music in a real, shitty, game, even with zero compensation.
that's ALSO a lot of the crypto audience. it's the hunt for energy created by perpetual motion, alchemy shit
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 16:14 (one year ago) link
games with generative landscapes, generative resources, generative creatures, generative skies, practically limitless, are on the same wavelength as crypto, i think. it's suspended disbelief and faith that generative worlds really will lead to "infinite growth", while completely ignoring how hollow the "content" is
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 16:17 (one year ago) link
eh, it's not a terrible plan https://www.bloomberg.com/news/articles/2022-06-01/how-to-make-money-on-spotify-a-white-noise-podcast-could-bring-you-big-bucks
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 16:17 (one year ago) link
yeah i mean its just greed im not trying to defend the people who were tweeting have fun staying poor a month ago or whatever, but also fundamentally they represent a societal class of losers constantly being manipulated by winners right down to the sad greedy ideologies theyre fed through instagram hustle memes or whatever
― lag∞n, Tuesday, 14 June 2022 16:18 (one year ago) link
idk why anyone would use machine generated music when you could just put on some lofi beats to study/chill
― lag∞n, Tuesday, 14 June 2022 16:19 (one year ago) link
xp lol caek
yeah, for real though! i'm not exactly the most effective person to criticize the employment activities of other people, but it's amazing how many people just sit around thinking "how can i scam people and make money for something that contributes absolutely nothing at all to the world?"
― Bruce Stingbean (Karl Malone), Tuesday, 14 June 2022 16:22 (one year ago) link
tbf most regular jobs contribute nothing to the world so i can understand it, tho the scamming people part is not forgivable, scamming big corps on the other hand
― lag∞n, Tuesday, 14 June 2022 16:24 (one year ago) link
― lag∞n, Tuesday, June 14, 2022 11:08 AM (thirteen minutes ago) bookmarkflaglink
Yeah, people sometimes call the stock market a "ponzi scheme" because some part of the value is dependent on more money flowing in than flows out, but it's at least potentially tied to something that can actually produce and grow in a meaningful way. Most of the market is, in fact, companies that produce things and have earnings, and even though the market has tended to eschew dividends in favor of price appreciation, at bottom the value of a stock should still bear some relationship to the future cash flows it represents.
― longtime caller, first time listener (man alive), Tuesday, 14 June 2022 16:26 (one year ago) link
theres obvs a tremendous amount of scammy fake shit in finance but its still way less fake and scammy than crypto
― lag∞n, Tuesday, 14 June 2022 16:33 (one year ago) link
― lag∞n, Tuesday, June 14, 2022 12:24 PM (one hour ago) bookmarkflaglink
excuse me!
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 14 June 2022 17:58 (one year ago) link
It's hard for me to imagine loving material wealth so much that you would think "How can I literally just screw people out of their money while contributing no value to the world whatsoever so I can drive around in a fancy car."
― longtime caller, first time listener (man alive), Tuesday, 14 June 2022 18:41 (one year ago) link
that "everyone calm down, it’s possible that this is just the bank experiencing a liquidity crisis" reminded me of this part:
One of the things you’ve said, if I recall, is that the cryptocurrency space is “speed-running 500 years of financial history.” By which I take you to mean that all of the financial disasters of centuries past are playing out in short order, and then they have to rediscover the solutions that were put in place for those things not to happen. So you start off thinking, “Oh, wouldn’t it be fantastic if there were no central authority?” and then all of a sudden you realize, “Actually, it really would be nice if we had a central authority to regulate fraud and such” and you rediscover the virtue of banks and government.
of this interview https://www.currentaffairs.org/2022/05/why-this-computer-scientist-says-all-cryptocurrency-should-die-in-a-fire
― corrs unplugged, Wednesday, 15 June 2022 07:27 (one year ago) link
that's a yaow
https://web3isgoinggreat.com/?id=kraken-crypto-exchange-announces-culture-overhaul
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 15 June 2022 16:10 (one year ago) link
sounds like everythings going great over there
― lag∞n, Wednesday, 15 June 2022 16:33 (one year ago) link
That’s a unique way to announce layoffs
― Antifa Sandwich Artist (Boring, Maryland), Wednesday, 15 June 2022 16:36 (one year ago) link
lol yeah
― lag∞n, Wednesday, 15 June 2022 16:37 (one year ago) link
He's also trying to frontrun that there will be a "hit piece" coming out soon and "don't believe the news"My dude, you've just made whatever this "hit piece" will be pretty believable. pic.twitter.com/JT4uccTmYX— Molly White (@molly0xFFF) June 15, 2022
― lag∞n, Wednesday, 15 June 2022 16:55 (one year ago) link
The culture document goes on to say that "Someone Must be Offended, Some of the Time":"Krakenites are welcome to request (and deny) personal language and communication preferences of each other"Everyone is responsible for their own feelingsBeing offended doesn't necessarily make you rightBeing offended doesn't necessarily make you "harmed"Words nor silence are ever "violence"We do not call someone's words toxic, hateful, racist, x-phobic, unhelpful, etc.
"Krakenites are welcome to request (and deny) personal language and communication preferences of each other"Everyone is responsible for their own feelingsBeing offended doesn't necessarily make you rightBeing offended doesn't necessarily make you "harmed"Words nor silence are ever "violence"We do not call someone's words toxic, hateful, racist, x-phobic, unhelpful, etc.
"someone must be offended, some of the time" tells you all you need to know. whoever wrote that is someone who offends at least one person every single time they do anything, and had to move mountains and time and space in order to come up with a theory of the world that accounts for how awful they are while completely absolving them from any responsibility
― Bruce Stingbean (Karl Malone), Wednesday, 15 June 2022 16:59 (one year ago) link
HEY THERE, STOP! We do not call someone's words hateful around here. That is not our culture.
totally separate issue but the corporate world's swift and total appropriation of the word "culture" is fucking bonkers
― Bruce Stingbean (Karl Malone), Wednesday, 15 June 2022 17:00 (one year ago) link
corporate culture is important to the functioning of a company but its funny how the bosses think its something they can control by decree
― lag∞n, Wednesday, 15 June 2022 17:03 (one year ago) link
theres a glimmer of insight thats immediately subsumed into management mind
― lag∞n, Wednesday, 15 June 2022 17:04 (one year ago) link
tho tbf there are tons of bosses out there who do understand culture better
― lag∞n, Wednesday, 15 June 2022 17:05 (one year ago) link
presumably as the bubble pops and you can no longer effectively market crypto as a way to get rich nor as a way to get revenge for the financial crisis by replacing the international banking system with a subreddit there's gonna be a lot of pivoting to marketing it as a way to own the libs (tho if i wanted to own the libs i would just buy a rude t-shirt; then i could have it and see it and wear it and be happy, instead of losing a bunch of money on crypto). nevertheless as the mainstream fad passes this feels like the inevitable next step to retain and deepen the loyalty of some portion of the faithful, who are after all just about to get dolchestossed again.
― difficult listening hour, Wednesday, 15 June 2022 17:47 (one year ago) link
i sure as hell have never worked for one xp
― the cat needs to start paying for its own cbd (map), Wednesday, 15 June 2022 18:01 (one year ago) link
here's the piece the kraken ceo was trying to get ahead of https://www.nytimes.com/2022/06/15/technology/kraken-crypto-culture.html
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 15 June 2022 18:52 (one year ago) link
The sheer mind-pretzel of people are responsible for their own feelings and no one has a right not to be offended BUT ALSO you can't call people's words toxic, racist, homophobic, etc.
― longtime caller, first time listener (man alive), Wednesday, 15 June 2022 18:55 (one year ago) link
lol what
Those who disagreed could quit, Mr. Powell said, and opt into a program that would provide four months of pay if they affirmed that they would never work at Kraken again.
― lag∞n, Wednesday, 15 June 2022 18:56 (one year ago) link
promise to never come back here
Mr. Powell, who attended California State University, Sacramento, started an online store in 2001 called Lewt, which sold virtual amulets and potions to gamers. A decade later, he embraced Bitcoin as an alternative to government-backed money.In 2011, Mr. Powell worked on Mt. Gox, one of the first crypto exchanges, helping the company navigate a security issue. (Mt. Gox collapsed in 2014.)
In 2011, Mr. Powell worked on Mt. Gox, one of the first crypto exchanges, helping the company navigate a security issue. (Mt. Gox collapsed in 2014.)
looool
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 15 June 2022 18:57 (one year ago) link
(Mt. Gox collapsed in 2014 because of a security issue.)
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 15 June 2022 18:59 (one year ago) link
good piece of this kind of boss https://newsletters.theatlantic.com/galaxy-brain/62a7fbc951acba00209259f5/elon-musk-brian-armstrong-coinbase-crypto/
hahaha
"In the time between me scheduling this newsletter and its publication, Coinbase:
Laid off 18 percent of its workforce. Fired employees were given no notice and woke up locked out of their email.Ran an ad during the NBA finals mocking tweets saying that crypto is dead. (Bitcoin has fallen 25.32 percent in the past five days.)"
― longtime caller, first time listener (man alive), Wednesday, 15 June 2022 19:02 (one year ago) link
Bleeding. Another $700 million withdrawn from Tether, following a like amount yesterday. Nearly $13 billion in a month. The peg can’t get to $1.00. Won’t allow an audit. Won’t disclose their CP/US T-bill custodian. Says they redeemed Celsius positions with no realized losses. 1/ pic.twitter.com/sNAqM8pVeR— Christopher Bloomstran (@ChrisBloomstran) June 15, 2022
― lag∞n, Wednesday, 15 June 2022 19:40 (one year ago) link
guess well see if tether actually has those reserves
It went below 20k
― longtime caller, first time listener (man alive), Saturday, 18 June 2022 11:26 (one year ago) link
Briefly below 19 even
― longtime caller, first time listener (man alive), Saturday, 18 June 2022 11:28 (one year ago) link
someone sold some
https://i.imgur.com/gatYgpR.png
― lag∞n, Saturday, 18 June 2022 11:53 (one year ago) link
A great thing about #bitcoin Twitter right now, is only the real ones are left. Goodbye #bitcoin tourists.But there is still much pain before we get rid of the real ones and have just the #Bitcoin purists. Remember, it went from $32 to $2; so $69k to $4k would be a great purge. pic.twitter.com/rY7aLCzNkr— Bitcoin (@Bitcoin) June 18, 2022
thats not blood its victory wine
― frogbs, Saturday, 18 June 2022 16:37 (one year ago) link
love to purge my world-changing currency of "tourists"
― mark s, Saturday, 18 June 2022 16:47 (one year ago) link
lol the whole thing is so fn psychotic
― lag∞n, Saturday, 18 June 2022 17:06 (one year ago) link
Yeah, but when you lose all your money from gambling it’s very normal for the casino to publicly post about how they’re glad you’re gone, right
― Bruce Stingbean (Karl Malone), Saturday, 18 June 2022 17:16 (one year ago) link
Crypto’s genius is to take that “oh well, I was betting against the house, what did I think was going to happen? At least I had fun losing my money” feeling and converted it to “it was my fault, and I didn’t even get a free drink out of it, or even a glimpse of ugly psychedelic casino carpeting from 1983”
― Bruce Stingbean (Karl Malone), Saturday, 18 June 2022 17:18 (one year ago) link
What happens when the price is below the cost of mining? Do all the mining operations just shut down and no new bitcoins get made?
― longtime caller, first time listener (man alive), Saturday, 18 June 2022 19:33 (one year ago) link
considering theyve spent a lot on their mining computers one would think that theyll keep mining hoping the price will go up in the future, but then if the price stays low some will drop out leading mining to become cheaper until its profitable again i guess
― lag∞n, Saturday, 18 June 2022 20:02 (one year ago) link
dropped below 18k now
― lag∞n, Saturday, 18 June 2022 20:12 (one year ago) link
down ~13% today
― lag∞n, Saturday, 18 June 2022 20:14 (one year ago) link
Below 10 coming
― 𝔠𝔞𝔢𝔨 (caek), Saturday, 18 June 2022 20:18 (one year ago) link
lets do this
― lag∞n, Saturday, 18 June 2022 20:18 (one year ago) link
Should find support around $0
― longtime caller, first time listener (man alive), Saturday, 18 June 2022 20:28 (one year ago) link
its all according to plan
#Bitcoin bottom's around the corner. When 100MA crossed up the 20MA, bottom was extremely close. It happened 2 times in #BTC history.> It's just happened again.+ RSI below 30 level. + Price's in the Reload Zone(61.8%-78.6%), zone of interest for professional.Consider RT🤝 pic.twitter.com/3C3dxxUFIk— Washigorira (@Washigorira) June 18, 2022
― lag∞n, Saturday, 18 June 2022 20:35 (one year ago) link
There are currently 2 perspectives on #bitcoin:1. (left) BTC is a bubble, a ponzi that will go to zero2. (right) BTC is rising exponentially with great volatilityNote that the 2 charts use the exact same data. Perspective matters. #logscale pic.twitter.com/Ej78MZjZ58— PlanB (@100trillionUSD) June 18, 2022
― lag∞n, Saturday, 18 June 2022 20:43 (one year ago) link
$BTC Update 17k coincides with the fib 0.786 level and a long position can be taken there with 28k target.Incase it fails, 12k is the next support to look at.That would be the last dip according to me and I’ll be in #btc and alts completely. pic.twitter.com/zy3qFpjpF5— Phoenix ICF (@phoenixicf) June 18, 2022
― lag∞n, Saturday, 18 June 2022 20:51 (one year ago) link
#logscale
― mark s, Saturday, 18 June 2022 20:53 (one year ago) link
Strong support for #bitcoin between 17.1-19k. If we don’t get a $BTC bounce from this range, my next target is 12-14k. pic.twitter.com/NDmlOishQQ— Miles Deutscher (@milesdeutscher) June 18, 2022
― lag∞n, Saturday, 18 June 2022 20:53 (one year ago) link
The buying opportunity won't get much bigger than this...#Bitcoin $BTC pic.twitter.com/xPGM1Uwu7F— Crypto Rover (@rovercrc) June 18, 2022
― lag∞n, Saturday, 18 June 2022 20:54 (one year ago) link
the only log scale these bozos need is the one to measure the weights of these gigantic crypto turds theyre dropping on the world heyoooooo
― terence trent d'ilfer (m bison), Saturday, 18 June 2022 20:54 (one year ago) link
#BTC is down -15% below the 200-MA right nowHistorically, $BTC tends to wick -14% to -28% below the 200-MA#Crypto #Bitcoin pic.twitter.com/SlUjBdduLc— Rekt Capital (@rektcapital) June 18, 2022
― lag∞n, Saturday, 18 June 2022 20:55 (one year ago) link
check out the log on this one
#Bitcoin is dying pic.twitter.com/G5ZbnIgA5r— Bitcoin Magazine (@BitcoinMagazine) June 18, 2022
― Portrait Of A Dissolvi Ng Drea M (Camaraderie at Arms Length), Saturday, 18 June 2022 20:57 (one year ago) link
oh, i see how it is around here.
no one wants to discuss the fib 0.786 level. everyone just wants to pretend the fib 0.786 level doesn't exist
― Bruce Stingbean (Karl Malone), Saturday, 18 June 2022 21:10 (one year ago) link
(late at night, pulled out of bed and to the window. something is out there. it's the fib 0.786 level)
― Bruce Stingbean (Karl Malone), Saturday, 18 June 2022 21:11 (one year ago) link
been listening to this guy a lot, thinking a lot about what he is saying and i think he is right
$BTC easiest 5x you’ll ever get.$ETH easiest 10x you’ll ever get.$SOL easiest 20x you’ll ever get.Timeframe: 2024-2025 the latest.— Simon Dedic (@scoinaldo) June 17, 2022
― Bruce Stingbean (Karl Malone), Saturday, 18 June 2022 23:23 (one year ago) link
How’s slurp juice doing
― Antifa Sandwich Artist (Boring, Maryland), Saturday, 18 June 2022 23:25 (one year ago) link
gooooooood
― Bruce Stingbean (Karl Malone), Saturday, 18 June 2022 23:28 (one year ago) link
say what you will about crypto, but a traditional financial institution could never hold a vote over whether to seize someone else's money and one person gets to vote a million times, that kind of decentralized innovation is simply not possible without blockchain https://t.co/CEAepVSVtH— Sam Biddle (@samfbiddle) June 19, 2022
― lag∞n, Sunday, 19 June 2022 22:24 (one year ago) link
we can't be held hostage by an abusive whale
for all the drawbacks of crypto, it has gifted us with some felicitous turns of phrase
― bule bulak oying (cat), Monday, 20 June 2022 13:07 (one year ago) link
paper hand miners
From Hodler to Foldler.https://t.co/zqPQ2aVr09— Tracy Alloway (@tracyalloway) June 21, 2022
― lag∞n, Tuesday, 21 June 2022 20:43 (one year ago) link
― Antifa Sandwich Artist (Boring, Maryland), Tuesday, 21 June 2022 22:15 (one year ago) link
Lots of these vibes going on right now in cryptoland pic.twitter.com/14bOR8iLrO— Nate Anderson (@ClarityToast) June 22, 2022
― lag∞n, Wednesday, 22 June 2022 14:46 (one year ago) link
well if that guy has seen "multipe bank statements and letters from lawyers", then everything must be fine!
― Critique of the Goth Programme (Neil S), Wednesday, 22 June 2022 14:54 (one year ago) link
They should have had him hold up a newspaper with today's date on it.
― Cabernet Frank (PBKR), Wednesday, 22 June 2022 14:58 (one year ago) link
fwiw that video is from the infamous mt gox exchange which at one point was handling the majority of the worlds bitcoin buying and selling before revealing in 2014 that the bitcoins were all gone
― lag∞n, Wednesday, 22 June 2022 15:05 (one year ago) link
best part is when he says the banks just cant keep up
― lag∞n, Wednesday, 22 June 2022 15:06 (one year ago) link
banks just don't know how to process transactions, it's true.
― Cabernet Frank (PBKR), Wednesday, 22 June 2022 15:29 (one year ago) link
delivered in the comforting tones/style of a hostage video
― longtime caller, first time listener (man alive), Wednesday, 22 June 2022 16:25 (one year ago) link
Yeah, I kept imagining being one of the other people at that guys job (or...is that his workplace? Is he just in a computer lab?) and thinking about how I would definitely quit, that same day, rather than be in any job where that guy is part of it and he gets to record videos like that
― Bruce Stingbean (Karl Malone), Wednesday, 22 June 2022 16:29 (one year ago) link
It is actually better to be dead
― Bruce Stingbean (Karl Malone), Wednesday, 22 June 2022 16:30 (one year ago) link
the funniest outcome here is tether flaming out and the hegde funds being unable to cash in their shorts cause the whole crypto system crashed
It’s popcorn time already? More Hedge Funds Are Betting Against Tether as Crypto Melts Down https://t.co/6RB8MMBC8l— Bitfinex’ed 🔥 Κασσάνδρα 🏺 (@Bitfinexed) June 27, 2022
― lag∞n, Monday, 27 June 2022 13:13 (one year ago) link
Crypto hedge fund Three Arrows Capital has entered liquidationhttps://t.co/zWjwklCmAx— *Walter Bloomberg (@DeItaone) June 29, 2022
― lag∞n, Wednesday, 29 June 2022 13:00 (one year ago) link
It turns out that Coinbase, the largest crypto exchange in the US, is directly selling tools to U.S law enforcement & immigration agencies to help track peoples’ crypto transactions.https://t.co/rkyRvNdp9c— Avi Asher-Schapiro (@AASchapiro) June 29, 2022
― Chyiv Kyiv (Fetchboy), Thursday, 30 June 2022 00:59 (one year ago) link
its da freedom money
― lag∞n, Thursday, 30 June 2022 01:15 (one year ago) link
well ain't that a leopard eating my face
― longtime caller, first time listener (man alive), Thursday, 30 June 2022 03:15 (one year ago) link
https://www.newyorker.com/news/our-columnists/the-great-crypto-grift-may-be-unwinding
― thinkmanship (sleeve), Thursday, 30 June 2022 03:20 (one year ago) link
We seem to now be in the midst of a long, slow, air leaking out kind of decline. It’s below $19k again and falling very steadily.
― longtime caller, first time listener (man alive), Thursday, 30 June 2022 22:16 (one year ago) link
yeah they already did the superbowl commercials at some point youre going to use up all the suckers
― lag∞n, Friday, 1 July 2022 00:09 (one year ago) link
what happens if you pump but theres nowhere to dump
― lag∞n, Friday, 1 July 2022 00:37 (one year ago) link
maybe matt damon was the pets.com sock puppet dog of crypto
― circles, Friday, 1 July 2022 02:39 (one year ago) link
lol fun to watch the price shoot up $1500 in 2 minutes and slowly bleed it all back over the next 3 hours
― frogbs, Friday, 1 July 2022 04:01 (one year ago) link
a story as old as time
Crypto-themed restaurant stops accepting cryptoJune 24, 2022https://t.co/DUcv4K7KzI pic.twitter.com/33E971K33v— web3 is going just great (@web3isgreat) June 24, 2022
― lag∞n, Saturday, 2 July 2022 02:05 (one year ago) link
tether is printing unbacked tethers and dumping them on the chinese market with the help of a chinese crytpo tycoon / bit torrent owner / grandian diplomat justin sun, apparently
🧵🚨🚨🚨🚨🚨 Does anyone think it's a coincidence that #AEX, first exchange to close withdrawal, tweeted about a $1B bank run THE SAME DAY that #Tether burned EXACTLY $1B?WTF is a mid sized exchange doing keeping $1B around?Unless it's... not real...https://t.co/nGqKg8gMR1 pic.twitter.com/3wjGncw5po— ⚯ Michel de Cryptadamus ⚯ (@Cryptadamist) July 7, 2022
― lag∞n, Thursday, 7 July 2022 20:50 (one year ago) link
here is the document https://cryptadamus.substack.com/p/the-tetherers-apprentice
― lag∞n, Thursday, 7 July 2022 20:52 (one year ago) link
what caused today's tumble i was busy not reading twitter for once
― mark s, Wednesday, 13 July 2022 16:46 (one year ago) link
yeah I just saw BTC fell like $900 in a few minutes, just like 15 minutes ago.
― longtime caller, first time listener (man alive), Wednesday, 13 July 2022 16:52 (one year ago) link
surprisingly bad inflation report was released at 8:30am ET, the exact moment of the initial drop.
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 13 July 2022 17:31 (one year ago) link
i was told bitcoin was a hedge against inflation
― lag∞n, Wednesday, 13 July 2022 17:37 (one year ago) link
Coinbase $COIN: A name you can trust. pic.twitter.com/ocs850S57y— PlainSite (@PlainSite) July 21, 2022
― lag∞n, Thursday, 21 July 2022 15:17 (one year ago) link
well, fuck
Blockchain-powered carbon offset company Land Life starts 35,000-acre forest fire in SpainJuly 20, 2022https://t.co/LRLNmv1QGs pic.twitter.com/EJ3GfmLia0— web3 is going just great (@web3isgreat) July 20, 2022
― built like a kit malthouse (bizarro gazzara), Thursday, 21 July 2022 17:30 (one year ago) link
be nice if this thread was easier to find 😡
― mark s, Tuesday, 2 August 2022 13:53 (one year ago) link
anyway this is a high comedy of code-is-now-law:
12/ tl;dr a routine upgrade marked the zero hash as a valid root, which had the effect of allowing messages to be spoofed on Nomad. Attackers abused this to copy/paste transactions and quickly drained the bridge in a frenzied free-for-all— samczsun (@samczsun) August 2, 2022
― mark s, Tuesday, 2 August 2022 13:54 (one year ago) link
im sure ive said this itt before but the the whole blockchain smart contract thing is pretty funny in that it makes the popular misunderstanding of a contract real, that its a bulletproof literal document where you can trick someone with fine print and once its signed youre stuck without recourse, and now theyre finding out why contracts dont actually work that way lol
― lag∞n, Tuesday, 2 August 2022 14:10 (one year ago) link
does that nomad behavior even count as a vulnerability/hack? it's like they said, "we don't care who people say they are". it's on the level of finding a bug in javascript code written by a teenager to trade magic cards.
― formerly abanana (dat), Tuesday, 2 August 2022 16:02 (one year ago) link
― lag∞n, Tuesday, August 2, 2022 9:10 AM (three hours ago) bookmarkflaglink
No more hilarious/disturbing example of this misunderstanding than the blockchain "consent" app posted somewhere upthread. Inefficient processes have a certain benefit. Not going to say nothing could be done with technology to improve them, but you really don't want these transactions (contracts, title transfers etc) to be instant/automatic.
― longtime caller, first time listener (man alive), Tuesday, 2 August 2022 17:15 (one year ago) link
Friedman LLP fired Tether.Tether refused to provide the necessary documents to complete the audit.— Bitfinex’ed 🔥 Κασσάνδρα 🏺 (@Bitfinexed) August 18, 2022
― lag∞n, Thursday, 18 August 2022 16:08 (one year ago) link
https://pbs.twimg.com/media/FaLl8HLXkAAQg1R?format=jpg&name=medium
― lag∞n, Thursday, 18 August 2022 16:09 (one year ago) link
HUSD was once one of the safest stablecoins. Now it's off its peg. If HUSD doesn't return to $1, it'd be the first fully-reserved centralized stablecoin to fail. pic.twitter.com/9WmROQR6lD— John Paul Koning (@jp_koning) August 18, 2022
― lag∞n, Thursday, 18 August 2022 18:12 (one year ago) link
tether thing makes me a little queasy. Just has that iceberg vibe to it.
― longtime caller, first time listener (man alive), Thursday, 18 August 2022 20:05 (one year ago) link
oh yeah its gonna fuck their whole shit up
― lag∞n, Thursday, 18 August 2022 20:21 (one year ago) link
OptiFi developer accidentally closes the project contract, irretrievably locking $661,000August 29, 2022https://t.co/U9Vhtf3Ynw pic.twitter.com/4tWQnUDG6M— web3 is going just great (@web3isgreat) August 30, 2022
― lag∞n, Tuesday, 30 August 2022 13:41 (one year ago) link
buy 76.99 ETH, sell 24 hours later for 769.9 ETHinstant $1m "clean" moneylet none say "glaringly obvious monkey laundering"https://t.co/eMdzBefwML— your #1 source for absurdist true crime 🐍👑 🌷 (@davidgerard) September 1, 2022
― lag∞n, Thursday, 1 September 2022 18:49 (one year ago) link
yes, please let NFTs now be referred to solely as "monkey laundering"
― link.exposing.politically (Camaraderie at Arms Length), Thursday, 1 September 2022 19:00 (one year ago) link
otm, brilliant
― Tracer Hand, Thursday, 1 September 2022 19:40 (one year ago) link
#Bitcoin is dying pic.twitter.com/2N58QjudNO— Bitcoin Magazine (@BitcoinMagazine) September 4, 2022
#Bitcoin 1-year trailing return has been a good indicator of bottoms. According to this, the bottom is not in yet, but might likely be before the end of this year. 2023 looks like a rebound year in many respects. pic.twitter.com/8kfTBVAHqS— Timothy Peterson (@nsquaredmacro) September 3, 2022
Yes 2024 will be good! #BTC pic.twitter.com/2kTiLI3RZ4— Seth (@seth_fin) September 4, 2022
― lag∞n, Sunday, 4 September 2022 18:34 (one year ago) link
seems like a great experience!
Introducing Starbucks Odyssey, a new experience that will offer the ability to earn & buy digital collectibles (NFTs) that will unlock access to new coffee experiences. Join the waitlist to be among the first to explore Odyssey. https://t.co/Kze11sab1D— Starbucks News (@StarbucksNews) September 12, 2022
― lag∞n, Monday, 12 September 2022 22:15 (one year ago) link
This reminds me a lot of that pre-crash era of the web where every corporate brand suddenly understood that they "needed a website" but had no idea wtf to do with it
― longtime caller, first time listener (man alive), Tuesday, 13 September 2022 13:07 (one year ago) link
pretty funny that the web3/nft boom was short enough that the corporate products werent even out before the crash
― lag∞n, Tuesday, 13 September 2022 13:22 (one year ago) link
lol yeah, that was probably in development for like 15 months and then they're like "oh fuck, what do we do with this now?"
― longtime caller, first time listener (man alive), Tuesday, 13 September 2022 13:25 (one year ago) link
figuring out how to trade in your nft for a free coffee before youve had coffee
― lag∞n, Tuesday, 13 September 2022 13:27 (one year ago) link
obviously this is just a huge company with unlimited money splashing around but why did starbucks feel like they needed to be first to market with digital customer rewards collectables theyre a coffee company i think they can afford to wait and see if its just some bullshit craze and or money laundering scheme
― lag∞n, Tuesday, 13 September 2022 13:30 (one year ago) link
dunkin donuts did not do this they stuck to their core competency of figuring out how many sugars you can put in an xxl coffee
― lag∞n, Tuesday, 13 September 2022 13:31 (one year ago) link
are these actual nfts is this "crypto" or is it just some badges living on starbucks servers
Limited-edition stamps will also be available for all members to purchase directly with a credit card in the app.No crypto wallet or cryptocurrency needed. This is the right strategy. Crypto complexity should all be abstracted away in the backend.— Aylo (@alpha_pls) September 12, 2022
― lag∞n, Tuesday, 13 September 2022 13:38 (one year ago) link
Members can also purchase ‘limited-edition stamps’ (NFTs) through a built-in marketplace within the Starbucks Odyssey web app experience. Limited-edition stamps will be available for all members to purchase directly with a credit card. No crypto wallet or cryptocurrency will be required – making the Starbucks Odyssey experience a fun and easy way for members to access this new technology and claim an ownership stake in their loyalty to Starbucks.
Each digital collectable stamp will include a point value based on its rarity, and the stamps can be bought or sold among members within the marketplace, with ownership secured on a blockchain. As stamps are collected, members’ points will increase, unlocking access to unique benefits and experiences that have never been offered before. These experiences could range from a virtual espresso martini-making class, to access to unique merchandise and artist collaborations, to invitations to exclusive events at Starbucks Reserve Roasteries or even trips to Starbucks Hacienda Alsacia coffee farm in Costa Rica.
― lag∞n, Tuesday, 13 September 2022 13:44 (one year ago) link
go ahead folks keep mocking this as you continue to live out the same coffee experiences every single day of your life
― frogbs, Tuesday, 13 September 2022 13:48 (one year ago) link
I tried to sign up but the waiting list wouldn’t load.
― Jeff, Tuesday, 13 September 2022 13:54 (one year ago) link
Wait, it just worked! Have fun staying coffee pour.
― Jeff, Tuesday, 13 September 2022 13:55 (one year ago) link
lol kudos
― lag∞n, Tuesday, 13 September 2022 13:58 (one year ago) link
No crypto wallet or cryptocurrency will be required – making the Starbucks Odyssey experience a fun and easy way for members to access this new technology and claim an ownership stake in their loyalty to Starbucks.This part is especially funny/cruel
― Karl Malone, Tuesday, 13 September 2022 14:04 (one year ago) link
Proof of loyalty to Starbucks stake, perpetually coming soon
― Karl Malone, Tuesday, 13 September 2022 14:05 (one year ago) link
this is really one of the best corporate brain documents weve seen in a while
― lag∞n, Tuesday, 13 September 2022 14:05 (one year ago) link
I use Duolingo. There are badges on there. I collect then because I am a freak in the language learning sheets. If Duolingo records the status of my badges on a blockchain, does that make it as much of a NFT proof of loyalty to Duolingo than the Starbucks system? Or will the Starbucks investor loyalty team be able to also trade in 40 badges + $40 to be included in a list of 32,000 names that scroll by in an instant at the end of the new online only Starbucks advertisement? Because I want that badly
― Karl Malone, Tuesday, 13 September 2022 14:09 (one year ago) link
I want my name to scroll in the credits, size venti please
― Karl Malone, Tuesday, 13 September 2022 14:10 (one year ago) link
all wishes granted in web3
― lag∞n, Tuesday, 13 September 2022 14:12 (one year ago) link
seem pretty clear this isnt "real blockchain" "real nft" and why would it be starbucks doesnt want some freak putting kiddie porn into their beautiful and fulfilling customer rewards app
― lag∞n, Tuesday, 13 September 2022 14:14 (one year ago) link
like theyre probably "using blockchain tech" but they control it totally and theres no way to move any of the assets outside their system
― lag∞n, Tuesday, 13 September 2022 14:16 (one year ago) link
or maybe its not "really a blockchain" its just a normal database and app that would be the funniest
― lag∞n, Tuesday, 13 September 2022 14:17 (one year ago) link
are they "publishing to an immutable ledger" and is it publicly readable
― lag∞n, Tuesday, 13 September 2022 14:18 (one year ago) link
all the crypto brethren are stoked on this regardless because theyre all just trying to get rich and hope this will legitimize their technology that is exclusively used for fraud
― lag∞n, Tuesday, 13 September 2022 14:20 (one year ago) link
love abstracting things away in the backend
― mookieproof, Tuesday, 13 September 2022 14:55 (one year ago) link
― lag∞n, Tuesday, 13 September 2022 15:17 (one year ago) link
― lag∞n, Tuesday, September 13, 2022 8:30 AM (four hours ago) bookmarkflaglink
I think Starbucks is publicly held but, outside of the franchise/kiosk/merchandising bit, they don't have any other corporate holdings
publicly held corporations have to continually demonstrate some sort of... thing.. to shareholders every year (or even every quarter) to show that they're chasing after some new profit margin, or incentivizing customers to spend more money. if there are multiple properties (Dunkin is part of a group with Baskin Robbins and some other donut chain) you can keep rebalancing between the properties to show you're doing something, but if you're a single-brand property you end up doing loopy shit so that some stock market analyst doesn't underrate your stock. as far as I can tell, stock market analysts are 50% metrics and 50% complete hype
― mh, Tuesday, 13 September 2022 17:55 (one year ago) link
they shouldve done something else! injectable coffee idk coffee for babies those are two superior ideas i came up with just now
― lag∞n, Tuesday, 13 September 2022 17:58 (one year ago) link
― mookieproof, Tuesday, September 13, 2022 3:55 PM (three hours ago) bookmarkflaglink
agree
― (grim) pump track (wales) (map), Tuesday, 13 September 2022 18:21 (one year ago) link
totally normal
https://pbs.twimg.com/media/FdO4ewEXkAEqHJ_?format=jpg&name=900x900
― lag∞n, Thursday, 22 September 2022 11:17 (one year ago) link
Ah yes, % Drawdown from previous ATH, that universally-respected measurement of value.
― link.exposing.politically (Camaraderie at Arms Length), Thursday, 22 September 2022 11:34 (one year ago) link
When I was at sixth form my friend did an A-level stats project to show Birmingham city were the best football team, he settled on "highest average match attendance compared to average for their tier, in the top 4 tiers of English football"
― link.exposing.politically (Camaraderie at Arms Length), Thursday, 22 September 2022 11:37 (one year ago) link
did he factor in the "Jasper Carrot Fandom Quotient"?
― Critique of the Goth Programme (Neil S), Thursday, 22 September 2022 12:17 (one year ago) link
Does anyone who knows stuff have a comment on ethereum’s shift to proof of stake, which seems to have worked (?) and how that might affect the other shitcoins?
― Karl Malone, Thursday, 22 September 2022 14:25 (one year ago) link
yikes
"The Commission defines the Ooki DAO unincorporated association as those holders of Ooki tokens that have voted on governance proposals with respect to running the business"If you are an Ooki token holder who voted on governance proposals you just got charged... https://t.co/eqek0aD3wU— db (@tier10k) September 22, 2022
― lag∞n, Thursday, 22 September 2022 22:09 (one year ago) link
― Karl Malone, Thursday, September 22, 2022 10:25 AM (seven hours ago) bookmarkflaglink
there are so many arcane almost occult questions around this stuff but this is a kind of interesting regulatory detail, one that apparently a lot of people were warning about before the switch, also my understanding is ethereum still has a number of more steps before the switch is fully complete, and itll prob take time to see if its "working", but they are actually as of now no longer consuming enough electricity to power a mid sized country which is certainly good news
Hours after Ethereum transition to proof-of-stake, SEC Chair says PoS crypto could be classed as securitiesSeptember 15, 2022https://t.co/wSut0OP8hc pic.twitter.com/PUBOW3ydAS— web3 is going just great (@web3isgreat) September 17, 2022
― lag∞n, Thursday, 22 September 2022 22:23 (one year ago) link
if proof of stake coins get classified as securities but proof of work ones dont then it seems pretty unlikely other coins will switch over, i guess the logic is that theres more cooperation between parties in the POS system
― lag∞n, Thursday, 22 September 2022 22:44 (one year ago) link
the ol say youre doing one thing then do another gambit
.@SBF_FTX has built a reputation as a crypto white knight, saving struggling firms through massive investment. But is this true?https://t.co/WyMcBI977D— Protos (@Protos) October 15, 2022
― lag∞n, Saturday, 15 October 2022 12:36 (one year ago) link
huge crypto feature by matt levine https://www.bloomberg.com/features/2022-the-crypto-story/
ive only started it but its probably very good
― lag∞n, Tuesday, 25 October 2022 15:17 (one year ago) link
very adam curtis-like video intro at the top
DISTRUSTTRUSTSATOSHIMININGBLOCKSKEYSWALLETSCONTRACTSNFTSBOOMSWINTERPONZIS
― Karl Malone, Tuesday, 25 October 2022 15:19 (one year ago) link
thank you for the head's up, i'm going to chip away at it today.
― Karl Malone, Tuesday, 25 October 2022 15:21 (one year ago) link
lol true xp
― lag∞n, Tuesday, 25 October 2022 15:21 (one year ago) link
*tips cap*
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iW7vesxsTfGU/v0/3000x-1.jpg
― lag∞n, Tuesday, 25 October 2022 15:22 (one year ago) link
oh no the text is gone lol
https://i.imgur.com/Cbfswzh.png
― lag∞n, Tuesday, 25 October 2022 15:23 (one year ago) link
YES
― Karl Malone, Tuesday, 25 October 2022 15:27 (one year ago) link
Exercise for the reader: I have included some hashes of some texts in this article, and I have talked about the hash of this article, but I haven’t included the hash of this article in the article. Why not? (Believe me, I wanted to.)beats me.
― ledge, Tuesday, 25 October 2022 15:36 (one year ago) link
in general you can't include the hash in the thing you're hashing
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 25 October 2022 15:41 (one year ago) link
if you do, it changes the hash. and finding a an article/hash for which that's not true is computationally infeasible.
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 25 October 2022 15:42 (one year ago) link
of course. a nice logic puzzle, I gave in too easily.
― ledge, Tuesday, 25 October 2022 15:45 (one year ago) link
i'm doing my best here but if bloomberg matt tells me one more time that finance is cool i'm gonna blow my lid
― Karl Malone, Tuesday, 25 October 2022 18:20 (one year ago) link
ive made peace with matts blase finance guy attitude and even come to see at as an aspect of his art, which is obviously giving him too much credit lol hes just actually a finance guy its not that deep
― lag∞n, Tuesday, 25 October 2022 18:51 (one year ago) link
I’ve come to terms with Matt as well. I’m a little disappointed that he some stuff doesn’t concern him more than it does, but at least he’s honest about it. I just want him to stop calling finance cool. That’s over the line
― Karl Malone, Tuesday, 25 October 2022 18:56 (one year ago) link
he finds it interesting which is fair i find it interesting too, but also i hate it, he likes it which is obvs a character flaw, but he pays penance by explaining it to me
― lag∞n, Tuesday, 25 October 2022 19:01 (one year ago) link
im curious to see how deep hes gonna got on the market manipulation aspect of bitcoin here, the possibility that its all totally fake
― lag∞n, Tuesday, 25 October 2022 19:02 (one year ago) link
Society has mechanisms—capitalism, politics, etc.—to allocate resources, with a rough heuristic of: “The more good stuff you do for society, the more good stuff you get for yourself.”um...
― ledge, Wednesday, 26 October 2022 20:41 (one year ago) link
weird conclusion as well, which goes against the tone of the rest of the article where he's a wide eyed fan boy about the 'cool' financial stuff but sceptical about real world applications.
― ledge, Wednesday, 26 October 2022 20:57 (one year ago) link
i mean he's writing for bloomberg, i guess he can't just pedal-to-the-metal on "you love the market you get the hose"
― mark s, Wednesday, 26 October 2022 20:59 (one year ago) link
if you are a regular reader of his column the whole piece, including the conclusion, is vmic
― 龜, Thursday, 27 October 2022 14:06 (one year ago) link
BREAKING: FTX appears to have stopped processing withdrawals, on-chain data showhttps://t.co/jc9EvTcSJu— The Block (@TheBlock__) November 8, 2022
― lag∞n, Tuesday, 8 November 2022 14:21 (one year ago) link
they are doing a bank run on bankman-fried
― 龜, Tuesday, 8 November 2022 14:33 (one year ago) link
bank man fried indeed
― lag∞n, Tuesday, 8 November 2022 14:44 (one year ago) link
good detail on the not-at-all shady and/or goofy location of the relevant computer
pic.twitter.com/OxniLnsEUx— web3 is going just great (@web3isgreat) November 7, 2022
― mark s, Tuesday, 8 November 2022 16:45 (one year ago) link
lol youre like hidden safe alright makes sense, under some blankets....
― lag∞n, Tuesday, 8 November 2022 16:48 (one year ago) link
these days they have wallets that are on their own weird lil encrypted networks so you dont really have to have yr coins on hardware you just need your seed phrase https://electrum.readthedocs.io/en/latest/faq.html?highlight=server
dont think that was invented when the guy did the heist tho, or maybe he didnt trust them, but idk id prob trust them over a thumb drive in the floor
― lag∞n, Tuesday, 8 November 2022 17:08 (one year ago) link
1) Hey all: I have a few announcements to make.Things have come full circle, and https://t.co/DWPOotRHcX’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for https://t.co/DWPOotRHcX (pending DD etc.).— SBF (@SBF_FTX) November 8, 2022
FTX investor tells me that the company has not yet sent them any information on the deal. Says all he knows is what he's seeing on Twitter.— Dan Primack (@danprimack) November 8, 2022
― lag∞n, Tuesday, 8 November 2022 17:14 (one year ago) link
hey all exchange was imploding someone elses problem now lol
― lag∞n, Tuesday, 8 November 2022 17:18 (one year ago) link
the guy who caused the exchange to implode is now gonna own the exchange
― 龜, Tuesday, 8 November 2022 17:23 (one year ago) link
thats called being a big business guy
― lag∞n, Tuesday, 8 November 2022 17:25 (one year ago) link
so the binance ceo examined ftx's holdings (via unknown means) and saw that he could tank ftx by selling the ftx token, did exactly that, and now gets to buy ftx for the cheap? lol
― 龜, Tuesday, 8 November 2022 17:27 (one year ago) link
the other piece is that he caused a bank run by suggesting publicly that there could be a bank run, doesnt seem good for crypto exchanges/defi/whatever, lil too easy
― lag∞n, Tuesday, 8 November 2022 17:31 (one year ago) link
so much of crypto is not only fake its double fake, like the ftx coin was priced at x number of dollars but on very low volume, obviously its fake in the first place its crypto but its fake again because theres really not enough trading for real price discovery, and its very sensitive to market manipulation or just someone who owns a lot of it saying it sucks
― lag∞n, Tuesday, 8 November 2022 17:39 (one year ago) link
binance is under active and regular SEC scrutiny IIUC, but any port in a storm i guess.
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 8 November 2022 17:41 (one year ago) link
also isn't it illegal for US citizens to use some (all?) binance services?
― 𝔠𝔞𝔢𝔨 (caek), Tuesday, 8 November 2022 17:42 (one year ago) link
i think theyre just buying the non us stuff ftx.com, theres another site/org ftx.us for usa
― lag∞n, Tuesday, 8 November 2022 17:43 (one year ago) link
yeah valuations are inherently fuzzy / more of an art that a science, feel like i've read of a few crypto scams that happened because some smart contract that hardcoded valuation as last traded price X current number of coins outstanding without accounting for any other factors and got obliterated as a result lol xp
― 龜, Tuesday, 8 November 2022 17:45 (one year ago) link
lol nearly 10% drop today, fun cuz the affiliate I signed up for poker rakeback with pays out on the 7th and can only pay in BTC and my stupid ass for some reason decided "eh I'll cash it in tomorrow"
― frogbs, Tuesday, 8 November 2022 18:26 (one year ago) link
It's wild to me that it's still hanging in there around $18-19k, has sort of stabilized for the moment.
I sometimes think it will just stick around for a while as a relatively easy way to move wealth, like basically rich people who want to be able to cross borders with massive amounts of assets on short notice will just keep some chunk of change in btc and other crypto. BTC market cap is now just under $400B, but you have to assume a huge % of that is in lost wallets.
― longtime caller, first time listener (man alive), Tuesday, 8 November 2022 18:41 (one year ago) link
still deep pockets out there who have an interest in keeping the price up
― lag∞n, Tuesday, 8 November 2022 18:56 (one year ago) link
yea I mean I don't really see online poker going back, since crypto means you don't have to follow all the insane banking regulations propped up to make moving cash around incredibly difficult for gambling sites. I have (reluctantly) learned to use it and I'm not crazy about all the fees but hey, it's better than what we had before.
― frogbs, Tuesday, 8 November 2022 19:00 (one year ago) link
yeah the only time i did crypto was to move poker money around, think i still have a fraction of a bitcoin in some wallet somewhere
― lag∞n, Tuesday, 8 November 2022 19:04 (one year ago) link
now is the time to bet it all on red 23, as they say in poker circles
― Karl Malone, Tuesday, 8 November 2022 19:06 (one year ago) link
were online poker to be legalized across the usa im sure theyd use normal banking tho, bitcoin is just too much of a technical hurdle for most people, and a pain in the ass even for those who can get it to work
― lag∞n, Tuesday, 8 November 2022 19:06 (one year ago) link
i bought like $200 of bitcoin in like 2016 or 2017 in order to buy film from some guy living in japan who was already a true cryptovangelist at the time... had like $10 leftover after i bought the film... when i logged on last year during the crypto boom it was worth 10x or something, i can see the appeal lol
― 龜, Tuesday, 8 November 2022 19:11 (one year ago) link
right, I think a lot of younger online players don't know that this actually used to be a lot easier. I used to be able to take money out of one site, put it in another, clear a bonus, then have the money in my bank account 5 minutes later, all without any fees whatsoever
― frogbs, Tuesday, 8 November 2022 19:11 (one year ago) link
ah interesting
As Protos reported in August, market makers Alameda Research (spearheaded by crypto billionaire Sam Bankman-Fried) and Cumberland Global (a subsidiary of trading giant DRW) are still the biggest fish in Tether markets.
Together, Alameda and Cumberland received at least $60.3 billion in USDT across the time period analyzed, equal to around 55% of all outbound volume — ever.
$49.2 billion (71%) of Alameda and Cumberland’s USDT was acquired in the past year alone, equal to about 60% of all Tether issued in that time.
https://protos.com/tether-papers-crypto-stablecoin-usdt-investigation-analysis/
― lag∞n, Tuesday, 8 November 2022 21:34 (one year ago) link
https://www.reuters.com/business/finance/crypto-exchange-ftx-saw-6-bln-withdrawals-72-hours-ceo-message-staff-2022-11-08/
― 龜, Tuesday, 8 November 2022 22:39 (one year ago) link
To put the $6b in 72 hours into context: The biggest bank run in US history was WaMu in 2008, which totaled $16.7b in 9 days https://t.co/pCB0lCZoNM— Felix Salmon (@felixsalmon) November 8, 2022
they did that boy dirty lol
― lag∞n, Tuesday, 8 November 2022 23:33 (one year ago) link
Lol
Larry David was right #FTX #FTXCRASH pic.twitter.com/x7BVFA8dpS— Edgar Alan Dough🏋🏼♂️📈🅱️ (@edgaralandough) November 8, 2022
― frogbs, Tuesday, 8 November 2022 23:49 (one year ago) link
it was a beautiful dream
https://i.imgur.com/JgzRd4h.png
― lag∞n, Tuesday, 8 November 2022 23:53 (one year ago) link
Tron based algorithmic stablecoin $USDD has begun to depeg and is trading at $0.985 pic.twitter.com/cNA3nJ0P6T— Dylan LeClair 🟠 (@DylanLeClair_) November 9, 2022
― lag∞n, Wednesday, 9 November 2022 15:25 (one year ago) link
lol, course as soon as I say it's stabilizing, it hits a new 52-week low.
― longtime caller, first time listener (man alive), Wednesday, 9 November 2022 15:27 (one year ago) link
didnt take long
Here comes the SEC and the CFTC https://t.co/yGg2H4K6qw— Silvia Killingsworth (@silviakillings) November 9, 2022
― lag∞n, Wednesday, 9 November 2022 16:17 (one year ago) link
be funny if SBF ends up on the run like do kwon
― 龜, Wednesday, 9 November 2022 16:21 (one year ago) link
they should be roommates on a super yacht
― lag∞n, Wednesday, 9 November 2022 16:21 (one year ago) link
hahah i missed that even do kwon is scoring points here
https://t.co/zBKU98Nmef pic.twitter.com/S1PyYnqpBx— Do Kwon 🌕 (@stablekwon) November 8, 2022
― 龜, Wednesday, 9 November 2022 16:22 (one year ago) link
down 16% over the last 24 hours lmao
― frogbs, Wednesday, 9 November 2022 16:22 (one year ago) link
lmao love when fugitives keep tweeting good stuff
― lag∞n, Wednesday, 9 November 2022 16:23 (one year ago) link
tbf to SBF he was the second biggest donor to progressive candidates behind my main man soros in the 2022 election cycle. it's good that this happened on election day and not any earlier!
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 9 November 2022 17:24 (one year ago) link
internet still saying "3311 billionaires", we need the site with the billionaire-counter
― mark s, Wednesday, 9 November 2022 17:34 (one year ago) link
internet saying 311 the billionaires of sick tunes
― lag∞n, Wednesday, 9 November 2022 17:38 (one year ago) link
yeah I kinda feel bad for SBF to the extent you can feel bad for a cryptobro, he's a charismatic guy who's clearly very smart and you def get the sense that he thinks that as long as he stays one step further ahead of everybody else he won't get eaten by the bear, guess he got eaten by the bear
― 龜, Wednesday, 9 November 2022 18:32 (one year ago) link
SBF had the hilarious podcast where he basically said the quiet part out loud
https://www.bloomberg.com/news/articles/2022-04-25/sam-bankman-fried-described-yield-farming-and-left-matt-levine-stunned
Matt Levine: (21:17)Can you give me an intuitive understanding of farming? I mean, like to me, farming is like you sell some structured puts and collect premium, but perhaps there's a more sophisticated understanding than that.Sam Bankman-Fried: (21:28)Let me give you sort of like a really toy model of it, which I actually think has a surprising amount of legitimacy for what farming could mean. You know, where do you start? You start with a company that builds a box and in practice this box, they probably dress it up to look like a life-changing, you know, world-altering protocol that's gonna replace all the big banks in 38 days or whatever. Maybe for now actually ignore what it does or pretend it does literally nothing. It's just a box. So what this protocol is, it's called ‘Protocol X,’ it's a box, and you take a token. You can take ethereum, you can put it in the box and you take it out of the box. Alright so, you put it into the box and you get like, you know, an IOU for having put it in the box and then you can redeem that IOU back out for the token.So far what we've described is the world's dumbest ETF or ADR or something like that. It doesn't do anything but let you put things in it if you so choose. And then this protocol issues a token, we'll call it whatever, ‘X token.’ And X token promises that anything cool that happens because of this box is going to ultimately be usable by, you know, governance vote of holders of the X tokens. They can vote on what to do with any proceeds or other cool things that happen from this box. And of course, so far, we haven't exactly given a compelling reason for why there ever would be any proceeds from this box, but I don't know, you know, maybe there will be, so that's sort of where you start.And then you say, alright, well, you’ve got this box and you’ve got X token and the box protocol declares, or maybe votes by on-chain governance, or, you know, something like that, that what they're gonna do is they are going to take half of all the X tokens that were re-minted. Maybe two thirds will, two thirds will offer X tokens, and they're going to give them away for free to whoever uses the box. So anyone who goes, takes some money, puts in the box, each day they're gonna airdrop, you know, 1% of the X token pro rata amongst everyone who's put money in the box. That's for now, what X token does, it gets given away to the box people. And now what happens? Well, X token has some market cap, right? It's probably not zero. Let say it's, you know, a $20 million market …Matt: (23:56)Wait, wait, wait, from like first principles, it should be zero, but okay.SBF: (23:59)Uh, sure. Okay. Completely reasonable comments.Matt: (24:04)I mean, that's not quite true, but, like, when you describe it in this totally cynical way, it sounds like it should be zero, but go on.SBF: (24:10)Describe it this way, you might think, for instance, that in like five minutes with an internet connection, you could create such a box and such a token, and that it should reflect like, you know, it should be worth like $180 or something market cap for like that, you know, that effort that you put into it. In the world that we're in, if you do this, everyone's gonna be like, ‘Ooh, box token. Maybe it's cool. If you buy in box token,’ you know, that's gonna appear on Twitter and it’ll have a $20 million market cap. And of course, one thing that you could do is you could like make the float very low and whatever, you know, maybe there haven't been $20 million dollars that have flowed into it yet. Maybe that's sort of like, is it, you know, mark to market fully diluted valuation or something, but I acknowledge that it's not totally clear that this thing should have market cap, but empirically I claim it would have market cap.Matt: (24:57)I agree.Joe: (24:59)It shouldn't have any market cap in theory, but it practice, they always do. Okay.SBF: (25:03)That's right. So, and obviously already we're sort of hiding some of the magic impact, right? Like some of the magic is in like, how do you get that market cap to start with, but, you know, whatever we're gonna move on from that for a second. So, you know, X tokens [are] being given out each day, all these like sophisticated firms are like, huh, that's interesting. Like if the total amount of money in the box is a hundred million dollars, then it's going to yield $16 million this year in X tokens being given out for it. That's a 16% return. That's pretty good. We'll put a little bit more in, right? And maybe that happens until there are $200 million dollars in the box. So, you know, sophisticated traders and/or people on Crypto Twitter, or other sort of similar parties, go and put $200 million in the box collectively and they start getting these X tokens for it.And now all of a sudden everyone's like, wow, people just decide to put $200 million in the box. This is a pretty cool box, right? Like this is a valuable box as demonstrated by all the money that people have apparently decided should be in the box. And who are we to say that they're wrong about that? Like, you know, this is, I mean boxes can be great. Look, I love boxes as much as the next guy. And so what happens now? All of a sudden people are kind of recalibrating like, well, $20 million, that's it? Like that market cap for this box? And it's been like 48 hours and it already is $200 million, including from like sophisticated players in it. They're like, come on, that's too low. And they look at these ratios, TVL, total value locked in the box, you know, as a ratio to market cap of the box’s token.SBF: (26:43)And they’re like ‘10X’ that's insane. 1X is the norm.’ And so then, you know, X token price goes way up. And now it's $130 million market cap token because of, you know, the bullishness of people's usage of the box. And now all of a sudden of course, the smart money's like, oh, wow, this thing's now yielding like 60% a year in X tokens. Of course I'll take my 60% yield, right? So they go and pour another $300 million in the box and you get a psych and then it goes to infinity. And then everyone makes money.Matt: (27:13)I think of myself as like a fairly cynical person. And that was so much more cynical than how I would've described farming. You're just like, well, I'm in the Ponzi business and it's pretty good.Joe Weisenthal: (27:27)At no point did any of this require any sort of like economic case, it’s just like other people put money in the box. And so I'm going to too, and then it's more valuable. So they're gonna put more money in, and at no point in the cycle, did it seem to like, describe any sort of like economic purpose?SBF: (27:42)So on the one hand, I think that’s a pretty reasonable response, but let me play around with this a little bit. Because that's one framing of this. And I think there's like a sort of depressing amount of validity…Matt: (27:53)Can you comment on like the sustainability of that? Because, you know, on the one hand you're like, well, a trillion dollars of institutional money is going to come into Bitcoin. And on the other hand you're like basically there are a lot of Ponzis that have done really well.SBF: (28:06)Right. So let me, okay, cool. I'll stay on the cynical route, think about like cynically, what could happen here? Well, okay. So you've got this boxes and it’s kind of dumb, but like what's the end game, right? This box is worth zero obviously. And like that, you know, you can't like keep this smart cap or something. But on the other hand, if everyone kind of now thinks that this box token is worth about a billion dollar market cap, that's what people are pricing it at and sort of has that market cap. Everyone's gonna mark to market. In fact, you can even finance this, right? You put X token in a borrow lending protocol and borrow dollars with it. If you think it's worth like less than two thirds of that, you could even just like put some in there, take the dollars out. Never, you know, give the dollars back. You just get liquidated eventually. And it is sort of like real monetizable stuff in some senses. And you know, at some point if the world never decides that we are wrong about this in like a coordinated way, right? Like you're kind of the guy calling and saying, no, this thing's actually worthless, but in what sense are you right?Tracy Alloway: (29:15)Can I just ask on this point, I mean, so are you saying that the value has to derive from everyone agreeing that it's worth something? And I know like on the one hand, that seems like a simple point about crypto, but on the other hand, throughout crypto's history, there have been these different arguments about how it actually gets value, you know, use cases for the underlying technology — for blockchain. Everyone's gonna start migrating stuff on blockchain, and then you're gonna have a real economic use attached to these assets. And that's where the value's gonna come from. But are you saying that it depends more on everyone just agreeing that these are worth something?SBF: (29:53)So really what I'd say is that it could come in theory from either. You can sort of get a market cap either because of cash flow and then Warren Buffett's like f*ck this. Like, I'm going to buy this if it's at too cheap of a price, because I'll just buy it and own it and get cashflow from it. And that's great. Or you could see something get market cap in the way that, I don't know, Doge coin or SHIB coin have, where people are just kinda like ‘ha ha’ and then they buy it. And if you're like, that's dumb, it has no cashflow flow. I'm gonna short sell it. You lose all your money. And, you know, those like, at least like over the last few years, those have both been ways that assets have gotten market cap. And I sort of like think that this starts to hint at like, at least some interesting angles on this, because it's not just cryptocurrencies that have had this dynamic, right? How about like, you know, AMC or Hertz or GameStop or meme stocks in general have like a very similar pattern to this and the sort of concept of maybe people will pay something for it even though it doesn't seem traditionally valuable, is not a crypto specific concept. Although it certainly has become like…
Matt Levine: (21:17)Can you give me an intuitive understanding of farming? I mean, like to me, farming is like you sell some structured puts and collect premium, but perhaps there's a more sophisticated understanding than that.
Sam Bankman-Fried: (21:28)Let me give you sort of like a really toy model of it, which I actually think has a surprising amount of legitimacy for what farming could mean. You know, where do you start? You start with a company that builds a box and in practice this box, they probably dress it up to look like a life-changing, you know, world-altering protocol that's gonna replace all the big banks in 38 days or whatever. Maybe for now actually ignore what it does or pretend it does literally nothing. It's just a box. So what this protocol is, it's called ‘Protocol X,’ it's a box, and you take a token. You can take ethereum, you can put it in the box and you take it out of the box. Alright so, you put it into the box and you get like, you know, an IOU for having put it in the box and then you can redeem that IOU back out for the token.
So far what we've described is the world's dumbest ETF or ADR or something like that. It doesn't do anything but let you put things in it if you so choose. And then this protocol issues a token, we'll call it whatever, ‘X token.’ And X token promises that anything cool that happens because of this box is going to ultimately be usable by, you know, governance vote of holders of the X tokens. They can vote on what to do with any proceeds or other cool things that happen from this box. And of course, so far, we haven't exactly given a compelling reason for why there ever would be any proceeds from this box, but I don't know, you know, maybe there will be, so that's sort of where you start.
And then you say, alright, well, you’ve got this box and you’ve got X token and the box protocol declares, or maybe votes by on-chain governance, or, you know, something like that, that what they're gonna do is they are going to take half of all the X tokens that were re-minted. Maybe two thirds will, two thirds will offer X tokens, and they're going to give them away for free to whoever uses the box. So anyone who goes, takes some money, puts in the box, each day they're gonna airdrop, you know, 1% of the X token pro rata amongst everyone who's put money in the box. That's for now, what X token does, it gets given away to the box people. And now what happens? Well, X token has some market cap, right? It's probably not zero. Let say it's, you know, a $20 million market …
Matt: (23:56)Wait, wait, wait, from like first principles, it should be zero, but okay.
SBF: (23:59)Uh, sure. Okay. Completely reasonable comments.
Matt: (24:04)I mean, that's not quite true, but, like, when you describe it in this totally cynical way, it sounds like it should be zero, but go on.
SBF: (24:10)Describe it this way, you might think, for instance, that in like five minutes with an internet connection, you could create such a box and such a token, and that it should reflect like, you know, it should be worth like $180 or something market cap for like that, you know, that effort that you put into it. In the world that we're in, if you do this, everyone's gonna be like, ‘Ooh, box token. Maybe it's cool. If you buy in box token,’ you know, that's gonna appear on Twitter and it’ll have a $20 million market cap. And of course, one thing that you could do is you could like make the float very low and whatever, you know, maybe there haven't been $20 million dollars that have flowed into it yet. Maybe that's sort of like, is it, you know, mark to market fully diluted valuation or something, but I acknowledge that it's not totally clear that this thing should have market cap, but empirically I claim it would have market cap.
Matt: (24:57)I agree.
Joe: (24:59)It shouldn't have any market cap in theory, but it practice, they always do. Okay.
SBF: (25:03)That's right. So, and obviously already we're sort of hiding some of the magic impact, right? Like some of the magic is in like, how do you get that market cap to start with, but, you know, whatever we're gonna move on from that for a second. So, you know, X tokens [are] being given out each day, all these like sophisticated firms are like, huh, that's interesting. Like if the total amount of money in the box is a hundred million dollars, then it's going to yield $16 million this year in X tokens being given out for it. That's a 16% return. That's pretty good. We'll put a little bit more in, right? And maybe that happens until there are $200 million dollars in the box. So, you know, sophisticated traders and/or people on Crypto Twitter, or other sort of similar parties, go and put $200 million in the box collectively and they start getting these X tokens for it.
And now all of a sudden everyone's like, wow, people just decide to put $200 million in the box. This is a pretty cool box, right? Like this is a valuable box as demonstrated by all the money that people have apparently decided should be in the box. And who are we to say that they're wrong about that? Like, you know, this is, I mean boxes can be great. Look, I love boxes as much as the next guy. And so what happens now? All of a sudden people are kind of recalibrating like, well, $20 million, that's it? Like that market cap for this box? And it's been like 48 hours and it already is $200 million, including from like sophisticated players in it. They're like, come on, that's too low. And they look at these ratios, TVL, total value locked in the box, you know, as a ratio to market cap of the box’s token.
SBF: (26:43)And they’re like ‘10X’ that's insane. 1X is the norm.’ And so then, you know, X token price goes way up. And now it's $130 million market cap token because of, you know, the bullishness of people's usage of the box. And now all of a sudden of course, the smart money's like, oh, wow, this thing's now yielding like 60% a year in X tokens. Of course I'll take my 60% yield, right? So they go and pour another $300 million in the box and you get a psych and then it goes to infinity. And then everyone makes money.
Matt: (27:13)I think of myself as like a fairly cynical person. And that was so much more cynical than how I would've described farming. You're just like, well, I'm in the Ponzi business and it's pretty good.
SBF: (28:06)Right. So let me, okay, cool. I'll stay on the cynical route, think about like cynically, what could happen here? Well, okay. So you've got this boxes and it’s kind of dumb, but like what's the end game, right? This box is worth zero obviously. And like that, you know, you can't like keep this smart cap or something. But on the other hand, if everyone kind of now thinks that this box token is worth about a billion dollar market cap, that's what people are pricing it at and sort of has that market cap. Everyone's gonna mark to market. In fact, you can even finance this, right? You put X token in a borrow lending protocol and borrow dollars with it. If you think it's worth like less than two thirds of that, you could even just like put some in there, take the dollars out. Never, you know, give the dollars back. You just get liquidated eventually. And it is sort of like real monetizable stuff in some senses. And you know, at some point if the world never decides that we are wrong about this in like a coordinated way, right? Like you're kind of the guy calling and saying, no, this thing's actually worthless, but in what sense are you right?
Tracy Alloway: (29:15)Can I just ask on this point, I mean, so are you saying that the value has to derive from everyone agreeing that it's worth something? And I know like on the one hand, that seems like a simple point about crypto, but on the other hand, throughout crypto's history, there have been these different arguments about how it actually gets value, you know, use cases for the underlying technology — for blockchain. Everyone's gonna start migrating stuff on blockchain, and then you're gonna have a real economic use attached to these assets. And that's where the value's gonna come from. But are you saying that it depends more on everyone just agreeing that these are worth something?
SBF: (29:53)So really what I'd say is that it could come in theory from either. You can sort of get a market cap either because of cash flow and then Warren Buffett's like f*ck this. Like, I'm going to buy this if it's at too cheap of a price, because I'll just buy it and own it and get cashflow from it. And that's great. Or you could see something get market cap in the way that, I don't know, Doge coin or SHIB coin have, where people are just kinda like ‘ha ha’ and then they buy it. And if you're like, that's dumb, it has no cashflow flow. I'm gonna short sell it. You lose all your money. And, you know, those like, at least like over the last few years, those have both been ways that assets have gotten market cap. And I sort of like think that this starts to hint at like, at least some interesting angles on this, because it's not just cryptocurrencies that have had this dynamic, right? How about like, you know, AMC or Hertz or GameStop or meme stocks in general have like a very similar pattern to this and the sort of concept of maybe people will pay something for it even though it doesn't seem traditionally valuable, is not a crypto specific concept. Although it certainly has become like…
― 龜, Wednesday, 9 November 2022 18:33 (one year ago) link
Oh man, I remember listening to that Ep, I was floored.
― longtime caller, first time listener (man alive), Wednesday, 9 November 2022 18:39 (one year ago) link
Matt should hire him as an intern
― G. D’Arcy Cheesewright (silby), Wednesday, 9 November 2022 19:18 (one year ago) link
wkd continue his streak of being overly generous to crypto guys
― lag∞n, Wednesday, 9 November 2022 19:21 (one year ago) link
I think he likes that he gets to cover all sorts of shit that a bank would never do because it’s obviously stupid or illegal
― G. D’Arcy Cheesewright (silby), Wednesday, 9 November 2022 19:24 (one year ago) link
based on the bitcoin article he thinks the crypto system is legit because it exists, but i disagree i think its fraudulent and fake
― lag∞n, Wednesday, 9 November 2022 19:33 (one year ago) link
Yeah that’s fair, you should send him an email
― G. D’Arcy Cheesewright (silby), Wednesday, 9 November 2022 20:02 (one year ago) link
https://www.coindesk.com/business/2022/11/09/binance-is-strongly-leaning-toward-scrapping-ftx-rescue-takeover-after-first-glance-at-books-source/
sort of want to just post the jack nicholson hand rubbing gif in response to all future news about ftx
― 龜, Wednesday, 9 November 2022 20:39 (one year ago) link
As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of https://t.co/FQ3MIG381f.— Binance (@binance) November 9, 2022
― 龜, Wednesday, 9 November 2022 21:16 (one year ago) link
ha they really fucked em, can only tip your cap
― lag∞n, Wednesday, 9 November 2022 21:25 (one year ago) link
Every time a major player in an industry fails, retail consumers will suffer. We have seen over the last several years that the crypto ecosystem is becoming more resilient and we believe in time that outliers that misuse user funds will be weeded out by the free market.— Binance (@binance) November 9, 2022
the outliers such as *checks documents* the second largest exchange in world, which was largely thought to be solid a few days ago
― lag∞n, Wednesday, 9 November 2022 21:34 (one year ago) link
― lag∞n, Tuesday, November 8, 2022 9:44 AM (yesterday)
― 龜, Wednesday, 9 November 2022 21:41 (one year ago) link
FTX gone pic.twitter.com/oOcntEuYzz— Cobie (@cobie) November 9, 2022
― lag∞n, Wednesday, 9 November 2022 21:56 (one year ago) link
called it https://ez.substack.com/p/the-death-of-a-statesman
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 9 November 2022 21:56 (one year ago) link
where my apes? xp
good work ed
― lag∞n, Wednesday, 9 November 2022 22:01 (one year ago) link
i hadn't noticed $BTC today. mark it to zero.
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 9 November 2022 22:24 (one year ago) link
seems like some light perjury?
HOLY SHITIn front of a room of lawmakers… pic.twitter.com/7aGWdJ0l9W— MrChief (@HaloCrypto) November 9, 2022
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 9 November 2022 22:29 (one year ago) link
"why am i saying this i should stop i cant stop"
― lag∞n, Wednesday, 9 November 2022 22:31 (one year ago) link
am i making this up or was ed zitron part of the weird twitter wave initially?
― 龜, Wednesday, 9 November 2022 23:01 (one year ago) link
he was at least adjacent i think
― lag∞n, Wednesday, 9 November 2022 23:05 (one year ago) link
https://www.businessinsider.com/weird-twitter-2012-12#-4
https://i.ibb.co/2F110JK/image.png
seems like he's deleted all his weird twitter tweets lol
― 龜, Wednesday, 9 November 2022 23:13 (one year ago) link
bitcoin twitter is so fucking demented, everything is good news no matter what
The FTX situation, imo, makes #Bitcoin stronger.— Pulte (@pulte) November 9, 2022
If you do understand #Bitcoin , you would know bear markets are the best time for accumulation. Don’t panic #buy and #hodl. The bull run is preordained However I recommend you all follow @Kw_90t she’s a super underrated bitcoiner. Smart tips. I’ve been doing great.— Decery Muyco (@akacsai) November 9, 2022
I'm memorializing the FTX collapse with the purchase of my first bitcoin miner. Bear markets are for building right?— Bitcoin Pleb (@BitcoinPrecept) November 9, 2022
Well there's 1 silver lining to all of this;The peak in Bitcoin was 1 year ago. So as far as year over year change is gonna be, this week's probably the worst it's gonna get.That said - you bought the top, you're down -72.79% now.Slightly better than ARKK's -72.99%.— Deso, God of Vision - Now Patent-Pending! (@DesoGames) November 9, 2022
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Wednesday, 9 November 2022 23:18 (one year ago) link
incredible ability to attracted suckers one of the alltime scams
― lag∞n, Wednesday, 9 November 2022 23:20 (one year ago) link
don't harsh my mellow i'm just happy i'm down -72.79%, can't imagine where I'd be if I were down -72.99% *shudders*
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Wednesday, 9 November 2022 23:22 (one year ago) link
Holy cow it’s dropping fast
― frogbs, Wednesday, 9 November 2022 23:29 (one year ago) link
down 15% today, thats a lot of percent baby
― lag∞n, Wednesday, 9 November 2022 23:32 (one year ago) link
At least my IRA is having a better year than Bitcoin!
― G. D’Arcy Cheesewright (silby), Wednesday, 9 November 2022 23:34 (one year ago) link
Further proving my theory that anytime I think a stock or investment scheme is going to tank, it will only tank the moment I have finally given up on it ever tanking.
― longtime caller, first time listener (man alive), Wednesday, 9 November 2022 23:46 (one year ago) link
My coins!!!
― Jeff, Thursday, 10 November 2022 00:47 (one year ago) link
interesting if true
This is a good explanation of the FTX situation by @matthewstoller pic.twitter.com/0u9uVnmdnR— can (@can) November 10, 2022
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 10 November 2022 01:11 (one year ago) link
now do bitcoin haha
― lag∞n, Thursday, 10 November 2022 01:52 (one year ago) link
ppl on twitter saying bankman f is personally bankrupt that hes got 100s of millions of dollars in personally secured loans
― lag∞n, Thursday, 10 November 2022 01:58 (one year ago) link
They’re gonna slice him up for parts
― G. D’Arcy Cheesewright (silby), Thursday, 10 November 2022 01:59 (one year ago) link
normal
To safeguard the overall blockchain industry and crypto market, TRON DAO Reserve will purchase total 1 billion USDT. You may see the change of balance on https://t.co/L52UWqhmkR and all the reserve will be in CEXs.— TRON DAO Reserve (@trondaoreserve) November 10, 2022
Tether has just frozen FTX's USDT pic.twitter.com/G4gdl2wMqt— Pentoshi 🐧 (@Pentosh1) November 10, 2022
― lag∞n, Thursday, 10 November 2022 14:54 (one year ago) link
a billion new tethers minted bitcoin price goes back up its weird like that
17,570.20USD+1,665.80 (10.47%)today
― lag∞n, Thursday, 10 November 2022 15:05 (one year ago) link
It's a testament to crypto that I've been reading this thread forever and I still don't understand it, but I guess my question is - what is the point of a crypto currency if it has to be backed by the evil fiat currency they hate?
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Thursday, 10 November 2022 15:06 (one year ago) link
the plan is to grow to the point where bitcoin becomes more powerful than the dollar, doesnt need the dollar anymore, becomes the dollar, or at least thats their story
― lag∞n, Thursday, 10 November 2022 15:08 (one year ago) link
When tether goes it’s over right?
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 10 November 2022 15:09 (one year ago) link
yeap
― lag∞n, Thursday, 10 November 2022 15:10 (one year ago) link
https://web.archive.org/web/20221109230422/https://www.sequoiacap.com/article/sam-bankman-fried-spotlight/
FTX did need money, after all. And it needed that money from credible sources so it could continue to distinguish itself from the bottom-feeders who came to crypto to fleece the suckers. So, in the summer of 2021, when FTX started to raise its Series B from a who’s who of Silicon Valley VCs, Bailhe and Lin hit the “Don’t Panic” button. “Embarrassingly, we had never tried to reach out to Sam, because we figured he didn’t need us,” Bailhe admits. “I thought they were just minting money and had absolutely no need for investors.” Learning otherwise, they quickly contacted SBF and organized a last-minute Zoom call between him and the partners at Sequoia—at four California time on a hot July Friday afternoon. Bailhe was adamant, putting her reputation with the other partners on the line: “I’m like, ‘No, it’s worth it. Cancel your afternoon.’”The Zoom went well for all concerned. SBF looked relaxed as he answered questions, talking, as he usually does, in complete paragraphs about topics of extreme complexity. Ramnik Arora, FTX’s head of product and another ex-Facebook engineer, remembers the meeting clearly: “We’re getting all these questions from Sequoia toward the end. He’s absolutely fantastic.” Arora locks eyes with me, and I am mesmerized. Arora is intense—calling to mind a Bollywood version of Adrian Brody. “Unbelievably fantastic,” he says, shaking his head.Bailhe remembers it the same way: “We had a great meeting with Sam, but the last question, which I remember Alfred asking, was, ‘So, everything you’re building is great, but what is your long-term vision for FTX?’”That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a banana. You can do anything you want with your money from inside FTX.”Suddenly, the chat window on Sequoia’s side of the Zoom lights up with partners freaking out.“I LOVE THIS FOUNDER,” typed one partner.“I am a 10 out of 10,” pinged another. “YES!!!” exclaimed a third.What Sequoia was reacting to was the scale of SBF’s vision. It wasn’t a story about how we might use fintech in the future, or crypto, or a new kind of bank. It was a vision about the future of money itself—with a total addressable market of every person on the entire planet.“I sit ten feet from him, and I walked over, thinking, Oh, shit, that was really good,” remembers Arora. “And it turns out that that fucker was playing League of Legends through the entire meeting.”“We were incredibly impressed,” Bailhe says. “It was one of those your-hair-is-blown-back type of meetings.” Not only that, Arora says, but League of Legends is the kind of multiplayer online battle arena video game where every four minutes or so of tactical maneuvering is punctuated by ten seconds of action known as a gank—gamer slang for “gang killing”—where you and your team gang up on an enemy. “There’s a fight that happens, basically,” says Arora, who was watching over SBF’s shoulder as he answered that final question from Sequoia, “and I’m like, This guy is fucking in a gank!”The B round raised a billion dollars. Soon afterward came the “meme round”: $420.69 million from 69 investors.
The Zoom went well for all concerned. SBF looked relaxed as he answered questions, talking, as he usually does, in complete paragraphs about topics of extreme complexity. Ramnik Arora, FTX’s head of product and another ex-Facebook engineer, remembers the meeting clearly: “We’re getting all these questions from Sequoia toward the end. He’s absolutely fantastic.” Arora locks eyes with me, and I am mesmerized. Arora is intense—calling to mind a Bollywood version of Adrian Brody. “Unbelievably fantastic,” he says, shaking his head.
Bailhe remembers it the same way: “We had a great meeting with Sam, but the last question, which I remember Alfred asking, was, ‘So, everything you’re building is great, but what is your long-term vision for FTX?’”
That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a banana. You can do anything you want with your money from inside FTX.”
Suddenly, the chat window on Sequoia’s side of the Zoom lights up with partners freaking out.
“I LOVE THIS FOUNDER,” typed one partner.
“I am a 10 out of 10,” pinged another.
“YES!!!” exclaimed a third.
What Sequoia was reacting to was the scale of SBF’s vision. It wasn’t a story about how we might use fintech in the future, or crypto, or a new kind of bank. It was a vision about the future of money itself—with a total addressable market of every person on the entire planet.
“I sit ten feet from him, and I walked over, thinking, Oh, shit, that was really good,” remembers Arora. “And it turns out that that fucker was playing League of Legends through the entire meeting.”
“We were incredibly impressed,” Bailhe says. “It was one of those your-hair-is-blown-back type of meetings.”
Not only that, Arora says, but League of Legends is the kind of multiplayer online battle arena video game where every four minutes or so of tactical maneuvering is punctuated by ten seconds of action known as a gank—gamer slang for “gang killing”—where you and your team gang up on an enemy. “There’s a fight that happens, basically,” says Arora, who was watching over SBF’s shoulder as he answered that final question from Sequoia, “and I’m like, This guy is fucking in a gank!”
The B round raised a billion dollars. Soon afterward came the “meme round”: $420.69 million from 69 investors.
― 龜, Thursday, 10 November 2022 19:36 (one year ago) link
These guys are too easily impresssed.
― Lord Pickles (Boring, Maryland), Thursday, 10 November 2022 19:38 (one year ago) link
VCs are the dumbest people on the planet of earth
― G. D’Arcy Cheesewright (silby), Thursday, 10 November 2022 19:39 (one year ago) link
new playbook: run startups like a government
― Karl Malone, Thursday, 10 November 2022 19:53 (one year ago) link
seems very normal this is how companies are usually run i think
Sam Bankman-Fried ran in a polycule that may have destroyed the crypto market pic.twitter.com/8gGtyYXsd5— Ed Zitron (@edzitron) November 10, 2022
― lag∞n, Thursday, 10 November 2022 22:17 (one year ago) link
link https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/
did we finally decide that imaginary money is imaginary or is that still unresolved
― “Cheeky cheeky!” she trills, nearly demolishing a roadside post (forksclovetofu), Friday, 11 November 2022 04:20 (one year ago) link
#Bitcoin completely negates the need for violence by incentivizing trade and peaceful cooperation.Bitcoin Is The Successor To Violence. pic.twitter.com/ruvIlnTto8— The Bitcoin Conference (@TheBitcoinConf) November 10, 2022
― groovemaaan, Friday, 11 November 2022 04:39 (one year ago) link
taking that as "unresolved"
― “Cheeky cheeky!” she trills, nearly demolishing a roadside post (forksclovetofu), Friday, 11 November 2022 04:44 (one year ago) link
"21.7 billion of its own stablecoin BUSD (worth $21.9 billion) and 58 million of its BNB tokens (worth $16 billion)" https://t.co/d6zioco7VC— Matt Novak (@paleofuture) November 10, 2022
― lag∞n, Friday, 11 November 2022 12:18 (one year ago) link
bank: do you have collateralme: as you can see ive written "ten million dollars" on this piece of paper
― lag∞n, Friday, 11 November 2022 13:10 (one year ago) link
tbf all money is made up, BTC didn't get that wrong
― mark s, Friday, 11 November 2022 13:18 (one year ago) link
you should see the sorts of things governments do to people who try to prove that claim
― lag∞n, Friday, 11 November 2022 13:19 (one year ago) link
"The term "millionaire" was coined for beneficiaries of Law's scheme.[7][8]"
https://en.wikipedia.org/wiki/John_Law_(economist)
― mark s, Friday, 11 November 2022 13:20 (one year ago) link
ah very nice
John J. Ray III, the new FTX CEO, previously served as Enron chairman during their liquidation— BennettTom✧✧✧@ms✧✧✧.soc✧✧✧ (@BennettTomlin) November 11, 2022
― lag∞n, Friday, 11 November 2022 15:21 (one year ago) link
Surely this guy will know what not to do
― after several days on “the milk,” (gyac), Friday, 11 November 2022 15:24 (one year ago) link
Bitcoin Is The Successor To Violence
Definitely not a cult.
― jmm, Friday, 11 November 2022 15:27 (one year ago) link
pretty weird how every crypto exchange ends up doing fraud instead of running a normal business
― lag∞n, Friday, 11 November 2022 16:02 (one year ago) link
They keep trying so hard, they just haven't gotten it right yet. They'll keep trying.
― longtime caller, first time listener (man alive), Friday, 11 November 2022 18:12 (one year ago) link
perfect tweet
People are mad at FTX for doing the exact same thing that the banks do every day. Don’t believe me? Walk into your bank and ask to withdraw all your money and see what happens.— Dennis Porter (@Dennis_Porter_) November 10, 2022
― 𝔠𝔞𝔢𝔨 (caek), Friday, 11 November 2022 22:40 (one year ago) link
Some of you are confused. I meant, ask for the cash. If it’s over $10k the bank likely won’t give it to you because they don’t have it.— Dennis Porter (@Dennis_Porter_) November 10, 2022
― lag∞n, Friday, 11 November 2022 22:41 (one year ago) link
How will we find risible dolts to mock without twitter
― G. D’Arcy Cheesewright (silby), Friday, 11 November 2022 22:44 (one year ago) link
honestly i easily get $8 worth
― 𝔠𝔞𝔢𝔨 (caek), Friday, 11 November 2022 22:45 (one year ago) link
Thought it over and decided that the next step for SBF is to go broke and start wearing a tuxedo everywhere.
― New York Review of Wooks (swim), Friday, 11 November 2022 22:55 (one year ago) link
i guess there are downsides also but "im the guy who went from $16bn net worth to $0 net worth" is gnna be a fun thing tell ppl
― mark s, Friday, 11 November 2022 23:35 (one year ago) link
also no way he doesnt have a ton of money parked somewhere
― lag∞n, Friday, 11 November 2022 23:43 (one year ago) link
Crypto Confidence Soars After CEO Defrauds Customers Just Like Real Bank https://t.co/GU4C2V23Sd pic.twitter.com/UjjI0NSTot— The Onion (@TheOnion) November 11, 2022
― StanM, Friday, 11 November 2022 23:46 (one year ago) link
ah weird
Hundreds of millions of dollars are now flowing out of FTX wallets, some speculate liquidators but it's late on a friday night, not typical times for such rapid heavy movements. Some withdrawals are being swapped from Tether to DAI. Hack or insider actions? $26 million here pic.twitter.com/8wWlaE7na9— foobar (@0xfoobar) November 12, 2022
― lag∞n, Saturday, 12 November 2022 04:10 (one year ago) link
whatre u gonna do you know
Former HIGH level FTX insider: "I think this has to be an inside job. There is just no way to have this much root access so quickly. There are too many different wallets and products to pull this off at once."— Autism Capital 🧩 (@AutismCapital) November 12, 2022
― lag∞n, Saturday, 12 November 2022 05:01 (one year ago) link
It’s malware. “Compromised developer account” feels extremely suspicious. Some people are saying DPRK which feels a bit much but at this point who knows. This FTX drama is very chaotic. https://t.co/mhi9gUTvkt— Ed Zitron (@edzitron) November 12, 2022
― lag∞n, Saturday, 12 November 2022 05:03 (one year ago) link
same
"Asked about the missing funds, Bankman-Fried responded: ‘???’" https://t.co/Pvh5L7reGn— Samuel Oakford (@samueloakford) November 12, 2022
― lag∞n, Saturday, 12 November 2022 05:27 (one year ago) link
"@autismcapital"
― 𝔠𝔞𝔢𝔨 (caek), Saturday, 12 November 2022 05:28 (one year ago) link
100k followers lol
― lag∞n, Saturday, 12 November 2022 05:31 (one year ago) link
fucked around, found out
― assert (matttkkkk), Saturday, 12 November 2022 07:19 (one year ago) link
FTX CEO pic.twitter.com/y9yfKSpLEw— Clown World ™ 🤡 (@ClownWorld_) November 12, 2022
― lag∞n, Saturday, 12 November 2022 16:04 (one year ago) link
i was like what theyre only down $500m but then i realized thats just how much was taken in the "hack" last night
$473 million in assets are missing from the reeling cryptocurrency exchange, which just filed for bankruptcy.https://t.co/w0iKwLWhFR— CNN (@CNN) November 12, 2022
― lag∞n, Saturday, 12 November 2022 16:05 (one year ago) link
is it safe to say that FTX is...
https://i.imgur.com/Y7mgHfM.png
outta here?
sorry
― Karl Malone, Saturday, 12 November 2022 17:12 (one year ago) link
in retrospect it was smart to advertise on umpires. baseball crowds _love_ the umpires!
― Karl Malone, Saturday, 12 November 2022 17:13 (one year ago) link
Miami-Dade County and the Miami HEAT have released the following statement pic.twitter.com/ERZo1IsZ2o— Miami HEAT (@MiamiHEAT) November 12, 2022
don't call it a comeback, but BangBros put in a mere $10M bid for the stadium a few years ago and this country needs a winner
We've officially Submitted our $10,000,000 bid for the naming rights to the Miami Heat Arena. We wish to thank American Airlines for their past support of the @MiamiHEAT We intend to change the name to the BangBros Center aka 'The BBC' #BangBrosCares pic.twitter.com/YbhNattIm7— BANG BROS (@BangBrosDotCom1) September 12, 2019
― Karl Malone, Saturday, 12 November 2022 17:32 (one year ago) link
meanwhile SBF doing a DBCooper somewhere between the bahamas and buenos aires
― mark s, Saturday, 12 November 2022 17:38 (one year ago) link
― Karl Malone, Saturday, November 12, 2022 12:13 PM (thirty minutes ago) bookmarkflaglink
lmao yeah odd decision
― lag∞n, Saturday, 12 November 2022 17:44 (one year ago) link
I’m around if anyone needs me for their 4th of July barbecue. Fire it up @FTX_Official 🇺🇸🔥 pic.twitter.com/Gd27fcN5fx— Tom Brady (@TomBrady) July 4, 2022
― lag∞n, Saturday, 12 November 2022 17:46 (one year ago) link
might rewatch ROGUE TRADER (1999) tonight if i can find it somewhere for free
Essentially the plot of this movie where a trader takes down the bank that funded the Louisiana Purchasenot the first time for rhymes https://t.co/QXRA4dvAwF— 🧈Margarine_Call☎️ (@Margarine_Call) November 12, 2022
― mark s, Saturday, 12 November 2022 19:37 (one year ago) link
Lol I keep thinking about that guy who claims you can’t get more than $10,000 out of a bank. Some of these people behave like they literally were born yesterday.
― longtime caller, first time listener (man alive), Saturday, 12 November 2022 21:56 (one year ago) link
have you seen the finance thread?
― the late great, Saturday, 12 November 2022 22:48 (one year ago) link
Lol of course Brady's dumb ass was affiliated
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Sunday, 13 November 2022 00:13 (one year ago) link
say it ain't so
https://www.youtube.com/watch?v=k8CXNZSSKZc
― Karl Malone, Sunday, 13 November 2022 00:16 (one year ago) link
https://pbs.twimg.com/media/FhadnADXwAEgiG_?format=jpg&name=medium
🚨 FTX TRADING LTD BALANCE SHEET IN FULL 🚨Spreadsheet was dated Thursday, the day before FTX Trading (main international exchange), FTX US, and Alameda were put into bankruptcy protectionhttps://t.co/NAfRS2gpW4 pic.twitter.com/uw0Funqgmv— kadhim (^ー^)ノ (@kadhim) November 12, 2022
― lag∞n, Sunday, 13 November 2022 14:42 (one year ago) link
God, give me Grace to accept with serenity the things I wish I could do differently than I didCourage to represent the poorly labeled bank internal bank account and the size of customer withdrawals during a run on the bankand the Wisdom to distinguish the one from the other
― Karl Malone, Sunday, 13 November 2022 15:02 (one year ago) link
@fiat is latin for "let's go do some crimes"
― mark s, Sunday, 13 November 2022 15:04 (one year ago) link
crimecoin™
― lag∞n, Sunday, 13 November 2022 15:07 (one year ago) link
three arrows capital guy with a weepy lil thread
The universe works in mysterious ways. Over the past year, I’ve seen the highest high and lowest low of my life. I know many reading this have as well.Humanity, community, happiness are worth it. Love.— Kyle Davies 🔺 (@KyleLDavies) November 13, 2022
― lag∞n, Sunday, 13 November 2022 15:34 (one year ago) link
all my pancakes gone
pic.twitter.com/P55cRX9COE— web3 is going just great (@web3isgreat) November 13, 2022
― mark s, Sunday, 13 November 2022 17:28 (one year ago) link
BREAKING: A potential bank run on https://t.co/SCDLOM8zTW may be in progress. Nearly 90,000 unique transactions have been processed in the last few hours, suggesting that users are scrambling to get their funds off the exchange 👇#CryptoCom pic.twitter.com/5XRELFgmyC— The Chainsaw (@chainsawdotcom) November 14, 2022
― lag∞n, Monday, 14 November 2022 03:48 (one year ago) link
This, from an interview with Sam Bankman-Fried (whose crypto exchange has just imploded) is very funny. That loser Tolstoy. Think of the time he could have saved. pic.twitter.com/esRKWwDSfy— Tom Sutcliffe (@tds153) November 13, 2022
― lag∞n, Monday, 14 November 2022 04:09 (one year ago) link
easiest way to spot a dumb guy
― G. D’Arcy Cheesewright (silby), Monday, 14 November 2022 04:15 (one year ago) link
lol was mattY aware of that quote, or would that be unreasonable skepticism of tech
― mookieproof, Monday, 14 November 2022 05:13 (one year ago) link
Michael Lewis' next book is about Sam Bankman-Fried. Email from CAA confirms he has been embedded with him for last 6 months; note below was first sent to potential buyers for filmed rights. Scoop @TheAnkler https://t.co/VcFEmeCAIM pic.twitter.com/ZrioMu7qbb— Janice Min (@janicemin) November 13, 2022
will read
― 𝔠𝔞𝔢𝔨 (caek), Monday, 14 November 2022 06:44 (one year ago) link
If Sammy had deigned to read a book, he could’ve read The Journalist and the Murderer before he agreed to spend six months letting Michael Lewis hang out at his polycule penthouse or w/e
― G. D’Arcy Cheesewright (silby), Monday, 14 November 2022 07:24 (one year ago) link
To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify. 1/2— CZ 🔶 Binance (@cz_binance) November 14, 2022
need to prop up the strong pretend money projects that might just be experiencing a lack of real money
― lag∞n, Monday, 14 November 2022 13:44 (one year ago) link
rip the brave
It is now too late to withdraw from crypto dot com. There’s still time to withdraw from Binance.There’s still time to withdraw from Bitfinex.There’s still time to get rid of your tethers.Do it. pic.twitter.com/IudKThODpv— Bitfinex’ed 🔥 Κασσάνδρα 🏺 (@Bitfinexed) November 14, 2022
― lag∞n, Monday, 14 November 2022 16:12 (one year ago) link
today's money stuff is pretty 🔥
― 龜, Monday, 14 November 2022 19:11 (one year ago) link
lol yeah hes on one
― lag∞n, Monday, 14 November 2022 19:46 (one year ago) link
Crypto scams are what happens when you defund the police. Virtually everything in cryptocurrencies was unlawful, there just aren't enough cops to enforce the law.— Matt Stoller (@matthewstoller) November 14, 2022
― manic pixie dream shatner (bizarro gazzara), Monday, 14 November 2022 21:16 (one year ago) link
So not gonna happen
https://d1e00ek4ebabms.cloudfront.net/production/7c35a1c5-5ed7-48ab-9567-40008dca452d.jpg
― Guayaquil (eephus!), Tuesday, 15 November 2022 03:57 (one year ago) link
can we buy an NFT of this crypto crash somewhere?
― StanM, Tuesday, 15 November 2022 07:58 (one year ago) link
all fall down
Crypto Lender BlockFi Prepares for Potential Bankruptcy, Sources Say --WSJ— *Walter Bloomberg (@DeItaone) November 15, 2022
― lag∞n, Tuesday, 15 November 2022 18:04 (one year ago) link
ah well, nevertheless
― G. D’Arcy Cheesewright (silby), Tuesday, 15 November 2022 18:05 (one year ago) link
good stuff from Matt Levine
Bloomberg
Binance bailout fundHas there ever been a pure liquidity problem at a crypto firm? Like what I have in mind is this:
A crypto firm owes $100 (in crypto I guess) to somebody (customers, lenders) who can demand their money back on short notice.The firm has $200 worth of stuff (crypto assets I guess). The customers or lenders demand their $100 back all at once.The firm’s $200 worth of stuff is not immediately accessible for some reason: It is in long-term crypto-denominated mortgages, say. Or it is in locked crypto tokens. Or it is in crypto tokens and there is, for some reason, a temporary lack of liquidity in the market for those tokens. Or it is a large quantity of some crypto token that could be sold for $200 over the course of a week or two, but if you sell it in an hour or two — to give people their money back all at once — that will crash the price.The firm cannot raise $100 to pay back its customers or lenders, and implodes.But it had $200 worth of stuff! Very unfair.This, to be clear, is the standard story of bank runs in traditional banking. It is the Diamond-Dybvig model that won a Nobel Memorial Prize this year. The standard problem is “the assets are good but long-term, and the customers want their money now.” It is the problem that central banks are set up to solve. The solution is fairly straightforward: You have a central bank with lots of money (ideally, in modern central banking, the ability to print money). If a bank with good assets is facing a liquidity crunch, it can go to the central bank and say “we have $200 of assets but we can’t get $100 of cash, help,” and the central bank will help. It will help by “lending freely, against good collateral, at a penalty rate,” as Bagehot’s famous formula goes: The central bank will lend the bank $100 to pay its depositors, but first it will make sure that the bank really has $200 of good stuff. (And it will charge interest.) If a bank shows up at the Federal Reserve and says “hi we owe depositors $100 but don’t have it, we lost it all on roulette,” the Fed will not help.[1]
Meanwhile in crypto I just don’t hear a lot of stories like that? I am not saying it is impossible, or even that unlikely; I am just saying that I’ve never really heard of it happening. Oh I mean I have heard many many stories, in crypto, that have the same rough shape, “run on the bank” stories. But the ones I have heard are all subtly different. They go like this:
A crypto firm owes $100 to customers or lenders.The firm’s balance sheet shows $200 worth of stuff.Somebody notices that the $200 worth of stuff is just a piece of paper with the words “this is worth $200” scrawled on it in crayon, and points that out online.The customers or lenders read this and, sensibly, demand their $100 back all at once.The firm tries to shop its scrawled piece of paper to raise the $100, and gets bids for it of zero dollars.The firm cannot raise $100 to pay back its customers or lenders, and implodes.But it had $0 worth of stuff, so this seems like a pretty reasonable result, though of course bad for customers.In other words, every crypto liquidity crisis story that I have heard is obviously a solvency crisis. The problem is not that the firm has good assets but cannot, for some reason, convert them quickly into ready money. The problem is that the firm has bad assets and people notice and demand their money back and the money isn’t there. The reasons the money isn’t there will vary. Sometimes the firm just lost money on risky trades. Sometimes the money all went into magic beans and the magic bean market collapsed. (This is the story of TerraUSD and Luna.) Sometimes the money was stolen by hackers, or by the firm’s executives, or both.
But the story is never “this crypto firm took demand deposits and used them to fund 30-year mortgages, and while those mortgages are still paying and are likely to be money-good, the firm doesn’t have the cash right now.” Because that is, uh, not really how crypto works? Compared to banks, crypto firms probably have a bit more carelessness and fraud, but they definitely have a lot more magic beans. Crypto firms tend to have assets that do not have cash flows, and that are highly correlated to confidence in crypto — often highly correlated to confidence in that firm itself — and so when they lose confidence they also tend to lose their assets.
― longtime caller, first time listener (man alive), Tuesday, 15 November 2022 18:09 (one year ago) link
at some point there wont be enough infrastructure to support games theyre playing with bitcoins price and it too will be all gone
― lag∞n, Tuesday, 15 November 2022 18:09 (one year ago) link
i was just cruisin' the internet to see how many famous people are/were being paid by blockfi to try to con people into buying crypto
it's a lot
― Karl Malone, Tuesday, 15 November 2022 18:11 (one year ago) link
what is the levine footnote abt roulette, i feel that's what i need to process rn
― mark s, Tuesday, 15 November 2022 18:13 (one year ago) link
yeah thats why i think crypto doesnt have another boom in it cause this cycle was the big push for retail investors and now theyre all out of suckers xp
― lag∞n, Tuesday, 15 November 2022 18:14 (one year ago) link
once those superbowl ads aired you know it was only a matter of time
― lag∞n, Tuesday, 15 November 2022 18:15 (one year ago) link
seems kind of obvious that a firm that deals with tokens whose only purpose is to function as a store of value might have this sort of problem
― frogbs, Tuesday, 15 November 2022 18:15 (one year ago) link
― lag∞n, Tuesday, November 15, 2022 1:09 PM (five minutes ago) bookmarkflaglink
if it drops far enough people will start using real money to buy it but then itll prob crash again as whales try to get anything they can for their worthless computer tokens
― lag∞n, Tuesday, 15 November 2022 18:16 (one year ago) link
lol yeah as soon as it became clear they were gonna run Super Bowl ads every smart person I know who follows this stuff said "pull your money out now"
― frogbs, Tuesday, 15 November 2022 18:16 (one year ago) link
"A monk-like aesthetic extends from his clothes...to his personal life. He shares a penthouse with about 10 roommates and cooks for himself." pic.twitter.com/Cx7QE86Bif— Eric Levitz (@EricLevitz) November 14, 2022
― lag∞n, Tuesday, 15 November 2022 18:25 (one year ago) link
yeah but the new marks are born every day. isn't crypto especially appealing to younger people?
https://i.imgur.com/PoX1Hwa.pnghttps://www.pewresearch.org/fact-tank/2021/11/11/16-of-americans-say-they-have-ever-invested-in-traded-or-used-cryptocurrency/
i just deleted a bunch of misanthropic speculative bullshit but i think we can all think of reasons why
― Karl Malone, Tuesday, 15 November 2022 18:42 (one year ago) link
idk at some point the reputation is just too bad
― lag∞n, Tuesday, 15 November 2022 18:47 (one year ago) link
i do think crypto will survive to fulfill its one true use: crime, but it doesnt need to be worth a lot for that, just needs to be worth something
― lag∞n, Tuesday, 15 November 2022 18:48 (one year ago) link
having learned about the hawala system from the excellent Joseph Gordon-Levitt vehicle PREMIUM RUSH (2012), I think cryptocurrency is an unnecessary complication
― G. D’Arcy Cheesewright (silby), Tuesday, 15 November 2022 18:54 (one year ago) link
for crimes
hawala is better its true but not everyone has access to it, crypto all u need is a computer baby
― lag∞n, Tuesday, 15 November 2022 18:57 (one year ago) link
still be some speculators around the edges too prob but this thing where vcs are pumping cash into the ecosystem, superbowl ads and so forth, thinking its over
― lag∞n, Tuesday, 15 November 2022 18:58 (one year ago) link
tho there are still the whales to contend with they want their cyber coins to be worth something not nothing, will be interesting i guess to see what they get up to, still they do need suckers, and if the suckers run out, maybe they can keep the scheme rolling on a smaller scale
― lag∞n, Tuesday, 15 November 2022 18:59 (one year ago) link
The FTX exploiter, who has been dumping all other drained assets for ETH, is now one of the largest holders in the world, with 228,523 ETH ($284.82m) currently in their wallet. Everyone should keep an extremely close eye on what happens next... pic.twitter.com/SAP3UkyVaa— Dylan LeClair 🟠 (@DylanLeClair_) November 15, 2022
― lag∞n, Tuesday, 15 November 2022 19:47 (one year ago) link
is this good?
― G. D’Arcy Cheesewright (silby), Tuesday, 15 November 2022 19:54 (one year ago) link
its hardcore crypto
― lag∞n, Tuesday, 15 November 2022 19:57 (one year ago) link
Everyone should keep an extremely close eye on what happens next...
Some more crypto bullshit prob
― longtime caller, first time listener (man alive), Tuesday, 15 November 2022 20:33 (one year ago) link
The Levine footnote is sadly not about roulette, it's just pointing out that the Fed won't help, but the Federal Deposit Insurance Corp will - but it'll help depositors not the bank.
― Andrew Farrell, Tuesday, 15 November 2022 21:58 (one year ago) link
Yeah I didn’t post the rest of that newsletter just to avoid a wall of text but it’s all good. It’s free to subscribe!
― longtime caller, first time listener (man alive), Wednesday, 16 November 2022 03:48 (one year ago) link
rip winklevii
*CRYPTO BROKER GENESIS SUSPENDS WITHDRAWALS, ORIGINATIONS IN LENDING BUSINESS pic.twitter.com/1O5mPdfrsW— Investing.com (@Investingcom) November 16, 2022
― lag∞n, Wednesday, 16 November 2022 13:23 (one year ago) link
https://pbs.twimg.com/media/FhsOI4CWAAI3UeU?format=jpg&name=medium
― lag∞n, Wednesday, 16 November 2022 16:31 (one year ago) link
post trunkless legs of stone
― mark s, Wednesday, 16 November 2022 16:37 (one year ago) link
idk why that always reminds of ethan canin's "palace thief" a moment before it reminds of shelley
ethan canin another notable stanford person, btw
― the late great, Wednesday, 16 November 2022 17:45 (one year ago) link
Are all Stanford grads psychos and grifters
― G. D’Arcy Cheesewright (silby), Wednesday, 16 November 2022 17:56 (one year ago) link
i mean, i certainly am. but i only know a small fraction of the 10k ppl they graduate every year
― the late great, Wednesday, 16 November 2022 18:07 (one year ago) link
sometimes life creeps up on you
So @kelseytuoc has been DMing with SBF and … just … my Godhttps://t.co/NbvlomnQhC pic.twitter.com/Ra4Xq5ZeHq— dylan matthews (@dylanmatt) November 16, 2022
― lag∞n, Wednesday, 16 November 2022 20:34 (one year ago) link
having a hard time figuring out what to make of bankman f he is very odd
Got gifted kid issues, had a job at Jane Street but the highs weren’t high enough, HFT is just ordinary market making now, he wanted to do crazy trades with other people’s money
― G. D’Arcy Cheesewright (silby), Wednesday, 16 November 2022 20:38 (one year ago) link
Possibly doesn’t have a lawyer
― G. D’Arcy Cheesewright (silby), Wednesday, 16 November 2022 20:39 (one year ago) link
seemingly has some sociopathic qualities, the disconnectedness just looking at the world as problem to figure out, but not full on sociopath doesnt seem to have the cruelty
― lag∞n, Wednesday, 16 November 2022 20:41 (one year ago) link
ah yeah lol
https://pbs.twimg.com/media/Fhtr12aXkAMDglE?format=jpg&name=medium
― lag∞n, Wednesday, 16 November 2022 21:00 (one year ago) link
he is the son of two lawyers, should have a lawyer xp
― 龜, Wednesday, 16 November 2022 21:01 (one year ago) link
whaaa, is that last text exchange real? it's an irl scooby-doo unmasked villain explaining the whole game scenario
― Karl Malone, Wednesday, 16 November 2022 21:05 (one year ago) link
its real lol, see linked vox article in previous tweet
― lag∞n, Wednesday, 16 November 2022 21:07 (one year ago) link
I wonder if this was his attitude the whole time or if "hey man regulations are bullshit and there is no such thing as ethical behavior" is all post-hoc
― death generator (lukas), Wednesday, 16 November 2022 21:08 (one year ago) link
i would guess that if he ever cared about other people, it was early on and then he faced an "ethical dilemma" and chose the path with all the money
― Karl Malone, Wednesday, 16 November 2022 21:10 (one year ago) link
I just want someone to assure me that my bored ape is still worth $1.5M
― assert (matttkkkk), Wednesday, 16 November 2022 21:14 (one year ago) link
lol, is he literally admitting that the whole effective altruism thing was a charade?
― jmm, Wednesday, 16 November 2022 21:14 (one year ago) link
Ethics = being woke, YEP
― jmm, Wednesday, 16 November 2022 21:15 (one year ago) link
i think he still prob agreed with the core of effective altruism that him getting all the money was good
― lag∞n, Wednesday, 16 November 2022 21:17 (one year ago) link
A class action lawsuit has been launched against FTX’s former chief executive Sam Bankman-Fried over the crypto exchange’s collapse which also names as defendants a host of its celebrity backers including Larry David, Naomi Osaka, Gisele Bündchen and Shaquille O’Neal.Filed in Florida by class action attorney Adam Moskowitz, the case is one of the first to attempt to hold the sports stars and entertainers who promoted cryptocurrencies in the boom years responsible for their support.As well as naming Bankman-Fried as a personal defendant, the case pulls in as co-defendants a host of names who it claims “either controlled, promoted, assisted in, (or) actively participated in FTX Trading”.They include: comedian Larry David; Japanese tennis star Naomi Osaka; the married couple Gisele Bundchen and Tom Brady and his fellow NFL star Trevor Lawrence; basketball players Shaquille O’Neal, Steph Curry, Udonis Haslem and the Golden State Warriors; baseball players Shohei Ohtani and David Ortiz; and celebrity investor Kevin O’Leary.
― after several days on “the milk,” (gyac), Wednesday, 16 November 2022 21:20 (one year ago) link
sometimes a shady trading operation with close ties to your company creeps up on you
― longtime caller, first time listener (man alive), Wednesday, 16 November 2022 21:58 (one year ago) link
There is something a little different about his vibe, a little more self-aware, a little less genuinely grandiose than IDK, WeWork guy.
― longtime caller, first time listener (man alive), Wednesday, 16 November 2022 21:59 (one year ago) link
wework guy is just a garden variety egomaniacal huckster, sbf is something weirder
― lag∞n, Wednesday, 16 November 2022 22:19 (one year ago) link
(3/3) Mr. Bankman-Fried has no ongoing role at @FTX_Official, FTX US, or Alameda Research Ltd. and does not speak on their behalf.— FTX (@FTX_Official) November 16, 2022
― lag∞n, Wednesday, 16 November 2022 22:24 (one year ago) link
Suing him for what he’s worth negative 50 billion dollars right now
― frogbs, Wednesday, 16 November 2022 22:46 (one year ago) link
ah well nevertheless
JUST IN: Singapore’s state-owned investor Temasek has decided to write down its entire $275 million investment in FTX, saying its belief in Sam Bankman-Fried was likely “misplaced" https://t.co/ik34KJrA2t— Bloomberg (@business) November 17, 2022
― lag∞n, Thursday, 17 November 2022 02:16 (one year ago) link
P funny that Larry David is getting sued for literally telling people not to get involved with this company.
― longtime caller, first time listener (man alive), Thursday, 17 November 2022 02:46 (one year ago) link
*Curb theme plays*
― jmm, Thursday, 17 November 2022 02:48 (one year ago) link
total curb plot
lol xp
― lag∞n, Thursday, 17 November 2022 02:48 (one year ago) link
I feel like the Curb plot would be that this then leads to “Larry Knew” protests
― longtime caller, first time listener (man alive), Thursday, 17 November 2022 02:50 (one year ago) link
― lag∞n, Thursday, 17 November 2022 02:54 (one year ago) link
Alameda Research CEO learning the wrong lessons
Can't stop reading Caroline's Goodreads reviews. Perhaps the one on Super Pumped is the most telling.She also gave Bad Blood a 4.41/5. pic.twitter.com/MdxzZT1ga7— Kari Vanessa McMahon (@karivmcmahon) November 13, 2022
― G. D’Arcy Cheesewright (silby), Thursday, 17 November 2022 03:47 (one year ago) link
lmao grayball was their law breaking software
― lag∞n, Thursday, 17 November 2022 03:56 (one year ago) link
Co-CEO of Alameda Research, Caroline Ellison preparing for Christmas 🤶 pic.twitter.com/lxDvjFLBI0— Mr. Whale 🐳 whalechart.org (@WhaleChart) November 11, 2022
The Psychopharmacology Of The FTX Crash
― mookieproof, Thursday, 17 November 2022 06:45 (one year ago) link
Lol I read most of that before realizing it was SSC you gotta warn me of these things
― G. D’Arcy Cheesewright (silby), Thursday, 17 November 2022 07:57 (one year ago) link
One thread etc
Coverage of FTX meltdown is incomparably faster *and* better quality on Twitter than old-school media— Elon Musk (@elonmusk) November 17, 2022
― groovypanda, Thursday, 17 November 2022 08:47 (one year ago) link
pic.twitter.com/mxdCbTJlCr— Jaba The Reversal (@nikos5800) November 17, 2022
― Tsar Bombadil (James Morrison), Thursday, 17 November 2022 10:17 (one year ago) link
https://www.theonion.com/what-to-know-about-the-collapse-of-ftx-1849786911
Q: So if FTX is bankrupt, which exchange is more trustworthy for my remaining crypto assets, Coincheck or Bitstamp?A: You are going to lose all of your money.
― Critique of the Goth Programme (Neil S), Thursday, 17 November 2022 11:32 (one year ago) link
― longtime caller, first time listener (man alive), Thursday, 17 November 2022 13:08 (one year ago) link
🐦[Co-CEO of Alameda Research, Caroline Ellison preparing for Christmas 🤶 pic.twitter.com/lxDvjFLBI0🕸— Mr. Whale 🐳 whalechart.org (@WhaleChart) November 11, 2022🕸]🐦
― Lord Pickles (Boring, Maryland), Thursday, 17 November 2022 13:58 (one year ago) link
born 1994, says Wikipedia. 28.
― StanM, Thursday, 17 November 2022 14:01 (one year ago) link
Weird vibe from that Vox interview, yeah, like SBF doesn't care that much about his own wellbeing or the ramifications of admitting all this stuff (or he's sufficiently sheltered that he isn't worried about it)
― jmm, Thursday, 17 November 2022 15:27 (one year ago) link
admitting that he doesn't give a fuck about ethics is genuine, at least. if he gave 0.001% a fuck about it he would be feeling extremely bad about how much he damaged the important new groundbreaking idea of "effective altruism" for anyone else who is using that as their line right now
― Karl Malone, Thursday, 17 November 2022 15:47 (one year ago) link
ethics are what you impose on other people
― mh, Thursday, 17 November 2022 15:58 (one year ago) link
it's true but it's not genuine is how i break it down etc
he doesn't do genuine he does "what likely plays right now" -- sometimes this overlaps with the facts
― mark s, Thursday, 17 November 2022 16:02 (one year ago) link
Those who bought Coachella NFTs earlier this year are having trouble accessing their assets https://t.co/tkIyyXMHil— Pitchfork (@pitchfork) November 17, 2022
― groovypanda, Thursday, 17 November 2022 17:13 (one year ago) link
oh no
― mark s, Thursday, 17 November 2022 17:22 (one year ago) link
all my coachella lifetime passes gone
― mark s, Thursday, 17 November 2022 17:23 (one year ago) link
Can still access my bananas and baby pickle.
― Jeff, Thursday, 17 November 2022 18:10 (one year ago) link
― jmm, Thursday, November 17, 2022 10:27 AM (three hours ago) bookmarkflaglink
turns out it wasnt exactly an interview or at least he didnt think so, he didnt realize the texts were going to be published even tho he was talking to a reporter he had no relationship with and he didnt ask for it to be off the record, lol what a bozo
― lag∞n, Thursday, 17 November 2022 18:36 (one year ago) link
I'm old and not in tech but that guy's whole affect strikes me as a guy I wouldn't trust giving me cheat codes for the new GTA let alone anything for $.
― The Bankruptcy of the Planet of the Apes (PBKR), Thursday, 17 November 2022 18:39 (one year ago) link
xp it's also funny that people are commenting "wow he should have said this was off the record" when that'd mean jack shit after his company is toast and no one's going to get to interview him anymore. there's no legal standing to OTR, it's just "I'll tell you some juicy shit, please don't burn me and I might keep doing it in the future"
― mh, Thursday, 17 November 2022 18:54 (one year ago) link
prob most reporters wouldve respected it but yeah its not like theres a law
― lag∞n, Thursday, 17 November 2022 18:55 (one year ago) link
actually it's about ethics in shitcoin journalism
― 龜, Thursday, 17 November 2022 19:02 (one year ago) link
― lag∞n, Thursday, November 17, 2022 10:36 AM (twenty-six minutes ago)
I had just been saying to a friend of mine after it came out that he's been blabbing at Michael Lewis for six months that he really should've read The Journalist and the Murderer, but he has been quoted as saying that books are a waste of time
― G. D’Arcy Cheesewright (silby), Thursday, 17 November 2022 19:03 (one year ago) link
nobody should ever talk to a journalist for any reason
its pretty funny must admit, bet hes still talking to him too
― lag∞n, Thursday, 17 November 2022 19:04 (one year ago) link
i bet he knew michael lewis did moneyball and figured it was gonna be that sort of thing, heck michael lewis prob told him that, you ever see that movie where brad pitt is smart thats you boy were gonna get handsome oscar isaac to play you
― lag∞n, Thursday, 17 November 2022 19:07 (one year ago) link
Gonna be T Chalz with a bad perm
― G. D’Arcy Cheesewright (silby), Thursday, 17 November 2022 19:13 (one year ago) link
I admit I find it very odd that this dude was able to earn so many people's trust and life savings
― frogbs, Thursday, 17 November 2022 19:27 (one year ago) link
aiui the website looked good
― G. D’Arcy Cheesewright (silby), Thursday, 17 November 2022 19:31 (one year ago) link
have not seen it myself
I wonder how many people actually signed up for FTX because of the Larry David ad. Feels like the ad was practically made for the Larry character to be proven right.
― jmm, Thursday, 17 November 2022 20:58 (one year ago) link
― G. D’Arcy Cheesewright (silby), Thursday, November 17, 2022 2:03 PM (two hours ago) bookmarkflaglin
he’s made a point about bragging about not reading books. this is the kind of guy he is
― k3vin k., Thursday, 17 November 2022 21:22 (one year ago) link
I had just been saying to a friend of mine
and that friend... was ILX's bitcoins thread
― Vance Vance Devolution (sic), Thursday, 17 November 2022 23:03 (one year ago) link
sic I’m gonna chase you off the Orpheum stage with a stick
― G. D’Arcy Cheesewright (silby), Thursday, 17 November 2022 23:07 (one year ago) link
wld think this is just the tip of the iceberg as far as collusion is concerned, seems like theres always tons of funds sloshing around between various big holders for unknown reasons
This is a useful reminder that some top crypto people -- executives, whales, investors -- are in small private group chats discussing other market players and coordinating activity. There's a club and they're in it. https://t.co/7thi054UUt— Jacob Silverman (@SilvermanJacob) November 18, 2022
― lag∞n, Friday, 18 November 2022 13:25 (one year ago) link
not sure if this embed properly but he's in the replies:
Its a long story but we were scammed just like you guys, its ok --justice is coming— Zhu Su 🔺 (@zhusu) November 13, 2022
― Karl Malone, Friday, 18 November 2022 16:30 (one year ago) link
that was in reply to this question: "If you smelt a rat, what convinced you to become one of the biggest traders on their exchange?"
The Papa John interview is lovely pic.twitter.com/bpDMDm9t9G— Timothy Burke (@bubbaprog) November 26, 2019
― lag∞n, Friday, 18 November 2022 16:35 (one year ago) link
lol, solid follow up Q at the end
― longtime caller, first time listener (man alive), Friday, 18 November 2022 17:09 (one year ago) link
what the fuck are you talking abouthehe im talking about something
― lag∞n, Friday, 18 November 2022 17:11 (one year ago) link
"stay tuned" with that facial expression is peak tim heidecker
― Karl Malone, Friday, 18 November 2022 17:12 (one year ago) link
he looks soaked. Does he douse himself from head to toe in baby oil?
― longtime caller, first time listener (man alive), Friday, 18 November 2022 17:13 (one year ago) link
anyway zhu su tweet is very spiderman pointing at spiderman
― longtime caller, first time listener (man alive), Friday, 18 November 2022 17:14 (one year ago) link
papa john's greasy sweat is the secret ingredient in papa john's pizza
― Karl Malone, Friday, 18 November 2022 17:14 (one year ago) link
interesting, gbtc is guess is some bitcoin derivative and its price has sharply decoupled from bitcoins
Based on GBTC's 43% discount to NAV, #Bitcoin is already trading well below $10K. I think this is the real price of Bitcoin, as when you sell $GBTC you get paid real cash. But when you sell #BTC you get paid #Tether. To get actual cash for Bitcoin you must accept a huge discount.— Peter Schiff (@PeterSchiff) November 18, 2022
― lag∞n, Friday, 18 November 2022 18:30 (one year ago) link
idk why you couldnt just cash out the tether tho, if thats not working seems like we would be hearing about it
― lag∞n, Friday, 18 November 2022 18:34 (one year ago) link
omfg haaa
.@llegrarosenberg went deep into Caroline Ellison's alleged Tumblr. It wasn't just a Harry Potter fan blog. It was a RATIONALIST Harry Potter fan blog.https://t.co/OX3t2kTJbS pic.twitter.com/fOcKg8YHtb— Ryan Broderick (@broderick) November 18, 2022
― lag∞n, Friday, 18 November 2022 19:30 (one year ago) link
lol of course
― G. D’Arcy Cheesewright (silby), Friday, 18 November 2022 19:31 (one year ago) link
oh god whyhttps://en.wikipedia.org/wiki/Harry_Potter_and_the_Methods_of_Rationality
― longtime caller, first time listener (man alive), Friday, 18 November 2022 19:49 (one year ago) link
haaaa
Departing from J. K. Rowling's original books, Yudkowsky supposes that Harry's aunt Petunia Evans married an Oxford professor and homeschooled Harry in science and rational thinking.[6][8][9]
― lag∞n, Friday, 18 November 2022 19:53 (one year ago) link
Same guy who created a panic over an imaginary vengeful superintelligence, by the way.
https://en.wikipedia.org/wiki/Roko's_basilisk#Reactions
― jmm, Friday, 18 November 2022 19:54 (one year ago) link
lag00n found your alt
Peak crypto living.No physical possessions but a trusty rug to sleep on (rugged 4 lyf), an @FTX_Official hoodie that doubles as a pillow, a laptop (w/ Rust compiler ofc) and mechanical keyboard (max WPM for CT shitposting). Everything else in NFTs or earning yield on #Solana. pic.twitter.com/bcqgfEIDS6— Tristan (@Tristan0x) November 17, 2021
― 𝔠𝔞𝔢𝔨 (caek), Friday, 18 November 2022 20:20 (one year ago) link
hard to tell without touching the thing (could be printed or machine made) but to this persian that looks like a couple thousand dollars worth of persian rug. also if sleeping on that is rugged then my grandma in her end of life stage (rip) was also rugged
― the late great, Friday, 18 November 2022 20:29 (one year ago) link
pretty sure thats in ikea rug fwiw, and not because i bought it and thats my home be serious i would have a blanket too
― lag∞n, Friday, 18 November 2022 20:38 (one year ago) link
lmao the mechanical keyboard is such a nice touch
really? that's pretty legit looking for a fake! last i checked the detail on ikea rugs looked a lot less crisp, though tbf since i started owning a dachshund (2010) i've stopped owning rugs
― the late great, Friday, 18 November 2022 20:42 (one year ago) link
a trusty rug for the rugpulls
― jmm, Friday, 18 November 2022 20:43 (one year ago) link
yup there u go
https://i.imgur.com/89FqxJq.png
― lag∞n, Friday, 18 November 2022 20:45 (one year ago) link
it's a pretty nice rug
― ciderpress, Saturday, 19 November 2022 18:08 (one year ago) link
rugs are the original nfts
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Saturday, 19 November 2022 18:16 (one year ago) link
(I posted this to ILE but was informed there was an FTX discussion already happening here...)
Crypto skeptic Molly White's (creator of "Web3 Is Going Just Great") writeups are excellent - here's part 3 of her FTX coverage: https://newsletter.mollywhite.net/p/the-ftx-collapse-the-latest-revelations
Some highlights from it:* The spreadsheet included an entry for “Hidden, poorly internally labled (sic) ‘fiat@’ account: -8 billion”. Apparently SBF wishes for us to believe that he somehow just misplaced an account representing eight billion dollars in liabilities. SBF also included an attempt at remorse in the balance sheet (as one does): “There were many things I wish I could do differently than I did…”
(I'm reminded of the Robin Williams joke about putting $50,000 on your tax form for "snacks".)
* The clean-up guy (who oversaw Enron's bankruptcy) John J. Ray III said: "Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented."
* The Debtors do not have an accounting department and outsource this function.
― ernestp, Saturday, 19 November 2022 18:48 (one year ago) link
Heads up: rotating a few FTX wallets today (mostly non-circulating); we do this periodically. Might be a few more coming, won’t have any effect.— SBF (@SBF_FTX) September 28, 2022
https://www.youtube.com/watch?v=-oFfScP0S_M
― difficult listening hour, Sunday, 20 November 2022 00:45 (one year ago) link
― mh, Sunday, 20 November 2022 01:41 (one year ago) link
― 龜, Sunday, 20 November 2022 12:13 (one year ago) link
ah well
Sequoia Capital Managing Partner speaking about FTX: "[We did] careful due diligence...We’ve looked at it. There’s nothing much we could have done any differently...I can tell you that, for the next three to six months, we’re going to dream a little less"[@CNBC] pic.twitter.com/6JxCJaFv0u— The Transcript (@TheTranscript_) November 20, 2022
― lag∞n, Sunday, 20 November 2022 17:09 (one year ago) link
https://mobile.twitter.com/patio11 Has always struck me as a terrible bore who knows what he’s talking about. He seems pretty adamant that tether is about to go.
― 𝔠𝔞𝔢𝔨 (caek), Sunday, 20 November 2022 22:46 (one year ago) link
Give it to me baby
― G. D’Arcy Cheesewright (silby), Sunday, 20 November 2022 22:55 (one year ago) link
lets goo
― lag∞n, Sunday, 20 November 2022 22:56 (one year ago) link
A person I have known for more than ten years, who I consider trustworthy, is convinced the cryptocurrency economy will shortly experience a systemic risk. I don’t know anything concrete, but if I were exposed, I would be concerned.— Paul Graham (@paulg) November 20, 2022
Vitalik subtweeting Paul Graham calling him out for being a total loser is the closest I’ve been to being bullish crypto https://t.co/7N1iw8zXJH— Bucco *Parody* Capital (@buccocapital) November 21, 2022
― 𝔠𝔞𝔢𝔨 (caek), Monday, 21 November 2022 02:21 (one year ago) link
lol the entire crypto industry is very publicly crashing and burning, paul grahams friend told him
― lag∞n, Monday, 21 November 2022 02:24 (one year ago) link
am I to understand that if Tether goes it's game over
― frogbs, Monday, 21 November 2022 02:34 (one year ago) link
― lag∞n, Monday, 21 November 2022 02:35 (one year ago) link
http://view.pics-or-gtfo.com/20221118-1ac139e922fcc59d088de21c946d2d81.jpeg
Put simply, the crypto system as it currently exists is unsustainable. Absent clear and easily enforceable property rights, relying solely on private investors to monitor and discipline the behaviour of opaque intermediaries has never been safe and effective. There is no prospect for a technological solution to these age-old problems.So, the big question is whether authorities ought to create a new regulatory and supervisory framework that protects property rights and enforces the principles of safety and soundness. Concerned about further losses from the collapse of crypto, many people are calling for new rules to protect consumers.Ironically, however, attempts to create a separate structure for regulating and supervising crypto will just make the financial system less, not more, safe.This is true for two reasons. First, it will encourage banks both to purchase crypto assets and to lend against them as collateral, making the banking system vulnerable to plunging market values. In contrast, even the ongoing collapse of crypto values and institutions has had virtually no impact on the wellbeing of the traditional financial markets and firms.Second, new rules would lead to a migration of financial activity from traditional finance to the still less regulated, but newly sanctioned, crypto world. Both crypto and traditional finance are simply combinations of a database and computer code. It would be straightforward for a group of technicians to convert any set of conditional cash flows from one into the other. For example, imagine someone choosing to issue claims on their firm as a crypto token rather than as conventional equity to take advantage of looser rules for disclosure, accounting, custody, and the like.If any new rules are needed, they are ones that limit exposure of traditional leveraged intermediaries to the crypto world.Banks, dealers, insurers, and pension funds should not be allowed to purchase and hold crypto or accept it as collateral. For the most part, crypto today is just a multiplayer online video game (like World of Warcraft). If virtually all the transactions remain internal to the crypto world without links to the real economy, the process might as well be occurring on Mars, leaving traditional finance unaffected.The overriding goal of policymakers should be to keep crypto systemically irrelevant. The best way to do this is let it implode under the pressure of its unsafe and unsound business practices. Meanwhile, authorities should constantly point to the record that crypto is rife with failures and fraud.Rather than creating a new legal and regulatory framework that legitimises crypto, we should simply let it burn.
So, the big question is whether authorities ought to create a new regulatory and supervisory framework that protects property rights and enforces the principles of safety and soundness. Concerned about further losses from the collapse of crypto, many people are calling for new rules to protect consumers.
Ironically, however, attempts to create a separate structure for regulating and supervising crypto will just make the financial system less, not more, safe.
This is true for two reasons. First, it will encourage banks both to purchase crypto assets and to lend against them as collateral, making the banking system vulnerable to plunging market values. In contrast, even the ongoing collapse of crypto values and institutions has had virtually no impact on the wellbeing of the traditional financial markets and firms.
Second, new rules would lead to a migration of financial activity from traditional finance to the still less regulated, but newly sanctioned, crypto world. Both crypto and traditional finance are simply combinations of a database and computer code. It would be straightforward for a group of technicians to convert any set of conditional cash flows from one into the other. For example, imagine someone choosing to issue claims on their firm as a crypto token rather than as conventional equity to take advantage of looser rules for disclosure, accounting, custody, and the like.
If any new rules are needed, they are ones that limit exposure of traditional leveraged intermediaries to the crypto world.
Banks, dealers, insurers, and pension funds should not be allowed to purchase and hold crypto or accept it as collateral. For the most part, crypto today is just a multiplayer online video game (like World of Warcraft). If virtually all the transactions remain internal to the crypto world without links to the real economy, the process might as well be occurring on Mars, leaving traditional finance unaffected.
The overriding goal of policymakers should be to keep crypto systemically irrelevant. The best way to do this is let it implode under the pressure of its unsafe and unsound business practices. Meanwhile, authorities should constantly point to the record that crypto is rife with failures and fraud.
Rather than creating a new legal and regulatory framework that legitimises crypto, we should simply let it burn.
https://www.ft.com/content/ac058ede-80cb-4aa6-8394-941443eec7e3
― Tracer Hand, Monday, 21 November 2022 10:26 (one year ago) link
reasonable point
― lag∞n, Monday, 21 November 2022 11:58 (one year ago) link
Isn’t Tether obviously fraudulent?
― Lord Pickles (Boring, Maryland), Monday, 21 November 2022 13:13 (one year ago) link
― lag∞n, Monday, 21 November 2022 13:37 (one year ago) link
Just curious why the shoe hasn't dropped there yet.
― Lord Pickles (Boring, Maryland), Monday, 21 November 2022 14:04 (one year ago) link
idk im sure not what it would take, all the big crypto players obvs really do not want it to happen
― lag∞n, Monday, 21 November 2022 14:18 (one year ago) link
I assume there is a lot propping it up right now. also I don't really understand the finer points of stablecoins but my understanding is they can run on pixie dust for a while
― frogbs, Monday, 21 November 2022 14:20 (one year ago) link
yeah theres tons of collusion various fund sloshing around and whatnot, maybe itll take the rest of the industry deteriorating to the point where they just cant keep the charade up anymore
― lag∞n, Monday, 21 November 2022 14:22 (one year ago) link
yeah I wonder if this is nearing the end of a big musical chairs game
― longtime caller, first time listener (man alive), Monday, 21 November 2022 15:14 (one year ago) link
seems like it
― lag∞n, Monday, 21 November 2022 15:27 (one year ago) link
lmao, wtf is wrong with these people? https://t.co/U5uvh2MtMl pic.twitter.com/sZIoBO7Pjb— Cas Piancey (@CasPiancey) November 21, 2022
― lag∞n, Monday, 21 November 2022 16:46 (one year ago) link
the grift is strong
― mh, Monday, 21 November 2022 16:47 (one year ago) link
Hacker moving all his ETH right now in 15k lots, seems likely he is getting ready to sell pic.twitter.com/TXjpaG7i6f— Avi (@AviFelman) November 21, 2022
― lag∞n, Monday, 21 November 2022 16:49 (one year ago) link
attempting to explain what’s happening in crypto pic.twitter.com/xGwxl6XxMk— addie wagenknecht (@wheresaddie) November 20, 2022
― frogbs, Monday, 21 November 2022 19:13 (one year ago) link
lmao, wtf is wrong with these people? https://t.co/U5uvh2MtMl pic.twitter.com/sZIoBO7Pjb— Cas Piancey (@CasPiancey) November 21, 2022― lag∞n, Monday, 21 November 2022 16:46 (two hours ago) link
If you read the thread it sounds like the person is misreading the SEC filings. It would be pretty brazen to just dump every last share like that, even for a cryptobro. I'd expect him to already be out of the country if he had done that.
― longtime caller, first time listener (man alive), Monday, 21 November 2022 19:33 (one year ago) link
Come on - if you’re going to hold yourself out as informed crypto news than you should actually be informed. He sold all of his Class A shares - there are multiple classes. No board of any public company would allow their CEO to sell all their shares.— Mark Osborn (@MarkROsborn) November 21, 2022
Hi Mark, we've stated in the article that we're talking about the common stock but realize this was not clear in the headline. Edit 18:30 UTC, Nov 21: Headline has been updated to match the article and specify that Armstrong has sold all of his common stock.— Protos (@Protos) November 21, 2022
― lag∞n, Monday, 21 November 2022 20:13 (one year ago) link
looks like brian armstrong owns 2/3 of the voting shares too
― 龜, Monday, 21 November 2022 20:19 (one year ago) link
oh whoops i see lags beat me
ok i think what happened is - a trust that brian armstrong owns sold all its class a shares, which is like 30k shares. but brian armstrong still owns like ~6 million class a shares. and a bunch of class b shares that give him 60% of the vote. he’s not going anywhere folks!
― 龜, Monday, 21 November 2022 20:24 (one year ago) link
― lag∞n, Monday, 21 November 2022 20:29 (one year ago) link
I am just as bullshit on crypto as ever.
― immodesty blaise (jimbeaux), Monday, 21 November 2022 20:31 (one year ago) link
I mean you can make boatloads of money off your company stock without completely selling out of it and looking like an obvious fraud.
― longtime caller, first time listener (man alive), Monday, 21 November 2022 22:58 (one year ago) link
lol this mf lost money in the biggest bull market ever
NEW: FTX and Alameda Research lost $3.7 billion before 2022. The huge loss is perplexing for two reasons: It contradicts the image SBF has portrayed of his companies, and it bucks the trend of a highly profitable 2021 for the cryptocurrency industry. https://t.co/Qr8lH5CMJH— Jeff Kauflin (@JeffKauflin) November 21, 2022
― lag∞n, Monday, 21 November 2022 23:02 (one year ago) link
I was listening to Slate Money on FTX, and they kept saying how unprecedented it was for "a company as big as FTX" to turn out to have no internal controls, no compliance, no proper accounting etc, and I just kept thinking "well was it actually big?" Like wasn't the company just a giant pufferfish, creating an illusion of size without much there?
― longtime caller, first time listener (man alive), Monday, 21 November 2022 23:02 (one year ago) link
yeah hard to say how much was real, also its crypto, its a shadow financial system where everything is a scam, those other companies youre thinking of exist in the normal financial system
― lag∞n, Monday, 21 November 2022 23:06 (one year ago) link
To give a very recent example, Enron existed in the "normal financial system" but turned out to be just as much of a Ponzi scheme as FTX, so this sort of thing is not really unprecedented. Bubbles based on financial/accounting/PR scams are as old as (modern) capitalism, cf. the South Sea Bubble, Dutch Tulip Bubble etc. etc.
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 10:14 (one year ago) link
sure but enron did have —internal controls, compliance, proper accounting etc— they were just subverting them via further accounting, what slate money found remarkable about ftx was not just that it was a scam but that it didnt even make any pretense of following standard business practices for companies holding billions of dollars on their books
― lag∞n, Tuesday, 22 November 2022 10:58 (one year ago) link
okay got it, thanks for clarifiying
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 11:02 (one year ago) link
Also, the Enron failures resulted in the nuking of one of the big 5 accounting firms and pretty big changes to accounting/audit rules wrt internal controls, audit functions, and corporate oversight (SOX etc.) Doing what they did 20 years ago would be a bit more difficult. Not impossible though - fraudsters want to fraud.
It appears FTX wasn't making much of a pretense of NOT being fraudulent. Probably because all of crypto is a fraud.
― The Bankruptcy of the Planet of the Apes (PBKR), Tuesday, 22 November 2022 13:06 (one year ago) link
its wild these companies set up in low regulation places like the bahamas and people are just like ok good normal
― lag∞n, Tuesday, 22 November 2022 13:57 (one year ago) link
im going to start a crypto company thats on a boat in international waters staffed by pirates who i taught to code
― lag∞n, Tuesday, 22 November 2022 14:08 (one year ago) link
the Bahamas, Delaware, Jersey, places of that nature
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 14:08 (one year ago) link
xp when international waters crypto trading goes bad
https://i.kym-cdn.com/entries/icons/mobile/000/029/190/monkey.jpg
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 14:09 (one year ago) link
or when it goes exactly to plan idk
tether is in the bahamas too, theres an interview going around with the tether guy bragging about how he introduced ftx to the local regulators lol im sure its fine
― lag∞n, Tuesday, 22 November 2022 14:10 (one year ago) link
why does a company need even need to be in a place, why do we believe in these limitations
― Clay, Tuesday, 22 November 2022 14:22 (one year ago) link
crypto companies should be decentralized (no place)
― lag∞n, Tuesday, 22 November 2022 14:24 (one year ago) link
sacks is the guy over there running twitter with elon now
This 2021 video is notorious on crypto twitter and deserves wider viewership. Watch VCs David Sacks and Chamath Palihapitiya brag about buying huge amounts of Solana at a discount, planning to dump on retail. Solana has been called one of "Sam's coins" b/c SBF was a booster. pic.twitter.com/pzerYYzkOV— Jacob Silverman (@SilvermanJacob) November 22, 2022
― lag∞n, Tuesday, 22 November 2022 14:25 (one year ago) link
why does a company need even need to be in a place, why do we believe in these limitations― Clay, Tuesday, November 22, 2022 9:22 AM (three minutes ago)bookmarkflaglinkcrypto companies should be decentralized (no place)― lag∞n, Tuesday, November 22, 2022 9:24 AM (one minute ago)
― Clay, Tuesday, November 22, 2022 9:22 AM (three minutes ago)bookmarkflaglink
― lag∞n, Tuesday, November 22, 2022 9:24 AM (one minute ago)
when coinbase initially filed for their ipo they listed no address lol
"Address not applicable""In May 2020, we became a remote-first company. Accordingly, we do not maintain a headquarters."@coinbase just changed the game Remote work is the future of all work pic.twitter.com/JfSU8ykFfb— Chris Herd (@chris_herd) February 25, 2021
― 龜, Tuesday, 22 November 2022 14:28 (one year ago) link
listening to these old rich morons say "hodling" is worth it honestly
― Clay, Tuesday, 22 November 2022 14:28 (one year ago) link
tether guy going out like
🔲 atm rat🔲 john mcafee 🔲 satoshi nakamoto (rip eaten by atm rat)
― mark s, Tuesday, 22 November 2022 14:29 (one year ago) link
ah moved to dubai and built close ties with the uae leadership very nice
New JP Morgan riding into town: "Zhao, who moved to Dubai last year and has built close ties with the UAE leadership, is casting himself as the crypto world’s rescuer-in-chief after the spectacular downfall of Sam Bankman-Fried."https://t.co/Xob9HLH7G6— Jacob Silverman (@SilvermanJacob) November 22, 2022
― lag∞n, Tuesday, 22 November 2022 15:11 (one year ago) link
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 10:14 (five hours ago) link
I mean literally the same guy who was appointed to oversee Enron during bankruptcy was appointed to oversee FTX during bankruptcy and came out and said he's never seen anything like this before.
― longtime caller, first time listener (man alive), Tuesday, 22 November 2022 15:23 (one year ago) link
haha wow
― Critique of the Goth Programme (Neil S), Tuesday, 22 November 2022 15:24 (one year ago) link
enron was a huge legitimate company that started doing fraud to cover for their very bad business decisions, ftx was 10 dudes in a room coding and doing day trading
― lag∞n, Tuesday, 22 November 2022 15:26 (one year ago) link
+getting vcs to give them money
― lag∞n, Tuesday, 22 November 2022 15:27 (one year ago) link
and lobby washington
https://www.vice.com/en/article/xgyp8d/how-sbf-created-the-new-playbook-for-manipulating-washington-dc
― lag∞n, Tuesday, 22 November 2022 15:29 (one year ago) link
living the dream really owning a massively rich company without the company part to worry about
― lag∞n, Tuesday, 22 November 2022 15:30 (one year ago) link
yeah, that's kinda what I'm saying, I don't think there was ever really much there with FTX.
― longtime caller, first time listener (man alive), Tuesday, 22 November 2022 15:33 (one year ago) link
There was a website, I guess
― G. D’Arcy Cheesewright (silby), Tuesday, 22 November 2022 15:50 (one year ago) link
people are saying good things about the website
― lag∞n, Tuesday, 22 November 2022 15:52 (one year ago) link
i fuckin love effective altruism
Based on preliminary investigations, $300m worth of Bahamian property was purchased by FTX and used by senior executives at the exchange— Frank Chaparro (@fintechfrank) November 22, 2022
― lag∞n, Tuesday, 22 November 2022 18:23 (one year ago) link
gonna start spamming this to anyone who lost money in FTX and see who bites
https://www.youtube.com/watch?v=FTHw6xryUIU
― frogbs, Wednesday, 23 November 2022 21:44 (one year ago) link
interesting anecdotes https://www.tbray.org/ongoing/When/202x/2022/11/19/AWS-Blockchain
― 𝔠𝔞𝔢𝔨 (caek), Wednesday, 23 November 2022 22:14 (one year ago) link
good story, traveling the world searching for a use for crypto
― lag∞n, Friday, 25 November 2022 13:59 (one year ago) link
someones been buying crazy amounts of tethers with another stablecoin for some reason
🚨Someone is working very hard to protect the Tether peg on Curve. One address has bought some $1.3 billion USDT on Curve with USDC over the last month, sending it all to Bitfinex... and given the tiny spread there is no way this is a profitable trade.🧵👇 pic.twitter.com/zUAF4HGezJ— DIRTY BUBBLE MEDIA: BARRY! (@MikeBurgersburg) November 25, 2022
― lag∞n, Friday, 25 November 2022 14:00 (one year ago) link
?
Mike - you misunderstand what’s going on here. Happy to chat with you on a space.You’ve got it backwards.Someone is actively trying to profit off of depegging USDT in DeFi. Then others are arbitraging it bad to peg and profiting on that. https://t.co/TMUC055GqT— Brad Mills (🔑,🧀) (@bradmillscan) November 25, 2022
― lag∞n, Friday, 25 November 2022 14:03 (one year ago) link
shorting tether seems like a very stupid game
― lag∞n, Friday, 25 November 2022 14:04 (one year ago) link
Ok I'm no longer angry at the 3AC clowns and am sitting back in my lazyboy for max comfort viewing. Shitposting right wing degen loses a few billion, disappears to Dubai, converts to Islam, becomes a new age lifestyle podcaster while looking over his shoulder for the FBI. Sure! https://t.co/FsPX9w8frG— Jacob Silverman (@SilvermanJacob) November 28, 2022
― lag∞n, Monday, 28 November 2022 19:22 (one year ago) link
How significant is this?
Today, BlockFi filed voluntary cases under Chapter 11 of the U.S. Bankruptcy Code.https://t.co/adaAx6me4r— BlockFi (@BlockFi) November 28, 2022
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Monday, 28 November 2022 19:57 (one year ago) link
(was trending on Twitter)
really couldn't be a better time for fake "verified" twitter accounts to come into the mix of this shitstorm, could there
― longtime caller, first time listener (man alive), Monday, 28 November 2022 19:58 (one year ago) link
(not in ref to the blockfi thing, btw)
iirc blockfi has been known to be in trouble for a while now, so not really big seal imo
― 龜, Monday, 28 November 2022 22:53 (one year ago) link
This old SBF post arguing that Shakespeare is a “shitty writer” reveals him to be a plotcel rather than a word rotator https://t.co/prhwtLPDSf pic.twitter.com/8pEL2n6xpY— Andrew Prokop (@awprokop) November 29, 2022
― lag∞n, Tuesday, 29 November 2022 22:29 (one year ago) link
if he paid attention in high school he would have realized this was discussed in class lol
― mh, Tuesday, 29 November 2022 22:37 (one year ago) link
I’m glad I have the word “plotcel” to describe a kind of person I hate now!!
― G. D’Arcy Cheesewright (silby), Tuesday, 29 November 2022 22:44 (one year ago) link
isn't this the dude who says he doesn't read books? kind of checks out that everything he namechecks is something my high school english classes covered
"I've read these five books (teachers made me) and they are bad"
― mh, Tuesday, 29 November 2022 22:46 (one year ago) link
Damn, I can't believe Austen decided that women shouldn't have careers.
― jmm, Tuesday, 29 November 2022 22:47 (one year ago) link
finally someone said it
― lag∞n, Tuesday, 29 November 2022 22:55 (one year ago) link
And Shakespeare isn't alone in being a shitty writer from hundreds of years ago.
― difficult listening hour, Wednesday, 30 November 2022 01:12 (one year ago) link
anyway, so much for being doted on by the drossy age. blow them to their trials, the bubbles are out.
― difficult listening hour, Wednesday, 30 November 2022 02:29 (one year ago) link
Jane Austen lacked the imagination to believe that women could be capable of productive contributions to society, such as engaging in tulip arbitrage
― longtime caller, first time listener (man alive), Wednesday, 30 November 2022 04:21 (one year ago) link
Miners, who raised as much as $4 billion from mining-equipment financing when profit margins were as high as 90%, are defaulting on loans and sending hundreds of thousands of machines that served as collateral back to lenders. New York Digital Investment Group, Celsius Network, BlockFi Inc., Galaxy Digital, and the Foundry unit of Digital Currency Group were among the biggest providers of funding to finance computer equipment and build data centers.
https://www.bloomberg.com/news/articles/2022-11-30/crypto-lenders-woes-worsen-as-bitcoin-btc-miners-struggle-to-repay-debt
― lag∞n, Wednesday, 30 November 2022 17:25 (one year ago) link
good news for pc gamers tho
nah bitcoin miners have all used custom ASICs for years now that have, like, no other purpose than hashing. GPUs were still viable for eth
― G. D’Arcy Cheesewright (silby), Wednesday, 30 November 2022 17:39 (one year ago) link
until the proof-of-stake switch made it irrelevant I guess
saw some thing that gpu prices are dow 50% over the last six months
― lag∞n, Wednesday, 30 November 2022 20:22 (one year ago) link
what a fucking farrago
― Tracer Hand, Wednesday, 30 November 2022 22:00 (one year ago) link
why wont this guy stop talking, hes genuinely strange
Let's see how this goes: https://t.co/BLtMDNIONI— @BennettTom✧✧✧@ms✧✧✧.soc✧✧✧ (@BennettTomlin) November 30, 2022
― lag∞n, Wednesday, 30 November 2022 22:37 (one year ago) link
he thinks he can just keep conning, the jig is up buddy
― lag∞n, Wednesday, 30 November 2022 22:38 (one year ago) link
Reporters don’t have friends
― G. D’Arcy Cheesewright (silby), Wednesday, 30 November 2022 22:43 (one year ago) link
Oh damn I meant to put the one in the thread where he’s like “my longtime friend who I forgot was a reporter” about the Vox reporter who definitely wasn’t his friend
yeah they def werent friends she had talked to him before for a story awhile doing her job as a reporter, its a bizarre claim
― lag∞n, Wednesday, 30 November 2022 22:47 (one year ago) link
He probably doesn’t really know what a “friend” is
― G. D’Arcy Cheesewright (silby), Wednesday, 30 November 2022 22:52 (one year ago) link
yeah something like that
― lag∞n, Wednesday, 30 November 2022 22:55 (one year ago) link
Call me crazy, but I think @sbf is telling the truth.— Bill Ackman (@BillAckman) November 30, 2022
― lag∞n, Wednesday, 30 November 2022 22:57 (one year ago) link
https://vancouversun.com/news/world/cryptocurrency-billionaire-vyacheslav-taran-dies-in-mysterious-chopper-crash/wcm/94c27f47-ac91-493e-8098-c8e2f1ef3ffb
Cryptocurrency billionaire Vyacheslav Taran dies in mysterious chopper crashThe latest to die, according to the Daily Mail, is Russian billionaire Vyacheslav Taran, 53, who was killed in a Nov. 25 helicopter crash near the French resort town of Villefranche-sur-Mer after taking off from Lausanne, Switzerland.
The latest to die, according to the Daily Mail, is Russian billionaire Vyacheslav Taran, 53, who was killed in a Nov. 25 helicopter crash near the French resort town of Villefranche-sur-Mer after taking off from Lausanne, Switzerland.
― Elvis Telecom, Thursday, 1 December 2022 08:30 (one year ago) link
what’s the Russian expression for “where’s my money”?
― Tracer Hand, Thursday, 1 December 2022 10:20 (one year ago) link
I think it’s the sound of cocking a Glock
― assert (matttkkkk), Thursday, 1 December 2022 10:26 (one year ago) link
if sbf never stops confessing they can never start charging him tapsheadwisely.gif
― mark s, Thursday, 1 December 2022 11:26 (one year ago) link
More from here:https://cointelegraph.com/news/libertex-crypto-exchange-head-vyacheslav-taran-dies-in-helicopter-crash-in-france
Taran is the third crypto executive to die unexpectedly in recent weeks. Amber Group cofounder Tiantian Kullander (TT) died on Nov. 23 in his sleep at the age of 30, and MakerDAO cofounder Nikolai Mushegian drowned in Puerto Rico on Oct. 28 at the age of 29. Taran is also the latest in a long string of Russian businessmen to die under various circumstances.Taran’s death has led to some speculation in the press. The helicopter accident that claimed Taran’s life is under investigation; It took place in good weather conditions with an experienced pilot. According to France Bleu, a second passenger was booked for the flight but canceled at the last minute.
Taran’s death has led to some speculation in the press. The helicopter accident that claimed Taran’s life is under investigation; It took place in good weather conditions with an experienced pilot. According to France Bleu, a second passenger was booked for the flight but canceled at the last minute.
― Elvis Telecom, Thursday, 1 December 2022 12:25 (one year ago) link
suppose that's a change from the crypto bro who faked his own death on his way to stealing all his users funds https://nypost.com/2021/12/20/mystery-of-crypto-ceo-who-died-taking-250-million-with-him/
― 龜, Thursday, 1 December 2022 14:32 (one year ago) link
there's a decent CBC podcast about that dude titled "A Death in Cryptoland"
I was left with the impression there might not have been a lot of money to run off with
― mh, Thursday, 1 December 2022 17:42 (one year ago) link
one of the most bizarre details was that the guy handling cash-outs from Quadriga holders was someone living in a trailer in Quebec who was just moving bags of money around, iirc
― mh, Thursday, 1 December 2022 17:43 (one year ago) link
moving them around the trailer?
― mark s, Thursday, 1 December 2022 17:47 (one year ago) link
The trailers in Quebec are pretty large
― Halfway there but for you, Thursday, 1 December 2022 17:49 (one year ago) link
my bad, it was New Brunswickhttps://www.cbc.ca/radio/podcastnews/transcript-a-death-in-cryptoland-e5-where-s-the-money-gerry-1.6196653
And I'd never heard of Aaron Matthews. And so I looked up the address that was on the registration and I found that it was this prefab home park in New Brunswick. And this is the address where this user has been asked to send his money. And I just thought that's really strange, because at the time I thought of Quadriga as very much a Vancouver entity. And here we have money being wired to this guy in New Brunswick.
I may be confusing this with another crypto operation but I think that to assuage one investor who was threatening them if they didn't get money out, a bag of cash was delivered in person at some point
― mh, Thursday, 1 December 2022 19:20 (one year ago) link
that guy seems like did actually just die on vacation in india i watched a show on it and they interviewed the doctor who treated him seemed legit, and it also seemed like that he actually lost most of the money via bad investing rather than stealing, tho he did obvs steal some of it
― lag∞n, Friday, 2 December 2022 15:52 (one year ago) link
speaking of crypto fraud tho
Wow, tell us Tether is running a Ponzi scheme without telling us that Tether is running a Ponzi scheme. Just listen to his answers. IMHO, as a former SEC enforcement official of 18 yrs, the evasion/deflection/lack of responsiveness makes me believe Tether is a house of cards. https://t.co/smBHui1Djv— John Reed Stark (@JohnReedStark) December 2, 2022
― lag∞n, Friday, 2 December 2022 15:53 (one year ago) link
tho the bad investing was a form of stealing he wasnt supposed to be investing depositors funds xp self, but rather than being alive hoarding the money somewhere more likely hes dead and the money is gone
― lag∞n, Friday, 2 December 2022 15:57 (one year ago) link
wild how common the investing depositors funds without asking pattern is in crypto no one wants to just opperate a normal exchange
― lag∞n, Friday, 2 December 2022 15:58 (one year ago) link
good show tho i think its on netflix everyone said he presented as this upbeat honest enthusiastic almost innocent crypto true believer then after he died they found another internet fraud in his past lol
― lag∞n, Friday, 2 December 2022 16:01 (one year ago) link
Levine good yesterday on the waft of ponzi coming off tether
― 𝔠𝔞𝔢𝔨 (caek), Friday, 2 December 2022 16:22 (one year ago) link
yeah otm
― lag∞n, Friday, 2 December 2022 16:23 (one year ago) link
tether has stunk ever since they posted this lol
https://cloudfront-us-east-1.images.arcpublishing.com/coindesk/TB33XCJ57VECRBTITBRQW5TJGU.png
― 龜, Friday, 2 December 2022 16:29 (one year ago) link
Pie charts that have the vibe of an obvious lie
― G. D’Arcy Cheesewright (silby), Friday, 2 December 2022 16:33 (one year ago) link
who would even slice a pie up that way
― lag∞n, Friday, 2 December 2022 16:34 (one year ago) link
is tether the one where they claim to have a bunch of currency but wouldn’t say what country’s?
― mh, Friday, 2 December 2022 16:52 (one year ago) link
Are there any standards at all for what can be considered "commercial paper?" I'm guessing not in their case if they're not audited anyway. And of course it could all just be made up for that matter.
― longtime caller, first time listener (man alive), Friday, 2 December 2022 16:54 (one year ago) link
journalists have talked to all the big commercial paper brokers and have never been able to find someone whos done business with tether, which is interesting considering how much of it they claim to own
― lag∞n, Friday, 2 December 2022 16:57 (one year ago) link
FTX commercial paper
― longtime caller, first time listener (man alive), Friday, 2 December 2022 17:05 (one year ago) link
papercoin
― lag∞n, Friday, 2 December 2022 17:06 (one year ago) link
for while they were claiming to own a bunch of chinese debt which was a random twist
― lag∞n, Friday, 2 December 2022 17:11 (one year ago) link
levine musing about what could be happening now that tether is saying theyre loaning out tethers
You have 1,000 Bitcoin worth about $17 million.You want to buy more Bitcoin, but you do not have any dollars.You go to Tether and say “hey give me 17 million USDT, in exchange I’ll put up 2,000 Bitcoins as collateral.”Tether is like “sure that’s the business we’re in” and hands you 17 million USDT.You use that 17 million USDT — notionally worth $17 million — to buy 1,000 more Bitcoin.Now you have 2,000 Bitcoin.You post the 2,000 Bitcoin as collateral to Tether for the loan, which is now overcollateralized with liquid collateral ($34 million worth of Bitcoin).More USDT have been created to buy Bitcoin, but no new dollars have come into the system.
https://www.bloomberg.com/opinion/articles/2022-12-01/sbf-missed-ftx-s-risks
― lag∞n, Friday, 2 December 2022 17:15 (one year ago) link
Are there any standards at all for what can be considered "commercial paper?" I'm guessing not in their case if they're not audited anyway. And of course it could all just be made up for that matter.― longtime caller, first time listener (man alive), Friday, December 2, 2022 11:54 AM (thirty minutes ago)
― longtime caller, first time listener (man alive), Friday, December 2, 2022 11:54 AM (thirty minutes ago)
needs to be rated by one of the rating agencies, typically will have to be at investment grade or higher
https://www.investopedia.com/articles/investing/070313/introduction-commercial-paper.asp
Defaults are more common than in past years. Prior to the financial crisis of 2007-08, commercial paper issuers in the U.S. defaulted on approximately 3% of their issues. That number rose sharply in 2007-08. In fact, the outstanding amount of commercial paper dropped by around 29% by September 2008 for fear of continued default.One famous example of commercial paper default took place in 1970 when the transportation giant Penn Central declared bankruptcy. The company defaulted on all of its commercial paper obligations. The immediate consequence was that its creditors lost their money. There was so much Penn Central commercial paper floating around that the entire commercial paper market took a hit. Issuers who had no relation to Penn Central saw investors lose confidence in the instrument altogether. The commercial paper market declined by nearly 10% within a month. After this debacle, the practice of buying backup loan commitments as a form of insurance for commercial paper became commonplace in the market.
One famous example of commercial paper default took place in 1970 when the transportation giant Penn Central declared bankruptcy. The company defaulted on all of its commercial paper obligations. The immediate consequence was that its creditors lost their money. There was so much Penn Central commercial paper floating around that the entire commercial paper market took a hit. Issuers who had no relation to Penn Central saw investors lose confidence in the instrument altogether. The commercial paper market declined by nearly 10% within a month. After this debacle, the practice of buying backup loan commitments as a form of insurance for commercial paper became commonplace in the market.
a "cash equivalent" is not supposed to have a risk of default!
― 龜, Friday, 2 December 2022 17:27 (one year ago) link
it pains me to admit it, but doing some googling suggests that certain kinds of commercial paper are in fact treated like cashlike equivalent :|
― 龜, Friday, 2 December 2022 17:50 (one year ago) link
they certainly are, just look at the "cash and cash equivalents" line item on any corporate balance sheet
― longtime caller, first time listener (man alive), Friday, 2 December 2022 17:51 (one year ago) link
can't be fraud if you don't even buy into the ponzi scheme you promised to buy into
Did the Bitcoin in FTX even exist?Last night Sam Bankman-Fried admits that when people sent money to buy bitcoin, FTX didn’t actually buy bitcoin for you. pic.twitter.com/GWssuY2kJB— Genevieve Roch-Decter, CFA (@GRDecter) December 2, 2022
― mark s, Friday, 2 December 2022 19:07 (one year ago) link
lol, lmao
― lag∞n, Friday, 2 December 2022 19:10 (one year ago) link
tired: bitcoin is fakewired: bitcoin doesnt exist
― lag∞n, Friday, 2 December 2022 19:12 (one year ago) link
lol I hadn't heard SBF speak before
perfect voice for the role
― mh, Friday, 2 December 2022 19:37 (one year ago) link
The voice of an underprepared dungeon master.
― The Bankruptcy of the Planet of the Apes (PBKR), Friday, 2 December 2022 19:46 (one year ago) link
the guy every vc thought was a genius
― lag∞n, Friday, 2 December 2022 19:47 (one year ago) link
Why is that guy talking to literally everyone
― Lord Pickles (Boring, Maryland), Friday, 2 December 2022 19:57 (one year ago) link
menawhile now at last catching up on the lifestory of kim dotcom, visible there in the top righthand corner
i feel like i've known abt this guy my entire life -- without knowing the half of it, or indeed the hundredth
his wikipedia page is full of very funny sentences: "Immigration New Zealand made its decision on his application, despite his foreign convictions and despite his persona non grata status in Thailand, after officials used a special direction to waive "good character" requirements [citation needed]"
― mark s, Friday, 2 December 2022 19:59 (one year ago) link
seems like its a campaign to present himself as an idiot rather than a con man to the court of public opinion, only problem is he keeps admitting to crimes which could hurt him in the court of law xp
― lag∞n, Friday, 2 December 2022 19:59 (one year ago) link
xp very altruistic in allowing interviews
― mh, Friday, 2 December 2022 19:59 (one year ago) link
― mark s, Thursday, 1 December 2022 11:26 (yesterday) bookmarkflaglink
^^^
― mark s, Friday, 2 December 2022 20:00 (one year ago) link
feel like these dudes think that things coming out in discovery look bad but if you're just constantly talking about stuff you just happened to do you couldn't be criminal. just chumming the water with all kinds of leads
mark s is on the case
― mh, Friday, 2 December 2022 20:01 (one year ago) link
also might just be dumb and impulsive
― G. D’Arcy Cheesewright (silby), Friday, 2 December 2022 20:10 (one year ago) link
he accidentally leans over on camera and we see half a dozen stimulant patches stuck to his back
― mh, Friday, 2 December 2022 20:13 (one year ago) link
Rolling Stone....thank you🐦[I interviewed some people and wrote about how a generation got into (formal) politics for the first time with Jeremy Corbyn and got told to shut up and what happens with that now: https://t.co/mc2aXi1ECZ🕸 for @RollingStoneUK🕸— Great Editor (@simonchilds13) March 28, 2022🕸]🐦
it is really hard to tell what it real and what isn't real there <3
can't be fraud if you don't even buy into the ponzi scheme you promised to buy into 🐦[Did the Bitcoin in FTX even exist?Last night Sam Bankman-Fried admits that when people sent money to buy bitcoin, FTX didn’t actually buy bitcoin for you. pic.twitter.com/GWssuY2kJB🕸— Genevieve Roch-Decter, CFA (@GRDecter) December 2, 2022🕸]🐦
― tsrobodo, Saturday, 3 December 2022 02:27 (one year ago) link
Dear esteemed investors of the “cosa nostra”Greetings from coinfuck,We regret to inform you that due to market forces beyond our control, money has gone bye bye. We thank you for your interest in our project and trust that you understand that our hands are tied.— warrior cop (@wyatt_privilege) December 4, 2022
This is past and present not future https://t.co/se7hdp51x9— warrior cop (@wyatt_privilege) December 4, 2022
(elvis telecom posted some of these earlier but the point is worth remaking i think)
― mark s, Sunday, 4 December 2022 17:18 (one year ago) link
if sbf never stops confessing on a zoom feat.kim dotcom the mafia can never sleep him with the fishes
― mark s, Sunday, 4 December 2022 20:01 (one year ago) link
tons of russian rich guys getting killed, crypto related or otherwise, russia was a haven for scammers, maybe theyre using the war as cover to get rid of some of them
― lag∞n, Monday, 5 December 2022 04:18 (one year ago) link
"What money did you use to purchase those shares in Robinhood?""The first thing I'll say is dollar bills are generally fungible..."Listen to the full @fintechfrank x @SBF_FTX episode now: https://t.co/CGPPpvBxZF pic.twitter.com/RGP6Vw9fyk— The Scoop (@TheScoopPod) December 5, 2022
― lag∞n, Monday, 5 December 2022 15:10 (one year ago) link
tht sbf had grown a cool soulpatch there but it's a bit of gunk on the screen of my laptop
― mark s, Monday, 5 December 2022 15:14 (one year ago) link
seems normal
#Tether Launches Offshore Chinese Yuan (CNH₮) on #TronRead More: https://t.co/0lsOICZPP9 pic.twitter.com/ejlUKGojzi— Tether (@Tether_to) December 6, 2022
― lag∞n, Tuesday, 6 December 2022 19:03 (one year ago) link
NEW: The Justice Department is investigating Sam Bankman-Fried for market manipulation -- focused on whether trading by Sam Bankman-Fried's crypto hedge fund helped trigger the Luna collapse in May. w/ @FlitterOnFraud @MattGoldstein26 https://t.co/fbQONY4gmF— David Yaffe-Bellany (@yaffebellany) December 8, 2022
― lag∞n, Thursday, 8 December 2022 01:00 (one year ago) link
and that's May, once the Justice Department catches up to November they'll be really excited
― G. D’Arcy Cheesewright (silby), Thursday, 8 December 2022 01:14 (one year ago) link
these crypto companies are crazy for driving each other out of business theyre all cards in the house (of cards)
― lag∞n, Thursday, 8 December 2022 03:07 (one year ago) link
Oh look FTX hosted all the NFTs minted on their platform using a web2 API and now all those NFTs have broken metadata and the links go to a restructuring website. pic.twitter.com/hsQgVru4BL— jac0xb.sol (@jacobdotsol) December 7, 2022
― lag∞n, Thursday, 8 December 2022 04:45 (one year ago) link
Quite possibly, my favorite NFT The SBF "Test" NFT that sold for 270k...It currently links to Kroll's FTX bankruptcy page.https://t.co/uFBQ52ubBF— StateCommon (@StateCommon) December 8, 2022
― lag∞n, Thursday, 8 December 2022 05:15 (one year ago) link
man you just can't make this shit up
― sleeve, Thursday, 8 December 2022 06:03 (one year ago) link
But you could warn people that exactly this was going to happen and have them insist you just didn’t understand
― longtime caller, first time listener (man alive), Friday, 9 December 2022 01:09 (one year ago) link
Today, Starbucks launched its web3 loyalty program, which could radically change the perception of NFTs. Here’s what it means for coffee lovers and the future of brand marketing: pic.twitter.com/JFAd4CbueA— Matt Smolin (@Estimatted) December 8, 2022
― lag∞n, Friday, 9 December 2022 13:35 (one year ago) link
I got an invite! Haven’t really explored though. I have low expectations.
― Jeff, Friday, 9 December 2022 14:27 (one year ago) link
acquire the coffee nfts and grow rich
― lag∞n, Friday, 9 December 2022 14:46 (one year ago) link
the level of corruption in crypto is frankly very high
CEO of crypto media outlet The Block resigns after it's revealed he took tens of millions in loans from Sam Bankman-FriedDecember 9, 2022https://t.co/n9cgpsi4I9 pic.twitter.com/apHWMHQYJm— web3 is going just great (@web3isgreat) December 10, 2022
― lag∞n, Saturday, 10 December 2022 00:08 (one year ago) link
ethics in crypto journalism!
― peace, man, Saturday, 10 December 2022 00:16 (one year ago) link
ohhhhh myyyyyy goooooood pic.twitter.com/Z7ia9ClRG3— mr. pussy (@nuns_on_film) December 7, 2022
social media has just not been good for criminals
― lag∞n, Saturday, 10 December 2022 01:24 (one year ago) link
i use an alt for crimes
― Clay, Saturday, 10 December 2022 01:33 (one year ago) link
common sense really
thats the way to do it name it like clay_crimes
― lag∞n, Saturday, 10 December 2022 01:37 (one year ago) link
bro dont give out my alt
― Clay, Saturday, 10 December 2022 01:41 (one year ago) link
my bad
― lag∞n, Saturday, 10 December 2022 01:46 (one year ago) link
all the big crypto guys have a group chat
It's frustrating that "cartel" is solely associated with powerful drug gangs because it's a very useful term https://t.co/vVpuYDf1iZ— Malcolm Harris (@BigMeanInternet) December 10, 2022
― lag∞n, Saturday, 10 December 2022 16:51 (one year ago) link
“My honest advice: stop doing everything. Put on a suit, and go back to DC, and start to answer questions,” Mr. Zhao told Mr. Bankman-Fried.
“Thanks for the advice!” Mr. Bankman-Fried replied, asking Mr. Zhao to clarify: “Did you attempt to accuse me of trying to depeg a stablecoin by doing a $250,000 trade?”
Mr. Ardoino eventually jumped in: “Just to be clear, we’ll redeem whatever amount of money comes to us. We’re solid.”
― lag∞n, Saturday, 10 December 2022 16:54 (one year ago) link
Argo is preparing for a bankruptcy on Monday, per a screenshot of a document sent my way (likely accidentally posted). https://t.co/aXmFuMNSXF pic.twitter.com/kQtLwZOKct— Will Foxley 🧭 (@wsfoxley) December 9, 2022
― lag∞n, Saturday, 10 December 2022 17:05 (one year ago) link
Jimmy Fallon, Gwyneth Paltrow, Justin Bieber, and other celebrities are being sued for endorsing NFTs and misleading their followers with undisclosed payments from Bored Ape: https://t.co/IQPDCsyx0k pic.twitter.com/w6Dwqz2Npw— Ryan Brown 🎮 (@Toadsanime) December 10, 2022
― lag∞n, Sunday, 11 December 2022 00:43 (one year ago) link
GET THEM
― Tracer Hand, Sunday, 11 December 2022 00:45 (one year ago) link
it was so obvious
― lag∞n, Sunday, 11 December 2022 00:47 (one year ago) link
Surely Fallon has also fallen afoul of any NBC network standards and practices regs.
― Lord Pickles (Boring, Maryland), Sunday, 11 December 2022 01:27 (one year ago) link
yeah couldnt believe that shit was on the air, quite audacious, he couldve just put it on the socials like a normal celeb
― lag∞n, Sunday, 11 December 2022 01:32 (one year ago) link
the one with him and paris hilton was the single most psychotic thing i've ever seen coming from the famously psychotic genre of late night talk show
― Clay, Sunday, 11 December 2022 01:34 (one year ago) link
crazy these people have more money than they could ever spend and theyre out there doing fraud with weird internet guys, tho tbf they were prob recruited by intermediaries as max detailed https://maxread.substack.com/p/mapping-the-celebrity-nft-complex
― lag∞n, Sunday, 11 December 2022 01:34 (one year ago) link
i just watched it like 10x in a row lol xp paris claims to have given fallon the idea and gotten the idea from him all within five seconds
Deeply strange pic.twitter.com/ycilbi1iNL— James Kelleher (@etienneshrdlu) January 25, 2022
― lag∞n, Sunday, 11 December 2022 01:37 (one year ago) link
i got an apei got an ape tooyou did?this is my apethis is your ape! this is my apei love ityeah
― Clay, Sunday, 11 December 2022 01:39 (one year ago) link
i like the ape even though im instinctively revoted by the stench of loser desperation coming off of it
yeah me too its fun
― lag∞n, Sunday, 11 December 2022 01:42 (one year ago) link
It's like pogs but if pogs were a massive financial sinkhole that ruined lives
― Beautiful Bean Footage Fetishist (Old Lunch), Sunday, 11 December 2022 03:17 (one year ago) link
so _exactly_ like pogs then
― slai gorgeous-alexander (m bison), Sunday, 11 December 2022 03:37 (one year ago) link
like pogs with pictures of beanie babies on them
― lag∞n, Sunday, 11 December 2022 03:38 (one year ago) link
BlockFi got a $400m credit line from FTX US and drew down $250m, not in cash but in FTT tokens.BlockFi lent $680m to Alameda, not in FTT tokens but in client deposits.Maybe @BlockFiZac and @SBF_FTX can explain how this isn't outright fraud with US-regulated entities. pic.twitter.com/et2u9TMqHM— Ben Hunt (@EpsilonTheory) December 11, 2022
its pretty satisfying to see the pervasive collusion come to light, i look forward to learning the details of all the price manipulation schemes
― lag∞n, Sunday, 11 December 2022 15:22 (one year ago) link
Who’s playing SBF in the movie, is Jesse Eisenberg too old now?
― G. D’Arcy Cheesewright (silby), Sunday, 11 December 2022 16:52 (one year ago) link
honestly i recommend finding a very precocious child and telling them that they're the best actor in the world. let them wing it in every single scene and then make up an award and tell them they won it for best acting
― Karl Malone, Sunday, 11 December 2022 17:13 (one year ago) link
That’d be very funny
― G. D’Arcy Cheesewright (silby), Sunday, 11 December 2022 17:17 (one year ago) link
https://i.ytimg.com/vi/kyX9aldzA-o/sddefault.jpg
― Beautiful Bean Footage Fetishist (Old Lunch), Sunday, 11 December 2022 17:17 (one year ago) link
Feel like one shouldn’t lie to children tho
not sure where the dirty money is coming from in this formulation but it sounds interesting
That’s how the money laundering works. You invent a shitcoin and sell the shitcoins to dirty money “suckers”.SBF was the designated “sucker”. In reality, he got that money to launder it. The extra suckers he reeled in was just gravy. https://t.co/1foI3bShYl— Bitfinex’ed 🔥🐧 Κασσάνδρα 🏺 (@Bitfinexed) December 12, 2022
― lag∞n, Monday, 12 December 2022 17:42 (one year ago) link
weird how many criminals there are around crypto
Eva Kaili, the ex-PASOK MEP was one of the most vocal proponents of crypto in EU. She was arrested today on suspicions of corruption, with bags of cash reportedly in her flat. Not very crypto. The q now is if only Quatar paid her, or crypto firms as well. https://t.co/yZjlK936V0— @b✧✧✧@some✧✧✧.el✧✧✧.compu✧✧✧ (@bodobalazs) December 10, 2022
― lag∞n, Monday, 12 December 2022 19:39 (one year ago) link
if youre going to do crime at least take it seriously dont be cute
The crypto platform’s founders Sam Bankman-Fried and Zixiao “Gary” Wang, engineer Nishad Singh and ex-Alameda Research CEO Caroline Ellison had a dubious forum. https://t.co/GifgvvMPKt— Financial Review (@FinancialReview) December 12, 2022
― lag∞n, Monday, 12 December 2022 20:42 (one year ago) link
guess the media tour did not work
BREAKING: FTX founder Sam Bankman-Fried arrested in the Bahamas after U.S. files criminal charges https://t.co/0zAaXiED9X— CNBC Now (@CNBCnow) December 12, 2022
― lag∞n, Monday, 12 December 2022 23:44 (one year ago) link
*publicly confesses to crimes* theyll never arrest me now, im rly self-aware B-)
― slai gorgeous-alexander (m bison), Tuesday, 13 December 2022 00:21 (one year ago) link
poor kid i feel bad for him, just an innocent computer boy caught up in the go go world of international money laundering and wire fraud
― Clay, Tuesday, 13 December 2022 00:27 (one year ago) link
weve all been there one day youre a billionaire the next youre in the feds such is this crazy lil thing called life
― lag∞n, Tuesday, 13 December 2022 00:32 (one year ago) link
there should be a new Keating Five with the same punishment (slap on wrist, maverick status)
― mh, Tuesday, 13 December 2022 00:34 (one year ago) link
SDNY unsealing indictment tomorrow, we'll see if Matt Levine waits for that to come out before he pubs the newsletter
USA Damian Williams: Earlier this evening, Bahamian authorities arrested Samuel Bankman-Fried at the request of the U.S. Government, based on a sealed indictment filed by the SDNY. We expect to move to unseal the indictment in the morning and will have more to say at that time.— US Attorney SDNY (@SDNYnews) December 12, 2022
― G. D’Arcy Cheesewright (silby), Tuesday, 13 December 2022 00:38 (one year ago) link
reading the full "Samuel Bankman-Fried" really has a "get in here, this instant!" vibe.
― longtime caller, first time listener (man alive), Tuesday, 13 December 2022 03:41 (one year ago) link
Re: SBF’s parents, this is an insanely sympathetic story, all of these people should be thrown off a cliff afaic https://www.nytimes.com/2022/12/12/technology/sbf-parents-ftx-collapse.html
― Goose Bigelow, Fowl Gigolo (the table is the table), Tuesday, 13 December 2022 11:51 (one year ago) link
tbh as soon as it emerged that sbf's parents were stanford law professors with sidelines in moral philosophy (mum) and psychology (dad) they shd have locked the whole family up and invented charges afterwards
― mark s, Tuesday, 13 December 2022 12:34 (one year ago) link
this is justice as i understand it
the trolley problem but anyone walking on a train line has their life insurance paid to the train company and the train driver is on a pedestrians killed KPI bonus scheme
― Camaraderie at Arms Length, Tuesday, 13 December 2022 12:52 (one year ago) link
impressive
SBF FACES 8 COUNTS:1- Conspiracy to Commit Wire Fraud on Customers2- Wire Fraud on Cust3- CtC Wire Fraud on Lenders4- Wire Fraud on Ls5- CtC Commodities Fraud6- CtC Securities Fraud7- CtC Money Laundering8- Conspiracy to violate Campaign Fin Lawshttps://t.co/eVsN6WBrXF— kadhim (^ー^)ノ (@kadhim) December 13, 2022
― lag∞n, Tuesday, 13 December 2022 15:09 (one year ago) link
Wire Fraud on Ls: accurate if unkind description of those defrauded imo
― mark s, Tuesday, 13 December 2022 15:24 (one year ago) link
can't believe these out-of-control woke courts are trying to criminalise the the simple act of doing crimes
― rick semper moranis (bizarro gazzara), Tuesday, 13 December 2022 15:26 (one year ago) link
― lag∞n, Tuesday, 13 December 2022 16:24 (one year ago) link
someone on twitter said that all the charges are related to ftx investors, people who gave them actual money, cause the prosecutors dont want to deal with crypto
― lag∞n, Tuesday, 13 December 2022 16:38 (one year ago) link
Reasonably, probably
― G. D’Arcy Cheesewright (silby), Tuesday, 13 December 2022 16:39 (one year ago) link
You wanna explain crypto to a jury?
asked and answered at the house committee on financial services
Rep. Perlmutter (D-CO) asks if dogecoin is pronounced "doe-gee-coin" or "doggycoin". Someone helps him out. "Oh, dohj-coin!"#FTXhearing— Molly White (@molly0xFFF) December 13, 2022
― mark s, Tuesday, 13 December 2022 17:08 (one year ago) link
Perlmutter didn't run for the next congress, so these last few weeks of his tenure must feel a little like the last day of school
― Karl Malone, Tuesday, 13 December 2022 17:13 (one year ago) link
Shades of Ian Watkins here
Sam Bankman-Fried and other members of the inner circle of the collapsed crypto exchange FTX allegedly formed a chat group on the encrypted platform Signal under the name “Wirefraud”.
― Camaraderie at Arms Length, Tuesday, 13 December 2022 17:15 (one year ago) link
lmao they used QuickBooks for recordkeeping
― mh, Tuesday, 13 December 2022 17:41 (one year ago) link
Huizenga asks about possible US users of FTX.com.Ray says somewhere on the order of hundreds. He says that those customers having billions of dollars on FTX.com is probably an overly high estimate.#FTXhearing— Molly White (@molly0xFFF) December 13, 2022
all those ads for the US version and they had hundreds of users!!
― mh, Tuesday, 13 December 2022 17:43 (one year ago) link
oh wait, I'm misreading -- ftx.com was the "not for US citizens" version and ftx.us was the "just for you, US citizens!" version
― mh, Tuesday, 13 December 2022 17:44 (one year ago) link
― G. D’Arcy Cheesewright (silby), Tuesday, December 13, 2022 11:39 AM (fifty-two minutes ago) bookmarkflaglink
yeah and they havent even really decided how to classify various cryptos and whatnot
― lag∞n, Tuesday, 13 December 2022 18:15 (one year ago) link
is this it
The world's largest crypto exchange is blocking the ability to withdraw your funds after getting hit with almost $1 billion in withdrawals over 24 hours. https://t.co/YGzRhPC1cz— Max Burns (@themaxburns) December 13, 2022
― lag∞n, Tuesday, 13 December 2022 18:29 (one year ago) link
Cannot wait until every one of these cryptofucks are broke, in jail, or both.
― The Bankruptcy of the Planet of the Apes (PBKR), Tuesday, 13 December 2022 18:37 (one year ago) link
...should do time just for calling themesves "Binance"...
― m0stly clean (Slowsquatch), Tuesday, 13 December 2022 18:42 (one year ago) link
I keep thinking it’s a kink term like findom.
― Lord Pickles (Boring, Maryland), Tuesday, 13 December 2022 19:00 (one year ago) link
being a paypig seems far more rewarding than buying bitcoin
― G. D’Arcy Cheesewright (silby), Tuesday, 13 December 2022 19:04 (one year ago) link
in that I've been tempted to be a paypig but not to buy bitcoin
buttcoin
― the late great, Tuesday, 13 December 2022 21:49 (one year ago) link
blockwhips, blockchains
― J Edgar Noothgrush (Joan Crawford Loves Chachi), Tuesday, 13 December 2022 22:05 (one year ago) link
paycoin
― lag∞n, Tuesday, 13 December 2022 22:20 (one year ago) link
Paypal sounds pretty sexy too
― Lord Pickles (Boring, Maryland), Tuesday, 13 December 2022 22:39 (one year ago) link
paybuddy
― lag∞n, Tuesday, 13 December 2022 22:44 (one year ago) link
bitch better have my money
― ꙮ (map), Tuesday, 13 December 2022 22:45 (one year ago) link
some intrigue. all I know if paul le roux is that (great) atavist profile a few years ago
If you follow the endless “who is Satoshi Nakamoto” saga, you may have seen new claims of alleged proof that Paul Le Roux is Satoshi. Since I’m getting messages about it, some thoughts... (warning: very long, mute thread if it’s not your bag) 1/https://t.co/4amOnXu4zY— Evan Ratliff (@ev_rat) December 14, 2022
― k3vin k., Wednesday, 14 December 2022 22:37 (one year ago) link
there was a pretty convincing story about who he was a while ago but i cant remember now lol
― lag∞n, Wednesday, 14 December 2022 22:43 (one year ago) link
i always forget william gibson climaxes
― difficult listening hour, Thursday, 15 December 2022 15:02 (one year ago) link
Well, as long as you’re not the one fucking him it probably doesn’t matter
― Tsar Bombadil (James Morrison), Thursday, 15 December 2022 20:47 (one year ago) link
This is weird? The auditor for Binance (and a few other exchanges) appears to be getting out of the game in a hurry.https://www.ft.com/content/9bde8b35-aba8-4f95-a408-9a3789efd889
― Andrew Farrell, Friday, 16 December 2022 12:12 (one year ago) link
is this weird exactly?
― mark s, Friday, 16 December 2022 13:32 (one year ago) link
Auditing firm cuts ties with crypto clients, deletes Binance's "proof of reserves" report they issued days priorDecember 16, 2022https://t.co/glg35j378w pic.twitter.com/8iYzZqD3Jj— web3 is going just great (@web3isgreat) December 16, 2022
― mark s, Friday, 16 December 2022 16:54 (one year ago) link
― lag∞n, Friday, 16 December 2022 16:57 (one year ago) link
Mazars was also Trump Org’s auditing firm.
― The Bankruptcy of the Planet of the Apes (PBKR), Friday, 16 December 2022 18:05 (one year ago) link
🚨BINANCE_US RECEIVES $10 MILLION $USDT INFUSION FROM BINANCE MAIN WALLETS.THESE ARE NOT SEPARATE ENTITIES. FUNDS ARE COMMINGLED ACROSS ENTIRE BINANCE NETWORK!BINANCE_US IS A FRONT, JUST LIKE FTX_US. https://t.co/bIXgnLkFZX pic.twitter.com/PbxXc25bjf— DIRTY BUBBLE MEDIA: WHO AUDITS THE AUDITOR? (@MikeBurgersburg) December 17, 2022
― lag∞n, Saturday, 17 December 2022 16:49 (one year ago) link
who burgs the burgersburg
― more crankable (sic), Saturday, 17 December 2022 17:11 (one year ago) link
why has bitcoin not been crashing these past four months? what's keeping it up?
― Camaraderie at Arms Length, Saturday, 17 December 2022 17:20 (one year ago) link
The international crime ring keeping it afloat through wash trades?
― G. D’Arcy Cheesewright (silby), Saturday, 17 December 2022 17:22 (one year ago) link
Collusion
― “Cheeky cheeky!” she trills, nearly demolishing a roadside post (forksclovetofu), Saturday, 17 December 2022 17:27 (one year ago) link
I mean, I get that, but every day it seems there's a new reason that it should crash for good now, and yet... I mean are we just waiting for Tether to go?
― Camaraderie at Arms Length, Saturday, 17 December 2022 17:33 (one year ago) link
yeah i think so tho maybe binance going under could trigger it too, i mean the vast majority of crypto is held by a relative handful of people aka the conspirators and theyre going to continue to pump it until they lose their ability to do so or until i guess there just no point which is to say there are no more suckers walking in the door, so in some sense prob itll never end but i do think theres going to be a major crash and then itll just become much smaller for good
― lag∞n, Saturday, 17 December 2022 17:44 (one year ago) link
recent bloomberg article not sure if it was posted here detailing a leak of fed prosecutors discussing whether they should charge binance now or gather more evidence and charge them later, gotta think theyre all up in tethers shit too
― lag∞n, Saturday, 17 December 2022 17:47 (one year ago) link
Bitcoin doesn't have a single associated company to be brought down by, people buying bitcoin are generally just voting "it's worth this amount right, it makes sense that it's worth this amount?". It might not make sense, but as long as there's people who think it does, the price will stay up. It's the one that the SEC doesn't consider a security.
― Andrew Farrell, Sunday, 18 December 2022 02:58 (one year ago) link
theoretically true but not actually how it works
― lag∞n, Sunday, 18 December 2022 03:05 (one year ago) link
because of the fraud
― lag∞n, Sunday, 18 December 2022 03:17 (one year ago) link
I think you maybe need to reread that
― Andrew Farrell, Sunday, 18 December 2022 09:50 (one year ago) link
ok i did now what lol
― lag∞n, Sunday, 18 December 2022 13:16 (one year ago) link
oh sure in theory bitcoin and some others could be theoretically purchased from an exchange and dumped into a cold wallet you keep at home, making it portable between exchanges and whateverin practice, very few people do this and the exchange holds the actual blockchain-linked wallet(s) and they claim to hold some notional amount of crypto. don’t worry, the ability to pull your crypto out of an exchange (especially og bitcoin) is directly time-limited according to how many other people are currently attempting a transaction
― mh, Sunday, 18 December 2022 17:04 (one year ago) link
no URLs. no usernames without the URL. no bypassing restrictions on URLs (like writing example dot com). no posting images with usernames in them.free speech! pic.twitter.com/S3ZnwxkvSQ— Molly White (@molly0xFFF) December 18, 2022
― lag∞n, Sunday, 18 December 2022 18:19 (one year ago) link
sry wrong thread
― lag∞n, Sunday, 18 December 2022 18:30 (one year ago) link
#onethread
― G. D’Arcy Cheesewright (silby), Sunday, 18 December 2022 19:04 (one year ago) link
ah look at that
Global Drug Conspiracy Used Binance To Launder Millions In Crypto, DEA Investigation Finds.Good job Binance. 😂 https://t.co/iNSd6fekQl— Bitfinex’ed 🔥🐧 Κασσάνδρα 🏺 (@Bitfinexed) December 20, 2022
― lag∞n, Tuesday, 20 December 2022 18:23 (one year ago) link
“This is actually an example of where the transparency of blockchain transactions works against criminal actors,” Price told Forbes. “The bad guys are leaving a permanent record of what they're doing.
i mean it prob wouldve worked if they didnt buy the bitcoins from a fed in the first place
― lag∞n, Tuesday, 20 December 2022 18:27 (one year ago) link
Only programmers would decide to use the internet to arrange their illegal transactions instead of a network of scary guys keeping ledgers in a shoebox
― G. D’Arcy Cheesewright (silby), Tuesday, 20 December 2022 18:40 (one year ago) link
there was a super long and interesting New Yorker article a year or two back abt the feds using blockchain analysis to bust people, not gonna go into details but bad people
― sleeve, Tuesday, 20 December 2022 18:41 (one year ago) link
yeah its a good way to extract money from cyber crimes but besides that better to do it the old fashioned way
― lag∞n, Tuesday, 20 December 2022 18:42 (one year ago) link
🚨 BREAKING: The SEC has officially charged Caroline Ellison & Gary Wang with defrauding FTX investors. https://t.co/r1dLYLuxRw— Tiffany Fong (@TiffanyFong_) December 22, 2022
🚨 BREAKING: Caroline Ellison & Gary Wang have plead guilty to fraud & are cooperating with prosecutors.— Tiffany Fong (@TiffanyFong_) December 22, 2022
― lag∞n, Thursday, 22 December 2022 02:29 (one year ago) link
hope some vcs go down with this
― lag∞n, Thursday, 22 December 2022 02:31 (one year ago) link
welp that's why Caroline and Gary were so quiet
Statement of U.S. Attorney Damian Williams on U.S. v. Samuel Bankman-Fried, Caroline Ellison, and Gary Wang pic.twitter.com/u1y4cs3Koz— US Attorney SDNY (@SDNYnews) December 22, 2022
― ( X '____' )/ (zappi), Thursday, 22 December 2022 02:39 (one year ago) link
credit where credit’s due, thank you feds and bahamas
― mh, Thursday, 22 December 2022 02:55 (one year ago) link
that plea deal must have been sweet to roll over so quickly, or people really hate paying lawyers
― mh, Thursday, 22 December 2022 02:57 (one year ago) link
― 龜, Thursday, 22 December 2022 03:02 (one year ago) link
DOJ and SEC often don’t file charging docs until they already have the plea.
― longtime caller, first time listener (man alive), Thursday, 22 December 2022 14:57 (one year ago) link
the vcs are how the sec has jurisdiction here, unfortunately― 龜, Wednesday, December 21, 2022 10:02 PM (yesterday) bookmarkflaglink
they can still be guilty of crimes right
― lag∞n, Thursday, 22 December 2022 15:40 (one year ago) link
i mean, yeah, but what would you charge them with?
― 龜, Thursday, 22 December 2022 15:55 (one year ago) link
pumping n dumping shitcoins
but just generally there seems to be a ton of collusion between the various crypto whales were some of them vcs do any of the cooperators know anything about that, and even outside of ftx seems like industry wide were going to have a lot of telling happening soon, its probably happening now tbf
― lag∞n, Thursday, 22 December 2022 16:04 (one year ago) link
my intuition is that your general traditional VC type firms like a16z or sequioa did not run crypto prop trading desks, but who knows
― 龜, Thursday, 22 December 2022 16:24 (one year ago) link
nor would you need to to be involved in a conspiracy
― lag∞n, Thursday, 22 December 2022 16:28 (one year ago) link
as weve seen absolutely all of the big crypto players who face any scrutiny end up being dirty, and most of the big money flowing into crypto during this last boom was from vcs, im sure they would like you to believe that theyre just innocent investors, but that of course is not at all how they operate, theyre all up in the business, andreessen horowitz for instance has been intimately involved in building a bunch of these difi etc companies promoting their weird coins which they get at a discount and so forth, theyre totally in it
― lag∞n, Thursday, 22 December 2022 16:34 (one year ago) link
i know a16z had a big crypto fund (down 40%), but didn't know they were also promoting coins?
― 龜, Thursday, 22 December 2022 16:37 (one year ago) link
they invest in companies that produce coins and then they talk about the coins, im not going to write that abbreviation i hate it so much andyhorys whole schtick throughout the late stage of the crypto boom was to have companies theyve invested in whether they were originally crypto or not produce a coin of which they get a bunch at a nice presale price, they were printing money off this shit its much easier to make a coin than an actual good company, the whole thing looks extremely pump n dumpy, idk of course whether it meets the legal definition, but so far everything thats come to light ends up being actually way more criminal than it even looks
― lag∞n, Thursday, 22 December 2022 16:44 (one year ago) link
yeah man, i hear you a lot of shady shit went down, i just dunno if your big traditional VC types were actually pumping and dumping coins
― 龜, Thursday, 22 December 2022 16:52 (one year ago) link
it does look exactly like they were
― lag∞n, Thursday, 22 December 2022 16:54 (one year ago) link
guess well find out soon enough tho
― lag∞n, Thursday, 22 December 2022 16:55 (one year ago) link
https://archive.ph/NgRtb
looks like there already are (private) lawsuits alleging this
― 龜, Thursday, 22 December 2022 17:04 (one year ago) link
pumpy dumpy
― G. D’Arcy Cheesewright (silby), Thursday, 22 December 2022 17:06 (one year ago) link
yeah theres no doubt that these companies that they built allowed rampant fraud and they knew about it and profited from it, which is bad enough on its own, but then the further question would be if they also did the fraud themselves, seems like it would be pretty temping to have some coins and a pump n dump machine at your fingertips, and also the entire industry is built on pumping and dumping
― lag∞n, Thursday, 22 December 2022 17:09 (one year ago) link
or they couldve also outsourced it to some coconspirator just by sending a text or whatever
― lag∞n, Thursday, 22 December 2022 17:10 (one year ago) link
ftx executives are flipping on bankman f so then who does he flip on whos upstream from him, tether is the obvious one, but also maybe vcs, other crypto whales idk
― lag∞n, Thursday, 22 December 2022 17:13 (one year ago) link
pic.twitter.com/UWpoXhJzvl— Sean Morrow (@snmrrw) December 22, 2022
― lag∞n, Thursday, 22 December 2022 23:57 (one year ago) link
Marc andreessen going to jail bc of crypto would be pretty sweet, though that seems pretty unlikely
― circles, Friday, 23 December 2022 02:47 (one year ago) link
https://i.ebayimg.com/images/g/YB0AAOSwaadiZVo0/s-l500.jpg
― mh, Friday, 23 December 2022 02:50 (one year ago) link
― lag∞n, Thursday, 22 December 2022 17:13 (yesterday) link
I'm skeptical they would cut SBF a break to get to some VC or whale. SBF is already a cartoon villain now, they need to take him down hardcore, dope on the table.
― longtime caller, first time listener (man alive), Friday, 23 December 2022 03:54 (one year ago) link
I mean to be clear, he deserves it. But I would be shocked if they give him a deal to some more powerful and less publicly known person.
― longtime caller, first time listener (man alive), Friday, 23 December 2022 03:55 (one year ago) link
its not like they have to let him off more of a tell us what you know as part of your guilty plea and well tell the judge you were forthcoming then maybe he doesnt get the max
― lag∞n, Friday, 23 December 2022 19:16 (one year ago) link
i suspect itll all come out regardless, everyone involved is just so flagrantly doing crimes
― lag∞n, Friday, 23 December 2022 19:17 (one year ago) link
i mean he might just tell them if they ask
― lag∞n, Friday, 23 December 2022 19:19 (one year ago) link
https://www.nbcnews.com/tech/crypto/north-dimension-ftx-bankman-fried-rcna63175
― 龜, Tuesday, 27 December 2022 20:13 (one year ago) link
crypto put a nice twist on wash trading instead of doing it to dump which requires someone to actually buy you can just borrow against your pumped token and use the money to buy other stuff
"By being on both sides of the transaction, Eisenberg artificially inflated the price of MNGO relative to USDC, allowing him to borrow and then withdraw $110 million of different cryptocurrencies..." https://t.co/IzigqgZ8Dw— Matt Novak (@paleofuture) December 28, 2022
― lag∞n, Wednesday, 28 December 2022 00:46 (one year ago) link
I kinda feel like if you loan someone millions of dollars with their cryptocurrency as collateral, you deserve to get ripped off
― Piven After Midnight (The Yellow Kid), Wednesday, 28 December 2022 00:53 (one year ago) link
I suspect the Fed would agree
― G. D’Arcy Cheesewright (silby), Wednesday, 28 December 2022 01:09 (one year ago) link
I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.— Avraham Eisenberg (@avi_eisen) October 15, 2022
― lag∞n, Wednesday, 28 December 2022 01:49 (one year ago) link
criminal mastermind pic.twitter.com/O2QBBu84l1— web3 is going just great (@web3isgreat) December 28, 2022
― lag∞n, Wednesday, 28 December 2022 01:53 (one year ago) link
I feel like these dudes might actually believe their own bullshit?
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Wednesday, 28 December 2022 02:21 (one year ago) link
they really do lol
― lag∞n, Wednesday, 28 December 2022 02:24 (one year ago) link
def some industry wide feeling that it was a crimes are legal zone, but really the feds were just slow to get to work
― lag∞n, Wednesday, 28 December 2022 02:26 (one year ago) link
*fake Matt Levine voice* If someone exploited a vulnerability in the Charles Schwab website to execute a nine figure trade with other people’s money and then tweeted that they believed their actions were using the protocol as designed, the FBI might be busy laughing for the few crucial minutes necessary for you to board your flight for Venezuela.
― G. D’Arcy Cheesewright (silby), Wednesday, 28 December 2022 02:30 (one year ago) link
― lag∞n, Wednesday, 28 December 2022 02:32 (one year ago) link
JUST IN: SBF to enter plea deal in FTX fraud case, Reuters reports.— Watcher.Guru (@WatcherGuru) December 28, 2022
― lag∞n, Wednesday, 28 December 2022 18:54 (one year ago) link
Looks like it's a plea, not a deal.
― Unfairport Convention (PBKR), Wednesday, 28 December 2022 19:51 (one year ago) link
SBF pleads for just one more chance to make it right, baby
― Karl Malone, Wednesday, 28 December 2022 19:57 (one year ago) link
When you are CEO and face of the org, and your #2 and #3 (I guess) have already flipped, I'm not sure who he could even flip on at this point.
― Unfairport Convention (PBKR), Wednesday, 28 December 2022 20:10 (one year ago) link
if only they had designed bitcoins to be flipped
― “Cheeky cheeky!” she trills, nearly demolishing a roadside post (forksclovetofu), Wednesday, 28 December 2022 20:19 (one year ago) link
he can name all the VCs in the "let's go crazy doing the financial crimes we describe in detail in the chat group" chat group
― mark s, Wednesday, 28 December 2022 20:37 (one year ago) link
I'm not sure who he could even flip on at this point.
matt yglesias
― mookieproof, Wednesday, 28 December 2022 20:43 (one year ago) link
― mark s, Wednesday, December 28, 2022 3:37 PM (twenty-four minutes ago) bookmarkflaglink
I must have missed this chat group where the VCs admitted to doing financial crimes, but I am extremely skeptical VC-types have anything to worry about.
― Unfairport Convention (PBKR), Wednesday, 28 December 2022 21:05 (one year ago) link
he defiantly did crimes with the tether org, are his prosecutors interested in tethers crimes, idk probably tether is bigger than ftx and is at the root of a lot of crypto mischief, im sure theyd listen if he had things to say about vcs and various other crypto characters but tether is the one
― lag∞n, Wednesday, 28 December 2022 21:15 (one year ago) link
could be the other ftx execs who flipped already gave up all that info tho
― lag∞n, Wednesday, 28 December 2022 21:18 (one year ago) link
the straw donations thing should probably be run down but won’t
― mh, Wednesday, 28 December 2022 23:11 (one year ago) link
The vc thing seems like a kill one person (murder) v. kill a million ppl (king) thing. I'm pretty sure the buck is going to stop at SBF.
― Unfairport Convention (PBKR), Thursday, 29 December 2022 03:22 (one year ago) link
you missed the group chat in question bcz i made it up to make a funny joek abt the dumbness of all this, i have no idea who SBF is going to flip on, maybe it's senators or paris hilton
― mark s, Thursday, 29 December 2022 11:49 (one year ago) link
fed look interested in taking down Binance, maybe he's got something on them for a lighter sentence
― ( X '____' )/ (zappi), Thursday, 29 December 2022 11:53 (one year ago) link
i still don't understand any of this but i notice a wild winklevoss
340,000 Gemini Earn customers are missing over $900 million.Cameron Winklevoss of Gemini called out Barry Silbert for not returning the funds.Here’s what we know 🧵— Genevieve Roch-Decter, CFA (@GRDecter) January 3, 2023
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Tuesday, 3 January 2023 22:45 (one year ago) link
the really confusing thing about this is that gemini and genesis are too similar words
To explain what happened here: Gemini offered Gemini Earn, a magical thing that gave you up to 7.4% returns - unrealistic returns - and did so by lending the $900m in Gemini Earn to Genesis/DCG, who have now lost that money. The money is gone! Woosh! https://t.co/u7DzjFWTta— Ed Zitron (@edzitron) January 2, 2023
― lag∞n, Tuesday, 3 January 2023 22:56 (one year ago) link
As far as I can tell, just reading about it now, it's actually a pretty simple and old story -- Company A: "Lend us your money and we will pay you more in interest than it makes any sense to pay on it." Company A then takes that money and lends it to Company B, who offers even higher doesn't-make-sense interest on it. Company B then uses the money to engage in dumb high risk trades that have a small chance of a huge payout. Those trades go bad. Company B to Company A: "Oops, I don't have the money to pay you back." Company A to its investors: "Company B didn't pay us back, so now we can't pay you back." Did I miss anything?
― longtime caller, first time listener (man alive), Wednesday, 4 January 2023 02:40 (one year ago) link
It's just a variation on a ponzi scheme -- put money in magic box and we promise we make even more money come out
one thing is that company a wasnt totally clear that they were asking for people to loan rather than deposit money, good account here https://ez.substack.com/p/i-lost-900-million-dollars-but-its
― lag∞n, Wednesday, 4 January 2023 02:43 (one year ago) link
and fwiw im sure the scheme worked wonderfully while crypto was booming
going up a hill by boat works great when the water's rising
― longtime caller, first time listener (man alive), Wednesday, 4 January 2023 03:03 (one year ago) link
it also works if you just really want to do it (fitzcarraldo, herzog, 1982)
― lag∞n, Wednesday, 4 January 2023 03:06 (one year ago) link
― longtime caller, first time listener (man alive), Wednesday, 4 January 2023 03:09 (one year ago) link
seems like all the big crypto players just panic every time someone expects liquid assets and get one of their peers to give them money, and in return they might give the other company some tokens or magic beans that are, as all cryptocurrency, going to always go up in value
you see it's not a ponzi scheme because I traded my very valuable magic beans for real money to pay people trying to cash out and magic beans are an infinite resource
― mh, Wednesday, 4 January 2023 16:28 (one year ago) link
prob impossible but it would be interesting to figure out how much real money went into the system and where it ended up
― lag∞n, Wednesday, 4 January 2023 16:55 (one year ago) link
what if all money is made up
― mark s, Wednesday, 4 January 2023 16:57 (one year ago) link
its all made up to some degree but some is more made up than others, crypto was trying to grow to the point that it by virtue of its size became more real, but it never really got close, particularly considering a lot of its growth was fake too
― lag∞n, Wednesday, 4 January 2023 17:00 (one year ago) link
that's not what this 14-year-old turd told me online. and he seemed extremely confident
― Karl Malone, Wednesday, 4 January 2023 17:03 (one year ago) link
Real money? You mean the made upFIAT currency crying laughing emoji, drools into lap
― Lord Pickles (Boring, Maryland), Wednesday, 4 January 2023 17:03 (one year ago) link
the next stage is to arbitrage the made-upness differential, enjoy being real ilxors
― mark s, Wednesday, 4 January 2023 17:04 (one year ago) link
hey its the company that advertises during sports that its the above the board fully audited usa based exchange
Coinbase fined $100M over KYC and AML failures https://t.co/JI5peeKy63— Protos (@Protos) January 4, 2023
― lag∞n, Wednesday, 4 January 2023 18:21 (one year ago) link
hah that's just a state investigation, that's not even the feds
― 龜, Wednesday, 4 January 2023 18:24 (one year ago) link
2023 and you can't find a slurp juice anywhere
― mh, Wednesday, 4 January 2023 18:45 (one year ago) link
Can’t get over the fact that Logan Paul subscribed to my Patreon, advertised it on his main channel, said he admired my “work ethic” & “creativity”, and then said he’s suing me. https://t.co/eYB57EIHgQ pic.twitter.com/8guq428rtM— Coffeezilla (@coffeebreak_YT) January 4, 2023
― lag∞n, Wednesday, 4 January 2023 22:28 (one year ago) link
fyi that guy is a crypto muckraking youtuber who just did a video on logan pauls many nft crimes
― lag∞n, Wednesday, 4 January 2023 22:35 (one year ago) link
he has this extreme cringe scifi noir schtick but he does do a good job digging stuff up, its actual journalism happening on youtube now that i think about it, waht a world
― lag∞n, Wednesday, 4 January 2023 22:37 (one year ago) link
“One second of research would prove that to be false,” Paul hit back. “You can definitely hatch eggs and even breed your animals.”
― Tracer Hand, Wednesday, 4 January 2023 22:57 (one year ago) link
lmao just the dumbest shit ever
― lag∞n, Wednesday, 4 January 2023 22:59 (one year ago) link
Want a MasterShake read of that line
― Lord Pickles (Boring, Maryland), Thursday, 5 January 2023 01:13 (one year ago) link
is this a slurp juice thing
― mh, Thursday, 5 January 2023 02:48 (one year ago) link
its slurp juice adjacent
― lag∞n, Thursday, 5 January 2023 03:13 (one year ago) link
it’s also extremely On Cinema
― Tracer Hand, Thursday, 5 January 2023 07:49 (one year ago) link
this is one of my favorite songs
https://cointelegraph.com/news/bitcoin-core-developer-claims-to-have-lost-200-btc-in-hack/
bonus, he's a mel gibson-y "fuck this newfangled catholicism" catholic *and* a monarchist
― doctor w00t (cat), Thursday, 5 January 2023 17:45 (one year ago) link
and oh wow what's this, there was a bitcoin fundraiser for him just 5 yrs ago, after his house got dinged by hurricane irma. maybe the bitcoin-munity will pull together once again and funnel more fake dumb money to this choad.
― doctor w00t (cat), Thursday, 5 January 2023 17:48 (one year ago) link
More generally, the sentiment is that a bunch of crypto VCs are in a really bad spot regarding insider trading, something I've called out here on many occasionsIt doesn't matter if they were/are securities, you can't insider trade— Leigh Drogen (@LDrogen) January 5, 2023
― lag∞n, Friday, 6 January 2023 00:22 (one year ago) link
what if you're in congress when you do it
― mookieproof, Friday, 6 January 2023 00:41 (one year ago) link
then its ok
― lag∞n, Friday, 6 January 2023 01:13 (one year ago) link
It doesn't matter if they were/are securities, you can't insider trade— Leigh Drogen (@LDrogen) January 5, 2023
What is the basis of that statement?
― longtime caller, first time listener (man alive), Friday, 6 January 2023 01:13 (one year ago) link
I mean I will feel a bit uninformed if/when someone points it out to me, but I'm pretty sure that "insider trading" isn't just, like, a common law crime. You have to have some specific regulatory scheme involved. And if it's not a security, then what is the basis of "you can't insider trade"?
― longtime caller, first time listener (man alive), Friday, 6 January 2023 01:14 (one year ago) link
insider trading is pretty much based on caselaw, there is no statutory basis iirc https://en.wikipedia.org/wiki/Insider_trading#Court_decisions
― 龜, Friday, 6 January 2023 01:18 (one year ago) link
yeah heres a matt levine column examining the issue https://www.bloomberg.com/opinion/articles/2022-06-02/don-t-insider-trade-nfts
iirc he basically says insider trading is a type of securities fraud and its really the fraud that matters, so if youre not insider trading securities its just some other type of fraud
― lag∞n, Friday, 6 January 2023 01:21 (one year ago) link
Paywalled. Insider trading in securities is all under 10b-5 and 20A. I've never heard it suggested that you could insider trade, like, beanie babies or real estate, for example.
― longtime caller, first time listener (man alive), Friday, 6 January 2023 02:26 (one year ago) link
heres an archived one https://archive.ph/eFNP9, great service btw just put the url of the paywalled article in and its prob already there, the article is about a guy getting charged for insider trading nfts
― lag∞n, Friday, 6 January 2023 02:30 (one year ago) link
which def arent securities
Paywalled. Insider trading in securities is all under 10b-5 and 20A. I've never heard it suggested that you could insider trade, like, beanie babies or real estate, for example.― longtime caller, first time listener (man alive), Thursday, January 5, 2023 9:26 PM (four minutes ago)
― longtime caller, first time listener (man alive), Thursday, January 5, 2023 9:26 PM (four minutes ago)
as you know, 10b-5 doesn't define what insider trading is. and obviously, there is nothing statutory that says how to define crypto.
i'm not an expert here but it seems to me a lot of the crypto cases the SEC is bringing is trying to establish caselaw that says yes, crypto is securities - and once you get that hook you can then try to use 10b-5 (if you're the SEC). 20A appears to be private right of action only?
― 龜, Friday, 6 January 2023 02:36 (one year ago) link
that insider trading NFT case isn't a 10b-5 case, they're charging the guy with wire fraud. levine's point is though that the 'fraud' in question here looks just like insider trading, which is based on a theory of fraud via caselaw under 10b-5, 20A, etc.
― 龜, Friday, 6 January 2023 02:40 (one year ago) link
seems like the reason insider trading is associated with securities is because its just a good fit as far as a fraud to do theres tons of opportunity for it, as levine points out the nft case is pretty weird a byproduct of that market just being bizarre, like straight crypto coins eg bitcoin is prob not a security because its not a group investment and then if you think about the insider trading opportunities theyre just not there they way they are for stocks, like maybe if you worked for a mining company you might have some inside info to trade on i guess, but then some of the web3 stuff and crypto derivative things are obvs securities
― lag∞n, Friday, 6 January 2023 02:52 (one year ago) link
i think you meant to say 'crypto' instead of 'securities' in the first instance
― 龜, Friday, 6 January 2023 03:01 (one year ago) link
idk with crypto it seems like its often other types of fraud, a lot market manipulation stuff
― lag∞n, Friday, 6 January 2023 03:04 (one year ago) link
you said 'insider trading is associated with securities' which is, uh, true... i think you meant to say 'crypto' instead
― 龜, Friday, 6 January 2023 03:08 (one year ago) link
no thats what i meant to say
― lag∞n, Friday, 6 January 2023 03:12 (one year ago) link
Rule 10b5-1 does define what insider trading is, fwiwhttps://www.law.cornell.edu/cfr/text/17/240.10b5-1
― longtime caller, first time listener (man alive), Friday, 6 January 2023 03:12 (one year ago) link
insider trading is a good crime to do with securities, its a market where theres lots of actionable inside info
― lag∞n, Friday, 6 January 2023 03:13 (one year ago) link
IDK if the SEC is now trying to define crypto as a security, my memory (although I didn't follow this that closely) was that both the SEC and CFTC kept dicking around on whether or not crypto is a security, commodity, or neither, and never resolved it, although I think there are specific cases of token type offerings or crypto-related products being found to be securities.
I don't think crytpo itself (bitcoin, eth, etc.) is really a good fit for "securities" fwiw.
― longtime caller, first time listener (man alive), Friday, 6 January 2023 03:14 (one year ago) link
yeah thats what i think, but like a DAO is obvs just a company and its coins are effectively stock, obvious security
― lag∞n, Friday, 6 January 2023 03:16 (one year ago) link
― 龜, Friday, 6 January 2023 03:16 (one year ago) link
Rule 10b5-1 does define what insider trading is, fwiwhttps://www.law.cornell.edu/cfr/text/17/240.10b5-1🕸
― 龜, Friday, 6 January 2023 03:19 (one year ago) link
I’ve got some material nonpublic information about my ass I can sell you if you act now
― G. D’Arcy Cheesewright (silby), Friday, 6 January 2023 03:19 (one year ago) link
wait what are the non-securities contexts where insider trading applies?― 龜, Thursday, January 5, 2023 10:16 PM (twenty-one seconds ago) bookmarkflaglink
i think theres been commodity market insider cases, and of course the famous nft case from the article, but what i was tryin to say is insider trading is almost exclusively prosecuted re securities not because theyre regulated in some special way but rather because insider trading happens with securities a lot
― lag∞n, Friday, 6 January 2023 03:23 (one year ago) link
because the opportunity exists a lot, you could say insider trading is a fundamental truth about the structure of the securities market
― lag∞n, Friday, 6 January 2023 03:25 (one year ago) link
CFTC also has a specific regulation on insider trading though.
― longtime caller, first time listener (man alive), Friday, 6 January 2023 03:26 (one year ago) link
insider trading is exclusively prosecuted re: securities because it is a crime that was created re: securities lol
― 龜, Friday, 6 January 2023 03:26 (one year ago) link
theres an underlying opportunity for fraud that was criminalized
― lag∞n, Friday, 6 January 2023 03:28 (one year ago) link
― longtime caller, first time listener (man alive), Thursday, January 5, 2023 10:26 PM (two minutes ago) bookmarkflaglink
yeah because people are always doing it because its a nice crime
― lag∞n, Friday, 6 January 2023 03:29 (one year ago) link
insider trading is pretty much based on caselaw, there is no statutory basis iirc https://en.wikipedia.org/wiki/Insider_trading#Court_decisions― 龜, Thursday, January 5, 2023 7:18 PM (two hours ago)
― 龜, Thursday, January 5, 2023 7:18 PM (two hours ago)
Insider Trading Sanctions Act of 1984 - Amends the Securities Exchange Act of 1934 to permit the Securities and Exchange Commission, whenever it appears that any person has traded in securities while in possession of material nonpublic information, to seek an order in a district court action requiring the violator, or anyone who aided and abetted the violation, to pay a civil penalty of up to three times the profit gained or loss avoided as a result of the unlawful transaction.
https://www.congress.gov/bill/98th-congress/house-bill/559
― bulb after bulb, Friday, 6 January 2023 03:38 (one year ago) link
…and?
― 龜, Friday, 6 January 2023 03:43 (one year ago) link
many lawyers itt, but only one true philosopher of the law (me)
― lag∞n, Friday, 6 January 2023 03:45 (one year ago) link
sorry, just wanted a clarification on what you mean that there is not statutory basis? Isn't that statue specifically directed towards insider trading?
― bulb after bulb, Friday, 6 January 2023 03:45 (one year ago) link
that is a statue that specifies what kind of penalties can be recovered from insider trading crime-doers. it doesn’t actually create a crime of insider trading that prosecutors can bring charges under
― 龜, Friday, 6 January 2023 03:49 (one year ago) link
so where do the criminal penalties the Insider Trading Sanctions Act provides arise from, if there is no crime to be charged?
― bulb after bulb, Friday, 6 January 2023 03:51 (one year ago) link
you mean civil penalties, and they arise from insider trading cases brought under rule 10b-5, which is not a statute passed into law by congress but is a rule created by the securities and exchange commission pursuant to authority granted to it by congress under the securities exchange act of 1934
― 龜, Friday, 6 January 2023 03:53 (one year ago) link
so insider trading is only "statutory" for civil penalties and not criminal? how are criminal cases charged then?
― bulb after bulb, Friday, 6 January 2023 04:32 (one year ago) link
Securities fraud is statutory under Section 10(b) of the securities exchange act of 1934 (a statute and is passed by congress). Insider trading is not mentioned in Section 10(b) but came about later in SEC Rule 10b-5, which defined that insider trading is a form of securities fraud. SEC Rule 10b-5 is a regulation promulgated by an agency (SEC) under authority granted by the statute, not directly passed by congress, so it is regulatory, not statutory. Interesting from Wiki:
In 1942, SEC lawyers in the Boston Regional Office learned that a company president was issuing pessimistic statements about company earnings while simultaneously purchasing the company's stock. Although the Securities Act of 1933 prohibited fraudulent sales of securities, no regulation existed at that time which would have precluded fraudulent purchases. Rule 10b-5, issued by the SEC under section 10(b) of the Exchange Act, was implemented to fill this regulatory void. The commissioners approved the rule without debate or comment, with the exception of Commissioner Sumner Pike who indicated approval of the rule by asking, "Well, we are against fraud, aren't we?"
Well, as my White Collar Crime professor drilled into us, the most common federal crime is violating 18 USC 1001, which criminalizes lying to government agents. So if you insider trade and the FBI stops by and asks if you insider traded and you say anything materially false, like, "I got the information from my dog," they got you.
My favorite insider trading case is US v. Switzer, involving former U of OK and Dallas Cowboys Coach Barry Switzer:
41. Sometime in the afternoon, after his last conversation with G. Platt, Switzer laid down on a row of bleachers behind the Platts to sunbathe while waiting for his son's next event. While Switzer was sunbathing, he overheard G. Platt talking to his wife about his trip to New York the prior day. In that conversation, G. Platt mentioned Morgan Stanley and his desire to dispose of or liquidate Phoenix. G. Platt further talked about several companies bidding on Phoenix. Switzer also overheard that an announcement of a "possible" liquidation of Phoenix might occur the following Thursday. Switzer remained on the bleachers behind the Platts for approximately twenty minutes then got up and continued to move about.
― Unfairport Convention (PBKR), Friday, 6 January 2023 12:31 (one year ago) link
10b-5 didn't establish insider trading is a form of fraud, it just said it's unlawful to "employ any device, scheme or artifice to defraud" and other prohibitions around fraud.
§ 240.10b-5 Employment of manipulative and deceptive devices.It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange,(a) To employ any device, scheme, or artifice to defraud,(b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or(c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person,in connection with the purchase or sale of any security.
(a) To employ any device, scheme, or artifice to defraud,
(b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading, or
(c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person,
in connection with the purchase or sale of any security.
the actual law of insider trading involving tippees, misappropriation of information, all the stuff you read about in the cases, comes about from what the courts have read into 10b-5.
haha that switzer anecdote - michael mann movie about insider trading.
― 龜, Friday, 6 January 2023 12:53 (one year ago) link
so insider trading is only "statutory" for civil penalties and not criminal? how are criminal cases charged then?― bulb after bulb, Thursday, January 5, 2023 11:32 PM (yesterday)
― bulb after bulb, Thursday, January 5, 2023 11:32 PM (yesterday)
i'm getting ahead of my skis but there is a provision in the exchange act that allows for criminal penalties, but the insider trading still has to fit under the 10b-5 caselaw. this law journal article that is very riveting and interesting (as all law journal articles are) gives a good overview, even though it's old: https://scholarlycommons.law.northwestern.edu/cgi/viewcontent.cgi?article=6290&context=jclc
― 龜, Friday, 6 January 2023 12:57 (one year ago) link
anyway, the point is that federal law prohibits fraud but doesn't say anything about the act of 'insider trading'. instead, prosecutors have said various fact patterns that we now recognize as looking like insider trading is a form of fraud, and the caselaw has developed organically from there.
you'll notice the NFT insider trading case up there was not brought under 10b-5 or any statutes involving securities, it's a wire-fraud case where they're saying the fraud looks just like the fact patterns we associate with insider trading cases, and the defense would be hey hold up, NFTs are not securities so why does it even matter if it looks like insider trading, which is about fraudulently trading securities.
so the problem with trying to prosecute these crypto cases is what law are they violating, because there isn't anything on the books yet regarding crypto. the SEC has an interest in making crypto look like securities because there's a whole well-known body of law there, and i think there's a good argument that a lot of crypto out there with voting rights etc. does look like a security, but then there's a lot of weird in-between and edge cases. and of course the law moves very slowly, and we all feel that a lot of fraud and insider trading type stuff was going on during the crypto bubble, but trying to fit that into the law we have is going to take a lot of time and a lot of cases brought and tried to see what sticks under our current regime.
― 龜, Friday, 6 January 2023 13:15 (one year ago) link
― 龜, Friday, 6 January 2023 03:26 (ten hours ago) link
That’s true, but Rule 10b5-1, which codifies what insider trading is in a securities context, has been on the books for over 20 years (I think
Now I’m curious to look up attempts to impose criminal or civil liability for insider trading outside the securities context. Fun Friday.
― longtime caller, first time listener (man alive), Friday, 6 January 2023 13:52 (one year ago) link
Little known fact: lawyers get “free choice time” on Fridays where they get to research a topic of their choice
― longtime caller, first time listener (man alive), Friday, 6 January 2023 13:53 (one year ago) link
xp thank you 龜! will give that Northwestern article look. and need to read more on the last point re: are cryptos a security. as with everything crypto, it's a bit elusive for me.
― bulb after bulb, Friday, 6 January 2023 13:59 (one year ago) link
now I'm no fancy big city lawyer your honor, I'm just a simple farmer. But I can tell you one thing - if it smells like shit, you're probably steppin in it.
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Friday, 6 January 2023 14:41 (one year ago) link
xp It makes intuitive sense to me that something like bitcoin isn't a security.
The Howey test defines a security as "an investment of money in a common enterprise with profits to come solely from the efforts of others; and, if that test be satisfied, it is immaterial whether the enterprise is speculative or nonspeculative, or whether there is a sale of property with or without intrinsic value”.
A coin like bitcoin or doesn't have profits and it isn't a common enterprise. However I think there are specific situations where they found a coin or token to be a security because the way it was designed it was basically just an investment vehicle labeled as a crypto coin/token.
It's weird though. Like a piece of property isn't a security, but you could divide up the ownership interest in a piece of property ten ways and the ownership interests are securities. So you could probably do the same with a fund that just owns a bunch of bitcoin and the interests could be securities. Like you own one bitcoin - the bitcoin isn't a security. You own 1/10 of a fund that owns 10 bitocins - your 1/10 of 10 bitcoins is a security.
― longtime caller, first time listener (man alive), Friday, 6 January 2023 14:49 (one year ago) link
I guess the idea is that with the 10 bitcoin fund, you now have an ownership interest in an enterprise and hypothetically need the protection of regulations that make sure the enterprise or its owners aren't defrauding you. Whereas bitcoin itself can't defraud you.
― longtime caller, first time listener (man alive), Friday, 6 January 2023 14:50 (one year ago) link
It's weird though. Like a piece of property isn't a security, but you could divide up the ownership interest in a piece of property ten ways and the ownership interests are securities.
― longtime caller, first time listener (man alive), Friday, January 6, 2023 9:49 AM (four hours ago) bookmarkflaglink
they even call it securitizing
― lag∞n, Friday, 6 January 2023 18:53 (one year ago) link
yep, and securities of an ownership interest in a piece of real property is a REIT (a popular investing vehicle whose securities are traded on many securities exchanges)
― 龜, Friday, 6 January 2023 19:54 (one year ago) link
That’s true, but Rule 10b5-1, which codifies what insider trading is in a securities context, has been on the books for over 20 years (I thinkNow I’m curious to look up attempts to impose criminal or civil liability for insider trading outside the securities context. Fun Friday.― longtime caller, first time listener (man alive), Friday, January 6, 2023 8:52 AM (six hours ago)
― longtime caller, first time listener (man alive), Friday, January 6, 2023 8:52 AM (six hours ago)
yeah but how many insider trading cases are brought exclusively under 10b5-1 ? this memo a few years after adoption suggests not many: https://www.akingump.com/a/web/1044/aogHi/683.pdf
as far as i can tell, 10b5-1 is just used for c-suite folks to design trading plans that let them sell stock into the market because 10b5-1 outlines the affirmative defenses you can have for doing so, and when they get pinched it's for not adhering to those plans: https://corpgov.law.harvard.edu/2022/10/10/sec-charges-executives-with-insider-trading-10b5-1-plan-provided-no-defense/
if you look at the language of 10b5-1 too, it's nonexclusive - it says insider trading "includes, among other things, blah blah blah..." the SEC knows better than to pigeonhole itself into a narrower definition.
― 龜, Friday, 6 January 2023 20:10 (one year ago) link
https://fakemoneynews.substack.com/p/shorting-tether-for-fun-and-profit
― 𝔠𝔞𝔢𝔨 (caek), Sunday, 8 January 2023 16:07 (one year ago) link
think it goes a lil deeper than counter party and protocol risk described in that piece, call it ecosystem risk once tether depegs the entire crypto economy crashes eg the usdc their using for their trade will depeg too, shorts prob wouldve taken it all down by now otherwise which is an interesting situation
― lag∞n, Sunday, 8 January 2023 16:18 (one year ago) link
This entire thread is quoted in a new CFTC civil complaint against himhttps://t.co/oYSmbu4Ik0 https://t.co/dfXNxAn8CF pic.twitter.com/68LJrfs90x— Jacob Silverman (@SilvermanJacob) January 9, 2023
police love social media
― lag∞n, Monday, 9 January 2023 18:32 (one year ago) link
thats civil but he was also arrested
👇Arrested in Puerto Rico yesterday and charged with commodities fraud and manipulating the Mango crypto exchangehttps://t.co/MT31TPcmda https://t.co/gFy2FJNBm9— Jacob Silverman (@SilvermanJacob) December 28, 2022
― lag∞n, Monday, 9 January 2023 18:34 (one year ago) link
oopsy
― mh, Monday, 9 January 2023 18:53 (one year ago) link
when you find yourself about to tweet "I believe all of our actions were legal" maybe talk to your lawyer instead
― lag∞n, Monday, 9 January 2023 18:56 (one year ago) link
that's what I love about these guys, they will post through it no matter how many times a lawyer says to stop
― mh, Monday, 9 January 2023 19:21 (one year ago) link
crypto snitches, tweeting all their businesssit in the court and be their own star witness
― ( X '____' )/ (zappi), Monday, 9 January 2023 19:36 (one year ago) link
the answer I'd jump to is "because it's a scam" but this guy has more thoughts
― mh, Monday, 9 January 2023 22:05 (one year ago) link
Welp, crypto insider trading is *officially* a thing now:
https://www.justice.gov/usao-sdny/pr/tippee-pleads-guilty-first-ever-cryptocurrency-insider-trading-case
Basically the guy got inside info from Coinbase on which currencies were about to be listed and would trade them before the listing was announced.
― longtime caller, first time listener (man alive), Tuesday, 10 January 2023 16:48 (one year ago) link
same scenario as the nft one, kinda funny prices driven by availability on an exchange rather than say some sort of financial quality
― lag∞n, Tuesday, 10 January 2023 16:50 (one year ago) link
Markets are highly unstable institutions. When other institutions exhibit such instability, we question, criticize, change or end them. But market idolatry is like religion. People dare not think critically about markets. Most just suffer them meekly. https://t.co/J80jq8EiEQ pic.twitter.com/3lwloYK4fm— Richard D. Wolff (@profwolff) January 9, 2023
― frogbs, Tuesday, 10 January 2023 16:57 (one year ago) link
all sorts of anti social behavior spiked during the pandemic
― lag∞n, Tuesday, 10 January 2023 16:59 (one year ago) link
Frog that seems like kind of a simplistic tweet from an often simplistic dude. Are you quoting it unironically/uncritically?
― longtime caller, first time listener (man alive), Tuesday, 10 January 2023 17:01 (one year ago) link
I'm just amused both graphs have the same shape
― frogbs, Tuesday, 10 January 2023 17:02 (one year ago) link
/Welp, crypto insider trading is *officially* a thing now:https://www.justice.gov/usao-sdny/pr/tippee-pleads-guilty-first-ever-cryptocurrency-insider-trading-caseBasically the guy got inside info from Coinbase on which currencies were about to be listed and would trade them before the listing was announced.― longtime caller, first time listener (man alive), Tuesday, January 10, 2023 11:48 AM (twenty-three minutes ago)
― longtime caller, first time listener (man alive), Tuesday, January 10, 2023 11:48 AM (twenty-three minutes ago)
wire fraud charge and not a 10b-5 charge...
still waiting for The Big One
― 龜, Tuesday, 10 January 2023 17:12 (one year ago) link
yeah I don't think they're going to do crypto insider trading as securities fraud. At least not most of it. As I said upthread there are situations where you can argue that a "Crypto" asset is a security, but the "coins" themselves (btc, eth, etc.) typically aren't.
― longtime caller, first time listener (man alive), Tuesday, 10 January 2023 17:24 (one year ago) link
i love wolff. great tiktoks from a professor emeritus imo
― Tracer Hand, Tuesday, 10 January 2023 17:47 (one year ago) link
As I said upthread there are situations where you can argue that a "Crypto" asset is a security, but the "coins" themselves (btc, eth, etc.) typically aren't.
― longtime caller, first time listener (man alive), Tuesday, January 10, 2023 12:24 PM (forty-eight minutes ago) bookmarkflaglink
as you said right after i said
― lag∞n, Tuesday, 10 January 2023 18:13 (one year ago) link
i said it first but very quietly
― mark s, Tuesday, 10 January 2023 18:15 (one year ago) link
Crypto lender Nexo, which pulled out of the US market last month, is being investigated in its home country of Bulgaria. Offices raided. https://t.co/0jaBMZVMmR pic.twitter.com/lyNI05a4BD— Jacob Silverman (@SilvermanJacob) January 12, 2023
― lag∞n, Thursday, 12 January 2023 14:21 (one year ago) link
https://sambf.substack.com/
this guy will never take a lawyer's advice to shut up. just posting through it all
― mh, Thursday, 12 January 2023 18:57 (one year ago) link
truly bizarre behavior
― lag∞n, Thursday, 12 January 2023 19:08 (one year ago) link
🚨 SEC sues Genesis and Geminihttps://t.co/XpA5YjiiXh— kadhim (^ー^)ノ (@kadhim) January 12, 2023
― lag∞n, Thursday, 12 January 2023 22:08 (one year ago) link
a promise to pay interest is definitely a hallmark of a security lol
― 龜, Thursday, 12 January 2023 22:17 (one year ago) link
It is, although an interest-bearing savings account isn't a security.
― longtime caller, first time listener (man alive), Friday, 13 January 2023 03:47 (one year ago) link
― mh, Thursday, January 12, 2023 1:57 PM (eight hours ago) bookmarkflaglink
This guy is so fucking ridiculous. It's like he's saying, "I didn't deliberately break your priceless china, I just juggled it without asking, and I don't know how to juggle, so I didn't do anything wrong."
― longtime caller, first time listener (man alive), Friday, 13 January 2023 03:50 (one year ago) link
he really thinks he going to use his amazing pitch skills to talk his way out of this, getting all that money goes to your head
― lag∞n, Friday, 13 January 2023 03:55 (one year ago) link
probably was told he was a genius his entire life, never held accountable for anything
― longtime caller, first time listener (man alive), Friday, 13 January 2023 15:15 (one year ago) link
feel like there are a lot of people who fit that description that would nonetheless at least listen to their lawyer once under federal indictment, this guy is special
― lag∞n, Friday, 13 January 2023 15:35 (one year ago) link
If FTX had been given a few weeks to raise the necessary liquidity, I believe it would have been able to make customers substantially whole.
Nice to have an unfalsifiable narrative that you can repeat to the end of time.
― jmm, Friday, 13 January 2023 16:16 (one year ago) link
you all don't understand, he needs to get all the money back so that he can give it away at the end of his life
― Karl Malone, Friday, 13 January 2023 16:19 (one year ago) link
🤞
"We can't pay the price of the demo tapes unless we take the demo tapes to the record company and get paid!""Hello, exactly!"
― longtime caller, first time listener (man alive), Friday, 13 January 2023 16:35 (one year ago) link
― lag∞n, Friday, 13 January 2023 16:37 (one year ago) link
pretty funny bitcoin is up 15% over the last few days of terrible crypto news just goes to show you how fake it is
― lag∞n, Friday, 13 January 2023 17:20 (one year ago) link
surely cryptocurrency won't rise again in value against all conventional wisdom and with nothing solid underpinning its existence
― Karl Malone, Friday, 13 January 2023 17:36 (one year ago) link
Some “whale” (I hate using their terminology) I’m sure is pumping it right now.
― Lord Pickles (Boring, Maryland), Friday, 13 January 2023 18:46 (one year ago) link
or all of them coordinating
― lag∞n, Friday, 13 January 2023 18:55 (one year ago) link
crypto pumping slobo whale
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Friday, 13 January 2023 19:18 (one year ago) link
― Lord Pickles (Boring, Maryland), Friday, 13 January 2023 19:52 (one year ago) link
ums looool
― Tracer Hand, Friday, 13 January 2023 22:20 (one year ago) link
tbf "whale" is not crypto-specific
e.g.: https://en.wikipedia.org/wiki/2012_JPMorgan_Chase_trading_loss
― circles, Saturday, 14 January 2023 09:23 (one year ago) link
rich gamblers in general iirc
― Tracer Hand, Saturday, 14 January 2023 10:34 (one year ago) link
The ceo of FTX US, after posting a 48 tweet long tweet storm about how sorry he was and how honest he is, blocked me for asking why he said FTX US accounts were FDIC insured. My guess is because he doesn’t want to say “I lied” or “I was lied to” or “hee!! im da hobgoblin!!” pic.twitter.com/PVVtSBlYq2— Ed Zitron (@edzitron) January 15, 2023
― lag∞n, Sunday, 15 January 2023 03:33 (one year ago) link
Bored Ape Yacht Club finally announced a video game…. It’s about searching through a sewer for monkey poop and has an incredibly complicated leaderboard system. I’m literally wheezing pic.twitter.com/T7pwbRXHrN— Katie Notopoulos (@katienotopoulos) January 15, 2023
― lag∞n, Sunday, 15 January 2023 18:52 (one year ago) link
xp It's also used in pay-to-win mobile gaming and prostitution.
― Christine Green Leafy Dragon Indigo, Sunday, 15 January 2023 19:12 (one year ago) link
the leaderboard system doesn't seem complicated. like the game itself, it seems like a million other kind of facade-like offerings that are kind of the equivalent of spam - you wonder who in the world would actually be playing a game like that, and why they have such horrible taste. with the free iOS games i always assume it's children playing games on their parents phones, which is maybe why those kind of games always have some sort of transparently bullshit monetary scheme that you can't believe anyone would actually pay money for.
another trademark of those kinds of games is that the leaderboard is almost always filled with people who have somehow hacked the game. i don't even know how that shit works, but anyone who has played an ios game with a leaderboard in the last 20 years will know what i'm talking about. this makes it especially fitting for bored ape whatever, because they've said that whoever is on top of the leaderboard at the end wins some shit that i already forgot about. people ALREADY hack games with leaderboards just for the thrill of doing it, without any monetary reward. this dumb shit incentivizes them to cheat, on top of that.
this looks even worse than logan paul's game
― Karl Malone, Sunday, 15 January 2023 19:16 (one year ago) link
Only just noticed this gem in SBF's substack"I didn’t steal funds, and I certainly didn’t stash billions away. Nearly all of my assets were and still are utilizable to backstop FTX customers. I have, for instance, offered to contribute nearly all of my personal shares in Robinhood to customers–or 100%, if the Chapter 11 team would honor my D&O legal expense indemnification."
His D&O isn't honoring his legal expense indemnification BECAUSE HE COMMITTED FRAUD.
― longtime caller, first time listener (man alive), Monday, 16 January 2023 23:33 (one year ago) link
(directors and officers insurance policy)
levine goes deep on why some crypto things are securities
https://archive.ph/DIH97
― lag∞n, Tuesday, 17 January 2023 19:53 (one year ago) link
lol cmon
[DB] New FTX CEO John J. Ray III Says He's Considering Restarting Crypto Exchange: WSJ— db (@tier10k) January 19, 2023
― lag∞n, Thursday, 19 January 2023 15:51 (one year ago) link
he got the bug!@
― mark s, Thursday, 19 January 2023 15:51 (one year ago) link
really great description of the FTX code from money stuff yesterday:
If you were a normal customer at FTX, you were not allowed to have a negative balance in your account. If you put up $100 of money to buy $200 of crypto, and your crypto lost $50 of value, then your account balance was $50. If it lost another $50 of value, then your balance was $0 and you were liquidated. Your account could never be worth -$10; you got liquidated before that.If you were a market maker on FTX, though, you were allowed to have a negative balance: Effectively, FTX would lend you the money so you could open a position without depositing the money first, or have the market move against you without instant liquidation. In FTX’s code, most accounts had a “borrow” flag set to zero, meaning that they could not have negative balances, but some 4,000 accounts had the borrow flag set to some positive number, meaning that FTX would lend them the money up to some credit limit. Of those 4,000 accounts, 41 had credit limits of $1 million to $150 million. One — Alameda — had a higher limit. Alameda’s limit was $65 billion. (Slide 18 shows a code snippet, showing that the actual limit was $65,355,999,994.) “FTX will allow Alameda to have a negative balance of up to $65 billion” is functionally equivalent to “Alameda can use as much of FTX’s customer money as it wants.”There was another flag in the code, though, “can_withdraw_below_borrow.” The “borrow” flag determines how negative your account can be and keep trading: If your borrow flag is set to $10 million, and you put on some trades and they move against you and you end up with a balance of negative $5 million, then you can keep the trades on. But if you went to FTX and tried to cash out $4 million to spend on groceries — giving you a total balance of negative $9 million, still within your credit limit — FTX wouldn’t give you the money. You could use your credit limit to trade on FTX, but not to take out cash. “No, you still owe us $5 million, pay us that first, we’re not letting you take any cash out before you pay us what you owe,” FTX would quite reasonably say. Unless you had the “can_withdraw_below_borrow” flag set to “true.” Then FTX would say “sure, here’s the money.”One account had that flag set, says the presentation: Alameda. To the tune of $65 billion. Setting the borrow flag to $65 billion and the can_withdraw_below_borrow flag to true is functionally equivalent to “Alameda can take as much of FTX’s customer money as it wants, remove it from the exchange, and spend it on whatever.” (Slides 16 and 17 give you a sense of what “whatever” meant, including $253 million of Bahamas real estate — including $12.9 million for “The Conch Shack”??? — and $93 million of political donations.)The presentation describes this setting as “God Mode,”[6] which I am not sure is a technical term found in FTX’s actual codebase or documentation, but you get the idea. FTX built a video game for other people to trade crypto, but FTX — or rather its affiliate Alameda — had a cheat code. Everyone else got to trade crypto, and if they made money, they could take out the money that they made. Alameda got to trade crypto, and it got to take out as much money as it wanted, whether or not it made money. It was playing in God Mode.
If you were a market maker on FTX, though, you were allowed to have a negative balance: Effectively, FTX would lend you the money so you could open a position without depositing the money first, or have the market move against you without instant liquidation. In FTX’s code, most accounts had a “borrow” flag set to zero, meaning that they could not have negative balances, but some 4,000 accounts had the borrow flag set to some positive number, meaning that FTX would lend them the money up to some credit limit. Of those 4,000 accounts, 41 had credit limits of $1 million to $150 million. One — Alameda — had a higher limit. Alameda’s limit was $65 billion. (Slide 18 shows a code snippet, showing that the actual limit was $65,355,999,994.) “FTX will allow Alameda to have a negative balance of up to $65 billion” is functionally equivalent to “Alameda can use as much of FTX’s customer money as it wants.”
There was another flag in the code, though, “can_withdraw_below_borrow.” The “borrow” flag determines how negative your account can be and keep trading: If your borrow flag is set to $10 million, and you put on some trades and they move against you and you end up with a balance of negative $5 million, then you can keep the trades on. But if you went to FTX and tried to cash out $4 million to spend on groceries — giving you a total balance of negative $9 million, still within your credit limit — FTX wouldn’t give you the money. You could use your credit limit to trade on FTX, but not to take out cash. “No, you still owe us $5 million, pay us that first, we’re not letting you take any cash out before you pay us what you owe,” FTX would quite reasonably say. Unless you had the “can_withdraw_below_borrow” flag set to “true.” Then FTX would say “sure, here’s the money.”
One account had that flag set, says the presentation: Alameda. To the tune of $65 billion. Setting the borrow flag to $65 billion and the can_withdraw_below_borrow flag to true is functionally equivalent to “Alameda can take as much of FTX’s customer money as it wants, remove it from the exchange, and spend it on whatever.” (Slides 16 and 17 give you a sense of what “whatever” meant, including $253 million of Bahamas real estate — including $12.9 million for “The Conch Shack”??? — and $93 million of political donations.)
The presentation describes this setting as “God Mode,”[6] which I am not sure is a technical term found in FTX’s actual codebase or documentation, but you get the idea. FTX built a video game for other people to trade crypto, but FTX — or rather its affiliate Alameda — had a cheat code. Everyone else got to trade crypto, and if they made money, they could take out the money that they made. Alameda got to trade crypto, and it got to take out as much money as it wanted, whether or not it made money. It was playing in God Mode.
― 龜, Thursday, 19 January 2023 15:54 (one year ago) link
Alameda had a very long straw
― longtime caller, first time listener (man alive), Thursday, 19 January 2023 16:13 (one year ago) link
The Conch Shack
― mh, Thursday, 19 January 2023 16:21 (one year ago) link
the alameda thing is just obvs fraud one company pretending to be two companies but these 41 guys whats up with them, theres obvs a huge amount of collusion between the big crypto players seems like this could be some of it, tho i guess in the grand scheme of fake money $150m isnt even that much and if they wanted to really move big amounts around they could just do it manually, but still whats up with these guys
4,000 accounts had the borrow flag set to some positive number, meaning that FTX would lend them the money up to some credit limit. Of those 4,000 accounts, 41 had credit limits of $1 million to $150 million.
― lag∞n, Thursday, 19 January 2023 16:24 (one year ago) link
are they 41 difft guys tho
― mark s, Thursday, 19 January 2023 16:26 (one year ago) link
im santos-pilled
same guy with 41 different sweaters
― lag∞n, Thursday, 19 January 2023 16:27 (one year ago) link
Gemini’s co-brothers are alleging that Barry Silbert used his loan company to increase the amount of Bitcoin in Grayscale’s coffers to increase the amount of money it made, using stupid loans from 3AC, the hedge fund that killed the market. It's SO dumb.https://t.co/dWWMSOaDUu pic.twitter.com/B1QU4O50Ym— Ed Zitron (@edzitron) January 19, 2023
― lag∞n, Thursday, 19 January 2023 16:45 (one year ago) link
I mean as with a lot of frauds (though not all) it's almost funny that you need an explainer for FTX/Alameda, because it's like "It's this very sophisticated computer code where they could take your money and do whatever they wanted with it even though they told you otherwise"
― longtime caller, first time listener (man alive), Thursday, 19 January 2023 16:59 (one year ago) link
*you* not intended to refer to anyone specific
― longtime caller, first time listener (man alive), Thursday, 19 January 2023 17:00 (one year ago) link
borrow > 0
― G. D’Arcy Cheesewright (silby), Thursday, 19 January 2023 17:30 (one year ago) link
My BIG story on the NFT collapse for Vanity Fair has a bombshell: the buyer of the $24 million trove of Bored Apes at Sotheby's appears to be Sam Bankman-Fried's disgraced FTX. It's a deep-dive into deals with the devil during a gold rush, before the fall. https://t.co/PseW1YVIaZ— Nate Freeman (@NFreeman1234) January 18, 2023
― groovypanda, Friday, 20 January 2023 06:52 (one year ago) link
it's not a new thought, but jeez sotheby's suuuuuuuuuuuuuucks
― Karl Malone, Friday, 20 January 2023 07:44 (one year ago) link
what is even going on
https://www.mollywhite.net/etc/ftx-contagion
― Karl Malone, Saturday, 21 January 2023 00:52 (one year ago) link
all that money from investors wow is that real money
― lag∞n, Saturday, 21 January 2023 00:58 (one year ago) link
I presume the Ontario Teachers Pension Fund was not minting their own coins
― Lord Pickles (Boring, Maryland), Saturday, 21 January 2023 01:26 (one year ago) link
teachercoin™️
― lag∞n, Saturday, 21 January 2023 01:31 (one year ago) link
Never use Slack pic.twitter.com/jxyxK1fWeU— kadhim (^ー^)ノ (@kadhim) January 31, 2023
― lag∞n, Tuesday, 31 January 2023 13:41 (one year ago) link
unveiling my new cryptocurrency PonziCoin
― Critique of the Goth Programme (Neil S), Tuesday, 31 January 2023 14:16 (one year ago) link
btw i watched this video on the real ponzi, its a wild story, people were going crazy for his investment opportunities
https://www.youtube.com/watch?v=w4waqVKanxA
― lag∞n, Tuesday, 31 January 2023 14:41 (one year ago) link
at least he was handsome, none of these aholes are handsome anymore
― ꙮ (map), Tuesday, 31 January 2023 19:16 (one year ago) link
no one knows how to be a proper dandy these days
― lag∞n, Tuesday, 31 January 2023 19:27 (one year ago) link
thinking its best not to use a technology that publicly exposes an immutable record for crime
https://www.smh.com.au/national/nsw/property-grab-afp-smashes-alleged-10-billion-chinese-money-laundering-operation-20230201-p5ch7k.html
Federal agents have dismantled an alleged Chinese-Australian money laundering organisation that moved an estimated $10 billion offshore while amassing a blue-chip property portfolio comprising Sydney mansions, a luxury city building and hundreds of acres of land near Sydney’s second airport.
....
Police have also seized cryptocurrency and are examining how the syndicate used crypto exchanges to transfer tainted funds around the world without drawing the attention of authorities, according to confidential sources with knowledge of the investigation.
― lag∞n, Thursday, 2 February 2023 16:14 (one year ago) link
menawhile scrunkly is scrimblo-staked blarf, many take this as an indication the hacker is a wangspung bluvbif
Wormhole hacker becomes the third largest holder of stETHJanuary 23, 2023https://t.co/uiHwcpktlu pic.twitter.com/c47XRPPY5F— web3 is going just great (@web3isgreat) February 1, 2023
― mark s, Thursday, 2 February 2023 16:15 (one year ago) link
tho tbf there are some cryptos that dont leave such a trail and mb they were just busted by records kept by the exchanges, either way better to use time tested crime methods and not throw your lot in with standford grads who do not have crime experience xp
― lag∞n, Thursday, 2 February 2023 16:16 (one year ago) link
throw your lot in with standford grads who do not have crime experience
is this effective altruism butterfly.jpg
― mark s, Thursday, 2 February 2023 16:19 (one year ago) link
― lag∞n, Thursday, 2 February 2023 16:20 (one year ago) link
fwiw not sure crypto was really a big part of that investigation but still
― lag∞n, Thursday, 2 February 2023 16:21 (one year ago) link
The alleged transnational crime organisation exploited Australia’s migration system, with a senior syndicate figure being granted a significant-investor visa and another receiving Australian citizenship despite being a wanted fugitive.
― lag∞n, Thursday, 2 February 2023 16:22 (one year ago) link
Presumably they did this through the loophole known as “being white”.
― Tsar Bombadil (James Morrison), Thursday, 2 February 2023 23:27 (one year ago) link
sound like theyre chinese, they were rich tho
― lag∞n, Thursday, 2 February 2023 23:33 (one year ago) link
were they crazy rich
― 龜, Friday, 3 February 2023 00:01 (one year ago) link
criminal rich azns
― lag∞n, Friday, 3 February 2023 00:08 (one year ago) link
crime imitating art (movie titles)
― mh, Friday, 3 February 2023 17:27 (one year ago) link
BREAKING per @EleanorTerrett & my reporting: Securities lawyers including a past top @SECGov official say SEC looking to largely "cut off" crypto in all its forms after FTX debacle. @SEC_Enforcement has "blanketed" crypto w so-called Wells Notices signaling intent to bring cases— Charles Gasparino (@CGasparino) February 14, 2023
i am guessing that, despite appearances, this will have no effect and right now is actually a great time to buy crypto
― President of Destiny Encounters International (Karl Malone), Wednesday, 15 February 2023 00:22 (one year ago) link
Buy the dip(shit)!
― Alicia Silver Stone (Boring, Maryland), Wednesday, 15 February 2023 13:49 (one year ago) link
interested to see where the political donations stuff goes some compelling evidence out there that big name consultant types, lis smith sean mcelwee, might be wrapped up in this
Nishad Singh, former director of engineering at FTX, has pled guilty to six charges including fraud charges, conspiracy to commit money laundering, and a charge related to campaign finance violations. He will cooperate against SBF.— Molly White (@molly0xFFF) February 28, 2023
― lag∞n, Tuesday, 28 February 2023 17:42 (one year ago) link
a long packed thread on the failed bank signature, not even sure where to drop it it touches so many sides: the recent unpleasantness (big bank run, wobbliness ongoing), and thus thiel, musk (walk-on), anna selvey (who comes out looking good!) (ish), FTX, wirecard (comparison), BCCI, crooked new york landlordism (what other kind is there), madoff and ponzi, def jam & murder inc, russian and israeli oligarchs, diverse mafias, putin and the ottoman empire, and to start it all an assassination (perp very disputed) (someone got locked up but may have been framed!)
This is a deep dive on Signature, the "other" bank failure of March 2023. Barney Frank & the WSJ editorial board have called it an "Execution"Appropriately, Signature's origins date back to an assassination.The year was 1999, dateline Monte Carlo https://t.co/7fReQf2uHv— moe tkacik (@moetkacik) March 24, 2023
― mark s, Saturday, 25 March 2023 10:37 (one year ago) link
good article but i want everyone involved to be thrown into an active volcano
― I'm sad that you wouldn't bother to watch my youtubes (cat), Tuesday, 28 March 2023 04:43 (one year ago) link
keep anne selvey, she has a funny voice and like robin hood only scammed the rich to give to the poor (herself)
― mark s, Tuesday, 28 March 2023 09:37 (one year ago) link
tbf its handy for wash trading too sure the whales already have their ways to do it but what about the lil guy who wants to pump n dump some shit coin whos looking out for him
Here comes another fraudulent Tether exchange, which openly admits to being a no-KYC/AML money laundering exchange.It makes sense for Tether to integrate with more money laundering operations. How else would terrorists launder their money?Tether 🤝 Terrorist money laundering. pic.twitter.com/1RdDNHweb2— Bitfinex’ed 🔥🐧 Κασσάνδρα 🏺 (@Bitfinexed) April 11, 2023
― lag∞n, Tuesday, 11 April 2023 14:02 (one year ago) link
Bitcoin miners can also avoid fees Texas charges to maintain and bolster the power grid by strategically powering down during peak demand, when those fees are assessed. And when power prices are high, the miners can also shut down and resell their allotted electricity — which they prepurchase at low rates — for hefty profits.
The Times gave two examples of how this works. During 2021's Winter Storm Uri, during which about 40 Texans froze to death during extended blackouts, ERCOT paid Bitdeer's Bitcoin mine in Rockdale an average of $175,000 an hour for not operating, earning the company more than $18 million over four days — "from fees ultimately paid by Texans who had endured the storm," the Times adds. Another Bitcoin company made tens of millions reselling electricity during Uri.
https://theweek.com/in-depth/1022698/how-voracious-bitcoin-mining-is-messing-with-texans
― Perverted By Linguiça (sleeve), Tuesday, 18 April 2023 23:30 (one year ago) link
― lag∞n, Tuesday, 18 April 2023 23:37 (one year ago) link
Just the markets at work, nothing to see here.
― Chewshabadoo, Wednesday, 19 April 2023 09:27 (one year ago) link
Every use case that gets touted for bitcoin turns out to be something that actively makes the world worse without even a positive side effect.
― longtime caller, first time listener (man alive), Wednesday, 19 April 2023 18:11 (one year ago) link
We screwed up and we are sorry. Yesterday we shared an overview of the $pepe meme coin to provide a fact-based picture of a trending topic. This did not provide the whole picture of the history of the meme and we apologize to the community.— paulgrewal.eth (@iampaulgrewal) May 11, 2023
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Thursday, 11 May 2023 19:56 (eleven months ago) link
An NFT of Jack Dorsey's first tweet bought for $2.9M is now valued at less than $4 pic.twitter.com/yQGjT2pUbI— Stocktwits (@Stocktwits) July 21, 2023
― mark s, Saturday, 22 July 2023 13:10 (nine months ago) link
not what that picture says -- it's listing all current bids, the biggest of which is $47.
it had a top bid of $280 last year.
― formerly abanana (dat), Saturday, 22 July 2023 22:15 (nine months ago) link
tether untethering?
― 𝔠𝔞𝔢𝔨 (caek), Friday, 4 August 2023 02:05 (eight months ago) link
hilarious vulnerability discovered in popular wallet tool, accounts being drained of funds: https://milksad.info/
― crutch of england (ledge), Thursday, 10 August 2023 08:12 (eight months ago) link
but but but public ledger
― Tracer Hand, Thursday, 10 August 2023 09:03 (eight months ago) link
― lag∞n, Thursday, 10 August 2023 11:15 (eight months ago) link
If you do that, is it even a crime?
― Tsar Bombadil (James Morrison), Friday, 11 August 2023 00:04 (eight months ago) link
not so much a crime as a civic responsibility imo
also lol
― pretty god (cat), Friday, 11 August 2023 11:04 (eight months ago) link
In 30 minutes: a hearing on whether Sam Bankman-Fried will be remanded to jail after leaking to the press private diary entries of a witness in his case.See my past coverage of this:• https://t.co/Q83XlNt69b• https://t.co/WCbaAWSkCT• https://t.co/n3KPYDsefe— Molly White (@molly0xFFF) August 11, 2023
Sam Bankman-Fried's bail has been revoked.— Molly White (@molly0xFFF) August 11, 2023
― lag∞n, Friday, 11 August 2023 21:49 (eight months ago) link
he needs to work on being more subtle with his crimes
― lag∞n, Friday, 11 August 2023 21:59 (eight months ago) link
bankman sr and the mooch in trouble
Because of Daddy Bankman the Mooch was able to execute his/Skybridge exit agreement with #FTX the day before FTX entered bankruptcy....its always good to have a shadow director on speed dial. https://t.co/R8v40ggU7k pic.twitter.com/nhCsHDkuKb— @intel_jakal (@intel_jakal) August 13, 2023
― lag∞n, Sunday, 13 August 2023 14:16 (eight months ago) link
Bitcoin trading volume is at its lowest in more than four years https://t.co/vCshqfxTu3— CNBC (@CNBC) August 28, 2023
― 𝔠𝔞𝔢𝔨 (caek), Monday, 28 August 2023 21:40 (seven months ago) link
SBF's father was unhappy with his salary at FTX US so he emailed SBF asking for more money, and then pulled the "I'm telling your mother" Dad move and looped SBF's mom into the email thread pic.twitter.com/jJaHFqpI7Z— Conor (@jconorgrogan) September 19, 2023
― lag∞n, Tuesday, 19 September 2023 15:59 (seven months ago) link
levine on tether
The Tether conspiracy theories weren't conspiracy theories after all? Because it sure sounds like Tether's spokesperson just admitted to them. via @matt_levinehttps://t.co/tUfxTG0LiJ pic.twitter.com/RyXBJuQ33U— John Paul Koning (@jp_koning) September 22, 2023
― lag∞n, Friday, 22 September 2023 21:11 (seven months ago) link
blessed news
Sam Bankman-Fried will take the stand to defend his actions in the lead-up to the collapse of his digital-asset empire https://t.co/V2RDzHXxuN— Bloomberg Wealth (@wealth) October 25, 2023
― lag∞n, Wednesday, 25 October 2023 15:38 (five months ago) link
― longtime caller, first time listener (man alive), Wednesday, 25 October 2023 16:07 (five months ago) link
recalling when he declared himself one of the worlds great persuaders, silicon valley guys giving him all that money really fucked with his head lol
― lag∞n, Wednesday, 25 October 2023 16:08 (five months ago) link
then you hear him talk and its like um yeah uhh so the thing you have to understand is i forgot to look at the spreadsheet
― lag∞n, Wednesday, 25 October 2023 16:10 (five months ago) link
SBF: *comes back into Zoom frame with giant spaghetti sauce stain on his pajama shirt* "Uh, sorry, uh, what? Yeah, *BUURRRRRP* we are well capitalized."VCs: "This man is a genius who doesn't need to play by conventional rules."
― longtime caller, first time listener (man alive), Wednesday, 25 October 2023 16:54 (five months ago) link
one of the things vcs loved him for was saying he wanted people to be able to buy a banana with their app lmao
― lag∞n, Wednesday, 25 October 2023 17:03 (five months ago) link
the best part was how he'd play league of legends during VC calls and that was written up glowingly in his a16z profile
― 龜, Wednesday, 25 October 2023 17:13 (five months ago) link
The Zoom went well for all concerned. SBF looked relaxed as he answered questions, talking, as he usually does, in complete paragraphs about topics of extreme complexity. Ramnik Arora, FTX’s head of product and another ex-Facebook engineer, remembers the meeting clearly: “We’re getting all these questions from Sequoia toward the end. He’s absolutely fantastic.” Arora locks eyes with me, and I am mesmerized. Arora is intense—calling to mind a Bollywood version of Adrian Brody. “Unbelievably fantastic,” he says, shaking his head.Bailhe remembers it the same way: “We had a great meeting with Sam, but the last question, which I remember Alfred asking, was, ‘So, everything you’re building is great, but what is your long-term vision for FTX?’”That’s when SBF told Sequoia about the so-called super-app: “I want FTX to be a place where you can do anything you want with your next dollar. You can buy bitcoin. You can send money in whatever currency to any friend anywhere in the world. You can buy a banana. You can do anything you want with your money from inside FTX.”Suddenly, the chat window on Sequoia’s side of the Zoom lights up with partners freaking out.“I LOVE THIS FOUNDER,” typed one partner.“I am a 10 out of 10,” pinged another. “YES!!!” exclaimed a third.What Sequoia was reacting to was the scale of SBF’s vision. It wasn’t a story about how we might use fintech in the future, or crypto, or a new kind of bank. It was a vision about the future of money itself—with a total addressable market of every person on the entire planet.“I sit ten feet from him, and I walked over, thinking, Oh, shit, that was really good,” remembers Arora. “And it turns out that that fucker was playing League of Legends through the entire meeting.”“We were incredibly impressed,” Bailhe says. “It was one of those your-hair-is-blown-back type of meetings.” Not only that, Arora says, but League of Legends is the kind of multiplayer online battle arena video game where every four minutes or so of tactical maneuvering is punctuated by ten seconds of action known as a gank—gamer slang for “gang killing”—where you and your team gang up on an enemy. “There’s a fight that happens, basically,” says Arora, who was watching over SBF’s shoulder as he answered that final question from Sequoia, “and I’m like, This guy is fucking in a gank!”The B round raised a billion dollars. Soon afterward came the “meme round”: $420.69 million from 69 investors.
https://web.archive.org/web/20221027180943/https://www.sequoiacap.com/article/sam-bankman-fried-spotlight/
― 龜, Wednesday, 25 October 2023 17:15 (five months ago) link
i dont know anything about league of legends but apparently for the time he put into it hes not very good, there was a tweet from noted gamer AOC like hes only bronze 3
― lag∞n, Wednesday, 25 October 2023 17:19 (five months ago) link
― lag∞n, Wednesday, October 25, 2023 11:10 AM (one hour ago) bookmarkflaglink
Elon Musk is also like this, back when the media was fawning over him nonstop (pre Thai cave submarine I guess) I watched a few videos of him speaking and thought he might honestly be the worst public speaker I've ever seen. he can barely put a sentence together and has less charisma than Mike Pence. anyway, I very much welcome this development
― frogbs, Wednesday, 25 October 2023 17:24 (five months ago) link
i think theres a thing operating where these guys sound so dumb some people assume they must be iconoclastic geniuses
― lag∞n, Wednesday, 25 October 2023 17:27 (five months ago) link
especially when theyre telling them what they want to hear
― lag∞n, Wednesday, 25 October 2023 17:33 (five months ago) link
apparently the game that he'd play a lot was something called "Storybook Brawl," which FTX later acquired. I guess it's from someone who had worked on Magic the Gathering video game projects, and in the aftermath of the purchase a bunch of Magic players (and some events) in the same social circle had a lot of boosting of crypto, sponsorship, etc. and when FTX blew up they all quickly swept it under the rug
apparently it also tanked the company that made Storybook Brawl
― ɥɯ ︵ (°□°) (mh), Wednesday, 25 October 2023 17:57 (five months ago) link
ran into a discussion online where people were saying that some Magic pro's discord had ~crypto drama~
― ɥɯ ︵ (°□°) (mh), Wednesday, 25 October 2023 17:58 (five months ago) link
lol gotta love it
― lag∞n, Wednesday, 25 October 2023 18:01 (five months ago) link
kinda funny how one of his big ingenious innovations was celebrity endorsements
― lag∞n, Wednesday, 25 October 2023 18:03 (five months ago) link
I think he did play League of Legends for a while but people have tried to retroactively act like the Storybook Brawl thing didn't exist because they wanted to act like it never happened. So any reference to it is now "uhh he was playing League"
― ɥɯ ︵ (°□°) (mh), Wednesday, 25 October 2023 18:04 (five months ago) link
one of the funny things he with investor money was give $200m to this fund, that was really more of a celebrity match making service, which the owners promptly put directly in their pockets
The court showed a spreadsheet of investments made in 2021. They included $1 billion to Genesis for a mining company, $499 million to startup Anthropic and $200 million to investment firm K5.
Singh said the K5 outlay was most troubling. He said Bankman-Fried sent him a term sheet detailing hundreds of millions of dollars of bonuses to the owners, Michael Kives and Bryan Baum. That followed a K5 dinner Bankman-Fried attended alongside Hillary Clinton, Katy Perry, Orlando Bloom, Leonardo DiCaprio, and Kris and Kylie Jenner.
― lag∞n, Wednesday, 25 October 2023 18:07 (five months ago) link
that anthropic, an ai company naturally, investment is the one that did well btw, people are saying it could cover all the ftx losses but even if thats true according to some valuation can you really sell billions of dollars of shares in some early stage startup probably not
― lag∞n, Wednesday, 25 October 2023 18:09 (five months ago) link
with the amount of money they were splashing around it was possible something would eventually make money and they could close the loop on some of the scamming
but I don't think they ever really made concrete plans in that direction!
― ɥɯ ︵ (°□°) (mh), Wednesday, 25 October 2023 18:13 (five months ago) link
I just looked and the FTT token is still trading on other platforms. The origins of it, where it was pure nonsense backed by nothing, make no difference. It's basically trading ($1.27) for the price it opened at ($1.20)
― ɥɯ ︵ (°□°) (mh), Wednesday, 25 October 2023 18:16 (five months ago) link
yeah its unclear what the plan was, seems more like one of those low end scams that only end one way than an attempt a serious white collar criminality
― lag∞n, Wednesday, 25 October 2023 18:18 (five months ago) link
I think there was testimony about SBF saying that a bet that led to either the end of the world or utopia was worth it. I think that was his "investing philosophy" - make reckless gambles that have a chance of massive payout. Which doesn't really seem that different to me than just going to vegas and betting your house on a roulette #, so IDGI. Galaxy brained trader. Armchair psych but he has the vibe of someone who was literally never told anything he did was wrong or stupid.
― longtime caller, first time listener (man alive), Wednesday, 25 October 2023 21:09 (five months ago) link
the @innercitypress account does the best of the liveblogging (molly white is also present but not allowed to use her phone apparently)
SBF's lawyer Everdell: I'll move on to another topic. Do you see the auto-delete column?AUSA Kudla: Objection - asked and answered.Judge Kaplan: Sustained. Mr. Everdell, this is not helpful. This is not an exam for new eyeglasses.
― mark s, Thursday, 26 October 2023 17:21 (five months ago) link
i watched a video on what covering the case is like and they take all your electronics on the way in even if youre just going to the overflow room, so idk how the live blogging is happening
― lag∞n, Thursday, 26 October 2023 17:25 (five months ago) link
maybe they have special dispensation from the judge, it's not as if it's happening in secret
― mark s, Thursday, 26 October 2023 17:27 (five months ago) link
he has the vibe of someone who was literally never told anything he did was wrong or stupid.
like so many of these clowns
― out-of-print LaserDisc edition (sleeve), Thursday, 26 October 2023 17:28 (five months ago) link
maybe they have special dispensation from the judge
― mark s, Thursday, October 26, 2023 1:27 PM (two minutes ago) bookmarkflaglink
yeah must be smth like that
― lag∞n, Thursday, 26 October 2023 17:30 (five months ago) link
SDNY generally makes you turn in your phones even if you're a lawyer. I think there's a way to get an exemption but I don't go often enough to bother looking into it.
― longtime caller, first time listener (man alive), Thursday, 26 October 2023 17:58 (five months ago) link
like the guard takes everyone's phones and the entrance and puts them in a cubby in a security room.
― longtime caller, first time listener (man alive), Thursday, 26 October 2023 17:59 (five months ago) link
our justice system is so cruel
― lag∞n, Thursday, 26 October 2023 18:00 (five months ago) link
anyway SBF is now on the stand
― mark s, Thursday, 26 October 2023 18:14 (five months ago) link
By Rachel Scharf · Listen to articleLaw360 (October 27, 2023, 9:15 AM EDT) -- Law360 reporters are providing live coverage of the trial of FTX Trading Ltd. founder Sam Bankman-Fried. Follow along here.
10:34 a.m.: Bankman-Fried has begun his long-awaited direct testimony before the jury. He starts by point-blank denying that he defrauded anyone or stole customer money, while acknowledging that "there were significant oversights" in the management of FTX.
"A lot of people got hurt — customers, employees — and the company ended up in bankruptcy," he testifies. "I made a number of small mistakes and a number of larger mistakes. By far the largest mistake is we didn't have a dedicated risk management team."
He's now telling the jury how he founded Alameda Research after working as a trader at Jane Street Capital. At first, Bankman-Fried says, he knew "basically nothing" about cryptocurrencies and "had absolutely no idea how they worked."
Bankman-Fried says he started running Alameda from an Airbnb apartment in Berkeley, California, eventually bringing on his college buddy Gary Wang, former Jane Street colleague Caroline Ellison and his brother's high school friend Nishad Singh. All three have pled guilty and testified during the government's case-in-chief.
Later, testifies Bankman-Fried, he and Wang decided to start their own crypto exchange. He says Wang was responsible for building out FTX's technical infrastructure. The defendant seeks to distance himself by noting, "I wasn't much of a programmer. I didn't write any of FTX's code."
"I was [ Wang's] supervisor in that ultimately I was the CEO, and ultimately I had authority … [ but] I didn't supervise any of the direct work that he was doing," Bankman-Fried tells the jury. "He and Nishad were both authorized to make decisions without consulting with me."
9:57 a.m.: Good morning from 500 Pearl Street. After a false start yesterday, Sam Bankman-Fried will actually testify today to the jury tasked with deciding whether he stole billions of customer dollars from his now-defunct crypto exchange FTX.
Yesterday afternoon, Bankman-Fried delivered provisional testimony outside the jury's presence in order for U.S. District Judge Lewis A. Kaplan to decide whether his claims about the involvement of lawyers in FTX will be admissible before the jury.
Now, Judge Kaplan rules that Bankman-Fried can testify about attorneys' involvement in crafting FTX's data retention policies. But the judge bars the defendant from saying that attorneys drafted other, "plain vanilla legal documents" connected to the alleged siphoning of customer deposits from FTX to Bankman-Fried's hedge fund Alameda Research.
"That evidence would, in my judgment, be confusing and highly prejudicial by falsely implying that the lawyers, with full knowledge of all of the facts, blessed what the defendant's alleged to have done," said Judge Kaplan. "And I didn't hear that at all yesterday."
The judge also denies Bankman-Fried's request to bar his answers to government questioning yesterday — which were at times evasive and rambling — from being used as impeachment evidence on cross-examination.
"To the extent any objections were made yesterday, I ruled on them," said Judge Kaplan. "The rulings stand."
― longtime caller, first time listener (man alive), Friday, 27 October 2023 15:03 (five months ago) link
https://media.tenor.com/QKG2W3O4lW4AAAAd/caveman-lawyer-golf.gif
― longtime caller, first time listener (man alive), Friday, 27 October 2023 15:07 (five months ago) link
maybe hell do better with a day of practice
― lag∞n, Friday, 27 October 2023 15:15 (five months ago) link
I mean tbh I can't see any defense he could raise that would be credible. I'm guessing his lawyers did all they could to try to get him to just plead guilty.
― longtime caller, first time listener (man alive), Friday, 27 October 2023 16:12 (five months ago) link
"Only the people who directly reported to me and lived with me in a mansion in the bahamas did all the bad stuff and I didn't know anything about it" doesn't really fly
― longtime caller, first time listener (man alive), Friday, 27 October 2023 16:13 (five months ago) link
its all hes got, besides taking a plea, which is what he shouldve done
― lag∞n, Friday, 27 October 2023 18:07 (five months ago) link
did miami dade stadium change its name back yet
― mark s, Friday, 27 October 2023 18:37 (five months ago) link
Kaseya Center[6] (formerly American Airlines Arena, FTX Arena, and Miami-Dade Arena) is a multi-purpose arena located along Biscayne Bay in Miami, Florida and currently named by the company Kaseya.
― lag∞n, Friday, 27 October 2023 18:38 (five months ago) link
@innercitypress trial livetweet: SBF: I spoke with them about if our 2021 revenue was in fact over $1 billion.Cohen: Why was that important?SBF: It's a round number.
― mark s, Friday, 27 October 2023 18:41 (five months ago) link
one thing ive been wondering and havent found any answer to, maybe cause its too far down the crypto iceberg, is how much of the missing ftx money was real, theres weird shit where the various exchanges and other big crypto institutions shuffle money around between them that really looks like collusion in some larger fraud, did fxt really have $15b or was some of it that weird slushing around crypto, $15b is a lot for crypto, i think one of the reasons all these exchanges turn out to be fraudulent is there just isnt enough real volume to run a profitable exchange off of, most crypto trades are just market manipulation by a the relatively small handful of entities that own the majority of the market, and theyre not paying for trades they own exchanges they have deals to move crypto through each others exchanges and so forth, thats what it seems like to me
― lag∞n, Friday, 27 October 2023 18:52 (five months ago) link
SBF's trial strategy seems to be like "i wasn't really following that stuff closely, my lawyers said it was ok to delete the speadsheets"
and the spreadsheet that was released was written in pencil and had a folder called like "not shady at all plz don't look in here"
― mark s, Friday, 27 October 2023 19:00 (five months ago) link
they should call me to the stand
― mark s, Friday, 27 October 2023 19:01 (five months ago) link
ftx raised $2b but that wasnt enough for them lol thats so much money
― lag∞n, Friday, 27 October 2023 19:03 (five months ago) link
in fact i am not needed on the stand, SBF has this
@innercitypress trial livetweeting: Cohen: Why did FTX use Slack and Signal?SBF: They are conversational. Cohen: What is encryption?SBF: It's like in World War II... on the Internet, it's about only the sender and receiver seeing the message. We thought it was good.AUSA Sassoon: Objection - who is "we"?SBF: I am sorry, I meant me, I often say "we" to not single myself out from other employees.Cohen: What about records retention?SBF: Some had to be kept, some should be not kept, and then those in the middle.
― mark s, Friday, 27 October 2023 19:04 (five months ago) link
like world war… on the internet
when hes right hes right
― lag∞n, Friday, 27 October 2023 19:05 (five months ago) link
ILX = navajo code
― citation needed (Steve Shasta), Friday, 27 October 2023 19:12 (five months ago) link
if anyone is still wondering about it, molly white explained on her youtube-stream why inner city press can livetweet the trial but she (and most others) can't: he is an attested new york court reporter of long-standing (actually also flitting between and reporting on other trials in the same court-house) and as such has his own designated room (along with the other attested court reporters) and is allowed to bring in his phone and laptop and such
― mark s, Saturday, 28 October 2023 14:27 (five months ago) link
ah thank you i did half heartedly try to figure that out
― lag∞n, Saturday, 28 October 2023 14:28 (five months ago) link
good piece
There’s another rumor, which is an incomplete story — but a lot of people strongly suspect that Alameda was started with a pile of tethers backed by nothing, because there was too much heat around Bitfinex/Tether in 2017 and the whales needed a new trading partner.
https://davidgerard.co.uk/blockchain/2023/10/26/the-beautiful-mind-of-sam-bankman-fried/
― lag∞n, Monday, 30 October 2023 01:51 (five months ago) link
very good article thx, good lord these EA people are insane
Most zillionaires don’t seek the limelight. They just get on with making money. If you see the ultra-wealthy promoting themselves, it’s a stage-managed production for publicity purposes, designed to distract from whatever is really going on.
They want you to think they’re the next Steve Jobs. Somehow, they keep turning out to be Elizabeth Holmes.
― out-of-print LaserDisc edition (sleeve), Monday, 30 October 2023 02:13 (five months ago) link
so fuckin crazy
He goes on to name a specific rationalist, Kelsey Piper of Vox — the journalist that Sam later shot his mouth off to — as someone who really should have gotten onto Adderall for greatest effectiveness in her altruism: “by my calculations, that decreased Kelsey’s effectiveness by 20%, thus costing approximately 54 billion lives.” Yeah, rationalists really do say that sort of thing as if it’s normal.
― lag∞n, Monday, 30 October 2023 02:18 (five months ago) link
yep, and added in comments by author when someone said "that was just a joke":
Rationalists do say that sort of thing in all seriousness, and it would only work as a joke because they do. This example is in the class of statements that they mean until they’re called on them, at which point they claim they were “jokes.” Scott Alexander has always been very heavy on this variety of deniable statement.
― out-of-print LaserDisc edition (sleeve), Monday, 30 October 2023 02:20 (five months ago) link
c.f. Sartre on fascism
― out-of-print LaserDisc edition (sleeve), Monday, 30 October 2023 02:21 (five months ago) link
its obviously a joke you can tell cause its 20% more hyperbolic than the stuff they usually say
― lag∞n, Monday, 30 October 2023 02:22 (five months ago) link
one of many things bad things about ea is theyre "first principles" cultists, like upon hearing the term effective altruism you might assume its a good thing people learning about the best way to give away their fortunes by say consulting experts on the topic, but no theyre just going to figure it out themselves using logic, the same logic that lead bankman to the conclude that shakespeare was bad because there were fewer people alive back then
― lag∞n, Monday, 30 October 2023 02:33 (five months ago) link
shakespeare was bad because there were fewer people alive back then
― out-of-print LaserDisc edition (sleeve), Monday, 30 October 2023 02:35 (five months ago) link
https://pbs.twimg.com/media/F7xys_AbcAAmoWF?format=jpg&name=large
its funny how mad so many of these geniuses are about having been made to read a few books in school
― lag∞n, Monday, 30 October 2023 02:38 (five months ago) link
a silicon valley billionaire reading proust "this is inefficient!"
― lag∞n, Monday, 30 October 2023 02:43 (five months ago) link
on one hand I feel bad for the guy if he's all discombobulated by not having any medication in jail, but on the other hand the entire shtick of him having "brain fog" and being "unable to focus" is totally him thinking he only sounds very smart and has the Good Thoughts when he's cranked to the gills on speed
many people throughout history have had this issue, and a surprising number have been able to convince others that their ideas are very good by talking quickly and verbosely. or writing many pages about how great their thoughts are, like Ayn Rand
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 14:18 (five months ago) link
they should let him be cranked up on the stand in front of the jury imo
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 14:20 (five months ago) link
hell yeah lets do this
― lag∞n, Monday, 30 October 2023 14:22 (five months ago) link
the rate at which guys with altered brain chemistry whether via drugs or mental illness have been history makers is pretty high lol
― lag∞n, Monday, 30 October 2023 14:25 (five months ago) link
I see that this was covered in that david gerard link above, nm
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 14:40 (five months ago) link
people like to give attention to people who stand out. one of the main ways to succeed out there is to figure out what people think is normal and then do something just far enough out of their comfort zones to keep their interest
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 14:41 (five months ago) link
@innercitypress
Cohen: How many hours a day were you working?SBF: 22 a day, 23 maybe
his guys shd ask him abt panera lemonade consumption, it's a cast-iron defence imo
(cross has now started btw, the above is from before that)
― mark s, Monday, 30 October 2023 15:47 (five months ago) link
live nytimes coverage here: https://www.nytimes.com/live/2023/10/30/business/sam-bankman-fried-ftx-trial
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 16:07 (five months ago) link
everything from the prosecutor is asking him if he remembered saying things that he obviously said and he's all "I don't remember but maybe I said that"
the defense is completely "I didn't know anything and if I said I did, I do not recall having said that"
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 16:10 (five months ago) link
the classic "I'm just a little guy!" defense but a little guy with memory problems
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 16:11 (five months ago) link
only works when youre being questioned by congress
― lag∞n, Monday, 30 October 2023 16:12 (five months ago) link
sbf good again
AUSA Sassoon: You called people on Crypto Twitter "Dumb motherf*ckers"?
― mark s, Monday, 30 October 2023 16:20 (five months ago) link
― lag∞n, Sunday, October 29, 2023 9:38 PM (yesterday) bookmarkflaglink
I can't find it now, but I'm pretty sure John Fahey made exactly this argument in one of his liner notes, except it was obviously tongue in cheek.
― longtime caller, first time listener (man alive), Monday, 30 October 2023 16:21 (five months ago) link
"this argument" = statistics prove that there are better composers than Beethoven alive today, or something along those lines.
― longtime caller, first time listener (man alive), Monday, 30 October 2023 16:22 (five months ago) link
sbf secret fahey freak
― lag∞n, Monday, 30 October 2023 16:24 (five months ago) link
“The stuff you said about wanting good regulations was just PR, wasn’t it?” Sassoon, the prosecutor, asked. Bankman-Fried said it wasn’t. Then the prosecution showed screenshots of Bankman-Fried telling a journalist exactly that.
― ɥɯ ︵ (°□°) (mh), Monday, 30 October 2023 16:25 (five months ago) link
One of the things that happens when illiterate "smart people" try to just figure everything out "from reason" is that they wind up coming up with trite and stupid conclusions that are not only unoriginal but have already been addressed by many people. That's part of why reading and learning is a good idea - other humans have come before you with similar thoughts.
― longtime caller, first time listener (man alive), Monday, 30 October 2023 16:28 (five months ago) link
yeah knowledge is better than logic
― lag∞n, Monday, 30 October 2023 16:30 (five months ago) link
AUSA Sassoon: Did you disclose to your customers that the risk engine had been exploited?SBF: I can explain if you want.AUSA: That's alright.
― mark s, Monday, 30 October 2023 19:27 (five months ago) link
I mean, there's arguments about the worth of Shakespeare and the canon and their place in power systems, but this isn't that, this is the same regarding literature as the AI doomers are about intelligence, boiling it down to a number that you can plot going upwards.
one of many things bad things about ea is theyre "first principles" cultists, like upon hearing the term effective altruism you might assume its a good thing people learning about the best way to give away their fortunes by say consulting experts on the topic
Also it's a very "well that sounds nice, who could be against that?" gig, like calling yourself rationalists, you might as well start a party and call yourself the Right Party... oh yeah, that tracks.
― Andrew Farrell, Monday, 30 October 2023 20:51 (five months ago) link
Ms. Kudla: I am getting to that point. It will only take about 10 minutes.Judge Kaplan: Some people don’t have 10 minutes left to live.Ms. Kudla: Fair.
this was my fave moment, so far
― vodkaitamin effrtvescent (calzino), Monday, 30 October 2023 21:05 (five months ago) link
https://pbs.twimg.com/media/F9uGeurWoAAeloT?format=jpg&name=small
― longtime caller, first time listener (man alive), Tuesday, 31 October 2023 01:40 (five months ago) link
a-ha's "take coin me" (1985)
― oatly carmichael (m bison), Tuesday, 31 October 2023 01:53 (five months ago) link
― lag∞n, Tuesday, 31 October 2023 01:54 (five months ago) link
― out-of-print LaserDisc edition (sleeve), Tuesday, 31 October 2023 01:55 (five months ago) link
nice
― 龜, Tuesday, 31 October 2023 01:55 (five months ago) link
well done
― longtime caller, first time listener (man alive), Tuesday, 31 October 2023 02:00 (five months ago) link
That sketch makes him look way handsomer than he really is
― deep wubs and tribral rhythms (Boring, Maryland), Tuesday, 31 October 2023 12:38 (five months ago) link
lol ya think
― longtime caller, first time listener (man alive), Tuesday, 31 October 2023 13:48 (five months ago) link
pretty sure that's not a real court sketch but a delightful parody
the real court sketches are something, one of them truly looks like they're drawing a Twilight Zone character
― ɥɯ ︵ (°□°) (mh), Tuesday, 31 October 2023 15:10 (five months ago) link
so despite having watched 3045709384 eps of law and order 4913984 times each i was faintly startled by the way defence is popping up at every hinge-point in this trial to say "we now move for an acquittal!" -- which the judge then denies. does this always happen in the US? in the hope that the judge by mistake says yes?
i mean i realise there *are* some acquittals at such stages, bcz the prosecution has fully fucked up its case or someone else has confessed or whatever -- but is it defence's job just to try it on anyway, just in case?
― mark s, Tuesday, 31 October 2023 17:09 (five months ago) link
― ɥɯ ︵ (°□°) (mh), Tuesday, October 31, 2023 10:10 AM (two hours ago) bookmarkflaglink
I think there are multiple sketches - I'm not sure there's one official sketch artist so they may all be "real" sketches.
― longtime caller, first time listener (man alive), Tuesday, 31 October 2023 17:16 (five months ago) link
Pretty much. The defense attorney has to ask for it to preserve the issue for appeal, but it is rarely granted.
― il lavoro mi rovina la giornata (PBKR), Tuesday, 31 October 2023 17:18 (five months ago) link
lol why has dick wolf lied to me (by omission)?!?
― mark s, Tuesday, 31 October 2023 17:30 (five months ago) link
jury ready to go home
SAM BANKMAN FRIED IS GUILTY ON ALL COUNTS!!! https://t.co/0CkDs6WzHg pic.twitter.com/c7XdrDV7co— Coffeezilla (@coffeebreak_YT) November 2, 2023
― lag∞n, Thursday, 2 November 2023 23:56 (five months ago) link
they started deliberating this afternoon
― lag∞n, Thursday, 2 November 2023 23:57 (five months ago) link
now that's some effective altruism, amirite?
― out-of-print LaserDisc edition (sleeve), Thursday, 2 November 2023 23:58 (five months ago) link
ayye
― lag∞n, Thursday, 2 November 2023 23:59 (five months ago) link
Probably the first real consequence he’s faced in his entire life
― longtime caller, first time listener (man alive), Friday, 3 November 2023 00:03 (five months ago) link
really getting thrown in the deep end
― lag∞n, Friday, 3 November 2023 00:04 (five months ago) link
lol, what a loser
― il lavoro mi rovina la giornata (PBKR), Friday, 3 November 2023 00:06 (five months ago) link
are they really gonna appeal this?
― out-of-print LaserDisc edition (sleeve), Friday, 3 November 2023 00:06 (five months ago) link
I guess that's not very charitable, but something about this guy makes me hate him.
― il lavoro mi rovina la giornata (PBKR), Friday, 3 November 2023 00:08 (five months ago) link
Must be all the fraud.
hes a bit of a sociopath
― lag∞n, Friday, 3 November 2023 00:10 (five months ago) link
https://x.com/jimcramer/status/1539532374463102980?s=46&t=56pvpJvqL5GRtMdLh4N49g
― frogbs, Friday, 3 November 2023 00:18 (five months ago) link
Most fraudsters have at least one thing in common: they have no apparent sense of shame or remorse.
Goes along with being a sociopath, I reckon.
― immodesty blaise (jimbeaux), Friday, 3 November 2023 00:19 (five months ago) link
I saw a guy being interviewed who had been an early sceptic of this enterprise and had gone after SBF early and warned people it was a grift. Not a pleasant person himself, a charmless, grizzled veteran market speculator from the 80's who says fuck every 2nd word. The funny bit was when he explained his original misgivings "nothing about this checked out ... also I hated the stupid little fuck"
― vodkaitamin effrtvescent (calzino), Friday, 3 November 2023 00:36 (five months ago) link
lol cant argue with it
― lag∞n, Friday, 3 November 2023 00:52 (five months ago) link
RIP big man
― k3vin k., Friday, 3 November 2023 01:23 (five months ago) link
I mean, all of crypto is a big grift, so on some level this was a fraud of frauds.
― longtime caller, first time listener (man alive), Friday, 3 November 2023 01:32 (five months ago) link
absolutely dire
POV: You bought an expensive JPEG and flight to Hong Kong to attend a festival and almost lose your eye sight. Yuga never disappoints. pic.twitter.com/Ob3Ry4OApW— YallahHabibi 🦭 (@YallahHabibiBTC) November 5, 2023
― lag∞n, Monday, 6 November 2023 04:10 (five months ago) link
lol, sounded like a spellblinding event. I don't really understand how someone in the chain of the festival organisation up to the event manager wouldn't be piping up + saying hmm perhaps it's not a great idea and actually extremely dangerous to blast a crowd of people with cornea burning UV light.
― vodkaitamin effrtvescent (calzino), Monday, 6 November 2023 05:46 (five months ago) link
in related news I started using hyabak eye drops every morning, which are good for anyone who does too much screentime. It doesn't protect from direct exposure to UV though!
― vodkaitamin effrtvescent (calzino), Monday, 6 November 2023 07:10 (five months ago) link
halfway down the quick photokeratitis thread it says "think snowblindness" -- which is correct (snowblindness is indeed caused an excess of UV light) but also a trillion times too cool for these shut-in clowns
― mark s, Monday, 6 November 2023 08:59 (five months ago) link
yes, I was listening someone talking about UV sterilisers and mentioning that if you are dumb enough to shine one into yr own eyes it could cause permanent cornea damage at worst or at least temporary "snowblindness"
― vodkaitamin effrtvescent (calzino), Monday, 6 November 2023 13:03 (five months ago) link
I don't really understand how someone in the chain of the festival organisation up to the event manager wouldn't be piping up + saying hmm perhaps it's not a great idea and actually extremely dangerous to blast a crowd of people with cornea burning UV light.
― vodkaitamin effrtvescent (calzino), Monday, November 6, 2023 12:46 AM (six hours ago) bookmarkflaglink
presumably someone bought the lights and didnt realize they were the bad kind, same thing happened at a hypebeast event a while ago, also in hong kong https://hongkongfp.com/2017/10/26/partygoers-left-burns-light-sensitivity-hypebeast-event-landmark
― lag∞n, Monday, 6 November 2023 13:34 (five months ago) link
According to Philip’s website, it emits 12.0 W of UV-C radiation and is mainly used for disinfection purposes.
bruh
― 龜, Monday, 6 November 2023 13:44 (five months ago) link
i thought about buying a uv-c light once to stick inside a leather boot that had a moldy smell. never occurred to me to use one as a vibe light
seems very appropriate that this happens in hong kong, bastion of unregulated, free-market capitalism where nothing is unavailable for purchase to the general public, not even cancer-causing skin burning UV-C bulbs
― 龜, Monday, 6 November 2023 13:50 (five months ago) link
going to also put my response in the “bruh” columnUV-C wtf
― ɥɯ ︵ (°□°) (mh), Monday, 6 November 2023 13:59 (five months ago) link
https://i.postimg.cc/ZR55wqNV/Screenshot-20231106-172742.jpg
― the world is your octopus (Camaraderie at Arms Length), Monday, 6 November 2023 17:28 (five months ago) link
honestly feel bad for these doofuses hope none of them have permanent damage, if they dont then its funny
― lag∞n, Monday, 6 November 2023 17:30 (five months ago) link
look how shitty this is lol
not a single woman in sight at the bored ape fest pic.twitter.com/tVSUv6VSAr— kate bush's husband (@airbagged) November 6, 2023
― lag∞n, Monday, 6 November 2023 17:31 (five months ago) link
tbf i think i see two women in the video
― lag∞n, Monday, 6 November 2023 17:36 (five months ago) link
more energy there than at that Bored Ape event with LCD Soundsystem last year
― peace, man, Monday, 6 November 2023 18:33 (five months ago) link
When I say I want to see these guys get burned by the lack of regulations I don’t mean that literally
― frogbs, Tuesday, 7 November 2023 18:40 (five months ago) link
rip CZ
― 龜, Tuesday, 21 November 2023 18:37 (five months ago) link
i will also pay $4.3 billion in fines
― mark s, Tuesday, 21 November 2023 18:43 (five months ago) link
finally, mark s admits his crimes
― ɥɯ ︵ (°□°) (mh), Tuesday, 21 November 2023 18:48 (five months ago) link
only the little ones
― mark s, Tuesday, 21 November 2023 18:55 (five months ago) link
Extra toppings at the DOJ pizza party this year
― longtime caller, first time listener (man alive), Tuesday, 21 November 2023 19:38 (five months ago) link
“Binance” just feels like a pun a bisexual banker would make.
― deep wubs and tribral rhythms (Boring, Maryland), Tuesday, 21 November 2023 19:59 (five months ago) link
― lag∞n, Tuesday, 21 November 2023 21:58 (five months ago) link
I'm a Bisexual Binvestment Banker from Binancesylvania
― longtime caller, first time listener (man alive), Wednesday, 22 November 2023 04:10 (five months ago) link
everyone these days, they’re bi. bi-sexual or bi-tcoin
― ɥɯ ︵ (°□°) (mh), Wednesday, 22 November 2023 13:59 (five months ago) link
trinance: https://c.ndtvimg.com/2019-04/jq0otaso_fancy-winnie-the-pooh-pooh-memes_625x300_09_April_19.jpg
― mark s, Wednesday, 22 November 2023 14:04 (five months ago) link
all my apes gone
A massive theft appears to be happening right now --- all these NFTs have been stolen from wallets... some of the absolute top tier apes. pic.twitter.com/fHPqTT8Vqg— NFTstats.eth (@punk9059) December 16, 2023
― lag∞n, Saturday, 16 December 2023 17:21 (four months ago) link
the worst part? they are absolutely top tier apes
― Blues Guitar Solo Heatmap (Free Download) (upper mississippi sh@kedown), Saturday, 16 December 2023 17:30 (four months ago) link
were not talking about your everyday apes here just to be clear
― lag∞n, Saturday, 16 December 2023 17:31 (four months ago) link
top notch apes get the most not the lesser
― polyamerie "it's more than this 1 thing" (m bison), Saturday, 16 December 2023 18:03 (four months ago) link
"It's hard to put to words how devastating this is."
― groovypanda, Saturday, 16 December 2023 20:53 (four months ago) link
maybe instead of words they can convert it to nfts
― beard papa, Sunday, 17 December 2023 01:05 (four months ago) link
https://i.imgur.com/qAZ8FTs.png
― z_tbd, Sunday, 17 December 2023 16:04 (four months ago) link
pump time bb, just gotta find someone to dump on now
― lag∞n, Sunday, 17 December 2023 16:12 (four months ago) link
https://arstechnica.com/science/2024/02/over-2-percent-of-the-uss-electricity-generation-now-goes-to-bitcoin/
― z_tbd, Friday, 2 February 2024 19:24 (two months ago) link
they should stop that no one even likes the coins anymore if they ever did
― lag∞n, Friday, 2 February 2024 19:30 (two months ago) link
This new SBF album goes hard pic.twitter.com/D06hjBysuA— MelloProto (@MelloTheProto) February 20, 2024
― Beyond Goo and Evol (President Keyes), Tuesday, 20 February 2024 18:44 (two months ago) link
ha a#z bribed kickstarter into going blockchain with predictable results https://archive.ph/UZv4s
― lag∞n, Monday, 11 March 2024 16:24 (one month ago) link
am i being dim or is it nowhere explained in this article what actual specific benefits the blockchain was intended to deliver?
― mark s, Monday, 11 March 2024 16:51 (one month ago) link
allowing people to make their own kickstarter inside kickstarter? i mean its crypto it doesnt have any benefits
Users, meanwhile, would be able to create mini platforms of their own around niche interests like anime, bringing in more people and splitting any profits with Kickstarter. This structure, which would echo other initiatives like Farcaster, did not require donors to pay with cryptocurrencies but would entail Kickstarter’s creating an entirely new, open-source version of its existing software that would be built on top of a blockchain that had never been tested by a massive consumer application.
― lag∞n, Monday, 11 March 2024 16:54 (one month ago) link
the benefit of blockchain was they were getting $100M
― ɥɯ ︵ (°□°) (mh), Monday, 11 March 2024 17:03 (one month ago) link
"Be it so," I said, replacing the tool beneath the cloak and again offering him my arm. He leaned upon it heavily. We continued our route in search of the Blockchain. We passed through a range of low arches, descended, passed on, and descending again, arrived at a deep crypt, in which the foulness of the air caused our flambeaux rather to glow than flame.
― mark s, Monday, 11 March 2024 17:10 (one month ago) link
why is a 15-year-old company called a "startup"?
― from a prominent family of bassoon players (Boring, Maryland), Monday, 11 March 2024 17:14 (one month ago) link
― ɥɯ ︵ (°□°) (mh), Monday, March 11, 2024 1:03 PM (thirty-two minutes ago) bookmarkflaglink
interesting they were buying out shareholders rather than investing in the company, also the deal wasnt contingent on kickstarter actually doing the blockchain stuff, effectively they were just acquiring shares and recommending crypto
― lag∞n, Monday, 11 March 2024 17:38 (one month ago) link
wonder if they got rid of the old ceo cause they needed a new one to tell andereeson they werent doing blockchain
― lag∞n, Monday, 11 March 2024 18:06 (one month ago) link
he is kind of imposing
― ɥɯ ︵ (°□°) (mh), Monday, 11 March 2024 18:40 (one month ago) link
Sam Bankman-Fried being sentenced today, time to place your bets on how long he gets
― ( X '____' )/ (zappi), Thursday, 28 March 2024 08:28 (three weeks ago) link
25 years
― lag∞n, Thursday, 28 March 2024 16:02 (three weeks ago) link
https://x.com/innercitypress/status/1773356442629574987This is such a concise version of the "he's just an adorable boy" story they kept trying to sell. Such a weird element.SBF's statement was infuriating word salad. Right after an FTX customer/victim mentioned other victims committing suicide you have SBF saying "I agree with most of what Sunil said ... what matters are my colleagues." My COLLEAGUES?!?!?
― default damager (lukas), Thursday, 28 March 2024 16:35 (three weeks ago) link
honor amongst thieves
― lag∞n, Thursday, 28 March 2024 16:48 (three weeks ago) link
I don't know why I hate this guy so much. Maybe it's the hair.
― il lavoro mi rovina la giornata (PBKR), Thursday, 28 March 2024 17:13 (three weeks ago) link
something that bothers me is people just dumped all this money on him calling him a generational genius then you hear him talk and hes all yeah so uh you put money in the program then uuhh so its a ponzi scheme and more money comes out, hes keeping spreadsheets called crimes go in here, just not even good at scamming, but silicon valley rolled the red carpet out for him, shameful, media repeating all his blatant bs about trying to save the world, i want to see a master manipulator at work not this privileged dweeb
― lag∞n, Thursday, 28 March 2024 17:21 (three weeks ago) link
there's probably an argument to be made for a smart but socially tone deaf kid getting way in over his head and cutting corners in ways he didn't know were illegal and committing major errors which he didn't know how to dig out of but that really doesn't seem to be the case here
― frogbs, Thursday, 28 March 2024 17:24 (three weeks ago) link
he repeated the lie today about how ftx couldve survived if there wasnt a run on deposits which was just not true, i wonder if he believes it, seems like vcs giving him all that money went to his head, when the story first broke his plan was to go to congress and persuade them that everything was cool, he considered himself the best salesman in the world, lol
― lag∞n, Thursday, 28 March 2024 17:25 (three weeks ago) link
that really doesn't seem to be the case here
― frogbs, Thursday, March 28, 2024 1:24 PM (fifty-eight seconds ago) bookmarkflaglink
yeah theres tons of evidence he was knowingly doing fraud the entire time, i mean maybe he thought it was ok because hes a crypto guy so laws dont apply idk, pretty dumb if so
― lag∞n, Thursday, 28 March 2024 17:27 (three weeks ago) link
He just seems like a sociopath who developed a schtick that was close enough to his "real" self that it kind of fooled some people for a while. Although my theory is that low interest rates are kind of like booze, and the lower they are and the longer they last, the lower the bar gets for hot. Like the guy came off as a buffoon, and the narrative seemed to be "he comes off as a buffoon which proves he is a genius." It was all kind of thin to begin with.
― longtime caller, first time listener (man alive), Thursday, 28 March 2024 18:00 (three weeks ago) link
yeah if you have a fund you have to invest the money somewhere and crypto was hot so why not say the guy is a genius, but i do think due to various incentives a lot of people believed it, they considered themselves geniuses too no doubt tho
― lag∞n, Thursday, 28 March 2024 18:03 (three weeks ago) link
As someone who has to regularly read a lot of investment banker research/analyst reports, I often find myself wondering to what extent people in their world are bullshitting themselves versus just others.
― longtime caller, first time listener (man alive), Thursday, 28 March 2024 18:12 (three weeks ago) link
Like there's a thin line between actually believing the story and just believing it's a story you can sell to other people. And there's an incentive to at least believe that you believe the story.
― longtime caller, first time listener (man alive), Thursday, 28 March 2024 18:13 (three weeks ago) link
yeah believing things is pretty easy if it benefits you, and they say theres no one easier to sell than a salesperson
― lag∞n, Thursday, 28 March 2024 18:17 (three weeks ago) link
in the end it doesn’t matter tho, because the guy will get off with a relatively light prison sentence and then inherit all of mommy and daddy’s money. hope he gets shanked
― butt dumb tight my boners got boners (the table is the table), Thursday, 28 March 2024 18:18 (three weeks ago) link
they spent most of their money on his quixotic defense
― G. D’Arcy Cheesewright (silby), Thursday, 28 March 2024 18:22 (three weeks ago) link
I mean so they claimed in a soft-touch profile anyway, I'm sure they've got something
he got 25 years and some people are saying its light but thats big chunk of even the longest life, and you have to serve at least 85% of yr time in the feds so its not like hell get out in 12 or whatever, things arent going that good for him
― lag∞n, Thursday, 28 March 2024 18:34 (three weeks ago) link
12 is a very long time, being in jail for a month sucks from what ive heard, were somewhat injured to all these numbers due to living in a police state but being incarcerated is not too great
― lag∞n, Thursday, 28 March 2024 18:40 (three weeks ago) link
yeah it definitely sucks for him. like imagine being in jail since 1999
― frogbs, Thursday, 28 March 2024 18:42 (three weeks ago) link
caek posted in the other thread theres a recentish law that allows non violent federal offenders to serve as little as 50% of their sentences depending on circumstances fwiw 85% is somewhat out of date
― lag∞n, Thursday, 28 March 2024 18:46 (three weeks ago) link
― frogbs, Thursday, 28 March 2024 18:42 (twenty-two minutes ago) bookmarkflaglink
new board slogan
― mark s, Thursday, 28 March 2024 19:06 (three weeks ago) link