good domain name for magic the gathering soon to be available
http://www.abugames.com/images/products/magic2014m14/pillarfieldox.jpg
Very fitting text too
― Vinnie, Tuesday, 25 February 2014 17:50 (ten years ago) link
XP: Cryptocoin mining is has brought a worldwide shortage of the high-to-medium range AMD graphics cards for the past 3 months.
AMD graphics card pricing skyrockets due to cryptocurrency mining, could kill AMD’s gaming efforts
A typical setup would be two cards (cost $1400-$3000) drawing 700-1000 watts for the machine.
Pretty much the first time cryptocurrencies have effected me personally (I'm a big fan of Mackey's Extraordinary Popular Delusions and the Madness of Crowds), as AMD has an intriguing API (Mantle) and I'm about to build a new midrange gaming rig.
― disposable soma (Sanpaku), Tuesday, 25 February 2014 18:05 (ten years ago) link
i won like .0045 of a bitcoin but cant get it because i owl ended more to have it sent to a wallet
bitcoinplus
I think someone should invent the Obamacoin
― Brian Eno's Mother (Latham Green), Tuesday, 25 February 2014 19:55 (ten years ago) link
ok so there is a chance that MtGox literally just lost their private key
― frogbs, Thursday, 27 February 2014 21:56 (ten years ago) link
http://money.cnn.com/2014/02/28/investing/mt-gox-bankruptcy/index.html?hpt=hp_t2
this whole thing has been amazing to watch
― Wahaca Flocka Flame (DJP), Friday, 28 February 2014 15:01 (ten years ago) link
def feel p stupid for not getting in on this stealing bitcoins thing early
― lag∞n, Friday, 28 February 2014 15:02 (ten years ago) link
its about time this got the Taiwanese Animation treatment
https://www.youtube.com/watch?v=fVobjVZK6ho&noredirect=1
http://i.imgur.com/JFRz2QV.gif
― frogbs, Friday, 28 February 2014 15:05 (ten years ago) link
Comments on this - http://valleywag.gawker.com/bitcoin-kingpin-admits-everyones-money-is-gone-1533315083 - are pure gold. (As is the line Funny, how these people only want anything to do with the government after they've fucked themselves over into another dimension.) My favorite:
Here's how Bitcoin works - you give your money to a beefy libertarian video game company executive in a foreign country (who speaks damn good Japanese for a Gaijin), he does some bullshit computer razzmataz, you tell all your friends "I'm free of Fiat Money - John Galt Rules!".....and then your money is gone.
― bi-polar uncle (its OK-he's dead) (Phil D.), Friday, 28 February 2014 16:21 (ten years ago) link
OMG the "massive bitcoin boners" part
― james franco tur(oll)ing test (Hurting 2), Friday, 28 February 2014 16:40 (ten years ago) link
speculation!
anyway once you put your money in a bank it seems like its almost the same at a virtual currency - its just numbers in a database
― Brian Eno's Mother (Latham Green), Friday, 28 February 2014 16:55 (ten years ago) link
numbers in a database with FDIC protection
― anonanon, Friday, 28 February 2014 16:57 (ten years ago) link
oh yeah! (slaps forehead as bitcoins dissolve to thin air)
― Brian Eno's Mother (Latham Green), Friday, 28 February 2014 16:58 (ten years ago) link
fiat numbers
― °ㅇ๐ْ ° (gr8080), Friday, 28 February 2014 17:01 (ten years ago) link
disruption, innovation
― lag∞n, Friday, 28 February 2014 19:47 (ten years ago) link
its not much different I guess than the stock market - specualtion
― Brian Eno's Mother (Latham Green), Friday, 28 February 2014 20:55 (ten years ago) link
yeah, but no one is claiming stocks as a new form of currency that will usher in a libertarian utopia
― Wahaca Flocka Flame (DJP), Friday, 28 February 2014 20:58 (ten years ago) link
they should! "Can I buy a ham for three shares of Earthlink?"
YES
― Brian Eno's Mother (Latham Green), Friday, 28 February 2014 20:59 (ten years ago) link
its pretty differnt than stocks
― lag∞n, Friday, 28 February 2014 21:08 (ten years ago) link
xpost xpost - yes the irony is thick "we do not need the government to deal with money" --- "Oh wait - laws prevent crimes"
― Brian Eno's Mother (Latham Green), Friday, 28 February 2014 21:13 (ten years ago) link
seems more like a commodity than stock or currency, with all the speculation, constrained supply, wild spikes in value, like a virtual equivalent to a precious metal like gold
― anonanon, Friday, 28 February 2014 21:22 (ten years ago) link
I mean they even call it bitcoin mining
― anonanon, Friday, 28 February 2014 21:24 (ten years ago) link
its a fiat commodity
― lag∞n, Friday, 28 February 2014 21:28 (ten years ago) link
my other car is a fiat Fiat
― sXe & the banshees (upper mississippi sh@kedown), Friday, 28 February 2014 21:33 (ten years ago) link
Currencies are speculated on too, and occasionally a currency has wide swings in value. Hence, bitcoin is what I call a shitty currency.
― james franco tur(oll)ing test (Hurting 2), Friday, 28 February 2014 21:34 (ten years ago) link
its an IDEA!
― Brian Eno's Mother (Latham Green), Friday, 28 February 2014 21:35 (ten years ago) link
it's a fiscal Esperanto for the digital age!
it's an MMO auction house for IRL!
it's the future!
― sXe & the banshees (upper mississippi sh@kedown), Friday, 28 February 2014 21:38 (ten years ago) link
People with half a brain stopped using Mt.Gox nearly a year ago. We all moved to respectable exchanges such as Coinbase, Bitstamp, and CampBX who strive to be in line with regulators and are run by people who actually understand finance. It's also important for people to understand that Mt.Gox shutting down is about the same as some rural bank in North Dakota shutting down — it hardly affects the value of the currency in which it exchanged. BTC is still hovering arbound $550 and $750 and the blockchain shows there is a buying frenzy going on because, believe it or not, this is considered cheap at the moment.
― joe perry has been dead for years (underrated aerosmith bootlegs I have owned), Friday, 28 February 2014 21:53 (ten years ago) link
http://www.coindesk.com/bank-stops-working-bitcoin-exchange-campbx-regulatory-uncertainty/
― Wahaca Flocka Flame (DJP), Friday, 28 February 2014 21:57 (ten years ago) link
lol
― sleeve, Friday, 28 February 2014 22:11 (ten years ago) link
http://www.theverge.com/2014/2/15/5414610/bitstamp-restores-service-after-targeted-attack
The problems stem from a vulnerability known as "transaction malleability," which refers to an issue that would allow a user to alter transaction details to make it seem as if a transfer failed when it had actually succeeded. This week, Bitcoin core developer Jeff Garzik told The Verge that the issue is more widespread than the team initially realized. "It's mainly a nuisance," he said, "forcing everybody to stop and fix their website software and Bitcoin wallets."
I mean, if I were more cavalier about my spare money I could see throwing some into this just to see what would happen but given that until two weeks ago the whole process could be exploited by spoofing responses, it just feels like a fundamentally bad idea to view this as anything more than a crude gambling opportunity.
― Wahaca Flocka Flame (DJP), Friday, 28 February 2014 22:16 (ten years ago) link
― Kiarostami bag (milo z), Friday, 28 February 2014 22:18 (ten years ago) link
I thought about doing some kind of discount on Magic cards for people who could prove they'd lost money on MTGOX but I decided it would offend the few possible customers who got the joke.
― Kiarostami bag (milo z), Friday, 28 February 2014 22:19 (ten years ago) link
You should have done it anyway!
― Wahaca Flocka Flame (DJP), Friday, 28 February 2014 22:25 (ten years ago) link
Can't even remotely relate bitcoins to stocks. I mean, stocks represent something tangible, defined, and regulated, like say a tiny percentage of the market cap of General Electric, a 100+ year old company that has consistently made profits. Bitcoins represent a "currency" that a vast majority of merchants won't accept, whose value fluctuates wildly on a whim, that is not backed by anything considered valuable, that is still growing in supply daily by random ppl willing to burn up gabs of electricity with overworked computers, that you could lose if your hard drive crashes.
― Lee626, Friday, 28 February 2014 22:34 (ten years ago) link
this is a dumb question - but how is a bitcoin created? is there like a company that makes a bitcoin and puts it into circulation? or is the total number of bitcoins regulated?
― sXe & the banshees (upper mississippi sh@kedown), Friday, 28 February 2014 22:53 (ten years ago) link
its decentralized, theres a formula that controls their creation (they call the process mining lol), basically you run the mining program and then after a while u get some coins, you are m/l spending computer cycles on bitcoins, the more that are mined the more computer power it takes to mine new ones until eventually no more can be mined
― lag∞n, Friday, 28 February 2014 23:01 (ten years ago) link
the formula was written by an anonymous creator(s) and released into the wild now its just computers talking to computers
― lag∞n, Friday, 28 February 2014 23:02 (ten years ago) link
I thought the whole point of bitcoins was to be able to buy drugs on the silk road
― panettone for the painfully alone (mayor jingleberries), Friday, 28 February 2014 23:18 (ten years ago) link
if only
― lag∞n, Friday, 28 February 2014 23:19 (ten years ago) link
http://upload.wikimedia.org/wikipedia/en/5/50/NES_Super_Mario_Bros.png
― james franco tur(oll)ing test (Hurting 2), Saturday, 1 March 2014 03:05 (ten years ago) link
Yes, the total number is predetermined though -- not "regulated" but built into the design
― james franco tur(oll)ing test (Hurting 2), Saturday, 1 March 2014 03:06 (ten years ago) link
They come in a can, we're put there by a man, in a factory downtown
― Quinoa Phoenix (latebloomer), Saturday, 1 March 2014 03:19 (ten years ago) link
es, the total number is predetermined though -- not "regulated" but built into the design
― james franco tur(oll)ing test (Hurting 2), Friday, February 28, 2014 10:06 PM (1 hour ago) Bookmark Flag Post Permalink
It's this aspect that makes the whole thing feel like a giant pyramid scheme to me. Those who first developed bitcoins or got in early could load up on the things for cheap, as the computer processing power and time to mine one was relatively small in the beginning. But anyone who wants bitcoins now must either pay a fortune on a real-money exchange or mine a new one, which now takes a roomful of powerful computers, air conditioning, and heat sinks.
In any case I'll start calling bitcoins "currency" only when the local grocery store, my dentist, the insurance company et al. atart accepting them as payment. Until then bitcoins are an overhyped (very) speculative investment, valuable only because lots of people currently value them. I suppose most of the Bitcoin crowd are too young to remember tulip leaves or beanie babies....
― Lee626, Saturday, 1 March 2014 05:00 (ten years ago) link
I don't really think tulips or beanie babies are a good analogy for whatever bitcoin is. Tulips and Beanie Babies never had any theory behind them beyond "this will be worth more tomorrow than it is today." Bitcoin is a really elaborate and clever, if highly flawed, experiment in virtual money. Yes, it's also being bought as a speculative item, but not everything speculated on is automatically the equivalent of Beanie Babies, which literally served no conceivable purpose.
― james franco tur(oll)ing test (Hurting 2), Saturday, 1 March 2014 05:14 (ten years ago) link
I also don't really understand how "pyramid scheme" works as a metaphor.
― james franco tur(oll)ing test (Hurting 2), Saturday, 1 March 2014 05:17 (ten years ago) link
the originators stand to make the most money (top of pyramid), and the suckers at the end (bottom of pyramid)
I'm a little surprised more noise isn't being made about the unsustainable nature of storing every transaction.
― Philip Nunez, Saturday, 1 March 2014 05:28 (ten years ago) link
why is that unsustainable?
― james franco tur(oll)ing test (Hurting 2), Saturday, 1 March 2014 05:40 (ten years ago) link
you can embed information in each transaction, turning the blockchain into a "permanent" distributed database. this has already caused a certain amount of problems by the kind of content people have stored, but it's not hard to anticipate a level of activity that esssentially outstrips the rate of however fast storage costs go down. I can pass fractions of bitcoins between two accounts a ton of times to encode an mp3, for example, abusing the system to be a wildly inefficient music library, forcing everyone to eat that cost.
― Philip Nunez, Saturday, 1 March 2014 06:15 (ten years ago) link
― james franco tur(oll)ing test (Hurting 2), Saturday, March 1, 2014 12:14 AM (2 hours ago) Bookmark Flag Post Permalink
But a digital blockchain has a *purpose*? Yeah, I know all about how part of the virtual-currency push is "let's stop money from being controlled by governments or banks", but the same could be said for tree leaves or stuffed animals if much of civilization deemed them highly valuable and worthy of being used as payment for goods or services.
― Lee626, Saturday, 1 March 2014 07:24 (ten years ago) link
Shitcoins
― sXe & the banshees (upper mississippi sh@kedown), Saturday, 1 March 2014 15:44 (ten years ago) link