bit¢oin$

i prob have some details of that wrong maybe everyone who has bitcoins got bitcoin cash idk

That doesn't make any sense to me and I'm guessing that's because it doesn't make any sense.

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

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

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'.

how tf was that not 0-2

Bitcoin cash has settles faster than bitcoin proper. But transactions are still instantaneous.

rong thread

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, 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

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*

satochi unmasked

Yes. I AM the inventor of the bit coin.

— ErykahBadoula (@fatbellybella) December 23, 2017

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

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

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

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

"old stuff is boring" is one of the Three Programmer Diseases, I forget the other two

yea Blockchain seems like the textbook solution in search of a problem

1. you cant make a chain out of blocks
2.programmers plz learn abt stuff

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

biomed was big in 1998 i think?

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

its basically the google glass of data storage schemes

The tulips of distributed hash tables

Like ppl already make lots of money off data structures it’s called AWS

tbh i do find one thing abt it compelling: crime, especially as technology facilitates more more the global surveillance state

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

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

imo the blockchain is good because data can’t be removed, but the mechanism is horrible

everything can be deleted --game of thrones

Head of Exmo has been kidnapped:

https://www.bbc.com/news/amp/business-42505261

The reports said he was dragged into a black Mercedes-Benz by men wearing balaclavas.

hell yea

Yr man was released after paying $1m in Bitcoins as a ransom. Shame the police can’t trace them now, eh?

https://www.cnbc.com/2018/01/02/ceo-of-soaring-blockchain-stock-sells-about-870000-worth-of-the-shares.html

looooool

salute lol

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

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.

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

A co worker bought ripple at 16 cents and now its fucking $2.70

That’s a 1600% gain in two months or so
But 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

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

bitcoin is the cia do yr research

I’m hearing from a few people with bitcoins (yes, plural) and other cryptocurrencies that mining is no longer where the money is

The article seems to be conflating mining cryptcurrencies with all cryptocurrencies

Tempted to either:

1. Buy a tonne of different cheap cryptoc and risk gaining/losing a bit with whichever increases/decreases in value

2. Buy ethereum

3. Buy ripple

Just imagine the run when this shit is revealed to be nothing.

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.

Eth is so ‘16

Sorry for bumping though
This thread deserves to die

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

Ok except is Vegas is leagues more fun than this shit