bit¢oin$

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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

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, December 2, 2013 5:54 PM (seven years ago) bookmarkflaglink

yes

― lag∞n, Monday, December 2, 2013 5:56 PM (seven years ago) bookmarkflaglink

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, December 2, 2013 6:01 PM (seven years ago) bookmarkflaglink

oh also "it's going to disrupt banking"

― 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

Canon in Deez (silby), Monday, 1 March 2021 17:46 (three years ago) link

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'm sure some database programmers convert money earned with Postrges into drugs

I feel seen.

Elvis Telecom, Wednesday, 3 March 2021 01:30 (three years ago) link

two weeks pass...

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

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

longtime caller, first time listener (man alive), Thursday, 18 March 2021 17:56 (three years ago) link

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

Zach_TBD (Karl Malone), Thursday, 18 March 2021 18:21 (three years ago) link

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) 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 (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

one month passes...

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 (three 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 (three 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 (three 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 (three 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 (three years ago) link

who is the mystery crypto ilxor out yourself

lag∞n, Thursday, 6 May 2021 18:07 (three years ago) link

🤑

Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:09 (three 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 (three years ago) link

maaaaaaaaaaaaaaaaaaaaaaaap

Zach_TBD (Karl Malone), Thursday, 6 May 2021 18:28 (three years ago) link

damn sorry to report matt has been canceled

lag∞n, Thursday, 6 May 2021 18:42 (three years ago) link

wait

class project pat (m bison), Thursday, 6 May 2021 18:49 (three 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 (three years ago) link

cancel me dammit

John Cooper of Christian rock band Skillet (map), Thursday, 6 May 2021 23:01 (three years ago) link

these are the dumbest people alive

https://i.postimg.cc/gJQSFDTS/image.png

, Saturday, 8 May 2021 04:54 (three 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 (three 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 (three 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 (three 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 (three years ago) link

80085 (BOOBs)

, Saturday, 8 May 2021 14:41 (three years ago) link

*yelling* BOOB
*whispering* s

lag∞n, Saturday, 8 May 2021 14:47 (three 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

lag∞n, Saturday, 8 May 2021 14:47 (three years ago) link

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 (three years ago) link

you should buy a dog with it

lag∞n, Saturday, 8 May 2021 15:10 (three years ago) link

How much will it increase in value

Feta Van Cheese (Neanderthal), Saturday, 8 May 2021 15:44 (three years ago) link

has to be a coin dog

class project pat (m bison), Saturday, 8 May 2021 16:03 (three years ago) link

the rest are all depreciating assets (everyday closer 2 death)

class project pat (m bison), Saturday, 8 May 2021 16:03 (three years ago) link

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 (three years ago) link


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