brb gonna turn all my liquid cash into copies of youngblood #1
― dipso inferno (bizarro gazzara), Friday, 22 December 2017 19:53 (six years ago) link
That equilibrium price is coming any day now
― IF (Terrorist) Yes, Explain (man alive), Friday, 22 December 2017 20:02 (six years ago) link
this polybagged limited edition Plasm variant is gonna put my kid through collegeand the princess diana beanie baby is for retirement
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Friday, 22 December 2017 20:02 (six years ago) link
Helpful info from a website I stumbled across:
Unlike other forms of money like paper currency or metals, bitcoins derive their value from mathematics rather than physical properties.
Yes. A twenty dollar bill obviously derives its value from its physical properties, which vary greatly from the physical properties of, for example, hundred dollar bills and five dollar bills.
― A is for (Aimless), Saturday, 23 December 2017 05:10 (six years ago) link
Turns out that I have .0001 BTC left, worth $2.05. Guess I'll let it sit in Coinbase until these are worth a billion each.
― louise ck (milo z), Saturday, 23 December 2017 05:17 (six years ago) link
I decided to risk it and re-added on Friday morning some GBTC that I had sold. Will see what happens Tues. But so far looking good. I don't know if they tanked it so they could run it back up over the long weekend when people are unlikely to trade.
― Yerac, Saturday, 23 December 2017 17:08 (six years ago) link
Dogecoin seems to be doing great
― JoeStork, Saturday, 23 December 2017 17:15 (six years ago) link
Bubbles are always compelling, because real coin is being made in a big hurry. Until it's being lost even faster.
― A is for (Aimless), Saturday, 23 December 2017 18:04 (six years ago) link
i was thinking of buying some if it drops below 10k then a friend suggested i just started mining them. this is how he started, with a combo of buying and mining. unfortunately i didn't get the name of his miner setup.
is there a legit mining program you can download that mines crypto currency using your computer while you are sleeping/at work? something that works w Windows 10 prefereably...
― AdamVania (Adam Bruneau), Wednesday, 27 December 2017 19:58 (six years ago) link
why not start leaving your fridge door open at all times and burning tyres in your back yard too
― h.p. minecraft (bizarro gazzara), Wednesday, 27 December 2017 20:02 (six years ago) link
your mining operation is completely irrelevant in the face of the botnets made of hundreds of thousands of phones, and massive overclocked coin farms in the west bumfuck parts of the PRC
― El Tomboto, Wednesday, 27 December 2017 20:06 (six years ago) link
iow bizarro otm as usual
― El Tomboto, Wednesday, 27 December 2017 20:08 (six years ago) link
anyone with a real answer?
― AdamVania (Adam Bruneau), Wednesday, 27 December 2017 20:40 (six years ago) link
those are real answers
― sleeve, Wednesday, 27 December 2017 20:42 (six years ago) link
fwiw i don't care if i made like a fraction of a bitcoin i have no aims to have my computer competing with a overseas bitcoin mining farm operation
― AdamVania (Adam Bruneau), Wednesday, 27 December 2017 20:42 (six years ago) link
Ya I think I'll mine some bitcoin too any tips
― remember the lmao (darraghmac), Wednesday, 27 December 2017 20:43 (six years ago) link
Are there places it's better to mine like the Ukraine or Texas or is it not like that
don't you wind up paying like 10x more in electricity than what you'd make from mining at this point
― frogbs, Wednesday, 27 December 2017 20:47 (six years ago) link
buy ripple
some are speculating that banks are betting on it so youll see massive growth and it is relatively cheap at the moment and doesnt require mining
― infinity (∞), Wednesday, 27 December 2017 20:49 (six years ago) link
Production of bank notes costs more than the worth of the raw materials guys but fiat currencies still work somehow cmon
― remember the lmao (darraghmac), Wednesday, 27 December 2017 20:50 (six years ago) link
just do it and stfu
by end of 2018 youll be thinking gee remember that guy 'infinity' or something on the ilxor.com forum? its like he came from the future w the grays sports almanac and told me every winning move in fintech for the year
*cue huey lewis and the news' back in time*
― infinity (∞), Wednesday, 27 December 2017 20:53 (six years ago) link
=(
https://www.washingtonpost.com/business/technology/bitcoins-boom-is-a-boon-for-extremist-groups/2017/12/26/9ca9c124-e59b-11e7-833f-155031558ff4_story.html?utm_term=.8be8269372e0
Those who began acquiring bitcoin in August already have reaped substantial returns, despite the recent volatility in its price. In the months since demonstrators carried flaming torches and chanted “Jews will not replace us,” bitcoin has quadrupled in value. The digital currency began trading on several mainstream financial markets this month, pushing the price of a single bitcoin at times above $19,000. It was worth $16,000 at one point Tuesday.
Extremist figures who invested in bitcoin as a bulwark against efforts to block their political activity now find themselves holding what amount to winning lottery tickets. The proceeds could be used to communicate political messages, organize events and keep websites online even as most mainstream hosting services shun them, experts say.
― officer sonny bonds, lytton pd (mayor jingleberries), Wednesday, 27 December 2017 20:55 (six years ago) link
I still refuse to believe that there's that much *actual* money in this. Some people are getting rich no doubt but that money isn't just being created out of thin air, as much as it seems like it is at this point
― frogbs, Wednesday, 27 December 2017 20:57 (six years ago) link
W
What
― remember the lmao (darraghmac), Wednesday, 27 December 2017 21:01 (six years ago) link
i don't really know anything about cryptocurrency, but am i correct in thinking that 1) if it became more commonly used, it would essentially represent a merging of the use of money for investing and the use of money for day-to-day transactions, and 2) this merging would lead to even worse income inequality, assuming anything resembling the recent price volatility continues to play out?
― Karl Malone, Wednesday, 27 December 2017 21:04 (six years ago) link
Lol @ setting up as a mom n pop bitcoin miner this deep in the game tbh. Wherever the blockchain/cryptocurrency train is headed, pretty sure that's not a good use of your time + effort
― But doctor, I am Camille Paglia (Bananaman Begins), Wednesday, 27 December 2017 21:46 (six years ago) link
This idea, this idea with math and computers to print money, is definitely worth something - it has the backing of narcotics smugglers, neo-nazis and collapsing caliphates, so it’s as good as bonds, except you can also get rich quick. BUY NOW AND SAVE.
― El Tomboto, Wednesday, 27 December 2017 21:53 (six years ago) link
represent a merging of the use of money for investing and the use of money for day-to-day transactions
You can speculate in currency markets already. It's just that the dollar, yen or euro do not have anywhere near the volatility of bitcoins, and the regular currency markets are so large and directly tied to the real economy that they are difficult to manipulate.
Bitcoins and other cryptocurrencies have no known relationship to the real economy aside from their use by underground or black market economies, due to their difficulty for governments to trace or block. They also have lured in a lot of amateur speculators looking for a big, quick killing, who will easily be fleeced by the big players in the market.
― A is for (Aimless), Wednesday, 27 December 2017 21:55 (six years ago) link
from what I understand you need a massive amount of capital to profit off of regular currency exchanges because the changes are pretty minimal in the grand scheme of things
― officer sonny bonds, lytton pd (mayor jingleberries), Wednesday, 27 December 2017 21:58 (six years ago) link
the other problem with that hypothetical is that Bitcoin fundamentally does not scale. if people started actually using it like Paypal the network would slow to a crawl. it's accepted in far less places now than it was during the first "boom". I have no clue what's causing the price to spike so dramatically right now.
― frogbs, Wednesday, 27 December 2017 21:59 (six years ago) link
who will trade me an amount of bit coins for my 1991 FLEER brand darryl strawberry baseball-style card
― del griffith, Wednesday, 27 December 2017 22:06 (six years ago) link
the top of daryl's bat has those atomic energy ring things on it, like it's drawn onto the bat, look's real cool
― del griffith, Wednesday, 27 December 2017 22:08 (six years ago) link
yesterday afternoon i got the Windows 10 Bitcoin Miner app from the Microsoft store and left it running overnight. now the proud owner of $.07 worth of digital currency!
― AdamVania (Adam Bruneau), Thursday, 28 December 2017 16:26 (six years ago) link
Is ironic bitcoin mining a thing now
― But doctor, I am Camille Paglia (Bananaman Begins), Thursday, 28 December 2017 16:58 (six years ago) link
If they made a candy crush like game that mined bitcoins...
― Yerac, Thursday, 28 December 2017 19:31 (six years ago) link
I thought there were a few. In order to capture the true BTC experience they actually wound up mining into someone else's wallet.
― frogbs, Thursday, 28 December 2017 19:37 (six years ago) link
http://phylo.cs.mcgill.ca/
― Chocolate-covered gummy bears? Not ruling those lil' guys out. (ulysses), Thursday, 28 December 2017 19:43 (six years ago) link
― Bitcoin Baja (wins), Friday, 29 December 2017 13:00 (six years ago) link
I think some people mine other crypto-coins of more recent vintage, where the system requirements to be competitive are not so stringent, and then exchange them for Bitcoin.
― o. nate, Friday, 29 December 2017 14:05 (six years ago) link
https://video-images.vice.com/_uncategorized/1502303450256-GCOINCOMPARE.jpeg
― mark s, Tuesday, 2 January 2018 11:54 (six years ago) link
Wait'll you see the wallets...
― nickn, Tuesday, 2 January 2018 18:13 (six years ago) link
I won't stand for this
https://www.cnbc.com/2018/01/09/kodak-joins-cryptocraze-with-digital-photo-licensing-site.html
― Dean of the University (Latham Green), Tuesday, 9 January 2018 19:52 (six years ago) link
well well well
https://www.wsj.com/articles/moneygram-signs-deal-to-work-with-currency-startup-ripple-1515679285
― infinity (∞), Thursday, 11 January 2018 16:33 (six years ago) link
if FB releases a cryptocoin it would KILL YOUR MONEY
http://www.bluefat.com/1108/hm1.jpg
― Ludo, Thursday, 11 January 2018 18:43 (six years ago) link
The group’s name is Kasotsuka Shojo, which translates as Virtual Currency Girls. Each one of the eight members represents a different cryptocurrency, including Bitcoin, Ethereum, Ripple, and Cardano. The women are outfitted in maid dresses and lucha libre-style masks that denote the currency they represent.Kasotsuka Shojo’s debut single is called “The Moon and Virtual Currencies and Me” and is a blistering electro-pop song that warns listeners to be aware of fraud and to maintain their security online.The group takes payment for concert tickets, merchandise, and other products through — what else? — cryptocurrencies including bitcoin and ethereum.
Kasotsuka Shojo’s debut single is called “The Moon and Virtual Currencies and Me” and is a blistering electro-pop song that warns listeners to be aware of fraud and to maintain their security online.
The group takes payment for concert tickets, merchandise, and other products through — what else? — cryptocurrencies including bitcoin and ethereum.
https://www.theverge.com/2018/1/12/16882378/japan-jpop-band-virtual-currency-girls-kasotsuka-shojo-cryptocurrency
― ( X '____' )/ (zappi), Friday, 12 January 2018 13:33 (six years ago) link
which poor lady has to be Dogecoin
― frogbs, Friday, 12 January 2018 15:02 (six years ago) link
doggycoin
https://motherboard.vice.com/en_us/article/9kng57/dogecoin-my-joke-cryptocurrency-hit-2-billion-jackson-palmer-opinion
in other news papas makin ripples kids
🌊😍
― infinity (∞), Friday, 12 January 2018 17:53 (six years ago) link
also it has to be said the amount of leniency california residents get when entering into this entire ecosystem is so crazy it's laughable
― infinity (∞), Friday, 12 January 2018 17:54 (six years ago) link
I have to assume that a huge part of what's "not right here" is that a lot of that "market cap" is a mirage, i.e. there are not actually $700B in assets tied up in cryptocurrency. In the case of Bitcoin and probably other cryptos too, huge amounts are locked away in the hands of a few people or outright lost, and more is being "hedl" by true believers. When trading volume of any asset is low enough, the price can be easily inflated. That's how the stock CRCW reached a multi-billion-dollar market cap with revenue in the hundreds of thousands of dollars per year and a massive net operating loss -- only like 1000 shares a day were trading. Very easy to manipulate the price at that kind of volume.
― IF (Terrorist) Yes, Explain (man alive), Friday, 12 January 2018 19:31 (six years ago) link
There's probably no way to calculate such a thing, but it would be fascinating to know how much money was actually *spent* acquiring the total amount of crypto in existence today, like not the total $ amount of all crypto transactions ever, but the total of all of the dollars spent by current crypto holders on crypto they currently hold. I have to imagine a lot of these crypto startups just give their management/founders huge percentages of their total coin, so that maybe you have a "market cap" of say $100 million with only $5 million in actual money having been spent by public buyers of the currency.
― IF (Terrorist) Yes, Explain (man alive), Friday, 12 January 2018 20:21 (six years ago) link