@cpierce Just send me 175 assorted batteries and whatever you’ve got in your bank account, and I’ll promptly send you and email confirming that you have an equivalent amount of Dogecoin for lulz.
@cpierce I got 5k of Dogecoin about 4 years ago for lulz. Never thought it would actually be worth something in the future, though certainly no bitcoin.
@gallogj Bummer for him he didn’t quit in December. Then again, it’s hard to call any scenario where you quit your job because you’re suddenly rich a true bummer.
Years ago, some bitcoin competitor gave me ten of their coins. I do not remember what the coins were called or the company or website and can not find it in my email.
So I may or may not have some money in cryptocurrency.
No, but I had a plan to make some beer money off the hype last year. Making one of those “mining apps” where they just watch a ton if ads and you pay them in Bitcoin you buy when they’ve watched enough to cash out. Not many people make it that far so you hardly ever have to pay, and if you do, it’s still less than the ad revenue makes. No actual mining involved.
All the media hype this December makes me regret not making it.
@mike808 I’m sure they will hard fork to quantum-resistant algorithms at the appropriate time. Downside will be larger addresses. Like 2000bit instead of 160bit.
I also suspect that stealing crypto will be one of the first use cases for quantum computers, sort of a canary in the coal mine. I just hope they don’t steal mine before the upgrades take place.
No, and I spend entirely too much time being asked about it because I work in tech. Even more time explaining why the asker’s get-rich-quick scheme (often taken from a clickbait article) will fail spectacularly.
Most frequently get someone who wants to buy time on someone else’s GPU farm in Brazil or eastern Europe, with no real understanding of the computation process.
Not to mention they just heard about bitcoin 5 months ago and lack all perspective on how ‘bubbly’ this sudden price jump looks.
@f00l true. but ‘traceable’ in a certain sense. my mom can ‘trace’ a phone # with surprising accuracy, thanks to Google, nowadays.
But you can’t track your expected relative share of bitcoin (or any crypto) based on leased GPU time/clock cycles unless you properly understand the tech theory behind it. Dead simple to take someone’s cash and divert more than the contracted share to your own wallet in the first place - if the investor has a grok factor of zero, all but the truly scrupulous would have a hard time not taking advantage.
Bitcoin was ruined for its intended purpose when it became target of investment speculation. Perhaps this is the drawback to a decentralized currency.
Whoever is left holding the bitcoin when the bottom drops out is going to be out of a lot of fake money.
@PocketBrain It was further ruined when the annual energy consumption of the miners (they actually process the transactions) is more than the annual energy consumption of the entire country of Denmark.
And hours to clear a transaction (reach consensus across the miners) and post to the ledger/blockchain.
When governments are in on the speculation - to hedge against their own fiat currency, it’s pouring rocket fuel on that dumpster fire.
Whoever is left holding the bitcoin when the bottom drops out is going to be out of a lot of fake money.
Unless you’re holding bitcoin to hedge when your own country’s currency bottom drops out. Any country with weak currency and hyperinflation is almost certainly secretly investing in bitcoin to hedge themselves and stabilize their nations currency.
Not to mention North Korea’s currency with the rest of the world is bitcoin. The higher it goes, the wealthier terrorists are, from doing nothing. The bubble makes them wealthier.
Buying bitcoin and creating demand is funding terrorism. The personal wealth benefits you get are merely profit sharing with terrorists, human traffickers/slavers, drug cartels, and money laundering tax cheat real estate moguls that run crime families or governments, or both.
What traded commodity or currency hasn’t become the target of investor speculation?
Digital currencies are too new to have predictable trajectories as investments or as currencies, Esp since anyone with the skills/resources can ICO a new one at will.
And, of course, various govts will target them and try to mess with them/steal them/corrupt them.
Those Bitcoin zillionaires: from one perspective: it’s a bit early to party, bro. From another: who can tell the future, so party while you can.
Buying bitcoin and creating demand is funding terrorism…
profit sharing with terrorists, human traffickers/slavers, drug cartels, and money laundering tax cheat real estate moguls that run crime families or governments, or both.
@mike808 I remember a couple years ago lime (the fruit, not the stone) prices skyrocketed because mexican cartels took over. There’s very little you can spend money on without making some unsavory people rich.
@f00l It is convenient in that it’s a commodity that can be traded digitally for sure. Bitcoin works, but really isn’t perfect for it since it’s designed to make every transaction public. I’m guessing the big baddies will move to monero if/when it stabilizes.
I suspect the big baddies are already in, to some degree.
Any I suspect the biggest baddies/potential baddies of all are in: various govt militaries and national security organizations and the like, and intelligences services.
I suspect they all intend to corner or crack the various markets to the degree they can, and also to steal what they.
@PocketBrain Yeah, they ought to stop calling it any kind of currency. If you’re afraid to either spend it or accept it for goods, it’s not currency. At least, not currently.
Starting to think @mediocrebot is working as an informant. Asking about my marijuana usage, potential investments. Seems like there was another questionable “poll” lately.
I don’t, but I end up talking about it more than I have any interest in because I’m a programmer. It’s either “tell me how solving math problems creates money? Where does it come from?” or “Is it worth investing in?” (which is the baffling one because I don’t know anything at all about investing in anything at all).
@Pantheist Yeah, the funny thing about using false names with people is that the person you’re trying to play them with shouldn’t actually know the real name of anyone you’re with… that and the name you’re using should definitely not be based on a well known toy.
Actually do. I got interested when GPUs were phasing out and ASICs taking over, and I managed to pick up a couple of cheap ASICs. So I set up a Raspberry Pi with a block erupter (336 Megahashes/sec) and an Antminer U2 (2 gigahash/sec) and set them to mining with a mining pool. Got 3+ bitcents out, then lost 2 bitcents when the pool folded and stole everyone’s balances and I shut it down for a few years. I wish I had found a different pool and kept running instead but who knew?
I switched to Dogecoin using my Macbook Pro’s GPU but gave up after generating about 5400. Too much wear and tear on a laptop.
Last year I picked up an Antminer S3 (433GHash/sec) dirt cheap (before the runup in prices) because of a failed fan; I have boxes of spares so no cost fix. I run it in the garage (noisy!) and it and the restarted RaspPi miner have brought in some more fractional BTC. Its burning the power I saved by switching nearly every bulb in the house to LED. As a side effect it keeps the garage warmer this winter; during summer I had to declock it to prevent overheating).
So I have a modest amount of BTC and Doge that I actually mined. But I’d probably be ahead if I sold the miners; they are getting stupid prices on ebay right now.
I want to get some eventually both to kind of tip my toe in, but also more importantly to kind of support the idea. Just wish it was… I dunno, a little more secure. Just saw that some currency in Japan was hacked and stolen.
Back in the day, I solved an entire block on my graphics card and got 50 bitcoins. They were worth about $1 each – very exciting. Then the “value” exploded and crashed a few times, there was all kinds of hacking and shenanigans, I did a little mining on graphics cards…
If I’d had any money at the time, I might have had the vision to hold them indefinitely and could have theoretically had about a million dollars now. As it happens, I made maybe $1000-2000 profit and the bitcoins are gone now.
It took me a while to get comfortable with that.
At least I learned some of the ways being an amateur day trader doesn’t work.
(edit) … ah shit this is an old thread. It was the spammer’s fault. I didn’t do it!
/giphy hell no
@shahnm Why buy something you can’t keep in the refrigerator?
@brhfl I like my cash like I like my women. Cold and hard…
@brhfl I like my women like I like my batteries. Size D and full of energy…
I don’t trust that stuff at all, but since I’m an idiot I kinda want to buy some Dogecoin for lulz
@cpierce Just send me 175 assorted batteries and whatever you’ve got in your bank account, and I’ll promptly send you and email confirming that you have an equivalent amount of Dogecoin for lulz.
@cpierce "When I jokingly tweeted about “investing in Dogecoin” in late 2013, I never imagined that the tongue-in-cheek cryptocurrency I had just brought into the world would still be around in the year 2018 …"
https://www.google.com/amp/s/motherboard.vice.com/amp/en_us/article/9kng57/dogecoin-my-joke-cryptocurrency-hit-2-billion-jackson-palmer-opinion
@cpierce
Is there any reason you don’t trust them?
@cpierce I got 5k of Dogecoin about 4 years ago for lulz. Never thought it would actually be worth something in the future, though certainly no bitcoin.
@shahnm I only have 174 in my freezer, sorry
@DVDBZN Digital currency backed by nothing but computer wizardry? What’s not to like?
@cpierce
Still better than physical/digital hybrid currency backed by nothing.
True story…coworker just quit because he made millions on bitcoin. He’s been “mining” since 2012…possibly before that.
@gallogj Hope he’s since diversified his portfolio. Cryptocurrencies remind me of dot com stocks of the late-90s/early-00s and all the daytrading.
@gallogj Bummer for him he didn’t quit in December. Then again, it’s hard to call any scenario where you quit your job because you’re suddenly rich a true bummer.
Perhaps I can go into the theft biz, steal from “prison camp nations” who stole what they have.
Where’s the “I don’t have enough regular currency either”
I keep plenty of it in my games closet.
Years ago, some bitcoin competitor gave me ten of their coins. I do not remember what the coins were called or the company or website and can not find it in my email.
So I may or may not have some money in cryptocurrency.
@ponagathos Hmm depending on how long ago you might be rich now.
Sure, in fact I just bought a few for about $12.
@awk Are those Franklin Mint commemoratives? Awesome!
@mike808 Only if “Franklin Mint” is the name of a factory in Guangzhou. Which is totally plausible.
@awk Yum. Chocolate coins!
@Kidsandliz I wish… these are solid metal, so they’ll never truly be “bit” coins.
No love for Litecoin or that tasty tasty Garlicoin?
No, but I had a plan to make some beer money off the hype last year. Making one of those “mining apps” where they just watch a ton if ads and you pay them in Bitcoin you buy when they’ve watched enough to cash out. Not many people make it that far so you hardly ever have to pay, and if you do, it’s still less than the ad revenue makes. No actual mining involved.
All the media hype this December makes me regret not making it.
Quantum processors can unravel Blockchains in hours, maybe minutes.
@hchavers They wont unravel blockchains (the ledgers).
They will crack everyone’s coin wallets.
All of them. And any replacements.
@hchavers @mike808 Well, all encryption is fucked so they’ll have your bank account too.
@mike808 I’m sure they will hard fork to quantum-resistant algorithms at the appropriate time. Downside will be larger addresses. Like 2000bit instead of 160bit.
I also suspect that stealing crypto will be one of the first use cases for quantum computers, sort of a canary in the coal mine. I just hope they don’t steal mine before the upgrades take place.
Additional voting option:
No, and I spend entirely too much time being asked about it because I work in tech. Even more time explaining why the asker’s get-rich-quick scheme (often taken from a clickbait article) will fail spectacularly.
Put me down for that.
@quieteidolon My favorite is “it’s basically Paypal, right?”
@brhfl
Fancy “speculator bubble encrypted untraceable PayPal”. I suppose.
@brhfl Ouch. Haven’t gotten that one yet.
Most frequently get someone who wants to buy time on someone else’s GPU farm in Brazil or eastern Europe, with no real understanding of the computation process.
Not to mention they just heard about bitcoin 5 months ago and lack all perspective on how ‘bubbly’ this sudden price jump looks.
@f00l bitcoin is completely traceable by design.
@Pantheist
I stated my thought badly Intended something else.
You are correct.
@f00l true. but ‘traceable’ in a certain sense. my mom can ‘trace’ a phone # with surprising accuracy, thanks to Google, nowadays.
But you can’t track your expected relative share of bitcoin (or any crypto) based on leased GPU time/clock cycles unless you properly understand the tech theory behind it. Dead simple to take someone’s cash and divert more than the contracted share to your own wallet in the first place - if the investor has a grok factor of zero, all but the truly scrupulous would have a hard time not taking advantage.
/giphy No
Bitcoin was ruined for its intended purpose when it became target of investment speculation. Perhaps this is the drawback to a decentralized currency.
Whoever is left holding the bitcoin when the bottom drops out is going to be out of a lot of fake money.
@PocketBrain It was further ruined when the annual energy consumption of the miners (they actually process the transactions) is more than the annual energy consumption of the entire country of Denmark.
And hours to clear a transaction (reach consensus across the miners) and post to the ledger/blockchain.
When governments are in on the speculation - to hedge against their own fiat currency, it’s pouring rocket fuel on that dumpster fire.
@PocketBrain
Unless you’re holding bitcoin to hedge when your own country’s currency bottom drops out. Any country with weak currency and hyperinflation is almost certainly secretly investing in bitcoin to hedge themselves and stabilize their nations currency.
Not to mention North Korea’s currency with the rest of the world is bitcoin. The higher it goes, the wealthier terrorists are, from doing nothing. The bubble makes them wealthier.
Buying bitcoin and creating demand is funding terrorism. The personal wealth benefits you get are merely profit sharing with terrorists, human traffickers/slavers, drug cartels, and money laundering tax cheat real estate moguls that run crime families or governments, or both.
@PocketBrain
What traded commodity or currency hasn’t become the target of investor speculation?
Digital currencies are too new to have predictable trajectories as investments or as currencies, Esp since anyone with the skills/resources can ICO a new one at will.
And, of course, various govts will target them and try to mess with them/steal them/corrupt them.
Those Bitcoin zillionaires: from one perspective: it’s a bit early to party, bro. From another: who can tell the future, so party while you can.
And there’s that little “quantum problem”.
Brave new world out there.
@mike808
Ty.
@mike808 I remember a couple years ago lime (the fruit, not the stone) prices skyrocketed because mexican cartels took over. There’s very little you can spend money on without making some unsavory people rich.
@Pantheist
But encrypted digital currencies are so perfect for those illegal/heinous purposes, they could have been created to order.
@f00l It is convenient in that it’s a commodity that can be traded digitally for sure. Bitcoin works, but really isn’t perfect for it since it’s designed to make every transaction public. I’m guessing the big baddies will move to monero if/when it stabilizes.
@Pantheist
I suspect the big baddies are already in, to some degree.
Any I suspect the biggest baddies/potential baddies of all are in: various govt militaries and national security organizations and the like, and intelligences services.
I suspect they all intend to corner or crack the various markets to the degree they can, and also to steal what they.
@PocketBrain Yeah, they ought to stop calling it any kind of currency. If you’re afraid to either spend it or accept it for goods, it’s not currency. At least, not currently.
Everyone should have Bitcoin.
Starting to think @mediocrebot is working as an informant. Asking about my marijuana usage, potential investments. Seems like there was another questionable “poll” lately.
@MrMark So what was the strangest chromosome marker in your home DNA sequencing report?
@mike808
You are poll-jumping now? Trying get in on personal Mehmber data collection ahead of @mediocrebot?
I don’t, but I end up talking about it more than I have any interest in because I’m a programmer. It’s either “tell me how solving math problems creates money? Where does it come from?” or “Is it worth investing in?” (which is the baffling one because I don’t know anything at all about investing in anything at all).
Related to my answer, @PolkSaladAnnie just reminded me of the conversation when I sold it. “You forgot your receipt… Mr. Rubik…”
@Pantheist Yeah, the funny thing about using false names with people is that the person you’re trying to play them with shouldn’t actually know the real name of anyone you’re with… that and the name you’re using should definitely not be based on a well known toy.
@PolkSaladAnnie How was I to know he knew you?
@Pantheist
@PolkSaladAnnie
This is just too good. : )
@Pantheist I think the “Hey, Charles, how are your sisters?” was clue enough.
I was set upon by some shady currency enthusiasts yesterday outside a big box stores. I totally fell for the pitch.
@f00l ABC Bakers = Advanced Blockchain Cookies
unfortunately, sign makers don’t accept bitcoin yet:
@shortj I get ALL my bitcoin from Taco Bell!
Actually do. I got interested when GPUs were phasing out and ASICs taking over, and I managed to pick up a couple of cheap ASICs. So I set up a Raspberry Pi with a block erupter (336 Megahashes/sec) and an Antminer U2 (2 gigahash/sec) and set them to mining with a mining pool. Got 3+ bitcents out, then lost 2 bitcents when the pool folded and stole everyone’s balances and I shut it down for a few years. I wish I had found a different pool and kept running instead but who knew?
I switched to Dogecoin using my Macbook Pro’s GPU but gave up after generating about 5400. Too much wear and tear on a laptop.
Last year I picked up an Antminer S3 (433GHash/sec) dirt cheap (before the runup in prices) because of a failed fan; I have boxes of spares so no cost fix. I run it in the garage (noisy!) and it and the restarted RaspPi miner have brought in some more fractional BTC. Its burning the power I saved by switching nearly every bulb in the house to LED. As a side effect it keeps the garage warmer this winter; during summer I had to declock it to prevent overheating).
So I have a modest amount of BTC and Doge that I actually mined. But I’d probably be ahead if I sold the miners; they are getting stupid prices on ebay right now.
I want to get some eventually both to kind of tip my toe in, but also more importantly to kind of support the idea. Just wish it was… I dunno, a little more secure. Just saw that some currency in Japan was hacked and stolen.
@Targaryen You could always use a paper wallet- they’re pretty safe.
Back in the day, I solved an entire block on my graphics card and got 50 bitcoins. They were worth about $1 each – very exciting. Then the “value” exploded and crashed a few times, there was all kinds of hacking and shenanigans, I did a little mining on graphics cards…
If I’d had any money at the time, I might have had the vision to hold them indefinitely and could have theoretically had about a million dollars now. As it happens, I made maybe $1000-2000 profit and the bitcoins are gone now.
It took me a while to get comfortable with that.
At least I learned some of the ways being an amateur day trader doesn’t work.
(edit) … ah shit this is an old thread. It was the spammer’s fault. I didn’t do it!
@InnocuousFarmer should I delete your reply or leave it?
@RiotDemon Would that do any good?
@InnocuousFarmer it disappears from the current topics. It goes back in line to whatever is the most current response.
@InnocuousFarmer @RiotDemon
Unless people keep bumping it.
Last person to bump this thread wins!!!
@InnocuousFarmer @mike808
ಠ_ಠ
@InnocuousFarmer @mike808 @RiotDemon
I win!
@mike808 @RiotDemon I was trying to say, “In that case, yes please, let’s re-bury the thread,” but the comment wouldn’t post. I guess this is fun too.
@InnocuousFarmer @mike808 @RiotDemon
/giphy Yay Fun!
@InnocuousFarmer @mike808 @RiotDemon
Happy doughnut!
Thanks for post about bitcoin
@lineagerqq you’re welcome. Do you have a link?