Cryptocurrency Lolcows

Ethereum crashed? That's utterly hilarious.

4chan's /biz/ is always on about crypto-investment, failing to realize that established investment companies worth a shit don't go into them for very obvious reasons (namely, that they're more volatile than a Wolverine soaked in gas). A while back, the entire forum was flooded with threads about ETH going 'TO THE MOON', cackling as 'nocoiners' would certainly be on suicide watch after this massive jump that you just wouldn't get with blue-chip stocks.

I wonder how many of them were smart enough to pull out after the jump? Or, rather, if they were even allowed to pull out after the jump, considering how wallet companies seem to be corrupt, stupid, and nonfunctional.
 
TowinKarz said:
Sounds like your basic problems when wide-eyed geeks ignore or don't see the various real world problems that exist outside the design studio, and when informed of them, try and invalidate them as excuses to not move forward, not legitimate concerns about something the designers obviously didn't think of.

I. E. - The people trying to develop driverless drone delivery for books/pizza not even considering the fact that no person at the wheel means a LOT of real people will now attempt to rob/shoot down the darn things for free books/pizza since a computer can't file a criminal assault complaint.
Click to expand...
There' a new crime in the making!
 
  • Like
  • Winner
Reactions: GandT, DykesDykesChina and TowinKarz
Solzhenitsyn said:
They are still incredibly salty over Circle.

Because I know that if there's one thing companies love when looking into taking a chance on Internet money, it's the knowledge that their potential customers have the emotional maturity of eleven-year-olds.
Click to expand...

Advertising for a specific service and then getting a bunch of people to sign up for it and then canceling the only reason anyone used it isn't exactly great business practice either.
 
  • Like
Reactions: CatFace, GandT, Uncanny Valley and 1 other person
Since we talked about Ethereum a while ago, did I mention one of the most "wait, what?"-esque sentences ever written in Wikipedia?
On 2 October 2015, [Imogen] Heap announced that she would be releasing her single "Tiny Human" using blockchain technology during a Guardian Live livestream event. In a panel after performing a stripped-down version of "Tiny Human" with cellist Zoë Keating, Heap explained that she was releasing her single along with other content via the concept of Mycelia—a way for artists to share their music as well as enforce smart contracts via blockchain-based technology like Ethereum. Sales of "Tiny Human" via Ethereum based Ujomusic.com as of 6 December 2015 were US$97.45.
Click to expand...
It's not a typo.
It's not a typo.
Not hundredmill'n. Not hundredthousand.
Hundredbucks.
Fuckit.
I hear there were a few sales since that, so this astonishing revenue may have even doubled. But you can't buy the thing from the site any more, so it's all rather academical anyway.
...Music industry isn't quite as omnipotent as it seems.
 
  • Informative
Reactions: Cryin RN, Uncanny Valley, GandT and 2 others
I remember when Doge came out. My friend heard about it through reddit within the first day, and we both predicted pretty much some form of the trajectory it went through, and just mined for about 5 days then sat on the coins for a while and cashed out when we saw the inevitable scam incoming. We never managed to sell for cash, but we found someone who traded us for 30 PLEX on EVE online, so that wasn't bad for basically no work.
 
  • Winner
  • Informative
  • Like
Reactions: Exterminate Leftists, Ass eating cunt, CalmMyTits and 3 others
Thread Necro? I love me some Bitfinexed
https://twitter.com/Bitfinexed/status/925978156896571392
upload_2017-11-2_0-28-18.png
 
  • Informative
Reactions: Uncanny Valley
Bitcoin is no doubt a miracle to the handful of neets and wealthy individuals alike that it earned millions of dollars for, but now the technology is demonstrating it's inability to scale well enough for long-term adoption, and the politics of BTC are making it too prone to forks. Congratulations to those lucky few autists that made it, but the people buying in right now are five years late on hype, and Bitcoin has demonstrated in the past week that neither it nor its forks will ever be a good store of value. Blockchain technology in general is innovative, but BTC won't be the one that normalizes it globally.
 
  • Agree
  • Like
Reactions: Alex Poulos, Army Burger, mdrop22 and 6 others
ForgottenAcct said:
Bitcoin is no doubt a miracle to the handful of neets and wealthy individuals alike that it earned millions of dollars for, but now the technology is demonstrating it's inability to scale well enough for long-term adoption, and the politics of BTC are making it too prone to forks. Congratulations to those lucky few autists that made it, but the people buying in right now are five years late on hype, and Bitcoin has demonstrated in the past week that neither it nor its forks will ever be a good store of value. Blockchain technology in general is innovative, but BTC won't be the one that normalizes it globally.
Click to expand...

The general community around Bitcoin is what is going to ruin it, ironically, considering that it shouldn't be possible to do that.

The entropy and waste heat issue is a larger concern in the long run for crypto in general, although ironically, if energy issues spike the cost of electricity, that will actually also spike the cost of generating crypto. It's just a question of whether this will fuck it up so badly that it actually makes transmission itself impractical. Increasing the scarcity of the currency itself increases its value otherwise.
 
  • Agree
  • Like
Reactions: Alex Poulos, GandT, Marvin and 5 others
Electricity consumption is directly related to the security and value of a PoW blockchain. I sometimes hear people worrying about hashrate drop due to unprofitable mining, to which I reply that people obviously don't value BTC that much if they're not willing to support the hashrate either directly via miners or boosting the price by buying.

If there was an energy crunch (at least at a global scale) everyone would have to throttle down proportionally, dropping the difficulty to maintain the same-ish profitability. It's the cost of the electricity that matters.
 
  • Agree
Reactions: Marvin
I want to try to make money on bitcoins. Many people are doing this. I want to learn more about all the pitfalls. I found this article https://bitcoinbestbuy.com/, it describes everything in detail, however I would like to hear real feedback and advice. Thanks!
 
Matt said:
I want to try to make money on bitcoins. Many people are doing this. I want to learn more about all the pitfalls. I found this article https://bitcoinbestbuy.com/, it describes everything in detail, however I would like to hear real feedback and advice. Thanks!
Click to expand...
Pitfalls: bitcoins are an inherently unstable, finite 'currency' backed by no one with no real value whatsoever and are significantly worse in every way than any other form of money including wampum and iron rods.

There's people on r/bitcoin talking about how they made transactions like, four days ago and it still hasn't gone through. If your form of money transference is slower than putting a check in an envelope, with a transaction fee significantly higher than 49 cents, maybe it's not the greatest method.
 
You must log in or register to reply here.
Back