- Files: GIF, JPG, PNG, Maximum:8000 KB, Thumbnails: 600x600 pixels
- Currently 1331 unique user posts. View catalogue
[ Return ] [ Entire Thread ] [ Last 50 posts ]
Posting mode: Reply[ Reply ]
Expand all images.
|>>|| No. 7978
Any interest in a general crypto currency thread? The old Bitcoin one dates back to 2013 and things have moved on a bit since then. I got interested in them earlier in the year and have invested a few grand now, have just been picking up some coins here and there when the prices dip. I'd previously dabbled in funds and shares but was looking for something a bit less dull and with a higher risk/reward ratio.
There are some interesting projects using blockchain technologies that sound like they have potential, I think the Bank of England and the EU are working on their own crypto-currencies and China has one nearly ready to launch. It will be interesting to see where things go over the next few years, one hot topic lately has been decentralised finance (de-fi) where all sorts of financial products can be offered using blockchain tech removing banks etc. from the process entirely. This seems like one of the major benefits to me, carrrying out transactions peer-to-peer without involving any third parties although all exchanges these days require you to provide ID so it's not exactly untraceable, and there is no-one that can help if you lose your private keys or get your coins stolen.
|>>|| No. 7979
>some interesting projects using blockchain technologies that sound like they have potential
There are none, or we would have seen them by now.
>Bank of England
They are not. It's all hype. If banks were about to "do something" interesting in this space, you would have seen it by now. The crypto fanboys have been promising "something is coming soon" for the last ten years. The only people who are doing any work in this space, in crypto, are those who provide audit services on the blockchains themselves, so that law enforcement can unwind and decode where the money has gone during criminal cases.
>things have moved on a bit since then
Literally all hype.
|>>|| No. 7980
When something has been around for over a decade, worked exactly as intended and proved it's outwith the control of any individuals or governments it's a bit strange to say it's all hype. I wonder how many of these projects you've actually looked into.
> They are not.
The Bank of England has been issued with a proposal for a blockchain operating system in response to a consultation it published exploring the potential launch of a state digital currency.
China Central Bank Official Reveals Results of First Digital Yuan Pilots
ECB intensifies its work on a digital euro
> There are none, or we would have seen them by now.
Etherium has a market cap of $38 billion, it's running a network of tokens and smart contracts that enable the decentralised finance systems I mentioned before.
There are many blockchain projects that are up and running and work as intended already - you can store all your files on the blockchain using Internext drive, track the entire movement of products through the supply chain using Trace Token, use totally private P2P payments with Monero, there are many others: international payment systems, real time pricing information via oracles, trading of sythetic assets, automated index funds governed by smart contracts, the list goes on.
> crypto fanboys
and institutional investors like MicroStrategy who have invested $425M in BTC.
> Literally all hype.
OK you sure sound well informed about all this stuff.
|>>|| No. 7981
>worked exactly as intended and proved it's outwith the control of any individuals or governments
It hasn't done either of those things. The limited block size and the intentionally limited block rate mean it can never have the capacity needed to be a viable option for a proper payment network, and at any one time no more than five organisations control 50% of the hashrate.
>Etherium has a market cap of $38 billion
Alternatively, it's worth about 4 Theranoses or half a WeWork.
Literally all they're good for is market manipulation, money laundering, and fraud. If you've still got crypto after the big Bitcoin peak a few years ago, what you're holding is a bag.
|>>|| No. 7982
You're hyping it, because you're invested in it.
Read that Bank of England article - a vendor has pitched a proposal to them, that's all.
>There are many blockchain projects that are up and running and work as intended already...
But nobody is using them, other than people like you, who are invested in it. Nobody is storing their files on blockchain. There are no international payment systems of any note using blockchain or crypto currencies. There is no trading of assets, or automated index funds, or real-time pricing information going on, outside of those being traded in crypto currencies; banks, pension funds, trading firms, none of them are using these things and they've all looked at it. That's the point - if it was any use at all, people would be using it for things other than crypto currencies.
>OK you sure sound well informed about all this stuff.
ha. If only you knew. You're hyping it, because you're invested in it, and for no other reason.
|>>|| No. 7983
What are the uses for cryptocurrency and the blockchain that aren't total wank anyway?
Buying drugs and maybe handling transactions while living under a totalitarian government stand out as the good uses for the currency, and while "Verifying digital ownership" sounds all well and good i'm struggling to think of applications that aren't wank. I'm sure there are some, but all the ones I've heard of would work just as well with trusting a single non-blockchain authority. (Like verifying ownership of in-game items for example.)
Don't get me wrong: I don't think it's useless. I'm just not personally aware of the practical uses.
|>>|| No. 7984
Unless you've mined the coins yourself, I don't even think it's any use buying drugs anymore - any of the public exchanges seem to co-operate with law enforcement (because DUH they have to), and there are plenty of recent cases where darkweb marketplace sellers get easily busted because all the transactions are there to see.
Law enforcement don't bother trying to stop the crimes anymore, because they know they can just follow the money more easily.
|>>|| No. 7985
I know this to be true of bitcoin, but what about others, like Monero? I know they've had some issues but as I understand it, the transactions are not traceable.
Asking for a friend.
|>>|| No. 7986
> proper payment network
I don't think Satoshi had planned people would use BTC when they were buying a packet of fags at the corner shop, it works fine for peer-to-peer payments and as a digital store of value - other currencies aim to address the fees and transaction time issues. There are plenty of options for 'proper payments', Swipe, Plutus, Crypto.com and Binance cards all allow you to spend crypto at the shops (with cashback).
> at any one time no more than five organisations control 50% of the hashrate
Are you referring to mining pools - not sure why this is a problem why does it matter who is doing the hashing?
Etherium market cap has grown by 400% in 12 months I'm pretty sure that trend will continue and ETH 2.0 is in the pipeline.
I'd say I'm invested in it because I think it's an area that will grow siginificantly and we'll see increased adoption and use-cases and like I stated in OP I ws looking for something with higher risks and rewards than traditional investments - I haven't invested anything I can't afford to lose and haven't gone all-in on crypto. I'm not going to argue there aren't plenty of scams and shit coins out there but I think there are plenty of solid projects as well with good potential, time will tell I guess.
> a vendor has pitched a proposal to them, that's all
Mark Carney's stance has certainly changed from a few years ago when he said crypto currencies are failing and now he's looking at potentially implementing one himself.
We're seeing banking licenses now being issued to Crypto exchanges in the US and banks being allowed to back stablecoins, regulators are getting more involved, adoption is increasing, Space-X have plans to provide a payment network for anyone with a mobile phone using Ripple and thousands of low-orbit satellites, USDC is backed by actual dollars, I could go on. I expect banks, pension funds and trading firms will get more involved as time goes by and we'll see crypto ETF's in due course. We could argue this back and forth all day but obviously we just see things differently.
Monero generates a temporary payment address when you send a transaction to someone, then forwards it to their wallet, as far as I know it's very difficult or impossible to trace. The US Government has offered a bounty of $650k to any firm that enables them to trace payments. Zcash tries to do something similar.
Kind of surpised everyone seems so negative on the whole topic, maybe you guys are right and it's all a house of cards that will all come crashing down but I'm not convinced. Last month Uniswap issued a token and gave everyone who had used it before the start of September 400 of them as a reward for early adopters, I had two qualifying wallets and was able to sell the 800 tokens for around $3k USD (could have got more if I'd timed things better) it was a big sum of money for me and probably the best thing that's happened to me all year, for someone in a poorer country it could be several months wages. This may have given me rose-tinted glasses on the whole thing but I still plan to accumulate more and hope like everyone else involved in crypto we'll see another massive bull run sometime.
|>>|| No. 7987
>Mark Carney's stance has certainly changed from a few years ago when he said crypto currencies are failing and now he's looking at potentially implementing one himself.
He's not even the Governor anymore - that will be Andrew Bailey.
|>>|| No. 7988
>cards all allow you to spend crypto at the shops
They don't really do that. They allow you to use your deposited real money, adjusted for the value fluctuations of your poker chip of choice, to pay in whatever the local currency is.
>not sure why this is a problem why does it matter who is doing the hashing?
If you control half the network, you control the chain. That could include deciding what blocks to accept, or just rewriting part of the chain entirely. Effectively power is centralised in whoever's in charge of the pools, particularly since nobody really mines on commodity hardware anymore.
|>>|| No. 7989
>Space-X have plans to provide a payment network for anyone with a mobile phone using Ripple and thousands of low-orbit satellites
It's hard to see this as anything but a rube goldberg machine. What possible advantage does this offer over a traditional debit card?
|>>|| No. 7990
>>7989 Global, innit.
If you've got a decent local supplier of debit cards and services, it's hard to see much of an advantage, except as an out-of-band payment system when you want to obfuscate a payment a bit. But who'd want to do that?
Paypal in spaaaace? It not _that_ daft.
|>>|| No. 7991
The idea is that you can do it without having a bank account, just an app on the phone.
|>>|| No. 7992
Etherium classic had a series of such attacks recently, it seems impractical it could be done with bitcoin though.
> Well-known Bitcoin (BTC) educator Andreas Antonopoulos recently suggested that with the Bitcoin blockchain, a 10-minute 51% attack would cost around $1 billion.
although I'm not sure where the information about the 5 organisations controlling 50% of the hashrate comes from, from what I understood the majority of hashing is being done in China using cheap hydro-electric energy.
|>>|| No. 7999
One of my pet conspiracy theories is that the BTC blockchain was forked in April 2014 to cover up the theft of the MTGOX bitcoin by Hal Finney.
It's a funny one because you can see artefacts of the fork (orphaned blocks etc) to this day on blockchain.info but if you start ranting about the real identity of Satoshi and how MTGOX was actually the original Silk Road's hot wallet people start looking at you like you've spent too many years in front of a computer with a head full of meth.
Back to /boo/ with me anyway, lads.
Sage for rambling of no real merit at all.
|>>|| No. 8000
Posts like these make me feel like we live in a shit Neuromancer. I wish I understood anything you were on about.
|>>|| No. 8001
I understand it, on a surface level. Yes, it's like a shit Neuromancer.
|>>|| No. 8004
If you enjoy speculation about the identity of Satoshi you might like this 3 part documentary - a you tuber does quite a bit of research into it. The name he comes up with is not one I hear mentioned often, and it's not Hal Finney although he does get a mention.
|>>|| No. 8005
Three part documentaries that could be three paragraph articles can fuck right off into /101.
Sorry lad, I'm sure you mean well.
|>>|| No. 8033
What website do you guys use to buy bitcoin?
|>>|| No. 8036
I got proper into it earlier this year, also caught the uniswap airdrop and a few others too. There's a lot of scams and shit (XRP is a prime example).
Interestingly there's been quite a bit of institutional investment this year. While I'm a bit concerned about bitcoin (or probably more tether), I do think something that isn't centralised is quite important, what with all the money printing going on. DeFi has been interesting but in general it feels more like blackbushe market than canary wharf.
I've only got a small amount in there (used the airdrop for most of it), it's more a nice hobby and trying to make a bit of beer money with futures. I've never had much money so the airdrop of £1.4k was a bit of a 'fuck' moment. Enjoying pancakeswap at the moment.
>If you've still got crypto after the big Bitcoin peak a few years ago, what you're holding is a bag
This aged very well indeed.
Coinbase is easier, but pro is much cheaper and essentially the same thing. I first got £50 bitcoin on coinbase before I realised how much cheaper the pro fees were.
|>>|| No. 8037
> blackbushe market
Is that a Camberley reference? That will go way over the heads of the Beeston lads.
|>>|| No. 8039
I just bought some bitcoin, so get ready for a 2017 sized crash any day now.
|>>|| No. 8040
Follow @whale_alert and get ready to drop it whenever you see huge sums of Tether moving. It almost always signals someone's about to pump and dump Bitcoin.
|>>|| No. 8047
A few years ago I decided I'd start throwing N% of my disposable income into bitcoin just on the off-chance that it actually outperformed my other shitty investments, but obviously I never actually got around to doing it. Maybe I'll finally start doing it next year now that I'm finally fully solvent again.
I know a lot of people who are trying to get rich quick off crypto and have been for years; buying the "dip" every time the price goes down a grand or three and selling off when it goes 2-3 grand above what they bought in at and then rinse and repeat. I'm sceptical about how far that kind of "investment" can take you especially if you consider that if you compare it to betting odds then buying a 20k bitcoin in the hope of selling it at 25k is basically the same as betting 1/5 on something that's very far from an odds-on cert.
|>>|| No. 8056
I remember the worst day of my life was whilst I was working in a call centre. I was on the phone to some dreadful cunt, and I looked up at one of the muted TVs on the office floor, and they were broadcasting a news report about bitcoin reaching record levels. I had thousands at one point. Nothing to show for it apart from memories.
Please stop talking about bitcoin, it isn't fair on me lads, I might cry.
|>>|| No. 8057
I mined a couple of hundred bitcoin back in the early days. I sold them at just over $100 each and thought that I'd made out like a bandit on a stupid internet fad. I blew most of the money on escorts and vintage vinyl and now I can't look at my record collection without thinking that I could have been a millionaire.
Bitcoin truly is the infinite regret machine.
|>>|| No. 8060
Stop chatting bollocks you total prick. Continuous investment (which yes I have repeatedly missed out on, thanks for rubbing it in) is entirely different to the concept of short trading which is very much like laying a discrete bet (or, if you prefer, trading futures). I did make this distinction in my original post, but you'd know that if you'd ever learned basic reading comprehension.
Regardless, you have to cash out eventually; so where's the ceiling of your risk appetite? $30k? $50k? $100k? Or do you just plan on "hodling" forever until a major stakeholder cashes out all their chips and leaves the man on the Clapham omnibus holding a big vase of tulips? Make no mistake about it, the very nature of BTC means that the big stakeholders can basically manipulate the market at a whim while the average £20-£100k investor is subject to major price volatility every time some cunt hacks an exchange or darkmarket and starts cashing out.
As a wise man once said "If you're hanging on to a rising balloon, you're presented with a difficult decision - let go before it's too late or hang on and keep getting higher, posing the question: how long can you keep a grip on the rope?".
> Bitcoin truly is the infinite regret machine.
When bitcoin first hit 20k at the end of 2017 I totted up all the btc I'd spent on drugs in 2015 alone and it was enough to make a grown man cry. If I had records to work out all the btc I've bought and spent on chemical ephemera since the original silk road in 2012 then I'd probably be hanging myself in the wardrobe as we speak.
|>>|| No. 8061
I couldn't possibly tell you how many bitcoin I spent on drugs because I did the drugs. Why do you all have records or memories of this stuff?
|>>|| No. 8062
The only reason I could check that was because In 2015 I bought all my bitcoins off one single exchange and afaik I still have an account there. I have absolutely no clue where I even bought my btc from in 2012-2014 never mind how much of it I went though. I just assume that given the inflationary nature of the currency it'd be worth a good seven figures by now considering I was blowing through hundreds of quid a month at a time when btc was practically valueless.
|>>|| No. 8063
>Why do you all have records or memories of this stuff?
The blockchain never forgets.
Unless there's a hard fork or a 51% attack.
|>>|| No. 8064
Some lad just moved >100 million pounds worth of Bitcoin. Mental.
|>>|| No. 8073
Cryptolad, what's your take on the latest movements?
|>>|| No. 8074
I don't even know what to think. I keep thinking things are going to slow down, and things just suddenly surge again. And I don't tend to hold, just take small profits when I can, so I miss out on a lot of the big surges. I suppose I should start holding more and write some program that keeps updating a stop order using Coinbase Pro API, but I'm terribly lazy.
|>>|| No. 8075
Much of the movement is apparently a mixture of wash trading and Tether-related manipulation. Tether was supposed to have been backed 1:1 by real money, but they've been a bit coy about auditing and have backpedalled to "or equivalent", and even then a lot of people suspect they don't actually have the $20bn to support what they've printed.
|>>|| No. 8076
>Bitcoin rallies above $30,000 for the first time
My BTC holdings have now reached an incredible value of nearly six dollars.
|>>|| No. 8077
Someone posted here that when Bitcoin was new and worthless they mined like a million of them just to experiment and then lost the hard drive they were on. I think about that post a lot.
|>>|| No. 8078
I posted similar but it wasn't a million of them, it was probably about 5 coins, which is still fucking painful, but I would say I made an equivalent amount back in spare change in drug wallets.
There was a lad in the news a few years ago who likely still is scouring a landfill for a hard drive full of coins, bless him.
|>>|| No. 8079
Are Bitcoins actually sold in any other currency?
|>>|| No. 8082
I once read there was difficulty in converting Bitcoins to other forms of currency, and that they're used mainly to purchase things online from vendors that accept it. I could be entirely wrong, but it was a sincere question.
|>>|| No. 8083
Yes, you can buy and sell Bitcoin with and for other currencies.
|>>|| No. 8085
That's roughly my take on it. I've accidentally crashed the price on smaller markets by selling ~$10,000 worth of BTC (I was simply moving money from one country to another with a much more closed banking system and a relatively isolated bitcoin ecosystem). We see much bigger "corrections" every time someone pulls of a successful bitcoin heist or scam and dumps their coins too soon.
Cryptocurrencies are a bit like company shares but where anyone with a decent holding is a CEO. As soon as anyone sells off a decent amount the market panics and the price corrects, again. It's also theoretically possible to drop the market price by selling yourself a relatively small amount of BTC at a below market price and then buy the dip causing prices to go back up as confidence is restored. A dump and pump, if you will.
I'm definitely very interested in where the price of bitcoin eventually ends up when the the last block is mined and where the optimum price to sell at actually turns out to have been.
|>>|| No. 8088
How much research is actually happening into reanimating defrosted heads?
|>>|| No. 8089
The pennies in change left over from a shitty transaction a year or two ago are now almost worth an entire quid. Milkybars are on me, lads.
|>>|| No. 8091
A couple of hours ago a few million Tether were minted. In the past hour Bitcoin has jumped almost $2k. Just a coincidence, I'm sure.
|>>|| No. 8095
No. Anyone that recommends one almost certainly just wants the price to rise so they can dump their holding in it.
|>>|| No. 8096
On that note, is it too late to make any real money from cryptocurrencies?
Assuming I don't want to buy drugs or anything, but am looking for ways to supplement my income, is it still worth buying a machine just to mine?
|>>|| No. 8097
>is it still worth buying a machine just to mine?
Almost certainly not.
|>>|| No. 8098
You deviously evaded the first question. Are you a secret crypto-trading thousandaire?
|>>|| No. 8099
No, which is why I didn't feel qualified to answer the question that requires more knowledge.
|>>|| No. 8100
>is it too late to make any real money from cryptocurrencies?
In general, unless you're planning to launch one in order to scam investors, pretty much. The best you're likely to do at this point is get lucky riding the manipulations, but they tend to happen most frequently at times when it's difficult to trade, which isn't a coincidence. The only people making real gains are the manipulators and long-term holders engaged in principal-preserving burn. The eternal HODLers have been making paper gains, but unless they're actually cashing out they're not really making anything.
|>>|| No. 8101
>The Office of the Comptroller of the Currency (OCC) today published a letter clarifying national banks’ and federal savings associations’ authority to participate in independent node verification networks (INVN) and use stablecoins to conduct payment activities and other bank-permissible functions.
>The Stellar Development Foundation has signed an agreement with the Ukrainian government to facilitate the creation of a digital asset ecosystem, including a framework for a central bank digital currency, or CBDC.
>Visa’s crypto steps in the past year have likely gone less noticed because they are partnerships, as opposed to the outright solo initiatives from PayPal (which will add bitcoin and other cryptocurrencies to PayPal and Venmo next year) and Square (which added bitcoin to its Cash App in 2018, and this year bought $50 million worth of bitcoin for the company’s balance sheet).
>"Bitcoin could be an asset class that has a lot of attraction as a store of value to both millennials and the new West Coast money and, as you know, they got a lot of it," Druckenmiller, who, along with George Soros, famously bet against the British pound in 1992 and made massive profits, told CNBC this week. "It’s been around for 13 years and with each passing day it picks up more of its stabilization as a brand."
If I had put away a couple pounds a week in bitcoin each week since I had heard of it, I would be rich beyond my wildest dreams today.
Every time BTC has a peak, people say it's over.
20% of USD were printed in 2020 and the majority of it went straight to corporate shareholders.
The legacy banking system has its fundament built on centuries old infrastructure and suffers greatly from centralization and lack of transparency. Part of me thinks that crypto is some tulip-mania South Seas Company type scam, but part of me believes that this radically distributed approach to capital represents the next step in the evolution of finance.
The fact that finance boomers are getting into it now makes it seem like they know that the road to crypto is inevitable and are getting involved to retain their power before it is too late.
In conclusion, I will be putting beer money in associated meme coins from here on out as it seems like the return is better than buying lottery tickets.
|>>|| No. 8102
>radically distributed approach to capital
The majority of the world's mining capacity is controlled by eight Chinese syndicates. BTC is more centralised than fiat currency.
|>>|| No. 8103
> crypto is some tulip-mania South Seas Company type scam
This is the only true thing you said.
|>>|| No. 8104
>20% of USD were printed in 2020 and the majority of it went straight to corporate shareholders.
Would you mind not repeating tired memes on /money/?
|>>|| No. 8106
Yep. People don't really understand how it's only a handful of people pulling the strings on BTC.
Obviously with 20/20 hindsight vision, the correct time to start investing was 2012 when most of us nerd types first heard of it (only we weren't cynical enough to believe that people would actually invest real cash into monopoly money that was mainly used to buy drugs from strangers on the internet).
Even if I'd only thrown £50 / month in since say 2017 I'd have made a fairly big return by now although in early 2019 I would probably have cashed it all out anyway as I was basically on the bones of my arse for a few months.
The other big problem, as I and others have already mentioned, is when exactly to cash out. BTC will either be worth somewhere over $100k/coin or absolutely nothing by the end - the question being "when you do pull out", and as a lot of people who've pulled out too late can tell you it can really fuck your life up.
Incidentally I have a mate who bought two coins when either coinbase or bitstamp first opened for a couple of hundred each and says he's basically going to sit on them until they're either worthless or they can pay off his mortgage. More power to him for taking a punt and not being a druggy cunt like me.
Sage for utter rambling.
|>>|| No. 8109
>he's basically going to sit on them until they're either worthless or they can pay off his mortgage
I envy his outlook on life and ability to do that. I'd be tearing my hair out.
|>>|| No. 8110
I assume the lad in question has a stable income elsewhere and treats the Bitcoin as an entirely separate gamble, like a lottery ticket in your backpocket.
|>>|| No. 8111
I also have a stable income but I would still be terrified to have that sort of money riding on a gamble. At least if I lose all of my money I can blame the bloke handling my investments, it would hurt a lot more if it was my fault.
|>>|| No. 8112
If you only ever cash out a percentage it is (has been) pretty easy to take out all personal risk and retain exposure to any continuing gains.
|>>|| No. 8113
Yeah but investing in a commodity like this in a monthly fashion is bit like working with compound interest. If you take your original investment out every, say, six months then even with the fairly large gains we've seen with BTC lately, that doesn't leave you with a lot invested to appreciate over the next three months.
I might simply be a bit dim but I can't see how to invest a fixed monthly amount, retrieve that amount on a semi regular basis, and still have enough in the pot to make it worth your trouble. This model would only work if BTC were in continuous growth (as over time the profit left over would steadily increase) but we've all been around the block enough times to know that BTC can devalue massively for years at a time. It took three years for the people who bought in at $19k+ in December 2017 to even break even, for example.
|>>|| No. 8114
>I might simply be a bit dim
You're not - at all - the whole thing is a pyramid scheme, so unless you're going to buy in, and then spend half your life promoting it all over the internet to the next layer of unwitting saps, it won't grow and you won't be able to regularly make money on it. Your point about those who bought in at the end of 2017 is very pertinent.
|>>|| No. 8115
You don't withdraw based on time, but on rises. You can bank the profit those rises make possible (and can take out smaller percentages once you've extracted your stake). Yes it requires frequent and significant growth, but that's something Bitcoin has had - there hasn't been two consecutive years without big rises. Of course you'd be limiting your gains. Maybe you can't pay off your mortgage but instead can buy a nice car. It's a middle ground where you're trading risk for guaranteed reward. It may well be too late to start doing this now.
Contrary to >>8114's view lots of us Bitcoin owners are keenly aware that Bitcoin is outdated tech and is mired in bad governance. It cannot coast on its first-mover advantage forever but for as long as it does, we're happy to reap the rewards. The likes of >>8114 said institutional investors would never come but here they are. Think of it as a pyramid scheme if you really must. The thing is, you passed up the opportunity to sit near the top.
|>>|| No. 8116
> The thing is, you passed up the opportunity to sit near the top.
This is true but seeing it now is purely hindsight. People who bought £100 of BTC back in 2011 and just sat on it are laughing all the way to the bank, but so are the people who bought shares in Apple when Jobs went back to what everyone thought was an irreparably sinking ship, or bought shares in Microsoft when it was just two nerds ripping off DEC's CP/M and licensing it to shifty makers of IBM PC compatibles.
It's worth remembering that for every Amazon type success story there were dozens of companies that simply didn't survive the dot com boom of the late 90s.
It might sound like sour grapes that I wasn't one of the "visionaries" but honestly I'm chuffed for my mate who's going to eventually pay off his mortgage with two fucking bitcoins and find the idea that I might one day be able to pay for a trip to Mars with less bitcoin than I spent on drugs in a single year entirely hilarious.
Btw, unless you're secretly one of the Winklevoss twins shitposting on ARE BRITFA for laffs then you're nowhere as near the top of the pyramid as you seem to think you are. Beware the whims of the Great Magnet, lad.
|>>|| No. 8127
Are there any guides to purchasing and trading bitcoin/other crypto for thick cunts like me?
How do you actually get started? Is it still worth it or has the boat sailed?
|>>|| No. 8190
There's been a lot of talk on BBC radio 4 recently about cryto currencies - particularly Ripple and Bitcoin. I guess demand will be rising.
|>>|| No. 8191
It's the same thing that happened at the end of 2017. A sudden surge in price gets the mainstream media reporting on it and before you can say "satoshi" you've got total smeg for brains borrowing their nan's life savings or remortgaging the house to put it all into bitcoin because someone's convinced them it's going to double next week the same as it did last week.
I wonder how long the people who bought in at $40k+ are going to have to wait around to get their money back this time.
|>>|| No. 8192
Hit over 40k last week, and in a move that literally nobody saw coming it went down to 30k on Sunday. Totally unpredictable and not in any way the result of manipulation.
The whole thing is a Ponzi. The claimed "institutional money" isn't actually money but their investors' existing crypto holdings.
|>>|| No. 8193
I pulled my pocket money out when it reached 32 on the way down because I was reading about the Tether scam and I'm quite happy to wait until how things are looking after the 16th before I resume gambling with magic internet money.
|>>|| No. 8194
> The whole thing is a Ponzi.
That's basically true, and even more true of altcoins (where there was extensive pre-mining and the inventor isn't a head in a jar).
> The claimed "institutional money" isn't actually money but their investors' existing crypto holdings.
I'm not sure how this works, though. Are you suggesting that people pulled holdings out of other cryptocurrencies, pumped up the bitcoin price, waited for people to buy in, and then sold off some of their holdings for profit and/or to re-invest into other cryptos?
Wouldn't that kind of thing be pretty easy to notice just by looking at graphs of the trading volumes of the various cryptocurrencies on the various big exchanges and doing some kind of gap analysis?
|>>|| No. 8195
>Are you suggesting that people pulled holdings out of other cryptocurrencies, pumped up the bitcoin price, waited for people to buy in, and then sold off some of their holdings for profit and/or to re-invest into other cryptos?
No, those are two separate things. The hedge funds "investing" in it aren't putting money in, they're just acting as custodians for their customers who already hold BTC etc.
The Tether thing is scandalous. It's supposed to be backed entirely in dollars, with the idea being that 1 USDT = 1 USD. The trouble is they now say that they have dollars "or equivalent", which opens up the possibility (which many suspect) that newly-minted USDT aren't being paid for in USD but in existing crypto - in other words, it's not reflective of new money and assets coming into the market, but existing money already in the market, undermining the whole "sound money" thing cryptobros like to bang on about.
|>>|| No. 8198
I can only assume he's trying to get some money from the exposure again. Seriously, this guy turns up every time buttcoin his some kind of peak.
|>>|| No. 8199
I mean, I think he's just still desperate to get people to listen to him and help him dig through a landfill. I don't blame him, in a way, knowing I had 200 million quid buried somewhere in my district, I'd probably be running around offering people 50 million to lend me a JCB, too.
|>>|| No. 8201
>>8199 As soon as he raises £50M to buy the landfill site and a JCB, I imagine the inevitable bitcoin crash will appear. How could it not.
|>>|| No. 8202
Am I the only one who thinks he's a bit naive to think that his HDD is in any way serviceable any more? First off it ends up in a drawer because he spilled a drink on his laptop, then he chucks it out, presumably it goes in the big chompy-crushy bin lorry with all the other waste. Whatever arrived at the landfill site has now been sat there for seven or eight years suffering wind, rain, and other shite being thrown thrown on top of it.
I've had hard drives completely stop working from a 12" drop onto a tiled floor, I have no idea how he thinks his is going to be in any way recoverable after the near decade of torturous abuse it's received.
|>>|| No. 8203
>I've had hard drives completely stop working
I think if you had a BTC wallet with 7.5k coins on it, you'd have tried a couple more data recovery techniques than you did at the time. I'm not saying his HDD is definitely preserved, but it's not inconceivable that a wallet would survive on even a shattered platter.
|>>|| No. 8205
> but it's not inconceivable that a wallet would survive on even a shattered platter.
It's not, but it's within the realms of the very unlikely. Assuming that the superblock/MFT is almost definitely corrupted and given that wallet.dat is just a btree type Berkeley DB file, the only way to search for the data you want (the keys) is if you remember the blockchain address you had the coins in and to brute-force search for that pattern as the key in a KV pair - across the entire disk (or whatever parts are readable). In other you'd better hope that the file was small enough to be stored in sequential sectors or you're going to be SOL and you'd better hope against hope that the disk wasn't protected via Bitlocker or LUKS as if even one byte is corrupted you'll be unable to read all the other logically sequential bytes thanks to the wonders of Cipher Block Chaining.
|>>|| No. 8206
This is why I defragment all of my storage media multiple times per day.
[ Return ] [ Entire Thread ] [ First 100 posts ] [ Last 50 posts ]