Bitcoin

[degenerasian]

degenerasian

I don't know if we can add each other though, we belong to Brian

[A_B]

degenerasian

I don't know if we can add each other though, we belong to Brian

I think this is right. You have to get schlubs not already on to join your scheme. I get credit for the people I have invited but I think Brian does too.

[Johnnie]

MLMcoin.

Good job, Brian. Enjoy your white Benz.

[brian]

My 17-year Swamp plan finally comes to fruition.

[Shirley]

Ah, I see now. I hadn’t tried to add anyone yet, but it does seem to require them to be users I got to join. Weird.

[Baloney]

Bitcoin mining uses more electrical energy than Argentina

https://www.iflscience.com/technology/b ... j5GEqey4j4

[brian]

Bitcoin mining uses more electrical energy than Argentina

https://www.iflscience.com/technology/b ... j5GEqey4j4

Yet another reason why I think if someone can present an ecological alternative to mining digital currency it has a legit chance of making headway in the space.

[Baloney]

Bitcoin mining uses more electrical energy than Argentina

https://www.iflscience.com/technology/b ... j5GEqey4j4

Yet another reason why I think if someone can present an ecological alternative to mining digital currency it has a legit chance of making headway in the space.

Yep somehow link it to carbon capture

[Gunpowder]

They essentially have, Bitcoin requires much more energy than the other ones.

[brian]

They essentially have, Bitcoin requires much more energy than the other ones.

Isn't that just because the "coins" for those services are more easily mined? Any that reach the rarity of Bitcoins would presumably have the same issue eventually.

[Gunpowder]

They essentially have, Bitcoin requires much more energy than the other ones.

Isn't that just because the "coins" for those services are more easily mined? Any that reach the rarity of Bitcoins would presumably have the same issue eventually.

Perhaps but they are also more easily mined because they use a different method for the blockchain.

EDIT: Of course, since there are more available coins for many of them, in theory they could become hopelessly bogged down in time if technology doesn't catch up fast enough.

[The Sybian]

Finally, an explanation of Bitcoin mining I can understand. I don't understand how its done, but I understand the concept now.

[degenerasian]

Finally, an explanation of Bitcoin mining I can understand. I don't understand how its done, but I understand the concept now.

That's a really good one. I've never mined but I made my bitcoin "fortune" through faucets. So what would happen is a website would give away satoshis in exchange for watching an ad or playing a game or something. There are 100,000,000 satoshis in one bitcoin. The website has to give a reasonable rate of return to compete with other websites while still making money off the ads that I'm watching.

So there is a site that I'm on that you just have to click a button every hour to claim satoshi. When I first started bitcoin was around $2,500, so I started a bit late. Every hour I would click on a button and receive like 100 satoshi. So it would take you a million clicks to get one bitcoin which is more than 100 years. People who started earlier got more per click. But if you combine enough sites and take advantage of bonuses and referrals it can go faster. It's super boring, tedious and pointless but I'm a super boring, tedious and pointless person but that's what I did. At one point i had more than 20 websites and apps and just rotated them every hour.

Today, if you click on that button, you get FIVE! Five Satoshi, you're going nowhere.

[brian]

As forces align against Bitcoin, I think you're going to see a lot more of these kinds of arguments.

[mister d]

Asking as a dummy ... isn't that a good argument against a non-necessity?

[brian]

I need to pick my shot for shorting this shit (all of it) somehow but it's too risky right now.

[Gunpowder]

It's always going to be too risky.

[Johnnie]

I feel like such a dummy for not getting a coin wallet established a while back and just putting a few hundred bucks into it for fun.

I seriously feel like everyone is getting really, really rich and I'm just sitting here looking around like an idiot.

[The Sybian]

I feel like such a dummy for not getting a coin wallet established a while back and just putting a few hundred bucks into it for fun.

I seriously feel like everyone is getting really, really rich and I'm just sitting here looking around like an idiot.

I'm still kicking myself for not going all in on Beanie Babies in the late 90s. No way they ever lose value!

I'm just convinced I would have been one of those guys who lost it all on a corrupted hard drive.

[Gunpowder]

You guys do realize that if it were just that easy to pick and choose which things are going to do this, everyone would be rich, right?

[mister d]

Seems equally valuable to know enough to know you're clueless about this and avoid it altogether. If some people are making millions, other people are losing or will lose millions and I don't trust I'd be on the right side of that equation.

[brian]

It's always going to be too risky.

In a sense, yes but there's a definitely a skill or a knack some people have for identifying when the bubble is about to burst. Still, even the smartest of people can lose their ass for awhile until that happens (like in "The Big Short", etc.)

[Gunpowder]

Certainly, though I do think some of those people just get lucky many of those times. I've read about people famous for a particular move getting killed in the years following.

Even if you're right, you can time it a bit off and get wiped out.

[Steve of phpBB]

Seems equally valuable to know enough to know you're clueless about this and avoid it altogether. If some people are making millions, other people are losing or will lose millions and I don't trust I'd be on the right side of that equation.

Me, too. Plus I am massively risk averse when it comes to my money.

[brian]

I'm gonna take a swing at shorting this shit, just not sure when yet and how much. But I have to try at least $2500 or so.

[Baloney]

Bitcoin mining uses more electrical energy than Argentina

https://www.iflscience.com/technology/b ... j5GEqey4j4

Tesla will no longer accept bitcoin until they find a more environmentally friendly way to mine the coin

https://www.dailymail.co.uk/news/articl ... -away.html

Sure to help dogecoin, another of his favorites

[Reaper]

"You can't take it with you" turns into "you can't leave it here."

Mircrea Popescu dies, leaving his Bitcoin billion (billions?) possibly inaccessible.

[Johnnie]

Just had a friend turn me on to a new beta mobile cryptocurrency that you can mine on mobile devices without using data or processing power. Probably won’t come to anything but seems no downside. You just have click a link once a day to prove you’re a human and not a bot. Wouldn’t have minded getting in on Bitcoin early and having 5 or 10 of them. If any of you sign up use my link below for referral bonus please.

I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/FireUpChips and use my username (FireUpChips) as your invitation code.

So, is this still legit? Been plugging away diligently every day mining this stuff. Seems like it's pointless.

[brian]

Just had a friend turn me on to a new beta mobile cryptocurrency that you can mine on mobile devices without using data or processing power. Probably won’t come to anything but seems no downside. You just have click a link once a day to prove you’re a human and not a bot. Wouldn’t have minded getting in on Bitcoin early and having 5 or 10 of them. If any of you sign up use my link below for referral bonus please.

I am sending you 1π! Pi is a new digital currency developed by Stanford PhDs, with over 10 million members worldwide. To claim your Pi, follow this link https://minepi.com/FireUpChips and use my username (FireUpChips) as your invitation code.

So, is this still legit? Been plugging away diligently every day mining this stuff. Seems like it's pointless.

Probably is pointless. But it’s supposed to moved to a platform where the “coins” are actually currency by the end of the year.

[brian]

[Pruitt3]

Cryptocurrency company accidentally transfers $10.5m to Australian woman and doesn’t notice for seven months

[tennbengal]

I still don't get crypto. At all.

[A_B]

Looks like the people that thought they did don't understand it either.

The second half of the 2nd hour of LeBatard yesterday had a pretty good primer from a guest on this latest situation.

[tennbengal]

Looks like the people that thought they did don't understand it either.

The second half of the 2nd hour of LeBatard yesterday had a pretty good primer from a guest on this latest situation.

gracias. Will cue that up now.

[rass]

Pretty sure I read this week that Michael Lewis had been following that dude around for a book so that should be an interesting last couple of chapters.

[A_B]

I'll read the shit out of that book. Only question now is if Timothee Chalamet is capable of putting on a few pounds to play this role in 4 years.

[L-Jam3]

I still don't get crypto. At all.

Did you ever hear the story of Tulip Mania? This is the 21st Century version of that.

[govmentchedda]

I'll read the shit out of that book. Only question now is if Timothee Chalamet is capable of putting on a few pounds to play this role in 4 years.

The great thing I read somewhere on Twitter yesterday was hiring actors who pushed crypto in ads to play these roles. Specifically mentioned Matt Damon adding a few pounds and playing this guy in the movie.

[sancarlos]

I'll read the shit out of that book. Only question now is if Timothee Chalamet is capable of putting on a few pounds to play this role in 4 years.

Jonah Hill?

[A_B]

This dude's 30, so I think they're all too old. Ben Schwartz (Jean Ralphio from Parks and Rec) has the look but I think he's too old, too. But hey, it's not like he's a woman, so they can hire a 50 something dude just for the name I guess.