The Bitcoin/Crypto Thread
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@klaus said in The Bitcoin/Crypto Thread:
that there is no (known) way of manipulation.
Of course there is, just get a certain percentage of the miners to act in tandem....
wrote on 7 Nov 2021, 10:51 last edited by@jon-nyc said in The Bitcoin/Crypto Thread:
@klaus said in The Bitcoin/Crypto Thread:
that there is no (known) way of manipulation.
Of course there is, just get a certain percentage of the miners to act in tandem....
Yes, the 51% attack. But that would be pretty difficult to pull off, even for a government. And even then, it's somewhat limited what one can do even when one controls the 51%. For instance, you still couldn't just steal other people's money.
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@jon-nyc said in The Bitcoin/Crypto Thread:
@klaus said in The Bitcoin/Crypto Thread:
that there is no (known) way of manipulation.
Of course there is, just get a certain percentage of the miners to act in tandem....
Yes, the 51% attack. But that would be pretty difficult to pull off, even for a government. And even then, it's somewhat limited what one can do even when one controls the 51%. For instance, you still couldn't just steal other people's money.
wrote on 7 Nov 2021, 20:00 last edited by@klaus said in The Bitcoin/Crypto Thread:
@jon-nyc said in The Bitcoin/Crypto Thread:
@klaus said in The Bitcoin/Crypto Thread:
that there is no (known) way of manipulation.
Of course there is, just get a certain percentage of the miners to act in tandem....
Yes, the 51% attack. But that would be pretty difficult to pull off, even for a government. And even then, it's somewhat limited what one can do even when one controls the 51%. For instance, you still couldn't just steal other people's money.
Also, by the way, I don't know if you've heard of "proof of stake" as an alternative to "proof of work", which is going to be deployed in a couple of crypto currencies soon - not only does it make the environmentally unfriendly "mining" unnecessary, it also makes 51% attacks much less likely because in that system you don't need 51% of the computing power but 51% of the currency - even if you'd manage to get that, you'd only shoot yourself in the foot if you'd use that position to manipulate, and hence devalue, the currency. It's quite interesting.
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wrote on 7 Nov 2021, 22:59 last edited by
I cant help but laugh..... some of the very people who have laughed at me for buying gold - not gold certificates, not gold stock, etc.. but real gold - and told me that I was crazy for basing my view of gold being a hedge against the collapse of currency.....
Are now telling us how wise they are for investing in a risky unproven digital currency because "it will be unaffected by currency collapses"....,
BWAAAAHAHAHAHAAAAAA
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wrote on 7 Nov 2021, 23:16 last edited by
I know you’re not talking about me since I’m not a crypto bug, but it’s worth pointing out that I didn’t laugh at you for buying gold, I laughed at you for telling people to sell stocks and buy gold within 48 hrs of this century’s low water mark of the S&P.
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I know you’re not talking about me since I’m not a crypto bug, but it’s worth pointing out that I didn’t laugh at you for buying gold, I laughed at you for telling people to sell stocks and buy gold within 48 hrs of this century’s low water mark of the S&P.
wrote on 7 Nov 2021, 23:23 last edited by Larry 11 Jul 2021, 23:24@jon-nyc said in The Bitcoin/Crypto Thread:
I know you’re not talking about me since I’m not a crypto bug, but it’s worth pointing out that I didn’t laugh at you for buying gold, I laughed at you for telling people to sell stocks and buy gold within 48 hrs of this century’s low water mark of the S&P.
No, I wasn't talking about you. But my advise regarding getting out of the stock market wasn't tied to any certain time frame. I just view the stock market as being barely a full notch above bitcoin as far as investment stability. I don't think anyone should put their money into other people's hands, to "buy things that they might possibly wake up one morning and find that it shit canned overnight...
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wrote on 8 Nov 2021, 00:29 last edited by Horace 11 Aug 2021, 00:29
I'd probably have some money invested in bitcoin if my brokerage transacted it. But they don't, and I'm not motivated enough to open a robinhood account.
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wrote on 8 Nov 2021, 18:08 last edited by
Woohoo! I got a $5.00 Bitcoin balance yesterday for signing up. It’s already up to $5.36!
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wrote on 8 Nov 2021, 18:25 last edited by
Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
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Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
wrote on 8 Nov 2021, 19:32 last edited by@lufins-dad said in The Bitcoin/Crypto Thread:
Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
What made you select Solana?
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@lufins-dad said in The Bitcoin/Crypto Thread:
Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
What made you select Solana?
wrote on 8 Nov 2021, 20:14 last edited by@mark said in The Bitcoin/Crypto Thread:
@lufins-dad said in The Bitcoin/Crypto Thread:
Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
What made you select Solana?
It’s probably Ethereum’s biggest competitor and can handle more transactions than Ethereum. It’s been listed in many of the top 10 lists and has shown pretty consistent growth. This is going to be a trial run for me, so I wanted a currency that would have a little bit of volatility but should at least maintain a pretty safe return. I actually got it somewhat on the cheap today, but it’s still dropped since then, lol. Ethereum is having a good day!
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wrote on 8 Nov 2021, 20:17 last edited by Klaus 11 Aug 2021, 20:19
How about we deploy a TNCR smart contract on a blockchain, such that we can all participate?
The contract can involve external data (like: what is the weather on Feb 7, 2023, what is the price of AAPL two weeks after a particular sports event happened), randomness, money, ... . Could be some sort of lottery. We could play with toy money, just for fun, and for education. Or we could see whether people put their money where their mouth is by setting up bets on election results etc.
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wrote on 8 Nov 2021, 20:24 last edited by
Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.
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wrote on 9 Nov 2021, 00:20 last edited by
Just reached my first $1.00… 1% in 6 hours….
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Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.
wrote on 9 Nov 2021, 00:35 last edited by@doctor-phibes said in The Bitcoin/Crypto Thread:
Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.
Exactly.
What the actual hell are you guys talking about?
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@doctor-phibes said in The Bitcoin/Crypto Thread:
Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.
Exactly.
What the actual hell are you guys talking about?
wrote on 9 Nov 2021, 00:51 last edited by@george-k said in The Bitcoin/Crypto Thread:
@doctor-phibes said in The Bitcoin/Crypto Thread:
Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.
Exactly.
What the actual hell are you guys talking about?
I’m not totally convinced they know, either
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Just reached my first $1.00… 1% in 6 hours….
wrote on 9 Nov 2021, 01:22 last edited by@lufins-dad said in The Bitcoin/Crypto Thread:
Just reached my first $1.00… 1% in 6 hours
That's 4% per day.
28% per week
Nice
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@mark said in The Bitcoin/Crypto Thread:
@lufins-dad said in The Bitcoin/Crypto Thread:
Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
What made you select Solana?
It’s probably Ethereum’s biggest competitor and can handle more transactions than Ethereum. It’s been listed in many of the top 10 lists and has shown pretty consistent growth. This is going to be a trial run for me, so I wanted a currency that would have a little bit of volatility but should at least maintain a pretty safe return. I actually got it somewhat on the cheap today, but it’s still dropped since then, lol. Ethereum is having a good day!
wrote on 9 Nov 2021, 03:54 last edited by@lufins-dad said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@lufins-dad said in The Bitcoin/Crypto Thread:
Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
What made you select Solana?
It’s probably Ethereum’s biggest competitor and can handle more transactions than Ethereum. It’s been listed in many of the top 10 lists and has shown pretty consistent growth. This is going to be a trial run for me, so I wanted a currency that would have a little bit of volatility but should at least maintain a pretty safe return. I actually got it somewhat on the cheap today, but it’s still dropped since then, lol. Ethereum is having a good day!
Just bought a little Solana. I am limiting my purchases by not linking any payment methods that permit large transactions. We will see where these little gambles go for a while.
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@george-k said in The Bitcoin/Crypto Thread:
@doctor-phibes said in The Bitcoin/Crypto Thread:
Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.
Exactly.
What the actual hell are you guys talking about?
I’m not totally convinced they know, either
wrote on 9 Nov 2021, 04:01 last edited by@doctor-phibes said in The Bitcoin/Crypto Thread:
@george-k said in The Bitcoin/Crypto Thread:
@doctor-phibes said in The Bitcoin/Crypto Thread:
Reading this thread makes me understand how my grandparents felt when they tried to program the VCR.
Exactly.
What the actual hell are you guys talking about?
I’m not totally convinced they know, either
My theory is that "bitcoin" and "cryptocurrency" is, at the end of the day, just Chinese MMO gold farming.
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@lufins-dad said in The Bitcoin/Crypto Thread:
@mark said in The Bitcoin/Crypto Thread:
@lufins-dad said in The Bitcoin/Crypto Thread:
Okay, I put the money I had set aside for one of Karla’s Christmas Gifts on Solana. Let’s see if she is getting new EarPods, a diamond necklace, or a lovely card for Christmas…
What made you select Solana?
It’s probably Ethereum’s biggest competitor and can handle more transactions than Ethereum. It’s been listed in many of the top 10 lists and has shown pretty consistent growth. This is going to be a trial run for me, so I wanted a currency that would have a little bit of volatility but should at least maintain a pretty safe return. I actually got it somewhat on the cheap today, but it’s still dropped since then, lol. Ethereum is having a good day!
Just bought a little Solana. I am limiting my purchases by not linking any payment methods that permit large transactions. We will see where these little gambles go for a while.
wrote on 9 Nov 2021, 04:16 last edited by@mark I have mine set that I have to authorize every transaction. This feels like the Wild West or the very first days of the Dow Jones…
The Brad
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wrote on 9 Nov 2021, 09:40 last edited by Klaus 11 Sept 2021, 10:35
Now that I've learned more about the whole thing and have programmed a few smart contracts myself, I've also bought some Ethereum. This whole distributed finance thing looks really cool, I must say. Time to buy some non-fungible tokens!
