The Bitcoin/Crypto Thread
-
wrote on 5 Dec 2024, 21:29 last edited by
But blockchains those are real! And are needed to do… stuff! Important stuff! Like… crypto security! Yeah! You need blockchains to protect your information on crypto markets, so you should definitely invest into crypto markets because you’ll need them to keep safe on the crypto markets!
-
wrote on 7 Dec 2024, 01:27 last edited by
A lawyer was talking about the "Hawk Tuah" crypto thing.
"Someone lost a lot of money and said, 'I really don't understand how crypto works.' Well, guess what, you don't have to know how a blender works to not stick your dick in it."
-
wrote on 8 Dec 2024, 12:44 last edited by Axtremus 12 Aug 2024, 12:45
https://arstechnica.com/tech-policy/2024/12/teen-creates-memecoin-dumps-it-and-earns-50000/
Teen creates memecoin, dumps it, earns $50,000
This being a zero-sum game, the teen "earns" $50,000 means other people "lose" $50,000 elsewhere.
After all these years, it seems cryptocurrencies still have only one application: speculation.
-
A lawyer was talking about the "Hawk Tuah" crypto thing.
"Someone lost a lot of money and said, 'I really don't understand how crypto works.' Well, guess what, you don't have to know how a blender works to not stick your dick in it."
wrote on 8 Dec 2024, 13:18 last edited by@George-K said in The Bitcoin/Crypto Thread:
A lawyer was talking about the "Hawk Tuah" crypto thing.
"Someone lost a lot of money and said, 'I really don't understand how crypto works.' Well, guess what, you don't have to know how a blender works to not stick your dick in it."
Outstanding observation.
-
https://arstechnica.com/tech-policy/2024/12/teen-creates-memecoin-dumps-it-and-earns-50000/
Teen creates memecoin, dumps it, earns $50,000
This being a zero-sum game, the teen "earns" $50,000 means other people "lose" $50,000 elsewhere.
After all these years, it seems cryptocurrencies still have only one application: speculation.
wrote on 8 Dec 2024, 13:18 last edited by@Axtremus said in The Bitcoin/Crypto Thread:
https://arstechnica.com/tech-policy/2024/12/teen-creates-memecoin-dumps-it-and-earns-50000/
Teen creates memecoin, dumps it, earns $50,000
This being a zero-sum game, the teen "earns" $50,000 means other people "lose" $50,000 elsewhere.
After all these years, it seems cryptocurrencies still have only one application: speculation.
That is certainly how it seems to me.
-
wrote on 8 Dec 2024, 13:44 last edited by
What ultimately gives fiat currencies value is that governments require you to use them to pay taxes. No such equivalent for crypto.
-
https://arstechnica.com/tech-policy/2024/12/teen-creates-memecoin-dumps-it-and-earns-50000/
Teen creates memecoin, dumps it, earns $50,000
This being a zero-sum game, the teen "earns" $50,000 means other people "lose" $50,000 elsewhere.
After all these years, it seems cryptocurrencies still have only one application: speculation.
wrote on 8 Dec 2024, 13:46 last edited by@Axtremus said in The Bitcoin/Crypto Thread:
https://arstechnica.com/tech-policy/2024/12/teen-creates-memecoin-dumps-it-and-earns-50000/
Teen creates memecoin, dumps it, earns $50,000
This being a zero-sum game, the teen "earns" $50,000 means other people "lose" $50,000 elsewhere.
After all these years, it seems cryptocurrencies still have only one application: speculation.
You forgot money laundering.
-
wrote on 8 Dec 2024, 15:21 last edited by
It is speculating, but it’s not blind speculation. Emerging blockchain technologies do look to have very promising applications in secure data transfer. Healthcare systems are looking at using it for faster and more secure methods of transferring patient data, banks and credit card processors are investing into it for better and more secure financial transactions. There are applications that could make blockchains one of the most critical technologies developed in first half of the century, which could have significant financial implications. Tossing a few bucks into the pot doesn’t necessarily hurt. Especially with a pro-crypto admin coming in.
-
wrote on 8 Dec 2024, 15:28 last edited by mark 12 Aug 2024, 15:29
My "investment" or "wager" in Shiba Inu is currently almost twice what I have invested. I am waiting this cycle out, to see if it gets close to ATH. If it does I will cash out with 2 - 3 x the "lunch money investment" I made and still have 40 million of them
for which I will have spent zero "real coins"I have already cashed in 50% of my original wager in fiat dollars issued by the Federal Reserve Bank.
-
It is speculating, but it’s not blind speculation. Emerging blockchain technologies do look to have very promising applications in secure data transfer. Healthcare systems are looking at using it for faster and more secure methods of transferring patient data, banks and credit card processors are investing into it for better and more secure financial transactions. There are applications that could make blockchains one of the most critical technologies developed in first half of the century, which could have significant financial implications. Tossing a few bucks into the pot doesn’t necessarily hurt. Especially with a pro-crypto admin coming in.
wrote on 8 Dec 2024, 15:31 last edited by@LuFins-Dad said in The Bitcoin/Crypto Thread:
It is speculating, but it’s not blind speculation. Emerging blockchain technologies do look to have very promising applications in secure data transfer. Healthcare systems are looking at using it for faster and more secure methods of transferring patient data, banks and credit card processors are investing into it for better and more secure financial transactions. There are applications that could make blockchains one of the most critical technologies developed in first half of the century, which could have significant financial implications. Tossing a few bucks into the pot doesn’t necessarily hurt. Especially with a pro-crypto admin coming in.
I don’t see the connection between the general value of an algorithm and the value of an application of that algorithm into a gambling game. The gambling game might still be useless.
-
What ultimately gives fiat currencies value is that governments require you to use them to pay taxes. No such equivalent for crypto.
wrote on 8 Dec 2024, 15:35 last edited by@jon-nyc said in The Bitcoin/Crypto Thread:
What ultimately gives fiat currencies value is that governments require you to use them to pay taxes. No such equivalent for crypto.
Slightly imprecise framing IMO. I would say that fiat currencies have value because they are defined as valuable by entities with authority to impose violence on you, if you do not provide them that value upon request.
-
wrote on 3 Feb 2025, 13:02 last edited by
https://fortune.com/crypto/2025/01/30/errol-musk-memecoin-elon-tesla-donald-trump-crypto/
Elon Musk’s father Errol looks to monetize his famous name with ‘Musk It’ memecoin: ‘I’m the head of the family’
-
wrote on 29 Mar 2025, 02:10 last edited by
A close look into a cryptocurrency Ponzi scheme that took a town in Argentina, one of hundreds such schemes around the world.
