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  1. #5351
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    Huh. Hadn't really thought about it before, but it seems ironic that backing deposits with stablecoins like Tether and USDC have a lot in common with the fiat printing Fed.

    And I can see why scaling any kind of centralized exchange, be it our legacy banking system, Bitfinex, or Coinbase, is hard. Thus the original BTC whitepaper.

    But there are some serious parallels there.

  2. #5352
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    I feel like I can hang my hat on bitcoin, it feels solid under my feet. But I am trying to learn about the larger picture, including defi. This sort of thing helps me respect the future of the space:

    We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed. That’s why today we’re pleased to announce a new $2.2 billion fund to continue investing in crypto networks and the founders and teams building in this space.
    https://a16z.com/2021/06/24/crypto-fund-iii/
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  3. #5353
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    Quote Originally Posted by shera View Post
    I feel like I can hang my hat on bitcoin, it feels solid under my feet. But I am trying to learn about the larger picture, including defi. This sort of thing helps me respect the future of the space:

    We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed. That’s why today we’re pleased to announce a new $2.2 billion fund to continue investing in crypto networks and the founders and teams building in this space.
    https://a16z.com/2021/06/24/crypto-fund-iii/

    1) Crypto is a way to radically distribute wealth from those corporate billionaires to the common man!

    also:

    2) Look at all these corporate billionaires getting involved! That's how you know it's a good idea!


    Everyone is talking their book.

  4. #5354
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    Quote Originally Posted by Skidog View Post
    Sure sounded to me like dude is actually a dev that understands this better than many here.

    Money making aside, his arguments are typically to the point, with some data, and rarely confrontational. Bitcoin ain't the USD replacement.

    Also PAG loves to play devil's advocate.

    Sent from my Pixel 4a (5G) using TGR Forums mobile app
    At least someone is paying attention
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  5. #5355
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    Quote Originally Posted by JimmyCarter View Post
    1) Crypto is a way to radically distribute wealth from those corporate billionaires to the common man!

    also:

    2) Look at all these corporate billionaires getting involved! That's how you know it's a good idea!


    Everyone is talking their book.
    YOU ARE WRONG. THIS CAN'T POSSIBLY BE A SCAM. I KNOW SOMEONE THAT KNOWS SOMEONE that knows someone THAT MADE MILLIONS.

    HTML Code:
     // code for above
    Millionaire person = knows_someone( knows_someone( knows_someone( knows_someone( null ))));
    Last edited by pureantigravity; 07-02-2021 at 05:39 PM.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  6. #5356
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    This is a very good moment to move whatever crypto you hold on Binance off to a wallet you control or to another more reputable exchange. Pronto. Go directly; do not pass go, do not collect $200. Get it done. Do it for your sanity and to protect what you still have. Even the Cayman Islands (the Cayman_fucking_Islands) is warning in a press release. Listen to Nike. Just do it. Do it now.

    "Binance Holdings Limited, the world’s largest cryptocurrency exchange conceived of an elaborate corporate structure designed to intentionally deceive regulators and surreptitiously profit from crypto investors in the United States, according to a document thought to be created by a senior executive and obtained by Forbes."

    Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators
    https://www.forbes.com/sites/michael...h=55b84cd02a92


    ---------------------------------------
    edit: also a little bit of Binance.US happenstance from May's mania period.
    ‘So Many Locked Out’: Binance Users Say Their Accounts Have Been Frozen for Months
    https://finance.yahoo.com/news/many-...200452740.html
    Last edited by pureantigravity; 07-02-2021 at 06:12 PM.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  7. #5357
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    Psycho.
    I ski 135 degree chutes switch to the road.

  8. #5358
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    Dec 2005
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    11,145
    Say what you want about crypto haters, skeptics, adopters, and the blindly devout - one thing that unites us all is our agreement that puregravity is batshit crazy.

  9. #5359
    Join Date
    Nov 2005
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    Quote Originally Posted by shera View Post
    This sort of thing helps me respect the future of the space:

    We believe that the next wave of computing innovation will be driven by crypto. We are radically optimistic about crypto’s potential to restore trust and enable new kinds of governance where communities collectively make important decisions about how networks evolve, what behaviors are permitted, and how economic benefits are distributed. That’s why....
    I'm not calling you dumb or anything here, but I'm curious how you set your BS meter when someone describes a philosophical position that you find attractive. The above seems to have a lot of parallels these days for people looking to find like minds in politics, religion, epidemiology and crypto. If it's harder to avoid the scam that starts off defending your favorite presidential candidate or the like, that might be the easiest scam to run, so maybe the most important one to watch for. Which doesn't mean everyone we agree with is wrong, of course. So how do you filter that?

  10. #5360
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    Quote Originally Posted by TahoeJ View Post
    Psycho.
    Welcome to my freak show, come meet my monsters Oh, such a fine collection of stranger things. We will start with Tether. No ... wait! How about a stablecoin that isn't like Tethers or USDC?

    Presenting Fidelity SPAXX. You can read about all the FUD-proof features it has here from the Rt. Hon. Bitfinex’ed:

    The Fidelity Stablecoin that does what so-called ‘Stablecoin’ issuers claim is impossible!
    https://bitfinexed.medium.com/the-fi...e-58148252a689

    You will know what is fake from knowing what is real. Praise . This is the real deal. Now you can spot the fake garbage real easy. But most importantly, now you can spot the real deal. #Such wow. #Many thanks.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  11. #5361
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    Good news. They can't sell. Price goes up!

    "The dust hasn’t even settled on the collapse of the IRON stable coin —$262 million in USDC collateral is still locked in a smart contract due to an embarrassing programming bug"

    https://irony-97882.medium.com/the-m...n-89469b01e083
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  12. #5362
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    Jan 2005
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    Access to Granlibakken
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    ^ thanks for that Medium article. Thanks to this thread & the reading directions it’s taken me, I’m almost inadvertently getting pretty familiar with the field.

  13. #5363
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    Quote Originally Posted by frorider View Post
    ^ thanks for that Medium article. Thanks to this thread & the reading directions it’s taken me, I’m almost inadvertently getting pretty familiar with the field.
    Glad it helps
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  14. #5364
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    Go GIRLS! Bitcoin incentivizes the further development of the Wolfram language. This hottie just busted the Colonial Pipeline ransomware hackers via statistical and network analysis and enabled the FBI to thwart the ransom payment.

    https://blog.wolfram.com/2021/06/09/...s-the-hackers/

    "In my May 25, 2021, blog post “Sleuthing DarkSide Crypto-Ransom Payments with the Wolfram Language,” I detailed how I used the Wolfram Language, public knowledge and some guesswork to track crypto-ransom payments made by Colonial Pipeline on May 8 and Brenntag on May 11 to the Russian hacker group DarkSide. These payments, which totaled millions of dollars, were subsequently distributed to different accounts, and on May 13, DarkSide announced it was disbanding.

    But the story didn’t end when DarkSide announced its dissolution.

    On June 7, the FBI seized 63.7 bitcoin (BTC), approximately $2.3 million USD, from one of the addresses to which DarkSide’s cluster, described in my earlier post, sent their ransom funds. Normally, this should have been inaccessible to anyone without a private key for that address. The FBI apparently managed, however, to obtain one."

    Name:  XkEMfuo.png
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    "Did the FBI run a brute-force attack on a billion-dollar supercomputer to find the private key? For the elliptic curve secp256k1, which Bitcoin is based on, the number of possible private keys for a particular public key is approximately:

    IntegerName[2^128, "Approximate"]
    Out = 340 billion billion billion ....

    Looking at that number, an exhaustive search does not appear plausible. But the FBI surely has its own ways around such obstacles."
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  15. #5365
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    Dec 2004
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    Where the sheets have no stains
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    Fuck this.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

    "Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"

  16. #5366
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    Brazil’s ‘Bitcoin King’ arrested for 'unbanking the banked' with over 7,000 missing BTC. LOL. Only $245 million. Amateurs!
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  17. #5367
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    "In July, a significant amount of BTC will be unlocked from the Grayscale Bitcoin Trust (GBTC). Some analysts have already pegged this event as bearish. However, our team will explain why this may end up being a non-event, or even a bullish catalyst."
    ~Kraken Intelligence

    Are a lot of BTC about to be sold? Isn't that always a bullish catalyst? LOL.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  18. #5368
    Join Date
    Jul 2021
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    1
    I’m a stupid spammer and I just got pwned by the moderators.

    Thanks to all of the maggots for reporting these posts!
    Last edited by ill-advised strategy; 07-06-2021 at 08:57 AM.

  19. #5369
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    Oct 2006
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    Bellevue
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    7,431
    A special tgr crossover of two endless topics, bitcoin and upstate.
    https://www.businessinsider.com/bitc...hot-tub-2021-7

    A controversial bitcoin mining operation has made a New York lake 'so warm you feel like you're in a hot tub'

    Local residents have blamed bitcoin mining for heating up the largest of the Finger Lakes in upstate New York, with one saying it's "so warm you feel like you're in a hot tub," according to a report by NBC News.

    Their complaints centre on a gas-fired power plant that's being used to power at least 8,000 bitcoin mining computers. The plant draws water from Seneca Lake for cooling, then discharges the warmed water back into the lake.

    ....

    The power plant, Greenidge, which is being closely monitored by the Department of Environmental Conservation, is allowed to suck in 139 million gallons of water and discharge 135 million gallons daily. The discharged water can be as hot as 108 degrees in the summer and 86 degrees in winter, per permit documents viewed by NBC News.

  20. #5370
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    alert: https://ethgasstation.info/ is showing very high ETH fees. Something is happening. 46 gwei for standard transaction is very high. Something is afoot.
    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  21. #5371
    Join Date
    Feb 2005
    Posts
    19,201
    I paid like 4-5 bucks for an eth transaction yesterday. Lowest I can remember in a very long time unclefud.
    Is it radix panax notoginseng? - splat
    This is like hanging yourself but the rope breaks. - DTM
    Dude Listen to mtm. He's a marriage counselor at burning man. - subtle plague

  22. #5372
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    Quote Originally Posted by MakersTeleMark View Post
    I paid like 4-5 bucks for an eth transaction yesterday. Lowest I can remember in a very long time unclefud.
    You are right. It is a lot less -on the 7 day moving average- than it has been the last few months. That's why I was surprised to see gas price pump up, and the ETH price also had some action too. Going from 8-12 gwei to 46 gwei for a standard transaction is notable. It just wouldn't be caught by the casual observer. So what is happening? Are people swapping ETH chain tokens for ETH and trying to move them to safety? Or something else? Just a hunch. Something is happening. Incidentally the fees on ETH also indicate how bearish the market is.


    Name:  Ogvua0G.png
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    OH, MY GAWD! ―John Hillerman  Big Billie Eilish fan.
    But that's a quibble to what PG posted (at first, anyway, I haven't read his latest book) ―jono
    we are not arguing about ski boots or fashionable clothing or spageheti O's which mean nothing in the grand scheme ― XXX-er

  23. #5373
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    Nov 2002
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    Behind the Zion Curtain
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    4,875
    Just shut up.

  24. #5374
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    Feb 2005
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    It's like watching a shade tree mechanic rebuild an engine with a crescent wrench.
    Is it radix panax notoginseng? - splat
    This is like hanging yourself but the rope breaks. - DTM
    Dude Listen to mtm. He's a marriage counselor at burning man. - subtle plague

  25. #5375
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    SLC, Utah
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    Quote Originally Posted by MakersTeleMark View Post
    It's like watching a shade tree mechanic rebuild an engine with a crescent wrench.
    MTM with the perfect visual metaphor.


    Sent from my Pixel 4a (5G) using Tapatalk

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