Page 1 of 139 1 2 3 4 5 6 ... LastLast
Results 1 to 25 of 3457
  1. #1
    Join Date
    May 2002
    Posts
    29,583

    Bitcoin....who's gotten into it?

    It's fucking with central banks. It's value has increased exponentially. It's every bit as virtual as the paper the banks give you.
    Paypal considering using it. Schmidt and Gates say its good. Being incorporated into browsers. This is some trip shit.
    Who has some firsthand experience with it? Is it like the pyramid parties of the 70's?

  2. #2
    Join Date
    May 2002
    Posts
    29,583
    Fuck. China national bank approved it today.
    It is hard to imagine that something that has exponentially appreciated at 130,000% of it's original value hasn't already peaked.
    Saw there was a bitcoin convention in Vegas last week.
    If I had bought low, I prolly coulda used a bitcoin to book the trip.

  3. #3
    Join Date
    May 2002
    Posts
    29,583
    Real time value:

    http://preev.com/

  4. #4
    Join Date
    Jan 2003
    Location
    nh
    Posts
    8,247
    Bump

    Are all the exchanges the same rate?
    People should learn endurance; they should learn to endure the discomforts of heat and cold, hunger and thirst; they should learn to be patient when receiving abuse and scorn; for it is the practice of endurance that quenches the fire of worldly passions which is burning up their bodies.
    --Buddha

    *))
    ((*
    *))
    ((*


    www.skiclinics.com

  5. #5
    Join Date
    Mar 2006
    Posts
    14,919
    Quote Originally Posted by Tuckerman View Post
    Bump

    Are all the exchanges the same rate?

    No.

  6. #6
    Join Date
    Feb 2009
    Location
    Mental Vacation!
    Posts
    1,970
    So what's the status of Bitcoin a year later?

  7. #7
    Join Date
    Jan 2003
    Location
    nh
    Posts
    8,247
    Quote Originally Posted by Labcabin View Post
    So what's the status of Bitcoin a year later?
    preev.com
    People should learn endurance; they should learn to endure the discomforts of heat and cold, hunger and thirst; they should learn to be patient when receiving abuse and scorn; for it is the practice of endurance that quenches the fire of worldly passions which is burning up their bodies.
    --Buddha

    *))
    ((*
    *))
    ((*


    www.skiclinics.com

  8. #8
    Join Date
    Apr 2014
    Posts
    569
    Until I can buy a quart of Steel Reserve at 7-11 with it, fuck that shit.

  9. #9
    Join Date
    Mar 2006
    Posts
    14,919
    co-worker is actively trading it. Transactions costs are high on Bitstamp.

  10. #10
    Join Date
    Sep 2001
    Location
    The Cone of Uncertainty
    Posts
    47,277
    Quote Originally Posted by puregravity View Post
    Wow. I was not aware of most of that craziness.

  11. #11
    Join Date
    Oct 2009
    Location
    seatown
    Posts
    3,218
    what is DevOps?

  12. #12
    Join Date
    Sep 2001
    Location
    The Cone of Uncertainty
    Posts
    47,277
    It's crazy about the whole Mt. Gox thing, as I read it ~$350MM in btc vanished into thin air (well, into someone's pockets).

    I was thinking about this last night, the whole "anonymous founder" business...I'm sure it's far-fetched but who better than the founder to insert code into the system that acts like a key and gives a back door into the servers? And if there was such a key, and it was used to get into Mt. Gox and he pulled all that money out...well no one knows who the hell he is! Very mysterious. Would make a great plot for a novel, the kind of thing Dan Brown might write.

  13. #13
    Join Date
    Dec 2003
    Location
    Tech Bro Central
    Posts
    2,858
    Quote Originally Posted by shroom View Post
    what is DevOps?
    Folks who both develop software and also operate the servers & systems on which that software runs.

  14. #14
    Join Date
    Oct 2008
    Location
    Colorado
    Posts
    2,853
    Funny thing about this thread is that Splat(or someone) deleted everyone's posts on the first page or two except for Splat's.
    .

    Bitcoin - I still don't get it. Its backed by no one and we're just supposed to believe in the magical powers of good developers over evil developers...yeah right.

  15. #15
    Join Date
    Oct 2009
    Location
    seatown
    Posts
    3,218
    hahahaha solid wording PG. I like to throw the same question at my execs and see what answer gets shit out.

    Chef is my thang.

  16. #16
    Join Date
    Jan 2009
    Location
    907
    Posts
    10,416
    Quote Originally Posted by shroom View Post
    hahahaha solid wording PG. I like to throw the same question at my execs and see what answer gets shit out.

    Chef is my thang.

    Tighter and more modular than Puppet, but that's not saying much...

    Be advised: INTPs play with fire when they seek to humble their judgmental superiors.

    Played with BTC last year, shoulda went bigger.

  17. #17
    Join Date
    Nov 2003
    Location
    Stuck in perpetual Meh
    Posts
    35,276
    Quote Originally Posted by Kinnikinnick View Post
    Funny thing about this thread is that Splat(or someone) deleted everyone's posts on the first page or two except for Splat's.
    .

    Bitcoin - I still don't get it. Its backed by no one and we're just supposed to believe in the magical powers of good developers over evil developers...yeah right.
    Seriously - I don't even get the fundamentals, much less the specifics of how this is a unit of value.

    Mining? Huh?

    Cryptocurrency? What?

  18. #18
    Join Date
    Jan 2009
    Location
    907
    Posts
    10,416
    Quote Originally Posted by Tippster View Post
    Seriously - I don't even get the fundamentals, much less the specifics of how this is a unit of value.

    Mining? Huh?

    Cryptocurrency? What?

    Think about most of the reasons precious metals have historically been valued above their practical usefulness, and you'll catch on pretty quick.



  19. #19
    Join Date
    Nov 2003
    Location
    Stuck in perpetual Meh
    Posts
    35,276
    Quote Originally Posted by highangle View Post
    Think about most of the reasons precious metals have historically been valued above their practical usefulness, and you'll catch on pretty quick.


    That honestly doesn't help either. I get that Metals may be valuable because they're:

    1. Rare
    2. Hard to refine
    3. Useful

    1/3 = has a value. 2/3 = more value. 3/3 = most value

    Bitcoins are just a construct, vaporware, within a community. The lie of them was shown by the "invention" of Dogecoin which actually got some traction. It just seems to me to be an arbitrarily created monetary unit with a small community "certifying" its value, kinda like Vanuatu's currency, but with less GDP suporting it.

  20. #20
    Join Date
    Jan 2009
    Location
    907
    Posts
    10,416

    W2P

    Quote Originally Posted by Tippster View Post
    That honestly doesn't help either. I get that Metals may be valuable because they're:

    1. Rare
    2. Hard to refine
    3. Useful

    1/3 = has a value. 2/3 = more value. 3/3 = most value

    Bitcoins are just a construct, vaporware, within a community. The lie of them was shown by the "invention" of Dogecoin which actually got some traction. It just seems to me to be an arbitrarily created monetary unit with a small community "certifying" its value, kinda like Vanuatu's currency, but with less GDP suporting it.

    "Rare" is enough. "Reliably rare" is even better. Hence "cryptocurrency", or "Hard to refine" in your statement.
    The entire supply of refined gold would probably fit in your home. The entire above-ground supply of platinum and palladium definitely would. This is unlikely to change by much any time soon.

    "Useful" doesn't mean near as much as a driver of value, other than that it affects the demand side of the old theorem. "Perception", however, very much does.

    All mediums of exchange are simply markers, "Vaporware", if you must. What's a dollar? OK then, what's a penny?... See?

  21. #21
    Join Date
    Nov 2003
    Location
    Stuck in perpetual Meh
    Posts
    35,276
    OK, but gold, Platinum, and Palladium are tangible things that we have ascribed value to based on their rarity or usefulness. Bitcoins are not tangible - then again neither is the US $ - but at least the Dollar, Euro, etc. have the backing of their central banks and governments. We have socially underwritten their value. Essentially the value of a currency is based on the people who hold it - a tangible group. Bitcoin is "cryptocurrency" so their is no quid-pro-quo implied in holding it, at least not a tangible one. I cannot claim you owe me 1000Bitcoins in court for services rendered, because it isn't a tangible currency.

  22. #22
    Join Date
    Feb 2005
    Posts
    11,839
    Bitcoin as an idea is wonderful, but as it currently, no pun intended, exists, is a scary mess.

    I'm all for a legit virtual and traded currency. Bitcoin, if I even could afford to have some, isn't it.

  23. #23
    Join Date
    Jan 2009
    Location
    907
    Posts
    10,416
    Quote Originally Posted by Tippster View Post
    OK, but gold, Platinum, and Palladium are tangible things that we have ascribed value to based on their rarity or usefulness. Bitcoins are not tangible - then again neither is the US $ - but at least the Dollar, Euro, etc. have the backing of their central banks and governments. We have socially underwritten their value. Essentially the value of a currency is based on the people who hold it - a tangible group. Bitcoin is "cryptocurrency" so their is no quid-pro-quo implied in holding it, at least not a tangible one. I cannot claim you owe me 1000Bitcoins in court for services rendered, because it isn't a tangible currency.



    You can't claim I owe you 1000 oz of gold, or oil (or face shots) either, unless we have a valid contract that specifies gold or oil (or face shots) as a medium of consideration.
    "Legal tender" is a different issue from "Value" or "Inherent Worth".

    Money is a construct of convenience. The Meter may be defined in terms of the construct "time" and the self-referential speed of light in a theoretical vacuum, but it's still a very practical construct. And if we hadn't settled on it, we'd have settled on something else just as arbitrary. All measurement systems are constructs.

    Also, a big part of the appeal of cryptocurrencies is that they take power away from The Establishment. Something you can't do with gold, or dollars, or MBSs...

  24. #24
    Join Date
    Feb 2005
    Posts
    11,839
    Quote Originally Posted by highangle View Post
    Also, a big part of the appeal of cryptocurrencies is that they take power away from The Establishment. Something you can't do with gold, or dollars, or MBSs...
    Agreed, but you miss Tipp's point about what's behind it. Investor confidence, like personal looks in the eye, means a lot for stability. The link that was posted up earlier showing the volatility, coupled with the shady origins, should make even the most calm person freak out.

  25. #25
    Join Date
    Jan 2009
    Location
    907
    Posts
    10,416
    Quote Originally Posted by MakersTeleMark View Post
    Agreed, but you miss Tipp's point about what's behind it. Investor confidence, like personal looks in the eye, means a lot for stability. The link that was posted up earlier showing the volatility, coupled with the shady origins, should make even the most calm person freak out.

    I didn't miss that. I said that all measurements are constructs of convenience...they're all vaporware, even if they're backed by gold or silver in a vault somewhere, or the speed of light. (Relative volatility is a side issue altogether.)

    Backing a currency with silver or gold is just kicking the can. "What's a penny?" There is not an absolute answer, only theories.
    Just because $$ is a man-made construct we came up with as a replacement for killing each other doesn't mean it's not "real".


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •