Imagine making fun of Scientology back when it only had a few hundred members?
Well there are millions now! With churches in every country, Scientology now even runs ads during the Superbowl! Do you still question the fact that Xenu put nuclear bombs in volcanos? Do you still refuse to use e-meters to clear yourself of body thetans?
I know that when *I* want technical or financial advice, I get it from someone who knows three total insults and uses them with the grace and competence of an emotionally stunted 12 year old.
Crypto bros really shouldn't tell people to learn about computing. The more people that understand how trashy blockchain technology actually is the harder it will be to hype your ponzi coins to people.
>How about you read a book for once
How about *you* start the process - allow me to recommend some reading material:
* [Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts](https://www.amazon.com/Attack-50-Foot-Blockchain-Contracts/dp/1974000060/)
* [Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud](https://www.amazon.com/Easy-Money-Cryptocurrency-Casino-Capitalism/dp/1419766392/)
* [Number Go Up: Inside Crypto's Wild Rise and Staggering Fall](https://www.amazon.com/Number-Go-Up-Cryptos-Staggering/dp/0593443810/)
Haha you fools won’t buy Enron stock? Even after the stock continues to gain in value year over year? Even after institutional investors have entered? After it’s being included in IRAs?
And just wait till they hear about Bernard L. Madoff Investments LLC! They've been going up and up since 1960, the returns are insane. You gotta sign up bro, Bernie's a financial genius!
Because they know they're years late and need to find as many new fools (Pyramid) as they can. While delusional long-term Bitcoin Maxis (think Max Keiser types) know these newer holders will never touch their holding amount and become less vocal/need to get vocal as much on average.
You always know a new bag holder by how loud they're screaming about the Koolaide. 🤣
I've already sold what amounts to my initial capital. If I'm gambling, I'm using house money at this point. Feels good. Let me show you the receipts. Dm me.
You are still just gambling mate, no one gives a shit about the gains of a degenerate gambler whether they had gains or not.
You will speculate on another shitty asset that you are uneducated and stupid to understand and will lose it all.
This loser is so obsessed with trying to “DM people his gains” lol. He pulled the same shit on me. So rich and successful but so desperate for validation.
The screenshots are my coinbase balances. Still unrealized. I have sold a decent amount since 2017 that has all been spent or reinvested. No screenshots. Dm me bro. Let me show you
I really don't need to see any screenshots. If you sold and made some money, good for you! I hope you make all the money you need, but this shit is most definitely a rigged game at a casino.
My Dad won $25K on a slot machine.
In the last 5 years he likely lost $100K. But yes he did win once.
So?
Some gamblers do win at the Casino. What does it prove?
You're actually very late. So Butters understand this is the last "bull run" cycle they will see with said temporary returns. What do you guys think is going to happen post institutional hegemony?
Again no one is stopping you. I say you leverage your Mortgage/house and go all in on Bitcoin at $60K, you're so early bro! It's only been 15 years! Soooooo early! 🤣
See pinned post please. Nobody here cares how high the number goes. To make an analogy, plenty of idiot politicians receive lots of votes also, doesn't mean they aren't idiots.
I was thinking about that post and I think these threads pop up because the price is one of the only pieces of info they can ever point at. All the other points people have made like the fees, transaction times, energy usage, no adoption, lack of consumer safety, etc. can't be argued well so the one thing they cling onto is "look, the price is up!"
I thought of an analogy too lol. It's like a car having flat tires, a cracked windshield, oil spilling out of the bottom, and the resale value is low, and then when the resale value goes up, they point at that and say "See!? It's a good car!!"
I just can't understand your argument. Your position is, hey don't buy Amazon. Then every year Amazon gains in value. At some point, when do you say, "maybe I was wrong on this one."
Once there's investors the obvious thing that matters is what are they investing in.
Amazon is a business that makes money off of customers.
If the only thing you have is investors, then they can only make money off of other investors, which is how you get people accusing it of being a Ponzi scheme.
There's definitely a fascist/racist mentality/tone to many of these "Libertarian" Crypto Bros. Very BoredApe edgelord incel 4-chan bigot "degenerate" archetypes.
A lot of Peter Thiel like pedo types to considering last cycles "Cryptoland." An island where holder were hoping for no "age of consent" laws...
A lot of anti-social types that think scamming people are so "based." "Hey Bro', that's crypto."
You realize bitcoin hit $60k before then proceeded to lose 2/3 of its value, right?. You totally aren't being taken for a ride by wash traders, totally not that.
That's just the flip side of the gamblers fallacy.
You make decisions based on the quality of limited information you have. Sometimes you've got pocket aces and you play them expertly and lose a fortune to a suckout on the last card. Sometimes you stupidly overplay shitty hole cards and win a huge pot.
The first play was still the right move even though you lost. The second play was still stupid even though you won.
I still believe crypto is a bad idea, and a bubble that will eventually correct itself. Because I believe that, it would be stupid to go against my own good sense -- even if suckers get rich by being lucky suckers, they're still suckers.
I'm not going to *regret* having made the right choice, independent of its eventual outcome.
Well if we're cherry picking time periods, I'll pick a winning lottery number or perfect market timing on TQQQ.
Did you buy your Bitcoin when it was 10 cents? No? That's what I thought.
9k-22k but even that yields more than 300% what’s ur point..? Fbook is also way more mature w/ respect to overall TAM…BTC has way more room to run. Do me a favor though, assuming u have offspring, please take a video of the moment ur kids/ grandkids ask u “why didn’t you buy BTC” and record their disappointed reactions. I’d give u my stack just to see that 😭
20k-60k is precisely 300% you dumbass.
That said Meta went up closer to 500% since October 2022.
Leveraged ETFs and cherry picked tech stocks have had better returns at lower risk than you did. Have fun staying poor.
It gains in price sometimes. It has never gained in value.
Nvidia shares are trading at about 70x their trailing earnings. I think this is super expensive, so I wouldn't buy it. Other people buy their AI growth narrative, but I think it's bunk. They sell GPUs that have utility and there's certainly a share price that would entice me. It's a good business, just overpriced.
Tesla shares are trading at about 45x trailing earnings. I think this is also super expensive. I don't buy that they're remotely close to FSD or that Elon can't do anything wrong (in fact, can he do anything right?). I think their business contracts over the next few years. I'm basically not buying unless it gets to penny stock territory.
Bitcoin generates no cash flow. It's not a debt instrument like a bond nor does it endow me with rights to a favorable trade in the future like an option. So it's worthless. Its value is at best 0. The fact that someone else is willing to pay $60K or $100K or $1M on it doesn't make me feel like I'm missing out. Just because someone else wants to put it in their IRA doesn't mean that I should also do something profoundly stupid.
>I don't buy that they're remotely close to FSD
In point of fact they're effectively in *dead last position*, among the companies working on that, so far behind the rest of the pack that it's not even funny in terms of mileage without requiring a driver intervention... and their "pure vision + ML" approach is a joke that would never work because it's actually ***literally*** a scam that Tesla ***knows*** is that scam:
* Elon got up on stage and told people a bunch of lies that they had to be... pretty damn gullible to fall for (because he was suggesting that he was going to start selling to you cars for $30,000 that you could use as robo-taxis to earn $30,000 annually *really soon, like next year I swear*, and you'd be stupid to buy anything but a Tesla... which meant he shouldn't be selling *any* of them, in the scenario where that was remotely true, because it would be financially stupid of *him* \- he'd just keep them all and run the robo-taxis himself, if he could actually deliver a robo-taxi; Elon fans are some *dumb* motherfuckers, that didn't catch that).
* [Tesla told the DMV meanwhile that what Elon was saying on stage was a load of bollocks](https://youtu.be/lD6ICmMRSL8?si=WBFFna6sYnIvngNR), that their software was just level 2 driving assistance, and there were no expectations it would be anything more than that.
Wow that's a whole lot of words to say absolutely nothing. Bitcoin has no utility. None of you degenerate pig fuckers want it because muh decentralization or muh scarcity. You want it because you think you are going to be able to convert to fiat later on and buy a lambo.
Look at you, you're speaking like a marketer and you are going to tell me it's not a pyramid scheme? And why don't you post on your real account?
Dogecoin is up 30% just today! Imagine being a holder of stinky buttcoins when you could have bought Doge instead. Aren't you angry you missed out? Have fun staying poor!
Why does your mom complain about you all the time? I can't wait til she gets her stuff and leaves, but she seems to be dreading it for some reason I can't quite put my finger on.
[Here's a starter pack of just 25 of the many reasons regarding the entire crypto shindig.](https://ioradio.org/i/crypto-talking-points/) It has sources and links and everything!
I honestly could not care less. It's a toxic 100% speculative asset with zero practical use cases (except for criminals of course). Good luck with your paper gains and I hope you can reach the very small liquidity exit in time when the whales start to dump. I have never believed in it and never will. Can you make money with it? Sure but given that it's a negative sum game in the end, only a few will. It's "value" is soley determined in/by USDT and greater fools. It could reach a million per coin, I still would not care.
"Imagine"?? Hell buddy, I "AM"!! How do I feel about that? Hmmmmm....let me see......hmmmm....well, how about that? I feel great!
Anyway, hope this helps. Have a nice day.
It's more worrying that new people will get rekt at 60k, and be in the red for years, all that just to get back, maybe one day, to that price.
Some people are still losing money today on their investment, when they bought at 69k. And the more it rises, the more people are set to lose when it reverts to fair value. That's why we worry, because too many people hold these bags.
There'll be people who came here to smugpost last time it reached 60k who are still in the red. It boggles the mind to think about. Several well-known traditional stocks have seen massive gains in that period.
LoL this is one of their "Wife Changing Money" mantras. You see what it's really about? INCELS who think they gonna win big on the gamble and they'll have so much fist money they can "buy" any woman and thus buy "love."
I've seen these CryptoBro spaces as a man myself a lot of the more commonly degenerate spaces are rife with misogyny and racism. They tend to have a fascist bend to them for sure.
You see clearly here all the talk about "decentralization" and "economic freedom" is just code for them hoping to fleece other bag holders, convert to fiat and acquire cocaine, lambos, and paid women for some sort of incel Andrew Tate fantasy.
>Yeah that's not what Satoshi was worried about with the current monetary system when he inserted that comment into the genesis block.
So? Who cares what *Satoshi* was worried about, [he was a dumbass with a head full of moronic conspiracy theories that were predicated in places of extreme racism towards Jews originally](https://davidgerard.co.uk/blockchain/the-conspiracist-gold-bug-economics-of-bitcoin/), who didn't even understand what "an economy of scale" or a "perverse structural incentive" was.
Go back and look at the Bitcointalk forums when someone explained to him *exactly* what was logically going to happen, as a direct consequence of the design of the system, and look at Satoshi's baffled reaction: the man was a goldbug with a boner for cryptography, who knew straight up nothing at all about actual economics, who didn't even understand on a fundamental level what money even IS... and you treat him like he was a prophet.
Lol. So you're saying he's a dumbass after he invented a monetary system that is backed by the most powerful computer network in the world. A system that allows people to send money without using a financial intermediary. A system that has ballooned to over $1 trillion in value in just 15 years. A system that has numerous layer 2 systems being actively built by brilliant developers. A system that is helping to build out the energy grid in Africa and helps balance energy supply/demand in Texas. Yeah, sure, no value at all there. He invented it exactly because of irresponsible government and bank financial behavior. Sure it's not fully developed yet, gonna take time. But to say he's a dumbass, lol, gimme a break. He might be one of the smartest individuals that has ever lived.
>So you're saying he's a dumbass after he invented a monetary system that is backed by the most powerful computer network in the world.
Yes, because that isn't true at all.
>A system that allows people to send money without using a financial intermediary.
The system is literally at all times a *required* intermediary you flagrant idiots pretend isn't there being one as it definitely is, and it operates via you ***bribing it*** *to pretty please follow your instructions*.
If you fail to provide a sufficient bribe to beat out all the other people trying to bribe the libertarians running the show... the libertarians will simply ignore your request, potentially for years, and either eventually discard it from the mempool entirely, or leave it sitting there, unable to be retracted and resubmitted - except by doing it again but with a larger bribe this time and in a transaction that would render the remaining balance insufficient for the first transaction to complete, if it ever gets put into a block - like a land mine *forever*, waiting to suddenly shift your balance of magic beans if for some reason more magic beans wind up shunted into your particular cell in the Excel spreadsheet you idiots pretend is worth money somehow.
>A system that has ballooned to over $1 trillion in value in just 15 years.
That is mark to market accounting to present a large and impressive-sounding number that will thusly fool *a bunch of stupid, stupid morons* who don't understand what a "market cap" is and why it's not even a sensible metric for a ***currency*** in the first place, let alone an actual representation of value when it is derived from mark to market accounting based on the last spot price.
If I make a trillion Gildan-bucks, and I sell 1 gildan-buck to myself, actually, for one whole dollaridoo... my shitcoin I poofed into existence from whole cloth, with no actual monetary backing, with a liquidity piss droplet of $1, well now I have a trillion dollar market cap; if that sounds like stupid nonsense, then *congratulations*, you might finally be starting to understand why you're a fucking idiot repeating cult mantras at me, as if they were meaningful data points.
>A system that has numerous layer 2 systems being actively built by brilliant developers.
Bwah ha ha ha ha, blockchain devs are [collectively a bunch of incompetent clowns](https://www.web3isgoinggreat.com/), and the L2 you chucklefucks all point to as going to solve the inherent problems with Bitcoin that you do your damnedest to avoid acknowledging are problems... is [the Lightning Network](https://github.com/davidshares/Lightning-Network), whose *own developers* admit is never going to compete with the likes of VISA; their whitepaper that claimed they were going to make Bitcoin actually scalable, by the way, was talking about a made up fictitious version of Bitcoin, where someone had already increased its abysmal TPS of "7" by **24,000x**.
Merely opening the initial channels, if Bitcoin did nothing else, for the world to start using LN would require *centuries.*
The real purpose of the Lightning Network is to be a rhetorical device you can point at, and claim it will fix the problems of Bitcoin, whenever you are forced to confront that those problems are indeed "problems", that render what you're claiming "idiotic and impossible"; in practice it's just "a bank, but shittier and prone to making funds disappear".
>A system that is helping to build out the energy grid in Africa and helps balance energy supply/demand in Texas.
It's not doing ***either*** of those things, in point of fact it's holding the electrical grid in Texas *hostage* and ransoming back the electricity to the state, being paid with ***taxpayer fucking MONEY to NOT run their number-guessing machines***, because Texas legislators were a bunch of corrupt morons who took bribes from Riot to put that idiotic system driving up the cost of electricity for their constituents in place.
Meanwhile, like the fucking locusts they are, the miners build facilities that violate noise ordinances and drive the local population ***progressively INSANE***, because fuck everyone else, they got theirs.
>Yeah, sure, no value at all there. He invented it exactly because of irresponsible government and bank financial behavior.
2008 was a failure on the part of both the US government - for loosening the rules that were there precisely to stop banks from doing the dumb thing that they did, that led to 2008 - and the banks, for doing the dumb thing that they did, now that they were again allowed to even though we knew why they shouldn't and had passed laws to stop them from doing that because we'd seen the consequences.
Satoshi saw that failure, and concluded that the ***actual*** problem was that "T*here are rules at all - everything will be GREAT if we just get rid of all safeguards and consumer protections! Wheeeeee!*". He concluded that because he was, like every other anarcho-capitalist who has ever lived, a deeply stupid abject fucking moron who can't grasp simple concepts like "human nature" and "markets don't get orderly and behaved *own their own, you willful, moronic dipshits - it takes a FUCKTON of RULES"*.
You clowns have just been speedrunning your way through the entire history of financial crimes - and why we have those regulations, to stop them - ever since.
>Sure it's not fully developed yet, gonna take time.
It's been 15 years - an eternity, as technology is evaluated - and so far the only use case that has been presented is "crime". Crime and pointless, unproductive gambling on timing entry to and exit from a Ponzi you all pretend isn't one because it isn't even trying to hide that it is one (that's why you coiners sometimes refer to Bitcoin as an *honest* Ponzi).
Meanwhile the only people who actually were trying to realize the vision of Bitcoin operating as a currency - as misguided and idiotic as their attempt might be - wound up *splitting off into a fork I now mock by always referring to it as BCash*, while the "canonical" Bitcoin has determined to stay at a throughput level that could not operate even a single strip mall, while the cult that praises it as "god's perfect money" or "digital gold" pretends that this is going to be the time where the literal oldest, worst, and least advanced version of something is the one that persists and becomes adopted.
To phrase this another way, it's like we have modern day smart phones and you're all singing the praises of the ***telegram*** (which is a very unfair comparison... for the telegram, because it was demonstrably very useful indeed when it was introduced, which is why it immediately saw widespread adoption, until better alternatives were developed).
>But to say he's a dumbass, lol, gimme a break. He might be one of the smartest individuals that has ever lived.
That you can type that and appear to mean it is why we think you're very insanely dumb.
He was a halfway decent programmer who knew practically nothing about money, such that he thought "trustless money" was even attainable (it's not, that phrase by itself is lunacy, money IS trust between humans, you **can't** make a version of it without trust), who built a do-nothing machine coded to be anti-efficient so it could maintain a performative farce of pretending nobody "controls" it.
Satoshi was a moron, just like you and all your fellow morons: we judge him by his works, and Bitcoin is *just* the worst.
>Lolololol. You spent way too much time on that with your nonsense responses.
I get that life moves fast in the modern era, but my dude, that took me like 5 minutes or so to produce: what none of you butters ever seem to grasp about me is that I'm not slaving over essays, meticulously wordsmithing the perfect turn of phrase... this is just how I type, and I type really fucking quickly.
These are shitposts I produce while multi-tasking in basically 100% of cases: you're just none of you remotely on my fucking level, that you think that took ages, or research, or ***effort***.
Git gud, in the parlance of the youth.
>You're like an ostrich man baby.
What a very strange and weirdly open to interpretation insult that is, for someone with their head buried firmly in the sand, who keeps typing out the dipshittery that their holy prophet put into the genesis block of Bitcoin as if you're quoting scripture, as if that is somehow profound.
It's fucking not, you're just a dipshit in a cult that another dipshit who *appeared* to be in perfect earnest can be assumed to have accidentally created.
>So how much Bitcoin do you own?
Why would you even ask that question? I know you're dumb and indoctrinated - because you keep quoting from your scriptures and repeating phrases from your cult playbook - but my dude, even you should be able to work out what the answer is going to be, given the tenor of my responses to you.
# NONE. I have never even so much as briefly contemplated initiating the process that "could" result in me 'owning' any bitcoins.
No wallets, no coins, no nothing, nada, zilch, I ***very deliberately*** do not participate in your deeply unethical, entirely pointless, and manifestly destructive Ponzi scheme; I can't imagine why anyone could possibly suspect I'd give a different answer, except that your cult likes to insist that we're secretly here running disinformation campaigns, intentionally spreading FUD, under the hilarious narrative that we secretly all have Bitcoin exposure and we just want to buy more of it for cheap.
The reality is we don't want that shit at all, won't purchase it at any price, and some of us - and I am decidedly in this particular category - ***could not even be PAID - in units of actual money - to TAKE IT.***
That is my line in the sand, that I couldn't have more obviously drawn, I want nothing to do with the entire ouroboros of grift that is the crypto 'industry' (which is not a real industry, because all it has are scams, a recursive series of empty boxes that don't do anything but spit out made up tokens into other empty boxes that don't do anything).
Haha. So if someone was willing to send you one Bitcoin right now you wouldn't accept it and then try to sell on coinbase or something? You'd make $60k. Maybe you're independently wealthy...
>So if someone was willing to send you one Bitcoin right now you wouldn't accept it and then try to sell on coinbase or something?
Accept it ***how***, exactly? You **can't** send me one, for the same reason I can't accept one:
* I do not have a Bitcoin wallet address.
* I will *never* go through the steps involved to create one. Fucking **NEVER**.
I have no account, on Coinbase - and I'm not fucking signing up for one - I have no wallet software - and I'm not ever downloading or installing it - I possess ***none*** of the means required for you to send me diddly squat... and I won't take any of the steps involved to change that.
I flat out ***refuse***. There are more important things in life than money, like having a goddamn *moral backbone*.
Also. It is backed by the most powerful computing system in the world. Hmm, I wonder why? https://internationalman.com/articles/209-quintillion-calculations-per-second-and-the-worlds-most-secure-computer-network/
>It is backed by the most powerful computing system in the world.
Yet further misguided, dishonest, abject stupidity: the overwhelming majority of the supposed "computers" that comprise the Bitcoin network are devices that cannot be dignified with the label of "computer", because they're just fucking not computers.
They're ASICs: **A**pplication **S**pecific **I**ntegrated **C**ircuits.
Now ASICs in general are quite useful - show up in all sorts of dedicated electronics we employ on a day to day basis - but the sort of ASICs that Bitcoin uses are the most spectacularly useless electronic devices that have ever, EVER been constructed by human beings...
... because **all** they do, literally the only thing that they are built to do, is guess random numbers, add those random numbers to the hash of the last block, and run a hash operation on the result: then they throw that result into the garbage in basically every single case and start over, again and again and again, because what they're trying to produce - and only one of them will, and by doing so render the time and electricity all the others spent on that task entirely pointless - is just "a result with enough initial 0s at the front, for the present difficulty modifier".
Most ASICs never guess the correct random number across their entire operational lifespan, before they wind up in a garbage dump; there is no way to effectively reuse them for anything at all, if a miner goes bust or throws them out, because they were built for a pointless, entirely arbitrary and completely useless "make work" task put in place simply to be a speed bump, simply to waste time and electricity.
Calling Bitcoin a powerful computational network is the sort of sophistry one would expect from you morons, the entire thing, ALL of its useful functions... **could be run on a handful of Raspberry Pi devices** (technically you'd only need one, but we're playing along with the whole "it needs to be decentralized" ethos). You clowns crowing about that is every bit as idiotic as Vitalik pretending Ethereum actually represents a "world computer", when it has the equivalent computational power of an Atari 2600 from the 1970s, if you made one of those run on casino chips that cost $500 a pop, and needed fed into it every 5 minutes.
It's still computing power dude. Lol. Who cares if it's an ASIC, a Mac, or windows computer. Your spinning of basic facts is weird at best and just sad. So tell me, if everything you're saying is correct, which clearly it's not, but if you're so right, then why is the hashrate going up exponentially?
>It's still computing power dude. Lol.
It demonstrably isn't, not in the way that an AWS instance is computing power.
>Who cares if it's an ASIC, a Mac, or windows computer.
Because the last two devices you listed out are computers, capable of doing all the things that a computer can.
Bitcoin ASICs perform a single task that Isn't. Actually. USEFUL. To anyone. They literally just guess numbers and hash them, over and over, as fast as possible - using electronics to perform a computation you could just perform yourself by hand, on a piece of paper - until they get a string of random gibberish with enough leading 0s; they do not have computational power as we understand that term, they are less useful than a pocket calculator from the 1960s, as computational devices, they are simply machines to guess bingo numbers.
Then if they get the winning bingo number, they spit it out to the actual computer doing the entirety of the "work" of the system, which is why you could run the Bitcoin network on a Raspberry Pi; making it arbitrarily hard to enter a system coded as a lottery is the only reason any of the ASICs are there.
>So tell me, if everything you're saying is correct, which clearly it's not
Oh no, I promise you I have been extremely truthful and straight with you, I'm not even exaggerating for comedic impact - you are *literally* part of a self-organizing high control group my dude (aka, "a cult"), who have been willfully engaged in pretending that reality doesn't work the way that it actually does and history didn't happen the way that it actually did - l'm just telling you how things actually are.
You don't want to engage with that, because your cult rejects reality and substitutes a delusion that ends with "you become rich, for not actually... doing anything".
>but if you're so right, then why is the hashrate going up exponentially?
Because people keep designing, buying, and then turning on and using new generations of ASICs that guess the numbers and hash them *more quickly* than the previous generation? Why do you think this is some gotcha, why do you think I'd have trouble answering this question?
What is it that you think "hashrate" even means, hmm? Oh yeah, it's the single-task electronic devices generating a nonce, adding that to the hash of the last block in the chain, and running a SHA256 operation on the result.
# That is not actually USEFUL. That serves NO ACTUAL PURPOSE to the operation of the Bitcoin network, except to be a SPEED BUMP: Proof of Work verification involves entirely pointless, entirely unnecessary, massively wasteful because it's done massively in parallel "work" that goes just directly into the GARBAGE, in the case of every single device performing it that didn't guess the winning Bingo number.
Hashrate is *just* a measurement of how many ASICs are guessing bingo numbers and how efficient at guessing bingo numbers those ASICs are, collectively - and the system just makes you guess those numbers because it's coded like a lottery, a winner takes all lottery where there's never any prize for 2nd place and there's no authoritative point of control or copy of a ledger prone to soft-forking all the damn time, so it needed to be "arbitrarily hard" to enter the lottery to keep people from simply sock-puppeting and taking over (but what Satoshi overlooked is that computers are in the here and now "things you buy with money", and people could - and did - just build bigger rigs and therefore take it over), it doesn't represent "computational power" at all... but here's the kicker:
* It going down or going up doesn't change the realities of Bitcoin's throughput. At all.
* Bitcoin is coded as a Red Queen's Race, aka "a system that runs in place", because it is designed to have the same TPS if you were running 10 competing CPUs/GPUs/ASICs (they moved down the line from generalized to specialized to *incredibly specialized and indeed, otherwise just useless* devices you see, to guess the numbers) as it would if you were running 10,000,000 of them.
* The intended rate that new blocks are "discovered" - aka, that winning bingo numbers are guessed - is once every 10 minutes or so; every so many new blocks, the system evaluates if that is holding true.
* If people made more efficient ASICs, or more ASICs are built and switched on, such that winning bingo numbers can be guessed faster than that once every 10 minutes or so target... the Bitcoin network makes them find a string of gibberish with *even more* 0s at the beginning, so all the gain in efficiency of the calculations or the additional brute resources get *entirely negated.*
* If people drop out of the bingo competition en mass, if results are taking half an hour, 2 whole hours, 10 days between blocks... then it would adjust the required number of leading 0s back down again, to wind up right where it started.
This is actual lunacy, no useful distributed network is coded to run in place, to never get better, to simply consume as much electricity as you can throw at it and NEVER benefit: cloud services, streaming, they're all trying to do more with less. Bitcoin runs in fucking place, pointlessly wasting energy so the libertarians running it can say it's decentralized, when it has no benefits whatsoever - apart from nonsensical adherence to illogical principles - by being decentralized.
And you are trying to ***brag*** about this, as if that is an impressive thing and not ***a horrifying ecological CRIME***; Vitalik is a total dumbass with terrible ideas, but at least his laughable 'world computer' that seizes up when you merely try to trade links to jpgs of cats with it isn't still consuming ***as much electricity as Belgium*** to do that.
Get with the fucking times, Bitcoin clowns, you're in a bloody *apocalypse cult,* you're running a system that you could feed *all of the electricity that the planet even produces*... and it would still, ***still*** have a TPS of "7".
Imagine making fun of Scientology back when it only had a few hundred members? Well there are millions now! With churches in every country, Scientology now even runs ads during the Superbowl! Do you still question the fact that Xenu put nuclear bombs in volcanos? Do you still refuse to use e-meters to clear yourself of body thetans?
Dumbfuck boomer take. How about you read a book for once and learn how computing works you dumbfuck luddite boomer.
I know that when *I* want technical or financial advice, I get it from someone who knows three total insults and uses them with the grace and competence of an emotionally stunted 12 year old.
That's "dumbfuck boomer" twice. Can't you at least diversify your insults? Is that all your taunt power? We're not during recess at highschool anymore
Crypto bros really shouldn't tell people to learn about computing. The more people that understand how trashy blockchain technology actually is the harder it will be to hype your ponzi coins to people.
a technology made ... by boomers in the 80's... (which is hilarious in this context)
I'll bite.. Please explain how computing works to me.
>How about you read a book for once How about *you* start the process - allow me to recommend some reading material: * [Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts](https://www.amazon.com/Attack-50-Foot-Blockchain-Contracts/dp/1974000060/) * [Easy Money: Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud](https://www.amazon.com/Easy-Money-Cryptocurrency-Casino-Capitalism/dp/1419766392/) * [Number Go Up: Inside Crypto's Wild Rise and Staggering Fall](https://www.amazon.com/Number-Go-Up-Cryptos-Staggering/dp/0593443810/)
‘Dumbfuck Boomers’ invented the internet so you couldn’t even make a fool of yourself without them. But you’re such a scholar you already knew that.
Haha you fools won’t buy Enron stock? Even after the stock continues to gain in value year over year? Even after institutional investors have entered? After it’s being included in IRAs?
And just wait till they hear about Bernard L. Madoff Investments LLC! They've been going up and up since 1960, the returns are insane. You gotta sign up bro, Bernie's a financial genius!
Imagine buying bitcoin at 60k
Imagine buying bitcoin. *\*shudder\**
I did, and at 50, 40, 30, 25...
so you're late too loll
It’s only the late ones that come here lol.
Because they know they're years late and need to find as many new fools (Pyramid) as they can. While delusional long-term Bitcoin Maxis (think Max Keiser types) know these newer holders will never touch their holding amount and become less vocal/need to get vocal as much on average. You always know a new bag holder by how loud they're screaming about the Koolaide. 🤣
Still early Few
It's so early you have no idea.
Neither do you
Can I DM you my gains? I have screenshots
Gambling addict, enjoy losing it all.
I've already sold what amounts to my initial capital. If I'm gambling, I'm using house money at this point. Feels good. Let me show you the receipts. Dm me.
You are still just gambling mate, no one gives a shit about the gains of a degenerate gambler whether they had gains or not. You will speculate on another shitty asset that you are uneducated and stupid to understand and will lose it all.
I bought Facebook's IPO and have 2.4% interest rates on both my rental properties. What if I'm just winning across the board?
The fact that you are so desperate to prove your worth to random people on the internet kind of proves you’re not winning
I really don't care what your gains are, all I would want to know is, are they realized gains?
This loser is so obsessed with trying to “DM people his gains” lol. He pulled the same shit on me. So rich and successful but so desperate for validation.
The screenshots are my coinbase balances. Still unrealized. I have sold a decent amount since 2017 that has all been spent or reinvested. No screenshots. Dm me bro. Let me show you
I really don't need to see any screenshots. If you sold and made some money, good for you! I hope you make all the money you need, but this shit is most definitely a rigged game at a casino.
> Let me show you Lol look at you, trying soooo hard to look meaningful in some way. Flexing unrealized gains is so pathetic
I've realized. Want to see the transfers? Dm me
I'm actually well rich. https://i.imgur.com/Ssukg2y.png
My Dad won $25K on a slot machine. In the last 5 years he likely lost $100K. But yes he did win once. So? Some gamblers do win at the Casino. What does it prove?
I hit 777 once on a slot machine. Nice feeling
Bro' DM me your gains. Sounds hot and juicy. Send it to me!
It's the new "*send bob and vagene*"
You're actually very late. So Butters understand this is the last "bull run" cycle they will see with said temporary returns. What do you guys think is going to happen post institutional hegemony? Again no one is stopping you. I say you leverage your Mortgage/house and go all in on Bitcoin at $60K, you're so early bro! It's only been 15 years! Soooooo early! 🤣
It’s true, it is early since it will be a while before it goes below 10k.
Let’s see your slips, how much have you actually made?
Can I show you? Dm me I've got screenshots
DM me that shit bitch. Show me you're weak ass late investor gainz.
Send it to me.
So you spent what over 100K already? It would need to jump up a significant amount for you to break even.
You're not good at math I suppose. I DCA'd in over years. I'm up, if I choose to sell anytime soon. Which I don't intend to.
So you have no realized gains.
As expected. Every single time.
And lots of UTXOs to consolidate. Fees, here I come...
See pinned post please. Nobody here cares how high the number goes. To make an analogy, plenty of idiot politicians receive lots of votes also, doesn't mean they aren't idiots.
I was thinking about that post and I think these threads pop up because the price is one of the only pieces of info they can ever point at. All the other points people have made like the fees, transaction times, energy usage, no adoption, lack of consumer safety, etc. can't be argued well so the one thing they cling onto is "look, the price is up!" I thought of an analogy too lol. It's like a car having flat tires, a cracked windshield, oil spilling out of the bottom, and the resale value is low, and then when the resale value goes up, they point at that and say "See!? It's a good car!!"
dude come on. at least put some effort into your shit post.
I just can't understand your argument. Your position is, hey don't buy Amazon. Then every year Amazon gains in value. At some point, when do you say, "maybe I was wrong on this one."
Amazon is a growing business, bitcoin has what exactly?
>, bitcoin has what exactly? Number go up!
Investors... Which is all that matters.
That’s not an answer to my question
Oh no, it is. This idiot just doesn’t realize he admitted this is a Ponzi scheme
You absolute fucking moron, have you heard of Bernie Madoff?
You’re literally defending a Ponzi scheme and you’re too fucking stupid to understand it’s a Ponzi scheme. lol this is amazing
Once there's investors the obvious thing that matters is what are they investing in. Amazon is a business that makes money off of customers. If the only thing you have is investors, then they can only make money off of other investors, which is how you get people accusing it of being a Ponzi scheme.
That's a really stupid response
Bernie had investors. Does that mean he wasn't a fraud?
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Owning shares in a mining company is different than owning bitcoin. It’s more like staking. Owning Bitcoin gives you exactly nothing.
Do Amazon shareholders go around harassing other people to buy shares of Amazon?
Yes I don't believe I've ever been called racial slurs by an Amazon investor for saying "no thanks"
There's definitely a fascist/racist mentality/tone to many of these "Libertarian" Crypto Bros. Very BoredApe edgelord incel 4-chan bigot "degenerate" archetypes. A lot of Peter Thiel like pedo types to considering last cycles "Cryptoland." An island where holder were hoping for no "age of consent" laws... A lot of anti-social types that think scamming people are so "based." "Hey Bro', that's crypto."
You realize bitcoin hit $60k before then proceeded to lose 2/3 of its value, right?. You totally aren't being taken for a ride by wash traders, totally not that.
cool strawman, bro. what other garbage you got rattling around in that empty little head of yours?
That's just the flip side of the gamblers fallacy. You make decisions based on the quality of limited information you have. Sometimes you've got pocket aces and you play them expertly and lose a fortune to a suckout on the last card. Sometimes you stupidly overplay shitty hole cards and win a huge pot. The first play was still the right move even though you lost. The second play was still stupid even though you won. I still believe crypto is a bad idea, and a bubble that will eventually correct itself. Because I believe that, it would be stupid to go against my own good sense -- even if suckers get rich by being lucky suckers, they're still suckers. I'm not going to *regret* having made the right choice, independent of its eventual outcome.
It's a ponzi and I'd rather own actual company stock. Why did you buy Bitcoin rather than buying Facebook stock? It went up 300%.
Cus btc went up several million %. Do you want me to explain how a million % is greater than 300% or can you figure that out?
Well if we're cherry picking time periods, I'll pick a winning lottery number or perfect market timing on TQQQ. Did you buy your Bitcoin when it was 10 cents? No? That's what I thought.
9k-22k but even that yields more than 300% what’s ur point..? Fbook is also way more mature w/ respect to overall TAM…BTC has way more room to run. Do me a favor though, assuming u have offspring, please take a video of the moment ur kids/ grandkids ask u “why didn’t you buy BTC” and record their disappointed reactions. I’d give u my stack just to see that 😭
20k-60k is precisely 300% you dumbass. That said Meta went up closer to 500% since October 2022. Leveraged ETFs and cherry picked tech stocks have had better returns at lower risk than you did. Have fun staying poor.
😩don’t tell me I have to do math for them too….
Show us your bank balance. Prove that you’re super wealthy now and how everyone is so wrong
Looks like OP got spanked. He will never show his bank statements.
His gains are unrealized. As usual.
He's gonna flip on his grandkids and scream "it has no intrinsic value" before suffering a stroke.
Show us your cost basis
Happy to. DM me
Just post it.
shouldve bought an alpha black lotus then
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LoL. Sure. It's a Pyramid scheme. Store of value, eh? What value? Man I need a good laugh, need to generate a Michael Taylor BTC quote here. 🤣
It gains in price sometimes. It has never gained in value. Nvidia shares are trading at about 70x their trailing earnings. I think this is super expensive, so I wouldn't buy it. Other people buy their AI growth narrative, but I think it's bunk. They sell GPUs that have utility and there's certainly a share price that would entice me. It's a good business, just overpriced. Tesla shares are trading at about 45x trailing earnings. I think this is also super expensive. I don't buy that they're remotely close to FSD or that Elon can't do anything wrong (in fact, can he do anything right?). I think their business contracts over the next few years. I'm basically not buying unless it gets to penny stock territory. Bitcoin generates no cash flow. It's not a debt instrument like a bond nor does it endow me with rights to a favorable trade in the future like an option. So it's worthless. Its value is at best 0. The fact that someone else is willing to pay $60K or $100K or $1M on it doesn't make me feel like I'm missing out. Just because someone else wants to put it in their IRA doesn't mean that I should also do something profoundly stupid.
Very well stated. 🏆👍
>I don't buy that they're remotely close to FSD In point of fact they're effectively in *dead last position*, among the companies working on that, so far behind the rest of the pack that it's not even funny in terms of mileage without requiring a driver intervention... and their "pure vision + ML" approach is a joke that would never work because it's actually ***literally*** a scam that Tesla ***knows*** is that scam: * Elon got up on stage and told people a bunch of lies that they had to be... pretty damn gullible to fall for (because he was suggesting that he was going to start selling to you cars for $30,000 that you could use as robo-taxis to earn $30,000 annually *really soon, like next year I swear*, and you'd be stupid to buy anything but a Tesla... which meant he shouldn't be selling *any* of them, in the scenario where that was remotely true, because it would be financially stupid of *him* \- he'd just keep them all and run the robo-taxis himself, if he could actually deliver a robo-taxi; Elon fans are some *dumb* motherfuckers, that didn't catch that). * [Tesla told the DMV meanwhile that what Elon was saying on stage was a load of bollocks](https://youtu.be/lD6ICmMRSL8?si=WBFFna6sYnIvngNR), that their software was just level 2 driving assistance, and there were no expectations it would be anything more than that.
its a ponzi ....thats the argument
I liken it to a hybrid Ponzi-Pyramid scheme. The worst of both worlds. 🤣
Imagine coming back here to gloat after being silent for the last year plus while you lost your money.
People make money selling heroin. Huge money. I’m still not gonna do it. End of argument.
Yeah we've been here before, how did that turn out again?
I was on Buttcoin in 2021 so this repeat of history is hilarious. 🤣
Can you buy a burger with your coin?
It's still based on nothing but FOMO so it's about as solid of an investment as pets.com
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Wow that's a whole lot of words to say absolutely nothing. Bitcoin has no utility. None of you degenerate pig fuckers want it because muh decentralization or muh scarcity. You want it because you think you are going to be able to convert to fiat later on and buy a lambo. Look at you, you're speaking like a marketer and you are going to tell me it's not a pyramid scheme? And why don't you post on your real account?
Honestly, I'm 95% sure this jackass is just using AI to write his drivel.
Outside of being "first" name one "unique" feature of Bitcoin not present in any other cryptocurrency?
i hope you understand that bitcoin's wastage of our finite world scales with its price
I don't need to imagine. I can remember last time it happened. You guys went real quiet after that.
Dogecoin is up 30% just today! Imagine being a holder of stinky buttcoins when you could have bought Doge instead. Aren't you angry you missed out? Have fun staying poor!
Why does your mom complain about you all the time? I can't wait til she gets her stuff and leaves, but she seems to be dreading it for some reason I can't quite put my finger on.
I don't need to imagine it, I am. And it doesn't affect me in any way oddly enough.
[Here's a starter pack of just 25 of the many reasons regarding the entire crypto shindig.](https://ioradio.org/i/crypto-talking-points/) It has sources and links and everything!
It's an asset?
Where did you cut and paste this from?
I honestly could not care less. It's a toxic 100% speculative asset with zero practical use cases (except for criminals of course). Good luck with your paper gains and I hope you can reach the very small liquidity exit in time when the whales start to dump. I have never believed in it and never will. Can you make money with it? Sure but given that it's a negative sum game in the end, only a few will. It's "value" is soley determined in/by USDT and greater fools. It could reach a million per coin, I still would not care.
"Imagine"?? Hell buddy, I "AM"!! How do I feel about that? Hmmmmm....let me see......hmmmm....well, how about that? I feel great! Anyway, hope this helps. Have a nice day.
It's more worrying that new people will get rekt at 60k, and be in the red for years, all that just to get back, maybe one day, to that price. Some people are still losing money today on their investment, when they bought at 69k. And the more it rises, the more people are set to lose when it reverts to fair value. That's why we worry, because too many people hold these bags.
There'll be people who came here to smugpost last time it reached 60k who are still in the red. It boggles the mind to think about. Several well-known traditional stocks have seen massive gains in that period.
I'm imagining
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No matter how rich you get, no woman will ever let you touch her.
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Ok. What’s the number of their CPS agent?
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What?
Bro' don't waste time talking to us, you need to buy as much BTC as you can now! You're gonna have 10 wives soon! You're so smart and alpha! /s 🤣
LoL this is one of their "Wife Changing Money" mantras. You see what it's really about? INCELS who think they gonna win big on the gamble and they'll have so much fist money they can "buy" any woman and thus buy "love." I've seen these CryptoBro spaces as a man myself a lot of the more commonly degenerate spaces are rife with misogyny and racism. They tend to have a fascist bend to them for sure. You see clearly here all the talk about "decentralization" and "economic freedom" is just code for them hoping to fleece other bag holders, convert to fiat and acquire cocaine, lambos, and paid women for some sort of incel Andrew Tate fantasy.
It hit 60k back in 2021 remember? It's only taken about 2 and a half years to get back to this.
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks."
And no deposits were lost. . . .
Yeah that's not what Satoshi was worried about with the current monetary system when he inserted that comment into the genesis block.
>Yeah that's not what Satoshi was worried about with the current monetary system when he inserted that comment into the genesis block. So? Who cares what *Satoshi* was worried about, [he was a dumbass with a head full of moronic conspiracy theories that were predicated in places of extreme racism towards Jews originally](https://davidgerard.co.uk/blockchain/the-conspiracist-gold-bug-economics-of-bitcoin/), who didn't even understand what "an economy of scale" or a "perverse structural incentive" was. Go back and look at the Bitcointalk forums when someone explained to him *exactly* what was logically going to happen, as a direct consequence of the design of the system, and look at Satoshi's baffled reaction: the man was a goldbug with a boner for cryptography, who knew straight up nothing at all about actual economics, who didn't even understand on a fundamental level what money even IS... and you treat him like he was a prophet.
Lol. So you're saying he's a dumbass after he invented a monetary system that is backed by the most powerful computer network in the world. A system that allows people to send money without using a financial intermediary. A system that has ballooned to over $1 trillion in value in just 15 years. A system that has numerous layer 2 systems being actively built by brilliant developers. A system that is helping to build out the energy grid in Africa and helps balance energy supply/demand in Texas. Yeah, sure, no value at all there. He invented it exactly because of irresponsible government and bank financial behavior. Sure it's not fully developed yet, gonna take time. But to say he's a dumbass, lol, gimme a break. He might be one of the smartest individuals that has ever lived.
>So you're saying he's a dumbass after he invented a monetary system that is backed by the most powerful computer network in the world. Yes, because that isn't true at all. >A system that allows people to send money without using a financial intermediary. The system is literally at all times a *required* intermediary you flagrant idiots pretend isn't there being one as it definitely is, and it operates via you ***bribing it*** *to pretty please follow your instructions*. If you fail to provide a sufficient bribe to beat out all the other people trying to bribe the libertarians running the show... the libertarians will simply ignore your request, potentially for years, and either eventually discard it from the mempool entirely, or leave it sitting there, unable to be retracted and resubmitted - except by doing it again but with a larger bribe this time and in a transaction that would render the remaining balance insufficient for the first transaction to complete, if it ever gets put into a block - like a land mine *forever*, waiting to suddenly shift your balance of magic beans if for some reason more magic beans wind up shunted into your particular cell in the Excel spreadsheet you idiots pretend is worth money somehow. >A system that has ballooned to over $1 trillion in value in just 15 years. That is mark to market accounting to present a large and impressive-sounding number that will thusly fool *a bunch of stupid, stupid morons* who don't understand what a "market cap" is and why it's not even a sensible metric for a ***currency*** in the first place, let alone an actual representation of value when it is derived from mark to market accounting based on the last spot price. If I make a trillion Gildan-bucks, and I sell 1 gildan-buck to myself, actually, for one whole dollaridoo... my shitcoin I poofed into existence from whole cloth, with no actual monetary backing, with a liquidity piss droplet of $1, well now I have a trillion dollar market cap; if that sounds like stupid nonsense, then *congratulations*, you might finally be starting to understand why you're a fucking idiot repeating cult mantras at me, as if they were meaningful data points. >A system that has numerous layer 2 systems being actively built by brilliant developers. Bwah ha ha ha ha, blockchain devs are [collectively a bunch of incompetent clowns](https://www.web3isgoinggreat.com/), and the L2 you chucklefucks all point to as going to solve the inherent problems with Bitcoin that you do your damnedest to avoid acknowledging are problems... is [the Lightning Network](https://github.com/davidshares/Lightning-Network), whose *own developers* admit is never going to compete with the likes of VISA; their whitepaper that claimed they were going to make Bitcoin actually scalable, by the way, was talking about a made up fictitious version of Bitcoin, where someone had already increased its abysmal TPS of "7" by **24,000x**. Merely opening the initial channels, if Bitcoin did nothing else, for the world to start using LN would require *centuries.* The real purpose of the Lightning Network is to be a rhetorical device you can point at, and claim it will fix the problems of Bitcoin, whenever you are forced to confront that those problems are indeed "problems", that render what you're claiming "idiotic and impossible"; in practice it's just "a bank, but shittier and prone to making funds disappear". >A system that is helping to build out the energy grid in Africa and helps balance energy supply/demand in Texas. It's not doing ***either*** of those things, in point of fact it's holding the electrical grid in Texas *hostage* and ransoming back the electricity to the state, being paid with ***taxpayer fucking MONEY to NOT run their number-guessing machines***, because Texas legislators were a bunch of corrupt morons who took bribes from Riot to put that idiotic system driving up the cost of electricity for their constituents in place. Meanwhile, like the fucking locusts they are, the miners build facilities that violate noise ordinances and drive the local population ***progressively INSANE***, because fuck everyone else, they got theirs. >Yeah, sure, no value at all there. He invented it exactly because of irresponsible government and bank financial behavior. 2008 was a failure on the part of both the US government - for loosening the rules that were there precisely to stop banks from doing the dumb thing that they did, that led to 2008 - and the banks, for doing the dumb thing that they did, now that they were again allowed to even though we knew why they shouldn't and had passed laws to stop them from doing that because we'd seen the consequences. Satoshi saw that failure, and concluded that the ***actual*** problem was that "T*here are rules at all - everything will be GREAT if we just get rid of all safeguards and consumer protections! Wheeeeee!*". He concluded that because he was, like every other anarcho-capitalist who has ever lived, a deeply stupid abject fucking moron who can't grasp simple concepts like "human nature" and "markets don't get orderly and behaved *own their own, you willful, moronic dipshits - it takes a FUCKTON of RULES"*. You clowns have just been speedrunning your way through the entire history of financial crimes - and why we have those regulations, to stop them - ever since. >Sure it's not fully developed yet, gonna take time. It's been 15 years - an eternity, as technology is evaluated - and so far the only use case that has been presented is "crime". Crime and pointless, unproductive gambling on timing entry to and exit from a Ponzi you all pretend isn't one because it isn't even trying to hide that it is one (that's why you coiners sometimes refer to Bitcoin as an *honest* Ponzi). Meanwhile the only people who actually were trying to realize the vision of Bitcoin operating as a currency - as misguided and idiotic as their attempt might be - wound up *splitting off into a fork I now mock by always referring to it as BCash*, while the "canonical" Bitcoin has determined to stay at a throughput level that could not operate even a single strip mall, while the cult that praises it as "god's perfect money" or "digital gold" pretends that this is going to be the time where the literal oldest, worst, and least advanced version of something is the one that persists and becomes adopted. To phrase this another way, it's like we have modern day smart phones and you're all singing the praises of the ***telegram*** (which is a very unfair comparison... for the telegram, because it was demonstrably very useful indeed when it was introduced, which is why it immediately saw widespread adoption, until better alternatives were developed). >But to say he's a dumbass, lol, gimme a break. He might be one of the smartest individuals that has ever lived. That you can type that and appear to mean it is why we think you're very insanely dumb. He was a halfway decent programmer who knew practically nothing about money, such that he thought "trustless money" was even attainable (it's not, that phrase by itself is lunacy, money IS trust between humans, you **can't** make a version of it without trust), who built a do-nothing machine coded to be anti-efficient so it could maintain a performative farce of pretending nobody "controls" it. Satoshi was a moron, just like you and all your fellow morons: we judge him by his works, and Bitcoin is *just* the worst.
Lolololol. You spent way too much time on that with your nonsense responses. You're like an ostrich man baby. So how much Bitcoin do you own?
>Lolololol. You spent way too much time on that with your nonsense responses. I get that life moves fast in the modern era, but my dude, that took me like 5 minutes or so to produce: what none of you butters ever seem to grasp about me is that I'm not slaving over essays, meticulously wordsmithing the perfect turn of phrase... this is just how I type, and I type really fucking quickly. These are shitposts I produce while multi-tasking in basically 100% of cases: you're just none of you remotely on my fucking level, that you think that took ages, or research, or ***effort***. Git gud, in the parlance of the youth. >You're like an ostrich man baby. What a very strange and weirdly open to interpretation insult that is, for someone with their head buried firmly in the sand, who keeps typing out the dipshittery that their holy prophet put into the genesis block of Bitcoin as if you're quoting scripture, as if that is somehow profound. It's fucking not, you're just a dipshit in a cult that another dipshit who *appeared* to be in perfect earnest can be assumed to have accidentally created. >So how much Bitcoin do you own? Why would you even ask that question? I know you're dumb and indoctrinated - because you keep quoting from your scriptures and repeating phrases from your cult playbook - but my dude, even you should be able to work out what the answer is going to be, given the tenor of my responses to you. # NONE. I have never even so much as briefly contemplated initiating the process that "could" result in me 'owning' any bitcoins. No wallets, no coins, no nothing, nada, zilch, I ***very deliberately*** do not participate in your deeply unethical, entirely pointless, and manifestly destructive Ponzi scheme; I can't imagine why anyone could possibly suspect I'd give a different answer, except that your cult likes to insist that we're secretly here running disinformation campaigns, intentionally spreading FUD, under the hilarious narrative that we secretly all have Bitcoin exposure and we just want to buy more of it for cheap. The reality is we don't want that shit at all, won't purchase it at any price, and some of us - and I am decidedly in this particular category - ***could not even be PAID - in units of actual money - to TAKE IT.*** That is my line in the sand, that I couldn't have more obviously drawn, I want nothing to do with the entire ouroboros of grift that is the crypto 'industry' (which is not a real industry, because all it has are scams, a recursive series of empty boxes that don't do anything but spit out made up tokens into other empty boxes that don't do anything).
Haha. So if someone was willing to send you one Bitcoin right now you wouldn't accept it and then try to sell on coinbase or something? You'd make $60k. Maybe you're independently wealthy...
>So if someone was willing to send you one Bitcoin right now you wouldn't accept it and then try to sell on coinbase or something? Accept it ***how***, exactly? You **can't** send me one, for the same reason I can't accept one: * I do not have a Bitcoin wallet address. * I will *never* go through the steps involved to create one. Fucking **NEVER**. I have no account, on Coinbase - and I'm not fucking signing up for one - I have no wallet software - and I'm not ever downloading or installing it - I possess ***none*** of the means required for you to send me diddly squat... and I won't take any of the steps involved to change that. I flat out ***refuse***. There are more important things in life than money, like having a goddamn *moral backbone*.
Also. It is backed by the most powerful computing system in the world. Hmm, I wonder why? https://internationalman.com/articles/209-quintillion-calculations-per-second-and-the-worlds-most-secure-computer-network/
>It is backed by the most powerful computing system in the world. Yet further misguided, dishonest, abject stupidity: the overwhelming majority of the supposed "computers" that comprise the Bitcoin network are devices that cannot be dignified with the label of "computer", because they're just fucking not computers. They're ASICs: **A**pplication **S**pecific **I**ntegrated **C**ircuits. Now ASICs in general are quite useful - show up in all sorts of dedicated electronics we employ on a day to day basis - but the sort of ASICs that Bitcoin uses are the most spectacularly useless electronic devices that have ever, EVER been constructed by human beings... ... because **all** they do, literally the only thing that they are built to do, is guess random numbers, add those random numbers to the hash of the last block, and run a hash operation on the result: then they throw that result into the garbage in basically every single case and start over, again and again and again, because what they're trying to produce - and only one of them will, and by doing so render the time and electricity all the others spent on that task entirely pointless - is just "a result with enough initial 0s at the front, for the present difficulty modifier". Most ASICs never guess the correct random number across their entire operational lifespan, before they wind up in a garbage dump; there is no way to effectively reuse them for anything at all, if a miner goes bust or throws them out, because they were built for a pointless, entirely arbitrary and completely useless "make work" task put in place simply to be a speed bump, simply to waste time and electricity. Calling Bitcoin a powerful computational network is the sort of sophistry one would expect from you morons, the entire thing, ALL of its useful functions... **could be run on a handful of Raspberry Pi devices** (technically you'd only need one, but we're playing along with the whole "it needs to be decentralized" ethos). You clowns crowing about that is every bit as idiotic as Vitalik pretending Ethereum actually represents a "world computer", when it has the equivalent computational power of an Atari 2600 from the 1970s, if you made one of those run on casino chips that cost $500 a pop, and needed fed into it every 5 minutes.
It's still computing power dude. Lol. Who cares if it's an ASIC, a Mac, or windows computer. Your spinning of basic facts is weird at best and just sad. So tell me, if everything you're saying is correct, which clearly it's not, but if you're so right, then why is the hashrate going up exponentially?
>It's still computing power dude. Lol. It demonstrably isn't, not in the way that an AWS instance is computing power. >Who cares if it's an ASIC, a Mac, or windows computer. Because the last two devices you listed out are computers, capable of doing all the things that a computer can. Bitcoin ASICs perform a single task that Isn't. Actually. USEFUL. To anyone. They literally just guess numbers and hash them, over and over, as fast as possible - using electronics to perform a computation you could just perform yourself by hand, on a piece of paper - until they get a string of random gibberish with enough leading 0s; they do not have computational power as we understand that term, they are less useful than a pocket calculator from the 1960s, as computational devices, they are simply machines to guess bingo numbers. Then if they get the winning bingo number, they spit it out to the actual computer doing the entirety of the "work" of the system, which is why you could run the Bitcoin network on a Raspberry Pi; making it arbitrarily hard to enter a system coded as a lottery is the only reason any of the ASICs are there. >So tell me, if everything you're saying is correct, which clearly it's not Oh no, I promise you I have been extremely truthful and straight with you, I'm not even exaggerating for comedic impact - you are *literally* part of a self-organizing high control group my dude (aka, "a cult"), who have been willfully engaged in pretending that reality doesn't work the way that it actually does and history didn't happen the way that it actually did - l'm just telling you how things actually are. You don't want to engage with that, because your cult rejects reality and substitutes a delusion that ends with "you become rich, for not actually... doing anything". >but if you're so right, then why is the hashrate going up exponentially? Because people keep designing, buying, and then turning on and using new generations of ASICs that guess the numbers and hash them *more quickly* than the previous generation? Why do you think this is some gotcha, why do you think I'd have trouble answering this question? What is it that you think "hashrate" even means, hmm? Oh yeah, it's the single-task electronic devices generating a nonce, adding that to the hash of the last block in the chain, and running a SHA256 operation on the result. # That is not actually USEFUL. That serves NO ACTUAL PURPOSE to the operation of the Bitcoin network, except to be a SPEED BUMP: Proof of Work verification involves entirely pointless, entirely unnecessary, massively wasteful because it's done massively in parallel "work" that goes just directly into the GARBAGE, in the case of every single device performing it that didn't guess the winning Bingo number. Hashrate is *just* a measurement of how many ASICs are guessing bingo numbers and how efficient at guessing bingo numbers those ASICs are, collectively - and the system just makes you guess those numbers because it's coded like a lottery, a winner takes all lottery where there's never any prize for 2nd place and there's no authoritative point of control or copy of a ledger prone to soft-forking all the damn time, so it needed to be "arbitrarily hard" to enter the lottery to keep people from simply sock-puppeting and taking over (but what Satoshi overlooked is that computers are in the here and now "things you buy with money", and people could - and did - just build bigger rigs and therefore take it over), it doesn't represent "computational power" at all... but here's the kicker: * It going down or going up doesn't change the realities of Bitcoin's throughput. At all. * Bitcoin is coded as a Red Queen's Race, aka "a system that runs in place", because it is designed to have the same TPS if you were running 10 competing CPUs/GPUs/ASICs (they moved down the line from generalized to specialized to *incredibly specialized and indeed, otherwise just useless* devices you see, to guess the numbers) as it would if you were running 10,000,000 of them. * The intended rate that new blocks are "discovered" - aka, that winning bingo numbers are guessed - is once every 10 minutes or so; every so many new blocks, the system evaluates if that is holding true. * If people made more efficient ASICs, or more ASICs are built and switched on, such that winning bingo numbers can be guessed faster than that once every 10 minutes or so target... the Bitcoin network makes them find a string of gibberish with *even more* 0s at the beginning, so all the gain in efficiency of the calculations or the additional brute resources get *entirely negated.* * If people drop out of the bingo competition en mass, if results are taking half an hour, 2 whole hours, 10 days between blocks... then it would adjust the required number of leading 0s back down again, to wind up right where it started. This is actual lunacy, no useful distributed network is coded to run in place, to never get better, to simply consume as much electricity as you can throw at it and NEVER benefit: cloud services, streaming, they're all trying to do more with less. Bitcoin runs in fucking place, pointlessly wasting energy so the libertarians running it can say it's decentralized, when it has no benefits whatsoever - apart from nonsensical adherence to illogical principles - by being decentralized. And you are trying to ***brag*** about this, as if that is an impressive thing and not ***a horrifying ecological CRIME***; Vitalik is a total dumbass with terrible ideas, but at least his laughable 'world computer' that seizes up when you merely try to trade links to jpgs of cats with it isn't still consuming ***as much electricity as Belgium*** to do that. Get with the fucking times, Bitcoin clowns, you're in a bloody *apocalypse cult,* you're running a system that you could feed *all of the electricity that the planet even produces*... and it would still, ***still*** have a TPS of "7".
If you were really confident about Bitcoin, you wouldn't be talking to us.
Imagine being mad that people have a difference in opinion. Crazy right? We didn't fall for the meme, and you're mad? Make it make sense.