A fool and his not-really-money are soon parted
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@cursorkeys said in A fool and his not-really-money are soon parted:
Blockchain 3.0
Whatever happened to Web 2.0 and Industry 4.0, and who decides which version number we're currently at?
I really should make some IoT 13.0 product.
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@cursorkeys said in A fool and his not-really-money are soon parted:
I'm not getting this...
In a new partnership announced early today, Hewlett-Packard Enterprises has teamed up with Streamr, a Switzerland-based crypto startup, to create an integrated smart car platform which shares data with other vehicles over the blockchain.
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That data, including fuel consumption, location, acceleration and gearing, can then be sent straight to the Streamr platform.
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“The idea of having one common, synchronized, shared view of truth is of enormous use in finance and government, in supply chain, in food,” says Ian Brooks, HPE’s head of innovation in Europe, in a webpage maintained by HPE’s blockchain lab.But...why do we want that for "fuel consumption, location, acceleration and gearing?"
Pikhala added that the demonstration “not only solves some of the challenges associated with smart cities, it also proposes a solution to the question of data ownership. We want to ensure that when drivers get in their car and produce valuable data, no one is reaping the rewards but them. “
That just sounds like a lie.
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Facebook is "very serious" about launching its own cryptocurrency
https://cheddar.com/videos/facebook-plans-to-create-its-own-cryptocurrency
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@timebandit said in A fool and his not-really-money are soon parted:
Facebook is "very serious" about launching its own cryptocurrency
That sounds like the first one that might be worth taking seriously.
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@boomzilla I can think of a better way to ensure that a permanent record of my location doesn't get used by anyone else.
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@cursorkeys said in A fool and his not-really-money are soon parted:
Your next Audi might run on the blockchain
WTF does that even mean???
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@hardwaregeek said in A fool and his not-really-money are soon parted:
@cursorkeys said in A fool and his not-really-money are soon parted:
Your next Audi might run on the blockchain
WTF does that even mean???
You'll wait for turning engine on to be confirmed for half an hour every time. 4 hours sometimes.
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Let's copy features from other shitcoins instead of fixing our own problems! Wooo!
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"Runs on blockchain, what does that even mean" reminds me of invitations to
dock.io
I received recently. The e-mail says "dock.io is the professional network of the future built on blockchain" at which point my buzzword alarm trips and I stop reading.What would a "professional network" even need blockchain tech for?
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@medinoc said in A fool and his not-really-money are soon parted:
What would a "professional network" even need blockchain tech for?
Buzzword compliance.
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@medinoc It provides a speed-up loop.
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@medinoc said in A fool and his not-really-money are soon parted:
What would a $anything even need blockchain tech for?
FTFY
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a grand jury in the Southern District of New York has returned an Indictment charging SOHRAB SHARMA, a/k/a “Sam Sharma,” RAYMOND TRAPANI, a/k/a “Ray,” and ROBERT FARKAS, a/k/a “RJ,” a/k/a “Bob,” the three co-founders of a startup company called Centra Tech, Inc ...
Following their arrests, this Office and the Federal Bureau of Investigation (“FBI”) seized 91,000 Ether units, consisting of digital funds raised from victims as part of the charged scheme. This seized digital currency is presently worth more than $60 million.
In or about October 2017, at the end of Centra Tech’s ICO, those digital funds raised from victims were worth more than $25 million. Due to appreciation in the value of those digital funds raised from victims, those digital funds are presently worth more than $60 million.
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@dcoder And those seized tokens will be worth exactly $0 when it's time to pay restitution to the defrauded investors.
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@dcoder It's my firm belief that cryptocurrency companies are like a Hydra. Cut down one, two more sprout up.
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@timebandit At least their transactions won't get easily lost, unlike their physical packages.
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@jbert
"In other news today, FedExChain has undergone its seventh hard fork in the past 3 months. Officials at FedEx refused to comment, or even to confirm that the hard fork had, in fact, occurred."
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@izzion "When pressed for more details they eventually released evidence that a certain receiver of a package clearly signed for the hard fork: 'look, that X over here, totally legit'. Since FedEx is all about customer experience, they couldn't help but comply."
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"When they say this offer is on fire, they're not kidding! Shitcoin incense, next on Sick, Sad World!"
Source: @isislovecruft
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@dcoder Amazing. They can even do this without doing any Crypto-Shit of their own.
Their own tokens they can just create and add to a DB like any other voucher, no crypto required (except for a save hash to create tokens that can't be guessed). And the Bitcoins they can just buyon-demandnever if anybody actually hands in 5000 tokens.So it's just like cash-back rewards, basically.
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@dcoder said in A fool and his not-really-money are soon parted:
So 1% of a token gives 0.01 bitcoins, 0.04% of a token gives 0.5 bitcoins and 0.02% of a token gives 1 bitcoin. Seems a bit backwards...
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@atazhaia said in A fool and his not-really-money are soon parted:
So 1% of a token gives 0.01 bitcoins, 0.04% of a token gives 0.5 bitcoins and 0.02% of a token gives 1 bitcoin. Seems a bit backwards...
As I understand it, for a given token:
- with probability 1/100, you can get 0.01 BTC for it
- with probability 1/2500, you can get 0.50 BTC for it
- with probability 1/5000, you can get 1.00 BTC for it
- with probability 0.9894, you get nothing
Or in their own words
For every 5000 candles, 1 candle contains 1 token that may be redeemed for 1 Bitcoin, 2 candles contain 1 token each that may be redeemed for .5 Bitcoin, and 50 candles contain 1 token each that may be redeemed for .01 Bitcoin.
The expected value is 0.0005 BTC, so according to the rate at the millisecond of writing (8237.1 $/BTC), is 4.12$.
The candle costs 45$.
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@adynathos Oh, so it's a lottery. With a really shitty payout, as less than 10% of the selling price of the "tickets" will be used for the prize pool. Well, I guess it still makes it less of a scam than most ICOs...
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@atazhaia said in A fool and his not-really-money are soon parted:
@dcoder said in A fool and his not-really-money are soon parted:
So 1% of a token gives 0.01 bitcoins, 0.04% of a token gives 0.5 bitcoins and 0.02% of a token gives 1 bitcoin. Seems a bit backwards...
Surely that's wrong, there should be Lambos in there somewhere:
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@atazhaia said in A fool and his not-really-money are soon parted:
Oh, so it's a lottery. With a really shitty payout, as less than 10% of the selling price of the "tickets" will be used for the prize pool.
Well you still get the candle, which supposedly smells nice:
A crisp, peppery scent with notes of Oakmoss, Sandalwood, and Amber-Patchouli
(But looks terrible)
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@adynathos said in A fool and his not-really-money are soon parted:
The candle costs 45$.
Wait, what?
How large is this candle, 3galloncubic feet?
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@topspin said in A fool and his not-really-money are soon parted:
How large is this candle
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@adynathos Yeah, then I guess that candle is a pretty big WTF even without any crypto tokens involved.
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@dcoder What's a Bltooln?
Some kind of BLT sandwich-based currency?
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@blakeyrat said in A fool and his not-really-money are soon parted:
Some kind of BLT sandwich-based currency?
That would have at least some value
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https://www.howeycoins.com/index.html
(Make sure you click one of the showing interest links.)
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@blakeyrat
Do these look like trustworthy businesspeople?
Josh looks like he'd be out of his league on a "no credit check" used car lot.
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@blakeyrat hah, well that's neat.
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@hardwaregeek "Head Travel Strategist"?
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@dcon Something something pay for travel with cryptocurrency nobody's ever heard of something.
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@hardwaregeek said in A fool and his not-really-money are soon parted:
@dcon Something something pay for travel with cryptocurrency nobody's ever heard of something.
My first thought is 'has no skilz of any kind except a lot of money (or something)'
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@hardwaregeek said in A fool and his not-really-money are soon parted:
Josh looks like he be out of his league on a "no credit check" used car lot.
I'm guessing you did not click through one of the buy now links like I instructed.
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@blakeyrat You said click a "show interest" link. I clicked the "learn more" link, which just scrolled down to the "download white paper" link, but I decided that was as much interest as I was willing to show. Maybe I'll try it from home, where I have a full set of garbage blockers available.
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@blakeyrat said in A fool and his not-really-money are soon parted:
@hardwaregeek said in A fool and his not-really-money are soon parted:
Josh looks like he be out of his league on a "no credit check" used car lot.
I'm guessing you did not click through one of the buy now links like I instructed.
I'm thinking Josh is a pseudonym and he and his other brother have a "specialty" restaurant in Vermont.
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@hardwaregeek
And that's before you even consider the implications of a company that is selling an investment product having a "Head Travel Strategist". When they're already admitting that one of the co-founders is planning their trip to a no extradition island nation, do you really want to invest with them?
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@izzion Jesus none of you guys clicked. IT'S A JOKE OK! Sheesh.
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@dcon said in A fool and his not-really-money are soon parted:
@hardwaregeek "Head Travel Strategist"?
She develop travel strategies for your head.
A.k.a. she sells all kinds of marijuana
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@blakeyrat said in A fool and his not-really-money are soon parted:
@izzion Jesus none of you guys clicked. IT'S A JOKE OK! Sheesh.
Now that I'm home, I clicked in an incognito window. I wouldn't call it a joke, more of a ... well ... I'm not quite sure what word to use — a joke, but with the serious purpose of alerting potential scam victims.
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@blakeyrat said in A fool and his not-really-money are soon parted:
https://www.howeycoins.com/index.html
(Make sure you click one of the showing interest links.)
I clicked before scrolling down.
I like the government having a sense of humor.
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@pie_flavor said in A fool and his not-really-money are soon parted:
I like the government having a sense of humor.
What could possibly go wrong?
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@pie_flavor said in A fool and his not-really-money are soon parted:
I like the government having a sense of humor.
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Bitcoin’s energy footprint has more than doubled since Grist first wrote about it six months ago.
It’s expected to double again by the end of the year, according to a new peer-reviewed study out Wednesday. And if that happens, bitcoin would be gobbling up 0.5 percent of the world’s electricity, about as much as the Netherlands.
That’s a troubling trajectory, especially for a world that should be working overtime to root out energy waste and fight climate change. By late next year, bitcoin could be consuming more electricity than all the world’s solar panels currently produce — about 1.8 percent of global electricity, according to a simple extrapolation of the study’s predictions. That would effectively erase decades of progress on renewable energy.
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@dcoder said in A fool and his not-really-money are soon parted:
according to a simple extrapolation of the study’s predictions
And by further extrapolating, we see than in 100 years it will consume more energy than the sun produces, thus turning Earth into a bitcoin-powered star.
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