A fool and his not-really-money are soon parted
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@dcon said in A fool and his not-really-money are soon parted:
@hardwaregeek "Head Travel Strategist"?
Someone has to take the money from the ICO to the Bahamas.
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@blakeyrat said in A fool and his not-really-money are soon parted:
What's a Bltooln?
A Canadian Bitcoin.
Filed under: Loonie
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In a review of documents produced for 1,450 digital coin offerings, The Wall Street Journal has found 271 with red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams.
Investors have poured more than $1 billion into the 271 coin offerings where the Journal identified red flags, according to a review of company statements and online transaction records—nearly one in five of those reviewed. Some of the firms are still raising funds, while others have shut down. Investors have so far claimed losses of up to $273 million in these projects, according to lawsuits and regulatory actions.
Led by the bitcoin fever, the 1,450 projects analyzed by the Journal—a number believed to encompass most of those aimed at an English-speaking audience since 2014—say they have raised at least $5 billion. Since 2017, cryptocoin offerings have generated more than $9 billion in proceeds globally, according to research and data firm Satis Group.
At least five projects filled out their white papers or websites with executive images pulled directly from online stock photography or other sites, the Journal found.
Among the most extreme was investment startup Premium Trade. The images for its five-member executive team were simultaneously being used on nearly 500 unrelated websites[...].
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https://www.reddit.com/r/CryptoCurrency/comments/8keezz/4chan_memes_are_killing_ethereum_literally/
According to https://dappradar.com, in the last 24 hours there have been made 26000 transactions to 4 meme games from 4chan (Ether Shrimp Farm, Pepe farm, etc), which made the fees skyrocket to 0.2$ for a regular transaction and 15$ for a contract.
So the second largest cryptocurrency is literally getting destroyed by some memes and cryptokitties (since there are no other applications there besides exchanges and pyramids, as you can see on dappradar). Adoption, boys.
26000 transactions/day are enough to kill such a popular shitcoin? This is some serious webscale shit right there…
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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 didn't see any "show interest" links, so I searched around and eventually hovered over one of the "Buy Coins Now!" links and realized that they point to investor.gov.
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@anotherusername said in A fool and his not-really-money are soon parted:
I didn't see any "show interest" links,
YES FELLOW ROBOT IT IS GOOD YOU TAKE INSTRUCTION SO LITERALLY BEEP BEEP. BUTTON LABELED "BUY NOW" MIGHT INDICATE INTEREST BUT SINCE IT IS NOT LITERALLY TITLED SHOW INTEREST YOU WERE CORRECT IN NOT CLICKING IT BEEP BEEP.
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@blakeyrat with as keen as you are on usability, your instructions left something to be desired. You could have at least given an example of what you meant by "showing interest links", so I knew what specifically to look for. In fact, most of the stuff on the page doesn't do what you wanted me to see.
When the page first loads, I see two big buttons that look like they'd be for showing interest -- "TOKEN SALE!" and "Learn More". Neither of those are what you were talking about; they're just anchor links to other locations on the page. In the top menu, I see several more links, including "About" and "Contact" -- those aren't right either; they're also anchor links. The link to download the whitepaper just downloads a whitepaper. There's a "stay tuned" option, but I'm not going to put in an email address that actually belongs to me, to see what, if anything, they send me.
As far as I can tell, the only links that you were actually talking about are the "Buy Coins Now!" buttons, and all of the links in the footer (which is not a sticky footer: these links are only visible once I scroll all the way to the bottom of the page).
Also I did click it, because it was pretty obvious once I saw that it went to investor.gov that it's what you were talking about.
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@blakeyrat said in A fool and his not-really-money are soon parted:
@dcoder They can transmute lead (or something) into platinum, but they can't grammar-check their webpage.
I got this email today:
Where I guess the premise is that there's so many ICOs now that they're impossible to keep track of, so you should buy THIS ICO which provides the ability to automatically convert it into other ICOs? Or something. I only skimmed it.
BTW "airdrop" means you get a certain amount of tokens for free without trading anything for them or having to pay cash-money.
Interesting that you are targeted, considering you are in the US and therefore cannot legally participate in an ICO
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@anotherusername Write more words I won't read, I feed on them.
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IN ACTUAL CRYPTO NEWS: remember my Antminer B3? Yesterday, Bitmain released a firmware update for it which brought the average hashrate from 720-ish to 1050-ish. HOLY SHIT THAT WAS A GOOD UPDATE.
(Also the fan controller works now.)
So far the machine's brought in about 575 Bytoms, that's about $370. Not nearly as impressive as the pre-release stats, turns out the Bytom difficulty basically shot up once enough people had B3s.
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@blakeyrat said in A fool and his not-really-money are soon parted:
from 720-ish to 1050-ish
Not 1080p? What a missed opportunity.
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@blakeyrat said in A fool and his not-really-money are soon parted:
@anotherusername said in A fool and his not-really-money are soon parted:
I didn't see any "show interest" links,
YES FELLOW ROBOT IT IS GOOD YOU TAKE INSTRUCTION SO LITERALLY BEEP BEEP. BUTTON LABELED "BUY NOW" MIGHT INDICATE INTEREST BUT SINCE IT IS NOT LITERALLY TITLED SHOW INTEREST YOU WERE CORRECT IN NOT CLICKING IT BEEP BEEP.
So it's the robot's fault for not decoding your lies?
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@topspin said in A fool and his not-really-money are soon parted:
Not 1080p? What a missed opportunity.
... what? 1080 progressive-scan hashes per second?
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@dcoder said in A fool and his not-really-money are soon parted:
26000 transactions/day are enough to kill such a popular shitcoin? This is some serious webscale shit right there…
Wow. I'm pretty sure my local Timmies does more than 26,000 transactions per day.
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@lorne-kates Not sure if some weird Lorne or the name of a shop...
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@blakeyrat said in A fool and his not-really-money are soon parted:
@anotherusername Write more words I won't read, I feed on them.
Oh sure, here are some more, plus, have one of those fake internetpointz that you don't care about.
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@topspin Tim Hortons. Butt of a bunch of jokes about Canadians. Known for their coffee.
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@izzion Good, I was scared to think of what Lorne's doing to little Timmy.
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@lorne-kates 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:
26000 transactions/day are enough to kill such a popular shitcoin? This is some serious webscale shit right there…
Wow. I'm pretty sure my local Timmies does more than 26,000 transactions per day.
And gives you better ROI, too.
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@twelvebaud said in A fool and his not-really-money are soon parted:
Known for their coffee
Don't forget the donuts
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The attack used was the 51% attack I've mentioned previously.
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Some related news from the east!
We had elections some months ago and the local Pirate Party got into the Parliament. Today I saw an article about one of their new MPs who apparently moved into an apartment provided by the government (pretty standard stuff so far), and promptly started mining Zcash. Someone noticed the strangely expensive energy bill and investigated what was going on, and that's how it came to light.
In about three weeks this guy managed to run up an energy bill of about 130 dollars (2500-3000 CZK) which is pretty impressive; it's not clear how much he made but it's supposed to be significantly less (hundreds of CZK, so a couple dozen dollars). Now he says he'll donate what he made to charity. He also says the apartment was really cold and he was using the mining rig to help heat it because, and I'm quoting here, "he was waiting on the Parliament to provide him a heater". What.
Every MP has to put together and submit a list of their valuable assets. When some journalists got a hold of this guy's filing, after the energy bill fuckup, they found out that his lists cryptocurrencies worth a bit under 9000 dollars and graphics cards worth about 8000 total. Apparently he also owes about a thousand dollars in unpaid bills to the power company at his old place.
This is a person who gets to vote on legislation...
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@blek said in A fool and his not-really-money are soon parted:
Some related news from the east!
We had elections some months ago and the local Pirate Party got into the Parliament. Today I saw an article about one of their new MPs who apparently moved into an apartment provided by the government (pretty standard stuff so far), and promptly started mining Zcash. Someone noticed the strangely expensive energy bill and investigated what was going on, and that's how it came to light.
In about three weeks this guy managed to run up an energy bill of about 130 dollars (2500-3000 CZK) which is pretty impressive; it's not clear how much he made but it's supposed to be significantly less (hundreds of CZK, so a couple dozen dollars). Now he says he'll donate what he made to charity. He also says the apartment was really cold and he was using the mining rig to help heat it because, and I'm quoting here, "he was waiting on the Parliament to provide him a heater". What.
Every MP has to put together and submit a list of their valuable assets. When some journalists got a hold of this guy's filing, after the energy bill fuckup, they found out that his lists cryptocurrencies worth a bit under 9000 dollars and graphics cards worth about 8000 total. Apparently he also owes about a thousand dollars in unpaid bills to the power company at his old place.
This is a person who gets to vote on legislation...
Member of Pirate Party is an irresponsible moron? I'm shocked. Shocked!
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@blek said in A fool and his not-really-money are soon parted:
Some related news from the east!
We had elections some months ago and the local Pirate Party got into the Parliament. Today I saw an article about one of their new MPs who apparently moved into an apartment provided by the government (pretty standard stuff so far), and promptly started mining Zcash. Someone noticed the strangely expensive energy bill and investigated what was going on, and that's how it came to light.
In about three weeks this guy managed to run up an energy bill of about 130 dollars (2500-3000 CZK) which is pretty impressive; it's not clear how much he made but it's supposed to be significantly less (hundreds of CZK, so a couple dozen dollars). Now he says he'll donate what he made to charity. He also says the apartment was really cold and he was using the mining rig to help heat it because, and I'm quoting here, "he was waiting on the Parliament to provide him a heater". What.
Every MP has to put together and submit a list of their valuable assets. When some journalists got a hold of this guy's filing, after the energy bill fuckup, they found out that his lists cryptocurrencies worth a bit under 9000 dollars and graphics cards worth about 8000 total. Apparently he also owes about a thousand dollars in unpaid bills to the power company at his old place.
This is a person who gets to vote on legislation...
When the Pirate Party gets into Parliament, you know your country is simultaneously going down the shitter and getting a whole lot more fun.
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@blek said in A fool and his not-really-money are soon parted:
130 dollars
That is not a staggering amount.
Sure he is stupid to do this on the govt-provided apartment and not pay himself (his profit, if worth bothering with at all, should be higher anyway)
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@adynathos Yeah, but that's only in 3 weeks. That's a lot of energy wasted.
Anyway the cost isn't the problem, the problem is the idiotic excuse with heating and that he managed to make maybe 1/5th of what the government spent on his mining, and that's only counting the energy bill, not the 8 thousand dollars in GPUs.
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@pie_flavor said in A fool and his not-really-money are soon parted:
When the Pirate Party gets into Parliament, you know your country is simultaneously going down the shitter and getting a whole lot more fun.
Meh, depends, "pirate party" is probably too different across implementations in several countries to generalize.
When the pirate party here started getting traction, it was IMO basically synonymous with "The only people who understand technology and care about civil liberties", e.g. the only ones who understand the problems with voting machines. Unfortunately, just when they started becoming more main-stream visible and entering small local parliaments they got invaded by a bunch of SJWs looking for a "liberal" home (see civil liberties above), which drove the whole party into the ground with bullshit.
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@dcoder said in A fool and his not-really-money are soon parted 2 months ago:
Verge, a ”privacy coin” famed for the zealotry of its community, has fallen prey to a 51% attack.
Around 250,000 verge were stolen by the attacker, forcing the project team to prepare a hard fork.
Round and round and round it goes, how it forks nobody knows…
Anonymous cryptocurrency Verge can’t seem to catch a break. It appears that hackers have again exploited the vulnerabilities in Verge’s blockchain to steal XVGs.
In an attack that lasted a few hours, approximately 35 million XVGs seem to have been stolen — worth above $1.7 million as per the latest Coinmarketcap price.
In the aftermath of the last attack, Reddit user R_Sholes had pointed out that the vulnerability was not removed even after Verge hard-forked in response to the hack.
Verge has so far chosen to downplay the hack as a denial-of-service (DDos) attack on some XVG mining pools.
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@blakeyrat said in A fool and his not-really-money are soon parted:
YES FELLOW ROBOT IT IS GOOD YOU TAKE INSTRUCTION SO LITERALLY BEEP BEEP. BUTTON LABELED "BUY NOW" MIGHT INDICATE INTEREST BUT SINCE IT IS NOT LITERALLY TITLED SHOW INTEREST YOU WERE CORRECT IN NOT CLICKING IT BEEP BEEP.
something something putting mind word readers in mouth
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@topspin said in A fool and his not-really-money are soon parted:
Good, I was scared to think of what Lorne's doing to little Timmy.
well, they don't call it a boston cream for no reason...
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Earlier this week, we received a press release from ASKfm, a Ukraine-based social network planning an initial coin offering, or ICO. It said it had sponsored four Ukrainian “crypto enthusiasts” to climb Mount Everest and bury a hard drive holding cryptocurrency at the summit
One of the local Nepalese guides assisting the group, called Lam Babu Sherpa, died making the dangerous trip, even though he was an experienced climber who had reportedly reached the mountain's peak many times before.
All this to hype up ASKfm's pivot to blockchain. The company claims the tokens now buried in the snow at the top of Everest -- on a hard drive protected by plastic packaging -- are worth a total of $50,000. When asked how they reached that figure, a spokesman said:
It’s an estimate of their value once the pre-sale and ICO launch.
Just so we know where we've got to, this company is still encouraging climbers to search for some digital tokens that have no proven value whatsoever, even though one experienced person involved in their placing lost his life in the process.
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@dcoder Inb4 they get metaphysical with it and claim the guide's soul is on the blockchain.
More seriously, though, you probably could make some estimate based on the value of the publicity stunt. I mean, it was a dumb stunt but they say any publicity's good publicity for a reason (we're talking about it, aren't we?). And a Mt. Everest climb is more easily "consumable" by the average person than yet another collection of 1s and 0s that somehow equals money.
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@blakeyrat said in A fool and his not-really-money are soon parted:
Bitcoin gold
"Well, fine, I'll make my OWN Bitcoin, and everyone will love it, and I'll be popular!"
{low user base allows for a 51% attack}
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@lorne-kates said in A fool and his not-really-money are soon parted:
"Well, fine, I'll make my OWN Bitcoin with Black Jack, and hookers, and everyone will love it"
FTFY
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@topspin said in A fool and his not-really-money are soon parted:
@pie_flavor said in A fool and his not-really-money are soon parted:
When the Pirate Party gets into Parliament, you know your country is simultaneously going down the shitter and getting a whole lot more fun.
Meh, depends, "pirate party" is probably too different across implementations in several countries to generalize.
When the pirate party here started getting traction, it was IMO basically synonymous with "The only people who understand technology and care about civil liberties", e.g. the only ones who understand the problems with voting machines. Unfortunately, just when they started becoming more main-stream visible and entering small local parliaments they got invaded by a bunch of SJWs looking for a "liberal" home (see civil liberties above), which drove the whole party into the ground with bullshit.
Over here they got invaded by right-wing extremists and people who'd probably now call themselves "incels". Result was the same.
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@rhywden Curious, I figured your and my "over here" would be the same. Anyways, yeah, same results.
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New theory: Satoshi Nakamoto is a CIA pseudonym. Long term goal was to destabilize Chicoms:
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To achieve remote code execution on a targeted node, all an attacker needs to do is upload a maliciously crafted WASM file (a smart contract) written in WebAssembly to the server.
As soon as the vulnerable process parser reads the WASM file, the malicious payload gets executed on the node, [...]
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@dcoder So remote code execution results in remote code execution? How... surprising.
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@topspin said in A fool and his not-really-money are soon parted:
@dcoder So remote code execution results in remote code execution? How... surprising.
Well, apparently the real issue is a buffer overrun which allows the code to break out of its sandbox.
the vulnerability is a buffer out-of-bounds write issue which resides in the function used by nodes server to parse contracts.
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@anotherusername Facts snark.
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This seems like a great idea, turn your retirement savings in to cryptocurrency that will be worthless by the time you retire.
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And this amusing comment chain on HN:
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@dcoder Every time someone talks about fiat currency, I'm thinking about paying with these (and wondering “why would you bother?”):
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@dkf HEY! DON'T YOU DARE! The old Fiat Panda (the only true Fiat Panda) is the best car ever made.
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Anyway, Bitcoin can't disappear soon enough. I'm fucking sick of having to endure the cheap, lazy, ugly stock images every article, website, whatever Bitcoin related thingy keeps poking my eyes with.