A fool and his not-really-money are soon parted
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@izzion said in A fool and his not-really-money are soon parted:
In the same way that your computer has more than 1 MB of RAM.
My computer has more than 1024KB of ram, thank you very fucking much.
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@Lorne-Kates So not only does it have more than 1MB, it has more than 1MiB.
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640k ought to be enough for... FUCK YOU, GIVE ME MEMORY!
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Jesus Musk on a manned mission to Uranus!
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@Applied-Mediocrity has anyone created HyperCoins yet?
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@boomzilla They tried, but the miner got bored stuck in a loop.
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I wonder if SMBComics is going to get DOSed for this heresy:
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@JBert said in A fool and his not-really-money are soon parted:
I wonder if SMBComics is going to get DOSed for this heresy:
oh no the cryptonerds are going to strike at him with the blockchain!
every packet the ddos sends will first be serialized and examined to keep the order of operations intact.
then they'll send the packets one at a time, with a several minute pause between each packet to determine if the packet was delivered properly, and who should be next.
then it turns out there were only two dudes actually in the ddos, and the rest were just random hackers who used the ddos to steal the bitcoin wallets from those two dudes.
SMBC notices a small blip in his firewall. the attack took up less bandwidth than browsers requesting his favicon.
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@Lorne-Kates said in A fool and his not-really-money are soon parted:
SMBC notices a small blip in his firewall. the attack took up less bandwidth than browsers requesting his favicon.
What do you want, it's difficult to get a proper DDOS running if you have to provide Proof of Work for every packet.
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@Lorne-Kates
More likely, someone discovers a remote ACE zero-day in SMBC’s http server and uses it to set up a shitcoin miner on their server, bringing the site to its knees.
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Today in the news: Two Bitcoin mining companies who were going for cheap computing in northern Sweden went bust. Both left a bunch of unpaid debts, even though one never even started mining.
The Miami-based company NGDC ... stopped mining earlier this autum. The explanation is that [power company] cut the power due to unpaid bills.
How much in unpaid bills? Nearly $1.6M in debt to the power company. Oh, and attempts to contact the company has failed so there's that too. The other company that never even started mining only left $55k in unpaid rents. I know that someone was planning to start in my hometown too, guess that project never got off the ground either as I've heard nothing about it since.
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@Atazhaia
If only the power company would have been forward thinking enough to accept bitcon, then everyone could be still happy.
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@Atazhaia said in A fool and his not-really-money are soon parted:
How much in unpaid bills? Nearly $1.6M in debt to the power company.
HOW? How in holy hell do you manage to use that much electricity in such a short period of time?
HOW...
oh.
Yes, I know it's probably a stock photo of a shitcoin operation, but if it's indicative of such a setup-- yeah, I guess that's how.
Sidenote: love the HAND DRAWN sharpie-on-cardboard server bay markers.
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@Lorne-Kates Operation costs (including electricity) of supercomputers are usually higher than purchase costs. I'd guess shitcoin mining centers are not much different from that.
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@topspin said in A fool and his not-really-money are soon parted:
Operation costs (including electricity) of supercomputers are usually higher than purchase costs.
Electricity is by far the largest single cost of a supercomputer or a big cluster. Also cooling, but that's all electrically-powered chillers so it goes on the same bill anyway because the power company sure doesn't care whether you're using that megawatt-hour to run a bunch of chips or an AC unit. The other big cost will be the costs of having a building physically large enough to hold the system. Whether they're the amortised purchase/construction costs or the rental, that's still a big chunk of the expenses over the operating life.
Staff and software costs vary a lot depending on the exact service offered. Can be significant, or can be trivial.
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All hail the bitcoin revolution!
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@dkf said in A fool and his not-really-money are soon parted:
Can be significant, or can be trivial.
Depends if you pay them in dollars or shitcoins.
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@dkf said in A fool and his not-really-money are soon parted:
Also cooling
Wasn't there something in the news a while back about Facebook moving a load of their datacentre stuff to Alaska because the reduced cooling costs made it worth the price of moving/setting up a new detacentre?
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@Jaloopa said in A fool and his not-really-money are soon parted:
detacentre
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Bitcon's wayward grifter, Bitcon You-Wish-It-Was-Cash, is about to hard fork again (today), since they're all still wrestling with No True CryptoCurrency questions. So, the price of all cryptos takes a 10%+ bloodbath yesterday.
Not actually the least plausible reason I've heard for a market crash, even in RL
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@pie_flavor said in A fool and his not-really-money are soon parted:
@Jaloopa said in A fool and his not-really-money are soon parted:
detacentre
Center and centre have the same meaning. Center is the correct spelling in American English, but British English writers usually prefer centree
In conclusion, STFU
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More hard fork drama...
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@Jaloopa
Yes, but even in the most wild Brexit fantasy land, nobody stores Deta on their computer.
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@izzion Well, the conclusion still stands. There's nothing clever or amusing about quoting a spelling mitsake. If @accalia was still around, @pie_flavour wouldn't have time for anything else
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@Jaloopa said in A fool and his not-really-money are soon parted:
British English writers usually prefer centree
I've never seen that particular spelling.
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@Jaloopa said in A fool and his not-really-money are soon parted:
There's nothing clever or amusing about quoting a spelling mitsake.
Asking for clarification if the word is so badly misspelled that you can't figure out what the author was trying to say is fine. Making a joke about it is also ok (even if the joke turns out to be not funny). Helping one of our ESL members improve their mastery of English (e.g., if the misspelling is subject to one of English's arcane spelling rules or due to confusion of homonyms) is good. But just quoting the misspelled word with no comment is lame and annoying.
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@TimeBandit Scroll up.
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@pie_flavor said in A fool and his not-really-money are soon parted:
@TimeBandit Scroll up.
Scroll down
Scroll all around.
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@Lorne-Kates said in A fool and his not-really-money are soon parted:
Scroll all around.
Round, round,
Scroll round.
I scroll around.
I scroll arouuuuuund,
Scroll around
I scroll around…
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@pie_flavor said in A fool and his not-really-money are soon parted:
@TimeBandit Scroll up.
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@TimeBandit 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:
@TimeBandit Scroll up.
Ok, I have to ask, what does the 'kneeling warthog' emoji mean? I've seen it used like this a bunch and I've never picked up on what it means.
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@mikehurley said in A fool and his not-really-money are soon parted:
what does the 'kneeling warthog' emoji mean?
I could explain it, but
On a more serious note, it can be summed up as "I'm too lazy to do it"
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@mikehurley
The root meme: https://what.thedailywtf.com/topic/11847/the-official-likes-topic/66908Edit: Basically, around the time that the NFL kneeling protests were getting a bunch of attention again, @boomzilla posted a kneeling warthog in protest of being accused of doing work, and that's kind of morphed into mods protesting being made to do work (or plebs joking about mods' protests when made to do work).
And as @boomzilla himself, Godfather of the Warthog, expanded on my explaination in Why is Status thread locked?:
@izzion Also inspired by [Civilized] Salon floof taxes.
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@izzion There are a huge number of reasons why Crypto has fallen.
However it has been relatively stable over the last 2 months.
Most of the the people selling coin off has ended now. The hype has ended and people are looking at sensible uses for it.
Yeah there is going to be another hard fork, but I will get get some free coin and probably sell whatever ends up being a dead end.
I think you are overselling the problem IMHO.
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@sweaty_gammon
I mean, the root of the problem is that Bitcoin is valued at US$5,553.08 more than its intrinsic value at this point. And the network still isn't anywhere close to providing any value-add proposition compared to traditional payment (you can't pay your taxes with it, you can't confirm transactions as quickly as Visa/MC, and the "swipe fee" is extremely high for small to mid-size transactions). But hey, maybe we'll still get another really big Chinese Tax Avoidance bubble this winter. Or maybe Silk Road vNext will happen and spur the value of the "anonymous" currency some more.
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@izzion Any currency is valued by confidence unless it is based on something like the Gold Standard. I am not by any means an expert in Economics but It is quite obvious that any form of currency is based on confidence.
So it is completely subjective, but the consensus is that is it worth in most exchanges ~ $5,500 is perfectly fine.
You opinion just happens to be outside of the consensus.
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@sweaty_gammon said in A fool and his not-really-money are soon parted:
@izzion Any currency is valued by confidence unless it is based on something like the Gold Standard. I am not by any means an expert in Economics but It is quite obvious that any form of currency is based on confidence.
So it is completely subjective, but the consensus is that is it worth in most exchanges ~ $5,500 is perfectly fine.
You opinion just happens to be outside of the consensus.
The consensus used to be that it's worth around $20k. I wouldn't trust the consensus too much.
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@sweaty_gammon said in A fool and his not-really-money are soon parted:
@izzion Any currency is valued by confidence unless it is based on something like the Gold Standard. I am not by any means an expert in Economics but It is quite obvious that any form of currency is based on confidence.
So it is completely subjective, but the consensus is that is it worth in most exchanges ~ $5,500 is perfectly fine.
You opinion just happens to be outside of the consensus.
My money's on you being a @lucas1 alt.
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@topspin The consensus at the time was it was worth that much.
This might be a revelation for you but currency values whether they are crypto or traditional currencies change all the time. Based on a number of factors.
e.g. Two days ago the pound went up in value because a "brexit agreement was made with the EU", Yesterday it went down after the British Prime minister was discredited after the deal was critique in the British Parliament.
When Bitcoin hit the top of its value, there was quite a lot of hype and confidence, also everyone was buying. If lost of people buy the price rises. People have been selling for over a year and the price has been somewhat stable after everyone shorted their position.
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@sweaty_gammon said in A fool and his not-really-money are soon parted:
This might be a revelation for you but currency values whether they are crypto or traditional currencies change all the time. Based on a number of factors.
Yeah, but a fiat currency backed by a country like the UK isn't in the same realm as rando crypto currencies no matter how many hipsters tell you otherwise. Crypto stuff is still speculative craziness as opposed to a medium for storing value and for decreasing friction in trading goods and services.
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@sweaty_gammon Yes, it's called volatility, and it's highly correlated to how much you can "trust the consensus". Go ahead and compare the volatility w.r.t USD for EUR, Turkish Lira, and BitCoin. Report back the results.
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@pie_flavor said in A fool and his not-really-money are soon parted:
@sweaty_gammon said in A fool and his not-really-money are soon parted:
@izzion Any currency is valued by confidence unless it is based on something like the Gold Standard. I am not by any means an expert in Economics but It is quite obvious that any form of currency is based on confidence.
So it is completely subjective, but the consensus is that is it worth in most exchanges ~ $5,500 is perfectly fine.
You opinion just happens to be outside of the consensus.
My money's on you being a @lucas1 alt.
Poor bet give the lack of spelling and grammar mistakes.
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@boomzilla It really depends what crypto currency you are talking about.
Ethereum for example is about smart contracts and you can create a sort of microtransaction framework. This is good for sites like Minds that have their own token system based on Ethereum.
DLive has LinoCoin but I dunno if that is on the block chain. But that isn't massively different that store reward points.
I think people are lacking imagination on how these can be used IMHO.
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@topspin This is true, but I'm noticing the other patterns.
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@sweaty_gammon said in A fool and his not-really-money are soon parted:
It really depends what crypto currency you are talking about.
It really does not.
Ethereum for example is about smart contracts and you can create a sort of microtransaction framework. This is good for sites like Minds that have their own token system based on Ethereum.
Look at this shit!
I think people are lacking imagination on how these can be used IMHO.
I think imagination has been getting ahead of utility.
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@boomzilla Yep that is what happens when something in over valued and is tied to another currency (Bitcoin).
As I said previously that it has stabilised in value for now.
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@boomzilla said in A fool and his not-really-money are soon parted:
I think imagination has been getting ahead of utility.
I think that is being a little unfair. Like anything new it is going to have its problems.
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@sweaty_gammon said in A fool and his not-really-money are soon parted:
I think people are lacking imagination on how these can be used IMHO.
Space heaters come to mind.