A fool and his not-really-money are soon parted
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@topspin I’m sure there’s a witty joke in there somewhere.
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In which traditional scummy finance notices modern scammy finance:
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Despite previously claiming that Tether was backed 100% by cash, the company’s breakdown of reserves at the time showed that less than 3% of Tether reserves were actually held in cash.
Nobody could have expected this.
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https://www.nytimes.com/2022/03/11/technology/bitcoin-ukraine-russia-roose.html
:skinner: Are we constantly wrong about everything?
No, it must be just that the little people don’t understand things yet.
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Wait until war breaks out, and authoritarians start seizing assets and imposing capital controls on their citizens. Wait until big banks and tech companies start censoring dissidents for their political views. Then you’ll see why we need a stateless, decentralized, anonymous digital currency.
I hear people in, for example, the besieged city of Mariupol are especially thankful for all their digital currencies at the moment.
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@izzion said in A fool and his not-really-money are soon parted:
https://www.nytimes.com/2022/03/11/technology/bitcoin-ukraine-russia-roose.html
:skinner: Are we constantly wrong about everything?
No, it must be just that the little people don’t understand things yet.Some thoughts.
Technological: Bitcoin only handles like 5 transactions a year, so it obviously cannot and never will be able to do what these people claim it does.
Societal: In such war times, reality is more likely to go down like "oh, you want to pay for your bread with these imaginary digital coupons? No thanks, I think I'll keep my bread!"
Political: If this actually worked, and Russia would just shrug off all the sanctions with "hurr durr, Bitcoin", you can bet that the rest of the world would absolutely make sure that this would be the end of Bitcoin. The cryptobros surely don't even want it to work, as that would endanger their little speculation/scam endeavour.
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@Arantor said in A fool and his not-really-money are soon parted:
@topspin I’m sure there’s a witty joke in there somewhere.
I think it's the Killing Joke... better left unstated as is traditional
Make me.
The coin of evidence, belief, and even rational standard has been watered, and is in the close vicinity of failure - this serves as the "bucolic propensity of the known" component. The "universal truth" component is that a doomed course must be abandoned.
Thus, to refer to belief simple as sheepdom, is a joke, and given the gravity it is also a Killing Joke.
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@topspin said in A fool and his not-really-money are soon parted:
The cryptobros surely don't even want it to work
See also: being deflationary by deliberate design, so even when somebody gives in and the cryptobros really do have an opportunity to actually buy stuff, they… don’t. Then whinge when the cryptocurrency payments they never used are no longer offered.
It’s an entire culture that hinges on HODLing, where anyone who dares cash out is an unforgiveable traitor. Then the exact same people somehow expect it function like a real currency anyway.
If your scheme requires some nebulous other people to act completely differently to you, maybe the scheme is shit.
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@kazitor That was clear right from the start: When you scheme is ultimately based on complete and utter distrust of everyone then it cannot ever be successful in the long run as its purpose is ultimately self-defeating.
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@Zerosquare said in A fool and his not-really-money are soon parted:
Weird, that doesn't look like Sunset Boulevard.
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@Rhywden I don't believe you.
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Think something about this was posted somewhere around here before:
While I am no fan of crypto-currency, powering their mining with waste gas is a brilliant idea.
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@Dragoon said in A fool and his not-really-money are soon parted:
powering their mining with waste gas is a brilliant idea.
Sure. It'd be a better idea to power useful stuff with it though.
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@loopback0 said in A fool and his not-really-money are soon parted:
@Dragoon said in A fool and his not-really-money are soon parted:
powering their mining with waste gas is a brilliant idea.
Sure. It'd be a better idea to power useful stuff with it though.
Yeah, but what are you usefully going to put out there?
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@Dragoon said in A fool and his not-really-money are soon parted:
@loopback0 said in A fool and his not-really-money are soon parted:
@Dragoon said in A fool and his not-really-money are soon parted:
powering their mining with waste gas is a brilliant idea.
Sure. It'd be a better idea to power useful stuff with it though.
Yeah, but what are you usefully going to put out there?
I don't really know how remote an area we're talking. Maybe it doesn't even need to be out there, maybe the waste gas (or generated electricity) could be transported somewhere else instead.
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@Dragoon said in A fool and his not-really-money are soon parted:
Yeah, but what are you usefully going to put out there?
Electrical power. That's well fungible and has clear value.
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The only economical way to move gas is via pipe. These are expensive, easily past the value of the waste gas in most cases as gas is cheap. The US also has a massive abundance of gas, so the big trans-continental pipes are all full.
Generated straight as electricity can be done and you will see larger operations useing some of their waste gas to power their operations. But putting it into the grid is generally not economical, for a myriad of reasons.
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@Dragoon said in A fool and his not-really-money are soon parted:
While I am no fan of crypto-currency, powering their mining with waste gas is a brilliant idea.
imagines pulling cryptocoins out of his ass
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@Dragoon said in A fool and his not-really-money are soon parted:
@loopback0 said in A fool and his not-really-money are soon parted:
@Dragoon said in A fool and his not-really-money are soon parted:
powering their mining with waste gas is a brilliant idea.
Sure. It'd be a better idea to power useful stuff with it though.
Yeah, but what are you usefully going to put out there?
Drills.
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Nah, the drilling is done.
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@Dragoon said in A fool and his not-really-money are soon parted:
Nah, the drilling is done.
Deeper! Greedier! We will drink Morlock blood tonight!
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Everything from Boston is terrible.
TLDR: Tom Brady retired in February. Like a month later, the last touchdown pass he threw in his career was auctioned off to this guy for $518k. The next day, Brady announced that he was going to come back out of retirement again. The guy's football is now worth about $500k less.
Brady heard about this, and tweeted to the Bitcoin company he's an owner of that the company should buy a Bitcoin (current value: $40k) and donate it to a charity that the guy picks.
What a fucking asshole.
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@GuyWhoKilledBear said in A fool and his not-really-money are soon parted:
Everything from Boston is terrible.
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@Applied-Mediocrity I'm so glad I'm not compatible with anything but Munchkin.
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@Gribnit Pretty sure I could come up with something if I actually knew anything about Marvel tries Gathering and assorted stuff. But I'm already putting more effort into shitposting than the approves, so l'll let you have that.
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@Gribnit said in A fool and his not-really-money are soon parted:
I'm not compatible with anything but Munchkin.
That's a great game to play with friends, alcohol, and no solid expectation of actually winning.
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@dkf said in A fool and his not-really-money are soon parted:
@Gribnit said in A fool and his not-really-money are soon parted:
I'm not compatible with anything but Munchkin.
That's a great game to play with friends, alcohol, and no solid expectation of actually winning.
Now that I've played that game many times, I've found that it's a bit too long for what it is. So I usually play a 7- or 8-level version instead.
(And yes, winning is usually a combination of large gobs of luck, a silver tongue, and being the third or fourth person to attempt hitting the winning level.)
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@TwelveBaud said in A fool and his not-really-money are soon parted:
In addition to "Warthogs of the Computer", the spell being green is a nice touch.
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@GuyWhoKilledBear said in A fool and his not-really-money are soon parted:
@TwelveBaud said in A fool and his not-really-money are soon parted:
In addition to "Warthogs of the Computer", the spell being green is a nice touch.
The warthog is our colorless mana.
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@ObjectMike said in A fool and his not-really-money are soon parted:
@GuyWhoKilledBear said in A fool and his not-really-money are soon parted:
@TwelveBaud said in A fool and his not-really-money are soon parted:
In addition to "Warthogs of the Computer", the spell being green is a nice touch.
The warthog is our colorless mana.
Is that how I'm supposed to read that? So much the better.
EDIT: Wait, no, it isn't. The mana symbol is "o0" which I don't recognize.
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@GuyWhoKilledBear The "o" is the backing circle for the "0" mana cost. Wizards has a font that takes care of such things for them, but to fire up an image editor.
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@TwelveBaud said in A fool and his not-really-money are soon parted:
@GuyWhoKilledBear The "o" is the backing circle for the "0" mana cost. Wizards has a font that takes care of such things for them, but to fire up an image editor.
Ah, see that's why. Usually writing about MtG (not using their font) people use W,U,R,B, and G for the colored mana costs. (U is for Blue to disambiguate it from Black.) GG would be "two green mana", while 2G would be "two mana of any color, plus one green mana."
A card with no mana cost has its cost written as 0.
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@TwelveBaud said in A fool and his not-really-money are soon parted:
@GuyWhoKilledBear The "o" is the backing circle for the "0" mana cost.
Unicode to the “rescue”! ⓪
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@GuyWhoKilledBear said in A fool and his not-really-money are soon parted:
@ObjectMike said in A fool and his not-really-money are soon parted:
@GuyWhoKilledBear said in A fool and his not-really-money are soon parted:
@TwelveBaud said in A fool and his not-really-money are soon parted:
In addition to "Warthogs of the Computer", the spell being green is a nice touch.
The warthog is our colorless mana.
Is that how I'm supposed to read that? So much the better.
EDIT: Wait, no, it isn't. The mana symbol is "o0" which I don't recognize.
I was more making a declaration/suggestion.
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Must have been a day ending in Y...
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@boomzilla yeah? Zero is a constant. Check_mate_, atheists.
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And Dilbert just taught me that beyond Bitcoin there's also Elbonium.
(https://dilbert.com/strip/2022-03-22)
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A person saying that gold atoms comprise a blockchain would have done nothing wrong!
Regardless, we do have really good scales now. I propose that all transactions be conducted in gold dust. Or, for the extravagant, cuttings from an exchange bar.
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@izzion TL;DR: Lots of line-by-line picking apart of his "sober, dispassionate explanation" showing that he's being anything but sober and dispassionate. In particular, he makes a bunch of claims about things people were or weren't saying a decade ago, without citing any sources, which are rebutted by citations to articles saying the opposite.
I didn't make it through the whole thing, but I read enough to conclude that he's not a reliable narrator, even if I hadn't already been biased in that direction.
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@Dragoon said in A fool and his not-really-money are soon parted:
waste gas
There's no such fucking thing, it just hasn't been advantaged yet.
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@Tsaukpaetra said in A fool and his not-really-money are soon parted:
There's no such fucking thing, it just hasn't been advantaged yet.
You mean for now it's just being wasted?
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@Zecc said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
There's no such fucking thing, it just hasn't been advantaged yet.
You mean for now it's just being wasted?
Oh it's being used, just not for the benefit of us.
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All sales funds will go to the Ministry of Digital Transformation to support the “army and civilians” of Ukraine.
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0.10 days without a lost crypto accident
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@izzion Is that the one I was reading about where the hackers took a short position on the stuff they'd just stolen (to further cash in on the results of the hack), and then nobody noticed and the hackers were wiped out before the missing funds were found to be gone?