A fool and his not-really-money are soon parted
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@sockpuppet7 So many of these sound just like this:
KodakCoins will work as tokens inside the new blockchain-powered KodakOne rights management platform. The platform will supposedly create a digital ledger of rights ownership that photographers can use to register and license new and old work. Both the platform and cryptocurrency are supposed to “empower photographers and agencies to take greater control in image rights management,” according to the press release. The digital currency is meant to create a new economy for photographers to receive payment and sell work on a secure platform.
The only function I can see for this sort of thing is vendor lock in.
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@sockpuppet7 said in A fool and his not-really-money are soon parted:
Fuck Kodak.
@boomzilla said in A fool and his not-really-money are soon parted:
The only function I can see for this sort of thing is vendor lock in.
They would.
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@blakeyrat said in A fool and his not-really-money are soon parted:
There have been recent attacks where people have called a phone company and taken over another person's phone number (which is social engineering easier than most technical hacks).
You don't even need to do social engineering.
Basically you open a telecom company, register it with the proper credentials in the country of your choice and then use the international telecom backbone network to reroute calls / SMS to your heart's content.
Because said backbone doesn't really have any kind of authentication method built-in, it's rather easy (at least on the telco side, that is).It's one of the consequences of allowing easy roaming.
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@rhywden said in A fool and his not-really-money are soon parted:
You don't even need to do social engineering.
Basically you open a telecom company, register it with the proper credentials in the country of your choice and then use the international telecom backbone network to reroute calls / SMS to your heart's content.
(emphasis added) Social engineering sounds easier, actually.
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@rhywden said in A fool and his not-really-money are soon parted:
Basically you open a telecom company,
People who have $5.75 in the bank can do social engineering. There's a lot fewer people who are capable of opening a telecom company.
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@blakeyrat said in A fool and his not-really-money are soon parted:
Hm. Interesting. I might have to take another look... if it's smart about picking the right coin at the right moment, it might make sense.
Back when I dabbled in it, the idea was always to scour the announcements of new coins, be there for the launch, mine for a night before the difficulty catches up, and then hope the coin value moves away from zero for long enough for you to dump them on the market.
If the coin was already topping the BTC/hash charts, all the coin-switching miners would move to it and ramp the difficulty up, so mining established coins would generally gravitate to the level of barely paying off the costs unless they had something else going on for them.
With a better graphics card than my rusty 760 and the BTC price itself spiking it might be a bit better, but I wouldn't expect any hardcore megabucks.
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@boomzilla said in A fool and his not-really-money are soon parted:
@rhywden said in A fool and his not-really-money are soon parted:
You don't even need to do social engineering.
Basically you open a telecom company, register it with the proper credentials in the country of your choice and then use the international telecom backbone network to reroute calls / SMS to your heart's content.
(emphasis added) Social engineering sounds easier, actually.
But it's unreliable. This method always works.
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@maciejasjmj said in A fool and his not-really-money are soon parted:
With a better graphics card than my rusty 760 and the BTC price itself spiking it might be a bit better, but I wouldn't expect any hardcore megabucks.
You still have to be able to mine enough to get the mining pool's minimum payout.
Minimum payout on ZPool is 0.0025. Right now I'm maybe a tenth of the way there.
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Damn, 'ed. Ah, what the hell, I'll post it anyway, because TomoNews.
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Well, that's embarrasing:
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Due to network congestion and manual processing, we have closed ticket payments using Cryptocurrencies — Hopefully, next year there will be
more unity in the community about scaling and global adoption becomes realityno more crypto currencies.FTFY
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I was tempted to invest based on the greater fool theory, but I think it's too late for that.
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@sockpuppet7 said in A fool and his not-really-money are soon parted:
I was tempted to invest based on the greater fool theory, but I think it's too late for that.
It is never too late to be a fool.
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@adynathos It's not, but we need enough greater fools for it to be profitable.
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@sockpuppet7
Where's your sense of social justice? Why are you withholding a greater fool from the people who came before you in the pyramid? You need to think of the greater good here
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@izzion better create a new altcoin so we are at the top of the pyramid. what do you think, let's create a WTFcoin?
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@sockpuppet7 said in A fool and his not-really-money are soon parted:
let's create a WTFcoin?
I can give you a few likes on TDWTF in exchange for a few $.
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@sockpuppet7 See my suggestions up-thread.
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@topspin No way I'm going to look all this thread history hunting for that
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@sockpuppet7 Here's the in-topic derail OP regarding WTFCoin:
@topspin said in A fool and his not-really-money are soon parted:
So I've been thinking: the hype seems to be going at full force right now, it can't be more than months before this whole thing collapses.
Is there any way we can still profit from this bullshit in a way that's not buying into the bubble?
Obviously we can just invent another altcoin. But there's no reason why WTFCoins would be worth anything, just like all the other altcoins. (Which also proves how arbitrary bitcoin is)
I've not completely understood what Ether is. As far as i can tell, though, it's purpose is exactly that: provide a framework so everybody can build their own scam and throw around buzzwords like smart contracts to make sheep buy it.
The CryptoKitty thing was the perfect example of this. Completely useless, obviously stupid, yet in hindsight such an obvious avenue to build another scam. The guy with the "give me your money and if you behave well I might give it back" is also pretty clever.
So, Request for Comments: what can we do for our own CryptoWTF project? The more obviously stupid the better, apparently.
Found (surprisingly) by using NodeBB search...
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@tsaukpaetra thanks. I think there is no reason WTFcoin to not work. Dogecoin was a joke too. And we would be mining WTFcoin first, so we don't need to invest actual money.
Just fork something like dogecoin and we start mining.
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@sockpuppet7 Sign up with ZPool and you'll have tons of computer power. ZPool does whatever flash in the pan comes around, they don't care.
If you do it, let me know so I'm in on the ground floor.
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Filed under: Might be a real currency after all
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@izzion said in A fool and his not-really-money are soon parted:
Filed under: Might be a real currency after all
This is super old news. The article's talking about the shenanigans that went on at Mt Gox, but I remember seeing an article analyzing exactly that, in detail, more than 3 years ago when it was still recent.
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2017: This cryptocurrency/blockchain stuff couldn't get any dumber.
2018:
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@polygeekery
The cynic in me thinks this is a good use of the indelible-until-computers-gain-enough-power-to-brute-force-the-current-crypto ledger technology.The realist in me thinks it's just stupid.
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@polygeekery said in A fool and his not-really-money are soon parted:
2017: This cryptocurrency/blockchain stuff couldn't get any dumber.
2018:
I was under the impression even a signed statement doesn't hold value in those matters, and they think blockchain will help?
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@pleegwat
Well, you know, typical me-lineal thinking... "Oh, this problem isn't solved yet because I haven't tried to solve it. Hold my beer!"
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@izzion said in A fool and his not-really-money are soon parted:
@pleegwat
Well, you know, typical me-lineal thinking... "Oh, this problem isn't solved yet because I haven't tried to solve it. Please give consent to hold my beer!"FTFY and BRB, checking if "HoldMyBeer" is already trademarked.
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@izzion said in A fool and his not-really-money are soon parted:
@polygeekery
The cynic in me thinks this is a good use of the indelible-until-computers-gain-enough-power-to-brute-force-the-current-crypto ledger technology.The realist in me thinks it's just stupid.
The realist in me realizes that it does not mean consent to everything past the point of getting the initial (and only) consent.
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@izzion said in A fool and his not-really-money are soon parted:
The cynic in me
The cynic in me thinks about how shitty this would make the encounters where you might actually need it. Imagine telling the one night stand you picked up at the bar that she needs to install an app, download and process the entire blockchain, send you her details, you request consent, then wait for your turn in the mining pool before you have sex.
She would just leave, because you suck at foreplay.
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@polygeekery said in A fool and his not-really-money are soon parted:
The realist in me
I hope you gave consent
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@polygeekery
Clearly you're just not looking for one night stands at the right bars... Surely there's someone out there where...Oh, baby, tell me more about the blockchain, you're making me so hot right now
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@izzion said in A fool and his not-really-money are soon parted:
you're making me so hot right now
you shouldn't run the blockchain calculus with the phone in your pocket ...
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@izzion oh, there are. I had a gf that loved nerdy things and would get turned on by them. I remember she once jumped me in the garage as I was hand lapping a heatsink for my first overclocking rig.
Not even she would find waiting for blockchain to process before sex to be sexy.
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@luhmann said in A fool and his not-really-money are soon parted:
@izzion said in A fool and his not-really-money are soon parted:
you're making me so hot right now
you shouldn't run the blockchain calculus with the phone in your pocket ...
Pretty sure if you use your phone to do that processing that you'll never get laid.
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@dcon said in A fool and his not-really-money are soon parted:
@luhmann said in A fool and his not-really-money are soon parted:
@izzion said in A fool and his not-really-money are soon parted:
you're making me so hot right now
you shouldn't run the blockchain calculus with the phone in your pocket ...
Pretty sure if you use your phone to do that processing that you'll never get laid.
It might be feasible in the early days. After several years, if it were used enough, then you might have to get consent a few days in advance.
You: "Hey, wanna hook up next weekend?"
Skanky chick at the bar: "Sure, send me a consent invite."Next weekend she bangs Chad instead. Goddamn Chad.
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@pleegwat said in A fool and his not-really-money are soon parted:
@polygeekery said in A fool and his not-really-money are soon parted:
2017: This cryptocurrency/blockchain stuff couldn't get any dumber.
2018:
I was under the impression even a signed statement doesn't hold value in those matters, and they think blockchain will
helpconvince people to give them money?Yes.
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@pleegwat said in A fool and his not-really-money are soon parted:
@polygeekery said in A fool and his not-really-money are soon parted:
2017: This cryptocurrency/blockchain stuff couldn't get any dumber.
2018:
I was under the impression even a signed statement doesn't hold value in those matters, and they think blockchain will help?
I mean, if you're going for non-consensual sex, who's to say the
signed statementphone swipe was voluntary?
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@luhmann Is that phone in your pocket doing blockchain or are you happy to see me?
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@greybeard said in A fool and his not-really-money are soon parted:
doing blockchain
This sounds like a good general purpose euphemism.
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@hungrier Today we have Netflix and chill. Soon it'll be Daydream and blockchain.
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My friend who was interested in buying a mining ASIC machine missed a chance by literally seconds. The Antminer S9 was in stock, he added two to his cart, then went back to the store to grab the PSUs (which aren't included), and by the time he got back to his cart, the S9's were sold-out. (Then I broke it to him that: 1) S9s can use normal off-the-shelf gaming PC PSUs, and 2) even if he wanted the Antminer brand PSUs, he could have just bought them in another transaction once he'd checked out. This is because I am a jerk.)
Now Bitcoin's down over 30%.
He might have dodged a bullet. I told him that and then he said: "no I just bought $2500 in Bitcoin Cash, and it's down too!"
I'm "successful" at cryptocurrency because I place zero importance on it, and just bought some as a lark with money I'd have wasted on a pizza or something anyway. Taking it seriously is how you lose the game.
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@blakeyrat said in A fool and his not-really-money are soon parted:
I'm "successful" at cryptocurrency because I place zero importance on it, and just bought some as a lark with money I'd have wasted on a pizza or something anyway. Taking it seriously is how you lose the game.
That's how I feel about gambling--if you do it for entertainment, it's no worse than watching a stupid movie. People who take it seriously and get personally invested lose everything.
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@blakeyrat said in A fool and his not-really-money are soon parted:
@sockpuppet7 Sign up with ZPool and you'll have tons of computer power. ZPool does whatever flash in the pan comes around, they don't care.
If you do it, let me know so I'm in on the ground floor.
I didn't try that yet because I don't think my old laptop without a GPU to do any good.
@blakeyrat said in A fool and his not-really-money are soon parted:
just bought some as a lark with money I'd have wasted on a pizza or something anyway.
I thought about buying something like 2$ on bitcoin, but then I read about the fees and gave up on that.
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On a normal day, "Bitcoin dropped below $10k" would be the worst news of the day… but not today.
Bonus: panic mode engaged!
Source: @francispouliot_