A fool and his not-really-money are soon parted
-
@PotatoEngineer said in A fool and his not-really-money are soon parted:
The one idiotic-but-true thing I can say about Bitcoin: every time it's crashed, it reached a new high later. As stupid as it is, it's market stupidity, and it can remain insane longer than I can remain solvent.
That could just be a new bunch of grifters trying to pull in more suckers. In other words, it will work... until it doesn't. Not a good idea to put life savings on that sort of bet.
-
@dkf said in A fool and his not-really-money are soon parted:
@PotatoEngineer said in A fool and his not-really-money are soon parted:
The one idiotic-but-true thing I can say about Bitcoin: every time it's crashed, it reached a new high later. As stupid as it is, it's market stupidity, and it can remain insane longer than I can remain solvent.
That could just be a new bunch of grifters trying to pull in more suckers. In other words, it will work... until it doesn't. Not a good idea to put life savings on that sort of bet.
Oh, totally. I'm planning on sticking a little more in crypto later (I have like $200 right now), but it's very much "play money" rather than "real investing".
-
@PotatoEngineer said in A fool and his not-really-money are soon parted:
@topspin said in A fool and his not-really-money are soon parted:
For a half-second, I thought it was a real billboard by some crazy franchisee, but I realized it's a photoshop for two reasons:
- Advertising is kinda slow to get up, unless you've prepared for it, so you're not exactly going to be able to respond to current events.
- McDonalds corporate handles the advertising, not the franchisees, and it wouldn't include a Greengrocer's Apostrophe.
- The building (as well as the one in front) has been torn down and rebuilt prior to the Cryptapocalypse. I know, 'coz I pass them every day on the way to work.
-
Relying on a third party API to tell you the price of volatile speculative assets in order to determine how much value of other volatile speculative assets to lend against them seems like a low risk, bank like behavior.
-
-
@PotatoEngineer said in A fool and his not-really-money are soon parted:
@dkf said in A fool and his not-really-money are soon parted:
@PotatoEngineer said in A fool and his not-really-money are soon parted:
The one idiotic-but-true thing I can say about Bitcoin: every time it's crashed, it reached a new high later. As stupid as it is, it's market stupidity, and it can remain insane longer than I can remain solvent.
That could just be a new bunch of grifters trying to pull in more suckers. In other words, it will work... until it doesn't. Not a good idea to put life savings on that sort of bet.
Oh, totally. I'm planning on sticking a little more in crypto later (I have like $200 right now), but it's very much "play money" rather than "real investing".
That's about as much as I have, too. All from a kind of bounty system that only pays in Shitcoin so it's not like I payed money for it.
-
-
-
The next cohort of suckers is being groomed already.
-
@boomzilla
Man, if only I had been cool enough to post that link sooner
-
@izzion sucks to be you.
-
@LaoC said in A fool and his not-really-money are soon parted:
Terra is working to revive LUNA. Will it revisit its old glory?
Betteridge to the phone, please.
-
-
You get Itchy & Scratchy money, and you get Itchy & Scratchy money, everyone gets Itchy & Scratchy money,
-
-
@TwelveBaud
+&numberofpostiwontlookupbecausemobile;
-
-
-
-
-
Terra legal team quits -> Class-action lawsuits brought up against Terra
-
Not sure if this has been posted yet, but it's delicious. In the replies: someone mentioned that women/nonbinary people are maybe 5-10% of the crypto space, and almost none of them would want to be involved in the Lonely Ape Dating Club.
Embed didn't seem to work, so here's the picture:
-
@PotatoEngineer a dating app based on shared terrible financial / life choices?
Solid idea.
-
@PotatoEngineer said in A fool and his not-really-money are soon parted:
Embed didn't seem to work
iframely does a very poor embed with Twitter, and has done for ages now.
-
@dkf I for one would welcome a forum plugin which would s/twitter.com/nitter.net/g
-
@dkf said in A fool and his not-really-money are soon parted:
@PotatoEngineer said in A fool and his not-really-money are soon parted:
Embed didn't seem to work
iframely does a very poor embed with Twitter, and has done for ages now.
Twitter wants to smuggle javascript into their oneboxes so iframely just gives you a pretty link.
-
Not sure if it's recent or real, found it doing the rounds on e.g. Twitter
-
@JBert The black level on the letters doesn't seem to match the rest of the picture and the lower left corner of the sign seems too low to me, so I'm thinking it's a photochop.
-
@Zecc said in A fool and his not-really-money are soon parted:
The black level on the letters doesn't seem to match the rest of the picture
That's not at all useful though, given that the rest of the picture wouldn't be expected to have a lot of black in it (due to weathering of paint/dyes, an effect that freshly put out sign letters wouldn't have undergone significantly yet).
More telling is that the letters seem to be perfectly aligned, and the surface that the letters are on seems suspiciously clean in the strips that the letters are placed on.
-
Also here's the original:
-
Of course I haven't actually watched the video (title="How This Man Just Caused a $45 BILLION Crash [Terra Luna]", in case embed fails):
https://www.youtube.com/watch?v=3KZY41SqaTIAnd a "things that remind you of TDWTF members" comment:
I've lost a staggering $35 in this crash and I'm totally devastated.
No Skittles for you.
-
Sucks for this guy but I guess this is why you shouldn't trust even 'stable' investments without care: https://www.theguardian.com/technology/2022/may/22/ukrainian-man-loses-life-savings-in-stablecoin-crypto-slump
-
@Arantor hopefully this is a lesson (that shouldn't have been required) that the shitcoins theoretically tied to real money aren't
-
Oh look it's another story on the nature of the situation... https://www.theguardian.com/technology/2022/may/22/tether-pays-out-10bn-in-withdrawal-since-crypto-crash
You know, I'm not sure these 'stable coins' are very stable.
-
@Arantor said in A fool and his not-really-money are soon parted:
Oh look it's another story on the nature of the situation... https://www.theguardian.com/technology/2022/may/22/tether-pays-out-10bn-in-withdrawal-since-crypto-crash
You know, I'm not sure these 'stable coins' are very stable.
In theory, they are... as long as whoever's propping up the stablecoin is always on the ball and instantly gives the coin the money/extra-coinage it needs in almost exactly the right amount.
What could possibly go wrong?
-
-
@Arantor said in A fool and his not-really-money are soon parted:
You know, I'm not sure these 'stable coins' are very stable.
So long as you're talking about the stable whose door should be bolted after the horse is gone...
-
@dkf And the "stable coins" are what the horse deposited in the stable before it left.
-
-
@Dragoon said in A fool and his not-really-money are soon parted:
Interviewer: So this criticism that you hear about Bitcoin, that it uses the energy of a small to mid-sized country, that is true? You point out in your YouTube lecture that there are a number of ways that the enthusiasts of Bitcoin make excuses for this. They say “Well, it’s actually clean” or “It’s not too much of a problem.” But it’s actually very, very wasteful.
WEAVER:
Yes. The biggest one is “this incentivizes green power.” Which it does in the same way that a whole bunch of random shootings would incentivize bulletproof vests.
-
@Dragoon Y'know, the last two weeks of lessons in a year usually see me doing something else because a) it's been a long semester and b) the grades are already set in stone.
I'm tempted to use those last two weeks around the topic of "Why crypto is stupid" just to make sure that none of my pupils waste their money on this. Just have to design it in a way where I don't come about as overwhelmingly negative, seemingly ignoring the supposed "positive" sides.
-
@Rhywden whoever it was that took this survey could have benefited from that:
Fortunately, developers are pretty on the pulse when it comes to knowing the direction in which tech is headed – it's part of their job, after all – and so knowing what developers are researching can be a good indicator of what's hot and what's not: handy if you're a budding coder looking to bring your knowledge up-to-speed.
Helpfully, SlashData's 2022 State of the Developer Survey offers some insights into what is currently commanding the attention of the world's software developers. According to its survey of 20,000+ coders, blockchain applications, cryptocurrencies, and NFTs have the highest share of developers learning about them.
-
"Developers learning about X" doesn't mean "developers think that X is good". It just means that "developers think there's money to be made from people who think X is good".
-
@Zerosquare sure, sure. There's money to be made in all sorts of evil endeavors. Doesn't mean we shouldn't try to teach people to recognize them as evil in the hopes that most of them will avoid those endeavors.
-
@boomzilla said in A fool and his not-really-money are soon parted:
Doesn't mean we shouldn't try to teach people to recognize them as evil in the hopes that most of them will avoid those endeavors.
E_UNWARRANTED_OPTIMISM
-
@Rhywden said in A fool and his not-really-money are soon parted:
seemingly ignoring the supposed "positive" sides
You could use it to heat the building in winter? I guess it's slightly better than just using a straight electrical heater for that.
-
@dkf 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:
seemingly ignoring the supposed "positive" sides
You could use it to heat the building in winter? I guess it's slightly better than just using a straight electrical heater for that.
Well, except that heat pumps are afaik more efficient than resistive heaters, and normal resistive heaters are more durable than graphics cards under constant load.
So no.
-
@topspin said in A fool and his not-really-money are soon parted:
normal resistive heaters are more durable than graphics cards
And are much less expensive.
-
-
@boomzilla said in A fool and his not-really-money are soon parted:
@Zerosquare sure, sure. There's money to be made in all sorts of evil endeavors. Doesn't mean we shouldn't try to teach people to recognize them as evil in the hopes that most of them will avoid those endeavors.
Can't blame them for making what they were taught were things of value