Bitcoin

A colleague of mine made about €5000 selling his dogecoin....when they went up to about €0.10. He's still kicking himself over that
 

Dave

Staff member
I'm down to $35 still. Had I logged in last week it would have been $47 so I'd have only been down $3. Not since I purchased would I even have broken even.
 
I bought some bitcoin to buy some specialized online tools that I didn't want to put on my credit card. In the 9 days it took the ACH to clear at CoinBase, I'd gone up $15. I was hoping to zero out, but now I have a balance hanging out :(
 
What kind of morons allow a loan with something as quickly depreciating as a computer?
Probably the same exact guys who would set up a a couple working part time with a $2 million mortgage in 2006 while making that loan the collateral for new financial investments. Finance people are the stupidest motherfuckers imaginable.
 

figmentPez

Staff member
Just take your money and flush it down the sewer:



What a giant, stinking turd of an idea, and all the crypto-bros will praise it anyway.
 

figmentPez

Staff member


So, if I understand this correctly, groups are trying to add NFTs into Bitcoin's blockchain, but that will cause multiple problems for using Bitcoin as currency, and even break some other Bitcoin uses.

HAHAHAHAHA!
 

figmentPez

Staff member
‘Bored Apes’ investors sue Sotheby’s, Paris Hilton and others as NFT prices collapse

"A group of investors is suing Sotheby’s Holdings Inc. and others over a 2021 auction and promotion of Bored Ape Yacht Club non-fungible tokens (NFTs) following a collapse in prices for the celebrity-endorsed collectibles.

"The four named plaintiffs in the class action lawsuit allege that the auction house 'misleadingly promoted' the NFTs and colluded with creator Yuga Labs to artificially inflate their prices."
 

figmentPez

Staff member


Texas paid bitcoin miner Riot $31.7 million to shut down during heat wave in August

"Riot said on Wednesday that it earned $31.7 million in energy credits last month from Texas power grid operator ERCOT. The company generated the credits by voluntarily curtailing its energy consumption during a record-breaking heatwave.

"The total value of the credits dwarfed the 333 bitcoin the company mined in August, worth about $8.9 million dollars as of the end of the month."
 


Texas paid bitcoin miner Riot $31.7 million to shut down during heat wave in August

"Riot said on Wednesday that it earned $31.7 million in energy credits last month from Texas power grid operator ERCOT. The company generated the credits by voluntarily curtailing its energy consumption during a record-breaking heatwave.

"The total value of the credits dwarfed the 333 bitcoin the company mined in August, worth about $8.9 million dollars as of the end of the month."
Hey Texas, I'm deliberately not using your power, too. Please transfer a similar amount to my account, thanks.
 

figmentPez

Staff member
More people are becoming aware that crypto causes noise pollution:

In a rural Kentucky community, the roar of a suspected crypto ‘mine’ never ends

TL;DR Kentucky has been trying to lure cryptocurrency mining to the state with discounted electricity rates, supposedly because it creates jobs (but we all know some sort of bribery is more likely), and now residents are going to get screwed. First by the noise, then by rising energy costs, then by economic collapse when the scammers skip town.
 
I'm curious what sort of jobs they thought a crypto mining operation would create. The whole point is that you just have a bunch of machines sitting there doing math, isn't it?
 

figmentPez

Staff member
I'm curious what sort of jobs they thought a crypto mining operation would create. The whole point is that you just have a bunch of machines sitting there doing math, isn't it?
I don't think anyone in power actually believes that this created jobs in Kentucky. There is work to be done; someone's got to do the construction work, maintain the cooling systems, swap out parts when they fail, etc, but most of that is just people in existing jobs.

But "I brought $$$ of business to Kentucky with my fiscal policies" makes for good campaign fodder, even if none of that money generated tax revenue (and may have actually cost the taxpayers money when all incentives are considered), and most of that money went to people who don't even live in Kentucky.
 
Bored Ape creator says UV lights at ApeFest burned attendees’ eyes and skin

Cryptobros at the event reported burning eyes, vision problems, and skin irritation. The groups behind the event investigated themselves and found that it was probably caused by UVA lights set up in one part of the event. However, we all know how good businesses are at investigating themselves, so there's still a strong chance some idiot used UVC lamps.
That's old news. They probably used industry grad UV-C lamps. At least it wasn't acid from a sprinkler.
 
Well, maybe not old news here, but we were talking about it elsewhere for a bit. Here is the video I posted there.



--Patrick
 
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What's up, TX and GA? Do y'all have something you want to share with the class?
NY: "I ain't do nuthin'!"
"Wait your turn, NY."

--Patrick
 
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