Are there any legitimate reasons for a person to use crypto to pay for something?
As an investor on the periphery/infrastructure that makes crypto, crypto.Yeah, same
I say, let it ride.
There was a time when the only things on the internet were porn and instructions for things like making bombs and free long distance calls.
I find the energy use case against far more compelling.
Crypto is basically the cornerstone of decentralized finance, which allows people to hold and share money without ridiculous transaction costs. I suppose that’s the same critique for why it’s so great for criminals (i.e., you don’t have to hold assets in a bank where they can be frozen). We love the crap out of civil asset forfeiture in the US.Are there any legitimate reasons for a person to use crypto to pay for something?
yes, but that's a super tiny bit of what its potential is.
Most everything but Bitcoin is moving towards a system (proof of stake) that makes the energy use much less of a concern.There was a time when the only things on the internet were porn and instructions for things like making bombs and free long distance calls.
I find the energy use case against far more compelling.
I don't think its as compelling rn because we mostly don't hear about ransomware stuff (energy use seems more transitory but this seems kind of baked in, but maybe I'm being dumb/uninformed)
As an investor on the periphery/infrastructure that makes crypto, crypto.This sounds like beems and the solar company.
I say, let it ride.
There was a time when the only things on the internet were porn and instructions for things like making bombs and free long distance calls.Do you dry your clothes on a line?
I find the energy use case against far more compelling.
I agree. Ban it.
Oh boyAs an investor on the periphery/infrastructure that makes crypto, crypto.This sounds like beems and the solar company.
I say, let it ride.
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I agree. Ban it.
It would be very on brand for the US to fall even further behind the world technologically by banning crypto.
I agree. Ban it.
It would be very on brand for the US to fall even further behind the world technologically by banning crypto.
i think we'll be able to manage without a technology that requires a small steam engine to record a simple transaction. as my new best friend pinboard said, this crap has been around for over a decade. if anyone was going to figure out something useful it could do, they'd have done so by now.
Seems like it has to be at least as much as a transaction using BTC.
Other digital transactions, like those powered by Visa, take less than a second and use roughly 1/500,000 the energy because they rely on a centralized authority to verify transactions.
what are you even doing, wetwillie?
Is that like with Venmo? I thought wiring money across countries was more involved. When I hear Visa I just think merchant transactions.QuoteOther digital transactions, like those powered by Visa, take less than a second and use roughly 1/500,000 the energy because they rely on a centralized authority to verify transactions.
crypto fans get a lot of mileage out of "just wait, someday someone is going to invent a version of this that doesn't suck complete ass", but at some point the clock's gonna run out on that.I was so certain you were trolling when you first said this I didn’t bother responding. Your argument is the equivalent of someone in the late 1970s railing about how useless the internet is.
was the internet still completely useless twelve years after it was invented?Well the first domain wasn’t registered until 1985 according to an internet source. I sense your “completely useless” qualifier might be a loaded question. I don’t think I’d call the early internet completely useless, but I think it’s also ridiculous to say the same about crypto considering it is being used currently.
there's no bait here. you've just decided to argue with the editors of forbes about the speed of a visa transaction for reasons unknown.
without personally measuring the speed of a visa transaction, i can observe all i need to know about the relative efficiencies seeing costco push like 5 million people a day through each warehouse while accepting visa and not warehousing a server farm in the artic to price croissants in bitcoin.
I think it’s also ridiculous to say the same about crypto considering it is being used currently.
There was a time when the only things on the internet were porn and instructions for things like making bombs and free long distance calls.Do you dry your clothes on a line?
I find the energy use case against far more compelling.
https://twitter.com/csuwildcat/status/1402753394951950339?s=19
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at what point does the mainstream buzz around digital currency become about more than how much of another currency it's worth? like how far off do experts think that is?
at what point does the mainstream buzz around digital currency become about more than how much of another currency it's worth? like how far off do experts think that is?
same question but gold
same question but gold
My explanation could be wrong, but I’m confident you’re missing part of the story.at what point does the mainstream buzz around digital currency become about more than how much of another currency it's worth? like how far off do experts think that is?
same question but gold
yeahhhhhh but gold makes fancy jewelry at least?
same question but gold
the people that claim gold is a currency are at least widely understood to be crazy people.
My explanation could be wrong, but I’m confident you’re missing part of the story.at what point does the mainstream buzz around digital currency become about more than how much of another currency it's worth? like how far off do experts think that is?
same question but gold
yeahhhhhh but gold makes fancy jewelry at least?
Most cryptocurrency is generated and used to perform transactions on block chains. So like if a recording artist wanted to license a song by NFT or create a smart contract on the Ethereum network, they would need to pay in ETH to do it. It has inherent value for that reason.
My understanding is super rudimentary, but i believe NFTs make it easier to track ownership than pretty much any other method. It is like having a completely electronic chain of title.it sounds like they figured out a way to make licenses the exact same as they were already.
So artist says, whoever holds this token has the right to use my work. Only one person can ever hold that token and it’s easy to see how the person got the token.
Are you familiar with the terms forgery or plagiarism?My understanding is super rudimentary, but i believe NFTs make it easier to track ownership than pretty much any other method. It is like having a completely electronic chain of title.it sounds like they figured out a way to make licenses the exact same as they were already.
So artist says, whoever holds this token has the right to use my work. Only one person can ever hold that token and it’s easy to see how the person got the token.
How do those terms apply to the song license hypo?Are you familiar with the terms forgery or plagiarism?My understanding is super rudimentary, but i believe NFTs make it easier to track ownership than pretty much any other method. It is like having a completely electronic chain of title.it sounds like they figured out a way to make licenses the exact same as they were already.
So artist says, whoever holds this token has the right to use my work. Only one person can ever hold that token and it’s easy to see how the person got the token.
How do those terms apply to the song license hypo?Are you familiar with the terms forgery or plagiarism?My understanding is super rudimentary, but i believe NFTs make it easier to track ownership than pretty much any other method. It is like having a completely electronic chain of title.it sounds like they figured out a way to make licenses the exact same as they were already.
So artist says, whoever holds this token has the right to use my work. Only one person can ever hold that token and it’s easy to see how the person got the token.
One big advantage is you don’t need some high priced attorney signing off on it!
I just don’t get it.How do those terms apply to the song license hypo?Are you familiar with the terms forgery or plagiarism?My understanding is super rudimentary, but i believe NFTs make it easier to track ownership than pretty much any other method. It is like having a completely electronic chain of title.it sounds like they figured out a way to make licenses the exact same as they were already.
So artist says, whoever holds this token has the right to use my work. Only one person can ever hold that token and it’s easy to see how the person got the token.
The point is that it's a contract that is foolproof in self-authenticating. Are you playing dumb or something? Because I know you to be an intelligent person.
I just don’t get it.
Sys you are positively Daxian in your purposeful ignorance here.
This might help explain for those actually interested https://www.goldmansachs.com/insights/pages/blockchain/
One big advantage is you don’t need some high priced attorney signing off on it!
No, but you'll apparently need high-priced me and catastrophe explaining the concept to old judges like they're children.
My explanation could be wrong, but I’m confident you’re missing part of the story.at what point does the mainstream buzz around digital currency become about more than how much of another currency it's worth? like how far off do experts think that is?
same question but gold
yeahhhhhh but gold makes fancy jewelry at least?
Most cryptocurrency is generated and used to perform transactions on block chains. So like if a recording artist wanted to license a song by NFT or create a smart contract on the Ethereum network, they would need to pay in ETH to do it. It has inherent value for that reason.
Why would someone want to license a song by NFT?
Refuse to regulate it through legislation but tax it to death. Seems about right.They really can’t figure out if it should be treated like an asset or like a security. Right now they’re going with the former. Government generally doesn’t care if you sell something expensive to someone else as long as you pay taxes on what you make.
Refuse to regulate it through legislation but tax it to death. Seems about right.They really can’t figure out if it should be treated like an asset or like a security. Right now they’re going with the former. Government generally doesn’t care if you sell something expensive to someone else as long as you pay taxes on what you make.
SEC has a totally different focus. That’s the dilemma.Refuse to regulate it through legislation but tax it to death. Seems about right.They really can’t figure out if it should be treated like an asset or like a security. Right now they’re going with the former. Government generally doesn’t care if you sell something expensive to someone else as long as you pay taxes on what you make.
The SEC would beg to differ
https://twitter.com/ummjackson/status/1415353984617914370?s=19
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SEC took a really public and embarrassing beating today. Former director Hinman will be deposed in part of the pre trial discovery of the Ripple vs SEC lawsuit. Wonder what he will say in regards to why he met with ETH foundation a week before declaring ETH was not a security and how his law firm (which paid him millions while he was the director of the SEC) sits on the Enterprise Ethereum Alliance.
SEC took a really public and embarrassing beating today. Former director Hinman will be deposed in part of the pre trial discovery of the Ripple vs SEC lawsuit. Wonder what he will say in regards to why he met with ETH foundation a week before declaring ETH was not a security and how his law firm (which paid him millions while he was the director of the SEC) sits on the Enterprise Ethereum Alliance.
Is that for real? That seems like it has to be highly illegal, not just a conflict of interest.
I -thought- the solution to this was to build into the system a kind of ledger so you could easily trace each transaction on the blockchain. Seems like a win-win, but I guess we’re not there yet?
https://twitter.com/PlanMaestro/status/1480243444262002692
Gensler talked a lot of crypto on cnbc this morning. Yep think he likes Eth and hates ripple.
Gensler talked a lot of crypto on cnbc this morning. Yep think he likes Eth and hates ripple.
Does Gensler hate Ripple more than Sys hates crypto? I think it may be close.
Yes a single transatlantic round trip creates a carbon footprint orders of magnitude greater than a bitcoin transaction, but I am still against banning such flights.
Look I don’t know how many people sit on a transatlantic flight but it sounded better than “many multiples” ok.Yes a single transatlantic round trip creates a carbon footprint orders of magnitude greater than a bitcoin transaction, but I am still against banning such flights.
How many orders of magnitude are you implying?
Should ban clothes dryers first.
https://twitter.com/csuwildcat/status/1402753394951950339
Should ban clothes dryers first.
https://twitter.com/csuwildcat/status/1402753394951950339
SBF really laid it out nicely on this weeks Odd Lots.
https://twitter.com/patdennis/status/1518637225789042688
i think we'll be able to manage without a technology that requires a small steam engine to record a simple transaction. as my new best friend pinboard said, this crap has been around for over a decade. if anyone was going to figure out something useful it could do, they'd have done so by now.
i think we'll be able to manage without a technology that requires a small steam engine to record a simple transaction. as my new best friend pinboard said, this crap has been around for over a decade. if anyone was going to figure out something useful it could do, they'd have done so by now.
cryptofans have had another year, anyone manage to figure out something besides doing crimes they can use it for yet?
say no more, the utility is obvious. a dao. nay, lots of daos.
Quote from: catastrophe link=topic=42653.msg2155488#msg2155488 date=165880724
Lots of DAOs up and running using tokens.
[/quote
say no more, the utility is obvious. a dao. nay, lots of daos.
My God. What have you done ...
Quote from: catastrophe link=topic=42653.msg2155488#msg2155488 date=165880724
Lots of DAOs up and running using tokens.
[/quote
say no more, the utility is obvious. a dao. nay, lots of daos.
I mean I just found out today I've currently got $17 worth of revenue share so far from a cryptocurrency I've been holding in an online game. I thought that was pretty neat.
Sys, if you fell into a vat of extremely sharp legos, I wouldn’t care.i think we'll be able to manage without a technology that requires a small steam engine to record a simple transaction. as my new best friend pinboard said, this crap has been around for over a decade. if anyone was going to figure out something useful it could do, they'd have done so by now.
cryptofans have had another year, anyone manage to figure out something besides doing crimes they can use it for yet?
I mean I just found out today I've currently got $17 worth of revenue share so far from a cryptocurrency I've been holding in an online game. I thought that was pretty neat.
Crimes are big business sys. I wouldn’t dismiss them so flippantly.i think we'll be able to manage without a technology that requires a small steam engine to record a simple transaction. as my new best friend pinboard said, this crap has been around for over a decade. if anyone was going to figure out something useful it could do, they'd have done so by now.
cryptofans have had another year, anyone manage to figure out something besides doing crimes they can use it for yet?
I assume your crotchety ass feels the same way about these new “Limited Liability Companies” that have cropped up the last few decades?I mean I just found out today I've currently got $17 worth of revenue share so far from a cryptocurrency I've been holding in an online game. I thought that was pretty neat.
oh, good. for a second there i was worried that i might have been wrong to reflexively dismiss the loads of daos running on tokens.
Crimes are big business sys. I wouldn’t dismiss them so flippantly.
between ukraine advancing in kherson, magas getting rebuked in the midterms and some crypto dumbass getting his ass handed to him, today's like, a really enjoyable day.
https://twitter.com/smdiehl/status/1590328775992311809
it was a house of cards? wow, i didn't know that. you're telling me now for the first time. it was an amazing scam, what else can you say? it was an amazing scam whether you agree or not. it was amazing scam that scammed an amazing number of people. i'm actually sad to hear that.
between ukraine advancing in kherson, magas getting rebuked in the midterms and some crypto dumbass getting his ass handed to him, today's like, a really enjoyable day.
finally got around to listening to the bankman-fried odd lots episode, and holy crap.Yes
Could there have been some political operatives looking out for FTX, WW?
Could there have been some political operatives looking out for FTX, WW?
Not sure but Ripple sure as crap greased the wheels of both political parties and still got the horns.
#blueanongE stands firm with their crypto grifterswut
I invest on the periphery of bitcoin. Not in bitcoin itself. But if you nuts want to keep it up, I’ll gladly keep investing in the infrastructure and related entities and funds that drive your lunacy.
What is the periphery of bitcoin? Bitconnect sure was…
Sure seems to me like that type of information should be public.Yes, wild that it can be private
Who we thinkin'? Sequoia? Softbank? Tiger Global? O'Leary (lmao)?
I think he’s trying to give himself permission
Refreshing to know that this bitcoin farm runs on electricity and not fuel-burning generators
Refreshing to know that this bitcoin farm runs on electricity and not fuel-burning generators
I think it runs on the CO2 generated by those sparse weeds growing in the flatland desert surrounding the facility.
Refreshing to know that this bitcoin farm runs on electricity and not fuel-burning generators
I think it runs on the CO2 generated by those sparse weeds growing in the flatland desert surrounding the facility.
Perhaps an unintended consequence…but that guy makes me want to go Rockdale TX to see if it makes the pantheon of “places with the freshest air I’ve ever breathed”
Can you say shots fired anymore? Or no?? Need a ruling from #blueanongEWas wondering where your sudden crypto pivot was coming from
https://www.coindesk.com/consensus-magazine/2023/04/11/the-new-york-times-skewed-bitcoin-mining-expose-reveals-blatant-bias/
what a lovely technology.Cash is used for the same thing yet you use it every day without batting an eye.
https://twitter.com/dnvolz/status/1667890297794183172
i think we'll be able to manage without a technology that requires a small steam engine to record a simple transaction. as my new best friend pinboard said, this crap has been around for over a decade. if anyone was going to figure out something useful it could do, they'd have done so by now.
cryptofans have had another year, anyone manage to figure out something besides doing crimes they can use it for yet?
If you STILL are this stupid and don’t understand when the CEO of the largest investment fund in the world is changing his tune, well, then you’re just pretty rough ridin' stupid.i think we'll be able to manage without a technology that requires a small steam engine to record a simple transaction. as my new best friend pinboard said, this crap has been around for over a decade. if anyone was going to figure out something useful it could do, they'd have done so by now.
cryptofans have had another year, anyone manage to figure out something besides doing crimes they can use it for yet?
well another year has come and gone, i'm sure our brightest minds have come up with tons of great new uses for cryptocurrency...
oh, wait, this is very surprising, but it seems it's still nothing but crime and selling it to even dumber asses.
@sys do you ever send money cross border or know anyone who does so regularly? XRP is/was supposed to be able to instantly settle those type of transactions much more cost efficiently than what exists today. I’ve never done it so not sure how much is left to be desired by current cross border payment solutions.
‘unprecedented failure’ . . . words uttered by a court appointed overseer of FTX who goes all the way back to Enron.
Are you really going to take a victory lap for your justice department, cat. I mean :lol: :lol:
Edit:
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.
‘unprecedented failure’ . . . words uttered by a court appointed overseer of FTX who goes all the way back to Enron.
Are you really going to take a victory lap for your justice department, cat. I mean :lol: :lol:
Edit:
“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.
Makes sense. Thanks.
25 years. Looking forward to Dax letting us know where this lands on the "friends with Democrats" scale?
They’re not all going to be haymakers (but a lot of them are it’s amazing you’re still on your feet)
They’re not all going to be haymakers (but a lot of them are it’s amazing you’re still on your feet)
"You never got me down, BAC .... You never got me down!"
FWIW, I enjoyed your post, brother.
They’re not all going to be haymakers (but a lot of them are it’s amazing you’re still on your feet)The unilaterally declared haymaker from the master of frontier gibberish . . . is something
They’re not all going to be haymakers (but a lot of them are it’s amazing you’re still on your feet)The unilaterally declared haymaker from the master of frontier gibberish . . . is something
Stacked on top of Sam being the darling of #blueanon political and thought leaders as documented in this thread
BAC: Always 3 or 4 laps down and now seeking self esteem support from #blogkaren
Sad #frown
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There’s no reason to rage out like this.They’re not all going to be haymakers (but a lot of them are it’s amazing you’re still on your feet)The unilaterally declared haymaker from the master of frontier gibberish . . . is something
Stacked on top of Sam being the darling of #blueanon political and thought leaders as documented in this thread
BAC: Always 3 or 4 laps down and now seeking self esteem support from #blogkaren
Sad #frown
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Some people are just nice to each other. You should give it a shot if you are able to take some time out of your busy schedule of being a total shitbeast 24/7/365