The Crypto Thread

[WichitaDM]

PAK IS FREE MONEY!!!

[Dutch101]

At least half the F1 teams can do some much needed weight saving on their cars by removing their crypto sponsors.

[Yuv]

still not going to help danny ric

[bigt2k4]

I’m going to save my flexing abouy crypto crashes until bitcoin is under $800 as that was what I thought it could be worth due to criminal uses back in 2011

[zimmer4141]

https://twitter.com/edsbs/status/1536534368809795584

[Fossilkid93]

[anon29622970]

I got 100% ROI on my dot, so I’m a lifetime pak winner.

[danby]

Crypto = -60%
Riverman portfolio = -20%
Everyone 401K and portfolios in tech stocks = -26%

Fiat… 8% inflation:

[Trolly]

tbf, $100 Bitcoin is still on the table.

[Crunchyblack]

[danby]

Honestly the dunking on each other is why I come here. Guilty pleasure.

What else is there to talk about when everything falling?

[ParlaySlow]

@6ix

but you dont care about any of that, you just feel a subtle existential crisis

nailed it

[Riverman]

Things are going great at Coinbase

https://twitter.com/maxwellstrachan/status/1536704785612775427?s=21&t=gkPFFuq1LoCS8Fx76l-oag

[Trolly]

Do people feel they have to keep money on the exchanges for them to use Bitcoin or are they just incredibly dumb?

[bobman0330]

@6ix

making “a bitcoin” has been a computer science problem since basically computers existed (ya it’s mostly pointless but everything is); what changed was the storage size and not processing power, an unforeseen circumstance

it’s similar to synthesizers for music: when they were created the actual goal was to realistically emulate actual instruments, and whilst people realized how hard this was (it’s synthesizing the attack; the sustain is trivial) hard drive capabilities exploded; so people thought, fuck it, let’s just literally record every little nuance of how the instrument sounds; i have a grand piano VST that is 250gb in size no typo

so with bitcoin the solution was to just write down the entire blockchain as nutty as that wouldve sounded even in the early 2000s; it’s a fucking 400gb text file essentially and whilst we can fit that on our laptops, the bible is 4mb for comparison; this is both an elegant and ridiculously clunky solution to the problem but a solution nonetheless and bitcoin really is a marvelous invention

but you dont care about any of that, you just feel a subtle existential crisis behind how the cryptocurrency markets highlight the ridiculousness of the entire concept, especially traditional financial markets, so, i’m not sure why i taxed my fingers typing when i could’ve jabbed those same fingers in my eyeballs until i went blind or something

Umm, this isn’t how Bitcoin works though? Saving the whole chain is necessary, but the tricky part is having everyone agree on what’s in “the whole chain” and what isn’t. The Bitcoin solution to that problem is cool, but it’s not optimal for most (any?) problems. In a proof-of-work system, the honest participants have to be working harder at all times than any attacker could work just during an attack. That’s a ridiculously big cost.

[econophile]

I’m a little surprised Coinbase had 1,000+ employees to begin with

[Superleeds]

Hmm yeah i have my admittedly paultry crypto there

[Superleeds]

Pleading the fif on this

[zikzak]

@danby

Honestly the dunking on each other is why I come here.

This is a pretty terrible way to try and have a community and I really wish fewer people did this.

[jmakin]

wait WHAT