The anti-crypto thread

[BFG10K]

Great news, crypto's collapsing across the board: https://www.techpowerup.com/282380/...ions-in-less-than-24-hours-did-the-bubble-pop

Also China's banned crypto, though individuals can still have it: https://finance.yahoo.com/news/chinese-financial-payment-bodies-barred-122712260.html

The sooner this cancerous parasite is wiped out, the better.

 

[GrumpyMan]

So, if a giant Sun flare engulfed the Earth and all the electricity was cut off completely all over the Earth, how much would Eth and PoS be worth and how would you get to it? That's why I always keep $20 in my wallet and a gold coin in my sock, you never know.

 

[cytg111]

So, if a giant Sun flare engulfed the Earth and all the electricity was cut off completely all over the Earth, how much would Eth and PoS be worth and how would you get to it? That's why I always keep $20 in my wallet and a gold coin in my sock, you never know.

There is truth to this statement.
On the note of viability of the concept of a currency that is determined by your ability to produce power... I mean why stop at coal? Imagine dyson spheres doing nothing but pump out crypto... How many stars are you willing to snuff out in your quest for mooaaaar moooooneeeeey.

 

[Leeea]

There is truth to this statement.
On the note of viability of the concept of a currency that is determined by your ability to produce power... I mean why stop at coal? Imagine dyson spheres doing nothing but pump out crypto... How many stars are you willing to snuff out in your quest for mooaaaar moooooneeeeey.

Actually, it would seem the best way to extract energy quickly from a star would be to induce a singularity in the star. The resulting implosion type supernova would release a great deal of energy all at once, while eliminating all future output. But who cares about future output? There are lots of stars to nova. We will never run out.


ps: entropy is BS anyway. God gave us this universe to do as we please!

 

[maddie]

Actually, it would seem the best way to extract energy quickly from a star would be to induce a singularity in the star. The resulting implosion type supernova would release a great deal of energy all at once, while eliminating all future output. But who cares about future output? There are lots of stars to nova. We will never run out.


ps: entropy is BS anyway. God gave us this universe to do as we please!

Nah. We'll just extract the energy of the black hole itself. Slowly at first and then all at once.

 

[Leeea]

Nah. We'll just extract the energy of the black hole itself. Slowly at first and then all at once.

Sounds like the process will go off like a bang! Likely for the best anyway.

 

[aigomorla]

Nah if we can find a way to harness stupidity as energy, even the universe itself could not contain us. As i feel human stupidity even outpaces the universe in expansion even.

 

[beginner99]

So, if a giant Sun flare engulfed the Earth and all the electricity was cut off completely all over the Earth, how much would Eth and PoS be worth and how would you get to it? That's why I always keep $20 in my wallet and a gold coin in my sock, you never know.

As much as your balance on your bank account. 0.

 

[Leeea]

As much as your balance on your bank account. 0.

Sweet! I will get to kiss my mortgage goodbye!

Come on sun! you can do it!

 

[Mopetar]

So, if a giant Sun flare engulfed the Earth and all the electricity was cut off completely all over the Earth, how much would Eth and PoS be worth and how would you get to it? That's why I always keep $20 in my wallet and a gold coin in my sock, you never know.

The $20 and the gold coin would be worth about as much as the crypto. Lead would be worth more, particularly if it's in the shape of a bullet.

 

[Insert_Nickname]

and a gold coin in my sock, you never know.

You know, if that coin is heavy enough it might be... useful... in other ways in that situation.

 

[simas]

Well you can start staking right now if you whish to do so. Only issue is you need at least 32 ETH.

Thank you. I dont own any crypto (as far as I know) so that is not for me..

 

[simas]

The $20 and the gold coin would be worth about as much as the crypto. Lead would be worth more, particularly if it's in the shape of a bullet.

None of them 'keep value' - in most cases, these things are utterly useless as store of value (crypto in particular) for any real emergency/situation.

Out of curiosity I looked up ETH prices (~$2300 if I got it correct) - that right now in Chicago area is a rent on two bedroom apartment for two months, or a month of rent plus a month of food for five plus a pistol (or rifle) with ammunition to protect loved ones.. if you think in any emergency you can come up and offer to trade your 'digital coin' for anything of that , i don't know what else to say. With gold coin similarly, you get almost nothing (may get a food for dinner out of it as people were trading gold/jewelry for bread many times in history). crypto will get you absolutely nothing.

if you get your 3-S (Shelter , Sustenance, Security) already taken care of and dont see anything that is not diminishing returns, then yea play with whatever you like. As store of value for emergency, stay far away..

 

[GrumpyMan]

As much as your balance on your bank account. 0.

Yes of course, bank accounts would also be nil, however the bank account is backed up by FDIC and everyone knows the sun can't destroy our gubernment, I read that on the internet so it must be true.

 

[UsandThem]

Yes of course, bank accounts would also be nil, however the bank account is backed up by FDIC and everyone knows the sun can't destroy our gubernment, I read that on the internet so it must be true.

The only thing I know for sure if something catastrophic like this happened, the first thing everyone would do is run to the store and buy all the toilet paper.

(The more I think about it, I bet they really would).

 

[aigomorla]

everyone would do is run to the store and buy all the toilet paper.

This is the true world currency and canary to determine emergency.

If the supermarkets run out of toilet paper, you know the situation is very serious. (with a serious face)

 

[Leeea]

you can grow your own food
make your own bullets

but toilet paper? Good quality stuff? I will trade you 3 rolls of charmin for the kid, the horse, the rifle, and 10 sacks of grain.

... you know your going to take the deal.

 

[Mopetar]

you can grow your own food
make your own bullets

but toilet paper? Good quality stuff? I will trade you 3 rolls of charmin for the kid, the horse, the rifle, and 10 sacks of grain.

... you know your going to take the deal.

Forget ETH or Dogecoin, invest in bidets.

In the land of the paperless the man with a warm jet of water is king.

 

[rstrohkirch]

Forget ETH or Dogecoin, invest in bidets.

In the land of the paperless the man with a warm jet of water is king.

Where are you getting the warm water? From the camp fire pot?

 

[moonbogg]

Forget ETH or Dogecoin, invest in bidets.

In the land of the paperless the man with a warm jet of water is king.

Warm? Mine hit's me cold and hard like an arctic supersoaker. I like the direction this thread is moving. I approve fully, although if they let me run things around here I'm afraid the site would devolve into Anandchan or somesuch.

 

[Hitman928]

Warm? Mine hit's me cold and hard like an arctic supersoaker. I like the direction this thread is moving. I approve fully, although if they let me run things around here I'm afraid the site would devolve into Anandchan or somesuch.

You just have to get an electric one.

https://www.amazon.com/TOTO-SW2014-01-Electronic-SoftClose/dp/B0165UFOGS/ref=sr_1_28?dchild=1&keywords=electric+bidet+dio&qid=1621882297&sr=8-28

 

[cytg111]

Where are you getting the warm water? From the camp fire pot?

Well you are likely to take a leak before you dump, so...

 

[rstrohkirch]

Recycle

 

[aleader]

Good discussion, a lot here know a lot more than I do about Crypto, but my gut tells me it's a scam, even though I am currently mining my meagre amounts of ETH on 2 - 3 GPUs. My gut also tells me it will eventually be banned by all countries, especially if it starts messing too much with power supplies, market instability, and inflation:

https://www.reuters.com/technology/...y-mining-4-months-amid-power-cuts-2021-05-26/

As much as the stock market is overinflated and very dangerous (see 2008), it doesn't swing wildly the way the crypto market does as it is still based on tangible value (companies producing things), even if that value is inflated. The US just needs to get some balls (i.e. repeal Citizen's United and dissolve the electoral college) and regulate it so it doesn't take the whole country down next time it implodes (and it will).

Mining 'profits' (i.e. ETH accumulated by mining reward) is way down from where it was. It's currently less than 1/3 of where it was a month ago, I'm (badly) guessing due to very low gas fees.

 

[aigomorla]

eventually be banned by all countries, especially if it starts messing too much with power supplies, market instability, and inflation:

nah im waiting for a nuke threat and ransom in Bitcoins something simular to this:

Hackers behind Colonial Pipeline attack reportedly received $90 million in bitcoin before shutting down

DarkSide, the hacker group behind the Colonial ransomware attack, received $90 million in bitcoin ransom payments, according to blockchain sleuths Elliptic.

www.cnbc.com

once terrorism and national security gets involved, you can kiss bitcoins bye bye for sure.

Even the hackers now are trying to hide under a dark stone hoping the US won't catch them.

The DarkSide ransomware gang must be shitting itself right now

So, what do you do if you’re a ransomware gang which has just caught the attention of not just the world’s media, but also the FBI and the President of the United States?

grahamcluley.com

lol... but watch... some idiot or other govern. backed institution will push one step hard and make them realize, when US goes after countries, we follow almost no rules to get stuff done.

 

[Viper GTS]

The Bit Short: Inside Crypto’s Doomsday Machine | by Crypto Anonymous | Medium

This is the most plausible explanation I have seen so far for how this nonsense has managed to go on as long as it has. If this theory is accurate when this ends it is going to absolutely implode.

Viper GTS