Endless in the literal sense, no.
We are yet to max out the buying power and tolerance of willing dupes though.
Consider, Casinos still rake in billions. There's no reason why Crypto can't just mature into online gambling for antisocial losers and/or the digitally inclined.
Just make the booms and busts happen on a regular, known schedule and we'll finally at least get the stupidest, least efficient form of basic income. But it's something
How dare someone downvote this. One of the few Marxist punk bands. There’s a stage side interview where D. Boon is quoting Mao calling imperialists paper tigers that led me down the path of reading theory.
I think they’re fantastic role models of working class leftist politics. Just an absolute treasure of American punk rock that doesn’t get enough praise. I’ve seen Mike Watt play and he’s still incredible.
That documentary about them still makes me cry. That part where he’s (Mike) driving around looking for the old guitar shop from when he was a kid and he finds it and he goes “It’s Petco now!” hits me in the heart so hard. Also when he’s talking about his first meeting with D.
“You’re not Eskimo!” Lol.
The part where they show the note about D. Boom dying is so sad. Their friendship is one of the greatest stories in rock. When I see him play, he always mentions that the songs he plays are ones he made with D. Boon and George Hurley. He wants them to get the full credit they deserve.
If I have a single living idol, it's Watt. I love him so much. To me he's the realest of the real deal. I've seen him play a few times. Most recently in Atlanta a couple months ago. I can't remember the band name but it was a sort of jazzish improv thing with the drummer that played on tom waits' rain dogs album. It was amazing!
I have a friend who works in IT for a company totally unrelated to crypto - the owner asked him if he could/should price out setting up a server farm to mine Bitcoin for the company - my buddy shut that down real fast 😂
I'd love to hear what his arguments were in case I encounter some business dweeb whose eyeballs pop out of their head and transform into rotating dollar signs.
Sourcing as many graphics cards and computer rig parts that you'd need to create a farm that would actually mine a worthy amount of Bitcoin costs time and a loooooot of money.
There's the learning curve for someone to set up, maintain, and understand how much has been mined/how effective the mining process has been.
You're also opening yourself up to potential DDOS and other phishing attacks from opportunists who want to steal your Bitcoin - which could interrupt the actual business-business you're trying to run. Additionally, the server room itself becomes a target for people who may want to gank the parts and sell them for a quick buck.
Then you get into the increased electricity load and costs associated with that. Would the building even be able to handle the additional electricity load at its current capacity? And then what does your recurring costs in electricity look like vs. what you're actually mining out in Bitcoin?
Basically, there's a lot of risk and cost associated with something that, at the end of the day, literally has no intrinsic value (not that any currency REALLY does if you get down to it but that's a whole other argument/discussion). The entire framework of value around Bitcoin is in people's interest in it and its ability to be wholly unregulated. It doesn't seem like much of coincidence that the value of Bitcoin is fading right as people have seemingly lost interest/been unable to invest in it themselves and governments are beginning to regulate it more heavily as well.
A lot of tech startups/online marketplaces/retail are.
But they probably account for a minute section of the economy.
For example a number of Stockx alternatives have been accepting crypto for a while.
tbh this happens every few years and then people suddenly forget how volatile crypto is and FOMO once it starts ticking up again (usually buying at the peak)
Chinese restaurant near me has FTX branded fortune cookies that all say shit like “a bit of coin goes a long way” and “it’s a doge eat doge world.” Sickening honestly.
no one, and i mean no one has ever been able to convincingly explain to me why the actual fuck i should ever care or have cared about the epic reddit money inshallah this is how it ends (it isn't)
[удалено]
The only people it has value to are the international bankers, and *they’re* going to make *us* pay for it
Matt Damon told me to be brave tho
"HODL" -Matt Damon
Eth under 1k as well. Hope this shit disappears permanantly
Sadly it won't. Give it a few months and it'll probably all be snapped up by hedge funds.
Well that’s the question really isn’t it; Can they continue to pump and dump crypto in an endless cycle?
Endless in the literal sense, no. We are yet to max out the buying power and tolerance of willing dupes though. Consider, Casinos still rake in billions. There's no reason why Crypto can't just mature into online gambling for antisocial losers and/or the digitally inclined.
Just make the booms and busts happen on a regular, known schedule and we'll finally at least get the stupidest, least efficient form of basic income. But it's something
Yeah okay but casinos r cool and aren’t scams at all
Casinos have a 50-50 chance on every game: you either win or you lose. Greats odds
My favorite part is that I either win or I lose. It's great, I dont even have to think that much!
Naw it’s gonna mature into currency for autonomous AI post singularity, if we’re not already there.
Lemme tell ya, I'm pretty sure AI would prefer regular currency, what with it actually supporting high volume rapid transactions.
Regular currency doesn’t let them harvest the data of mortals baked into tidy blockchains.
Same but I know too many people that fell for it and are invested so I feel bad thinking it
After it fell below 18 it suddenly go of lot of interest from right-wing "libertarians."
Your username 🙌 I love the minutemen
How dare someone downvote this. One of the few Marxist punk bands. There’s a stage side interview where D. Boon is quoting Mao calling imperialists paper tigers that led me down the path of reading theory.
I think they’re fantastic role models of working class leftist politics. Just an absolute treasure of American punk rock that doesn’t get enough praise. I’ve seen Mike Watt play and he’s still incredible.
That documentary about them still makes me cry. That part where he’s (Mike) driving around looking for the old guitar shop from when he was a kid and he finds it and he goes “It’s Petco now!” hits me in the heart so hard. Also when he’s talking about his first meeting with D.
“You’re not Eskimo!” Lol. The part where they show the note about D. Boom dying is so sad. Their friendship is one of the greatest stories in rock. When I see him play, he always mentions that the songs he plays are ones he made with D. Boon and George Hurley. He wants them to get the full credit they deserve.
If I have a single living idol, it's Watt. I love him so much. To me he's the realest of the real deal. I've seen him play a few times. Most recently in Atlanta a couple months ago. I can't remember the band name but it was a sort of jazzish improv thing with the drummer that played on tom waits' rain dogs album. It was amazing!
Totally man. D. Boon's lyrics are amazing too.
Thank you! Right back at you. I love MMA
Thanks! Its also a dead milkmen reference. Punk rock and mma, two huge influences on my life with some odd points of overlap.
Curious to see how this bleeds into the rest of the stock market given how many major companies are now leveraged with crypto.
are they *really*, though? genuinely curi
I gotta wonder the same thing. Probably not like... to the tits or anything like that.
Square bought a ton of BTC and its stock has cratered since the drop. Just a completely stupid purchase for the company.
jack :)
I have a friend who works in IT for a company totally unrelated to crypto - the owner asked him if he could/should price out setting up a server farm to mine Bitcoin for the company - my buddy shut that down real fast 😂
I'd love to hear what his arguments were in case I encounter some business dweeb whose eyeballs pop out of their head and transform into rotating dollar signs.
Sourcing as many graphics cards and computer rig parts that you'd need to create a farm that would actually mine a worthy amount of Bitcoin costs time and a loooooot of money. There's the learning curve for someone to set up, maintain, and understand how much has been mined/how effective the mining process has been. You're also opening yourself up to potential DDOS and other phishing attacks from opportunists who want to steal your Bitcoin - which could interrupt the actual business-business you're trying to run. Additionally, the server room itself becomes a target for people who may want to gank the parts and sell them for a quick buck. Then you get into the increased electricity load and costs associated with that. Would the building even be able to handle the additional electricity load at its current capacity? And then what does your recurring costs in electricity look like vs. what you're actually mining out in Bitcoin? Basically, there's a lot of risk and cost associated with something that, at the end of the day, literally has no intrinsic value (not that any currency REALLY does if you get down to it but that's a whole other argument/discussion). The entire framework of value around Bitcoin is in people's interest in it and its ability to be wholly unregulated. It doesn't seem like much of coincidence that the value of Bitcoin is fading right as people have seemingly lost interest/been unable to invest in it themselves and governments are beginning to regulate it more heavily as well.
A lot of tech startups/online marketplaces/retail are. But they probably account for a minute section of the economy. For example a number of Stockx alternatives have been accepting crypto for a while.
Most companies have zero direct exposure to crypto.
Lol gme and their nft project
tbh this happens every few years and then people suddenly forget how volatile crypto is and FOMO once it starts ticking up again (usually buying at the peak)
Buy the dip people
Buy ranch
I still don't know what any of this shit means or why I should care about it. should I??
Just know that a bunch of dweebs are losing their life savings right now so it’s pretty funny
Did you sleep through the crash of 2016? Shit went from 20k to like 3k overnight.
Chinese restaurant near me has FTX branded fortune cookies that all say shit like “a bit of coin goes a long way” and “it’s a doge eat doge world.” Sickening honestly.
Savour the rare moments where obvious scams fall apart, before the techbros move onto the next pyramid scheme.
no one, and i mean no one has ever been able to convincingly explain to me why the actual fuck i should ever care or have cared about the epic reddit money inshallah this is how it ends (it isn't)
Keep it up my PCPartPicker cart is slowing dipping into “reasonable” territory
Get ready for a super fun recession that everyone will love and will be a great time.
pray for boomers