Buttcoin

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Thad
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Re: Buttcoin

Postby Thad » Fri Mar 07, 2014 9:46 am

On the one hand, the Newsweek piece seems pretty thoroughly researched (given the excerpts I read on Ars -- again, haven't read the original article because it looks to be paywalled). On the other, it wouldn't be the first time the press got something wrong.

Ars has a new piece detailing Nakamoto's denials, quoting an AP interview telling his side of the story.

For what it's worth, the Bitcoin Nakamoto has posted saying this guy's not him.

What it's worth is, of course, absolutely nothing.

(That said: I suppose it DOES seem a little odd that a guy as paranoid as Nakamoto would post under his real name.)

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Re: Bogus, batshit, banal, bizarre, or bicubic: Assorted New

Postby Mongrel » Tue Apr 15, 2014 12:20 am

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Re: Buttcoin

Postby Mongrel » Sat May 03, 2014 10:13 am

There was a video article today in the Globe about how "Dogecoin is not a joke".

I feel that their conclusion may perhaps be erroneous.
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Brentai
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Re: Buttcoin

Postby Brentai » Sat May 03, 2014 1:17 pm

Dogecoin has already demonstrated more actual buying power than the thing it's a parody of, hasn't it?

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Re: Buttcoin

Postby Mongrel » Sat May 03, 2014 1:27 pm

Not sure! But it would surprise me if it turned out to be true.
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François
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Re: Buttcoin

Postby François » Sat May 03, 2014 2:28 pm

Currency is a prime example of consensus reality to begin with. If seashells could do the job...

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Grath
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Re: Buttcoin

Postby Grath » Sat May 03, 2014 5:19 pm

Brentai wrote:Dogecoin has already demonstrated more actual buying power than the thing it's a parody of, hasn't it?


Dogecoin's made more visible purchases (sending the Jamaican bobsled team to the Olympics, sponsoring a Nascar car) but Bitcoin's bought things like houses. And lots of drugs.

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pacobird
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Re: Buttcoin

Postby pacobird » Fri May 09, 2014 2:11 pm

It's a pretty simple example of the power of a brand. Everybody likes doge! I mean, look at that punnum!
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Mothra
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Re: Buttcoin

Postby Mothra » Fri May 09, 2014 3:27 pm

Just imaging this far-future nightmare scenario where companies run slave labor camps to crank out new and profitable memes.

Conviceted criminals sentenced to 70,000 dynamite memes. No bail.

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Re: Buttcoin

Postby Niku » Fri May 09, 2014 4:21 pm

you mean buzzfeed?
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Re: Buttcoin

Postby Mothra » Fri May 09, 2014 7:08 pm

i have no karma++ and i must love

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Mazian
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Re: Buttcoin

Postby Mazian » Fri May 16, 2014 12:40 pm

Someone uploaded a part of a harmless MS-DOS virus from the 80s into the Bitcoin blockchain - but that signature is still in virus scanners, so Microsoft Security Essentials will automatically delete the blockchain file.

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Mongrel
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Re: Buttcoin

Postby Mongrel » Fri May 16, 2014 3:04 pm

That is really great :lol:
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Thad
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Re: Buttcoin

Postby Thad » Tue Jun 03, 2014 7:48 pm

Researchers introduce Permacoin, a cryptocurrency which works by backing up important data.

It's still, presumably, got all the other problems that every other cryptocurrency has, but if it encourages people to mirror important websites then at least it's not a total loss.

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TA
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Re: Buttcoin

Postby TA » Sat Jun 14, 2014 1:54 pm

IT HAPPENED! GHash.io controls more than 50% of mining power. Bitcoin is now broken.

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のほも is such a good word?? the concept is kind of hard to fully get across in translation, but basically it means a feeling of pure, deep, platonic affection, and i think thats beautiful

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Brentai
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Re: Buttcoin

Postby Brentai » Sat Jun 14, 2014 2:07 pm


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Re: Buttcoin

Postby Mothra » Mon Jun 16, 2014 2:08 pm

Been reading the metafilter comment thread about this.

In particular:

Mm, this is delicious. This crisis has been happening in slow motion for awhile and it finally tipped over the 50% number. It's unlikely that CEX's plan is to take this power they have and destroy Bitcoin, but it's not impossible. You have to trust them.

From what I've read. CEX.io operates GHash.io, a mining pool that owns the mining hardware. A GHash.io customer pays to buy Bitcoin mining power, 0.007 BTC/gigahash, apparently. You then get the Bitcoins that chunk of hardware is mining. Enough people found that investment interesting that GHash now has a lot of computers. Centralized power, in what is supposed to be a decentralized network.

Bitcoin's is off about 10% against the dollar on the news, which is more a reflex reaction than an "OMG the sky is falling". The Bitcoin subreddit is full of hilarious threads of people complaining that it's all the fault of the monsters who are GHash customers. It's like the libertarian nerds have never heard of the tragedy of the commons.

The more I read the more I think the Litecoin/Dogecoin folks have the right idea in using different proof of work functions that are harder to optimize with dedicated hardware.

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Re: Buttcoin

Postby Mongrel » Mon Jun 16, 2014 3:06 pm

Oh man, if Bitcoin itself tanks, but Dogecoin lives on, there's no way that won't be good for some comedy gold (coins).
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TA
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Re: Buttcoin

Postby TA » Mon Jun 16, 2014 3:11 pm

Well, it's not that Scrypt coins are actually any harder to optimize. They just use different functions, which means different hardware to optimize them.
のほも is such a good word?? the concept is kind of hard to fully get across in translation, but basically it means a feeling of pure, deep, platonic affection, and i think thats beautiful

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Re: Buttcoin

Postby TA » Tue Dec 16, 2014 3:03 am

The feel good image of the year:
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のほも is such a good word?? the concept is kind of hard to fully get across in translation, but basically it means a feeling of pure, deep, platonic affection, and i think thats beautiful

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