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How many furries know what Bitcoin is?

Do you know what Bitcoin is?

  • Yes.

  • I have heard of it but don't really know much.

  • Isn't it like, a dark web thing?

  • Never heard of it.


Results are only viewable after voting.

Simo

Professional Watermelon Farmer
Many years from now, I can see myself flipping through the channels late one night, and stumbling across Rassah doing a two-hour bit-coin infomercial without being as bit surprised. In fact...it feels like that now.
 

Rassah

Well-Known Member
I've met this guy about 4 or 5 years ago and he was praising Bitcoin even back then.

Didn't like 90% of the money to your Bitcoin charity come from a guy who defrauded it from a bunch of people?
It was a large chunk of money (not 90%) that was donated anonymously. There was no way for us to know whom it came from or where the source was. I only guessed that it may have been stolen from Bitcoin exchanges because it was donated shortly after an exchange got hacked. But since there's no way to prove it, with Bitcoin being anonymous if you want it to be, we just accepted the money. And then donated it all to charities. My "charity" only collected money from donors, then helped other charities set up to be able to accept Bitcoin, and then made a first $1000 USD-worth bitcoin donation to them using money that was donated. No one earned anything from running our charity though.

Many years from now, I can see myself flipping through the channels late one night, and stumbling across Rassah doing a two-hour bit-coin infomercial without being as bit surprised. In fact...it feels like that now.
Heh, no need to run any infomercials for it. Current fiat money is already bad enough for hundreds of millions of people to realize it and move their money into bitcoin all on their own. And it'll just get worse in the future. Bitcoin sells itself :D
 

Rassah

Well-Known Member
Bitcoin/crypto is most of the reason a new graphics card costs over twice what it usually would.
Crypto, not Bitcoin. Mostly what are typically called "shitcoins." Bitcoin doesn't use graphics card at all. And those are just one of the reasons. Governments around the world forcing business to shut down and completely wrecking supply chains is the other. I read that when US states forced their businesses to shut down, we shut down a lot of the things we would typically export. Other countries like China and various Asian countries didn't do that. So they continued to produce and export, shipping goods to US and Europe. But that resulted in shipping containers going to US, and then just sitting empty, with nothing to put in them to ship back. It got so bad that there are even so many empty containers taking up space in ports that ships with cargo off the coast of US don't even have the space to dock and unload. Now countries that produce stuff, including components for GPUs, have no shipping containers to ship their stuff out in. Containers that are still available cost a fortune, which is causing the price of everything to go up, and containers that are empty which are stuck in US are still not worth shipping back if they're empty. And that's even causing issues between Asian countries that produce individual electronic components and assemble them there, since they can't even ship stuff to each other. Our supply chains became so efficient that any major disruption ended up creating a huge mess.
 

O.D.D.

Back from the dead apparently
I distinctly remember prices spiking on GPUs before the pandemic, but the effect was much more widespread after.
 

rekcerW

Well-Known Member
To me, arguing with some people on here who are making ignorant comments about Bitcoin is like arguing with flat earthers. You can only be patient with someone so clueless for so long. And I'm only a douche when someone else is a douche. Look at this guy above calling me an idiot because he didn't think my explanation was right.
As for how can I get through life? Knowing how far I've come, what I've seen, learned, and experienced, and knowing all the things I've accomplished isn't exactly a burden I guess. How do people get through life being self-depreciating? (Opposite of aggrandizing)
maybe in person, but like every other post i've ever read from you has been douchey in some aspect. it's just always douchey. even that was douchey.
 

Rassah

Well-Known Member
maybe in person, but like every other post i've ever read from you has been douchey in some aspect. it's just always douchey. even that was douchey.
Like I said, note the audience ;)
 

O.D.D.

Back from the dead apparently
I know most of us present are no stranger to erect members being waved about but I'm pretty sure there's a thread for that without Bitcoin in the subject line.

To me crypto in general looks like gambling with Monopoly money that has been decreed to actually carry the denoted value and money that goes poof if someone decides to look crosseyed at the world's electronics seems like one that's a bit rich for my blood.
 

TyraWadman

The Brutally Honest Man-Child
maybe in person, but like every other post i've ever read from you has been douchey in some aspect. it's just always douchey. even that was douchey.

Straight up sounds like the cliche of someone making it big and riding the wave like it's never gonna crash. Possibly even 'forgetting their roots'. He (and many others on FAF) seem to like lumping everyone in as some kind of past antagonist despite interacting with them maybe once (and even then it wasn't a negative experience).

If you can't explain it to a kid, chances are they're using some evasive tactics to get something out of it. Apparently no amount of cash or Bitcoin can hire someone to educate us 'common-folk' on why it's so important and just expects everyone to get on board or 'miss out'.

The problem still stands; a system like that wouldn't benefit a place like Canada. It would really suck to be told 'hey we can't offer you financial support anymore because we haven't been able to harvest enough coins'. I also dislike their security methods. When you lose a debit card or forget a pin, you can replace it. Bitcoin, you're locked out for life.
 

Rassah

Well-Known Member
you didn't -- how old is that fucking signature?
I use Android. I don't see signatures. I forgot I had that one, but... still relevant today

To me crypto in general looks like gambling with Monopoly money that has been decreed to actually carry the denoted value and money that goes poof if someone decides to look crosseyed at the world's electronics seems like one that's a bit rich for my blood.
To me gambling implies guessing and hoping. And while there's hoping for electricity for all currencies, since 95% of all dollars are digital and 99.9% of all transactions and sales are done with electronic bank transfers (including plastic cards), to me it's even MORE gambling keeping your money in currencies where you don't know whether the Fed will raise or lower interest rates, or print literally trillions more in stimulus funds, or do something else even crazier. Looking at the whole world of banking, with people holding cash as they nervously spectate banks and politicians and try to predict their movements, or try to guess which global currency will pull ahead of others simply because their governments are destroying it as a slightly slower rate, as if the whole thing is some sort of perverse horrible horse race, is gambling. And knowing that the currency I hold can't be controlled by anyone, isn't subject to any bank or political decisions, can't be inflated on someone's whim, and that it will continue to create a fixed predetermined amount of currency no matter what happens, is the least gambling option of all.

Straight up sounds like the cliche of someone making it big and riding the wave like it's never gonna crash.

Yep. Like the internet. Or telephone. Or electricity. Or the wheel. Or fire. Sometimes new ideas just get invented and then can't be uninvented no matter how much people complain about them.


If you can't explain it to a kid, chances are they're using some evasive tactics to get something out of it. Apparently no amount of cash or Bitcoin can hire someone to educate us 'common-folk' on why it's so important and just expects everyone to get on board or 'miss out'.
If you want to learn, I'm happy to give you lots of free resources.



The problem still stands; a system like that wouldn't benefit a place like Canada.
Canada has the same problems though. Look around every big city you have (all... three of them?). Who owns all the biggest building? Banks. Canada uses fiat currency, so it still has the same Cantillon effect problems, where certain people (you) work hard for money, certain other people (banks and politicians) simply print themselves billions without doing any work whatsoever, and then those people just buy the land, buildings, commodities, stocks, and other assets that you have to work hard to obtain, for no effort on their part, making themselves richer while forcing you to pay for it by inflating away the value of your money. Rich get richer, poor get poorer. The #1 cause of that has always been inflation.


When you lose a debit card or forget a pin, you can replace it. Bitcoin, you're locked out for life.
Keep good backups. Or if that's too much of a hassle, just keep them in an insured bank like you do with your cash. If you lose your access, the bank will replace it same way.
 

Rassah

Well-Known Member
I heard a great analogy about Bitcoin from Michael Saylor recently. To paraphrase, Bitcoin is basically a life raft, in our global financial system which is a large luxury ship that is slowly sinking (which makes sense because Bitcoin is not reliant on anything or anyone, being completely independent, while global finance is collapsing under debt and inflation). And people who are against it are people who are staying in their luxury suites, who are being told the ship is sinking and to get to the lifeboats. They don't want to leave because they like their luxury suites and comfort and don't want to give them up. And they attack anyone who tells them their ship is sinking and warning them to get to the life boats, because they're afraid of losing their comforts and luxury, and/or don't want to lose their privilege and get stuck in those lifeboats where they're equal to everyone else.
 
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Firuthi Dragovic

Gamer Dragon, former speedrunner
Heard a little about it, will not even consider it for the next six months. In fact, basically ANY investment is too risky for me in that time.

I'm on the verge of paying off a longstanding big debt ("oh you're just giving them free money from interest" is irrelevant to this when the debt itself feels like a crushing burden. This is about my psychological well-being, and no amount of financial min-maxing addresses the nature of this debt) and trying to do investments with this now has a good chance of actually setting me back. (I've previously told people "three months" - I expand it to six here because I have to worry about paying my own taxes.)

Six months isn't really suitable for a "safe" investment either.

Maybe by that time some of the worse "shitcoins" will have filtered out of the market and I can have a better idea what good ones are like. I must admit I mainly consider this a side-bet at this time.

And maybe people will stop trying to use gaming hardware to mine cryptocurrency (I know you JUST said something about this Rassah, but I reopen this wound specifically because apparently, Ukranian authorities recently caught a group using PS4 Pros to mine crypto. And something about electrical meters).
 
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rekcerW

Well-Known Member
I heard a great analogy about Bitcoin from Michael Saylor recently. To paraphrase, Bitcoin is basically a life raft, in our global financial system which is a large luxury ship that is slowly sinking (which makes sense because Bitcoin is not reliant on anything or anyone, being completely independent, while global finance is collapsing under debt and inflation). And people who are against it are people who are staying in their luxury suites, who are being told the ship is sinking and to get to the lifeboats. They don't want to leave because they like their luxury suites and comfort and don't want to give them up. And they attack anyone who tells them their ship is sinking and warning them to get to the life boats, because they're afraid of losing their comforts and luxury, and/or don't want to lose their privilege and get stuck in those lifeboats where they're equal to everyone else.
uh-huh. two words. binance. tether.
 

Rassah

Well-Known Member
I'm on the verge of paying off a longstanding big debt ("oh you're just giving them free money from interest" is irrelevant to this when the debt itself feels like a crushing burden. This is about my psychological well-being, and no amount of financial min-maxing addresses the nature of this debt) and trying to do investments with this now has a good chance of actually setting me back. (I've previously told people "three months" - I expand it to six here because I have to worry about paying my own taxes.)

I know exactly how you feel. I recently had to make a similar decision, which was logically and financially not right, but for my own stress was necessary. And it was a HUGE stress relief once it was over, even if did have big financial opportunity costs. Good luck!

uh-huh. two words. binance. tether.
I got a few more: MtGox, Bitcoin Cash. Exchanges and shitcoins come and go, Bitcoin the honey badger doesn't give a f
 

Curt Goynes

Member
I heard a great analogy about Bitcoin from Michael Saylor recently. To paraphrase, Bitcoin is basically a life raft, in our global financial system which is a large luxury ship that is slowly sinking (which makes sense because Bitcoin is not reliant on anything or anyone, being completely independent, while global finance is collapsing under debt and inflation). And people who are against it are people who are staying in their luxury suites, who are being told the ship is sinking and to get to the lifeboats. They don't want to leave because they like their luxury suites and comfort and don't want to give them up. And they attack anyone who tells them their ship is sinking and warning them to get to the life boats, because they're afraid of losing their comforts and luxury, and/or don't want to lose their privilege and get stuck in those lifeboats where they're equal to everyone else.
Great analogy, true. But I doubt that BTC is that independent that when stock market starts "sinking" crypto will be afloat. It makes sense taking into account how volatile crypto is and always was :confused:
 

Fallowfox

Are we moomin, or are we dancer?
I thought I'd comment that researchers at Cambridge have reported a mass-migration of bitcoin 'mining' to Kazakhstan and the US before China began its most recent crackdown on the currency.

This explains why hash rates did not decline as rapidly as might have been expected after China's crackdown.

87% of Kazakh energy is generated by fossil fuels, so mining there is probably not the best thing for the environment. Guess it's similar to North-West China; the regions are geographically adjacent actually.
 

Rassah

Well-Known Member

Khafra

Heave away, haul away
I've been thinking of putting some savings into it, since currency where I live seems to constantly lose value. But bitcoin itself looked kinda unstable for the past month, so was hard to get around to doing it.

I'd also ideally want to keep it in my own wallet or cold storage, which is just more hassle for my lazy arse.
 

O.D.D.

Back from the dead apparently
The whole thing makes me leery because it's a fiat currency effectively, even if it's a decentralized one. That and it's got that "too good to be true" feel to it at times.
 

Rassah

Well-Known Member
Whelp, El Salvador just adopted Bitcoin as one of their two main currencies (US dollar is the other one they use). I was there for the Sept 7th event with a delegation to help roll it out. So far, McDonald's, Walmart, Starbucks, and a few other major corps accept it there. And since they were forced to implement Bitcoin payments there, they can roll them out to the rest of the world too. Even tiny shops on the side of the road took it. It was pretty cool!
 

Yakamaru

Spookdogg
Nice, seems Bitcoin is up again. Expected it to be up again around this time anyway.
 

Fallowfox

Are we moomin, or are we dancer?
There are protests on the news about BitCoin being introduced as a legal currency in El Salvador.
Most people in the country use physical cash, and the value of the coin wobbled by 20% on the first day, so it's rocky.

Evidently El Salvador isn't a real democracy; it's president is currently circumventing term limits and the adoption of BitCoin is perceived pre-eminently as a publicity stunt; its adoption passed through their parliament in only hours- so it wasn't really debated.
 
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