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(Some Bitcoin miner)   "I made 1000 times more money by writing about mining Bitcoins as I did by mining Bitcoins"   (joeydevilla.com) divider line 49
    More: Ironic, Mining Bitcoins, BTC  
•       •       •

4101 clicks; posted to Geek » on 18 Apr 2013 at 4:38 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



49 Comments   (+0 »)
   
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2013-04-18 03:35:21 PM  
Is that a new block ID in Minecraft?
 
2013-04-18 03:38:44 PM  
i 3D printed myself a bitcoin but it didn't work right.

my "mining" rig is the 3d printer
anyone have a problem with this
 
2013-04-18 04:43:51 PM  
I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.
 
2013-04-18 04:45:52 PM  
Are "bit coins" slang for con man money?
 
2013-04-18 04:48:32 PM  
I gave up after wasting much power and many CPU cycles and many days running a Bitcoin miner.
 
2013-04-18 04:53:05 PM  

Jon iz teh kewl: i 3D printed myself a bitcoin but it didn't work right.

my "mining" rig is the 3d printer
anyone have a problem with this


Cut out the digital middleman and just 3D print gold bars.
 
2013-04-18 04:53:53 PM  

Summoner101: Are "bit coins" slang for con man money?


You're actually pretty close.

Also, once in a while, you can find someone that might sell you drugs for them.
 
2013-04-18 04:54:57 PM  
I wonder how much I could make if I wrote about writing about mining bitcoins. If it is 1,000 times more profitable than writing about mining bitcoins, that would be over $34,000!
 
2013-04-18 04:55:50 PM  

imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.


I thought about spending an hour researching this shiat. Then I thought to myself that I could make close to fifty real dollars (of worthless fiat currency that people actually seem to be willing to accept in exchange for goods and services) that I could spend on shiat if I spent that same hour doing real work so I didn't do it.
 
2013-04-18 04:59:15 PM  

cowboybebop: I wonder how much I could make if I wrote about writing about mining bitcoins. If it is 1,000 times more profitable than writing about mining bitcoins, that would be over $34,000!


Damn! I might have to write about that!
 
2013-04-18 05:01:59 PM  
So, if I convert all my real, usable money to Bitcoins, will Epiphyte(2) be storing my moneys?
 
2013-04-18 05:08:48 PM  

imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.


You might not be smart enough to use regular money either.
 
2013-04-18 05:14:53 PM  

JohnBigBootay: imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.

I thought about spending an hour researching this shiat. Then I thought to myself that I could make close to fifty real dollars (of worthless fiat currency that people actually seem to be willing to accept in exchange for goods and services) that I could spend on shiat if I spent that same hour doing real work so I didn't do it.


Most people aren't paid by the hour; perhaps you are. But I can imagine anyone who works at a tech company with a sufficiently large server cluster has at one point or another thought about using it to mine bitcoins.
 
2013-04-18 05:31:13 PM  

imgod2u: Most people aren't paid by the hour; perhaps you are. But I can imagine anyone who works at a tech company with a sufficiently large server cluster has at one point or another thought about using it to mine bitcoins.


I suppose. They just don't seem all that liquid or useful to me. Maybe in the future I will regret my decision. I did read about some guy who bought a pair of socks - not sure if it was this article or another one. I could always use more socks.
 
2013-04-18 05:44:48 PM  
i have a few friends constantly spamming me with bitcoin information lately. i suppose the idea is neat but... i've been trading virtual currency in MMOs off and on since i was a kid. the idea of printing money from essentially nothing isn't really new. sure bitcoin is totally different, but its honestly even more volatile and dangerous. i can AFK farm in warcraft or everquest too and at this point the market for those units is a lot safer and less 'wild west' than the silkroad-style places that accept bitcoins. plus the gambling schemes, terrible security, incredibly slow gain rates, being at the mercy of the coin itself and copycat currencies.... etc.

/i think i'd rather farm game gold.
// or real money at work
/// or both!
 
2013-04-18 05:48:41 PM  

JohnBigBootay: imgod2u: Most people aren't paid by the hour; perhaps you are. But I can imagine anyone who works at a tech company with a sufficiently large server cluster has at one point or another thought about using it to mine bitcoins.

I suppose. They just don't seem all that liquid or useful to me. Maybe in the future I will regret my decision. I did read about some guy who bought a pair of socks - not sure if it was this article or another one. I could always use more socks.


Well, again, if you're doing it during your fapping time, it's basically free potential money. There is a bitcoin store, albeit fairly limited but you could always just sell it to the Winklevii brothers as they're gobbling them up.
 
2013-04-18 06:04:33 PM  

js34603: imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.

You might not be smart enough to use regular money either.


So how much have you wasted- err, I mean "invested" in Bitcoins?
 
2013-04-18 06:22:09 PM  
and thanks to a link from fark.com he made just a little more
 
2013-04-18 06:48:52 PM  
Some years ago some guy said something about there being a world market for 5 computers. It may have been true at the time, but that's hardly the end of the story.

That's Bitcoin now. Its new. Its not understood by most, misunderstood by many (some of whom have already made ignorant claims in this and other threads). I'm not saying Bitcoin is as important as computers are in general. And I'm not saying they won't go the way of betamax. They might. But it would be a loss if they did, and it would likely be due in large part to all the misunderstanding and the false claims driving that misunderstanding.

The bubble is over (mostly). Some people made money from it, some lost money. Now the long term slow and steady clime can start. Notice I said "can", not "for sure will".
Bitcoin is a long term concept. Take interest in it or ignore it. But when discussing it, have some vision.
 
2013-04-18 06:57:06 PM  

Coder: Some years ago some guy said something about there being a world market for 5 computers. It may have been true at the time, but that's hardly the end of the story.

That's Bitcoin now. Its new. Its not understood by most, misunderstood by many (some of whom have already made ignorant claims in this and other threads). I'm not saying Bitcoin is as important as computers are in general. And I'm not saying they won't go the way of betamax. They might. But it would be a loss if they did, and it would likely be due in large part to all the misunderstanding and the false claims driving that misunderstanding.

The bubble is over (mostly). Some people made money from it, some lost money. Now the long term slow and steady clime can start. Notice I said "can", not "for sure will".
Bitcoin is a long term concept. Take interest in it or ignore it. But when discussing it, have some vision.


idk, a currency without some nation backing it seems inherently unstable to me. There's a reason we migrated from notes guaranteed by the Bank of Boston to the U.S. dollar; people didn't just like centralized currency, they liked centralized currency that had a stable backing.
 
2013-04-18 07:05:40 PM  

imgod2u: Coder: Some years ago some guy said something about there being a world market for 5 computers. It may have been true at the time, but that's hardly the end of the story.

That's Bitcoin now. Its new. Its not understood by most, misunderstood by many (some of whom have already made ignorant claims in this and other threads). I'm not saying Bitcoin is as important as computers are in general. And I'm not saying they won't go the way of betamax. They might. But it would be a loss if they did, and it would likely be due in large part to all the misunderstanding and the false claims driving that misunderstanding.

The bubble is over (mostly). Some people made money from it, some lost money. Now the long term slow and steady clime can start. Notice I said "can", not "for sure will".
Bitcoin is a long term concept. Take interest in it or ignore it. But when discussing it, have some vision.

idk, a currency without some nation backing it seems inherently unstable to me. There's a reason we migrated from notes guaranteed by the Bank of Boston to the U.S. dollar; people didn't just like centralized currency, they liked centralized currency that had a stable backing.


I don't know either, it's a new concept. But its an interesting one and I'd like to see it continue to grow and maybe one day be a day to day thing
 
2013-04-18 07:23:47 PM  
For some reason, I think if a competitor to Bitcoin comes along now, everyone will suspect it of being pre-mined by the creator. So Bitcoin might be the last trusted digital currency for a while.
 
2013-04-18 07:29:30 PM  
It will grow if they can grow a (legitimate) market for it.

A currency is only as valuable as the markets that accept it.
 
2013-04-18 07:34:34 PM  
In the end, people will realize there's no value here, and the only folks ending up ahead will be those who cashed out early and those who processed the transactions.

/plus it's not a "currency"
 
2013-04-18 07:41:56 PM  

hardinparamedic: js34603: imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.

You might not be smart enough to use regular money either.

So how much have you wasted- err, I mean "invested" in Bitcoins?


Yeah Fark seems to have a real hate-on for BitCoins for some reason. Nice job falling in line.

I don't give two shiats about the "investment" value of BitCoins. I don't put my 401k in BitCoins, whether they're worth a dollar a piece or a thousand dollars a piece doesn't matter to me in the slightest.

However, if, hypothetically someone wanted to sell me something I was interested in purchasing, and that person was only willing to accept BitCoins as payment, it wouldn't take anywhere near an hour researching it to figure out how the system works.

But you think of BitCoins as an investment vehicle instead of a simple digital currency so you're probably too stupid to use them, too.
 
2013-04-18 08:14:25 PM  

Coder: Some years ago some guy said something about there being a world market for 5 computers. It may have been true at the time, but that's hardly the end of the story.

That's Bitcoin now. Its new. Its not understood by most, misunderstood by many (some of whom have already made ignorant claims in this and other threads). I'm not saying Bitcoin is as important as computers are in general. And I'm not saying they won't go the way of betamax. They might. But it would be a loss if they did, and it would likely be due in large part to all the misunderstanding and the false claims driving that misunderstanding.


I'm still waiting for you to give us some real world examples where the bitcoin is better for legal purposes compared to US Dollars.
 
2013-04-18 08:17:39 PM  

JohnBigBootay: imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.

I thought about spending an hour researching this shiat. Then I thought to myself that I could make close to fifty real dollars (of worthless fiat currency that people actually seem to be willing to accept in exchange for goods and services) that I could spend on shiat if I spent that same hour doing real work so I didn't do it.


Well, that's the thing.. there is one thing that only take bitcoins... annoying as hell.
 
2013-04-18 08:19:03 PM  

js34603: imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.

You might not be smart enough to use regular money either.


Oh my, your incredible intellect has blinded me and probably everyone else in this thread....

Now, if only you would have provided anything worth something....
 
2013-04-18 08:30:28 PM  
My dick takes bitcoin.
 
2013-04-18 09:06:09 PM  

schrodinger: Coder: Some years ago some guy said something about there being a world market for 5 computers. It may have been true at the time, but that's hardly the end of the story.

That's Bitcoin now. Its new. Its not understood by most, misunderstood by many (some of whom have already made ignorant claims in this and other threads). I'm not saying Bitcoin is as important as computers are in general. And I'm not saying they won't go the way of betamax. They might. But it would be a loss if they did, and it would likely be due in large part to all the misunderstanding and the false claims driving that misunderstanding.

I'm still waiting for you to give us some real world examples where the bitcoin is better for legal purposes compared to US Dollars.


And I'm still waiting for you to remove your fingers from your ears. Guess we're both going to be disappointed.
 
2013-04-18 09:07:33 PM  

dangelder: For some reason, I think if a competitor to Bitcoin comes along now, everyone will suspect it of being pre-mined by the creator. So Bitcoin might be the last trusted digital currency for a while.


That's already happened. Novacoin is commonly called a scamcoin because it was premined before release. Litecoin however is a fork of Bitcoin that seems to have fixed a few of the small problems with Bitcoin (like ASIC mining and long confirmation times)
 
2013-04-18 09:27:16 PM  

Coder: schrodinger: I'm still waiting for you to give us some real world examples where the bitcoin is better for legal purposes compared to US Dollars.

And I'm still waiting for you to remove your fingers from your ears. Guess we're both going to be disappointed.


Another deflection.

I keep pointing out that you have never answered a basic question, and you keep trying to prove me wrong by proving me right.
 
2013-04-18 09:42:50 PM  

schrodinger: Coder: schrodinger: I'm still waiting for you to give us some real world examples where the bitcoin is better for legal purposes compared to US Dollars.

And I'm still waiting for you to remove your fingers from your ears. Guess we're both going to be disappointed.

Another deflection.

I keep pointing out that you have never answered a basic question, and you keep trying to prove me wrong by proving me right.


Okay, listen close cause this is the last time I'm responding to your trolling, and mainly for the benefit of others in this thread.

1) I've already given examples of places to spend bitcoins in other threads, as have many others, often in direct response to you. If you want more examples, there's this nifty thing called Google that helps you search for things.
2) (And this is really the more important part) Bitcoin is new. Most of the people talking about it now hadn't heard of it until recently. Most people still haven't heard of it at all. If you're expecting every corner store to except it as payment today, well, that's your problem. That doesn't mean bitcoin is a failure. It just means that bitcoin is (again, say it with me now) NEW. Have some vision, think long term, and give it time. And by 'give it time' I mean without FUDing it out of existence before it really has a chance to gain wider adoption.
 
2013-04-18 09:53:17 PM  

Coder: Okay, listen close cause this is the last time I'm responding to your trolling, and mainly for the benefit of others in this thread.

1) I've already given examples of places to spend bitcoins in other threads, as have many others, often in direct response to you. If you want more examples, there's this nifty thing called Google that helps you search for things.
2) (And this is really the more important part) Bitcoin is new. Most of the people talking about it now hadn't heard of it until recently. Most people still haven't heard of it at all. If you're expecting every corner store to except it as payment today, well, that's your problem. That doesn't mean bitcoin is a failure. It just means that bitcoin is (again, say it with me now) NEW. Have some vision, think long term, and give it time. And by 'give it time' I mean without FUDing it out of existence before it really has a chance to gain wider adoption.


1)  That's a lie.  You didn't provided any links.  And you only gave examples of businesses that accept bitcoins, but no examples where bitcoins are actually more useful than US dollars.

For instance, one of the examples you gave was Pizza.  Which required you go through a third party, wait several hours for your pizza for everything to process, and included an additional surcharge of 0.06 bitcoins (which could be worth as high as $15.).  As opposed to simply calling up the pizza place directly and paying with cash or credit card, and having everything delivered to your house with no surcharge in under 30 minutes.

2)  Appeal to novelty fallacy.  Lots of scam operations are also "new."  Some of them are fly-by-night.  Should I give a free pass because it's "new"?
 
2013-04-18 09:55:22 PM  
Bitcoins are great because you can buy as much as you want and there's no guarantee that you'll be able to sell them back except in small quantities, maybe!
 
2013-04-18 09:57:29 PM  
The problem with "give it long term vision" is that there is no actual value there.  There isn't anything that is actually useful being done, the work is a "proof I had my computer do this", but it has no inherent value.

That being the case, if I have a product or service to sell, I can't see why I'd rather have your bitcoins than actual money I can take to the grocery store or use to pay rent.

Sure, if I controlled a server farm, I'd be tempted to put all those spare CPU cycles to work.  But honestly, I'd be more likely to put them to work on some kind of distributed computing project which did something that is at least potentially useful.
 
2013-04-18 10:04:56 PM  

JuggleGeek: Sure, if I controlled a server farm, I'd be tempted to put all those spare CPU cycles to work. But honestly, I'd be more likely to put them to work on some kind of distributed computing project which did something that is at least potentially useful.


Even in that case, you'd be spending more on electricity than you would ever make back.  90% of bitcoin miners never consider this cost because they still live with their parents.  Not to mention that you'll kill the life of your GPU.
 
2013-04-18 10:38:15 PM  

schrodinger: JuggleGeek: Sure, if I controlled a server farm, I'd be tempted to put all those spare CPU cycles to work. But honestly, I'd be more likely to put them to work on some kind of distributed computing project which did something that is at least potentially useful.

Even in that case, you'd be spending more on electricity than you would ever make back.  90% of bitcoin miners never consider this cost because they still live with their parents.  Not to mention that you'll kill the life of your GPU.


Did Bitcoin sleep with your wife?
 
2013-04-18 11:01:04 PM  

BigLuca: Did Bitcoin sleep with your wife?


Did Bitcoin provide you with child pornography?
 
2013-04-18 11:29:17 PM  

schrodinger: BigLuca: Did Bitcoin sleep with your wife?

Did Bitcoin provide you with child pornography?


1.bp.blogspot.com
You're going blow your O ring man.  Take a few breaths.
 
2013-04-18 11:51:55 PM  

BigLuca: schrodinger: BigLuca: Did Bitcoin sleep with your wife?

Did Bitcoin provide you with child pornography?

[1.bp.blogspot.com image 455x341]
You're going blow your O ring man.  Take a few breaths.


no no no... like this:

i478.photobucket.com
 
2013-04-19 12:16:05 AM  

imfallen_angel: BigLuca: schrodinger: BigLuca: Did Bitcoin sleep with your wife?

Did Bitcoin provide you with child pornography?

[1.bp.blogspot.com image 455x341]
You're going blow your O ring man.  Take a few breaths.

no no no... like this:

[i478.photobucket.com image 624x317]


I love that meme.  I've never even seen that movie ... I had to look it up on youtube awhile back, and now I always lol at it.
 
2013-04-19 12:33:09 AM  

imgod2u: centralized currency that had a stable backing.


"Had" being the operative word, my friend.
 
2013-04-19 12:35:00 AM  

schrodinger: Coder: Some years ago some guy said something about there being a world market for 5 computers. It may have been true at the time, but that's hardly the end of the story.

That's Bitcoin now. Its new. Its not understood by most, misunderstood by many (some of whom have already made ignorant claims in this and other threads). I'm not saying Bitcoin is as important as computers are in general. And I'm not saying they won't go the way of betamax. They might. But it would be a loss if they did, and it would likely be due in large part to all the misunderstanding and the false claims driving that misunderstanding.

I'm still waiting for you to give us some real world examples where the bitcoin is better for legal purposes compared to US Dollars.


Some bitcoin mining rig operations only accept bitcoins as payment for their bitcoin mining rigs....

/something something ouroborous something something
 
2013-04-19 02:03:11 AM  

untaken_name: imgod2u: centralized currency that had a stable backing.

"Had" being the operative word, my friend.


It still has. That's why you have a federal reserve making sure you have a 2% yearly inflation rather than bitcoin's fluctuating value, and, let's face it, deflationary future .Besides, bitcoin's bubble isn't over yet, you still have more speculators than users and that, for any currency is bad news. When the speculators completely lose interest that's when the bubble is over, and the price will reflect that
 
2013-04-19 03:43:59 AM  

nigeman: 2% yearly inflation


If you believe that, I've got some nice beachfront property in New Mexico you might be interested in. Why do you think they stopped publishing M1?
 
2013-04-19 04:50:07 AM  

imgod2u: idk, a currency without some nation backing it seems inherently unstable to me. There's a reason we migrated from notes guaranteed by the Bank of Boston to the U.S. dollar; people didn't just like centralized currency, they liked centralized currency that had a stable backing.


The larger a pool of currency is, the less easy it is for people to manipulate its value, and the more efficient and cost effective security measures to protect from counterfeiting are. Obviously the more places that will accept the currency the better.

Bitcoin has a problem in that the amount of bitcoins that can exist is fixed, and in a rather small total market (~1-2b) compared to most currencies/commodities, this means the more people interested in using bitcoins, the higher the price will go for each individual bitcoin. Hence if it is successful then it will fail, rather bizarrely - because when the price of bitcoins is going up rapidly it makes sense for everyone that has them to hoard them rather than spend them, which means the price increases more as most of the bitcoins exit circulation as people speculate on price rises continuing. Of course bubbles like this eventually collapse, so then you have an unstable currency with lots of boom/busts going on in its value, and businesses that accept bitcoins will have to continually deal with periods when no one is buying using the currency because it is booming, and conversely when people are buying from them using the currency the price is usually going to be dropping rapidly.
 
2013-04-19 08:17:15 AM  

imfallen_angel: js34603: imfallen_angel: I still have no clue how they work or how to get any without somehow putting all my banking information in jeopardy...

And that's after spending over an hour reading about them and looking stuff up.

You might not be smart enough to use regular money either.

Oh my, your incredible intellect has blinded me and probably everyone else in this thread....

Now, if only you would have provided anything worth something....


That is how I read it, too.  Amazing how fast $38,000/yr can go to someone's head when it is their first salaried position.  He probably leases an Acura as well lol and brags about working for a Fortune 500 company-- POS terminal updates at Target ;)
And yes.  Bitcoins are a ripoff like any other currency with an implied value.  I am almost surprised that facebook hasn't minted their own crappy emoney but I guess they have to let the dust settle from the IPO fail/SEC debacle lol.  I could definitely see Apple pulling that shiat as well with some "spend money. smarter." ad in which they note they are taking a 20% cut for processing and yet everyone trading in their houses and boats to cash in for apple money so they didn't look like a jerk spending paper money.  Then all retailers would have to buy new proprietary apple only POS systems and our good friend above would be doing an early return of his leased acura as apple would require target and walmart to hire POS "geniuses" at 4x the market rate whose only standing order of tech support is to "exchange the hardware" or some such.

/my HR bullshiat meter rings loudly with this one as with btc ;)
 
2013-04-20 01:58:26 AM  

untaken_name: imgod2u: centralized currency that had a stable backing.

"Had" being the operative word, my friend.


The dollar is still by far and large the preferred currency in the world. It may not have the same weight to it as 40 years ago but it's still trusted far more than the Yen, RMB, pound, or Euro (thanks, Greece).

There are people in the streets of Cairo buying dollars like a drug.
 
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