Skip to content
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(CNBC)   "Crypto hedge fund" and "default" sure do seem to be the new synergy   (cnbc.com) divider line
    More: Dumbass, Investment, Short, Hedge fund, Debt, Asset, Arrows Capital, digital asset market, Mutual fund  
•       •       •

571 clicks; posted to Business » on 27 Jun 2022 at 6:50 AM (6 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



38 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-06-27 7:43:49 AM  
They will crash. Short to $0
 
2022-06-27 7:52:42 AM  
There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.
 
2022-06-27 7:57:50 AM  
Was reading Bloomberg? The Economist? that if Bitcoin drops to $15,000 it becomes very unlikely there will be enough capital funding available to keep the exchanges and others who use Bitcoin as collateral solvent.

And once any have to liquidate it'll trigger a race to the bottom as they all have to liquidate to cover debts
 
2022-06-27 8:04:53 AM  

Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.


Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database
 
2022-06-27 8:14:52 AM  

kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database


Blockchain in its current form dates to at least 2008. The underlying concept goes back to 1982. And as far as I know, in all that time nobody has come up with a use case where blockchain is the best solution.

Well, other than money laundering with cryptocurrency, obviously. For everything else, it is second-rate at best.
 
2022-06-27 8:15:53 AM  

kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database


https://analyticsindiamag.com/how-walmart-uses-blockchain-to-manage-its-supply-chain

Note that this is a small, private blockchain.  There's also some talk that it could be used for authenticating luxury goods though I'm not sure how it would be superior to a traditional database.  Blockchain enthusiasts ridicule databases for being centralized, but for luxury goods, why wouldn't I want the goods authenticated in a centralized database by their maker?  It seems like blockchain is mostly being used as a hype mechanism by luxury brands and why not?  There is excellent crossover potential between luxury brands and NFT owners - both of whom purchase items base purely on status and exclusivity and not on utility.  If LV can say its bags are on the blockchain that probably makes them more appealing to the kind of people who pay $1,000 for a handbag that says LV all over it.

Keep in mind, none of this justifies the price of any cryptocurrency.
 
2022-06-27 8:16:08 AM  
I'm not sure who is more foolish, the company that borrowed $670 million to speculate in crypto, or the company that lent it to them.

Also: In before Guy_Who_Insists_That_Linux_On_The_Desktop_Is_Happening.
 
2022-06-27 8:18:24 AM  
The only blockchain (and I have zero evidence this would help, or even be needed) that should exist is Folding@home to stop default protien submissions from being processed. Or maybe the randomization would be faster than the constant reference chain. I dunno, it's all dumb.
 
2022-06-27 8:32:33 AM  

kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database


I've heard it mentioned a number of times in respect of international shipping and logistics; I guess for tracking the whereabouts and destinations of shipping containers and the like.

I'd imagine that there are at least a few other specialized applications like that out there where blockchain would bring some real utility.

/Of course, those aren't nearly as fertile a ground for grift and fraud as crypto/NFTs/web3.0/etc.
 
2022-06-27 8:34:09 AM  

weddingsinger: Was reading Bloomberg? The Economist? that if Bitcoin drops to $15,000 it becomes very unlikely there will be enough capital funding available to keep the exchanges and others who use Bitcoin as collateral solvent.

And once any have to liquidate it'll trigger a race to the bottom as they all have to liquidate to cover debts


HODL popcorn futures.
 
2022-06-27 8:36:27 AM  

HugeMistake: Well, other than money laundering with cryptocurrency, obviously. For everything else, it is second-rate at best.


Crypto is uniquely terrible for money laundering.
 
2022-06-27 8:40:21 AM  

Rapmaster2000: kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database

https://analyticsindiamag.com/how-walmart-uses-blockchain-to-manage-its-supply-chain

Note that this is a small, private blockchain.  There's also some talk that it could be used for authenticating luxury goods though I'm not sure how it would be superior to a traditional database.  Blockchain enthusiasts ridicule databases for being centralized, but for luxury goods, why wouldn't I want the goods authenticated in a centralized database by their maker?  It seems like blockchain is mostly being used as a hype mechanism by luxury brands and why not?  There is excellent crossover potential between luxury brands and NFT owners - both of whom purchase items base purely on status and exclusivity and not on utility.  If LV can say its bags are on the blockchain that probably makes them more appealing to the kind of people who pay $1,000 for a handbag that says LV all over it.

Keep in mind, none of this justifies the price of any cryptocurrency.


So Walmart maintains a database that requires authentication.....so do tons of other databases.  I guess you get some cryptographic stuff which can prevent someone from monkeying with the system, but people can also just pump bad data into the database.  I also doubt Walmart has to worry about internal people messing with the values stored in the database any more than any other company has.  And if someone does, they have an HR department to take care of it.

What this sounds like is Walmart overhauled their logistics system.  The blockchain didn't fix their problem, but instead just creating a unified system is what did it.
 
2022-06-27 8:40:31 AM  

BMFPitt: HugeMistake: Well, other than money laundering with cryptocurrency, obviously. For everything else, it is second-rate at best.

Crypto is uniquely terrible for money laundering.


Good for ransoms, though. Or at least better than "Leave the money in a suitcase in the men's bathroom in the park."
 
2022-06-27 8:42:13 AM  
We are in the process of communicating with relevant parties and fully committed to working this out

"fark you , pay me!"
 
2022-06-27 8:46:20 AM  

Rapmaster2000: https://analyticsindiamag.com/how-walmart-uses-blockchain-to-manage-its-supply-chain

Note that this is a small, private blockchain.


I've seen this example, but have never seen any explanation of how this is supposed to be an improvement over the same system implemented without blockchain.
 
2022-06-27 8:56:16 AM  

kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database


There is essentially nothing in the real world where a Blockchain is superior to SQL or noSQL database.

The instances where you need that level of distrust just don't really exist. Plus, you can fix genuine errors in a traditional database. And in the real world, errors happen all the time
 
2022-06-27 9:03:50 AM  

BMFPitt: Rapmaster2000: https://analyticsindiamag.com/how-walmart-uses-blockchain-to-manage-its-supply-chain

Note that this is a small, private blockchain.

I've seen this example, but have never seen any explanation of how this is supposed to be an improvement over the same system implemented without blockchain.


I have never been able to obtain any basic, coherent explanation of why a contrived unique number is worth money.
Perhaps, someday, I will.
Or, not.
I'm like that crusty old dude on "Hardcore Pawn":
"You think this is worth money? WHY?"
 
2022-06-27 9:04:16 AM  

kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database


And it's a really shiatty database, able to store only a tiny amount of data per record.  Anything useful has to be offloaded onto a more traditional database anyway.
 
2022-06-27 9:13:27 AM  

Gubbo: kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database

There is essentially nothing in the real world where a Blockchain is superior to SQL or noSQL database.

The instances where you need that level of distrust just don't really exist. Plus, you can fix genuine errors in a traditional database. And in the real world, errors happen all the time


The situation that requires the highest level of distrust will always be money.

However, we already have digital money, the (more robust, to boot) databases are maintained by and between banks.

The only greater level of distrust blockchain addresses is distrust of the actual banks to perform ledger calculations.  And the only people who really distrust the banks mechanisms there are people who wish to transact outside the rules of society.  That is to say: illegal activity.
 
2022-06-27 10:22:20 AM  
What sort of idiot loans $670 million to a crypto hedge fund?
 
2022-06-27 10:24:21 AM  
Better check with my financial advisor

i0.wp.comView Full Size
 
2022-06-27 10:30:31 AM  

Robo Beat: kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database

I've heard it mentioned a number of times in respect of international shipping and logistics; I guess for tracking the whereabouts and destinations of shipping containers and the like.

I'd imagine that there are at least a few other specialized applications like that out there where blockchain would bring some real utility.


I've heard that too, but still don't see superiority to a central authority. The authority requires trust, which is never going to be perfectly unquestionable. But blockchain requires trust too - effectively that 51% control is too expensive for a fraudster to obtain. And even IF that's the case, it means that maintaining the database is ludicrously expensive. It might look bearable when highly distributed, but I think the only reason cryptocurrencies have found that viable so far is the prospect of skyrocketing coin values. That's not going to happen with logistic tracking data.
 
2022-06-27 10:54:12 AM  
Fark user imageView Full Size

Please report to the business tab!
 
2022-06-27 10:59:57 AM  

OccamsWhiskers: Robo Beat: kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database

I've heard it mentioned a number of times in respect of international shipping and logistics; I guess for tracking the whereabouts and destinations of shipping containers and the like.

I'd imagine that there are at least a few other specialized applications like that out there where blockchain would bring some real utility.

I've heard that too, but still don't see superiority to a central authority. The authority requires trust, which is never going to be perfectly unquestionable. But blockchain requires trust too - effectively that 51% control is too expensive for a fraudster to obtain. And even IF that's the case, it means that maintaining the database is ludicrously expensive. It might look bearable when highly distributed, but I think the only reason cryptocurrencies have found that viable so far is the prospect of skyrocketing coin values. That's not going to happen with logistic tracking data.


Yeah, that's what I keep missing about blockchains.....they aren't fixing the meat puppet part of anything.
 
2022-06-27 11:21:57 AM  
history.comView Full Size
 
2022-06-27 11:22:51 AM  
At this point, GME seems like a better investment than Crypto.
 
2022-06-27 12:39:30 PM  

kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database


I never understood why Ellison is so rich. Oracle is just a database.
 
2022-06-27 1:01:35 PM  

Russ1642: What sort of idiot loans $670 million to a crypto hedge fund?


Fark user imageView Full Size
 
2022-06-27 1:02:21 PM  

Gubbo: kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database

There is essentially nothing in the real world where a Blockchain is superior to SQL or noSQL database.

The instances where you need that level of distrust just don't really exist. Plus, you can fix genuine errors in a traditional database. And in the real world, errors happen all the time


By that same logic, there is no advantage to a database than an excel document.

If you update the rows carefully enough, it is the same.
 
2022-06-27 1:16:09 PM  

mr0x: By that same logic, there is no advantage to a database than an excel document.


I do not understand the use of the word "than" in this context.
What is this odd sentence even supposed to mean?
Is English your first language?
 
2022-06-27 1:22:40 PM  

mr0x: kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database

I never understood why Ellison is so rich. Oracle is just a database.


I have a friend who works for Oracle.  He's basically a consultant.  That's how Oracle makes money.
 
2022-06-27 1:31:36 PM  

jso2897: mr0x: By that same logic, there is no advantage to a database than an excel document.

I do not understand the use of the word "than" in this context.
What is this odd sentence even supposed to mean?
Is English your first language?


If you want to engage in a thread on bitcoin and blockchain, you need to have some basic technical knowledge.
 
2022-06-27 3:13:08 PM  

jso2897: mr0x: By that same logic, there is no advantage to a database than an excel document.

I do not understand the use of the word "than" in this context.
What is this odd sentence even supposed to mean?
Is English your first language?


I don't know if it's grammatically correct, but it's meaning is perfectly clear.

Than is used to draw a comparison between two or more items...

Item 1: a database
Item 2: an excel document
 
2022-06-27 4:37:05 PM  

mr0x: Gubbo: kidgenius: Rapmaster2000: There are a few instances where blockchain technology is useful.

Therefore, you should buy lots of Bitcoin so you can get rich.

Frankly, I'm still not sure where a blockchain specifically is uniquely useful.  Its just a database

There is essentially nothing in the real world where a Blockchain is superior to SQL or noSQL database.

The instances where you need that level of distrust just don't really exist. Plus, you can fix genuine errors in a traditional database. And in the real world, errors happen all the time

By that same logic, there is no advantage to a database than an excel document.

If you update the rows carefully enough, it is the same.


You wanna know how we all know you're invested in crypto?

In at least one other thread your comments have implied you are unaware of common crypto talking points/memes, know little about crypto.

Yet more often than not in your comments you end up defending crypto or giving benefit of the doubt.

So, which is the real mr0x?
 
2022-06-27 5:31:16 PM  

mr0x: By that same logic, there is no advantage to a database than an excel document.

If you update the rows carefully enough, it is the same.

What thing can be done with the blockchain that can't be done with a traditional database?


In the same way that Word is the same as Notepad.
 
2022-06-28 1:09:14 PM  

BMFPitt: HugeMistake: Well, other than money laundering with cryptocurrency, obviously. For everything else, it is second-rate at best.

Crypto is uniquely terrible for money laundering.


And yet, strangely popular.

In the old days we'd buy a paper ticket for a full fare first class flight to Australia. You could take it to the airline's desk at any major airport, ask for a refund, and walk away with a clean check in the name of a major airline.
 
2022-06-28 1:13:14 PM  

BMFPitt: mr0x: By that same logic, there is no advantage to a database than an excel document.

If you update the rows carefully enough, it is the same.

What thing can be done with the blockchain that can't be done with a traditional database?

In the same way that Word is the same as Notepad.


To be clear: in this example, Blockchain is Notepad.

Or strictly speaking, Notepad without the ability to delete anything you've ever typed.
 
2022-06-28 9:01:00 PM  

HugeMistake: To be clear: in this example, Blockchain is Notepad.

Or strictly speaking, Notepad without the ability to delete anything you've ever typed.


Strictly speaking, blockchain would never fit into the analogy as any software anyone has heard of, because that software is useful.
 
Displayed 38 of 38 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.