unfortunately crypto is all LULZ is these days. i wish they would make a crypto containment board and have LULZ be an actual board for, you know, real business and finance stuff
>Thinking of starting a business >Go to LULZ to discuss business plans >It's all shitcoin pumping threads >My business plan thread gets 0 replies. >Later my IP is rangebanned for begging
I wish we had a proper business board like /bis/ for non-crypto posts, oh well
>what is "the planet"
LOL ekos are so stupid that they do not understand that the planet is only rocks bound by gravity not some living magic gaya shit.
>save the planet
Invalid statement.
>AGW
Does not exist.
>kill yourself
Yes exactly like the elite overlords planed make up bullshit eco propaganda so the plebs want to kill themselves.
How exactly do you think this electric plant would benefit people if it wasn't sold?
People pay for the energy. If it was for sale, apparently the demand wasn't high enough to cover operational costs and keep it running. In this case it's better to adapt it for another use.
The bitterness on LULZ about missing out on the modern day gold rush is hilarious. I'm retired at 31 and will never have to work another day in my life, all thanks to my "fake" money.
They are just printed without wasting massive amounts of energy for nothing
1 year ago
Anonymous
To be fair paper money is an inherently useless piece of paper that takes a lot of resources and and energy to produce (not nearly as much as bitcoin though) in a way that is difficult to reproduce by criminals.
1 year ago
Anonymous
you could argue it is useless paper/cotton and such used, but it's really not much when compared to the value the note holds
1 year ago
Anonymous
And yet they hold value.
The value doesn't come from the printing or doing cryptographic puzzles, it comes from the fact that people are willing to pay for it.
1 year ago
Anonymous
There's a cost associated with cryptocurrency on computing costs to secure and encrypt the transactions. The problem is that value of most cryptocurrencies are complete decoupled from this. They need a massive correction to fix this if you want to taken seriously as an actual currency not a vehicle for money laundering and speculative trading
There’s no value in fucking anything aside from what we as humans place on it you retard. We could all agree to bottlecaps being currency and the petrodollars would be just as fucked.
>muh environment
Crypto provides a direct incentive to go green. Talk to your israeli government to why they didn’t switch to renewables 20 years ago
nobody believes you though because the amount of people that put more than even 2% of their portfolio into crypto is VERY very low. im guessing you watched some youtube videos with some influencers saying shit is BLOWING UP!! but in reality those influencers barely put any of their money into crypto and instead make their money from fooling retards like you
i dont know why people insist on larping over crypto but whatever i guess
I am salty considering I sold most of the ~80BTC I mined a decade ago back when they were worth like $15 instead of holding onto them and being a multi-millionaire.
That said Bitcoin is horribly inefficient compared to other payment processors and currencies. And most of the hype surrounding it is speculative investment, not actually using it for what it's intended.
It wasn't a gold rush you idiot. It is a massive con game. The vast majority never hit it big. They took some kind of lost or barely broke even. The only winners were the whales who manipulated the market with pumping and dumping with little or no legal oversight.
LULZ hates everything. i used to disregard crypto as well but then i did my research and it's actually not that bad. well, most projects are indeed scams but i really don't understand how shit like monero is not popular with LULZtards. maybe it is but they don't talk about it.
Remember when LULZ usually slid off every post about bitcoin before bitcoin even blew up. Those were the days, and now you know that whatever LULZ says you should never do it. Poor people make worse choices by default, so what you do is just the opposite of what poor/ngmi people do.
This. I am so glad I stopped being a LULZ moralfag and started looking at LULZ back in early 2017. Now I've made it off link, btc, and eth. Seriously look at these nocoiners
Whales are the only makes making a profitable you brainlets. Miners are paypigs who don't understand what are operational costs and capital expenditure. Unless you go big, mining is a fool's errand at this stage. The only winners are resellers/scalpers who are selling overpriced gayming trash to gullible miners at a handsome profit.
Gold had value in the past because it does not corrode. Gold has value in the present because it is a critically rare component in aerospace and electronics.
>worthless for long-distance trade
I can perform transactions across 1000 yards of distance. >daily short-distance trade
Short distance trades of 30 to 60 at a time are extremely common.
The idea of money is to facilitate the trade of resources for other resources, not to turn finite resources into the exchange medium itself lmao. Crypto """"""""currency""""""" gets everything ass-backwards.
This thread is filled with people that do not understand blockchain technology. What happened to LULZ that LULZ is the more technically competent board?
sorry bro but we're still 10+ years away from making blockchains actually useful for the general public, because this crypto obsession will go on and on until the entire world can no longer provide enough electricity for it.
The problem isn't blockchain technology in itself. The problem is that cryptocurrencies are being used a vehicle for speculative trading and money laundering with little to no legal oversight by certain parties. Retards are following for "get rich quick" hype without understanding the game and are being played as cattle/collateral.
It is just a ponzi scheme fueled by economically illiterate fools who are transferring their wealth to whales who manipulate the market at a whim.
Greater fool theory and sunken cost fallacy are simply too strong for players to give up. The only winning move is not to play.
How do you feel about the power and resource usage of large banks, governments, militaries, the automobile industry, electronics fabricators, and law enforcement organizations, OP?
I wonder how far it will go. We haven't had a recession in a while I wonder if that will kill bitcoin. Who knows how recessions will effect crypto. Or lots of shit. We have all these huge firms like google, amazon, etc that weren't even as nearly as big pre 2008.
and that problem was already solved now, look up the Avalanche Consensus and read up how it works.
solves the mining problem, is decentralized and can actually scale. the only platform using this consensus protocol is named after this consensus method and currently trade at 70 bucks.
fun thing is all the defi stuff on ethereum actually works on avalanche too, just with sub second finality, no frontrunning and extremely low fees.
its also hardcapped like BTC and fees from transactions are burned.
if you want to make it you buy this shit.
but dont believe anything I said, do your own research.
Post YFW you realize that GPU prices will never go down because people will never stop making proof of work shitcoins because there will never be a shortage of cupidous imbeciles who think they can get rich off mining by just buying GPUs and then doing absolutely nothing.
>Uses more power than a medium-sized country >How many unbanked are now banked >How many legitimate transactions are performed thru crypto >Mostly used as a speculative gambling tool
If you became rich thru crypto good for you, but overall crypto has been a burden to mankind.
Cryptocurriency isn't going to be banned. They underlying technology are simply going to be absorbed and be legitimatized. Anything outside of global market will get lockdown hard most of its value will evaporate as it can no longer be easily used as a means to laundry money and speculate.
Wrong kiddo, Bitcoin and any of the big cryptocurrency consume far more energy than HFT and digital money exchanges. Their only lure is that there's no to little legal oversight making it a magnet for illicit activities.
>energy
That's not the only thing that matters, anon. Banks drain far more than just energy. Transaction fees are fucking insane, man. If we have to choke the air with black smog just to get the hands of the banks to loosen their grip on our necks, so be it.
Yes but banks actually serve normal people instead of money launderers, drug dealers and dogecoin autists who believe they're toppling world governments.
> Transaction fees
Wow, you are delusional. If you think transaction fees for banks are bad. Crypto exchanges are much much worse with even less legal oversight. Besides, banks make the bulk of their revenue stream via HFT and loans/mortgages not transaction fees.
Direct cash can be tracked you brainlet. Money laundry involves reallocating assets coming from illicit shit through intermediaries so it ends up appearing "legitimate" at face and difficult to backtrack its complete history.
In a way, cryptocurrencies are an evolution of this which is why they are a massive magnet for money laundering.
You realize that article is more about how aging power plants are struggling against growing operational costs (fuels aren't getting cheaper) and emissions mandates (not cheap implement and maintain). They are desperate enough to use highly volatile and dubious revenue streams to keep solvent.
>implying crypto is a legitimate trade
unfortunately crypto is all LULZ is these days. i wish they would make a crypto containment board and have LULZ be an actual board for, you know, real business and finance stuff
biz was created as the crypto containment board you silly newfag
fuck off newfag. LULZ was created during the 2013 bull run specifically as a crypto containment board because BTC threads were clogging up LULZ
the butt holes of women to snort cocaine off of along with a jaguar
how new?
>Thinking of starting a business
>Go to LULZ to discuss business plans
>It's all shitcoin pumping threads
>My business plan thread gets 0 replies.
>Later my IP is rangebanned for begging
I wish we had a proper business board like /bis/ for non-crypto posts, oh well
AGW is a death cult
save the planet kill yourself
what is "the planet"
>what is "the planet"
LOL ekos are so stupid that they do not understand that the planet is only rocks bound by gravity not some living magic gaya shit.
>save the planet
Invalid statement.
>AGW
Does not exist.
>kill yourself
Yes exactly like the elite overlords planed make up bullshit eco propaganda so the plebs want to kill themselves.
>only rocks bound by gravity not some living magic gaya shit.
incredibly cringe fedora tier reductionist fallacy
>implying there's any technology in it
>cost adjustment is absurdly high
>bro let's just sell a power plant to a bitcoin miner instead of providing better service to people
Based cryptochads dabbing on nocoiners
And? Go live in some third world communist shit hole if you don't like it
well i don't want to because power in those countries is unreliable.
>EHHH CRYPTO CUMS CRYPTO CUMS, I LUV CRYPTO CUMS WHY NOT EVERYONE LIKE CRYPTO CUMS? EVERYONE COMMIE.
How exactly do you think this electric plant would benefit people if it wasn't sold?
People pay for the energy. If it was for sale, apparently the demand wasn't high enough to cover operational costs and keep it running. In this case it's better to adapt it for another use.
>now
>mfw
just how much money do they make these days?
You can make a small fortune with crypto if you start out with a big fortune
They buy GPUs in pallets, so they're getting a lotta money from somewhere.
shhh
The bitterness on LULZ about missing out on the modern day gold rush is hilarious. I'm retired at 31 and will never have to work another day in my life, all thanks to my "fake" money.
Enjoy the grind.
I'm glad for you anon, but please don't brag too much qwq
Ochako is irrelevant and useless
Irrelevant and useless!
But it's actually stupid. There's no real value in crypto. How is burning earth resources to get some numbers is a good thing?
you'll stay poor thanks to your retarded moralfag decisions
I'm not poor. I have a roof and I can afford food and water. What else do you need?
Freedom of time
There’s no real value in the US dollar either you fucking tard. Industrial society was a mistake
checked
checked
How do you think dollars are made?
Fiat backed by a real economy and a lot of guns.
I've asked you how they are made, not what backed it.
They are just printed without wasting massive amounts of energy for nothing
To be fair paper money is an inherently useless piece of paper that takes a lot of resources and and energy to produce (not nearly as much as bitcoin though) in a way that is difficult to reproduce by criminals.
you could argue it is useless paper/cotton and such used, but it's really not much when compared to the value the note holds
And yet they hold value.
The value doesn't come from the printing or doing cryptographic puzzles, it comes from the fact that people are willing to pay for it.
There's a cost associated with cryptocurrency on computing costs to secure and encrypt the transactions. The problem is that value of most cryptocurrencies are complete decoupled from this. They need a massive correction to fix this if you want to taken seriously as an actual currency not a vehicle for money laundering and speculative trading
money is just an idea, that's why your 100 dollar bill is worth 100 instead of the worth of the paper (1$)
There’s no value in fucking anything aside from what we as humans place on it you retard. We could all agree to bottlecaps being currency and the petrodollars would be just as fucked.
>muh environment
Crypto provides a direct incentive to go green. Talk to your israeli government to why they didn’t switch to renewables 20 years ago
>Crypto provides a direct incentive to go green.
Oh, that must be why the miners in the OP bought an old, clapped-out, coal-fired power plant.
>There's no real value in crypto
Imagine being this dumb. Commie tard
there isn't a "real value" in the proof of work. It is just useless work done as a proof
nobody believes you though because the amount of people that put more than even 2% of their portfolio into crypto is VERY very low. im guessing you watched some youtube videos with some influencers saying shit is BLOWING UP!! but in reality those influencers barely put any of their money into crypto and instead make their money from fooling retards like you
i dont know why people insist on larping over crypto but whatever i guess
Did you sell your fake money for real money?
I am salty considering I sold most of the ~80BTC I mined a decade ago back when they were worth like $15 instead of holding onto them and being a multi-millionaire.
That said Bitcoin is horribly inefficient compared to other payment processors and currencies. And most of the hype surrounding it is speculative investment, not actually using it for what it's intended.
It wasn't a gold rush you idiot. It is a massive con game. The vast majority never hit it big. They took some kind of lost or barely broke even. The only winners were the whales who manipulated the market with pumping and dumping with little or no legal oversight.
Why are people taking this bait? Jesus christ guys, I swear everyone is getting more gullible by the day.
LULZ hates everything. i used to disregard crypto as well but then i did my research and it's actually not that bad. well, most projects are indeed scams but i really don't understand how shit like monero is not popular with LULZtards. maybe it is but they don't talk about it.
Remember when LULZ usually slid off every post about bitcoin before bitcoin even blew up. Those were the days, and now you know that whatever LULZ says you should never do it. Poor people make worse choices by default, so what you do is just the opposite of what poor/ngmi people do.
This. I am so glad I stopped being a LULZ moralfag and started looking at LULZ back in early 2017. Now I've made it off link, btc, and eth. Seriously look at these nocoiners
that believe its only mega whales that make money off this market. Talk about npcs much just going off nocoiner seethe articles, instead of dyor.
Whales are the only makes making a profitable you brainlets. Miners are paypigs who don't understand what are operational costs and capital expenditure. Unless you go big, mining is a fool's errand at this stage. The only winners are resellers/scalpers who are selling overpriced gayming trash to gullible miners at a handsome profit.
Have you sold all your cripto?
How much money you had before and after?
bitcoin = planet rape
if there were governments it'd be banned
It's banned in China, no need to thank me
China banning crypto had virtually no impact on the price.
Good so all risk is pushed onto foreign bag holders, all that needs to happen now is Tether getting blown up or something f
That's only so all the operations will be run from north Korea
Thanks i'll mine bitcoin now.
Who's driving this demand? Who unironically buys this shit? Is it boomers?
Bitcoin and crypto in general is a way to wash money, since it has no regulation in the way the stock market does.
How can a pyramid scheme go this far without anybody saying anything? Fucking incredible.
Yet somehow fiat makes sense. Capitalism is a fucking joke.
>Capitalism is a fucking joke.
As are all the alternatives.
If people are actually buying power plants for it, then there's no need to ask why you can't buy a 3080
never mind the GPUs, time to start worrying about when there won't be any electricity to buy.
i hear californians are already enjoying this state of affairs.
It's funny seeing all these retards who thought fiat was worth anything crying over bitcoin lmao.
fiat currency and crypto currency are equally worthless, what's your point.
That's exactly my point
crypto is not worthless, the idea and the programming behind it have good values
fiat on the other hand.... is just pieces of paper.
neither is gold.
Gold had value in the past because it does not corrode. Gold has value in the present because it is a critically rare component in aerospace and electronics.
the demand and price of gold is in no meaningful way correlated to its industrial use.
>the demand and price of gold is
correlated to its resistance to corrosion, which is why it's more valuable than silver.
i guess that would make potassium or magnesium the cheapest metal?
money has no actual value; it is a bubble that never comes down
bitcoin is...
>money has no actual value
Precious metals have value.
but are worthless for long-distance trade, and are difficult to use in daily short-distance trade as well.
papers representing ownership of precious minerals have proven remarkably unreliable. gold always gives its tenders sticky fingers.
>worthless for long-distance trade
I can perform transactions across 1000 yards of distance.
>daily short-distance trade
Short distance trades of 30 to 60 at a time are extremely common.
lead is not a precious metal. are you larping as the lone ranger?
How is lead not a precious metal?
sounds like you've already had plenty of lead exposure
>lead is not a precious metal. are you larping as the lone ranger?
I don't know anon have you looked at the price of ammo lately?
value exists in the minds of people
not out in the world
The idea of money is to facilitate the trade of resources for other resources, not to turn finite resources into the exchange medium itself lmao. Crypto """"""""currency""""""" gets everything ass-backwards.
bitcoin is the worst fucking crypto, fuck normalfags for latching onto it
The only worth crypto is monero of which bitcoin tried to become but failed to do so.
This thread is filled with people that do not understand blockchain technology. What happened to LULZ that LULZ is the more technically competent board?
sorry bro but we're still 10+ years away from making blockchains actually useful for the general public, because this crypto obsession will go on and on until the entire world can no longer provide enough electricity for it.
The problem isn't blockchain technology in itself. The problem is that cryptocurrencies are being used a vehicle for speculative trading and money laundering with little to no legal oversight by certain parties. Retards are following for "get rich quick" hype without understanding the game and are being played as cattle/collateral.
It is just a ponzi scheme fueled by economically illiterate fools who are transferring their wealth to whales who manipulate the market at a whim.
Greater fool theory and sunken cost fallacy are simply too strong for players to give up. The only winning move is not to play.
How do you feel about the power and resource usage of large banks, governments, militaries, the automobile industry, electronics fabricators, and law enforcement organizations, OP?
I wonder how far it will go. We haven't had a recession in a while I wonder if that will kill bitcoin. Who knows how recessions will effect crypto. Or lots of shit. We have all these huge firms like google, amazon, etc that weren't even as nearly as big pre 2008.
and that problem was already solved now, look up the Avalanche Consensus and read up how it works.
solves the mining problem, is decentralized and can actually scale. the only platform using this consensus protocol is named after this consensus method and currently trade at 70 bucks.
fun thing is all the defi stuff on ethereum actually works on avalanche too, just with sub second finality, no frontrunning and extremely low fees.
its also hardcapped like BTC and fees from transactions are burned.
if you want to make it you buy this shit.
but dont believe anything I said, do your own research.
It really is.
Drugs should be legal and the taxes would fund everything
Instead we are burning a limited resource for no reason at all
hbar and monero solve this
Post YFW you realize that GPU prices will never go down because people will never stop making proof of work shitcoins because there will never be a shortage of cupidous imbeciles who think they can get rich off mining by just buying GPUs and then doing absolutely nothing.
>Uses more power than a medium-sized country
>How many unbanked are now banked
>How many legitimate transactions are performed thru crypto
>Mostly used as a speculative gambling tool
If you became rich thru crypto good for you, but overall crypto has been a burden to mankind.
How much power do you think it takes the petrodollar and it’s monolithic israeli monuments to stay as the global reserve currency.
You kike
Go leave please, you're foaming at the mouth
Actually less than crypto at this point.
And for far more transactions.
Cryptocurriency isn't going to be banned. They underlying technology are simply going to be absorbed and be legitimatized. Anything outside of global market will get lockdown hard most of its value will evaporate as it can no longer be easily used as a means to laundry money and speculate.
Still overall less wasteful than traditional banking systems. So you lose a bit of electricity, fucking make more. These power plant chads get it.
Wrong kiddo, Bitcoin and any of the big cryptocurrency consume far more energy than HFT and digital money exchanges. Their only lure is that there's no to little legal oversight making it a magnet for illicit activities.
>energy
That's not the only thing that matters, anon. Banks drain far more than just energy. Transaction fees are fucking insane, man. If we have to choke the air with black smog just to get the hands of the banks to loosen their grip on our necks, so be it.
Yes but banks actually serve normal people instead of money launderers, drug dealers and dogecoin autists who believe they're toppling world governments.
>money launderers, drug dealers
Oh, I see. You're a retard zoomer who has never heard of paper money.
I forgot hackers who hack companies and demand ransom
>hackers who hack companies
oh fuck not hackers who hack
falling for ransomware is potato-tier bullshit anyway, who hasn't heard of offline backups, my fucking god
THE DANGEROUS HACKERMAN KNOWN AS 4CHINS
> Transaction fees
Wow, you are delusional. If you think transaction fees for banks are bad. Crypto exchanges are much much worse with even less legal oversight. Besides, banks make the bulk of their revenue stream via HFT and loans/mortgages not transaction fees.
>illicit activities
I buy coke and rent women with cash all the time, what the fuck are you on about?
Direct cash can be tracked you brainlet. Money laundry involves reallocating assets coming from illicit shit through intermediaries so it ends up appearing "legitimate" at face and difficult to backtrack its complete history.
In a way, cryptocurrencies are an evolution of this which is why they are a massive magnet for money laundering.
>Direct cash can be tracked you brainlet
If it's so easy, explain why they've never done so to bust my ass.
You are a little fry and not enough worth ratting out. Once you step on toe's of somebody big and influential. You'll change your tone fast.
You realize that article is more about how aging power plants are struggling against growing operational costs (fuels aren't getting cheaper) and emissions mandates (not cheap implement and maintain). They are desperate enough to use highly volatile and dubious revenue streams to keep solvent.
Literally factory that makes money
This thread was moved to