The true and complete story of Bitcoin


#1

Originally published at: https://boingboing.net/2018/02/05/ok-so-bitcoin.html


#2

Haha wtf?! With the proper hardware, 2 step verification etc…there are ways to make sure Mr Robot couldn’t even hack your coins. I thought this was a joke at first honestly. Pure misinformation. FUD


#3

Satoshi a developer at Nintendo…that’s some serious insider info as Satoshi is a dude no one has ever met and is a made up name. That NVDA deal did not sink BTC. Regulation fear esp in China and S Korea is why.


#4

You should have gone with that instinct.


#5

Funny. The http and https stuff made me chortle. So glad he went after Tether, which is a scammy disaster waiting to happen.


#6

I can’t tell if you’re in on the joke or not…


#7

On a more serious note, the Socialist Standard have a couple of new articles about bitcoin (and cryptocurrencies in general).

http://www.worldsocialism.org/spgb/socialist-standard/2010s/2018/no-1362-february-2018/bitcoin-mania

http://www.worldsocialism.org/spgb/socialist-standard/2010s/2018/no-1362-february-2018/bitcoin-what-would-marx-think


#8

2018 is the year irony died, and it became impossible to tell the difference between genuine misunderstanding and five layers of irony wrapped in a bit masquerading as a character.

William Gibson should write a book about a near-future dystopian America that has devolved into chaos because no one can tell if anyone else is being serious.


#9

Spoken as a person who clearly doesnt have the raw, screaming gpu power to run quake III at 60fps with the lighting effects turned all the way up.


#10

My favorite cryptocurrency is Turtle Coin.

First, their URL is great: turtlecoin.lol

I didn’t know lol was a top level domain and now am trying to think of domains to buy and stuff to put there. EatThePoor.lol? Cancer.lol? ClownPenis.lol?

Second, the community is wonderful. I’m very new to this stuff and I’ve posted the dumbest of dumb questions in their Discord channel and the people there have been helpful, funny, and encouraging.

I’m mining on a 3 year old laptop for two weeks and now have 2000 shells (the name of the currency). I don’t expect it to ever amount to anything, but it’s been a fun thing to do with my daughter. Now we both understand it a little bit better.

If you are crypto-curious, TurtleCoin is a gentle way to try things out. It was launched on 4chan, so you know it’s good.


#11

I might be over-generalizing from that second article, but I honestly did not know that socialists were pro gold-standard.


#12

They aren’t. See the last few lines of the article.

Capitalism can be surpassed only by a system where the means of production and products have become the common property of the whole society, and access to them completely free. A society where gold would not be the universal form of equivalent, nor any other type of money.

Marx was describing what was happening in 19th Century Britain


#13

Thanks! somehow I didn’t parse that last line, and the repeated discussion of gold as measurable value of required labor as opposed to fiat currencies dominated the results of my at-work level of skimming.


#14

… but Gibson is a fiction writer not a documentarian.


#15


#16

I was under the impression that no one still knows with certainty who “invented” bitcoin.

Also i’ve been curious about mining for lulz but considering how bloody expensive electricity is where i live i don’t think i could come up ahead.


#17

I love this:

…passwords must be at least 8 characters long…


#18

Ethereum is planning to switch to proof of stake eventually, so you won’t need a rig for that. It’s unlikely, but I hope Bitcoin develops some tech for that as well. It’s become really bad for the environment. Something like 2 days of electricity for a household per transaction on average.


#19

I thought it was a Republican congressman at first.


#20

Bolgakov, eh? I should have known. Must be losing my touch.