Cryptocurrency as the next significant stage for computing technology, not just an investment

[luke viia]

buy in while you still can https://www.computercoins.website/

[dcom]

Quote

Among crypto’s smartest observers, there is a widely held view that Three Arrows is meaningfully responsible for the larger crypto crash of 2022, as market chaos and forced selling sent bitcoin and other digital assets plunging 70 percent or more, erasing more than a trillion dollars in value. “I suspect they might be 80 percent of the total original contagion,” says Sam Bankman-Fried, who as CEO of FTX, a major crypto exchange that has bailed out some of the bankrupt lenders, has perhaps more visibility on the problems than anyone. “They weren’t the only people who blew out, but they did it way bigger than anyone else did. And they had way more trust from the ecosystem prior to that.”

The Crypto Geniuses Who Vaporized a Trillion Dollars (NY Intelligencer)

 

[ignatius]

local craigslist ad. 

[rek]

 

[Nebraska]

19 hours ago, ignatius said:

local craigslist ad. 

 

[Nebraska]

Quote

Cryptocurrency platform Crypto.com accidentally transfers $10.5 million to Melbourne woman It took the company seven months to realise its mistake.

By the time they did, millions had already been spent.

Thevamanogari Manivel used money to buy Melbourne property before supreme court granted Crypto.com freeze on her bank account

https://7news.com.au/news/vic/cryptocurrency-platform-cryptocom-accidentally-transfers-105-million-to-melbourne-woman-c-8058203

https://www.engadget.com/cryptocom-72-million-refund-whoops-154406931.html

[Nebraska]

 

[chenGOD]

I watched a 1:32 of that and I want my time back.

[zkom]

Nature research article: "Economic estimation of Bitcoin mining’s climate damages demonstrates closer resemblance to digital crude than digital gold"

https://www.nature.com/articles/s41598-022-18686-8

Abstract

Quote

This paper provides economic estimates of the energy-related climate damages of mining Bitcoin (BTC), the dominant proof-of-work cryptocurrency. We provide three sustainability criteria for signaling when the climate damages may be unsustainable. BTC mining fails all three. We find that for 2016–2021: (i) per coin climate damages from BTC were increasing, rather than decreasing with industry maturation; (ii) during certain time periods, BTC climate damages exceed the price of each coin created; (iii) on average, each $1 in BTC market value created was responsible for $0.35 in global climate damages, which as a share of market value is in the range between beef production and crude oil burned as gasoline, and an order-of-magnitude higher than wind and solar power. Taken together, these results represent a set of sustainability red flags. While proponents have offered BTC as representing “digital gold,” from a climate damages perspective it operates more like “digital crude”.

 

[ignatius]

^^not Facebook metaverse but a whole other sandbox

facebook is busy like this though

 

[Nebraska]

Quote

 

A new draft of Form 1040 says that digital assets will be “treated as a digital asset for federal income tax purposes.”

This year’s document explicitly includes non-fungible tokens (NFTs), cryptocurrencies, and stablecoins in the category of digital assets. It also includes “any digital representations of value that are recorded on a cryptographically secured distributed ledger or similar technology.” Taxpayers will need to indicate on their tax forms whether they received digital currencies as payment, as a reward, from mining or staking, or from a hard fork.

Furthermore, taxpayers will need to indicate whether they sold, disposed of, or traded digital assets and even whether they transferred digital assets for free as a gift.

It notes that crypto purchases made through Paypal and Venmo do not need to be reported.

 

https://www.irs.gov/pub/irs-dft/i1040gi--dft.pdf#page=17

https://cryptobriefing.com/irs-drafts-new-crypto-reporting-rules-for-tax-year-2022/

[zlemflolia]

that law is incoherent because it makes "doing nothing" illegal.  you don't know when a hard fork happens.  it's hard to keep track.  and if you hold any major cryptos you are constantly "receiving" hard fork tokens which are mostly worthless

[Nebraska]

20 hours ago, ilqx hermolia xpli said:

that law is incoherent because it makes "doing nothing" illegal.  you don't know when a hard fork happens.  it's hard to keep track.  and if you hold any major cryptos you are constantly "receiving" hard fork tokens which are mostly worthless

^^ which "major crypto" are you talking about because if you're holding any crypto and you're not steaking or trading, then you should know when a hard fork is happening. if you don't, you eventually will. i personally don't (and wouldn't) hold any stablecoin so if you're talking about those i'd just figure you've been scammed and it's a case of whether you'll get out fine or not fine (with a loss).

[zlemflolia]

1 hour ago, Nebraska said:

^^ which "major crypto" are you talking about because if you're holding any crypto and you're not steaking or trading, then you should know when a hard fork is happening. if you don't, you eventually will. i personally don't (and wouldn't) hold any stablecoin so if you're talking about those i'd just figure you've been scammed and it's a case of whether you'll get out fine or not fine (with a loss).

why would anyone care about random hard forks from some idiots, i dont keep track of these and have no intention.  everyone who holds bitcoin for example has tons of hard fork coins sitting there they aren't even aware of.  sometimes you can technically sell them but it requires careful security practices and wallet management (as in, do NOT expose private keys of your bitcoin wallet to the hard fork wallet software which are sometimes backdoored, you have to transfer all your bitcoins first, then open your hard fork wallet and move them to an exchange, massive hassle)

EDIT:
To explain further, I am talking about (and I believe the law is talking about) hard forks like Bitcoin Gold, Bitcoin Cash, etc., worthless shitcoins created as hard forks

https://www.investopedia.com/tech/history-bitcoin-hard-forks/

hahaha

Edited October 21, 2022 by ilqx hermolia xpli

[Nebraska]

15 minutes ago, ilqx hermolia xpli said:

why would anyone care about random hard forks from some idiots

because some of them affect all of cryptocurrency- example

[zlemflolia]

On 10/21/2022 at 1:35 PM, Nebraska said:

because some of them affect all of cryptocurrency- example

paywall cant read

but i just mean hard forks can happen at any time and there's no reason everyone's keeping track to even be capable of reporting "gained" altcoins from hard forks

[Nebraska]

that dude lost everything today

[ignatius]

20 hours ago, Nebraska said:

that dude lost everything today

 

[ignatius]

gonna get off the internet now. 

[ignatius]

 

[exitonly]

On 11/9/2022 at 12:08 PM, Nebraska said:

that dude lost everything today

been a pretty good week for sanity

[prdctvsm]

[ignatius]

Oh the lollercoaster is mega

 

[zlemflolia]

this, and let me repeat with added emphasis, this is good for bitcoin

[ignatius]

22 minutes ago, ilqx hermolia xpli said:

this, and let me repeat with added emphasis, this is good for bitcoin

Right now it’s mostly good for the lulz