Advertisement

Drudge Retort: The Other Side of the News
Sunday, May 02, 2021

An open sore of an a open source Ponzi scheme which does nothing for decent people all while destroying the environment. And that's the nicest thing Bill Maher has to say about cryptocurrency.

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

He's correct.

#1 | Posted by Angrydad at 2021-05-02 09:46 AM | Reply

Digital fairy dust.

#2 | Posted by SunTzuMeow at 2021-05-02 11:09 AM | Reply

Tulips

#3 | Posted by RightisTrite at 2021-05-02 11:21 AM | Reply

If Ray were around, he'd be claiming that Bitcoin is based on as much truth as the U.S. Dollar.

On a side note, I'm glad that gold finally sorta paid off for him. Over that span of time, I don't know that it kept up with inflation. But...

#4 | Posted by Whatsleft at 2021-05-02 02:14 PM | Reply

I don't know...smart contracts seem to be promising. There's also been some talk of patient records potentially being stored on a blockchain. There are uses to the tech besides currency.

Mark Cuban used to be a skeptic but he's an investor now.

#5 | Posted by Pirate at 2021-05-02 02:27 PM | Reply | Newsworthy 1

Cuban also use to think Ayn Rand was cool.

Boy was he wrong about that.

#6 | Posted by Tor at 2021-05-02 02:41 PM | Reply | Newsworthy 1

"Cryptocurrency is like Tinkerbell's light - its power source is based solely on enough children believing in it."

(Just like all currency)

#7 | Posted by snoofy at 2021-05-02 02:46 PM | Reply

real money is more complex than that snoofy.

#8 | Posted by Tor at 2021-05-02 02:48 PM | Reply

"An open sore of an a open source Ponzi scheme which does nothing for decent people all while destroying the environment."

Finally, Capitalism has found a way to cut out the middleman!

Energy as the basis for currency is far closer to the truth than, say, gold.

#9 | Posted by snoofy at 2021-05-02 02:49 PM | Reply

"real money is more complex than that snoofy."

Explain.

#10 | Posted by snoofy at 2021-05-02 02:50 PM | Reply

I was thinking of posting this yesterday.

#11 | Posted by sentinel at 2021-05-02 03:04 PM | Reply

Bitcoin seems like electric gold...without the jewelry and industrial use options.

#12 | Posted by Danforth at 2021-05-02 03:05 PM | Reply

#12 So does most money in use, which only exists electronically.

#13 | Posted by snoofy at 2021-05-02 03:08 PM | Reply

Cryptocurrency is to regular money like derivatives were to investing in stocks of actual companies. It will end just as badly (probably far worse).

#14 | Posted by sentinel at 2021-05-02 03:22 PM | Reply

Talk to a banker snoofy

#15 | Posted by Tor at 2021-05-02 06:19 PM | Reply

#14

You talk like derivatives aren't still used. What do you think caused the whole GameStop brouhaha?

#16 | Posted by TaoWarrior at 2021-05-02 06:51 PM | Reply

What do you think caused the whole GameStop brouhaha?
#16 | POSTED BY TAOWARRIOR

As randy moss said: "Straight cash, homie."
Took 1 lotto at 90c. And, well..... XD
Thank you derivatives.

#17 | Posted by GOnoles92 at 2021-05-02 07:03 PM | Reply

A lot of older folks decrying cryptocurrency as ponzis, or some other style of admitting they don't understand what is going on in the modern day.

Would major institutions do a bond issue in etherium if it was a fake system? That is one of many proof of concepts of value.

#18 | Posted by GOnoles92 at 2021-05-02 07:06 PM | Reply

" Would major institutions do a bond issue in etherium if it was a fake system"

Of course they would, especially if there's a virtual bandwagon involved.

#19 | Posted by sentinel at 2021-05-02 07:22 PM | Reply

#18

Agree. It has it's flaws but being a Ponzi scheme is not one of them.

#20 | Posted by TaoWarrior at 2021-05-02 07:23 PM | Reply

" You talk like derivatives aren't still used. "

Are they being used to the same extent as they were before 2009? If so, that's bad. We never learn.

#21 | Posted by sentinel at 2021-05-02 07:25 PM | Reply

"Would major institutions do a bond issue in etherium if it was a fake system? "

They've promised to pay something of tangible value back for the redemption of the bond, subject to lawsuits in court if the notes aren't paid. Hardly a fake system.

What are Bitcoins promising to pay back?

#22 | Posted by Danforth at 2021-05-02 09:03 PM | Reply

Talk to a banker snoofy
#15 | POSTED BY TOR

You think bankers are unbiased?
Bankers fear cryptocurrency. It's a financial instrument beyond their control.

But I asked you, Tor.
Why are you saying things you can't explain?
Why do you believe things you can't explain?
???

#23 | Posted by snoofy at 2021-05-02 09:14 PM | Reply

"What are Bitcoins promising to pay back?"

Commerce beyond the taxman's reach.

#24 | Posted by snoofy at 2021-05-02 09:15 PM | Reply

#22

What does a dollar promise to pay back?

#25 | Posted by TaoWarrior at 2021-05-02 09:16 PM | Reply

I believe an expert knows more than I.

#26 | Posted by Tor at 2021-05-02 09:21 PM | Reply

Money is vital to the economy or everyone would be stuck bartering, and getting a dozen eggs would be as complicated as a seven-player trade in Major League Baseball.

But the fatal flaw of money as an organizing principle for an economy is that once you have invented money, it's not longer simply a tool to facilitate the free exchange of goods.

Because once you have a way to make money, making money becomes the sufficient reason for doing something.

At which point it's no longer about facilitating commerce.

#27 | Posted by snoofy at 2021-05-02 09:22 PM | Reply

I believe an expert knows more than I.
#26 | POSTED BY TOR

I believe an expert can sneak their biases past your guard without you ever realizing.

#28 | Posted by snoofy at 2021-05-02 09:23 PM | Reply

I believe you can't explain climate change to me.

#29 | Posted by Tor at 2021-05-02 09:29 PM | Reply

"I believe you can't explain climate change to me."

If you don't know what the greenhouse effect is, then I can't.
If you can't learn what the greenhouse effect is, that's not my shortcoming.

#30 | Posted by snoofy at 2021-05-02 09:37 PM | Reply

Not all money is created equal. Printed money is basically a form of credit. It's value changes and fluctuates over time, but it's nowhere near as volatile as cryptocurrency, which is largely unregulated and anyone can create their own with relatively little startup. "Mining" bitcoins and other cryptocurrencies causes more damage to the physical environment than the government printing dollars or issuing equivalent IOUs in your bank account. And their value can literally evaporate overnight, in the current climate.

#31 | Posted by sentinel at 2021-05-02 09:41 PM | Reply

"And their value can literally evaporate overnight, in the current climate."

That happens with fiat currency too.

#32 | Posted by snoofy at 2021-05-02 09:46 PM | Reply

They've promised to pay something of tangible value back for the redemption of the bond, subject to lawsuits in court if the notes aren't paid. Hardly a fake system.

What are Bitcoins promising to pay back?

#22 | POSTED BY DANFORTH

Ethereum denominated bond issuance, by a central bank, underwritten by institutional banks:
finance.yahoo.com

#33 | Posted by GOnoles92 at 2021-05-02 09:53 PM | Reply

"If you can't learn what the greenhouse effect is, that's not my shortcoming."

Sounds like you have financial problems.

#34 | Posted by Tor at 2021-05-02 09:58 PM | Reply

Danforth,
Regular currencies fail from time to time.
So the fact that a currency might fail doesn't seem like it invalidates it being a currency.

#35 | Posted by snoofy at 2021-05-02 09:59 PM | Reply

Sounds like you have financial problems.
#34 | POSTED BY TOR

People around here develop the weirdest ------- for me.

#36 | Posted by snoofy at 2021-05-02 10:00 PM | Reply | Funny: 1

I wish I had the financial problem of buying Bitcoin before it skyrocketed.
So I guess I do have financial problems, at least of the crypto-financial variety.
Good looking out, Tor. Thank you.

#37 | Posted by snoofy at 2021-05-02 10:05 PM | Reply

Danforth, I think I sort of see the point you are making about currency as an instrument of debt. Which is why I liked your first comment about "electric gold." But then, gold was used to back currencies for quite a long while, so that feels like it shouldn't be such a problem for a currency.

With bitcoin there would presumably come a day when the cost to mine the few remaining coins isn't worth it. But it certainly does illustrate how making it so you can make a currency, results in a lot of work just making more currency, and not really making the world a better place.

Back when it was gold, it was the kind of treasure you might conquer the New World in hopes of. Making the world a better place.

#38 | Posted by snoofy at 2021-05-02 10:23 PM | Reply

#26

I spoke several times with the lead developer of the reference implementation of Bitcoin and the founder of the Bitcoin foundation I started talking with him before the first coin was mined and continued talking with him over the next year. As such I am probably the closest thing to an expert on Bitcoin you will find.

Almost all the things naysayers say about Bitcoin is ill informed. While anyone can mine Bitcoin that's no different than any gold rush in history. Anyone can try few will succeed. It's an intangible asset but so is most money these days and even physical money unless it's specie can and does fluctuate in value. The only real issue is the resources that mining and maintaining takes. That one was unanticipated at the outset and has been worked on but will probably never be fixed. That may be the thing that kills it but it won't kill crypto. One day a system will be built that does anticipate the growth and is designed to be significantly less resource intensive.

#39 | Posted by TaoWarrior at 2021-05-02 10:30 PM | Reply | Funny: 1

What Cryptocurrency looks like off the net.

www.youtube.com

#40 | Posted by Tor at 2021-05-02 10:35 PM | Reply

"But then, gold was used to back currencies for quite a long while, so that feels like it shouldn't be such a problem for a currency."
~Snoofy

Except gold has other uses, like jewelry and conductivity. It also has history on its side, and a rarity which complements its value. Shouldn't Bitcoin become less valuable as it becomes less rare?

"Ethereum denominated bond issuance"
~GoNoles

So far you've agreed with the critics: Bitcoin's worth is only what the next chump will pay.

"What does a dollar promise to pay back?"
~TaoWarrior

Something tangible I can negotiate up front. What is $1000 of today's Bitcoin going to be worth in 5 years? You don't know if it's $5000 or $5.

#41 | Posted by Danforth at 2021-05-02 10:57 PM | Reply

"Back when it was gold, it was the kind of treasure you might conquer the New World in hopes of. Making the world a better place."

Same when it was tulip bulbs.

#42 | Posted by Danforth at 2021-05-02 10:57 PM | Reply

"Ethereum denominated bond issuance"

Really...isn't that a sop to the fact there are suckers born every minute? What's next: Unobtanium?

The only people guaranteed to make money on these deals are the brokers.

#43 | Posted by Danforth at 2021-05-02 11:01 PM | Reply

"Commerce beyond the taxman's reach."

Not legally.

And now there is a proactive box you must check on the 1040 stating you did NOT deal in cryptocurrency.

No doubt forgetting to check that box gets you on a watch list.

#44 | Posted by Danforth at 2021-05-02 11:03 PM | Reply

Shouldn't Bitcoin become less valuable as it becomes less rare?

#41 | POSTED BY DANFORTH AT 2021-05-02 10:57 PM | FLAG:

Bitcoin becomes more rare through continual halving. Not if demand is sufficient to support the price.

The returns on mining are trash. The returns on speculation have been enormous.

#45 | Posted by sitzkrieg at 2021-05-03 07:38 AM | Reply

Really could use that edit option to switch those first two sentences...

#46 | Posted by sitzkrieg at 2021-05-03 07:39 AM | Reply

"Bitcoin becomes more rare through continual halving."

Please explain. Does Bitcoin automatically degrade in value?

#47 | Posted by Danforth at 2021-05-03 10:30 AM | Reply

"Not if demand is sufficient to support the price."

Tulip Bulbs on line #1 for you.

#48 | Posted by Danforth at 2021-05-03 10:31 AM | Reply

#47 I think he means it's harder to mine. Finding the next one is increasingly hard.

#49 | Posted by snoofy at 2021-05-03 10:58 AM | Reply

Danforth, "Markets can stay irrational longer than you can remain solvent" isn't a flaw of bitcoin or tulips. It's a flaw of markets, or of people, take your pick.

#50 | Posted by snoofy at 2021-05-03 11:00 AM | Reply

" I think he means it's harder to mine. "

So the energy wasted is only going to increase, and exponentially?!? Wouldn't burning cash cut out the middleman?

#51 | Posted by Danforth at 2021-05-03 11:00 AM | Reply

""Markets can stay irrational longer than you can remain solvent" isn't a flaw of bitcoin or tulips. It's a flaw of markets"

True. It's all about timing, and human nature. The first time I ever heard about loans for 125% of a home's value, I thought "That's a disaster waiting to happen." It did...but it took a few years, and folks made fortunes in-between. Seeing the inherent flaw, I kept expecting it to collapse immediately; I was wrong.

#52 | Posted by Danforth at 2021-05-03 11:09 AM | Reply

So the energy wasted is only going to increase, and exponentially?!? Wouldn't burning cash cut out the middleman?

#51 | POSTED BY DANFORTH AT 2021-05-03 11:00 AM | REPLY | FLAG:

Yes, and people start new coins all the time to blow energy on.

You are burning cash metaphorically. You have to buy high energy consumption rigs and keep them fueled if you are a miner. In a handful of extraordinary circumstances, like geothermal in Iceland, it's not the dirtiest thing ever. That's less than a quarter of a percent of BTC energy consumption. 65% of energy for BTC is from coal powered miners in China, which is dirt cheap for locals.

#53 | Posted by sitzkrieg at 2021-05-03 11:15 AM | Reply

and there's no middleman. You buy some rigs and start running them. The only time there could be a middleman is during the transaction should you choose to sell them, and they can be done direct with no broker.

#54 | Posted by sitzkrieg at 2021-05-03 11:16 AM | Reply

Easiest to just copy paste the How It Works

For every 210,000 blocks that are mined, the reward for mining a block falls by half. For the first 210,000 blocks in bitcoin's early days, the reward was 50BTC per block. As more blocks were mined and more bitcoins went into circulation, the first set of 210,000 blocks were mined by 2012, and the reward was cut in half to 25BTC.

By 2016, the second set of 210,000 blocks were mined, and the reward was cut to 12.5BTC. The latest halving occurred in May 2020, upon the completion of 630,000 blocks (the third set of 210,000 blocks), and the reward is now 6.25BTC per block.

It takes roughly four years for 210,000 blocks to be mined. Consequently, bitcoin halving usually occurs in four-year intervals. The next halving is predicted to take place in 2024.

#55 | Posted by sitzkrieg at 2021-05-03 11:19 AM | Reply

Why Bitcoin Halving Occurs

The supply of bitcoin is fixed at 21 million. Upon reaching the 21 million mark, the creation of new bitcoins will cease. Bitcoin halving ensures that the amount of bitcoin that can be mined with each block decreases, making bitcoin more scarce, and ultimately, more valuable.

Rationally, the incentive for mining bitcoin would fall with the completion of each halving. However, bitcoin halvings are associated with huge surges in the price of bitcoin, which provides miners with the incentive to mine more, although their rewards are now halved.

Price increases incentivize bitcoin miners to continue mining. On the contrary, if the price of bitcoin doesn't increase and block rewards are halved, miners may lose the incentive to create more of the digital currency. It is because mining bitcoin requires high amounts of computational power and electricity and can be a costly process.

#56 | Posted by sitzkrieg at 2021-05-03 11:20 AM | Reply

bitcoin, the stock market, etc. are all gambling. And if you haven't figured out who the sucker is, it is you.

#57 | Posted by bus_driver at 2021-05-03 11:20 AM | Reply

What Happens After the Last Bitcoin Halving?

The last bitcoin halving is predicted to occur in 2040, after which block rewards will not be in the form of bitcoin. After the last halving occurs, miners will be rewarded with fees from network users (i.e., people who buy and sell bitcoin) so that they are incentivized to continue processing transactions on the bitcoin blockchain.

#58 | Posted by sitzkrieg at 2021-05-03 11:21 AM | Reply

bitcoin, the stock market, etc. are all gambling. And if you haven't figured out who the sucker is, it is you.

#57 | POSTED BY BUS_DRIVER AT 2021-05-03 11:20 AM | FLAG:

Elon Musk you red pill swallowing, COVID having and denying, pump and dumping, all around nutter... just keep taking that sweet, sweet Dogecoin to $1.

#59 | Posted by sitzkrieg at 2021-05-03 11:32 AM | Reply

"So the energy wasted is only going to increase, and exponentially?"

That's kinda how mining works in general... technology didn't even exist to so what Deepwater Horizon does (or rather, did) when we first started drilling oil.

#60 | Posted by snoofy at 2021-05-03 11:54 AM | Reply

"After the last halving occurs, miners will be rewarded with fees from network users (i.e., people who buy and sell bitcoin)"

So, as soon as the Emperor is told he's naked, the whole thing collapses. And the sole reason to own it is to sell it for more in the future.

Do you see a problem with the back end of the equation, considering the "asset", unlike say Apple or Abbott, has no income stream attached?

#61 | Posted by Danforth at 2021-05-03 01:10 PM | Reply

"Do you see a problem with the back end of the equation, considering the "asset", unlike say Apple or Abbott, has no income stream attached?"

I don't see a problem that is not seen in other commodities, including currencies that collapse, specialized labor that loses its value due to technological innovation, etc.

#62 | Posted by snoofy at 2021-05-03 01:25 PM | Reply

#12 So does most money in use, which only exists electronically.

#13 | Posted by snoofy

Except unlike most money in use, bitcoin burns a ton of carbon.

No other commodity WASTES as much carbon unnecessarily than crypto.

At least burning oil in an SUV gets your kids to school. Burning it so "miners" can avoid getting a real job is far worse.

#63 | Posted by SpeakSoftly at 2021-05-03 01:37 PM | Reply

"No other commodity WASTES as much carbon unnecessarily than crypto."

All the plastic floating in the sea on like 2

#64 | Posted by snoofy at 2021-05-03 01:55 PM | Reply

"No other commodity WASTES as much carbon unnecessarily than crypto."

All the plastic floating in the sea on like 2

#64 | Posted by snoofy

Yeah but those plastics served a purpose that in many instances no other material could have served, and could have been recycled.

Bitcoin just burns carbon for no reason other than lazy nerds not wanting to get real jobs.

#65 | Posted by SpeakSoftly at 2021-05-03 02:12 PM | Reply

bitcoin burns a ton of carbon.

#63 | POSTED BY SPEAKSOFTLY AT 2021-05-03 01:37 PM | FLAG:

Because of those pesky Chinese people and their coal mines leading to 65% of BTC energy consumption in just a few provinces burning ultra cheap coal.

That 0.025% of BTC out of Iceland is mined from geothermal power.

#66 | Posted by sitzkrieg at 2021-05-03 02:13 PM | Reply

"and could have been recycled."

...

#67 | Posted by snoofy at 2021-05-03 02:22 PM | Reply

Because of those pesky Chinese people and their coal mines leading to 65% of BTC energy consumption in just a few provinces burning ultra cheap coal.

That 0.025% of BTC out of Iceland is mined from geothermal power.

#66 | Posted by sitzkrieg

So what? You're saying that bitcoin wouldnt be bad for the environment if we had a magic wand that would make everyone mine with with zero carbon energy?

To quote wayne's world, "and if a frog had wings it wouldn't bounce his ass when he hopped"

What's your point?

#68 | Posted by SpeakSoftly at 2021-05-03 02:26 PM | Reply

"No other commodity WASTES as much carbon unnecessarily than crypto."

1. The computations to mine bitcoin aren't "unnecessary."
2. I bet flowers are a lot more wasteful.

#69 | Posted by snoofy at 2021-05-03 02:27 PM | Reply

"You're saying that bitcoin wouldnt be bad for the environment if we had a magic wand that would make everyone mine with with zero carbon energy?"

See:

"and could have been recycled."

#70 | Posted by snoofy at 2021-05-03 02:27 PM | Reply

1. The computations to mine bitcoin aren't "unnecessary."
2. I bet flowers are a lot more wasteful.

#69 | Posted by snoofy

The existence of bitcoin is unnecessary except for lazy nerds who'd die at a real job.

And plants help solve climate change. The opposite of bitcoin which helps cause it.

#71 | Posted by SpeakSoftly at 2021-05-03 02:38 PM | Reply

"and could have been recycled."

#70 | Posted by snoofy

Did you skip the part where recycling was even an option. Or where the plastic was a life saving IV bag?

It's about sacrifices and tradeoffs. At least plastic and oil do something for people. Bitcoin is more like rolling coal or like lighting oil on fire as a hobby for your entertainment.

#72 | Posted by SpeakSoftly at 2021-05-03 02:40 PM | Reply

So what? You're saying that bitcoin wouldnt be bad for the environment if we had a magic wand that would make everyone mine with with zero carbon energy?

#68 | POSTED BY SPEAKSOFTLY AT 2021-05-03 02:26 PM | FLAG:

Google has been carbon neutral for years. If you feel bad about your ------ polluting mine, buy Carbon Offsets.

#73 | Posted by sitzkrieg at 2021-05-03 02:40 PM | Reply

"Did you skip the part where recycling was even an option."

You sound like someone saying the USSR wasn't real Communism.

Recycling was an option.
Mining bitcoin with only solar power was also an option.

Capitalism thinks your options suck.

#74 | Posted by snoofy at 2021-05-03 03:01 PM | Reply

Bill Maher is such a financial genius Bitcoin is sure to bottom out after his pronouncements. What it's up 4K since then, how could this happen, Old political comedians are a great source of investing information.

#75 | Posted by TaoWarrior at 2021-05-03 03:20 PM | Reply

Or where the plastic was a life saving IV bag?

#72 | POSTED BY SPEAKSOFTLY AT 2021-05-03 02:40 PM | FLAG:

If any life saving drugs whatsoever were used in the bag with the saline it is medical waste and can not be recycled.

#76 | Posted by sitzkrieg at 2021-05-03 03:24 PM | Reply

Bill Maher is such a financial genius Bitcoin is sure to bottom out after his pronouncements.

#75 | POSTED BY TAOWARRIOR AT 2021-05-03 03:20 PM | FLAG:

Thankfully it doesn't take a financial genius to point out the negative environmental effects of coal based crypto mining.

#77 | Posted by sitzkrieg at 2021-05-03 03:25 PM | Reply

@TAOWARRIOR

I have a couple hundred tor-bit you want to buy some?

#78 | Posted by Tor at 2021-05-03 03:32 PM | Reply

Google has been carbon neutral for years. If you feel bad about your ------ polluting mine, buy Carbon Offsets.

#73 | Posted by sitzkrieg

Google is a company that can make green decisions. Bitcoin is not. You're relying on a bunch of lazy greedy nerds to all independently make responsible green decisions. Good luck with that.

#79 | Posted by SpeakSoftly at 2021-05-03 03:34 PM | Reply

If any life saving drugs whatsoever were used in the bag with the saline it is medical waste and can not be recycled.

#76 | Posted by sitzkrieg

It still served a real purpose and helped save someones life. So burning the carbon to make it was worthwhile. Unlike bitcoin.

#80 | Posted by SpeakSoftly at 2021-05-03 03:35 PM | Reply

What if they paid for it in bitcoin?

#81 | Posted by sitzkrieg at 2021-05-03 03:39 PM | Reply

For that matter, as a Tesla owner did you see Tesla's bitcoin offer?

Pay for your car in bitcoin, but if it depreciates, you pay the difference in cash. If it appreciates, Tesla keeps the difference.

#82 | Posted by sitzkrieg at 2021-05-03 03:41 PM | Reply

Thankfully it doesn't take a financial genius to point out the negative environmental effects of coal based civilization.

#83 | Posted by snoofy at 2021-05-03 03:56 PM | Reply

So will all the cryptocurrencies succeed? If so, shouldn't investors only get into new cryptos? And if not...why will some fail?

#84 | Posted by Danforth at 2021-05-03 04:14 PM | Reply

Sitzkrieg,

Thanks for the tutorial. I appreciate it.

#85 | Posted by Danforth at 2021-05-03 04:15 PM | Reply

#84

Maher is right about two points. One the environmental impact which is ridiculously huge. Two it's like tinkerbell, all money is based on a shared delusion the ones that will succeed are the ones that the most children believe in. Right now that's Bitcoin and ethereum next year who knows. That's the main reason why despite being a fan of crypto I'm not a major investor of crypto.

Trying to guess which one/ones will be the last one standing is a job for someone way smarter than me. Whoever does guess correctly will be wildly wealthy though.

#86 | Posted by TaoWarrior at 2021-05-03 04:37 PM | Reply

For that matter, as a Tesla owner did you see Tesla's bitcoin offer?

Pay for your car in bitcoin, but if it depreciates, you pay the difference in cash. If it appreciates, Tesla keeps the difference.

#82 | Posted by sitzkrieg

Tesla has jumped the shark. Between bitcoin, their stupid new steering wheels, and letting the car choose what gear you're supposed to be in, it seems it's all damage control for not being able to deliver self driving as promised.

I wrote to tesla threatening to sell my stock if tesla continues supporting this climate destroying currency.

#87 | Posted by SpeakSoftly at 2021-05-03 05:02 PM | Reply

"climate destroying currency"

Jesus.

#88 | Posted by snoofy at 2021-05-03 06:27 PM | Reply

"climate destroying currency"

Jesus.

#88 | Posted by snoofy

We get it. You invested in bitcoin and don't want to feel bad about it. That doesn't mean you're not supporting a currency that does more damage to the climate than any other.

#89 | Posted by SpeakSoftly at 2021-05-03 06:30 PM | Reply | Newsworthy 1

LOL no, I only wish I had invested in Bitcoin.

#90 | Posted by snoofy at 2021-05-03 06:55 PM | Reply | Newsworthy 1

LOL no, I only wish I had invested in Bitcoin.

#90 | Posted by snoofy a

Well it's not too late. If elon musk doesn't give a ---- about the future why should anyone else?

#91 | Posted by SpeakSoftly at 2021-05-03 07:03 PM | Reply

How can you say he doesn't care about the future when he sent a car into outer space for no other reason than he could?

But there is something you should understand:
It's not up to us to solve the climate crisis.
It's up to The Invisible Hand to give a ---- about the future.
That's how Capitalism works.

Hate the game, not the player.

#92 | Posted by snoofy at 2021-05-03 07:11 PM | Reply

How can you say he doesn't care about the future when he sent a car into outer space for no other reason than he could?

But there is something you should understand:
It's not up to us to solve the climate crisis.
It's up to The Invisible Hand to give a ---- about the future.
That's how Capitalism works.

Hate the game, not the player.

#92 | Posted by snoofy

Yeah it's not YOUR fault that capitalism made you start a climate roasting bitcoin farm instead of getting a real job that doesn't kill innocent children.

#93 | Posted by SpeakSoftly at 2021-05-03 07:49 PM | Reply

Calm down.
All the children I kill are guilty.

#94 | Posted by snoofy at 2021-05-03 08:04 PM | Reply | Funny: 1

"start a climate roasting bitcoin farm instead of getting a real job"

That is what I wish I had done.
Not what I wish I hadn't done.

#95 | Posted by snoofy at 2021-05-03 08:06 PM | Reply

As I understand, one of the benefits of bit coin is that no government can just print more to raise cash. If all currencies were like that, governments probably wouldn't be able to wage war to the same extent.

#96 | Posted by Snowfake at 2021-05-03 08:38 PM | Reply

#96 we waged plenty of wars when currency was backed by gold.

#97 | Posted by snoofy at 2021-05-03 08:40 PM | Reply

LOL no, I only wish I had invested in Bitcoin.

#90 | POSTED BY SNOOFY AT 2021-05-03 06:55 PM | FLAG:

Well it's not too late. If elon musk doesn't give a ---- about the future why should anyone else?

#91 | POSTED BY SPEAKSOFTLY AT 2021-05-03 07:03 PM | FLAG:

In on Dogecoin at a 4 cents! It's already at 43 cents. Follow the Dogefather's pumps to the moon!

#98 | Posted by sitzkrieg at 2021-05-03 08:45 PM | Reply

Speaks, in case you want to use node.js to mine while you're on Autopilot

github.com

So much easier to just buy some coin though.

#99 | Posted by sitzkrieg at 2021-05-03 08:55 PM | Reply

As I understand, one of the benefits of bit coin is that no government can just print more to raise cash. If all currencies were like that, governments probably wouldn't be able to wage war to the same extent.

#96 | Posted by Snowfake

No they can just start a new coin and make people use it.

#100 | Posted by SpeakSoftly at 2021-05-03 09:14 PM | Reply

And melt some more glaciers.

#101 | Posted by SpeakSoftly at 2021-05-03 09:15 PM | Reply

Why does frinkiac.com pop in my head when I read speaks posts?

#102 | Posted by TaoWarrior at 2021-05-03 09:37 PM | Reply

If you are the type of person who occasionally has to ask for a password reset, don't buy Bitcoin.

#103 | Posted by bored at 2021-05-04 12:49 AM | Reply | Newsworthy 1

The half-life of Bitcoin is about 50 years, based on the amount lost so far.

#104 | Posted by bored at 2021-05-04 12:54 AM | Reply

Bitcoin is way to bypass currency and banking regulations.

The Chinese government could destroy Bitcoin anytime it wants to.

I would not invest in a China controlled collectable.

#105 | Posted by bored at 2021-05-04 12:59 AM | Reply

Move to the Dogefather! $.43 yesterday, $.60 today. Clearly this is grounded in reality and progress and is in no way a bubble.

#106 | Posted by sitzkrieg at 2021-05-04 10:33 AM | Reply | Funny: 2

#106

LOL

I am astounded by how dumb people are are. Unlike any other crypto there is no limit to how many doge can be mined so there is no value derived from scarcity it really is just a shared delusion that gives it value. I can't imagine anyone with a brain is buying for any reason other than pure pump and dump and hoping they won't be the one left holding the bag.

#107 | Posted by TaoWarrior at 2021-05-04 11:22 AM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2021 World Readable

Drudge Retort