somethingawful Attack of the 50 Foot Blockchain

SomethingAwful Goon unintentionally explains how underpriced Bitcoin is.

SomethingAwful Goon unintentionally explains how underpriced Bitcoin is. submitted by Throwawayinthehouse to Bitcoin [link] [comments]

Sorry to be not hip; but this article on somethingawful makes more sense to me than all the bitcoin hype. The pog-like metaphor in the illustration seems particularly apt.

submitted by txstoploss to [link] [comments]

10-02 23:29 - 'Blah blah blah. / I'm tired of this game so I'll show my hand and be done with all of you. / Firstly, I've been redditing for a _very long fucking time_. / And beyond that, I've been on hundreds of active online forums si...' by /u/Crippling_D removed from /r/worldnews within 38-48min

Blah blah blah.
I'm tired of this game so I'll show my hand and be done with all of you.
Firstly, I've been redditing for a very long fucking time.
And beyond that, I've been on hundreds of active online forums since before the World Wide Web had pictures. Usenet groups, somethingawful, albinoblacksheep, digg, myspace, fark, most of the chans including 2ch, countless other small niche tech and geek boards.
Not only that but I have a data analysis hobby, mostly written text. My first ever actual program was a random story generator that used functions to pull from dictionaries and (try to) create a coherent plot (it didn't work very well).
I've always been fascinated with the texture, pacing, word choice, intent, subtext, and nuance of human written communication.
So these hobbies and passions have suited me very well in identifying suspicious posts, and have done so for literal decades. I mean, the tactics and subjects that trolls use are always changing, but the same spirit drives all of those tiny little cheetoh stained fingers as they furiously pound out insults to me from their basement lairs.
It's said you can get an idea of the emotional state of an artist by seeing how it influenced their art, and they're right.
Pretty much any act of human creation is always stamped with a bit of its creator's soul, and people with wise enough eyes can see the signs of each mental tick and twitch.
Writing on the internet is no different.
No matter how hard someone tries to hide their inner mental state, word choice, pacing, texture, and nuance always reveal a bit more than the writer ever intended.
So using my instincts, I crafted many scraper bots and semiotic matrices to make sense of the vast amount of content that gets posted to the forums I frequent.
First started doing this during my bitcoin phase, when I was speculating on that one russian exchange. I scraped trollbox and fed it through a very basic sentiment algorithm, and used that to cautiously make a little money predicting pump and dumps.
I have to tell you that experience was a solid education in identifying illegitimate posts, as literally my income depended on it.
I used it over at Digg and predicted the gamification of the front page by 2 months.
I've been using those skills here on reddit too, and oh man I can't even tell you how much it's opened my eyes!!
Especially in the last 6 years, such a shift in dynamics, it's been very enjoyable to learn and taking that experience to refine my algorithms.
I've developed 8 axes of identification that are rather reliable at recognizing suspicious posts, especially ones originating from sources where english isn't their first language.
I shared 3 of them back in 2016 on several reddit subs, in relation to the uptick of troll posts starting the year before.
Funny enough, most of the troll farms back then immediately started crafting accounts specifically to avoid those 3 revealing metrics, which is why I'm not going to detail the other 5 I've developed.
It's true, that not all of the 30+ comments I've gotten in this thread are sockpuppets or trolls, but the vast majority of them are.
And most of them bear the stamp of an American speaker being paid to promote a russian dictator, and most of them are all using the same reply pattern to try and browbeat me into worshiping that false-flagging trump buggerer.
Again, you can change username, buy an aged account, even run your words through google translate a few times, but there's always telltale indicators. The position of verbs in the sentence, how plural groupings are handled, misplaced honorifics and most blatantly just using the same sentence with one or two words changed to produce the illusion of a larger coherent opposition.
All red flags to me, all giving me some clue into the mindset of the writer.
It's fascinating how much you can learn just by reading carefully.
I don't care if you don't think I'm on-point, I've been validated in my own experience far too often to have my method cast into doubt by some aged account no karma internet rando like yourself.
I don't care if you think I look bad for the same reason.
I don't care if you (or anyone) thinks I'm stupid or childish, what I do works and it works better than most propaganda filtering systems I've looked into.
And I'm not going to stop calling out inauthentic accounts, I will not stop refining my system and expanding its scope.
And literally no words typed into the internet by some stranger will ever change that.
Good day sir.
Context Link
Go1dfish undelete link
unreddit undelete link
Author: Crippling_D
submitted by removalbot to removalbot [link] [comments]

To end the goons

The time to end the goonswarm has come. No longer will we allow them to grow fat on their lands and post on their somethingawfuls message boards. We must unite the space clans and strike while the iron is hot or as my mum would say "strike while the iron is hot". My dad used to tell me "son, fuck goons" and I agree. If we allow the goonswarms to stay as they are- countless billions of bitcoin will be lost, this cannot be happen. I propose the following solution to goon:
  1. fuck goons. Because fuck goons.
  2. Tell them "no" because it is illegal to be bad in game
  3. post a lot on reddit- because they get their power from internet power. Less internet power going to goons means less bitcoin.
  4. I forgot what 4 is but probably something to do with eve, the politics game with space graphics.
If we strive to do these things i am sortof confident it will work and force goons to play other games like animal crossing because if they cannot farm in piece they will be sad and try other farming games did you no that goons don't like it when people destroy their farming characters? Goon will shout "NO" and cry and be sad- nMaybe this will end the goons forever if we destroy their characters. I remember in 2005 when the goons started they were weak flying frigates. BoB had the right idea to smash the goon early before they got too big- But they didnt strike while the iron was hot and goons got too big. So the morale of the story is dont let goons get too big. but dont let this post alone drive you to victory. Think of past events. Remember the good time and great deeds- Like the time The Undertaker threw Mankind off Hell In A Cell, and plummeted 16 ft through an announcer's table.
Be sure to sign my petition to end goons.
submitted by Cpt_Soban to Eve [link] [comments]

Thoughts on the ratio, the future & the path forward

Disclaimer: I'm an online rando, not a licensed financial advisor. DYODD.
In light of recent angst about the BTC/ETH ratio & choppy price action, perhaps the following will be useful to ground your thinking about what Ethereum represents, its path to success & how you personally might approach it.
I grew up in Eastern Europe. My family was relatively well off: after the Iron Curtain fell in 1989, my father got a Fulbright scholarship at Stanford. He returned with dollars and, more importantly, American connections.
He constantly talked about how the future was going to be defined by the Internet.
I was a kid. Whatever "the Internet" was supposed to be, I was way more interested in playing Spectre and messing around with ClarisWorks on the PowerBook 100 my dad had brought back. In my defense: I was 6 & English isn't my first language.
My dad turned out to be right. But through the 90s & beyond, the Internet didn't always seem to be what the future will be built on.
A casual look @ how long it took the web to reach maturity:
1980 through 1990: Invention, experimentation & backbone. MUDs & BBSs dominated. In 1990, a version of HTML that can be approximately called "usable" becomes available.
1990 through 1994: Early adoption, basic protocols & functionality. The first real web browser, Mosaic, launches. Significant web presence from universities, research institutions and large media entities or businesses. "Online for dummies" portals like AOL, Compuserve & Prodigy become common-place. Bryant Gumbel's infamous "What is Internet, anyway" moment turns out to be a seminal point of inflection for popular perception of web use & the utility of being online.
1994 through 1998: Consolidation, increased adoption, commercialization, disruption. Home & workplace use, ISPs & online purchases all show exponential growth. People joke around water coolers about using AOL trial CDs as coasters. Netscape makes web browsing more intuitive & integrates protocols (http, ftp, gopher, usenet, smtp/pop) into a single program. "You've got mail" segues from niche nerd activity into pop culture phenom. Edge technologies like peer-to-peer sharing become existential threats to decade-old business models, with significant legal and political implications. Online presence becomes mandatory for most businesses. Future giants like Google, Amazon & Ebay/PayPal explore & expand new ways of monetizing online space.
1998 through 2003: Commoditization, boom & bust cycle. Large proliferation of risky or poorly thought-out ventures, violent subsequent contraction. happens a thousand times over. Teens begin to tune into early social media: Friendster, Hotornot, Myspace, Xanga. Popular culture becomes permeated by all things Internet, with signs of exhaustion due to overexposure. Through peaks & valleys, Fortune 100 players, old & new, scramble to firm up their respective beach-heads into cyberspace, praise be upon our once & future prophet, William Gibson.
2003 through 2007: Ubiquity. Internet is now an inextricable part of the desktop experience. Venture capital is in a perpetual arms race to fund "Web 2.0," a more accessible, secure & well-integrated way of experiencing online activity. Network advantages displace also-rans, with Google, Amazon and Facebook increasingly dominating "mind-share." Internationally, online conglomerates graduate into billion-dollar businesses. New business models crop up online. YouTube, 4chan and SomethingAwful are part of growing up for millions of teens.
2007 through present: Ubiquity, cubed. Internet becomes hyper-accessible & necessary to key aspects of contemporary life. Major parts of law, medicine, finance and governance are now highly dependent on online activity. With smart phones available for price points below $30, a significant majority of human beings on the planet can interact with the most powerful & immediate way of accessing information we've ever built on a mass scale. Content consumption and creation explodes. Instant messaging, video-conferencing, geo-location sevices & flexible payment models become trivial aspects of every-day life.
That's three decades for the Internet & its main interface, the web, to reach maturity.
Blockchain was initially parameterized in 1991. Bitcoin began in 2008. Ethereum was proposed in 2013.
If we compare blockchain in general & Ethereum in particular to the development and eventual domination of the Internet, we're barely making headway through the second phase: early adoption, basic protocols & functionality. There's disruption & early commercialization, especially with defi & supply chains, but wide-spread adoption & killer "Keep It Simple, Stupid" apps akin to Netscape aren't here yet.
Took a while to get here, but here's my first basic point:
It's very, very early on in the journey.
In some ways, blockchain & Ethereum are like the Internet in that they represent radical new technologies.
In some ways, blockchain & Ethereum are unlike the Internet.
Thin protocols like http, ftp, email, etc, simply move data around. Value is captured by entities which acquire data: Google, Amazon, Ebay, Microsoft, Facebook, Twitter.
Fat protocols like any variety of blockchains both move data around AND store it. Value is captured in the protocol itself.
My second basic point:
Based on objective data such as network use and development activity, Ethereum is the run-away front-runner when it comes to public, un-permissioned blockchains.
We're firmly in the "overestimating early adoption/change" phase of blockchain & cyrpto-currency. Multiple projects in the top 25 by marketcap metric are of dubious technical & financial value. Some exchanges engage in market-distorting practices. Fraudulent "personalities" in the space still command significant attention. There is material risk to involvement in the early stages of any venture, blockchain & Ethereum included.
But: The flip to "overestimating early adoption/change" is "underestimating long term adoption/change."
If my first two points are accurate, then 2019 is to crypto what 1994 was to the Internet, and we can barely imagine the degree to which the world will run on blockchain in 2029.
If you're reading this, you're part of the 0.001% smart or lucky enough to understand what future is being built on, the same way that my father knew how the Internet will shape these last three decades.
You have a one-in-a-lifetime opportunity. Things like the BTC/ETH ratio & 20% fiat valuation drops represent trivial noise in a broader landscape defined by tectonic realignments in technology, finance and politics.
In conclusion, I'd like to encourage everybody to consider:
  • What scale are you thinking on?
  • What timeline are you thinking on?
  • Are you aiming for something life-changing or not?
I know what my answers are.
Good luck & god speed, brothers & sisters.
submitted by thrw2534122019 to ethtrader [link] [comments]

Something Awful schadenfreude update #3. They've been making fun of Bitcoin since it was $0.25. Their $10 forum membership fee would be worth ~$28,000 if they had invested it instead of giving it to Lowtax.

GG on litecoin miners executing successful 51% attacks against dogecoin.
submitted by lowtax_fucks_feet to Bitcoin [link] [comments]

Fellow shills, we have another fan-subreddit: "r/Buttmoney". This is a great day for Buttcoin.

submitted by CaptainParanoia to Buttcoin [link] [comments]

Does proof of stake turn into proof of work anyway?

So over on a terrible SA thread on why you should totally run a firetrap mining rig, ardent cynical buttcoiner QuarkJets brought up this blog post from 2015:
tl;dr all PoS turns into PoW anyway, because if you can affect your chances of mining minting coins at all with applied resources, you will spend up to $50 in resources to make $50 of coins - for the same reason the cost of mining $50 in PoW approaches $50.
i.e., even if the wasted resources aren't as glaringly obvious as they are in PoW, that much resources are still gonna be wasted as long as there's slight advantage - no matter how you slice it, no matter what fancy bells and whistles you put on how resources can be visibly spent.
The paper is a bit ravingly Bitcoin maximalist and econ 101 (the same logic is used to assert that you shouldn't limit spending on political advertising), but the key point strikes me as worth thinking about.
Note this applies even if all coins are pre-minted and the miners forgers are paid only transaction fees.
The only PoS that wouldn't turn into a PoW by stealth would be if it were actually impossible (or at least unfeasible) to apply resources to get the chance to write the next block. And that rapidly becomes the let's-take-turns consensus models common in permissioned blockchains.
To address the only coin with any real interest that's considering PoS, I couldn't see where the Ethereum PoS FAQ addresses this, but perhaps I missed it:
So have I missed something startlingly obvious? QuarkJets mentioned this had been known for years, though a paper or two would be good.
submitted by dgerard to Buttcoin [link] [comments]

As a relatively new redditor, can someone tell me what the deal is with

Why do they have an ongoing hatred toward reddit? SA: Reddit is pretty great. Post insightful reddit posts here.
Thousands of posts and contributing users, and the content just seems like a lot of misdirected hate. So what gives?
Edit: cut to the chase
submitted by OhSeven to [link] [comments]

What's going on with Butterfly Labs?

I've been avidly following the somethingawful haters thread since yesterday, for my amusement, but also to genuinely get some variation in what I hear about Bitcoins. It actually seems that they are following developments closer than many on this subreddit, just for different reasons.
One of the things that has been coming up a lot today is a new development in the delayed Butterfly Labs ASICs, posts about problems with their ground plane. Is anyone bought in? Anyone have any news about what's going on with them?
Edit: Posts referenced:
submitted by Bear_Sheba to Bitcoin [link] [comments]

You've probably heard a lot of reasons why Bitcoin is 'revolutionary'. Here's why it's stupid.

From here:
A Bitcoin FAQ for GBS
-Short version-
1) Should I buy bitcoins?
2) But if they drop down to a dollar, then I can snap some up and
No. You are one of thousands of people who want to do this. Telling the thread that you are going to do this doesn't make you look smart.
3) How does this shit work? It doesn't make any sense!
No, it really doesn't. It's impossible to explain bitcoin in anything less than tl;dr terms so you should probably just not worry about it. Go do something useful instead of reading this awful thread full of socially inept people laughing at another group of socially inept people.
-Long version-
1) I really want to understand how bitcoin works. Please.
Okay, you asked for it. With some severe simplifications and a painfully neutral pov:
Bitcoin is a decentralized "cryptocurrency". It is a network of software that shares a common protocol designed to allow secure transfer of bitcoins between users. It uses distributed cryptography to verify transfers and balances.
Bitcoin is also the subculture that has sprung up around this software, which includes additional software that is not part of the core design. The most high-profile of these are trading services that allow users to buy and sell bitcoins using US dollars and other real-world currencies.
Bitcoins users have files called "wallets". This is sort of a misnomer, because these wallets do not actually contain anything except a cryptographic private key. One's bitcoin balance is actually recorded inside the distributed network, which is why you cannot edit your wallet file to give yourself more bitcoins. Bitcoins can be added to a particular balance using a public bitcoin address, which acts as a cryptographic public key. The private key is contained in the wallet, and bitcoins cannot be transferred out of a balance without that private key.
(If you don't understand public-key cryptography, do some reading because you can't understand bitcoin without it. While you're at it, read up on cryptographic hash functions.)
Transfers between wallets are recorded in "blocks", which are verified by the distributed cryptography system. The act of verifying transactions and then adding those transactions to the historical "blockchain" is called "mining". Transactions are stored in the blockchain using cryptographic hashing methods which allow the entire blockchain to be independently verified for consistency and integrity. In order to make blockchain verification an attractive prospect, the design of bitcoin gives "bitcoin miners" two reasons to tie up their computing hardware to maintain the network, both based around competition.
The first reason is that bitcoin transfers can contain optional transaction fees which are paid to the miner that verifies the transaction. Paying a transaction fee makes it more likely that your transaction will be processed in a timely manner, because those transactions are more attractive to the miners.
The second reason is that mining gives the miner a chance of receiving a batch of newly created bitcoins. The more cryptographic power one brings to bear, the more likely it is that the next batch of new bitcoins will be yours. There are a fixed number of bitcoins which can ever be mined, and the difficulty of the cryptography will continue to increase over time.
An important aspect of mining is that the network is designed to handle one complete block (containing a specific number of transactions) every ten minutes. If more computing power is added to the distributed network, making the blocks take less time to process, the difficulty of the cryptography increases. The inverse is also true. This scaling difficulty is meant to help prevent a single user or group of users from gaining complete control over the network by using more computational power.
The distributed verification process determines the "truth" of a transaction block by whether or not the majority of the network (as measured by contributed cryptographic work) considers it valid. The original designer thought it unlikely that any one user or organization could acquire a majority of the network's cryptographic power and therefore "cheat" the system in some way.
Bitcoin verification power is typically measured in the speed at which a system can perform cryptographic hashes, which are required to verify the blockchain and to add transactions to it. The difficulty of the mining process is determined by the amount of "hashing" required to add a new block to the chain.
These are the core aspects of the original bitcoin design. In short, bitcoins are assigned to "wallet" addresses, with balances stored in a distributed "blockchain". The accuracy of the blockchain is verified by "miners", who have a vested interest in doing so through a reward system. Attacks (such as double-spending) are prevented by the distributed nature of the network, where any invalid transactions will be caught by other mining systems.
2) That was painful to read.
It was painful to write.
3) So what went wrong?
A lot of things, some of which are due to problems with the original design, and others which are due to problems with the bitcoin community.
Bitcoin was originally a proof-of-concept project by an anonymous crypto specialist who used the pseudonym "Satoshi Nakamoto". It is unlikely that he was actually Japanese, but his identity still remains a mystery. Bitcoin was meant to be a testing ground for theories about how cryptocurrencies might work. Initially, bitcoin was a curiosity and there was little participation in the network, as bitcoins had no real-world worth.
This all changed as bitcoin was discovered by three types of people. First, there were the internet libertarian types who liked the idea of a currency that was not controlled by a government. For them, bitcoin represented an ideology. Second, there were people who wanted to use bitcoin as a semi-anonymous international currency for illegal transactions, such as drugs, weapons, or illicit pornography, as well as a possible method for laundering money. For them, bitcoin represented safety from the law. Third, there were people who viewed bitcoin as a method to get rich by getting in on the ground floor of a new kind of money. These people saw bitcoin as an investment.
The history of bitcoin is too complicated to go into detail here, but these three groups shaped the bitcoin network and community into what it is today, which is a gigantic goddamn mess of idiocy, greed, and bad decisions.
4) What happened to the neutral pov?
I'm tired.
5) Well, then where is bitcoin right now?
Right now, the bitcoin community has been overwhelmed by the use of bitcoin as, essentially, a commodity to be bought and sold. Individual bitcoiners may talk about the future of bitcoin as a currency, but the vast majority of bitcoin transactions today are the buying and selling of bitcoins themselves using real-world money, and not the buying of goods or services using bitcoins. There is an extremely limited number of things you can spend bitcoins on without first converting them to dollars (or whatever), and many of those are done through third-party bitcoin-to-dollars systems where the merchant never sees any bitcoins.
Bitcoins are purchased and sold much like other commodities such as gold, petroleum, and the like. Exchange services are set up, where people who wish to buy the commodity put forth "buy orders", where they offer to buy a certain amount of the commodity at a given price, and these buy orders are matched with "sell orders" put in by people who wish to sell that commodity.
There are several bitcoin exchanges that let one buy and sell bitcoins using dollars and other currencies, but the most important one is "mtgox". Amusingly, Mtgox started life as "Magic: The Gathering Online eXchange", an exchange service for virtual Magic: The Gathering cards.
When someone says "bitcoin is at $50" or something similar, usually they mean that the most recent buy order on mtgox was for $50 a bitcoin.
The market prices for bitcoin have historically tended to rapidly inflate and then crash spectacularly. Bitcoin's market value has dropped by 50% in less than a day on multiple occasions.
Regardless, true believers in bitcoin (typically the libertarians or the investors, who are sometimes one and the same) keep throwing more money at the speculative market, in the hopes that one day their currency will be treated with respect by the world, or at least they'll eventually make up for their losses. Neither scenario is likely.
6) Why is this funny?
Because we're children who like laughing at dumb people, and bitcoin people are a truly spectacular level of stupid.
7) So could bitcoin ever be a real currency?
No, for one simple reason. Bitcoin does not scale. The network is already creaking under the weight of relatively few transactions, and more importantly, the blockchain size is increasing rapidly. The blockchain file is currently several gigabytes in size, and the entire chain must be downloaded in order to mine or verify your own transactions. You can use a third-party service to store and transfer your bitcoins, but these services have historically tended to get hacked or just suddenly vanish, taking all your internet funny-money with it.
If bitcoin actually became popular as a currency and not just as a speculative commodity, the network would rapidly become even more unusably slow than it already is, and the blockchain would swell to an absurd and unmanageable size.
8) Some people seem legitimately angry about bitcoin.
Bitcoin would appear to be a mostly harmless way for idiots to throw money at each other, except for the fact that bitcoin mining has (not surprisingly) become an arms race to see who can get the most hashing power online.
The original design of bitcoin did not account for the possibility of specialized, expensive hardware which could make mining without that hardware almost useless. Certain kinds of ATI Radeon video cards proved so effective at performing bitcoin hashing that mining solely on a general-purpose PC CPU gives negligible results, due to the vastly increased hashing difficulty. Miners purchased huge amounts of these video cards to create custom (and often hilarous) "mining rigs", essentially converting electricity into heat and bitcoins.
The stakes have been raised again with the advent of specialized bitcoin-only ASIC hardware which is even more effective than the video cards were. The future of bitcoin mining appears to be in the hands of a small minority of users who can afford this specialized equipment, making the "distributed" nature of bitcoin something of a joke.
The bitcoin network now must use vast amounts of power, far out of proportion to its actual usefulness and typically generated by fossil fuel plants, just to maintain itself. It is a tremendous waste of actual real-world resources that could be better used on something important (like, for example, watching cat videos) and this makes some people actually angry at the situation.
9) Wait, what about this "BFL" thing, and who's "Atlas"? What the hell are you people talking about?
Look at all these fucking words I've already written. God, what a waste of effort.
tldr: why don't you go buy beanie babies or a wayne gretzky rookie card instead?
submitted by bob_rennie to vancouver [link] [comments]

Today in Bitcoin (2017-09-13) - Bitcoin $3900 - China FUDs Hard - Mainstream Media Freakout YouTube Drinking The Coom of 1,200 Gushers - YouTube garf I Got My License. Finally

(BCH notes cribbed from junan_paalla on the SomethingAwful Bitcoin thread.) Simple Assurance of Future Trouble. SEC v. Telegram progresses sensibly — Judge Kevin Castel has denied Telegram’s request to narrow the injunction to block only US release of Gram tokens. Castel said the injunction applied worldwide, and worldwide it shall apply ... Tags: bis, civil, colorado sun, denver post, eos, links, ponzico, saifedean ammous, somethingawful, the bitcoin standard; And I am now a waddling duck on SomethingAwful. [Read more …] Share this: Click to share on Twitter (Opens in new window) Click to share on Facebook (Opens in new window) On June 11th, 2011, the call went out to Reddit:. So I guess we're the enemy of Bitcoins and we must be destroyed. By DDoS or hacking. Fees for attacking our servers to be paid in peer-to-peer currency. On June 11th, 2011, the call went out to Reddit:. So I guess we're the enemy of Bitcoins and we must be destroyed. By DDoS or hacking. Fees for attacking our servers to be paid in peer-to-peer currency. MtGox, the largest exchange of bitcoin to real money, has just effectively vanished, taking over 750,000 bitcoins along with it. It's not clear where they went, but they've probably been stolen. If you're not sure what bitcoin is, imagine for one second a currency that creates scarcity based on loser do-nothings leaving their computers on all ...

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Today in Bitcoin (2017-09-13) - Bitcoin $3900 - China FUDs Hard - Mainstream Media Freakout

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