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fritterdonut



Joined: 24 Jul 2012
Posts: 1078
Location: Hedonism

PostPosted: Sat May 04, 2013 8:23 am    Post subject: Reply with quote

Arc Tempest wrote:
Another day, another bitcoin scandal.


And another: http://gawker.com/massive-bitcoin-business-partnership-devolves-into-75-487857656

And another: http://www.theverge.com/2013/4/17/4236876/bitcoin-exchange-bitfloor-shuts-doors

And another for good measure: http://motherboard.vice.com/blog/a-working-bitcoin-atm-is-in-san-diego-but-its-most-vocal-backer-is-gone

I've pulled all my money out of the exchanges and got it wired back to me. My interest in bitcoin isn't completely doused, but the infrastructure surrounding it has left me with zero confidence that anyone involved actually knows what the fuck accountability is.

It blows my mind that people can run exchanges as a legitimate licensed business, then somehow not understand that they have to conform to anti-money laundering laws, then say it's not their fault when their bank accounts get closed.

This is essentially my attitude on the matter:

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Monkey Mcdermott



Joined: 10 Jul 2006
Posts: 3152

PostPosted: Sat May 04, 2013 3:33 pm    Post subject: Reply with quote

fritterdonut wrote:
Arc Tempest wrote:
Another day, another bitcoin scandal.


And another: http://gawker.com/massive-bitcoin-business-partnership-devolves-into-75-487857656

And another: http://www.theverge.com/2013/4/17/4236876/bitcoin-exchange-bitfloor-shuts-doors

And another for good measure: http://motherboard.vice.com/blog/a-working-bitcoin-atm-is-in-san-diego-but-its-most-vocal-backer-is-gone

I've pulled all my money out of the exchanges and got it wired back to me. My interest in bitcoin isn't completely doused, but the infrastructure surrounding it has left me with zero confidence that anyone involved actually knows what the fuck accountability is.

It blows my mind that people can run exchanges as a legitimate licensed business, then somehow not understand that they have to conform to anti-money laundering laws, then say it's not their fault when their bank accounts get closed.

This is essentially my attitude on the matter:


I'd be shocked if it wasn't blatantly obvious that the whole thing is set up basically like a ponzi scheme designed for a handful of "in the know" folks to prey on stupid libertarians.
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WheelsOfConfusion



Joined: 09 Jul 2006
Posts: 11871
Location: Unknown Kaddath

PostPosted: Sat May 04, 2013 3:43 pm    Post subject: Reply with quote

It's already gotten to the point where enthusiastic amateurs can't even "mine" bitcoins profitably, even with GPUs. ASICs are pretty much the only way you can own the hardware that does the work and still do better than break-even.
This, of course, means that for at least the last year it's been more appealing to install malware and set up botnets on other people's computers and have the unsuspecting innocent bystanders "mine" for you.

It's not exactly a Ponzi scheme, but the whole thing has quickly turned into a situation where only the people who got in early and "mined" several whole bitcoins with the easy computational problems are making money off of it anymore. Them, and some of the exchanges (legit or otherwise).

Of course, from the start bitcoin has been an effective way for organized crime, weapons dealers, and human traffickers to launder money.
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fritterdonut



Joined: 24 Jul 2012
Posts: 1078
Location: Hedonism

PostPosted: Sat May 04, 2013 4:39 pm    Post subject: Reply with quote

Monkey Mcdermott wrote:
I'd be shocked if it wasn't blatantly obvious that the whole thing is set up basically like a ponzi scheme designed for a handful of "in the know" folks to prey on stupid libertarians.


It really doesn't help that a single highly-invested individual selling out can cause the market to crash, then buy back in an hour later for cheaper and pull the market back up again.

WheelsOfConfusion wrote:
It's already gotten to the point where enthusiastic amateurs can't even "mine" bitcoins profitably, even with GPUs. ASICs are pretty much the only way you can own the hardware that does the work and still do better than break-even.


^This. And ASICs are extremely expensive and a good way to get scammed out of your money.
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CTrees



Joined: 21 Jul 2006
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PostPosted: Wed May 08, 2013 1:28 am    Post subject: Reply with quote

South Carolina just voted Mark Sanford back into office. What the actual fuck.
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Thy Brilliance



Joined: 09 Jul 2006
Posts: 3440
Location: Relative

PostPosted: Wed May 08, 2013 1:43 am    Post subject: hehehehehehe Reply with quote

Arc Tempest wrote:
Another day, another bitcoin scandal.


That has got to be one of the funniest pranks I've ever seen.

A scam?

What did they get scammed out of?

Computer resources?
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WheelsOfConfusion



Joined: 09 Jul 2006
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PostPosted: Wed May 08, 2013 1:57 am    Post subject: Reply with quote

CTrees wrote:
South Carolina just voted Mark Sanford back into office. What the actual fuck.

I didn't do it.
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ShadowCell



Joined: 03 Aug 2008
Posts: 5895
Location: California

PostPosted: Wed May 08, 2013 2:03 am    Post subject: Reply with quote

mmmmmmmmmmm, tastes like family values
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Dogen



Joined: 10 Jul 2006
Posts: 10420
Location: Bellingham, WA

PostPosted: Wed May 08, 2013 2:11 am    Post subject: Reply with quote

That sucks the big D, but it's not unexpected. Too bad, too. I'd love to have a Colbert in office.
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WheelsOfConfusion



Joined: 09 Jul 2006
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PostPosted: Wed May 08, 2013 2:30 am    Post subject: Reply with quote

In less disastrous news, Adobe's Creative Suite and all constituent software (Photoshop, Illustrator, etc.) are being moved to cloud-only subscriptions instead of boxed copies.
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Arc Tempest



Joined: 28 Jan 2007
Posts: 4776
Location: Oregon

PostPosted: Wed May 08, 2013 3:13 am    Post subject: Re: hehehehehehe Reply with quote

Thy Brilliance wrote:
Arc Tempest wrote:
Another day, another bitcoin scandal.


That has got to be one of the funniest pranks I've ever seen.

A scam?

What did they get scammed out of?

Computer resources?


Scandal and scam are different words.

And you joke about it, but keep in mind that bitcoin mining not only uses all of your GPU's available processing power, but can physically damage it due to overheating.
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Samsally



Joined: 10 Jul 2006
Posts: 6070

PostPosted: Wed May 08, 2013 3:15 am    Post subject: Reply with quote

WheelsOfConfusion wrote:
In less disastrous news, Adobe's Creative Suite and all constituent software (Photoshop, Illustrator, etc.) are being moved to cloud-only subscriptions instead of boxed copies.


Less disastrous, maybe, but still pretty disastrous. Shit man, I do NOT need another monthly bill and considering I'm probably going to be using art software for the rest of my life it wouldn't actually be cheaper.
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WheelsOfConfusion



Joined: 09 Jul 2006
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PostPosted: Wed May 08, 2013 3:27 am    Post subject: Reply with quote

Yep. Your best bet is to hold onto whichever version you currently have and hope that alternatives like GIMP can catch up before computers and operating systems forget how to run yours.
Given the rather glacial pace of GIMP development, though, it might take a while.
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Michael



Joined: 09 Jul 2006
Posts: 10636

PostPosted: Wed May 08, 2013 8:22 am    Post subject: Re: hehehehehehe Reply with quote

Arc Tempest wrote:
And you joke about it, but keep in mind that bitcoin mining not only uses all of your GPU's available processing power, but can physically damage it due to overheating.


I've read this in articles about it but... what? Using your GPU could break it? Why would they build them like that?
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fritterdonut



Joined: 24 Jul 2012
Posts: 1078
Location: Hedonism

PostPosted: Wed May 08, 2013 10:29 am    Post subject: Reply with quote

BC Provincial election is coming up soon, May 14th.

The main choices for next premier are Christy "I'm going to spend taxpayer money on Liberal Party advertising" Clarkson, of the BC Liberals, and Adrian "I got fired for forging government memos" Dix, of the New Democratic Party. Conservative party is most likely going to be left in the dust.

Thank god I have an independent candidate in my riding. Looks like she (the independent) will be getting a 2nd term with a landslide victory.

God election time makes me sick.

michael wrote:
I've read this in articles about it but... what? Using your GPU could break it? Why would they build them like that?


Running your GPU at 100% usage for hours and hours on end is a real good way to shorten your GPU's lifespan. Heat buildup is a monster.
Temps of >80 Celsius if I push my HD6850 at 100% for 10 minutes. Components just aren't meant to deal with those temps for that long. Most GPU's are rated to a max of 105 C, IIRC, before you cook a chip and kill your GPU.
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