Stefan Thomas lost the paper where he wrote down the password for his IronKey, which contains the private keys to a digital wallet that holds 7,002 bitcoins.

lmao I hope he gets desperate the next time bitcoin spikes & pays some cryptology firm to 'crack' it and they wipe it by accident.

  • Liberalism [he/him,they/them]
    ·
    4 years ago

    Why are we mad at people who are into bitcoin? I know a lot of them are weirdos and chuds but it's not a bad thing in and of itself right?

    • snackage [he/him]
      ·
      4 years ago

      The crypto nets consume more power than some countries. Bitcoin in of itself is a solution looking for a problem. That is, imo no one has come up with a thing crypto would solve that isn't solved by something's else more efficiently and cheaper.

      Bitcoin in of itself is garbage.

      • Liberalism [he/him,they/them]
        ·
        4 years ago

        Oh that's true, I forgot how wasteful it is. Though that's inherited from capitalism.

        edit: When I say it's inherited from capitalism I'm not excusing it

        • snackage [he/him]
          ·
          4 years ago

          No it's not. Bitcoin is wasteful because it works by having millions of computers guessing numbers until one gets it right. This has nothing to do with capitalism.

          • Ho_Chi_Chungus [she/her]
            ·
            4 years ago

            It's because of capitalism that people are running millions of computers trying to guess a number

            • AuthorityIsBad [any]
              ·
              4 years ago

              I don't think you can blame this one on capitalism as much as the concept of money itself

            • snackage [he/him]
              ·
              4 years ago

              That's one way to look at it I guess.ninsinr know if it's very helpful in this particular instance but it's correct

              • Liberalism [he/him,they/them]
                ·
                4 years ago

                I just mean it's one of many perverse incentives created by capitalism, wasn't trying to excuse it in any way.

                • volkvulture [none/use name]
                  ·
                  4 years ago

                  BitCoin is perverse in many ways

                  knowing that Silicon Valley & "early morning grinders" have all gone fully in on obsessing over it should raise more suspicions than it quells

        • cilantrofellow [any]
          ·
          4 years ago

          The BitTorrent founder I remember was setting up a peer to peer crypto. Dunno what happened to that. It was called chia I think

    • Randomdog [he/him]
      ·
      4 years ago

      Personally I just don't like how the cult following around it are like "IT'S A WAY OF FREEING OURSELVES FROM THE MODERN ECONOMIC SYSTEM AND TAKING BACK POWER FROM THE BANKERS AND BIG CORPS" because like.... I mean.... Communism...

      Idk, just some "almost getting it but slightly missing the point" shit. I don't like it.

      • volkvulture [none/use name]
        ·
        4 years ago

        in my opinion I think that BitCoin is ultimately an NSA/CIA psyop that is boosting Western "speculation" & obsession with the market while simultaneously undermining & digitizing & recording international crime syndicates' movements & transactions. All this while coalescing a honeypot of weirdos whose fortunes are riding speculative spurts & fits in the "Line"

        BitCoin is also anti-communist because of its tacit underlying technology being a way to thwart regimes of state-backed currencies

        This is why China has banned BitCoin banking or facilitation by banks, without outlawing the currency itself.