thimbronion: !ticker xbtusd
lekythion: Kraken XBTUSD: 32999.70000
billymg: moar crashing
thimbronion: Eth down 50% for the week
billymg: it's amusing how the joke headlines of the last few years--"bitcoin crashes to 30k!"--are now real
thimbronion: Yes I remember those
thimbronion: I've been trying to find the bear market meme based on the bear mauling scene from The Revenant. It was hilarious, but seems to be gone.
billymg has not seen
thimbronion: I think we'll have to go below 20k to never hear about NFTs again.
thimbronion: Also hoping for some defi op to explode.
whaack: NFTs? defi op?
thimbronion: Oh yeah. The intricate stupidities of this round.
whaack: I'm asking ? because idk what either of those two mean
thimbronion: People were signing jpegs cryptographically, and then selling them. This is called a Non Fungible Token.
billymg: NFTs are more or less colored coins, but on the mETH chain. they point to some URL containing a .png of "artwork"
thimbronion: Defi is where you put your "crypto" in some "smart" contract, others then buy shitcoins with it and give you "15%" interest.
billymg: thimbronion: is DeFi sort of the DAO 2.0?
billymg: i haven't bothered to look into what makes this new smart contract that much different from the one that blew up last time
whaack: ah yeah I have heard of DeFi before come to think of it
billymg: tbh didn't look much into that one either
thimbronion: I'm not even sure it's as decentralized as the DAO was. Basically smart contracts for loans.
whaack: I had the 'pleasure' of meeting a mETH huffer at a party the other day. There is some common psychology amongst the group. The conversation went like this ~ mETH - "Hey I heard you are into crypto and blockchain" "Well, I trade bitcoin specifically" "You don't have any other coins like ethereum?" "No, I'm not so interested in altcoins" "I guess you're feeling pretty bad then on missing out on the
whaack: recent price jump in ethereum?" "I wasn't aware that it went up or down." "You know you really should be open to investing in different cryptos than bitcoin....."
thimbronion: whaack: you really should be more OpEn MInDeD
whaack: The other time I recall meeting a mETH huffer I was at a dinner with someone else who kenw nothing about bitcoin or any altcoin etc. The mETH huffer was talking to the noob (who was quite nice and funny) and was explaining how he was going to a conference about smart contract or something. The "crypto noob "showed genuine interest and asked something like, "oh can you explain to me how that
whaack: works?" and the mETH huffer was like "Hm.. okay well... How can I put this so I understand?" And the crypto noob laughed and responded, ~ "when someone says that I translate it to 'how do I explain this to someone stupid?'"
whaack: "How can I put this so you* understand?"
thimbronion: There's an entire generation of them now.
thimbronion: Completely cucked and hopeless.
billymg: http://logs.nosuchlabs.com/log/alethepedia/2021-05-23#1002728 << lol, always with the socialism. "your portfolio lacks """diversity""""
snsabot: Logged on 2021-05-23 16:18:50 whaack: recent price jump in ethereum?" "I wasn't aware that it went up or down." "You know you really should be open to investing in different cryptos than bitcoin....."
whaack: I think they're trying to mimic the bitcoin "I have something great that you don't understand." without realizing that bitcoin being difficult to understand is an unwanted neccessity.
billymg: why does he care, doesn't you staying out of it mean he can buy at a cheaper price?
thimbronion: Also Monday's headlines will not be "Ethereum crashes 50% in a matter of days."