Tuesday, April 23, 2013

I hope anonymous made some serious cash from this



When I woke up to see this, I thought Google had made an error. But it turns out a moment of panic originating from a false tweet "briefly wiped out about $140 billion in U.S. market value," causing  every major stock to plunge for about 5 minutes. 

I can't help but feel that the stock market is only as smart as its stupidest Twitter user. 

3 comments:

Huge Larry said...

I hear that nanite futures is the up and coming commodity these days.

cyrusfx said...

I think we need to take David Deutsch hostage and make him build a quantum computer that can perform intense bitcoin mining operations.

I don't really understand how bitcoin is "mined," but its a pretty interesting concept.

http://en.wikipedia.org/wiki/Bitcoin_mining#Distribution

Taint Montgomery said...

Miners mine coins by producing the blockchain, the distributed, global public ledger of all bitcoin transactions. When a new block is added to the chain, the creator is rewarded 25BTC (used to be 50). The mining for bitcoins is a byprocess of the processing of the bitcoin transactions. There is a misconception that the mining is 'useless work' and a waste of resources.

I've been watching the bitcoin saga for some years now. I'm waiting for that big plunge so I can get in for around $1-10/BTC. But that might not happen so better settle for that $40/BTC opportunity if it comes up.

The shittiest thing about bitcoin is the whole security thing. If you lose your wallet data, your done. If someone steals your data, your done. So you gotta be clean with that biz, keep an array of wallets for different uses; more frequently used wallet are less secure and hold less, less frequently used ones hold more and are more secure.