* * *     Freethought Forum Thread  * * *

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Thread : Blockchain, NFTs, and Web 3.0
Started at 01-10-2022 01:00 PM by viscousmemories
Visit at https://www.freethought-forum.com/forum/showthread.php?t=30317
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[Post 1]
Author : viscousmemories
Date : 01-10-2022 01:00 PM
Thread Title : Blockchain, NFTs, and Web 3.0

There has been some discussion of blockchain, NFTs and "Web 3.0" in Bitcoin thrad (https://www.freethought-forum.com/forum/showthread.php?t=28151) and Bits and PCs - a Computers and Tech Miscellany (https://www.freethought-forum.com/forum/showthread.php?t=29828), but I think it's time we had a thread dedicated to these things. Not because I have anything intelligent or even interesting to say about them, but because I want to learn more about why it's all dangerous nonsense but I don't know who to trust for techocriticism anymore. I've always found cryptocurrency interesting but not enough to get into it, and I now view it as straight up gambling (with worse odds than casinos) that has a massively negative impact on the climate. NFTs just strike me as mind-bogglingly stupid, and what the hell even is "Web 3.0"?

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[Post 2]
Author : Ari
Date : 01-10-2022 04:08 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Crypto seems like many other ideologies in that when written down in a nice little box it sounds amazing, but the real world isn’t a nice little box, despite that, the humans so pleased with themselves for inventing it, now bash it against everything in hope something will stick.

On the most basic level bitcoin is a system designed for people who trust no one, and defeated by people trusting others. A ledger system where criminals can trade money, away from banks/governments while being forced to stay truthful in the transactions sounds great. But how will people easily trade large amounts, or switch to other currencies? I know, Bitcoin exchanges!

Mt.Gox Bitcoin heist 2014, 740,000 bitcoins are stolen, 650,000 never recovered. At the time that was around $400 million. Those 650,000 coins are worth around $26 billion in todays prices.

The History of the Mt Gox Hack: Bitcoin's Biggest Heist (https://blockonomi.com/mt-gox-hack/)

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[Post 3]
Author : fragment
Date : 01-10-2022 09:17 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">all of my professional service providers keep asking me about crypto because they keep hearing about it and they know I&#39;m a tech person and I&#39;m like &quot;look. if this were ever going to be a viable ANYTHING, porn studios would have embraced it 5 minutes after it showed up&quot;</p>&mdash; rahaeli (@rahaeli) <a href="https://twitter.com/rahaeli/status/1480371442881470466?ref_src=twsrc%5Etfw">January 10, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 4]
Author : Kamilah Hauptmann
Date : 01-11-2022 03:44 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The Associated Press is starting its own NFT marketplace for photojournalism - The Verge (https://www.theverge.com/2022/1/10/22876993/associated-press-ap-nft-marketplace-xooa-blockchain-photo-journalism-funding)

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[Post 5]
Author : viscousmemories
Date : 01-11-2022 12:27 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Thanks for that link, very interesting. It led me to this very thorough explanation of NFTs (https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq) which it turns out I didn't fully understand hadn't previously fully understood. I now realize NFTs are similar to virtual accessories people like myself may or may not have bought with real money in iPhone games or Second Life once upon a time, except more likely to be unique. At least that's what I think I learned from that article. Still off-putting, but not as completely absurd as I thought. 

Still appalled by the ecological impact of the current blockchain technologies though.

The [proof of work] process is incredibly energy inefficient on purpose. The idea is that using up inordinate amounts of electricity &#8212; and probably paying a lot for it &#8212; makes it less profitable for someone to muck up the ledger. As a result, Ethereum uses about as much electricity as the entire country of Libya. -source (https://www.theverge.com/2021/3/15/22328203/nft-cryptoart-ethereum-blockchain-climate-change) 

Supposedly Ethereum is working on a more energy efficient algorithm but I got bored going down that rabbit hole.

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[Post 6]
Author : Ari
Date : 01-11-2022 04:30 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

the FAQ says these particular images will &#8220;have increased scarcity to preserve their status.
This effectively sums up NFTs.

The digital revolution removed scarcity as a reason for paying more for an image, basically dumping the price of still digital images into the gutter as there&#8217;s no investment in owning a digital image. For awhile the art world was pushing &#8220;Giclee prints&#8221; as the definitive collectors item, but it&#8217;s both still a physical item and as screens get better, possible not the optimal way to display images in the first place. So there&#8217;s been a scramble to figure out how to artificially create scarcity in a way everyone agrees upon to keep &#8216;art market as a form of investment&#8217; alive.

As much as I think they&#8217;re dumb, they&#8217;ve been an interesting capitalistic robinhood, with people who unexpectedly became internet famous, getting some money for their fame. If you or a loved one has been included in an internet meme, you may be entitled to compensation&#8230; and should absolutely sell the meme as an NFT before the hype fizzles.

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[Post 7]
Author : Stephen Maturin
Date : 01-21-2022 11:21 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

But what about Matt Damon saying that fortune favors the bold on those teevee commercials? So, what, these guys (https://www.theverge.com/2022/1/20/22892958/crypto-com-exchange-hack-bitcoin-ethereum-security) are the "bold," as opposed to those mighty Galtian cryptocurrency investors?

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[Post 8]
Author : Kamilah Hauptmann
Date : 01-22-2022 11:12 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="und" dir="ltr"><a href="https://t.co/QagYm9TiYu">https://t.co/QagYm9TiYu</a></p>&mdash; Mike (@MikeHoyer3) <a href="https://twitter.com/MikeHoyer3/status/1484223605915463685?ref_src=twsrc%5Etfw">January 20, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 9]
Author : JoeP
Date : 01-22-2022 02:41 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://i.imgur.com/WmRHI7L.jpg

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[Post 10]
Author : Ari
Date : 01-24-2022 04:26 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Yes this is over 2 hours long, but having listened to it, I’d say it’s worth it. Spoiler, He is not a fan.

The Problem With NFTs - YouTube

It’s interesting just how similarly he describes the targets for NFT’s and the conspiracy Qanon minded, only difference is they are more middle class with some disposable cash.

But I’m also reminded of the video game I like to play, PUBG:Mobile, a completely free to play game with zero pay to win elements which sells only cosmetics that is also one of the highest grossing mobile games in the world, easily bringing in over $100 million every month in profit. 

They do so by being a combination of legal gambling and wealth flaunting. It’s been both fascinating and a bit depressing to watch. The Mcclarren event was crazy as it was essentially people dropping $4,000 so that in game when they get into a specific kind of car, it transforms into a Mcclarren sports car. Additionally in the pre-game lobby a crate falls from the sky to show that someone in your game had the cash to buy a Mcclarren (skin) but that’s it, it drives and blows up just the same as anything else. It looks cool… I guess… but otherwise is literally a giant “I spent 4k on this game, no big deal!” sign, and it went absolutely crazy!

Similarly it seems like there are no new scams under the sun, just new variations on old ones. Often the new variation just means finding an unregulated market. There was another way to get the Mcclarren, to gamble and win big on a spin. The gambling side of the game is pretty heavily separated from the free to play side, you must pay to gamble. Er do I mean gamble, I mean spend in-game money on in-game items with flashy lights, but without all those pesky regulatory committees and age limitations.

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[Post 11]
Author : fragment
Date : 01-25-2022 06:08 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Similarly it seems like there are no new scams under the sun, just new variations on old ones. Often the new variation just means finding an unregulated market
qft

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[Post 12]
Author : slimshady2357
Date : 01-25-2022 08:44 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I minted my first NFT, AMA

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[Post 13]
Author : JoeP
Date : 01-25-2022 10:34 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Was it of :lolhog:

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[Post 14]
Author : slimshady2357
Date : 01-25-2022 11:04 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Was it of :lolhog:

No, but I would snap that up as soon as it was on the market :capitalistpig:

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[Post 15]
Author : BrotherMan
Date : 01-25-2022 05:52 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:piginablanket:

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[Post 16]
Author : specious_reasons
Date : 01-25-2022 06:53 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The video Ari posted was very good. I had happened to watch it around the same time.

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[Post 17]
Author : viscousmemories
Date : 01-26-2022 10:08 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Um...

12342

Damn, I took that photo just over 10 years ago. :eek:

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[Post 18]
Author : viscousmemories
Date : 01-27-2022 11:31 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

NFTs Are, Quite Simply, Bullshit (https://jacobinmag.com/2022/01/nfts-fallon-paris-hilton-bored-ape-digital-imagery-commodification)
In a word, NFTs are bullshit. And, like most forms of bullshit in America — think WeWork, the Fyre Festival, or any number of other venture capital-hatched disruption rackets — they’ve come packaged in a phony populist language of community and an even phonier rhetoric of innovation.

Like cryptocurrency, it’s hard to make a case for their actual use value and, like the very dumbest Silicon Valley startups and multilevel marketing scams, they’re best understood as speculative investments in which a privileged few can wring money from something of no redeeming social benefit. 
...
Events of recent years have been the best occasion in decades to reimagine the fundamentals of American society and transform the economy into something other than a handful of hedge funds and tech monopolies sitting on top of each other inside a trench coat. Instead, the country’s bipartisan ruling class opted to greet mass death with a dollop of inadequate and temporary social protections while its criminally undertaxed ultrarich were left to seek out novel ways of profiting from their own money and new totems of their elite status.

Nothing has been more symbolic of this trajectory than NFTs, the latest symptom of a decadent and increasingly post-democratic consensus resting on little more than predatory rent-seeking and boundless commodification.

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[Post 19]
Author : Ensign Steve
Date : 01-27-2022 07:05 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Yes this is over 2 hours long, but having listened to it, I’d say it’s worth it. Spoiler, He is not a fan.

Me 15 minutes ago: 2 hours? :gah: Who has the time?

Me now: I am 15 minutes into this thing and not one second has not been compelling. :stunned: Everybody needs to watch this.

:popcorn:

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[Post 20]
Author : Kamilah Hauptmann
Date : 01-27-2022 07:19 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Yes this is over 2 hours long, but having listened to it, I’d say it’s worth it. Spoiler, He is not a fan.

Me 15 minutes ago: 2 hours? :gah: Who has the time?

Me now: I am 15 minutes into this thing and not one second has not been compelling. :stunned: Everybody needs to watch this.

:popcorn:

140 character summary pls.

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[Post 21]
Author : Ensign Steve
Date : 01-27-2022 07:30 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The intersection of finance and crypto, fields rife with confident assholes who think they can solve all the problems but make things worse.

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[Post 22]
Author : Kamilah Hauptmann
Date : 01-27-2022 08:20 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:oscarwin::thanked::victory::winner::trophy:

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[Post 23]
Author : viscousmemories
Date : 01-28-2022 11:43 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Ok I finally watched it last night and yeah, extremely informative. I confess I slept through the last 30 minutes or so but all the rest was very interesting!

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[Post 24]
Author : fragment
Date : 01-29-2022 02:53 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That's a good channel, also recommend the flat earth video.

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[Post 25]
Author : Ari
Date : 01-29-2022 05:08 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

140 character summary pls.

Disco Stu - If these trends continue... - YouTube

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[Post 26]
Author : Ari
Date : 01-29-2022 03:07 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Crypto, it’s where con artists go to convince bleeding-heart-libertarians they were unfairly banned from the financial system and should have a second chance at running their scams.

 The co-founder of DeFi protocol Wonderland was revealed to be a convicted fraudster who previously co-founded the notorious QuadrigaCX exchange.

Patryn, who changed his legal name twice, was the co-founder of QuadrigaCX, a Canadian exchange that shut down after Patryn's partner Gerald Cotten suddenly died in India in 2018 while owing users around $190 million in crypto at the time’s exchange rate. Patryn and Cotten reportedly parted ways in 2016. Later, investigators determined that Cotten was operating QuadrigaCX as a Ponzi scheme near the end of its life.

@danielesesta
“1/ Today allegations about our team member @0xSifu [Patryn] will circulate. I want everyone to know that I was aware of this and decided that the past of an individual doesn’t determine their future. I choose to value the time we spent together without knowing his past more than anything.

2/ Many people in the world are judged by their early mistakes, this comes prevalent into the life of ex inmates that can’t get access to financial services after being felons.”
Crypto Co-Founder Revealed to Be Infamous Fraudster, Investors Shaken:Vice (https://www.vice.com/en/article/epxakz/crypto-co-founder-revealed-to-be-infamous-fraudster-investors-shaken)

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[Post 27]
Author : JoeP
Date : 01-29-2022 05:18 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Here's a moral question for you.

Does the obvious moral delinquency of lolbertarians outweigh the obvious moral delinquency of being a con artist?

Or, to put it another way, is there a clearly moral way to take money from idiots who so clearly need their money taking?

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[Post 28]
Author : Kamilah Hauptmann
Date : 01-31-2022 10:24 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">If you could own color on the blockchain&#8212;and earn royalties from it each time an NFT that uses those colors trades, which colors would you mint? This is what we&#39;re going to make possible at the upcoming <a href="https://twitter.com/colordotmuseum?ref_src=twsrc%5Etfw">@colordotmuseum</a> NFT market.</p>&mdash; Omar Farooq (@curator1of1) <a href="https://twitter.com/curator1of1/status/1487364584516239369?ref_src=twsrc%5Etfw">January 29, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Wat

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[Post 29]
Author : specious_reasons
Date : 01-31-2022 03:35 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Let me check my Pantone catalog for which color I'd like.

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[Post 30]
Author : BrotherMan
Date : 01-31-2022 03:51 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

It's like the stock market. Only worse.

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[Post 31]
Author : Ensign Steve
Date : 01-31-2022 06:14 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Okay so I watched that whole video, and the entire thing is terrifying from beginning to end, but here is my biggest takeaway from the whole thing:

The stupid ugly monkey image isn't even part of the NFT? It's just a link to the image?! He talks about "link rot" which is a very real thing, and a problem even in the free (as in free beer) web.  If I'm spending large amounts of dollars on a token which points to a URL, I want to fucking know, who owns the server of the URL?  Who is responsible for making sure it doesn't move or change or go away?

What the fuck? How stupid are these people?  Am I missing something?

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[Post 32]
Author : JoeP
Date : 01-31-2022 06:32 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

What the fuck? 
Yes.

How stupid are these people?  
Yes.

Am I missing something?
Probably not.

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[Post 33]
Author : Ari
Date : 01-31-2022 06:39 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I&#8217;m not really awake so this could be wrong but from a bit of searching it would appear that the data block size of an Ethereum token is 32 bytes.

While there appears to be a linking system that allows you to store gigabytes of data, it&#8217;s done in 32 byte chunks and each chunk has gas fees attached. So images *could* be stored on the chain but the fees to process them would be astronomical.

Yes, they are paying for a link to an image and hoping everyone will agree that that means the image that was at that link when they paid is also &#8216;theirs&#8217;.

Which really hits home some of the self-selecting aspects. Some of this is meant to be dumb to weed out those who ask questions and sow negative thoughts instead of getting in the lambo rocket to the moon!

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[Post 34]
Author : Ensign Steve
Date : 01-31-2022 07:40 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm just spit-balling here, but maybe a 32-byte hash of the image? I'm even wiling to give the benefit of the doubt that people much smarter than I more knowledgeable about this topic have already figured out why that won't work. But that benefit does not extend to anybody that suggests a URL as a viable alternative. I'm going to need to see a white paper or something at a minimum.

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[Post 35]
Author : fragment
Date : 01-31-2022 11:28 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Using a DOI would make more sense than a URL, do any NFTs at least do that?

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[Post 36]
Author : specious_reasons
Date : 01-31-2022 11:53 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm just spit-balling here, but maybe a 32-byte hash of the image? I'm even wiling to give the benefit of the doubt that people much smarter than I more knowledgeable about this topic have already figured out why that won't work. But that benefit does not extend to anybody that suggests a URL as a viable alternative. I'm going to need to see a white paper or something at a minimum.

I expect there's a hash that can be put into a URL, like boredapeyachtclub.com/ape/<hash>/, and that's how you access your NFT image. 

So, that might just be a 32-byte hash of the image, or something semi-related, or not at all.  

The blockchain is supposed to be freely available and can be read with the right tools, but I can't be bothered to research it.

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[Post 37]
Author : Ensign Steve
Date : 02-01-2022 12:02 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Using a DOI would make more sense than a URL, do any NFTs at least do that?

According to the video and this thread (which combined make up 100% of what I know about it) you can have any data that fits in 32-bytes, and a URL is just one example of what people use.  He also mentioned something that I think was a four-letter acronym beginning with the letter I?  ISSP?  Something like that, I don't remember, but it's supposed to be slightly more robust because it's distributed more like a torrent. So as long as someone still has it, it's good, even if the original gets taken down. Even that's still not 100% reliable, of course, but I'm still gagging at the thought that anyone at all would spend actual money on a token that just refers to a regular web link.

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[Post 38]
Author : BrotherMan
Date : 02-01-2022 05:05 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I am terribly simplifying it, but as close as I can get is: The image you see is, uh, like a receipt. It's not the item itself, it is a copyable proof of purchase of some other virtual item that was actually paid for. Except your monkey picture is not nearly as useful as a receipt.

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[Post 39]
Author : Kamilah Hauptmann
Date : 02-01-2022 11:57 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The best part is watching Reddit accounts (which can be traced) give each other terrible tax advice which amounts to fraud.<br><br>People who have never had money before are discovering capital gains taxes and calling them unfair and it&#39;s *hilarious.*</p>&mdash; The Call is Coming from Inside the Nash (@Nash076) <a href="https://twitter.com/Nash076/status/1488364268567281664?ref_src=twsrc%5Etfw">February 1, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I mean, even if you&#39;re speculating on currency exchange rates on REAL currency - dollars, pounds, euros - and make a profit, *you still get taxed for that.*<br><br>Even I know that shit!</p>&mdash; The Call is Coming from Inside the Nash (@Nash076) <a href="https://twitter.com/Nash076/status/1488364981456416769?ref_src=twsrc%5Etfw">February 1, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 40]
Author : Ari
Date : 02-09-2022 03:29 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

If the criminals are jumping ship, should we be worried?
At the time of the 2016 hack Bitcoins highest price was 40x lower than today. Had the money been laundered soon after the hack they might have disapeared into the night, but after letting them sit, they got greedy, saw the literal billions they were sitting on and had to try to pull it out before the crash.

 Ilya Lichtenstein and his wife Heather Morgan conspired to launder the proceeds of nearly 120,000 stolen bitcoin, according to court documents cited by the DOJ, which were transferred to a digital wallet controlled by Lichtenstein. Since the initial hack, roughly 25,000 bitcoin have been transferred out of that wallet and laundered through a complex series of transactions, with the resulting funds deposited into conventional accounts owned by Lichtenstein and Morgan.

The scheme went off the rails in January, though, after federal agents were able to access and decrypt a file stored in Lichtenstein's cloud storage account that provided a list of more than 2,000 virtual currency addresses and keys. Further analysis confirmed that nearly all of the addresses were directly linked to the hack; more than 94,000 bitcoin were subsequently seized. The bitcoin was valued at more than $3.6 billion at the time of seizure, making it the largest financial recoveryin DOJ history. 

Blockchain hustler and cringey rapper charged with laundering $4.5B in stolen bitcoin | PC Gamer (https://www.pcgamer.com/a-blockchain-hustler-and-a-cringey-rapper-have-been-charged-with-laundering-dollar45b-in-stolen-bitcoin/)
If that wasn&#8217;t criminal enough, Morgan went around convincing old white CEOs they should rap to be hip.

https://cdn.mos.cms.futurecdn.net/FsPQBCSwJPDwqMQynMjzXa-1024-80.jpg

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[Post 41]
Author : fragment
Date : 02-09-2022 06:16 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That Razzlekhan vid is certainly a thing that exists.

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[Post 42]
Author : Stormlight
Date : 02-09-2022 01:25 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That Razzlekhan vid is certainly a thing that exists.

That is one of the worst things that ever happened. :twitch:

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[Post 43]
Author : specious_reasons
Date : 02-09-2022 07:02 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That Razzlekhan vid is certainly a thing that exists.

That is one of the worst things that ever happened. :twitch:

Wow - just wow. Terrible people are just so very confident. 

Considering that Bitcoin's records are public and traceable, why did they think that "laundering" through a series of BTC transactions would make it safe to cash out into accounts with their names on it?

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[Post 44]
Author : JoeP
Date : 02-09-2022 07:04 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Could it possibly be that essential ingredient of libertarians and right-wingers, wishful thinking?

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[Post 45]
Author : Kamilah Hauptmann
Date : 02-09-2022 08:25 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Could it possibly be that essential ingredient of libertarians and right-wingers, wishful thinking?

i hAvE An iMmUnE SyStEm

Not entirely fair, tech nerds are often trusting of the science and collaborative work.

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[Post 46]
Author : ShottleBop
Date : 02-10-2022 03:29 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Mr. WhoseTheBoss expresses his doubts in less than 20 minutes:  NFTs Explained - The BIG Problem. - YouTube (https://www.youtube.com/watch?v=0pWTRsztTtY)

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[Post 47]
Author : slimshady2357
Date : 02-10-2022 09:04 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That Razzlekhan vid is certainly a thing that exists.

That is one of the worst things that ever happened. :twitch:

Wow - just wow. Terrible people are just so very confident. 

Considering that Bitcoin's records are public and traceable, why did they think that "laundering" through a series of BTC transactions would make it safe to cash out into accounts with their names on it?

I haven't read the article, so I have no idea how they tried to launder the BTC. But there are ways to do it. There are decentralized exchanges where you can deposit BTC without providing any ID. Then you could use the BTC to buy one of the cryptocurrencies that do provide anonymity in transactions, like Monero (https://en.wikipedia.org/wiki/Monero) and then send to another exchange, transfer back to BTC and withdraw to a brand new wallet.

I'm no expert, so maybe such things are also traceable somehow. I expect they did something stupid along the way.

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[Post 48]
Author : fragment
Date : 02-10-2022 09:48 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That video is pretty good evidence that doing something stupid is fully in character.

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[Post 49]
Author : viscousmemories
Date : 02-10-2022 01:23 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Mr. WhoseTheBoss expresses his doubts in less than 20 minutes:  NFTs Explained - The BIG Problem. - YouTube (https://www.youtube.com/watch?v=0pWTRsztTtY)

I was totally expecting Tony Danza.

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[Post 50]
Author : Ari
Date : 02-10-2022 11:54 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I haven't read the article, so I have no idea how they tried to launder the BTC. But there are ways to do it.
I haven’t read any complex details but it does appear they tried to wash it around and the investigators traced some back as it doesn’t appear they tried to launder it once out of the crypto and just dumped to their own accounts, but what got them was they found and decrypted a file on cloud storage that linked a ton of addresses they were watching to them. 

So it really sounds like they put their scheme into a document and uploaded it to the cloud assuming whatever encryption they were using was unbreakable.

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[Post 51]
Author : Kamilah Hauptmann
Date : 02-14-2022 07:05 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Just going to drop this parallel thread here. There&#8217;s really a whole lot of different angles as to how this is a hilariously dumb thing. <a href="https://t.co/cBWe2gtDIp">https://t.co/cBWe2gtDIp</a></p>&mdash; Damion Schubert, Zen Designer (@ZenOfDesign) <a href="https://twitter.com/ZenOfDesign/status/1492998847538380802?ref_src=twsrc%5Etfw">February 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 52]
Author : JoeP
Date : 02-14-2022 09:11 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Kam, your sigline is
Peering from the top of Mount Stupid
but I think it should be
Peeing from the top of Mount Stupid

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[Post 53]
Author : Kamilah Hauptmann
Date : 02-14-2022 09:31 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:pisswrld:

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[Post 54]
Author : viscousmemories
Date : 02-14-2022 12:54 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I watched the Superbowl yesterday and 

1) The commercials sucked. Hard. All of them.

2) About half of those commercials were crypto related

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[Post 55]
Author : Ari
Date : 02-14-2022 07:07 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

To every generation is born, an entitled group of douches who believe everyone elses work is theirs to do with as they like.

The reality is that individual cards are unpredictable investments at best, and many lose value.
Ok ok ok it&#8217;s a wild idea I know, but just hear me out, what if the main goal of the game was to collect and keep cards like stocks in future decks? Revolutionary I know.

&#8220;Players will need to get used to the idea that the vast majority of players will never play with (or against!) those popular cards that we often see when playing existing formats. This idea is the primary strength of this format. Scarcity for additional copies will incentive players to dig deep into less popular cards to find new synergies and create a vibrant meta.&#8221;
This is such a fundamental misunderstanding of how a card game meta functions it&#8217;s either deliberate or we are looking at people who have never been good at this game, never really understood it, nor do they have any game design experience and want to morph the game into something they do understand. 

(At the very basic turn based card games rely on the action economy. If you do bigger or more stuff on your turn, keeping your opponent reacting to you, you will often win. Some cards just do more for you each turn and no amount of trying different combinations of lesser cards will amount to the same consistency.)

This essentially puts a cap on the number of people who could possibly have a top competitive deck. Creating classes of players all fighting within those classes. I presume their final goal is to create deck owning whales who have all the required cards to be competitive, loaning them out to players of their choice, at a price or large cut of the winnings.

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[Post 56]
Author : specious_reasons
Date : 02-14-2022 07:18 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I was casually watching the last half of the game while eating dinner, and I was bemused at some of the crypto commercials.  

There was one that felt like a fever dream, A guys asks a question about crypto on social media, and that question is "liked" by a cloud of floating people and CG things. The cloud finds him and an attractive lady pulls him up to float with them.  More people discover this floating cloud and "like" the original guy's question.

...but is his question answered?  Well, it's "answered" non-diegetically but in the world of the commercial, it's not, and everyone's happy?  It was fucking insane.

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[Post 57]
Author : Crumb
Date : 02-17-2022 03:12 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

A timeline of failures Web3 is going just great (http://web3isgoinggreat.com/)

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[Post 58]
Author : specious_reasons
Date : 02-17-2022 06:34 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

You know, I generally consider myself a decent coder, and I strive to write bug-free, correct code, but "code is law" scares me shitless.  

I would say that even the features I am most proud of has edge cases that a user produced an undesirable outcome simply by using the software is ways I didn't anticipate.

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[Post 59]
Author : viscousmemories
Date : 02-22-2022 02:05 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Interesting article about the idea of a Central Bank Digital Currency (CBDC) and the attempt on the part of big Goldman Sachs to prevent it happening.

The Big-Money Battle Over Crypto’s Public Option (https://www.dailyposter.com/the-big-money-battle-over-cryptos-public-option/)

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[Post 60]
Author : Ensign Steve
Date : 02-22-2022 09:31 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

You know, I generally consider myself a decent coder, and I strive to write bug-free, correct code, but "code is law" scares me shitless.

But why?

https://static.wikia.nocookie.net/explaining-errors-in-star-trek/images/7/75/Atasteofarmageddonhd809.jpg

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[Post 61]
Author : Ari
Date : 02-28-2022 08:33 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

In what feels like standard fare when talking about NFTs these days.
$70 Million Later, Pixelmon&#8217;s Founder Calls Artwork Reveal Horrible Mistake - Decrypt (https://decrypt.co/93964/70-million-pixelmon-founder-calls-artwork-reveal-horrible-mistake)

Pixelmon, a game what says what if pokemon but in the currently popular minecraft &#8216;voxel&#8217; style and everything was an NFT. Raised $70 million and released what turned out to be a bunch of modified asset flips from the Unity Store, rendered using a voxel filter. Creator Syber (with an S) swears this isn&#8217;t a rug pull and promises they will use that $70m on building a game, and not lambo rockets to the moon.

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[Post 62]
Author : Ensign Steve
Date : 02-28-2022 08:46 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Believe it or not, a lot of crypto/bitcoin type companies are courting me during my job search.  Despite not having a finance background, I'm still fairly qualified in this field, with experience in both cryptography and general-purpose GPU computing (i.e., using graphics cards for applications other than graphics (https://www.investopedia.com/tech/gpu-cryptocurrency-mining/)).

It turns out even I have a line (all evidence in my resume to the contrary), but I'm entertaining these solicitations and giving them a laughably high salary requirement.  The idea is they presumably can afford it, what with being the giant scam that it is, and I can leverage any offers from them into less laughably high but still high offers from other companies that I could actually stomach working for.

Wish me luck!

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[Post 63]
Author : viscousmemories
Date : 02-28-2022 09:29 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Last week I had a conversation with a woman who is employed as a creative writer with the goal of creating short stories to promote DAOs. She seems like a very kind, thoughtful, intelligent, and compassionate person who truly believes that DAOs are the secret to changing the world for the better, and she is all in on it (even joking? that she is a cult member). I read a very long piece she wrote and came away thinking maybe DAOs really can change the world for the better, but not really understanding them any better.

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[Post 64]
Author : Crumb
Date : 03-01-2022 02:55 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://64.media.tumblr.com/c0b6f28a94ddf0406c312f1367f79fa3/3d8e28e41cb84d51-7f/s1280x1920/14d68a20349001813ef959306cc51c01120f4a55.jpg

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[Post 65]
Author : Ari
Date : 03-06-2022 01:46 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Did you think &#8220;I want to listen to Dan Olson talk for another hour about NFTs and crypto&#8221; after that Folding Idea&#8217;s video? Well have no fear! (There&#8217;s nothing ground shattering, and I wouldn&#8217;t say this is required listening, but still interesting enough.)
An Honest Conversation On The Problem With NFTs & Cryptocurrency, with @Folding Ideas - YouTube

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[Post 66]
Author : Ensign Steve
Date : 03-11-2022 08:56 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Presented without comment (though I did read it):

Executive Order on Ensuring Responsible Development of Digital Assets | The White House (https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/)

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[Post 67]
Author : viscousmemories
Date : 03-12-2022 02:15 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I tried to read that but my brain shut off about 1/3 of the way in. So then I looked for an explainer on YouTube and tried about 1 minute each of two different crypto bros talking about it an my brain literally melted. So anyway.

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[Post 68]
Author : Kamilah Hauptmann
Date : 03-17-2022 06:26 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">My god. <a href="https://t.co/y8uruq3BvB">pic.twitter.com/y8uruq3BvB</a></p>&mdash; mike (@mikeinspace) <a href="https://twitter.com/mikeinspace/status/1503754795848450061?ref_src=twsrc%5Etfw">March 15, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 69]
Author : Zehava
Date : 03-17-2022 11:37 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">My god. <a href="https://t.co/y8uruq3BvB">pic.twitter.com/y8uruq3BvB</a></p>&mdash; mike (@mikeinspace) <a href="https://twitter.com/mikeinspace/status/1503754795848450061?ref_src=twsrc%5Etfw">March 15, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

:facepalm:

Basic logic fail. Two wrongs = right

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[Post 70]
Author : Kamilah Hauptmann
Date : 03-19-2022 04:58 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

We should ask Pan if this means NFT stands for Non-Floral Tulips:

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Tweets like this just show how much ignorance there is around NFTs. You aren&#39;t actually buying nothing. You are buying a *reference* to nothing. If you are going to criticize something at least get it right. <a href="https://t.co/dmqU9it858">https://t.co/dmqU9it858</a></p>&mdash; Existential Comics (@existentialcoms) <a href="https://twitter.com/existentialcoms/status/1504973296856535044?ref_src=twsrc%5Etfw">March 19, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 71]
Author : Kamilah Hauptmann
Date : 03-19-2022 07:37 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I went to <a href="https://twitter.com/hashtag/SXSW?src=hash&amp;ref_src=twsrc%5Etfw">#SXSW</a> for a week and saw things you wouldn&#39;t believe. Humanoid rabbits minted as 3D NFTs. I watched people struggle to explain the purpose of the NFT project they were observing. All those moments will be lost in time, like tears in rain (i hope) <a href="https://t.co/LY5jTS6OQG">https://t.co/LY5jTS6OQG</a></p>&mdash; Edward Ongweso Jr (@bigblackjacobin) <a href="https://twitter.com/bigblackjacobin/status/1504909376947171331?ref_src=twsrc%5Etfw">March 18, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 72]
Author : Ensign Steve
Date : 03-23-2022 01:27 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm having fun on my job search. Most of the cryptocurrency-type jobs I ignore, unless I feel like there might be a little something there that would at least make it a legit job (secret criteria that exist only in my brain).

My favorite part is when we get to the "Do you have any questions for me?" part of the call. "Yes, can you please explain how this is a sustainable business model?" :popcorn:

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[Post 73]
Author : Kamilah Hauptmann
Date : 03-23-2022 01:34 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

My favorite part is when we get to the "Do you have any questions for me?" part of the call. "Yes, can you please explain how this is a sustainable business model?" :popcorn:

https://i.gyazo.com/5136641c0ce38ae465f0cab0b7ef2c4d.gif

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[Post 74]
Author : fragment
Date : 03-23-2022 03:27 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm having fun on my job search. Most of the cryptocurrency-type jobs I ignore, unless I feel like there might be a little something there that would at least make it a legit job (secret criteria that exist only in my brain).

My favorite part is when we get to the "Do you have any questions for me?" part of the call. "Yes, can you please explain how this is a sustainable business model?" :popcorn:
Given the reported frequency of scam & mlm stuff in crypto I'd ask for some guarantees around actually getting paid.

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[Post 75]
Author : Pan Narrans
Date : 03-23-2022 09:33 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Given the reported frequency of scam & mlm stuff in crypto I'd ask for some guarantees around actually getting paid.

In real money, not crypto shit.

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[Post 76]
Author : Ensign Steve
Date : 03-24-2022 06:54 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Krugerrands or gtfo.

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[Post 77]
Author : viscousmemories
Date : 03-24-2022 04:59 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I only know what a Krugerrand is because of an 80's cop show. Was it Lethal Weapon or Beverly Hills Cop? Oh yeah, it was definitely Lethal Weapon (2 or 3?) because I remember Danny Glover going into the S. African embassy to distract them with his blackness while Mel Gibson had a look around.

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[Post 78]
Author : BrotherMan
Date : 03-24-2022 05:02 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

But, but... you're blick.

Diplomatic immunity!

(It was Lethal Weapon 2.)

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[Post 79]
Author : JoeP
Date : 03-24-2022 11:31 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

L'Arme Fatale Deux (I must have visited France at some point the year it was out). 

Notable for the atrocious South African accents of Patsy Kensit and Joss Ackland, but ag shame they tried.

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[Post 80]
Author : Kamilah Hauptmann
Date : 03-25-2022 04:35 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">smart ovens on the block chain are gonna rule. will take 10 hours just to verify you&#39;re allowed to start it up. <a href="https://t.co/V7tyo9cRqb">https://t.co/V7tyo9cRqb</a></p>&mdash; Internet of Shit (@internetofshit) <a href="https://twitter.com/internetofshit/status/1506733827581915137?ref_src=twsrc%5Etfw">March 23, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 81]
Author : JoeP
Date : 03-25-2022 10:15 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

OK guys I'm kicking off Web4. Web4us, that is. No incoming links allowed. All governance carried out in secret forums. It will run on social credit in the form of [thanks]. Who's in? Just kidding, you don't get a choice.

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[Post 82]
Author : viscousmemories
Date : 03-25-2022 12:48 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Sam's guest on Wednesday was Jacob Silverman, staff writer at The New Republic and co-author of the upcoming Easy Money. (Good overview from Silverman in this Twitter thread. (https://mobile.twitter.com/SilvermanJacob/status/1497943302468943877))

Golden Age Of Crypto Scams w/ Jacob Silverman - MR Live | 3/23/22 - YouTube

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[Post 83]
Author : Ari
Date : 03-26-2022 12:39 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

If you rug pull investors to the tune of $1.1m, don’t admit it’s a rug pull. If you admit it’s a rug pull don’t suddenly pop up again with the same rug pull under a new name and if you ignore all of this, by god don’t link your coinbase account to a credit card you used your own personal ID to sign up for!

Two men arrested for $1.1 million NFT rug pull scam - The Verge (https://www.theverge.com/2022/3/24/22995107/us-arrest-charges-crypto-nft-rug-pull-frosties-ethan-nguyen-andre-llacuna)

 But among other details, investigators matched Nguyen and Llacuna’s Discord account data (including Nguyen’s IP address and Llacuna’s email address and phone number) with corresponding accounts on the Coinbase cryptocurrency exchange. The Coinbase accounts were linked with a Citibank credit card and government ID that let law enforcement track the pair down. Investigators also traced a series of transfers through which Nguyen and Llacuna allegedly tried to obscure where they were sending the Frosties funds, leading to the money laundering accusations.

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[Post 84]
Author : Stephen Maturin
Date : 03-29-2022 01:07 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Krugerrands or gtfo.

Damn right. No Dunning-Krugerrands allowed!

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[Post 85]
Author : JoeP
Date : 03-29-2022 08:50 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Dunning-Krugerrands claim to be worth more than they actually are.

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[Post 86]
Author : ceptimus
Date : 03-30-2022 10:47 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://www.bbc.co.uk/news/technology-60933174

Another big hack (theft) of cryptocurrency due to sloppy security by the guys administering it.  $600m this time lost by Ronin Network.

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[Post 87]
Author : JoeP
Date : 03-31-2022 09:52 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Such a shame for people who want to escape government oversight but naturally expect government oversight.

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[Post 88]
Author : Kamilah Hauptmann
Date : 03-31-2022 04:55 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Such a shame for people who want to escape government oversight but naturally expect government oversight.

Crypto moves fast, tiny-brain:
https://64.media.tumblr.com/c0b6f28a94ddf0406c312f1367f79fa3/3d8e28e41cb84d51-7f/s1280x1920/14d68a20349001813ef959306cc51c01120f4a55.jpg

Try to keep up. :D

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[Post 89]
Author : Ari
Date : 04-05-2022 06:16 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Officially Licensed Formula 1 'Ethereum NFT Game' Shuts Down (https://kotaku.com/f1-formula-1-one-delta-time-nft-crypto-cursed-shut-down-1848748953)
 Games shut down all the time, but what&#8217;s notable about this one is that it was at one point a pretty big deal, at least in this cursed space! Example: the most expensive NFT sold in all of 2019 was a car for this game, which went for over $100,000. Add a combination of the official F1 license and a promised ability for players to &#8220;play to earn&#8221;, and you had an early test case for how NFT-powered games could work.
March 14th: 
The Future of NFT gaming is here! Don&#8217;t wait to get in early on the officially licensed Formula 1 NFT game, build cars, race them around the world, profit!

March 15th: 
&#8220;It is with deep regret that we announce that F1® Delta Time will cease operations on 16 March 2022. Whilst we have not been able to renew our license, we will ensure that current owners of F1® Delta Time assets are rewarded for their loyalty and support.&#8221;

March 16th: 
Game Over, man, Game Over!

I watched the demo video on Kotaku so you don&#8217;t have too.

Loot box gambling! 
Just to accidentally prove the point as to just how effective the lootbox randomized card pack style gambling is, the guy making the demo couldn&#8217;t wait to open the &#8216;keys&#8217; he spent $600usd in tokens on on camera, and opened them before he started recording. You gain ways to up your car&#8217;s stats from these keys, so you can min-max for different courses.Once everything is configured it&#8217;s off to the races and, oh, this is just minimal effort needed to show their game requires skills and thus doesn&#8217;t fall into a game of chance. Up arrow is gas, shift is brake, space is boost. Hit the up arrow to go, when coming into a corner arrows will be red, reduce speed or break till they are green. Hit space when over a boost. There is no steering, or on track opponents. 

That&#8217;s it, that&#8217;s the whole game.

It&#8217;s worth noting this isn&#8217;t just another rug pull, this is the best NFT gaming has at the moment, these are the true believers and the company will be covering their ass by allowing assets to be transferred to their generic Hot-wheels game, that&#8217;s basically the same but lacking any prestige.

The True meta:
 In 2021 the two most valuable virtual car transactions ever recorded occurred one day apart and were both - you guessed it - for F1® Delta Time cars.
There were many other remarkable milestones in the three-year history of F1® Delta Time, but enough retrospective for now. We are deeply grateful to our community for having supported this innovative and groundbreaking blockchain project, and we will make sure that you do not leave the racetrack empty-handed.

https://revvmotorsport.medium.com/f1-delta-time-to-cease-operations-announces-rewards-for-supporters-2fbf307fe89f
For many true believers, this is the real game that&#8217;s being played, they want to be first to something, to be highest on some record board of top achievements in crypto.

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[Post 90]
Author : JoeP
Date : 04-05-2022 09:07 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

+1 :thanked: for Game Over, man, Game Over!

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[Post 91]
Author : Ari
Date : 04-13-2022 03:55 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

This was an interesting read, partly related to how perceived anonymity leads people to make dumb and easy traceable mistakes. Also content warning for suicide and child abuse.

Inside the Bitcoin Bust That Took Down the Web’s Biggest Child Abuse Site | WIRED (https://www.wired.com/story/tracers-in-the-dark-welcome-to-video-crypto-anonymity-myth/)
If not for cryptocurrency, in other words, and the years-long trap set by its purported untraceability, the majority of the 337 pedophiles arrested in the Welcome to Video case—and their rescued victims—likely never would have been found.

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[Post 92]
Author : Kamilah Hauptmann
Date : 04-14-2022 03:10 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Each :thanked: can double as LOL

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">NFT collector gets $280 top bid for the Jack Dorsey tweet NFT he bought for $2.9 million last year<br><br>April 13, 2022<a href="https://t.co/V6otoywLe4">https://t.co/V6otoywLe4</a> <a href="https://t.co/xkqDeY9sH5">pic.twitter.com/xkqDeY9sH5</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1514350099480006661?ref_src=twsrc%5Etfw">April 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 93]
Author : Ari
Date : 04-14-2022 04:44 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I would like to introduce everyone to my new NFT project, the Tiny Violin Club.

:violin:

Each NFT is a different link to the same FF smiley and I don’t need to tell you how rare and valuable a link to FF is!

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[Post 94]
Author : Kamilah Hauptmann
Date : 04-14-2022 04:49 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Rare, you say?

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Co-founder and primary artist for Starcatchers NFT project uses insider knowledge to buy the project&#39;s rare NFTs to flip after reveal<br><br>February 26, 2022<a href="https://t.co/kGlrGsU7G5">https://t.co/kGlrGsU7G5</a> <a href="https://t.co/meax9IlSKN">pic.twitter.com/meax9IlSKN</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1511548395705487363?ref_src=twsrc%5Etfw">April 6, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 95]
Author : Kamilah Hauptmann
Date : 04-19-2022 08:26 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://i.gyazo.com/5ae0bcbd3f19e03984078f3127a5add4.jpg

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[Post 96]
Author : Kamilah Hauptmann
Date : 04-23-2022 11:30 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">AkuDreams NFT project earns $34 million that its team will never be able to withdraw<br><br>April 22, 2022<a href="https://t.co/i5JdmO3RPL">https://t.co/i5JdmO3RPL</a> <a href="https://t.co/OOMLBDibuM">pic.twitter.com/OOMLBDibuM</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1517889873390284802?ref_src=twsrc%5Etfw">April 23, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 97]
Author : Kamilah Hauptmann
Date : 04-25-2022 11:41 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Sick of people calling everything in crypto a Ponzi scheme. Some crypto projects are pump and dump schemes, while others are pyramid schemes. Others are just standard issue fraud. Others are just middlemen skimming of the top. Stop glossing over the diversity in the industry.</p>&mdash; Pat Dennis (@patdennis) <a href="https://twitter.com/patdennis/status/1518637225789042688?ref_src=twsrc%5Etfw">April 25, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 98]
Author : Kamilah Hauptmann
Date : 05-10-2022 04:49 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">The way this is structured means that if the price of your NFT drops below the initial price, *it can't be sold*. So if you spent £100, and it's now £99, you can't sell it and only lose £1. You're committed to hanging on to it until it goes up - if it never does, you've lost £100</p>&mdash; Luke Bailey (@imbadatlife) <a href="https://twitter.com/imbadatlife/status/1523990780305723393?ref_src=twsrc%5Etfw">May 10, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 99]
Author : Kamilah Hauptmann
Date : 05-12-2022 05:54 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="und" dir="ltr"><a href="https://t.co/7LNa3ekmpd">pic.twitter.com/7LNa3ekmpd</a></p>&mdash; Crypto Bros Taking Ls (@CoinersTakingLs) <a href="https://twitter.com/CoinersTakingLs/status/1524372366431690752?ref_src=twsrc%5Etfw">May 11, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 100]
Author : Kamilah Hauptmann
Date : 05-13-2022 10:38 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">My retirement apes!!! <a href="https://t.co/6jRmSaWNi8">pic.twitter.com/6jRmSaWNi8</a></p>&mdash; Natalie Wynn (@ContraPoints) <a href="https://twitter.com/ContraPoints/status/1524871509646401553?ref_src=twsrc%5Etfw">May 12, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 101]
Author : Kamilah Hauptmann
Date : 05-17-2022 09:51 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Thrad best read to the tune of Yakkity Sax:

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">American running &quot;untraceable&quot; service &quot;designed to evade US sanctions&quot; is charged after being traced<br><br>May 16, 2022<a href="https://t.co/6bi6Btchd9">https://t.co/6bi6Btchd9</a> <a href="https://t.co/agU6Rw9pIx">pic.twitter.com/agU6Rw9pIx</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1526378035599101952?ref_src=twsrc%5Etfw">May 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 102]
Author : fragment
Date : 05-17-2022 10:25 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

So was cryptocurrency a giant honeypot all this time?

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[Post 103]
Author : Kamilah Hauptmann
Date : 05-18-2022 01:47 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I wrote about a bitcoin mining trend that isn&#39;t getting nearly enough attention.<br><br>Bitcoin miners/fossil fuel companies&#8212;they are increasingly one &amp; the same&#8212;are buying portable generators, hauling in server farms in shipping containers &amp; mining bitcoin right at the wellheads</p>&mdash; Jessica McKenzie (@jessimckenzi) <a href="https://twitter.com/jessimckenzi/status/1526573090196574214?ref_src=twsrc%5Etfw">May 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

thrad

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[Post 104]
Author : Kamilah Hauptmann
Date : 05-18-2022 10:00 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Seth Green still exists:

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Well frens it happened to me. Got phished and had 4NFT stolen. <a href="https://twitter.com/BoredApeYC?ref_src=twsrc%5Etfw">@BoredApeYC</a> <a href="https://twitter.com/opensea?ref_src=twsrc%5Etfw">@opensea</a> <a href="https://twitter.com/doodles?ref_src=twsrc%5Etfw">@doodles</a> <a href="https://twitter.com/yugalabs?ref_src=twsrc%5Etfw">@yugalabs</a> please don&#8217;t buy or trade these while I work to resolve:<a href="https://twitter.com/DarkWing84?ref_src=twsrc%5Etfw">@DarkWing84</a> looks like you bought my stolen ape- hit me up so we can fix it <a href="https://t.co/VL1OVnd44m">pic.twitter.com/VL1OVnd44m</a></p>&mdash; Seth Green (@SethGreen) <a href="https://twitter.com/SethGreen/status/1526588358859759617?ref_src=twsrc%5Etfw">May 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 105]
Author : JoeP
Date : 05-18-2022 10:36 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

So was cryptocurrency a giant honeypot all this time?

If honeypots contributed to global warming, yes.

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[Post 106]
Author : Crumb
Date : 05-18-2022 07:03 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I wrote about a bitcoin mining trend that isn't getting nearly enough attention.<br><br>Bitcoin miners/fossil fuel companies—they are increasingly one &amp; the same—are buying portable generators, hauling in server farms in shipping containers &amp; mining bitcoin right at the wellheads</p>&mdash; Jessica McKenzie (@jessimckenzi) <a href="https://twitter.com/jessimckenzi/status/1526573090196574214?ref_src=twsrc%5Etfw">May 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

thrad
I love (hate) this part:
https://pbs.twimg.com/media/FS-DlhwXsAERTgm?format=jpg&name=large

It is good for us to convert oxygen to CO2, because trees will convert it back to oxygen for you to breathe.

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[Post 107]
Author : Ari
Date : 05-18-2022 07:35 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Seth Green still exists:
I cannot stop looking at that ‘doodle’ as if anyone would find that interesting or worth anything.

It’s like kids playing at recess, trading cards and making up rules of an imaginary game.

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[Post 108]
Author : Kamilah Hauptmann
Date : 05-18-2022 08:39 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Seth Green still exists:
I cannot stop looking at that ‘doodle’ as if anyone would find that interesting or worth anything.

It’s like kids playing at recess, trading cards and making up rules of an imaginary game.

Some baseball cards might be worth something someday, I suppose.

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[Post 109]
Author : viscousmemories
Date : 05-24-2022 07:44 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

More on Seth Green's apeloss:

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Seth Green&#8217;s Bored Ape NFT, which was set to star in its own animated show, was stolen through a phishing scam.<br><br>Green no longer owns the commercial rights to the NFT and thus the show cannot move forward.<br><br>&#55357;&#56599;: <a href="https://t.co/Bdrw8qKhzi">https://t.co/Bdrw8qKhzi</a> <a href="https://t.co/MBO1XvLIML">pic.twitter.com/MBO1XvLIML</a></p>&mdash; More Butter &#55358;&#56776; (@morebuttertv) <a href="https://twitter.com/morebuttertv/status/1529151981792727040?ref_src=twsrc%5Etfw">May 24, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 110]
Author : Ari
Date : 05-24-2022 08:23 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:giggle: Oh yes what a wonderful replacement to broken IP law where the current holder of a token is the no questions asked owner of its IP (part of the Bored Ape contract). I can’t wait for this bright future where the next Marvel movie is put on hold as Disney negotiates with HulkBusterNut69 for use of the IronMan IP.

“I bought that ape in July 2021, and have spent the last several months developing and exploiting the IP to make it into the star of this show,” Green told Vaynerchuk. “Then days before — his name is Fred by the way — days before he’s set to make his world debut, he’s literally kidnapped.” 
Well, now that you’ve named him, that’s different! The FBI needs to get involved before Green starts receiving ripped up pixels in the mail!

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[Post 111]
Author : Ensign Steve
Date : 05-26-2022 04:32 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

More on Seth Green's apeloss:

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Seth Green’s Bored Ape NFT, which was set to star in its own animated show, was stolen through a phishing scam.<br><br>Green no longer owns the commercial rights to the NFT and thus the show cannot move forward.<br><br>&#65533;&#65533;: <a href="https://t.co/Bdrw8qKhzi">https://t.co/Bdrw8qKhzi</a> <a href="https://t.co/MBO1XvLIML">pic.twitter.com/MBO1XvLIML</a></p>&mdash; More Butter &#65533;&#65533; (@morebuttertv) <a href="https://twitter.com/morebuttertv/status/1529151981792727040?ref_src=twsrc%5Etfw">May 24, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

That's not how IP works.


Oh yes what a wonderful replacement to broken IP law where the current holder of a token is the no questions asked owner of its IP (part of the Bored Ape contract).

Oh for real though? :lol:

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[Post 112]
Author : Ari
Date : 05-26-2022 05:28 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

So on one hand Ugly Apes are said to be programmatically generated with a type of rarity mix and match system and one youtube lawyer I&#8217;ve watched has said programmatically generated art can&#8217;t be copyrighted.

On the other, the Bored Ape contract goes into specific details that all IP rights belong only to the cryptographically verifiable owner of each Ape and they will not make any changes to ownership themselves.

 iii. Commercial Use. Subject to your continued compliance with these Terms, Yuga Labs LLC grants you an unlimited, worldwide license to use, copy, and display the purchased Art for the purpose of creating derivative works based upon the Art (&#8220;Commercial Use&#8221;). Examples of such Commercial Use would e.g. be the use of the Art to produce and sell merchandise products (T-Shirts etc.) displaying copies of the Art. For the sake of clarity, nothing in this Section will be deemed to restrict you from (i) owning or operating a marketplace that permits the use and sale of Bored Apes generally, provided that the marketplace cryptographically verifies eachBored Ape owner&#8217;s rights to display the Art for their Bored Ape to ensure that only the actual owner can display the Art; (ii) owning or operating a third party website or application that permits the inclusion, involvement, or participation of Bored Apes generally, provided that the third party website or application cryptographically verifies each Bored Ape owner&#8217;s rights to display the Art for theirBored Ape to ensure that only the actual owner can display the Art, and provided that the Art is no longer visible once the owner of the Purchased Bored Ape leaves the website/application; or (iii) earning revenue from any of the foregoing.

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[Post 113]
Author : Kamilah Hauptmann
Date : 05-29-2022 09:03 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">from the account that brought you hits like &quot;destroying a physical object makes the NFT I made to represent it absorb its value-essence&quot; <a href="https://t.co/3FUeEA8uFo">pic.twitter.com/3FUeEA8uFo</a></p>&mdash; Aaron Miller (@apage43) <a href="https://twitter.com/apage43/status/1530910644492390401?ref_src=twsrc%5Etfw">May 29, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 114]
Author : viscousmemories
Date : 05-29-2022 10:51 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

She's in the news today.

Molly White is becoming the crypto world&#x27;s biggest critic - The Washington Post (https://www.washingtonpost.com/technology/2022/05/29/molly-white-crypto/?tid=ss_tw)

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[Post 115]
Author : lisarea
Date : 05-30-2022 01:22 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">from the account that brought you hits like &quot;destroying a physical object makes the NFT I made to represent it absorb its value-essence&quot; <a href="https://t.co/3FUeEA8uFo">pic.twitter.com/3FUeEA8uFo</a></p>&mdash; Aaron Miller (@apage43) <a href="https://twitter.com/apage43/status/1530910644492390401?ref_src=twsrc%5Etfw">May 29, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Which Ayn Rand book is the one where someone smashes a sculpture they love so that nobody else can see it ever again?

(I don't really have a point here, I'm seriously asking because it's bugging me.)

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[Post 116]
Author : Ari
Date : 05-30-2022 01:34 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Why Ape IP rights are meaningless, demonstrated by Dan Olson, as expected.

As far as APE NFT&#8217;s are concerned each one of these Ape&#8217;s is a unique item and different people may own the token to each individual Ape image. The background is also part of the individual NFT, making grey background ape a unique item from green background ape.

*If* it was possible for someone to own the IP rights to what is essentially the visualization of a bunch of dice rolls, they would be the IP rights to only the full still image, with that specific background, clothes and expression.

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[Post 117]
Author : Sock Puppet
Date : 06-02-2022 09:19 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

@Mr Area: The Fountainhead. I am ashamed that I knew that instantly. :paperbag:

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[Post 118]
Author : specious_reasons
Date : 06-02-2022 09:33 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

@Mr Area: The Fountainhead. I am ashamed that I knew that instantly. :paperbag:

I was going to bet The Fountainhead, it fits with the architectural theme, and I don't remember that in Atlas Shrugged.

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[Post 119]
Author : Kamilah Hauptmann
Date : 06-03-2022 08:45 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Renter loses half their security deposit after landlord puts it into Bitcoin<br><br>June 2, 2022<a href="https://t.co/SYK5SakUMD">https://t.co/SYK5SakUMD</a> <a href="https://t.co/QQPLVQpap9">pic.twitter.com/QQPLVQpap9</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1532768403714457606?ref_src=twsrc%5Etfw">June 3, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I&#39;m sure the landlord had every intention of giving the renter $6000 had their gamble with their money gone in the other direction</p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1532782545884090376?ref_src=twsrc%5Etfw">June 3, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 120]
Author : Kamilah Hauptmann
Date : 06-03-2022 08:45 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:dubble:

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[Post 121]
Author : Kamilah Hauptmann
Date : 06-04-2022 02:41 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Animoon rug pulls for $6.3 million<br><br>June 2, 2022<a href="https://t.co/8tEB1b8ra8">https://t.co/8tEB1b8ra8</a> <a href="https://t.co/ZWy5SrQAkM">pic.twitter.com/ZWy5SrQAkM</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1532849400980062217?ref_src=twsrc%5Etfw">June 3, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 122]
Author : Kamilah Hauptmann
Date : 06-07-2022 11:16 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Not the right thread, but probably funniest in here:

http://www.threepanelsoul.com/comics/1654574345-827.png

Three Panel Soul - San Francisco Parties (http://www.threepanelsoul.com/comic/san-francisco-parties)

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[Post 123]
Author : Ensign Steve
Date : 06-08-2022 12:47 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:hahano:

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[Post 124]
Author : viscousmemories
Date : 06-08-2022 12:13 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The funniest part is the suggestion that the developers are the ones who rake in the millions from the products they create.

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[Post 125]
Author : JoeP
Date : 06-08-2022 01:47 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Having just escaped from a project that was due to go live on 18 April, but was bumped by one or two weeks many many times, and whose latest go-live date of next week 13 June is now definitely not happening ... that comic could fit into a great many thrads here.

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[Post 126]
Author : Kamilah Hauptmann
Date : 06-10-2022 05:55 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="tl" dir="ltr">Hahaha <a href="https://t.co/25m3vJpKpO">pic.twitter.com/25m3vJpKpO</a></p>&mdash; Brendel (@Brendelbored) <a href="https://twitter.com/Brendelbored/status/1534897993035415552?ref_src=twsrc%5Etfw">June 9, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 127]
Author : Kamilah Hauptmann
Date : 06-13-2022 05:21 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Celsius pauses all withdrawals, claims it&#39;s due to &quot;extreme market conditions&quot;<br><br>June 12, 2022<a href="https://t.co/Bq9am3eFaT">https://t.co/Bq9am3eFaT</a> <a href="https://t.co/vSPqzJnu5e">pic.twitter.com/vSPqzJnu5e</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1536173411210256385?ref_src=twsrc%5Etfw">June 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Narator&#8217;s voice: they were, indeed, up shit creek without a paddle.

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[Post 128]
Author : Stephen Maturin
Date : 06-13-2022 09:03 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Your money is so secure even YOU can't get to it.

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[Post 129]
Author : Kamilah Hauptmann
Date : 06-13-2022 09:10 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Ultra conservative pension fund managers say what?

Caisse invests in cryptocurrency lender Celsius Network that the U.S. market authorities are investigating | CTV News (https://montreal.ctvnews.ca/the-caisse-invests-in-a-cryptocurrency-lender-targeted-by-market-authorities-in-the-united-states-1.5619989)

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[Post 130]
Author : ChuckF
Date : 06-14-2022 04:08 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Two things are simultaneously true:

1. Watching crypto completely shit the bed is very funny, as is watching HODLer bros double down and lose more to the tune of marginal whining about why won't the government fix this.
2. Those crypto bros are going to be radicalized by the convincing themselves that they didn't lose a bunch speculating in the century's most obviously stupid fucking scam, but in fact they earned something of actual value that was then taken away from them.  The retarded monkey boat discord channel or whatever is not a healthy place to cultivate ties with reality.

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[Post 131]
Author : Kamilah Hauptmann
Date : 06-14-2022 04:40 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="zxx" dir="ltr"><a href="https://t.co/LAQS35sDUq">pic.twitter.com/LAQS35sDUq</a></p>&mdash; The Call is Coming from Inside the Nash (@Nash076) <a href="https://twitter.com/Nash076/status/1536470608313204736?ref_src=twsrc%5Etfw">June 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 132]
Author : Stormlight
Date : 06-14-2022 03:32 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BUY NOW BEFORE THE PRICE DROPS!1!! :payup:

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[Post 133]
Author : Kamilah Hauptmann
Date : 06-15-2022 05:51 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">SEC reportedly begins probe into insider trading at crypto exchanges<br><br>June 14, 2022<a href="https://t.co/LRRe5j5svk">https://t.co/LRRe5j5svk</a> <a href="https://t.co/q5gLoLyga5">pic.twitter.com/q5gLoLyga5</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1536900739087355911?ref_src=twsrc%5Etfw">June 15, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 134]
Author : Stephen Maturin
Date : 06-15-2022 05:51 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Disgraceful. SEC bullying of inside traders violates the Non-Aggression Principle.

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[Post 135]
Author : JoeP
Date : 06-15-2022 05:59 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://i.imgur.com/rqlC1h3.jpeg

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[Post 136]
Author : Kamilah Hauptmann
Date : 06-15-2022 11:09 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Kraken crypto exchange announces &#128681; culture overhaul &#128681;<br><br>June 15, 2022<a href="https://t.co/tNKvjIQcKm">https://t.co/tNKvjIQcKm</a> <a href="https://t.co/gcB4JjMzpU">pic.twitter.com/gcB4JjMzpU</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1537104544232001539?ref_src=twsrc%5Etfw">June 15, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">And here is the &quot;hit piece&quot; that Powell was trying to front run with this announcement. <a href="https://t.co/b2uq9RFkZC">https://t.co/b2uq9RFkZC</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1537147360052236288?ref_src=twsrc%5Etfw">June 15, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 137]
Author : Stephen Maturin
Date : 06-15-2022 11:29 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:laugh:

Cuz how can you effectively fleece the cryptobros if your employees aren't even allowed to say the word "jiggaboo" out loud?

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[Post 138]
Author : Ari
Date : 06-16-2022 03:04 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That NewYork Times article was good!

I&#8217;m having flash backs to a burningman camp I was with that had some dudes like these, and that one night the idea of a future &#8216;art project&#8217; of fundraising a million dollars to then burn it in a big fire tornado to show people that money is just like paper man, was tossed about way too long as some sort of more meta than meta genius idea. At least a few also thought themselves master trolls.

 In April, a Kraken employee posted a video internally on a different Slack group that set off the latest fracas. The video featured two women who said they preferred $100 in cash over a Bitcoin, which at the time cost more than $40,000. &#8220;But this is how female brain works,&#8221; the employee commented.

Mr. Powell chimed in. He said the debate over women&#8217;s mental abilities was unsettled. &#8220;Most American ladies have been brainwashed in modern times,&#8221; he added on Slack, in an exchange viewed by The Times.
:lol: Hey ladies, the man who&#8217;s entire business is to convince other men they are absolutely not the greater fools out there and their poorly secured digital beanie baby coin will be sellable for a profit, would like to explain to you how women just aren&#8217;t as smart and logical as men, they just don&#8217;t understand the world like men.

 At Kraken, Mr. Powell is part of a Slack group called trolling-999plus, according to messages viewed by The Times. The group is labeled &#8220;&#8230; and you thought 4chan was full of trolls,&#8221;
Just think, if people linked to us, we could of had this genius in our Cloaca!

This month, Mr. Powell unveiled a 31-page culture document outlining Kraken&#8217;s &#8220;libertarian philosophical values&#8221; and commitment to &#8220;diversity of thought,&#8221; and told employees in a meeting that he did not believe they should choose their own pronouns. The document and a recording of the meeting were obtained by The Times. I know I&#8217;ve hacked up the article a bit but just :lol:
Super libertarian company says fuck your opinion, your gender is whatever we decide!

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[Post 139]
Author : slimshady2357
Date : 06-16-2022 03:06 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

That NewYork Times article was good!

I&#8217;m having flash backs to a burningman camp I was with that had some dudes like these, and that one night the idea of a future &#8216;art project&#8217; of fundraising a million dollars to then burn it in a big fire tornado to show people that money is just like paper man, was tossed about way too long as some sort of more meta than meta genius idea. At least a few also thought themselves master trolls.


Not only a strange and silly idea, but one that has already been done.

K Foundation Burn a Million Quid - Wikipedia (https://en.wikipedia.org/wiki/K_Foundation_Burn_a_Million_Quid)

K Foundation Burn a Million Quid was a performance art action on 23 August 1994 in which the K Foundation (an art duo consisting of Bill Drummond and Jimmy Cauty) burned cash in the amount of one million pounds sterling (equivalent to about £2.1 million in 2021) in a disused boathouse on the Ardfin Estate on the Scottish island of Jura. The money represented the bulk of the K Foundation's funds, earned by Drummond and Cauty as The KLF, one of the United Kingdom's most successful pop groups of the early 1990s.

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[Post 140]
Author : Kamilah Hauptmann
Date : 06-16-2022 08:06 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Anna Sorokin, known for taking hundreds of thousands of dollars from friends and businesses while posing as a German heiress, says she&#39;s trying to move away from the &quot;scammer persona&quot; and plans to launch a collection of NFTs. <a href="https://t.co/k4XzaoK2qO">https://t.co/k4XzaoK2qO</a></p>&mdash; NBC News (@NBCNews) <a href="https://twitter.com/NBCNews/status/1537426037864386561?ref_src=twsrc%5Etfw">June 16, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 141]
Author : Kamilah Hauptmann
Date : 06-16-2022 10:00 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Elon Musk, SpaceX and Tesla are being sued for $258 billion over claims they are part of a racketeering scheme to back the cryptocurrency Dogecoin <a href="https://t.co/HgvMaYpV7F">https://t.co/HgvMaYpV7F</a></p>&mdash; Bloomberg (@business) <a href="https://twitter.com/business/status/1537452050564489219?ref_src=twsrc%5Etfw">June 16, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

Well holy. Absurdism really is the most reasonable philosophical model after all.

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[Post 142]
Author : Kamilah Hauptmann
Date : 06-18-2022 09:21 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">lol<br><br>according to a reddit user, celsius stopped accepting their own token ( <a href="https://twitter.com/search?q=%24CEL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$CEL</a> ) for interest payments <a href="https://t.co/3BnBOlN12e">pic.twitter.com/3BnBOlN12e</a></p>&mdash; Kyle Torpey (@kyletorpey) <a href="https://twitter.com/kyletorpey/status/1537923302563250176?ref_src=twsrc%5Etfw">June 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

:LOL:

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[Post 143]
Author : Ari
Date : 06-18-2022 09:05 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:lol: To make it easier to Hodl, we’ve removed the option to not-hodl. 

Every time I see that word I think of a sporty looking but overall not that expensive porsche that used to be parked around the lake with “Hodl” as its license plate.

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[Post 144]
Author : Kamilah Hauptmann
Date : 06-19-2022 02:01 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Man Who Lost Everything In Crypto Just Wishes Several Thousand More People Had Warned Him (https://www.theonion.com/man-who-lost-everything-in-crypto-just-wishes-several-t-1848764551)

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[Post 145]
Author : Kamilah Hauptmann
Date : 06-19-2022 07:37 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Jews. (https://www.reddit.com/r/BitcoinNewsReport/comments/vf3oex/george_soros_who_has_secretly_been_shorting/)

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[Post 146]
Author : Kamilah Hauptmann
Date : 06-19-2022 06:44 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Founders of $10 Billion Crypto Hedge Fund Have Ghosted After Bets Go Bad (https://www.vice.com/en/article/n7zw7x/founders-of-dollar10-billion-crypto-hedge-fund-have-ghosted-after-bets-go-bad)

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[Post 147]
Author : Kamilah Hauptmann
Date : 06-22-2022 03:47 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Holy shit that name tag tho <a href="https://t.co/s4e3TOJQCK">https://t.co/s4e3TOJQCK</a> <a href="https://t.co/3sHo1hqgBY">pic.twitter.com/3sHo1hqgBY</a></p>&mdash; amosmelli (@regiscake) <a href="https://twitter.com/regiscake/status/1539338847829782528?ref_src=twsrc%5Etfw">June 21, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 148]
Author : Kamilah Hauptmann
Date : 06-27-2022 10:04 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

This Bored Ape Crypto Restaurant Has Stopped Accepting Crypto (https://www.thegamer.com/bored-ape-nft-restaurant-crypto-payments-cancelled-crash/)

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[Post 149]
Author : Crumb
Date : 07-07-2022 04:08 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://i.redd.it/02ih93f5pz991.png

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[Post 150]
Author : Ari
Date : 07-14-2022 05:55 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I don&#8217;t understand the financial details but it sounds like &#8216;only the rich will be getting their money back&#8217; from Celsius crypto wallet (bank) and lender who suspended withdrawals and has now filed for Chapter 11.

Crypto lender Celsius files for bankruptcy, still won&#8217;t let users withdraw funds | Ars Technica (https://arstechnica.com/tech-policy/2022/07/crypto-lender-celsius-files-for-bankruptcy-still-wont-let-users-withdraw-funds)

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[Post 151]
Author : ChuckF
Date : 07-15-2022 01:12 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Here is what I think happened, based on the utterly bizarre hodler bros with some ridiculous short squeeze fantasy around Celsius on Twitter (pure copium, as the youths say):

Celsius took on a lot of crypto debt. When the value of crypto currencies is increasing, that is fine. But when the value of crypto starts to decrease, or just completely shits the bed, that gets very bad very quickly. Or when you have a significant exposure to a shady crypto hedge fund that abruptly fails. Suprisingly, the defi smoothbrains who are convinced that tradfi banking is dead did not piece this together from the financial crisis.

Anyway, back to Celsius. The market destabilized. They realized, oh fuck, we have a hole in the balance sheet. What assets do we have? Well, they have all their customer's crypto holdings. Keep in mind that while it sure advertised itself like a bank, Celsius is not a bank and has no duty to act in the best interest of its clients. It is not a fiduciary. People who are "saving" their crypto in Celsius, or earning "rewards" on their "deposits" are literally just handing it to Celsius and hoping they might give it back if they ask.

So, how does Celsius try to right the ship? First, reduce liabilities. Pay down the debt, and reclaim the collateral you posted. But you won't survive long enough to do that if all your customers withdraw their deposits. Like a bank run. Zap, no more liquidity.  So they suspend withdrawals and transfers out. They keep those assets. Keep paying "rewards" or whatever.  

And then pay down debt. Get collateral back. Pay down debt. Repeat. The hole in the balance sheet starts to shrink. It doesn't disappear, but it means that you might be able to salvage enough of the company to survive bankruptcy if you can restructure, e.g. wipe out, some unsecured debt.

Now, why pay back the debt first? Because that debt is owed to secured creditors. Those creditors have a legal security interest in Celsius assets. In the event of bankruptcy, those creditors move to the front of the line to get paid. Nobody behind them gets paid until they are made whole. 

I'll give you one guess who the unsecured creditors - the ones towards back of the line - might be. If you guessed their customers, have a worthless $LUNC.

The most amazing thing about watching this has been the energy customers have spent convincing themselves that Celsius was acting in their best interests by making their funds inaccessible, because the arbitrary "rewards" number keeps increasing, denominated in a completely arbitrary and irredeemable token. They also convinced themselves that they were squeezing the shorts, repelling some Wall Street assault, by buying more of the stupid  Celsius token, which basically just handed Celsius more free liquidity and/or subsidized further Celsius speculation in their own stupid token.

The balance sheet hole is about $1.2 billion. So customers will probably, eventually, when the bankruptcy court approves a plan for it, be able to withdraw some number of cents on the dollar.  Maybe.

Let us see how few lessons are learned.

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[Post 152]
Author : Kamilah Hauptmann
Date : 07-15-2022 04:52 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

New NFT drop:

<blockquote class="twitter-tweet"><p lang="zxx" dir="ltr"><a href="https://t.co/9CxShoLQ9C">pic.twitter.com/9CxShoLQ9C</a></p>&mdash; Weird Dall-E Mini Generations (@weirddalle) <a href="https://twitter.com/weirddalle/status/1547289420717490176?ref_src=twsrc%5Etfw">July 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 153]
Author : viscousmemories
Date : 07-22-2022 01:12 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Man Who Lost Everything In Crypto Just Wishes Several Thousand More People Had Warned Him (https://www.theonion.com/man-who-lost-everything-in-crypto-just-wishes-several-t-1848764551)

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[Post 154]
Author : erimir
Date : 07-22-2022 05:09 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

New NFT drop:

<blockquote class="twitter-tweet"><p lang="zxx" dir="ltr"><a href="https://t.co/9CxShoLQ9C">pic.twitter.com/9CxShoLQ9C</a></p>&mdash; Weird Dall-E Mini Generations (@weirddalle) <a href="https://twitter.com/weirddalle/status/1547289420717490176?ref_src=twsrc%5Etfw">July 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
I just spent way too long looking at that account.

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[Post 155]
Author : ChuckF
Date : 07-23-2022 12:19 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm doing a $300 experiment over the next month or so. I purchased $100 worth of crypto (Bitcoin cash), placed $100 in a savings account earning 0.05% interest, and will buy $100 in lottery tickets. Looking forward to seeing how I do. Pretty sure I know.

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[Post 156]
Author : specious_reasons
Date : 07-23-2022 12:34 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm doing a $300 experiment over the next month or so. I purchased $100 worth of crypto (Bitcoin cash), placed $100 in a savings account earning 0.05% interest, and will buy $100 in lottery tickets. Looking forward to seeing how I do. Pretty sure I know.

It'll be very ironic if the entire banking system collapses.

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[Post 157]
Author : Kamilah Hauptmann
Date : 07-23-2022 12:51 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Get in and out fast on those TrumpCoins.

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[Post 158]
Author : Sock Puppet
Date : 07-23-2022 03:35 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

You&#8217;d better throw a few :fflorin: in there, just to have one investment with true intrinsic value, to serve as a control group.

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[Post 159]
Author : JoeP
Date : 07-23-2022 07:56 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm doing a $300 experiment over the next month or so. I purchased $100 worth of crypto (Bitcoin cash), placed $100 in a savings account earning 0.05% interest, and will buy $100 in lottery tickets. Looking forward to seeing how I do. Pretty sure I know.

Fucked, married, killed.

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[Post 160]
Author : slimshady2357
Date : 07-23-2022 07:59 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'm doing a $300 experiment over the next month or so. I purchased $100 worth of crypto (Bitcoin cash), placed $100 in a savings account earning 0.05% interest, and will buy $100 in lottery tickets. Looking forward to seeing how I do. Pretty sure I know.

Out of curiosity, why Bitcoin Cash and not actual Bitcoin?

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[Post 161]
Author : ChuckF
Date : 07-23-2022 12:35 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

No real reason, was an arbitrary pick. I liked that the value was closer to $100 so it would be easier to eyeball than a very fractional BTC. I was somewhat tempted to pick one of the stupid shitcoins, but want the experiment to last at least a couple of weeks.

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[Post 162]
Author : BrotherMan
Date : 07-23-2022 06:08 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

You’d better throw a few :fflorin: in there, just to have one investment with true intrinsic value, to serve as a control group.

First rule of :fflorin: is you can't tell anybody about it. My god man. Are you trying to destroy everything we've worked so hard for here?

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[Post 163]
Author : ChuckF
Date : 07-23-2022 06:51 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

You’d better throw a few :fflorin: in there, just to have one investment with true intrinsic value, to serve as a control group.

First rule of :fflorin: is you can't tell anybody about it. My god man. Are you trying to destroy everything we've worked so hard for here?
all :fflorin: transactions must be on the bortchain

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[Post 164]
Author : Ensign Steve
Date : 07-24-2022 04:54 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:lolhog:

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[Post 165]
Author : ChuckF
Date : 07-24-2022 06:12 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

After being -$7 or so yesterday, I'm now +$2.91 I AM A CRYPTO WHALE

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[Post 166]
Author : Stormlight
Date : 07-25-2022 10:07 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I don&#8217;t understand the financial details but it sounds like &#8216;only the rich will be getting their money back&#8217; from Celsius crypto wallet (bank) and lender who suspended withdrawals and has now filed for Chapter 11.

Crypto lender Celsius files for bankruptcy, still won&#8217;t let users withdraw funds | Ars Technica (https://arstechnica.com/tech-policy/2022/07/crypto-lender-celsius-files-for-bankruptcy-still-wont-let-users-withdraw-funds)

"The rich will be getting their money back." That's the new Golden Rule. And not only when it comes to crypto.

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[Post 167]
Author : JoeP
Date : 07-25-2022 02:11 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The rich will be getting your money back.

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[Post 168]
Author : Kamilah Hauptmann
Date : 07-25-2022 11:09 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">After five years in prison for a Ponzi scheme and a lifetime ban from the pharmaceutical industry, Martin Shkreli announces his new venture: a web3 drug discovery platform<br><br>July 25, 2022<a href="https://t.co/7luTfhxFhp">https://t.co/7luTfhxFhp</a> <a href="https://t.co/gKMfEzjUms">pic.twitter.com/gKMfEzjUms</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1551602159250276355?ref_src=twsrc%5Etfw">July 25, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 169]
Author : ChuckF
Date : 07-27-2022 04:06 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

To date:

BCH -7.19%
Savings account +0%
Lottery ticket (first $20 only) -100%

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[Post 170]
Author : slimshady2357
Date : 07-28-2022 09:21 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH on the move :^:

Chuckles is gonna be RICH :capitalistpig:

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[Post 171]
Author : ChuckF
Date : 07-28-2022 09:53 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I am making fake BANK today!

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[Post 172]
Author : Stephen Maturin
Date : 07-29-2022 04:57 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Fake hookers and fake blow for everyone!

:djparty:

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[Post 173]
Author : ChuckF
Date : 08-02-2022 12:04 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH +9.13% (was up ~30% for about ten minutes at one point!)
Savings account +0%
Lottery ticket (first $40 only) -85%

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[Post 174]
Author : erimir
Date : 08-02-2022 02:21 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH +9.13% (was up ~30% for about ten minutes at one point!)
Savings account +0%
Lottery ticket (first $40 only) -85%
Really burying the lede here that YOU WON THE LOTTERY!

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[Post 175]
Author : Kamilah Hauptmann
Date : 08-02-2022 03:03 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

THAT NEXT TICKET COULD BE THE ONE.

(Yes, that&#8217;s how addiction works.)

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[Post 176]
Author : ChuckF
Date : 08-02-2022 03:27 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH +9.13% (was up ~30% for about ten minutes at one point!)
Savings account +0%
Lottery ticket (first $40 only) -85%
Really burying the lede here that YOU WON THE LOTTERY!

MEGA MILLIONS :capitalistpig:

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[Post 177]
Author : MonCapitan2002
Date : 08-07-2022 12:20 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Wow.  So I have some things to say about cryptocurrency and NFT's.  To sum up those feelings in a single sentence, it would go like this.  I fucking hate them with a fiery, burning passion and wish everyone involved in inventing them and perpetrating the fraud they enabled would be rounded up and loaded into rockets destined to deposit them in Sagittarius A*.

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[Post 178]
Author : ChuckF
Date : 08-07-2022 01:45 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH +19.1%
Savings account +0%
Lottery ticket (first $46 only) -83%

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[Post 179]
Author : ChuckF
Date : 08-19-2022 03:11 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH -0.9%
Savings account +0.05%
Lottery ticket (first $46 only) -83% [I keep forgetting to buy lottery tickets because it is so stupid.]

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[Post 180]
Author : JoeP
Date : 08-19-2022 05:05 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

[I keep forgetting to buy lottery tickets because it is so stupid.]

You could buy all the lottery tickets at once. It will not matter.

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[Post 181]
Author : Kamilah Hauptmann
Date : 08-19-2022 05:11 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

[I keep forgetting to buy lottery tickets because it is so stupid.]

You could buy all the lottery tickets at once. It will not matter.

Why do you hate science?

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[Post 182]
Author : BrotherMan
Date : 08-19-2022 04:49 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The real money is in scratchers, my man.

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[Post 183]
Author : ChuckF
Date : 08-20-2022 05:13 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Lottery tickets pose a practical problem that I did not anticipate when I designed the experiment. To physically get them, I have to go to the gas station, which means that I have to (1) need gas and (2) be willing to go inside and (3) actually have cash to buy a lottery ticket. I might go get gas tomorrow and get the remaining $54 in lottery tickets, but I will have to go to the ATM. :rolleye1: 

The experiment ends on Monday.  My precious BCH took a bit of a turn, now -9.2%. This is how diamond hands are made.

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[Post 184]
Author : BrotherMan
Date : 08-20-2022 07:06 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Regional chain convenience store(s) in my area have full service kiosks that provide scratcher types and other local and regional big money lottery tickets. So that you don't have to spend "real" money to gamble your life away.

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[Post 185]
Author : ChuckF
Date : 08-20-2022 07:17 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Some places here have a thing where you can buy opportunities to lose at the gas pump using your debit card, but seems super convoluted. Like something to do with an app or creating an account.

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[Post 186]
Author : Kamilah Hauptmann
Date : 08-20-2022 09:37 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://i.gyazo.com/89542547358cc9f093ce389f43cc1c86.jpg

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[Post 187]
Author : Stephen Maturin
Date : 08-22-2022 12:40 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Can I go to court to renegotiate our financial order?

You can certainly go back to court. 

:prayer: :popcorn:

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[Post 188]
Author : Kamilah Hauptmann
Date : 08-22-2022 05:08 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Is the best part the part where he expected his ex to be &#8220;considerably worse off&#8221; or that he expects her to cover his gambling problem?

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[Post 189]
Author : Stephen Maturin
Date : 08-22-2022 05:40 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Yes.

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[Post 190]
Author : ChuckF
Date : 08-22-2022 08:20 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH liquidated. Final performance: -5.7%. Actually better than I expected. Had I sold at peak I would have made like $35, at bottom I would have been out ~$18.

Savings account is the big winner, I made five cents.

I guess the lottery ticket arm is technically incomplete but I'm comfortable concluding non-superiority and non-equivalence.

ETA: $100 in an S&P 500 ETF woudl have returned ~4.5% over the same term.

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[Post 191]
Author : Stephen Maturin
Date : 08-23-2022 03:46 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Next time try sports gambling, Chuck. Wait . . . did I say "gambling"? Cuz, totally not gambling. (Skip to 15:20 if you want only the honest ad.)

Daily Fantasy Sports: Last Week Tonight with John Oliver (HBO) - YouTube

:lol: @ "Is there something stronger than a divorce we can get?"

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[Post 192]
Author : Kamilah Hauptmann
Date : 09-02-2022 09:43 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">apologies if this is how you&#39;re finding out that bill murray is selling NFTs now</p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1565793128673583105?ref_src=twsrc%5Etfw">September 2, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 193]
Author : specious_reasons
Date : 09-02-2022 10:57 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

apologies if this is how you're finding out that bill murray is selling NFTs now

:sadnana:

(Actually, Murray seems like he'd be a cryptobro hero, so it's not surprising at all he has NFTs. It's just a shame the charity got screwed as a result.)

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[Post 194]
Author : Kamilah Hauptmann
Date : 09-14-2022 07:19 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

They're all faith based.

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Covenant Token is a faith-based cryptocurrency available on 7 blockchains and 15 exchanges. Our NFT Marketplace is <a href="https://t.co/lpjY6eeUGH">https://t.co/lpjY6eeUGH</a> <a href="https://t.co/yeXinIDbGj">pic.twitter.com/yeXinIDbGj</a></p>&mdash; Covenant Ministry (@covenant_today) <a href="https://twitter.com/covenant_today/status/1569404439559311361?ref_src=twsrc%5Etfw">September 12, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 195]
Author : ChuckF
Date : 09-15-2022 02:01 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Isn't it all faith-based?

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[Post 196]
Author : JoeP
Date : 09-15-2022 09:00 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'll need to see some evidence for that.

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[Post 197]
Author : BrotherMan
Date : 09-15-2022 05:28 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:ipu:

(pbuh)

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[Post 198]
Author : JoeP
Date : 09-15-2022 06:58 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:fsm:

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[Post 199]
Author : Kamilah Hauptmann
Date : 09-21-2022 07:24 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">This is the greatest security pop-up in history. 10/10. No notes. <a href="https://t.co/uXbGXxo10W">https://t.co/uXbGXxo10W</a></p>&mdash; Alex Stamos (@alexstamos) <a href="https://twitter.com/alexstamos/status/1572316077597818880?ref_src=twsrc%5Etfw">September 20, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 200]
Author : Kamilah Hauptmann
Date : 09-24-2022 06:58 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Crypto is at the &#39;fuck it, why not?&#39; stage. <a href="https://t.co/WUWdh6DOcR">pic.twitter.com/WUWdh6DOcR</a></p>&mdash; Matt Stoller (@matthewstoller) <a href="https://twitter.com/matthewstoller/status/1573363287068377088?ref_src=twsrc%5Etfw">September 23, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

:dielaugh:

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[Post 201]
Author : Kamilah Hauptmann
Date : 10-02-2022 10:48 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Crypto douche makes NFTs of a Frida Kahlo drawing then destroys the original.

Cryptocurrency entrepreneur destroyed $10m Frida Kahlo drawing to &#8220;transition it into the Metaverse&#8221; (https://www.telegraph.co.uk/world-news/2022/09/29/cryptocurrency-entrepreneur-says-destroyed-10-million-frida/)

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[Post 202]
Author : Kamilah Hauptmann
Date : 10-11-2022 06:48 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Vault by CNN shutdown results in rug pull accusations from NFT buyers - The Verge (https://www.theverge.com/2022/10/10/23397766/vault-by-cnn-nft-shutdown-flow-rebate-rugpull)

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[Post 203]
Author : Ensign Steve
Date : 10-11-2022 07:11 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Vault by CNN shutdown results in rug pull accusations from NFT buyers - The Verge (https://www.theverge.com/2022/10/10/23397766/vault-by-cnn-nft-shutdown-flow-rebate-rugpull)

He also noted that the actual media for the NFTs is stored in IPFS, a distributed file system that should mean they'll continue to be available even if CNN's website goes away.

At first I was like, "oh, so there's kind of a solution for link rot?" (link rot being one of my biggest, dumbest problems (https://www.freethought-forum.com/forum/showthread.php?p=1366227#post1366227) with this concept that is rife with big, dumb problems). So I googled IPFS, and after the results for Insurance Premium Financing Solutions, I found out about the InterPlanetary File System protocol, and a link to the website ipfs.io.  That's as far as I got, because I got a THIS CONTENT NOT ALLOWED ON WORK COMPUTER nanny gate when I tried to go there.  Nothing sketch about this, I'm sure.

So far, that doesn't appear to be enough to put collectors at ease after they expected that tokens published by an established brand like CNN would experience more support than many shadier NFT projects. As one message in the channel put it, "you can't simply say goodbye but your NFTs are still ok and now more rare... without a community (discord at least) and no utility... it's not an NFT anymore but a mere digital copy..."

Wait, you mean they aren't intrinsically valuable due to their rareness alone? :gasp:

:1111:

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[Post 204]
Author : Ensign Steve
Date : 10-11-2022 07:15 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Oh, it looks like I already knew about IPFS (https://www.freethought-forum.com/forum/showthread.php?p=1366241#post1366241), I just had the letters wrong.

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[Post 205]
Author : beyelzu
Date : 10-11-2022 09:14 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

If the criminals are jumping ship, should we be worried?
At the time of the 2016 hack Bitcoins highest price was 40x lower than today. Had the money been laundered soon after the hack they might have disapeared into the night, but after letting them sit, they got greedy, saw the literal billions they were sitting on and had to try to pull it out before the crash.

 Ilya Lichtenstein and his wife Heather Morgan conspired to launder the proceeds of nearly 120,000 stolen bitcoin, according to court documents cited by the DOJ, which were transferred to a digital wallet controlled by Lichtenstein. Since the initial hack, roughly 25,000 bitcoin have been transferred out of that wallet and laundered through a complex series of transactions, with the resulting funds deposited into conventional accounts owned by Lichtenstein and Morgan.

The scheme went off the rails in January, though, after federal agents were able to access and decrypt a file stored in Lichtenstein's cloud storage account that provided a list of more than 2,000 virtual currency addresses and keys. Further analysis confirmed that nearly all of the addresses were directly linked to the hack; more than 94,000 bitcoin were subsequently seized. The bitcoin was valued at more than $3.6 billion at the time of seizure, making it the largest financial recoveryin DOJ history. 

Blockchain hustler and cringey rapper charged with laundering $4.5B in stolen bitcoin | PC Gamer (https://www.pcgamer.com/a-blockchain-hustler-and-a-cringey-rapper-have-been-charged-with-laundering-dollar45b-in-stolen-bitcoin/)
If that wasn’t criminal enough, Morgan went around convincing old white CEOs they should rap to be hip.

https://cdn.mos.cms.futurecdn.net/FsPQBCSwJPDwqMQynMjzXa-1024-80.jpg

I think we owe them a thank you.

Succession - Kendall Rapping - YouTube

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[Post 206]
Author : specious_reasons
Date : 10-11-2022 09:26 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

As embarrassing as that Succession clip was, it was better than Heather Morgan's rapping.

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[Post 207]
Author : fragment
Date : 10-11-2022 09:40 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

He also noted that the actual media for the NFTs is stored in IPFS, a distributed file system that should mean they'll continue to be available even if CNN's website goes away.

At first I was like, "oh, so there's kind of a solution for link rot?" (link rot being one of my biggest, dumbest problems (https://www.freethought-forum.com/forum/showthread.php?p=1366227#post1366227) with this concept that is rife with big, dumb problems). So I googled IPFS, and after the results for Insurance Premium Financing Solutions, I found out about the InterPlanetary File System protocol, and a link to the website ipfs.io.  That's as far as I got, because I got a THIS CONTENT NOT ALLOWED ON WORK COMPUTER nanny gate when I tried to go there.  Nothing sketch about this, I'm sure.
Hang on, to avoid the disappearance of something that is supposed to be valued for scarcity they put it on a system that works by producing many persistent copies?

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[Post 208]
Author : specious_reasons
Date : 10-11-2022 10:31 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

He also noted that the actual media for the NFTs is stored in IPFS, a distributed file system that should mean they'll continue to be available even if CNN's website goes away.

At first I was like, "oh, so there's kind of a solution for link rot?" (link rot being one of my biggest, dumbest problems (https://www.freethought-forum.com/forum/showthread.php?p=1366227#post1366227) with this concept that is rife with big, dumb problems). So I googled IPFS, and after the results for Insurance Premium Financing Solutions, I found out about the InterPlanetary File System protocol, and a link to the website ipfs.io.  That's as far as I got, because I got a THIS CONTENT NOT ALLOWED ON WORK COMPUTER nanny gate when I tried to go there.  Nothing sketch about this, I'm sure.
Hang on, to avoid the disappearance of something that is supposed to be valued for scarcity they put it on a system that works by producing many persistent copies?
But you have a unique, valuable and rare claim of ownership!

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[Post 209]
Author : Kamilah Hauptmann
Date : 10-12-2022 06:56 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">U.S. SEC is investigating Bored Apes creator Yuga Labs<br><br>October 11, 2022<a href="https://t.co/4VKGidhC31">https://t.co/4VKGidhC31</a> <a href="https://t.co/Jzj8QPnIP0">pic.twitter.com/Jzj8QPnIP0</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1579895354878701569?ref_src=twsrc%5Etfw">October 11, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 210]
Author : Kamilah Hauptmann
Date : 10-12-2022 11:18 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

$1.2 Billion Metaverse Horrified by Report It Only Had 38 Active Users (https://futurism.com/the-byte/metaverse-decentraland-report-active-users)

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[Post 211]
Author : specious_reasons
Date : 10-13-2022 12:59 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

$1.2 Billion Metaverse Horrified by Report It Only Had 38 Active Users (https://futurism.com/the-byte/metaverse-decentraland-report-active-users)

I saw that.

To be fair, the 38 "active users" were people who accessed the blockchain for that service.  The company claims that thousands of people per day are using the service.

Of course, a service that has a a few thousands daily users and only a few dozen generating crypto revenue seems like a viable $1.2 Billion company.

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[Post 212]
Author : Ari
Date : 10-13-2022 01:20 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I just don’t understand why it’s so ugly and plain looking. Why does it look like Second Life Circa 2008? Are they trying to fuck up?

It just says so much when an avatar could have any sort of background or environment around them and Zuck chose brown shadow box shelves with 3d primitives.  
 
https://i.insider.com/6345b69bd2050f0011d3d246?width=400

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[Post 213]
Author : Kamilah Hauptmann
Date : 10-13-2022 01:33 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I just don’t understand why it’s so ugly and plain looking. Why does it look like Second Life Circa 2008? Are they trying to fuck up?
 
https://i.insider.com/6345b69bd2050f0011d3d246?width=400

This is a photorealistic rendering of what the world actually looks like to Mark Zuckerberg.

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[Post 214]
Author : fragment
Date : 10-13-2022 02:59 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I just don’t understand why it’s so ugly and plain looking. Why does it look like Second Life Circa 2008? Are they trying to fuck up?

I don't know how anyone thought "second life, but without animated custom genitals" would be a viable concept.

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[Post 215]
Author : Kamilah Hauptmann
Date : 10-13-2022 04:21 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Actual thing in Second Life:
https://i.gyazo.com/dca5a9ef1eb244ffedf894489890675c.png

I did a search for 'pantsuit' on the marketplace and this is what I got: (Mature, but no nudes)
https://i.gyazo.com/722d362d26325ff211ec58794ddaa4a1.png

Also in Second Life you need to make sure your urinal is compatible with your cock: (Again, nothing blatant, but spoilered anyway.)
https://i.gyazo.com/e4fb3b524a62566ccaf2d0fc0f483192.png

I wanted to take a photoshoot in some office backdrops and well, this is what I got for the search string:
https://i.gyazo.com/f3cba5b14a32d6ea36f0e6431377a340.png

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[Post 216]
Author : Kamilah Hauptmann
Date : 10-13-2022 04:23 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Deeply disappointed with this search:

https://i.gyazo.com/3e71a8847284b6c9a2a05616c2b9bfd2.png

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[Post 217]
Author : ShottleBop
Date : 10-13-2022 05:55 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

. . . So I googled IPFS, and after the results for Insurance Premium Financing Solutions, I found out about the InterPlanetary File System protocol, and a link to the website ipfs.io.  That's as far as I got, because I got a THIS CONTENT NOT ALLOWED ON WORK COMPUTER nanny gate when I tried to go there.  Nothing sketch about this, I'm sure. . . . 

I'm not allowed to access GMail or Google Keep on my work computer, in my office.

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[Post 218]
Author : Sock Puppet
Date : 10-13-2022 06:42 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

the blue-chip NFT collections

:laughdie:

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[Post 219]
Author : JoeP
Date : 10-13-2022 08:29 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

. . . So I googled IPFS, and after the results for Insurance Premium Financing Solutions, I found out about the InterPlanetary File System protocol, and a link to the website ipfs.io.  That's as far as I got, because I got a THIS CONTENT NOT ALLOWED ON WORK COMPUTER nanny gate when I tried to go there.  Nothing sketch about this, I'm sure. . . . 

I'm not allowed to access GMail or Google Keep on my work computer, in my office.

Do you work in the 2000's?

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[Post 220]
Author : Kamilah Hauptmann
Date : 10-13-2022 09:00 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

And related on the VR thing:

Eschaton: Do You Even Office, Bro (https://www.eschatonblog.com/2022/10/do-you-even-office-bro.html)

I know I can be a bit of a technology skeptic, and have been wrong a few times on related issues, but I have whittled down my thinking about such things, when they arise, to three basic questions: 

1) What problem is this trying to solve? 

2) Is the solution actually easier/more covenient?

3) Is this technology completely made up (5 years away!)?

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[Post 221]
Author : Ari
Date : 10-13-2022 10:17 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I’ve come to the conclusion that the Musks and Zucks of the world read futuristic techno fiction and instead of it sparking ideas of their own they thought “Yep, let’s make that!” and saw the books as blueprints not fictional tales.

Part of CyberPunk is the idea that corporations have either destroyed or monopolized the real world so that for the vast majority of people the cyber world is their only chance at both escape and advancement. 

They also don’t seem to realize that a lot Cyberpunk VR was meant as metaphor to make it easier for people to grasp interactions, it’s just easier to write a whole bunch of people around a conference table and have it make sense to everyone. It wasn’t like the conference table was pinnacle of meeting designs and the future is just increasing levels of feeling like you’re sitting around a table, until you can’t tell the difference between reality and cyberspace, and yet here we are, Conference table 3.0, now on the blockchain!

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[Post 222]
Author : beyelzu
Date : 10-13-2022 10:26 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Have you seen the community where the dean gets a VR computer operating system?

It&#8217;s pretty delightful.

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[Post 223]
Author : JoeP
Date : 10-14-2022 08:57 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I’ve come to the conclusion that the Musks and Zucks of the world read futuristic techno fiction and instead of it sparking ideas of their own they thought “Yep, let’s make that!” and saw the books as blueprints not fictional tales.

https://i.kym-cdn.com/photos/images/newsfeed/002/386/534/fd2.jpg

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[Post 224]
Author : viscousmemories
Date : 10-14-2022 12:59 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

These two spending an hour lamenting technologist's complexity fetish was very cathartic.

Expert Talk: Managing Complexity in Software • Hadi Hariri & Kevlin Henney • GOTO 2022 - YouTube

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[Post 225]
Author : Ensign Steve
Date : 10-14-2022 07:14 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

@12:50 "I've wasted my life."

:lol: TOO REAL :lol:

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[Post 226]
Author : Kamilah Hauptmann
Date : 10-17-2022 08:44 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Harassment accusation at Ethereum conference triggers wave of online misogyny and racism<br><br>October 11, 2022<a href="https://t.co/9DvpgQQEN8">https://t.co/9DvpgQQEN8</a> <a href="https://t.co/fTDSkhXq6X">pic.twitter.com/fTDSkhXq6X</a></p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1582060986848071680?ref_src=twsrc%5Etfw">October 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

In other news, today ends in Y.

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[Post 227]
Author : JoeP
Date : 10-18-2022 07:53 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Seems like honest signalling. Women and people of colour shouldn't attend blockchain conferences. Nor should white men. No one should.

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[Post 228]
Author : beyelzu
Date : 10-21-2022 09:02 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

https://www.freethought-forum.com/forum/attachment.php?attachmentid=12726&stc=1&d=1666382521

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[Post 229]
Author : Kamilah Hauptmann
Date : 10-24-2022 05:32 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I can&#39;t believe the project promising 43% annual returns turned out to be a Ponzi scheme</p>&mdash; web3 is going just great (@web3isgreat) <a href="https://twitter.com/web3isgreat/status/1584303528683573248?ref_src=twsrc%5Etfw">October 23, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 230]
Author : Kamilah Hauptmann
Date : 11-09-2022 08:41 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">For those who haven&#39;t been following: <br>The world&#39;s 2nd biggest crypto exchange (FTX) just got bought out today by the number 1 (BINANCE), because it was secretly insolvent by over $1 billion and couldn&#39;t cover withdrawals. This is the wildest timeline.</p>&mdash; Coffeezilla (@coffeebreak_YT) <a href="https://twitter.com/coffeebreak_YT/status/1590043685567488000?ref_src=twsrc%5Etfw">November 8, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 231]
Author : specious_reasons
Date : 11-09-2022 09:02 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

How can an exchange be insolvent by that much? 

A fundamental rule of an exchange would be to charge fees for exchange services, and it's a pretty reliable business as long as people are trading - like banks are reliable businesses as long as people put money in banks.

What sort of insanity is a crypto exchange business that they can fuck it up so badly?

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[Post 232]
Author : Kamilah Hauptmann
Date : 11-09-2022 09:13 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

What sort of insanity is a crypto exchange business that they can fuck it up so badly?

I'm hard pressed to not say, oh well, I'll say it. The answer is in the question.

The whole tech bro ecosystem from Musk on down to the common IT pleb, is the belief that questioning everything is good, and if you don't understand the answer, run the experiments over again. See: lack of safety guardrails in a Tesla plant. See: I did my own research on vaccines.

At best it's skepticism. At worst it's the belief that oneself is somehow wiser than the sum total of human knowledge.

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[Post 233]
Author : ChuckF
Date : 11-09-2022 09:53 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">For those who haven't been following: <br>The world's 2nd biggest crypto exchange (FTX) just got bought out today by the number 1 (BINANCE), because it was secretly insolvent by over $1 billion and couldn't cover withdrawals. This is the wildest timeline.</p>&mdash; Coffeezilla (@coffeebreak_YT) <a href="https://twitter.com/coffeebreak_YT/status/1590043685567488000?ref_src=twsrc%5Etfw">November 8, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Hey, fun development: this didn't happen! Binance bailed on the transaction.  BTC  just plummeted past $16k.

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[Post 234]
Author : Kamilah Hauptmann
Date : 11-12-2022 08:53 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">This ad just describes a Ponzi scheme right? Am I going insane how did this run. <a href="https://t.co/gxAIfYcGzm">pic.twitter.com/gxAIfYcGzm</a></p>&mdash; Ryan Mac &#55357;&#56899; (@RMac18) <a href="https://twitter.com/RMac18/status/1591340944955408385?ref_src=twsrc%5Etfw">November 12, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 235]
Author : beyelzu
Date : 11-12-2022 10:14 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Speaking of FTX,

Miami Heat to cut ties with bankrupt FTX, rename arena (https://www.espn.com/nba/story/_/id/35004915/miami-heat-cut-ties-bankrupt-ftx-rename-home-arena?platform=amp)

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[Post 236]
Author : slimshady2357
Date : 11-12-2022 08:00 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Crypto Confidence Soars After CEO Defrauds Customers Just Like Real Bank <a href="https://t.co/GU4C2V23Sd">https://t.co/GU4C2V23Sd</a> <a href="https://t.co/UjjI0NSTot">pic.twitter.com/UjjI0NSTot</a></p>&mdash; The Onion (@TheOnion) <a href="https://twitter.com/TheOnion/status/1591151312808427520?ref_src=twsrc%5Etfw">November 11, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 237]
Author : specious_reasons
Date : 11-12-2022 08:40 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

What sort of insanity is a crypto exchange business that they can fuck it up so badly?

I'm hard pressed to not say, oh well, I'll say it. The answer is in the question.

The whole tech bro ecosystem from Musk on down to the common IT pleb, is the belief that questioning everything is good, and if you don't understand the answer, run the experiments over again. See: lack of safety guardrails in a Tesla plant. See: I did my own research on vaccines.

At best it's skepticism. At worst it's the belief that oneself is somehow wiser than the sum total of human knowledge.

I learned how they fucked it up so badly. The FTX CEO- the one who was trying to put a trustworthy face on crypto! - used the capital held by FTX to cover trades on a crypto trading company also owned by the CEO.

The Crypto Meltdown Could Have Been So Much Worse - The Atlantic (https://www.theatlantic.com/ideas/archive/2022/11/cryptocurrency-bitcoin-market-ftx-bankruptcy/672099/)
The FTX debacle started earlier this month, when Ian Allison at CoinDesk published a story showing that the main asset on the books at Bankman-Fried’s crypto-trading firm, Alameda Research, was a digital token issued by FTX; market watchers took this as evidence that Alameda might be using FTX assets to cover its trades. A drop in the value of the token would imperil both firms, and that drop soon materialized. The chief executive of Binance, one of FTX’s main rivals, announced that Binance was liquidating its holdings of the FTX token. Others followed suit. FTX investors began to pull their money from the exchange, causing a kind of bank run. Binance considered stepping in to support FTX, but pulled out after doing due diligence on the embattled company. After that, the exchange behemoth did not so much collapse as evaporate into thin air.

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[Post 238]
Author : specious_reasons
Date : 11-12-2022 08:43 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The Atlantic article is arguing that the regulators (and Congress) dragged their feet, and the financial companies couldn't get deep into crypto, thus keeping the financial industry from having a crisis when crypto collapsed.

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[Post 239]
Author : Ari
Date : 11-12-2022 10:52 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

It’s ok though, it can’t get any worse…

 More than $600 million was siphoned from FTX's crypto wallets late Friday. Soon after, FTX stated in its official Telegram channel that it had been compromised, instructing users not to install any new upgrades and to delete all FTX apps.

"FTX has been hacked. FTX apps are malware. Delete them. Chat is open. Don't go on FTX site as it might download Trojans," wrote an account administrator in the FTX Support Telegram chat. The message was pinned by FTX General Counsel Ryne Miller.

Hours later, Miller disclosed in a tweet that FTX US and FTX.com had been moving all their digital assets to cold storage because of the Friday bankruptcy. "Process was expedited this evening – to mitigate damage upon observing unauthorized transactions," he said.

FTX Has Been Hacked;: Crypto Disaster Worsens as Exchange Sees Mysterious Outflows Exceeding $600M (https://www.coindesk.com/business/2022/11/12/ftx-crypto-wallets-see-mysterious-late-night-outflows-totalling-more-than-380m/) 
I wonder if they had been sitting on that exploit for some time and realized it was now or never.

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[Post 240]
Author : Kamilah Hauptmann
Date : 11-16-2022 09:31 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Just raised $500m for my new startup that uses AI to detect crypto fraud.<br><br>We don&#8217;t actually use any AI, we just say that everything is fraud and haven&#8217;t been proven wrong yet.</p>&mdash; Chris Bakke (@ChrisJBakke) <a href="https://twitter.com/ChrisJBakke/status/1592709867336536064?ref_src=twsrc%5Etfw">November 16, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 241]
Author : Kamilah Hauptmann
Date : 11-17-2022 07:48 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

All new levels of fraud:

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I just read FTX&#39;s Chapter 11 First Day Affidavit.<br><br>In it, the appointed restructuring CEO John Jay Ray III, who oversaw Enron&#39;s bankruptcy proceedings, calls FTX&#39;s case the worst of his career.<br><br>Its contents are shocking.<br><br>Here are the highlights:<br><br>&#55357;&#56391;</p>&mdash; jonwu.eth (@jonwu_) <a href="https://twitter.com/jonwu_/status/1593262926705487872?ref_src=twsrc%5Etfw">November 17, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 242]
Author : Sock Puppet
Date : 11-17-2022 09:19 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

mmm ... bankruptcy porn ... :homdrool:

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[Post 243]
Author : Stephen Maturin
Date : 11-18-2022 06:34 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:lol:

(1) John Ray is already involved. Here's hoping the Ch. 11 trustee assigned to this case turns out to be the most insufferable prick in human history.

(2) Will FTX be able to pull a National Rifle Association and get its entire bankruptcy case shitcanned as a bad-faith filing? Tune in next week, same bat-time, same bat-channel!

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[Post 244]
Author : beyelzu
Date : 11-19-2022 02:14 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

What sort of insanity is a crypto exchange business that they can fuck it up so badly?

I'm hard pressed to not say, oh well, I'll say it. The answer is in the question.

The whole tech bro ecosystem from Musk on down to the common IT pleb, is the belief that questioning everything is good, and if you don't understand the answer, run the experiments over again. See: lack of safety guardrails in a Tesla plant. See: I did my own research on vaccines.

At best it's skepticism. At worst it's the belief that oneself is somehow wiser than the sum total of human knowledge.

I learned how they fucked it up so badly. The FTX CEO- the one who was trying to put a trustworthy face on crypto! - used the capital held by FTX to cover trades on a crypto trading company also owned by the CEO.

The Crypto Meltdown Could Have Been So Much Worse - The Atlantic (https://www.theatlantic.com/ideas/archive/2022/11/cryptocurrency-bitcoin-market-ftx-bankruptcy/672099/)
The FTX debacle started earlier this month, when Ian Allison at CoinDesk published a story showing that the main asset on the books at Bankman-Fried’s crypto-trading firm, Alameda Research, was a digital token issued by FTX; market watchers took this as evidence that Alameda might be using FTX assets to cover its trades. A drop in the value of the token would imperil both firms, and that drop soon materialized. The chief executive of Binance, one of FTX’s main rivals, announced that Binance was liquidating its holdings of the FTX token. Others followed suit. FTX investors began to pull their money from the exchange, causing a kind of bank run. Binance considered stepping in to support FTX, but pulled out after doing due diligence on the embattled company. After that, the exchange behemoth did not so much collapse as evaporate into thin air.

From the article

 “Kelleher said. He added: “It’s a Ponzi scheme. When there was tulip mania, at least when you lost all your money, you still had a tulip.””

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[Post 245]
Author : beyelzu
Date : 11-19-2022 02:15 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The Atlantic article is arguing that the regulators (and Congress) dragged their feet, and the financial companies couldn't get deep into crypto, thus keeping the financial industry from having a crisis when crypto collapsed.

It seems to me that if ostensibly educated professionals can’t be trusted to invest in a particular market, maybe the general public shouldn’t be able to either.

Big investment firms must be protected from losing their money in the high risk scammy environment is a weird position.  I get that we do it because of the damage that can occur, but I don’t think that should be our primary rationale.

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[Post 246]
Author : Kamilah Hauptmann
Date : 11-19-2022 02:34 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

My gasts have been flabbered just seeing pension plans in the crypto market. Pensions should be among the most conservative investors around.

Me when I hear about retirement savings in places like that:

GET OUT! GET OUT OF THERE! - YouTube

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[Post 247]
Author : Kamilah Hauptmann
Date : 11-19-2022 09:57 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I admit I know very little outside the very narrow domain of giving people a chance not to go to federal prison <a href="https://t.co/rRLtWkUMDn">https://t.co/rRLtWkUMDn</a></p>&mdash; Popehat (@Popehat) <a href="https://twitter.com/Popehat/status/1594047037502541824?ref_src=twsrc%5Etfw">November 19, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 248]
Author : Ari
Date : 12-01-2022 01:34 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

So how’s the whole Crypto thing going? Not good, not good at all. 

This was informative:
FTX Was (And Is) A Complete Mess - YouTube

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[Post 249]
Author : Crumb
Date : 12-02-2022 08:18 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I was weirded out a bit ago when I looked down on my floor and saw this there:

12790

Why was there a paper with the FTX logo on it on my floor? Or really: "Why was it in my house?" It was on the floor because cats. 

Well I picked it up and turned it around...

12789

FTX was advertising in fortune cookies. :giggle: I guess it was probably cheaper than the Super Bowl spots.

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[Post 250]
Author : Kamilah Hauptmann
Date : 12-03-2022 07:08 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Look you&#39;re running a ponzi scheme which also serves as a way for criminals to launder money. And that money disappears. And people start dying. That is the opposite of &quot;weird.&quot; That is: &quot;the only way this would end.&quot; <a href="https://t.co/JcSsNYt9T9">https://t.co/JcSsNYt9T9</a></p>&mdash; Jeet Heer (@HeerJeet) <a href="https://twitter.com/HeerJeet/status/1599091111087087616?ref_src=twsrc%5Etfw">December 3, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 251]
Author : specious_reasons
Date : 12-04-2022 03:04 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I learned how they fucked it up so badly. The FTX CEO- the one who was trying to put a trustworthy face on crypto! - used the capital held by FTX to cover trades on a crypto trading company also owned by the CEO.

The Crypto Meltdown Could Have Been So Much Worse - The Atlantic (https://www.theatlantic.com/ideas/archive/2022/11/cryptocurrency-bitcoin-market-ftx-bankruptcy/672099/)
The FTX debacle started earlier this month, when Ian Allison at CoinDesk published a story showing that the main asset on the books at Bankman-Fried’s crypto-trading firm, Alameda Research, was a digital token issued by FTX; market watchers took this as evidence that Alameda might be using FTX assets to cover its trades. A drop in the value of the token would imperil both firms, and that drop soon materialized. The chief executive of Binance, one of FTX’s main rivals, announced that Binance was liquidating its holdings of the FTX token. Others followed suit. FTX investors began to pull their money from the exchange, causing a kind of bank run. Binance considered stepping in to support FTX, but pulled out after doing due diligence on the embattled company. After that, the exchange behemoth did not so much collapse as evaporate into thin air.

Bolding for emphasis.

I've been reading a bit more on this (my unhealthy fascination with crap must be sated), and there's something that I sort of knew, but didn't really think about it too hard... A lot of news outlets have been calling this "a run on the bank," but FTX wasn't a bank. It explicitly promised the users that their funds were theirs and would not be used for speculation, and that's exactly what FTX did. This was a criminal enterprise from the start. 

FTX's Collapse Was a Crime, Not an Accident (https://www.coindesk.com/layer2/2022/11/30/ftxs-collapse-was-a-crime-not-an-accident/)


They do not (or should not) do bank-style lending, so even a very acute surge of withdrawals should not create a liquidity strain. FTX had specifically promised customers it would never lend out or otherwise use the crypto they entrusted to the exchange.
[...]
In reality, the funds were sent to the intimately linked trading firm Alameda Research, where they were, it seems, simply gambled away. This is, in the simplest terms, theft at a nearly unprecedented scale.

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[Post 252]
Author : Kamilah Hauptmann
Date : 12-06-2022 06:11 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">&quot;He dwelt at length on how doctors erroneously claimed in the early days of the railways that the rattling of trains was likely to cause sexual excitement, and something about nuclear-powered vacuum cleaners.&quot;<br><br>Boris does blockchain. Predictable results.<a href="https://t.co/cI9e2HmISM">https://t.co/cI9e2HmISM</a></p>&mdash; Katie Martin (@katie_martin_fx) <a href="https://twitter.com/katie_martin_fx/status/1600110945870585863?ref_src=twsrc%5Etfw">December 6, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

:popcorn:

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[Post 253]
Author : fragment
Date : 12-08-2022 10:43 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

FTX-hosted NFTs break after website is redirected to a restructuring page (https://web3isgoinggreat.com/?id=ftx-hosted-nfts-break-after-website-is-redirected-to-a-restructuring-page)

After FTX declared bankruptcy, the entire FTX.us domain was redirected to a page providing information on the bankruptcy proceedings.

However, NFTs that had been minted on the FTX platform relied on metadata from an API at that domain, meaning that the NFTs are now pointing to broken links. Owners of these NFTs can still see that the NFT exists, but images no longer work—even when viewing the NFTs in their own wallets, or when listing them for sale on other platforms.

:lolfruits:

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[Post 254]
Author : Crumb
Date : 12-08-2022 03:09 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Too bad no one warned them about that.

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[Post 255]
Author : Ensign Steve
Date : 12-08-2022 04:33 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

It was unforeseeable. :blank:

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[Post 256]
Author : Kamilah Hauptmann
Date : 12-10-2022 05:49 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">SBF just suggested creating another Ponzi token scheme to payoff the earlier victims of his first Ponzi scheme. &#55357;&#56613; <br><br>Ht <a href="https://twitter.com/alifarhat79?ref_src=twsrc%5Etfw">@alifarhat79</a> <a href="https://t.co/XpRvGOy7Nb">pic.twitter.com/XpRvGOy7Nb</a></p>&mdash; Wall Street Silver (@WallStreetSilv) <a href="https://twitter.com/WallStreetSilv/status/1601212548619329537?ref_src=twsrc%5Etfw">December 9, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 257]
Author : specious_reasons
Date : 12-13-2022 04:22 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Bankman-Fried arrested in the Bahamas (https://apnews.com/article/technology-business-bahamas-united-states-government-1de16cdf7e6956b401e998c34ad1fd11)

The former CEO of failed cryptocurrency firm FTX, Sam Bankman-Fried, has been arrested in the Bahamas at the request of the U.S. government, U.S. and Bahamian authorities said Monday.

The arrest was made Monday after the U.S. filed criminal charges that are expected to be unsealed Tuesday, according to U.S. Attorney Damian Williams. Bankman-Fried had been under criminal investigation by U.S. and Bahamian authorities following the collapse last month of FTX. 

Whatever he thought he was doing by going on so many interviews didn't work, or at least didn't keep him from being arrested.

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[Post 258]
Author : ChuckF
Date : 12-13-2022 10:33 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Exclusive Transcript: The Full Testimony Bankman-Fried Planned To Give To Congress (https://www.forbes.com/sites/stevenehrlich/2022/12/13/exclusive-transcript-the-full-testimony-sbf-planned-to-give-to-congress/?sh=18c02d773c47)

This is pretty incredible. Sort of awe-inspiring in its awfulness. He is trying mightily to contort himself into the Trump/Kavanaugh/Rittenhouse mold of the whining white man, but fails. I wish he'd actually given this testimony, but being arrested before he was able to do so might turn out to be better for him in the long run.

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[Post 259]
Author : Ari
Date : 12-13-2022 11:15 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Oh my, the phrase “Why ask for permission when you can ask for forgiveness.” comes to mind when reading that. He seems to want cop to lesser crimes under the idea that he’s just some kid in over his head and he’s sorry about that.

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[Post 260]
Author : fragment
Date : 12-13-2022 11:20 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

the password to my LinkedIn account still hasn't been returned
:unmonocle:

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[Post 261]
Author : specious_reasons
Date : 12-14-2022 12:10 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

It's pretty incredible. There's this through-line of "I had people still willing to invest in FTX, and they totally would have given us liquidity and saved the company. I never should have let this go to Chapter 11." I have trouble believing this is actually true, I think, if these investors are real, their interest would evaporate as soon as they saw the books.

There's also this petulant child thing as pointed out by previous posters. He wants to make  John Ray some sort of bad guy. Bankman-Fried recalls how he left messages, "I have information, call me back," and Ray never did. :( If he was so interested in helping the company and providing this information, he should have just handed it over.

I'm also not surprised he didn't bother to respond. Ray's job isn't to find new angel investors and rebuild FTX. His job is unwind the company's assets and return as much as he can back to the stakeholders. Bankman-Fried is still trying to sell the con.

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[Post 262]
Author : Kamilah Hauptmann
Date : 12-14-2022 01:29 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

With names like Bankman-Fried frying &#8220;banks&#8221; I can&#8217;t help but be reminded of the living in a simulation idea.

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[Post 263]
Author : Kamilah Hauptmann
Date : 12-14-2022 04:15 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Iconic photograph. Wow. <a href="https://t.co/aT9txuR9or">pic.twitter.com/aT9txuR9or</a></p>&mdash; Autism Capital &#55358;&#56809; (@AutismCapital) <a href="https://twitter.com/AutismCapital/status/1602804727250817024?ref_src=twsrc%5Etfw">December 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">From the penthouse to Fox Hill prison. This is Shakespearean.</p>&mdash; Autism Capital &#55358;&#56809; (@AutismCapital) <a href="https://twitter.com/AutismCapital/status/1602789764964360194?ref_src=twsrc%5Etfw">December 13, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 264]
Author : specious_reasons
Date : 12-14-2022 07:11 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Bankman-Fried allowed Bahamian people to withdraw from FTX in the 24 hours between the bankruptcy and him losing his position as CEO. I wonder if he did this for self-preservation reasons.

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[Post 265]
Author : Kamilah Hauptmann
Date : 12-14-2022 08:04 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Sam Bankman-Fried didn't kill himself.

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[Post 266]
Author : Ari
Date : 12-14-2022 07:51 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Bankman-Fried allowed Bahamian people to withdraw from FTX in the 24 hours between the bankruptcy and him losing his position as CEO. I wonder if he did this for self-preservation reasons.
I’ve been devouring youtube videos on the subject, and one thing not being talked about enough in the news is Alameda Research, a group of ten people including Fried in the Bahamas that had one way backdoor access to FTX to manipulate things. AR is both pretty complex and quite disorganized in a manner that makes me think they left the exchange open longer specifically to give AR more time.

I’m also leaning towards the ‘hack’ that lost a bunch of money right before the shutdown being someone from Alameda Research that was purposefully sitting on or developed an exploit.

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[Post 267]
Author : beyelzu
Date : 12-15-2022 11:05 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

You know what they say: if you do something wrong, delete all the evidence as quickly as possible. Or, if you have one, get your assistant to do it, as we imagine someone as rich, famous, and probably embarrassed as forcibly retired FTX ambassador and un-forcibly un-retired NFL quarterback Tom Brady probably would.
Gawker has confirmed that in the wake of the FTX implosion, the decorated athlete has deleted all Twitter evidence of his partnership with the embattled cryptocurrency exchange, for whom he and his soon-to-be-ex-wife, Gisele Bündchen, were public — and equity-paid — faces.

Brady is a piece of shit but lots of athletes  and other famous people pushed the Ponzi coins as well.

Celebrities Frantically Deleting Tweets Shilling FTX Before Its Collapse (https://futurism.com/the-byte/celebrities-deleting-tweets-shilling-ftx)

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[Post 268]
Author : Kamilah Hauptmann
Date : 12-15-2022 11:28 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

They did invoicing with Quickbooks and Slack messaging.

The Easiest Criminal Indictment Ever - The American Prospect (https://prospect.org/power/ftx-bankman-fried-easiest-criminal-indictment-ever/)

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[Post 269]
Author : viscousmemories
Date : 12-16-2022 12:12 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I saw a short/reel/tiktok/whocankeeptrack yesterday of Shark Tank's "Mr. Wonderful" testifying that it is his belief that Binance engineered FTXs downfall and I haven't been following closely enough to evaluate the claim but I feel like it has been vastly underreported/advertised that Mr. Shark Tank seems to have been so deeply involved in this clusterfuck.

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[Post 270]
Author : beyelzu
Date : 12-16-2022 12:34 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

So I don’t know what you saw, of course, but I looked about and found a story about it.

 Binance, the world’s biggest cryptocurrency exchange, played an early part in the collapse of mega exchange FTX last month. Binance CEO Changpeng “CZ” Zhao announced that he would be selling the exchanges holdings of FTX’s native token, a move that triggered a liquidity crisis. Days later, FTX filed for bankruptcy. 

Binance Deliberately Caused FTX Collapse: Kevin O’Leary - Decrypt (https://decrypt.co/117270/binance-deliberately-caused-ftx-collapse-kevin-oleary)


If that’s his reasoning then I’d say the claim is garbage.

Exchanges aren’t banks and it was only possible to have a liquidity crisis because of all the Ponzi scheming/fraud they were doing as specious reasons talks about upthread.

I mean if your competition fucked you over because they realized you were frauding, Im not sure it’s their fault.

Also, Zhao has fucking scoreboard.  He thought FTX was a shit asset and was correct.

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[Post 271]
Author : specious_reasons
Date : 12-16-2022 01:54 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Shark Tank guy might also be doing some light xenophobia.

It&#8217;s possible, even likely, that Binance was doing things that may have been anti-competitive to put FTX in trouble. If they were, it appears to be with the intent of acquiring the business. FTX was such a fraudulent company that Binance backed out of their offer.

At most, Binance was the gust of wind that finally knocked down the house of cards.

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[Post 272]
Author : viscousmemories
Date : 12-16-2022 09:42 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Found it!

https://www.tiktok.com/@cnbc/video/7177054980338339118

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[Post 273]
Author : specious_reasons
Date : 12-16-2022 10:43 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Interesting.  It sounds like a lie, also a bit of xenophobia.

How does a ~20% shareholder have an ability to block FTX's ability to comply with regulations? Whose funds did Bankman-Fried use to buy out Zhao/Binance?

If any of this was true, Bankman-Fried for all his "genius" was out-maneuvered by Zhao. I'll bet he was initially super excited to sell FTT to Zhao because that brought real cash into FTX and kept the con going. His own (probably fraudulent) business practices made the company illiquid after Zhao sold off his FTT holdings.

One thing I think O'Leary is correct on: regulation is the holy grail for these crypto companies. Most institutionalized investors can't even consider investment in crypto because it's an unregulated market.  But based on everything we know, FTX wasn't even close to being in any kind of compliance.

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[Post 274]
Author : Ari
Date : 12-16-2022 11:41 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

From my not an economist understanding this really started because of this CoinDesk article:

Divisions in Sam Bankman-Fried&#8217;s Crypto Empire Blur on His Trading Titan Alameda&#8217;s Balance Sheet (https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/)

Essentially FTX&#8217;s value was looking like it was backed by Alemeda Research, who in turn was backed by FTX&#8217;s token. It&#8217;s possible CZ had other hints things were going south, but once it looked like the company was built on a foundation of circular logic he pulled his money, which then created a bank run that FTX should have been able to handle if it was the stable platform it claimed.

Frankly the only smart looking person here (besides all those that chose not to play) is CZ who seems to be the first one to act to protect his money as soon as things got fishy, while also dealing a potential blow to the competition, everyone else really believed FTX was taking them to the moon on empty promises, case in point,

&#8220; Mr. Wonderful [shark tank guy] has signed a multi-year deal to serve as a brand ambassador and spokesperson for FTX and will be paid in crypto assets and take an equity stake in FTX.&#8221;
Shark Tank Kevin O Leary becomes FTX spokesperson, will be paid in crypto (https://cointelegraph.com/news/shark-tank-s-kevin-o-leary-becomes-ftx-spokesperson-will-be-paid-in-crypto)

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[Post 275]
Author : Kamilah Hauptmann
Date : 12-17-2022 07:54 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Binance next? (https://archive.vn/DGfCg)


Outflows from Binance accelerated to $6bn in the first half of this week, while accounting firm Mazars has halted its work on crucial “proof of reserves” reporting, as the crypto exchange battles to avert a crisis of confidence.

From Hacker News:
https://i.gyazo.com/a6c7a423c74159f46043dad5cc88d179.png
and
All of the above and:

5) Binance does significant money laundering for Iran and Russia, so any complete picture of their balance sheet would invite sanctions and international retribution.

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[Post 276]
Author : specious_reasons
Date : 12-17-2022 08:37 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I generally don't know shit about the big players in crypto, so I've been wondering if Binance is doomed, too. It seems that anyone who wants to run a crypto exchange is incompetent, dishonest, or both.

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[Post 277]
Author : Ari
Date : 12-23-2022 02:02 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Where others at Alameda Research have been has been partly answered, talking to the feds. Both Caroline Ellison and Gary Wang have pled guilty to a whole set of crimes that could bring a max of 110 years of Ellison, which probably explains why she’s cooperating.

Meanwhile SBF has been released into the custody of his very rich parents who appear to have put up their house to pay his $250M bail bond.

Caroline Ellison Was Told by SBF to Manipulate FTX, Alameda Financials: SEC (https://markets.businessinsider.com/news/currencies/caroline-ellison-blamed-ftx-downfall-on-sbf-legal-documents-show-2022-12)

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[Post 278]
Author : Basset Hound
Date : 12-24-2022 05:12 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Instead of buying bitcoin, buy tulips.  They're pretty and your rabbits will eat them

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[Post 279]
Author : ceptimus
Date : 12-24-2022 12:45 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

At least when the bottom fell out of the tulip mania bubble, those who invested in it still had their tulips.

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[Post 280]
Author : Ari
Date : 12-24-2022 03:22 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

At least they&#8217;re not disgusting apes!
:ovation:

Tulip investors are probably having a little dance in their grave, now that they&#8217;re known as the smart ones in comparison.

In the SBF case the real story seems to be whatever magical Jedi power SBF has to mesmerize people into believing him, because everything is pointing to him being the mastermind and a lot of people from the team at Alameda Research to Shark Tank guy just said &#8220;Yes, of course! I don&#8217;t need to see your paperwork/plan I trust you!&#8221; A whole bunch of people took money to tell everyone FTX was legit without anyone seemingly checking to see if FTX was legit (or in AR&#8217;s case that there was some sort of 4D chess master plan, beyond, lie and hope no one checks.)

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[Post 281]
Author : Kamilah Hauptmann
Date : 12-28-2022 07:00 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

U.S. charges fraud in Mango crypto manipulation case | Reuters (https://www.reuters.com/legal/us-charges-accused-mango-crypto-manipulator-with-fraud-2022-12-27/)

https://imgs.xkcd.com/comics/insurance.png

"Anything possible is permissible."

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">I believe all of our actions were legal open market actions, using the protocol as designed, even if the development team did not fully anticipate all the consequences of setting parameters the way they are.</p>&mdash; Avraham Eisenberg (@avi_eisen) <a href="https://twitter.com/avi_eisen/status/1581326199682265088?ref_src=twsrc%5Etfw">October 15, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 282]
Author : davidm
Date : 12-28-2022 09:09 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I haven’t had a chance to actually read this thrad so maybe this ground has been covered. I would appreciate advice.

I have an Instagram page for my artwork and frequently sell pieces IRL. However, on Instagram, I now have four different people saying they want to buy my work as NFTs for what I consider to be astronomical sums — the latest mentioned is $40,000. I haven’t the patience or turn of mind to really investigate all this crap, and I have several friends telling me it’s a scam. But I can’t quite wrap my mind around what the scam is supposed to be, exactly. They want me to register at certain NFT markets online where they say they will buy the work using virtual money. I prefer real money, but I have to assume virtual money is somehow readily convertible into real money? I do read you have to pay a fee (they call it “gas”) to get the ball rolling after regristration, so that is an immediate flaming red flag, but the fee is nothing compared to the money being offered IF they actually buy. And, why would they offer to buy, if they aren’t really interested in buying?

Botton line: Does anyone know the botton line on all this stuff?

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[Post 283]
Author : Ari
Date : 12-28-2022 09:49 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I don’t know the bottom line, but do know that some coins are harder to convert to real currency than others, and since it’s mostly speculative, they need real money in, to get their money out, so they may be just trying to get you buying into the system. It might also be hard enough to pull money out into USD that they have a bunch in the system and are looking for things to buy using it.

Eitherway IMO I would look at GAS fees and the like and see if they are willing to pay the fees beforehand in a legit manner, in legit currency, to be taken off the block chain price once it’s an NFT.

I presume those looking to con rather than enjoy artwork will either go silent at the talk of non crypto-currency or suggest one of the more sus manners of transferring USD instead of something tried and true like paypal.

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[Post 284]
Author : davidm
Date : 12-28-2022 10:13 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I don’t know the bottom line, but do know that some coins are harder to convert to real currency than others, and since it’s mostly speculative, they need real money in, to get their money out, so they may be just trying to get you buying into the system. It might also be hard enough to pull money out into USD that they have a bunch in the system and are looking for things to buy using it.

Eitherway IMO I would look at GAS fees and the like and see if they are willing to pay the fees beforehand in a legit manner, in legit currency, to be taken off the block chain price once it’s an NFT.

I presume those looking to con rather than enjoy artwork will either go silent at the talk of non crypto-currency or suggest one of the more sus manners of transferring USD instead of something tried and true like paypal.

I already checked out the two different NFT platorms separate potential buyers named and both are rated SCAM by some online scam alert place. So I guess I won’t be trying to get that 40 grand after all. :cry:

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[Post 285]
Author : Kamilah Hauptmann
Date : 12-28-2022 10:42 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Definitely smells like some sort of fake cheque or crypto scam. 

I&#8217;d post that on r/scams reddit and I&#8217;m sure someone will have a detailed answer.

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[Post 286]
Author : davidm
Date : 12-28-2022 10:50 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Definitely smells like some sort of fake cheque or crypto scam. 

I’d post that on r/scams reddit and I’m sure someone will have a detailed answer.

I’ll check out the reddit. I’m sure this is a scam but it’s hard to figure out what they’re after except the “gas” fee, which someone wrote somewhere is 300 bucks. I suppose if they get a lot of signups that 300 bucks can turn into real money for them.

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[Post 287]
Author : Kamilah Hauptmann
Date : 12-28-2022 11:08 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I&#8217;ll hazard a guess here that if these crooks really wanted to launch NFTs they&#8217;d have just done it without asking. I suspect they&#8217;re testing you along with thousands of other Instagram artists. And once you hand them one advance fee (it&#8217;s not exactly an advance fee scam) their hands will be out for more. They&#8217;ll sell your name as an active patsy. The recovery scammers will line up promising to get you your money back for a never ending chain of fees. And your contact info will turn into an eternal sewer of automated scam attempts, forever. So yeah, don&#8217;t even reply for that reason. Stay safe out there.

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[Post 288]
Author : specious_reasons
Date : 12-29-2022 01:54 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

My suspicion is that none of it is legitimate - even the ones that are acting as honestly as they can. Do you really want any of your creations legally entangled with an NFT?

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[Post 289]
Author : specious_reasons
Date : 12-29-2022 01:59 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Oh, and :hisign2: davidm!

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[Post 290]
Author : davidm
Date : 12-29-2022 02:20 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I’ll hazard a guess here that if these crooks really wanted to launch NFTs they’d have just done it without asking. I suspect they’re testing you along with thousands of other Instagram artists. And once you hand them one advance fee (it’s not exactly an advance fee scam) their hands will be out for more. They’ll sell your name as an active patsy. The recovery scammers will line up promising to get you your money back for a never ending chain of fees. And your contact info will turn into an eternal sewer of automated scam attempts, forever. So yeah, don’t even reply for that reason. Stay safe out there.

I’m not going to pay them anything. :nope:

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[Post 291]
Author : davidm
Date : 12-29-2022 02:27 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:wave: @ specious_reasons. 

When I tried quoting your post to reply, I got the dread 403 Forbidden notice. What’s up with that? :chin:

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[Post 292]
Author : specious_reasons
Date : 12-29-2022 03:48 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:wave: @ specious_reasons. 

When I tried quoting your post to reply, I got the dread 403 Forbidden notice. What’s up with that? :chin:

Don't know. vBulletin lost your cookie when generating the reply?

I followed you on Instagram. Don't know much about abstract art, but a few caught my eye. I wonder if some of the NFT people contacted you because they think you could procedurally generate the art and thus create large numbers of similar work.

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[Post 293]
Author : JoeP
Date : 12-29-2022 07:52 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Midas Investments shuts down, taking over 55% of customers' funds  (https://www.kitco.com/news/2022-12-28/Midas-Investments-shuts-down-taking-over-55-of-customers-funds.html)

Another tragic, innocent organisation suffering.

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[Post 294]
Author : slimshady2357
Date : 12-29-2022 09:08 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Definitely smells like some sort of fake cheque or crypto scam. 

I’d post that on r/scams reddit and I’m sure someone will have a detailed answer.

I’ll check out the reddit. I’m sure this is a scam but it’s hard to figure out what they’re after except the “gas” fee, which someone wrote somewhere is 300 bucks. I suppose if they get a lot of signups that 300 bucks can turn into real money for them.
The gas fee is the fee paid to make a transaction on ethereum. The people doing the NFT thing don't get that fee, the miners get it. I'm not saying it isn't a scam, just that they can't be collecting the gas fee. Maybe they are calling something else 'gas' that they want you to pay them, just to confuse things? Anyway, it's likely a scam.

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[Post 295]
Author : Kamilah Hauptmann
Date : 12-29-2022 07:56 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Investors convert 'totally worthless' NFTs into tax write-offs | Non-fungible tokens (NFTs) | The Guardian (https://www.theguardian.com/technology/2022/dec/29/unsellable-worthless-nfts-tax-write-off)

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[Post 296]
Author : specious_reasons
Date : 12-29-2022 08:37 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Investors convert 'totally worthless' NFTs into tax write-offs | Non-fungible tokens (NFTs) | The Guardian (https://www.theguardian.com/technology/2022/dec/29/unsellable-worthless-nfts-tax-write-off)

The Unsellable collection, a rest home for worthless NFTs:
https://opensea.io/theunsellablecollection

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[Post 297]
Author : specious_reasons
Date : 12-29-2022 09:02 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Truly, I don't know how these endeavors didn't gain in value!

12828

This was bought for roughly $1,200 USD (by today's conversion rates). I hope this NFT had some sort of benefit other than the artistic merit.

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[Post 298]
Author : Kamilah Hauptmann
Date : 12-29-2022 10:54 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Truly, I don't know how these endeavors didn't gain in value!

12828

This was bought for roughly $1,200 USD (by today's conversion rates). I hope this NFT had some sort of benefit other than the artistic merit.

I can get me a pack of new forum avatars for $0.02 it seems.

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[Post 299]
Author : Ari
Date : 01-15-2023 07:30 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Having really no idea who Shark Tank Guy is, this whole series was interesting, this is part 3 as it’s the relevant one to the thread,
DEBUNKING KEVIN O'LEARY -  Part 3 FINALE (WonderFi, FTX) - YouTube

a Highlight From part 2, 
“The combined wealth of the worlds 85 riches people is equal to the 3.5 billion poorest people.” 

“It’s fantastic and this is a great thing because it inspires everybody, gets them motivation to look up to the one percent and say, ‘I want to become one of those people, I’m going to fight hard to get up to the top.’” - O’Leary

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[Post 300]
Author : Kamilah Hauptmann
Date : 01-15-2023 10:03 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Having really no idea who Shark Tank Guy is

He tried out to be the leader of the Conservative Party of Canada (https://www.bnnbloomberg.ca/kevin-o-leary-officially-joins-conservative-leadership-race-1.652519) by acting like the worst type of American (https://www.vice.com/en/article/9addqp/kevin-oleary-posted-shooting-range-video-during-quebec-mosque-victims-funeral) then went on to endorse the guy who formed his own party (https://www.cbc.ca/news/politics/kevin-oleary-drops-out-endorses-bernier-1.4086583) because the CPC wasn't racist enough (https://en.wikipedia.org/wiki/People%27s_Party_of_Canada).

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[Post 301]
Author : viscousmemories
Date : 01-16-2023 11:41 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I've watched quite a lot of Shark Tank and only know him from there, where he portrays himself as a high-culture Scrooge McDuck character with the nickname "Mr. Wonderful".

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[Post 302]
Author : ChuckF
Date : 01-31-2023 11:19 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

BCH liquidated. Final performance: -5.7%. 
I forgot that I will get a 1099 for this stupid experiment and will have to put it on my Schedule D.

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[Post 303]
Author : Stephen Maturin
Date : 02-02-2023 02:46 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:pointlaugh: https://www.freethought-forum.com/forum/images/avatars/avatar318_3.gif

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[Post 304]
Author : Sock Puppet
Date : 02-02-2023 08:26 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

But think of the several pennies you'll be able to deduct from your taxable income!

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[Post 305]
Author : JoeP
Date : 02-03-2023 07:41 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

But think of the several cryptopennies you'll be able to deduct from your taxable income!

:fixed:

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[Post 306]
Author : Ari
Date : 03-27-2023 09:25 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The Future is a Dead Mall - Decentraland and the Metaverse - YouTube

Born too late to do a colonialism? Angry all the good land is taken and you’re being oppressed instead of being the oppressor? What if you could get in on the ground floor of the real estate scheme? Decentraland is for you!

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[Post 307]
Author : Kamilah Hauptmann
Date : 03-27-2023 09:56 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I dunno, I have a beautiful little parcel along a Second Life roadside with water access for boating, right next to a noob help centre. Once in awhile someone asks me for help from the centre, or someone stumbles over and says hello. We chat a bit. I've had two blithering dolts come by in a decade. It's two clicks to eject and ban.

My other neighbours are lovely.

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[Post 308]
Author : specious_reasons
Date : 03-29-2023 12:25 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Born too late to do a colonialism? Angry all the good land is taken and you’re being oppressed instead of being the oppressor? What if you could get in on the ground floor of the real estate scheme? Decentraland is for you!

Finally got around to watching this video. Decentraland looks terrible, like Everquest is a better Metaverse.

Speaking of which, back when it was released, I got Synthetic Worlds by Edward Castronova for my Dad (he liked various MMORPGs, played Everquest and a few others), I remember finding it interesting, but more because it was asking interesting questions than having any accuracy predicting the future. I don't remember much about it, and I doubt it's very useful now.

I will probably not be in the Metaverse, ever. I like playing solo games, not online multiplayer ones, and when I joined these MMORPGs, I had a tendency to only play with family.

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[Post 309]
Author : slimshady2357
Date : 04-03-2023 09:08 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Looks like Musk is pumping Dogecoin again. :mlpfacepalm:

He's changed the twitter logo to the Doge :doge:

https://www.freethought-forum.com/forum/attachment.php?attachmentid=12893&d=1680552400

https://www.freethought-forum.com/forum/attachment.php?attachmentid=12892&d=1680552303


12893
12892

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[Post 310]
Author : Kamilah Hauptmann
Date : 08-12-2023 12:28 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

U.S. judge sends FTX’s Sam Bankman-Fried to jail over witness tampering (https://www.cnbc.com/2023/08/11/us-judge-sends-sam-bankman-fried-to-jail-over-witness-tampering.html)

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[Post 311]
Author : Kamilah Hauptmann
Date : 08-18-2023 02:28 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Tulip market crashed. (https://arstechnica.com/tech-policy/2023/08/buyers-of-bored-ape-nfts-sue-after-digital-apes-turn-out-to-be-bad-investment/)

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[Post 312]
Author : Kamilah Hauptmann
Date : 08-18-2023 04:06 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

So it&#8217;s more complex than that.

Sam Bankman-Fried was buying it from himself with increasing amounts to fake a demand before selling apes for more than he paid for them.

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[Post 313]
Author : Ari
Date : 08-18-2023 04:56 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

This sounds oh so familiarly like the Video game grading con that collapsed last year, after it was discovered that the grading company was financing the insane auction prices of ‘rare’ games graded by them to trick whales into buying cheap games and to convince game owners to pay them to grade their games in hopes of finding a rare gem that auctions for millions.

I swear one of the reasons libertarians push for deregulation is so they can use the same scam in different markets.

Game grading firm Wata hit with lawsuit for "manipulating" retro market (https://www.nme.com/news/gaming-news/game-grading-firm-wata-hit-with-lawsuit-for-manipulating-retro-market-3225137)

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[Post 314]
Author : Kamilah Hauptmann
Date : 08-18-2023 05:01 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Predatory libertarians?

Then there&#8217;s the sucker libertarians who get conned and are all &#8220;Government! Right this injustice!&#8221;

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[Post 315]
Author : Kamilah Hauptmann
Date : 09-08-2023 05:27 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Boss of Collapsed Turkish Crypto Exchange Thodex Sentenced to 11,196 Years in Prison (https://www.coindesk.com/policy/2023/09/08/11196-years-in-prison-for-faruk-ozer-ceo-of-collapsed-turkish-crypto-exchange-thodex/)

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[Post 316]
Author : michio
Date : 09-09-2023 09:04 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Born too late to do a colonialism? Angry all the good land is taken and you&#8217;re being oppressed instead of being the oppressor? What if you could get in on the ground floor of the real estate scheme? Decentraland is for you!

Finally got around to watching this video. Decentraland looks terrible, like Everquest is a better Metaverse.

Speaking of which, back when it was released, I got Synthetic Worlds by Edward Castronova for my Dad (he liked various MMORPGs, played Everquest and a few others), I remember finding it interesting, but more because it was asking interesting questions than having any accuracy predicting the future. I don't remember much about it, and I doubt it's very useful now.

I will probably not be in the Metaverse, ever. I like playing solo games, not online multiplayer ones, and when I joined these MMORPGs, I had a tendency to only play with family.

I think the hardware technology just isn't there. There's too many annoying things you have to do to hop into virtual reality. The headsets are too bulky, the controls kind of suck, and the overall processing power you get for the price isn't worth it, our battery technology isn't good enough to make them highly mobile. All these little barriers prevent mass adoption.

I will say every time I've tried VR has been ridiculously immersive even if I'm playing a shitty basic game or something. If it was more convenient to use VR tech and there was an actual productive reason to use it over a PC or cellphone, it could catch on.

I think Apple made a really good move with the Apple Vision Pro, and when that releases, it might push more mass adoption of VR tech in general. With Apple Vision they're really emphasizing AR and a big part of that was showing how easy it is to do all the things you already do now, except it's way fucking cooler and in many cases (according to their marketing), even better than using a regular PC or cellphone. In their launch showcase, they showed how Apple Vision can potentially replace ALL of your devices. We already have PCs and cellphones and other gadgets. Adding another bulky annoying VR device that is a toy that doesn't do anything useful is too cumbersome and annoying. 

The marketing for other headsets has been pretty shitty and there's no obvious ecosystem to connect it with your other devices, and if there is, then marketing needs to do better and show me. 

I think Meta messed up with the price point too. $500 is of course not going to get you any kind of powerful computing device, so you end up in the mEtAvErSe except it's a joke because the graphics look like some dogshit from 2003. Apple is the right company to take over with an AR/VR device because they can get away with selling a $3500 gadget without anyone flinching, and because the device is so much more expensive, they can put in very good hardware that can actually do useful things. 

I'm actually planning on buying one once the technology is a little better (whatever version 2 will be) because they showed how you can do coding in AR with multiple virtual displays which looked like some incredible sci-fi shit. The flexibility of virtual displays, potentially collaborating with multiple people that are using an Apple Vision nearby could greatly increase productivity instead of being just a gimmick.  And at $3500, I know the device will be able to handle that.

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[Post 317]
Author : Kamilah Hauptmann
Date : 09-20-2023 09:32 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

SBF's parents were given $16.4M house paid for entirely by FTX, lawsuit says | Ars Technica (https://arstechnica.com/tech-policy/2023/09/sbfs-parents-were-given-16-4m-house-paid-for-entirely-by-ftx-lawsuit-says/)

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[Post 318]
Author : viscousmemories
Date : 09-21-2023 01:21 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Something about apples and trees.

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[Post 319]
Author : ChuckF
Date : 09-21-2023 03:03 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Oh, in the Bahamas. I thought maybe he bought them a 2BA/2BR in Palo Alto.

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[Post 320]
Author : Ari
Date : 09-21-2023 09:25 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

A new study says that anyone who hasn’t found a greater fool to sell their NFT to, is the greater fool.
“Dead NFTs: The Evolving Landscape of the NFT Market” is a new report from dappGambl, a community of experts in finance and blockchain technology. Upon analysis of 73,257 NFT collections, the authors found that 69,795 have a market cap of zero Ether (ETH), the second most-popular cryptocurrency behind Bitcoin. In practical terms, that means 95 percent of NFTs wouldn’t fetch a penny today — a spectacular crash for assets that reached a trading volume of $17 billion amid a frenzied bull market in 2021. The study estimates that some 23 million investors own these tokens of no practical use or value.

What’s more, supply vastly outstripped demand for NFTs. Just 21 percent of the collections included in the study can claim full ownership, meaning around four out of every five collections remains unsold. With buyers becoming more discerning, the report notes, “projects that lack clear use cases, compelling narratives, or genuine artistic value are finding it increasingly difficult to attract attention and sales.” 

And, while headlines during the heyday of NFT speculation focused on individual pieces that sold for the equivalent of millions of dollars in crypto, almost none are so exorbitantly priced today. Less than one percent are listed at more than $6,000, and the bulk of the most expensive collections are priced between $5 and $100. Almost a fifth of the “top” collections have a floor price of zero. Even among the more expensive NFTs, the report notes, such prices may be set “without any bearing on tangible, real demand,” reflecting wishful thinking from sellers and potentially distorting investors’ view of an NFT’s meager inherent value.

NFTs Almost Completely Worthless, Crypto Researchers Find &#8211; Rolling Stone (https://www.rollingstone.com/culture/culture-news/nfts-worthless-researchers-find-1234828767/)

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[Post 321]
Author : Kamilah Hauptmann
Date : 09-21-2023 10:20 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I&#8217;d like to see some comparative data on how many suckers were in the Netherlands this tulip run.

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[Post 322]
Author : Ensign Steve
Date : 09-22-2023 07:32 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Oh, in the Bahamas. I thought maybe he bought them a 2BA/2BR in Palo Alto.

I'm right here.

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[Post 323]
Author : specious_reasons
Date : 10-06-2023 11:00 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Have we talked about Michael Lewis yet? He's got a new book out now, Going Infinite: The Rise and Fall of a New Tycoon only it's surprisingly positive on Bankman-Fried and the FTX fraud. It seems that Lewis started this book before the collapse, shadowing him for a time in the Bahamas and drinking the Rum Punch.

I'm looking forward to not reading this.

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[Post 324]
Author : viscousmemories
Date : 10-07-2023 01:06 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Interesting. I wonder if the proximity to absurd wealth has corrupted him. 

On the topic of crypto-related books, I read The Politics of Bitcoin, by David Golumbia, and it was a good analysis of the right-wing politics foundational to crypto.

From Amazon's blurb:

Since its introduction in 2009, Bitcoin has been widely promoted as a digital currency that will revolutionize everything from online commerce to the nation-state. Yet supporters of Bitcoin and its blockchain technology subscribe to a form of cyberlibertarianism that depends to a surprising extent on far-right political thought. The Politics of Bitcoin exposes how much of the economic and political thought on which this cryptocurrency is based emerges from ideas that travel the gamut, from Milton Friedman, F.A. Hayek, and Ludwig von Mises to Federal Reserve conspiracy theorists.

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[Post 325]
Author : specious_reasons
Date : 10-07-2023 07:12 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Interesting. I wonder if the proximity to absurd wealth has corrupted him. 


That or whatever weird vibes coming off of Bankman-Fried is just that compelling to some people. 

This 60 minutes interview is baffling. Here he is post-FTX collapse, rhapsodizing about this wunderkind who no one understands. 

Rise, fall of Sam Bankman-Fried, FTX at center of Michael Lewis&#39; new book | 60 Minutes - YouTube

The most egregious statement is “What you’re doing is possibly losing some money that belonged to crypto speculators in the Bahamas.” This is just false, I don't know how he got that line, but it's truly awful.

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[Post 326]
Author : fragment
Date : 10-07-2023 11:02 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

On the topic of crypto-related books, I read The Politics of Bitcoin, by David Golumbia, and it was a good analysis of the right-wing politics foundational to crypto.
Dose it cover the curious way lolberts switched from gold to GPU farms as their idolised currency basis?

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[Post 327]
Author : seebs
Date : 10-08-2023 01:56 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

absolutely amazing watching the FTX stuff and how much it exceeded my expectations in such weird directions

What I assumed: It was obviously fraud, so they had probably two sets of books, one for audits and one accurate.
Reality: They had zero sets of books and no idea at all what they were doing.

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[Post 328]
Author : Kamilah Hauptmann
Date : 10-08-2023 04:39 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

The whole *gesturing broadly at everything* can be described as bravado mistaken for brains.

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[Post 329]
Author : seebs
Date : 10-08-2023 04:54 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

A friend of mine worked at Alameda Research (the FTX-related trading people) briefly, and one day, some telco techs showed up and said they needed to do maintenance in the network closet. Friend asked for ID and wanted to call the telco to confirm that this was legit, and the people ended up wandering off because in fact it was probably not legit.

No one else there thought this was a concerning situation or was opposed to just letting anyone in to mess with their network equipment on the grounds that they had telco uniforms.

There is no way I'm gonna believe that Alameda Research was in any way competent.

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[Post 330]
Author : Ari
Date : 10-08-2023 05:11 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Sometime I really want to see a good breakdown on what the hell magic charisma potion SBF has on certain people as similar to how many of the biggest hacks are social engineering, SBF seems to be playing a literal confidence game, in that for some reason he can Jedi mind trick some people into not bothering to look behind the pizza stained curtain, and I don't get it.

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[Post 331]
Author : viscousmemories
Date : 10-08-2023 02:02 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

On the topic of crypto-related books, I read The Politics of Bitcoin, by David Golumbia, and it was a good analysis of the right-wing politics foundational to crypto.
Dose it cover the curious way lolberts switched from gold to GPU farms as their idolised currency basis?

Yessir.

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[Post 332]
Author : slimshady2357
Date : 10-10-2023 08:36 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Some of the stuff going on in the SBF trial is quite amazing. This account is live tweeting it:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">OK - SBF trial restart, Gary Wang still on cross examination, Bankman-Fried&#39;s lawyer want to ask him about other lawyers&#39; role in his real estate purchases. On desk (and photogs waiting outside for) Caroline Ellison. Inner City Press will live tweet, thread below <a href="https://t.co/qDvMDZberR">pic.twitter.com/qDvMDZberR</a></p>&mdash; Inner City Press (@innercitypress) <a href="https://twitter.com/innercitypress/status/1711738371041607990?ref_src=twsrc%5Etfw">October 10, 2023</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Here is a beauty from his former girlfriend and co-CEO, Ellison
AUSA: What did the defendant you about risk?
Ellison: He said it was OK if positive EV, expected value. He said he was willing to take large coin flips - he talked about being willing to flip a coin & destroy the world, as long as a win would make it twice as good

Fucking hell, he really was a moron.

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[Post 333]
Author : seebs
Date : 10-10-2023 10:55 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I think my favorite SBF quote is:

&#8220;I&#8217;m very skeptical of books,&#8221; he expands. &#8220;I don&#8217;t want to say no book is ever worth reading, but I actually do believe something pretty close to that. I think, if you wrote a book, you fucked up, and it should have been a six-paragraph blog post.&#8221;

This gives you some idea of how well he has ever understood anything.

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[Post 334]
Author : seebs
Date : 10-11-2023 04:23 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

the fraud was in the code (https://newsletter.mollywhite.net/p/the-fraud-was-in-the-code)

Wow, that's just... this is pretty fucking blatant.

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[Post 335]
Author : seebs
Date : 10-11-2023 04:23 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

the fraud was in the code (https://newsletter.mollywhite.net/p/the-fraud-was-in-the-code)

Wow, that's just... this is pretty fucking blatant.

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[Post 336]
Author : Crumb
Date : 10-11-2023 06:55 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:hide:

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[Post 337]
Author : Pan Narrans
Date : 10-11-2023 07:03 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Maybe you should put that on the blockchain :chin:

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[Post 338]
Author : JoeP
Date : 10-11-2023 08:24 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Looks like you got a duplicate post bug and a title bug at the same time. 

The real :ff:raud is in the :ff: code.

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[Post 339]
Author : seebs
Date : 10-11-2023 10:32 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

what the absolute fuck happened there

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[Post 340]
Author : Ensign Steve
Date : 10-11-2023 11:40 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

the fraud was in the code (https://newsletter.mollywhite.net/p/the-fraud-was-in-the-code)

Wow, that's just... this is pretty fucking blatant.


Although there is some risk of confusing the jury when presenting them with code snippets, prosecutors had Wang step through what the code is doing in a way that seemed pretty clear to me. It probably helped that FTX&#8217;s engineers wrote decently clean code, with descriptive variable names and concise functions, and chose a very human-readable language (Python).

Note to self: if you&#8217;re going to write code to do fraud, make it messy and unreadable to reduce the chances it&#8217;s later put in front of a jury as evidence.

That's why I'm C++ and Perl forever!

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[Post 341]
Author : Ari
Date : 10-12-2023 01:09 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I knew Python was user friendly but I had no idea you could just load up embezillion.lib for all your book cooking needs.

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[Post 342]
Author : Kamilah Hauptmann
Date : 10-12-2023 02:34 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

what the absolute fuck happened there

Some new style sites shit the bed posting to :ff: ancient vBulletin. Lesson here is to Preview and correct if you need to.

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[Post 343]
Author : JoeP
Date : 10-12-2023 08:55 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

what the absolute fuck happened there

Ah yes, seebs you've been away for a while. Not that this is a new issue, it has existed since the dawn of time probably.

If you post a bare url, vbulletin helpfully nips out and fetches the page, grabs the content of the (title) tag and sticks that in the bbcode url tag.

What could go wrong? Well, although there is only supposed to be one (title) tag in a document, inside the (head) tag, and it's suppose to be plain text, some sites (like the BBC) have other (title) tags later on. VB takes everything from the first (title) opening tag to the last (/title) closing tag, html and all. And hilarity ensues.

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[Post 344]
Author : seebs
Date : 10-12-2023 03:32 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I wish to point out, so far as I can tell, Python's "human-readable" nature is mostly an Informed Characteristic, not an actual thing that is meaningfully true.

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[Post 345]
Author : seebs
Date : 10-12-2023 03:33 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

what the absolute fuck happened there

Ah yes, seebs you've been away for a while. Not that this is a new issue, it has existed since the dawn of time probably.

If you post a bare url, vbulletin helpfully nips out and fetches the page, grabs the content of the (title) tag and sticks that in the bbcode url tag.

What could go wrong? Well, although there is only supposed to be one (title) tag in a document, inside the (head) tag, and it's suppose to be plain text, some sites (like the BBC) have other (title) tags later on. VB takes everything from the first (title) opening tag to the last (/title) closing tag, html and all. And hilarity ensues.

Oh, wow, that's... insane. But sure that makes sense. That is the kind of thing vB would do.

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[Post 346]
Author : JoeP
Date : 10-12-2023 05:46 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I wish to point out, so far as I can tell, Python's "human-readable" nature is mostly an Informed Characteristic, not an actual thing that is meaningfully true.

Correct. The only human readable programming language looks like

SUBTRACT COST_PRICE FROM SALES_PRICE GIVING MARGIN.
MULTIPLY MARGIN BY QUANTITY_SOLD GIVING PROFIT.

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[Post 347]
Author : Crumb
Date : 10-12-2023 05:50 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

:eyesbleed:

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[Post 348]
Author : Kamilah Hauptmann
Date : 10-28-2023 06:42 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Sam Bankman-Fried repeatedly told to 'stop talking' during rambling testimony | Ars Technica (https://arstechnica.com/tech-policy/2023/10/sam-bankman-fried-repeatedly-told-to-stop-talking-during-rambling-testimony/)

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[Post 349]
Author : Ari
Date : 10-28-2023 07:15 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

It's interesting to watch con artists come up against reality and have their one trick no longer work. Like the chi/energy fighters the first time they're punched in the face. SBF thinks he can talk his way out of everything and seemingly doesn't fully realize how screwed he is. I'm starting to deduce that one of his strategies is to talk confidently about something for so long that people drop their defenses, which works well on a certain type of person and I'm not sure he knows he's been selecting for that type of person because the court is going to eat him alive!

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[Post 350]
Author : Stephen Maturin
Date : 10-30-2023 04:59 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Now's as good a time as any to revisit that clip where Martin Shkreli tells Fried that jail isn't all that bad. 

"Jail is not that bad" SBF & Martin Shkreli&#8218; - YouTube (https://youtube.com/shorts/uZ5UqiFHUB8?si=qc3CbO608qKZbZIg)

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[Post 351]
Author : specious_reasons
Date : 10-30-2023 10:13 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Now's as good a time as any to revisit that clip where Martin Shkreli tells Fried that jail isn't all that bad. 

"Jail is not that bad" SBF & Martin Shkreli‚ - YouTube (https://youtube.com/shorts/uZ5UqiFHUB8?si=qc3CbO608qKZbZIg)

Tiffany Fong (the publisher of that video) is an interesting person - just someone who got fucked over by the Celsius collapse and became an amateur journalist as a result. She seems to do a pretty decent job. She was invited by Bankman-Fried to interview him, and for some reason, he revealed a lot of really damaging information in those interviews. I think he both underestimated her and was bamboozled by a pretty face.

I've been watching her recaps of the trial, and I find them interesting and informative.

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[Post 352]
Author : Kamilah Hauptmann
Date : 11-02-2023 09:45 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Guy literally has two Ivy League law professors for parents and neither of them ever sat him down and gave him the &#8220;don&#8217;t go on tv and tell people all your crimes&#8221; talk <a href="https://t.co/SsRnyVHMzx">https://t.co/SsRnyVHMzx</a></p>&mdash; Gas Stove Prayer Warrior (@canderaid) <a href="https://twitter.com/canderaid/status/1719859004212715597?ref_src=twsrc%5Etfw">November 1, 2023</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

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[Post 353]
Author : ChuckF
Date : 11-03-2023 01:07 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

lol took the jury four and a half hours to find that dipshit guilty on all counts.

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[Post 354]
Author : Kamilah Hauptmann
Date : 11-03-2023 01:12 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Maybe this longtermism thing has something to it. Maybe at sentencing.

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[Post 355]
Author : specious_reasons
Date : 11-03-2023 02:14 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Aww, came here to post this, but ChuckF beat me:

Sam Bankman-Fried trial: FTX founder convicted of fraud | AP News (https://apnews.com/article/sam-bankman-fried-ftx-crypto-bitcoin-baa4c94f2c4237c860475ff92e6bcf42)

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[Post 356]
Author : Ari
Date : 11-03-2023 02:23 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Wow, I was just watching an overview of the last day that mentioned it could take a week depending on what documents they wanted to review.

According to a youtube report, the jury asked for transcripts related to investors Robert Boroujerdi and Matt Huang at around 7pm, and announced they had reached a verdict at 7:30.

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[Post 357]
Author : specious_reasons
Date : 11-03-2023 02:56 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

From the recaps of the trial, and especially the closing arguments, the jury never bought the defense's arguments. I was expecting a day or so, but apparently the jury thought it was just that obvious.

I mean, it was, but if I were on the jury I'd slow down a bit to make sure I knew everything was in order.

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[Post 358]
Author : seebs
Date : 11-03-2023 03:43 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I think if SBF hadn't testifed it'd have been a lot harder.

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[Post 359]
Author : Kamilah Hauptmann
Date : 11-03-2023 07:42 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I&#8217;m wondering if the prosecution did a fabulous job of calling bullshit on Sam&#8217;s bullshit and explaining why it&#8217;s bullshit it got to the point where it was obvious to the jury that Sam not only can&#8217;t tell the truth, he has no idea what reality even looks like. So, speed run.

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[Post 360]
Author : specious_reasons
Date : 11-03-2023 08:46 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I think so, I'm still surprised it took just under 4 hours. Apparently, several reporters (and amateurs) covering the trial got surprised as well, and were locked out of the courtroom because they didn't get back in time.

My thoughts on this: Bankman-Fried was perfectly fine with spending customer's money because he thought he was smart enough that he'd make more and be able to cover anything he "borrowed" when the customers wanted to withdraw. Instead, he got caught with his pants down when crypto experienced a downturn and people started looking for the fraud that was rampant.

The dysfunction of the company might be a defense, but the dysfunction was there partly to cover up the fraud, and partly because the company was doing so well, they didn't think they needed to worry about it.

There is a long history of this kind of fraud, and Bankman-Fried isn't special. He just sounded like he might be for a moment.

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[Post 361]
Author : specious_reasons
Date : 11-03-2023 09:41 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Report: Here's Sam Bankman-Fried's Stupid Little Face Again (https://www.theonion.com/report-here-s-sam-bankman-fried-s-stupid-little-face-a-1850990520)

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[Post 362]
Author : Stephen Maturin
Date : 11-03-2023 10:20 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

lol took the jury four and a half hours to find that dipshit guilty on all counts.

And the 4.5 hours likely included lunch, filling out and signing the verdict forms, and probably a lively Lulziest Self-Incriminating Statement contest.

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[Post 363]
Author : Sock Puppet
Date : 11-03-2023 10:29 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I'd have requested time to review his entire recorded testimony, and made some bingo cards.

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[Post 364]
Author : ChuckF
Date : 11-06-2023 04:36 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

ok you guys it's NOT funny (https://cointelegraph.com/news/bored-ape-eye-vision-problems-apefest-hong-kong-lighting) so you should not laugh

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[Post 365]
Author : fragment
Date : 11-06-2023 05:30 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

the contractor tasked with setting up lighting at the party had used a series of Philips TUV 30W G30 T8 light bulbs &#8212; which according to Philip&#8217;s website &#8212; emit 12 watts of UV-C radiation, mainly used for disinfecting surfaces

DANGER: Risk Group 3 Ultra Violet product. These lamps emit high-power UV radiation that can cause severe injury to skin and eyes. Avoid eye and skin exposure to unshielded product. Use only in an enclosed environment which shields users from the radiation.

yikes

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[Post 366]
Author : seebs
Date : 11-06-2023 07:06 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Amazingly, not the first time that's happened at a party in Hong Kong.

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[Post 367]
Author : Ari
Date : 11-08-2023 07:53 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Tiffany Fong (the publisher of that video) is an interesting person
Speaking of, this was a great breakdown of the amount of time SBF could be facing, and now I'm even more amazed he pulled shit like VPNing the Super Bowl or releasing a witness's diary, like does he *want* to piss off the judge?

What&#39;s Next for SBF: Sentencing - 20 years or 115 years in Prison? Political Donations, Second Trial - YouTube

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[Post 368]
Author : Ari
Date : 11-12-2023 07:45 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

And another! Wow crime family much? I hadn't realized the father was so interconnected with FTX or that both seemed to treat it as a personal bank account.

How Involved Were SBF's Parents? How Much Did Joe Bankman & Barbara Fried Really Know About FTX? - YouTube

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[Post 369]
Author : seebs
Date : 11-12-2023 11:54 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Yeah, "leaking your ex-girlfriend's diary to the NYT to try to discredit a witness in your trial" is actually I believe the specific thing that got him moved from house arrest to jail.

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[Post 370]
Author : Kamilah Hauptmann
Date : 12-08-2023 04:45 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Binance and its customers will get "24/7, 365-days-a-year financial colonoscopy." (https://arstechnica.com/tech-policy/2023/12/us-regulators-will-now-have-access-to-years-of-binance-transaction-data/)

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[Post 371]
Author : Crumb
Date : 12-08-2023 02:56 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Financial Colonoscopy? Didn't they used to open for Dave Mathews?

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[Post 372]
Author : fragment
Date : 01-03-2024 11:50 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Crypto hedge fund CEO may not exist; probe finds no record of identity | Ars Technica (https://arstechnica.com/tech-policy/2024/01/crypto-hedge-fund-ceo-may-not-exist-probe-finds-no-record-of-identity/?utm_brand=arstechnica&utm_social-type=owned&utm_source=mastodon&utm_medium=social)

After its investigation, The Guardian has confirmed that no organization cited on his resume "can find any record of him."

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[Post 373]
Author : specious_reasons
Date : 01-04-2024 12:48 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Crypto hedge fund CEO may not exist; probe finds no record of identity | Ars Technica (https://arstechnica.com/tech-policy/2024/01/crypto-hedge-fund-ceo-may-not-exist-probe-finds-no-record-of-identity/?utm_brand=arstechnica&utm_social-type=owned&utm_source=mastodon&utm_medium=social)

After its investigation, The Guardian has confirmed that no organization cited on his resume "can find any record of him."

Should have named him "Adam Selene" — just obscure enough to get away with it (maybe not with Woz).

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[Post 374]
Author : Ensign Steve
Date : 01-04-2024 05:04 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

How about Alan Smithee (https://en.wikipedia.org/wiki/Alan_Smithee)

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[Post 375]
Author : Ari
Date : 01-15-2024 05:08 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

On Feb 2nd 2024 all GameStop NFTs will become unbuyable and unsellable and are thus worthless.
GameStop is closing its NFT marketplace after 18 months | VGC (https://www.videogameschronicle.com/news/gamestop-is-closing-its-nft-marketplace-after-18-months/)

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[Post 376]
Author : Kamilah Hauptmann
Date : 01-15-2024 05:48 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I sort of respect GameStop for cashing in on their fame over the last few years.

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[Post 377]
Author : mickthinks
Date : 01-15-2024 08:52 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

… and are thus worthless. 

They’re probably worthless, but they will still be tradable and thus there is no “thus”.

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[Post 378]
Author : JoeP
Date : 01-15-2024 09:09 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

NFT: Not Fucking Tradable.

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[Post 379]
Author : specious_reasons
Date : 01-15-2024 09:55 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

… and are thus worthless. 

They’re probably worthless, but they will still be tradable and thus there is no “thus”.

Shit! I agree with mickthinks.  The blockchain is still public, so other trading platforms should be able to handle the existing NFTs.

I just wasted 20 minutes looking at GameStop's NFT store and then Opensea. God, so much ugly art. Almost all of it is worthless in any sense.

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[Post 380]
Author : Ari
Date : 01-15-2024 10:55 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Hmm, yes it does seem that they can be sold on other blockchains so not technically worthless due to system failure, instead worthless due to their value being 99.99% based on propping up the GameStop meme stonk.

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[Post 381]
Author : Kamilah Hauptmann
Date : 03-22-2024 05:01 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

SBF repeatedly lied to get out of ‘supervillain’ prison term, FTX CEO alleges | Ars Technica (https://arstechnica.com/tech-policy/2024/03/ftx-chief-lays-out-all-the-ways-sbf-sucks-in-detailed-court-filing/)

Basically, SBF’s grip on reality is tenuous.

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[Post 382]
Author : Stephen Maturin
Date : 03-22-2024 09:31 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Just because I still enjoy reading it:

Two things are simultaneously true:

1. Watching crypto completely shit the bed is very funny, as is watching HODLer bros double down and lose more to the tune of marginal whining about why won't the government fix this.
2. Those crypto bros are going to be radicalized by the convincing themselves that they didn't lose a bunch speculating in the century's most obviously stupid fucking scam, but in fact they earned something of actual value that was then taken away from them.  The retarded monkey boat discord channel or whatever is not a healthy place to cultivate ties with reality.

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[Post 383]
Author : Stephen Maturin
Date : 04-29-2024 06:39 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

I’m going to put the entire U.S. budget on blockchain so that any American — every American can look at every budget item in the entire budget anytime they want 24 hours a day.”

RFK Jr. (https://thehill.com/business/4611426-rfk-jr-im-gonna-put-the-entire-u-s-budget-on-blockchain/), who is most assuredly not a roid monkey and/or gibbering smooth-brain.

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[Post 384]
Author : seebs
Date : 05-02-2024 01:12 AM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

that is nonetheless an incredibly stupid idea in a number of ways.

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[Post 385]
Author : LarsMac
Date : 05-02-2024 05:14 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

"Incredibly Stupid" seems to have become the New American Motto.

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[Post 386]
Author : JoeP
Date : 05-02-2024 06:45 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

"Incredibly Stupid" seems to have become the New American Motto.

Hold mah beer

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[Post 387]
Author : Kamilah Hauptmann
Date : 05-02-2024 08:27 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

"Incredibly Stupid" seems to have become the New American Motto.

Hold mah beer

A proper son of the British Empire shows commitment, and swills the pint back in one pull, then injures himself it a fit of drunken idiocy. :godsavetheking:

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[Post 388]
Author : JoeP
Date : 05-02-2024 08:28 PM
Thread Title : Re: Blockchain, NFTs, and Web 3.0

Hold my steed, there's a good fellow

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