Grift grift grift
https://www.theguardian.com/technology/2022/jul/12/they-couldnt-even-scream-any-more-they-were-just-sobbing-the-amateur-investors-ruined-by-the-crypto-crash
― Ned Raggett, Tuesday, 12 July 2022 15:52 (one year ago) link
It all started in February 2021, with a radio advert for Dogecoin, a cryptocurrency promoted by Elon Musk, the founder of Tesla. Intrigued, Roy started Googling, eventually using his credit card to make an initial investment of €2,500 (£2,200) in a range of cryptocurrencies. The value of Roy’s portfolio climbed to €8,000, then €100,000, then €525,000.
On one hand I get that these people had convinced themselves it was like investing in an index fund, retirement money, but it's hard to grasp holding a winning lottery ticket and not cashing it in. When Bitcoin was peaking I was 1% bummed that I'd used 5-6 (or more) bitcoins when they were under $1k in value - but I would have sold out long before hodling to $60k. (I guess I did, actually, I sold the one full leftover when it hit ~$2k, more than doubling my money.)
― papal hotwife (milo z), Tuesday, 12 July 2022 16:42 (one year ago) link
I can’t imagine getting a 250% return on a credit-based investment and not bailing but what do i know i only gamble with regular stonks
― Its big ball chunky time (Jimmy The Mod Awaits The Return Of His Beloved), Tuesday, 12 July 2022 17:05 (one year ago) link
That article reminded of GT Advanced, which bubbled and burst a few years ago:https://www.joshuakennon.com/gt-advanced-technologies-bankruptcy/
GT Advanced made solar panels, so they knew a bit about bonding glass to metal - Apple gave them a loan of something like $900m to develop sapphire glass for the next generation of iPhone, and the forthcoming Apple Watch. A lot of people on a forum called The Contrarian Investor put a tonne of cash into GT Advanced because great things were expected of it. But on the day that Apple announced the new iPhone (the 6?) there was no mention of sapphire glass, so the share price cratered. And a few weeks later the company declared bankruptcy because it had nothing coming in. Apple was its only potential customer, but Apple decided that sapphire glass wasn't worth the trouble.
And it all played out live, in real time, on the forum of the website:https://web.archive.org/web/20141220201352/http://forum.thecontrarianinvestor.com/index.php?threads/gt-advanced-technologies-inc-gtat.69/page-499
Notice how towards the bottom of the page they realise that trading has halted, and then three pages later they realise the company has gone bankrupt. The initial reaction is "shut up, don't say that", but it gradually sinks in. Some of those people had put a small fortune into the stock and had already made a profit, because it seemed to be doing well. But they kept on because they wanted even more "and my friends on the internet said it was alright". At least one person invested their disabled child's school money and another invested a tonne of cash without telling his wife and kids.
If I had an investment that ballooned to over two hundred times its value I would sell it and never look at it ever again. I would not want to know what happened after I got rid of it.
― Ashley Pomeroy, Tuesday, 12 July 2022 18:08 (one year ago) link
Ah of course
BREAKING: Crypto lender Celsius files for Chapter 11 bankruptcy a month after freezing customer withdrawals, the latest casualty from the rout in cryptocurrencies https://t.co/PCi6CfpfjL pic.twitter.com/infYnkua5s— Bloomberg Crypto (@crypto) July 14, 2022
― Ned Raggett, Thursday, 14 July 2022 04:52 (one year ago) link
We're freeing ourselves from the repression of FDIC insurance over our money
― F'kin Magnetometers, how do they work? (President Keyes), Thursday, 14 July 2022 14:26 (one year ago) link
lol
An NFT is like being the Foursquare Mayor of a JPEG— Don Marti (@dmarti) January 1, 2022
― 𝔠𝔞𝔢𝔨 (caek), Friday, 15 July 2022 22:17 (one year ago) link
absolutely banging thread about practical applications of web3, every idea even better than the last
35 business ideas of how web3 could improve or disrupt the most successful companies:— Tascha (@TaschaLabs) July 24, 2022
― mh, Monday, 25 July 2022 20:59 (one year ago) link
These need to be read in Patrick Bateman voice
― F'kin Magnetometers, how do they work? (President Keyes), Monday, 25 July 2022 21:06 (one year ago) link
Though I would like to rent out my Costco membership on a secondary market. Sounds worthwhile.
― F'kin Magnetometers, how do they work? (President Keyes), Monday, 25 July 2022 21:08 (one year ago) link
14. StarbucksAllow customers to monetize their loyalty by earning Starbucks points in tradable token format. Customers can stake tokens to get tiered discounts in future.
Allow customers to monetize their loyalty by earning Starbucks points in tradable token format. Customers can stake tokens to get tiered discounts in future.
I'll stick with my "buy ten get one free" punchcard, thanks.
― nickn, Monday, 25 July 2022 21:35 (one year ago) link
The Costco one is the best, I'm sure they would greatly prefer someone else make the money on their memberships instead of them.
― papal hotwife (milo z), Monday, 25 July 2022 21:44 (one year ago) link
Already dying and I’m not even done reading #1:
1. Amazon logistics
Instead of having large distribution centers, Use decentralized mini warehouses (e.g. your backyard) for storage
― nobody like my rap (One Eye Open), Monday, 25 July 2022 22:15 (one year ago) link
PayPal already lets users buy crypto in their app. Next step is to evolve into KYC-ed DeFi.
I’m literally crying laughing. How is this real it’s so wonderful
― nobody like my rap (One Eye Open), Monday, 25 July 2022 22:18 (one year ago) link
Amazon drivers spend the first 12 hours of their shift traveling between backyard storage units and the next 12 delivering the packages to the next zip code over.
― papal hotwife (milo z), Monday, 25 July 2022 22:20 (one year ago) link
this explains so much
I’d traveled 3 days to a remote town in Peru to track down a jungle shaman to perform a ritual of ayahuasca, a mythical medicine plant that I heard would open you up to a higher wisdom & see the future.— Tascha (@TaschaLabs) May 23, 2022
― papal hotwife (milo z), Monday, 25 July 2022 22:36 (one year ago) link
PS Cosmetics biz disrupter of future would be customer-owned to share high biz margin w/ users to grow faster.
yeah like maybe you could buy ‘shares’ of the company to become a part-owner and like the more shares you own the more payouts you get, this is genius-level stuff, could disrupt the whole economy if it becomes reality
― nobody like my rap (One Eye Open), Monday, 25 July 2022 22:37 (one year ago) link
that would be a good grift to capture everyone who's addicted to essential oils and supplement MLMs
― papal hotwife (milo z), Monday, 25 July 2022 22:40 (one year ago) link
lmao
― We were clothed, except for Caan, who was naked. Don't know why. (Neanderthal), Monday, 25 July 2022 22:41 (one year ago) link
my friend almost sucked me into the Primerica MLM in the early 2000s, somehow seems like I'd have made more money there than with NFTs
I remember one 'meeting' I was invited too, which was a bunch of high-ranking MLM folk getting up to the front and insulting each other and yelling "You can't fire me! You can't fire me!" when they clapped back to point out we 'worked for ourselves'
― We were clothed, except for Caan, who was naked. Don't know why. (Neanderthal), Monday, 25 July 2022 22:42 (one year ago) link
Virtual real estate bubble collapsing as investors discover imposition of artificial scarcity itself not enough to drive demand of fundamentally useless asset https://t.co/NZ05N3wyWw— cathode ray theory (@said_mitch) August 5, 2022
― mark s, Friday, 5 August 2022 18:36 (one year ago) link
"Some day I hope to build on it!"
― F'kin Magnetometers, how do they work? (President Keyes), Friday, 5 August 2022 18:58 (one year ago) link
Man, can't believe Second Life II didn't take off.
― papal hotwife (milo z), Friday, 5 August 2022 19:36 (one year ago) link
VR Florida swampland
― Andy the Grasshopper, Friday, 5 August 2022 19:40 (one year ago) link
ICYMI: Meet Polar, a metaverse-born singer, dancer and influencer. With 1.6 million followers on TikTok and more than over 500,000 subscribers on her YouTube channel, she has ambitions to perform in the real world https://t.co/QNBaKAoiyA pic.twitter.com/JoyrrhEMM5— Reuters (@Reuters) August 7, 2022
― papal hotwife (milo z), Monday, 8 August 2022 01:38 (one year ago) link
Wasn’t the ‘fully animated pop star’ a Japanese or Korean pop thing like 20 years ago?
― papal hotwife (milo z), Monday, 8 August 2022 01:39 (one year ago) link
And before that the Archies and the Banana Splits
― Are U down with the BVM (Boring, Maryland), Monday, 8 August 2022 03:31 (one year ago) link
Hirst is burning his paintings on Instagram Live at the moment.
On Tuesday morning Damien Hirst, a British artist, will begin burning a collection of paintings valued at about $10m as the finale of “The Currency”, his project pitting physical art against non-fungible tokens.Last year 10,000 of Mr Hirst’s paintings featuring colourful enamel spots, made in 2016, were made into digital files, known as NFTs. Each NFT was sold for $2,000 but buyers were later given the choice between keeping the NFT or swapping it for the painting. Unwanted paintings are now being burned and rejected NFTs deleted.In all 9,000 works were sold to the public: 5,149 buyers chose paintings while 3,851 wanted the NFTs. (Mr Hirst kept the rest.) Fewer than 70 physical works have appeared at auction, fetching twice the price of the more than 2,000 NFTs that have been resold. If “The Currency” asks whether digital works are as valuable as tangible ones, the answer seems to be no.
Last year 10,000 of Mr Hirst’s paintings featuring colourful enamel spots, made in 2016, were made into digital files, known as NFTs. Each NFT was sold for $2,000 but buyers were later given the choice between keeping the NFT or swapping it for the painting. Unwanted paintings are now being burned and rejected NFTs deleted.
In all 9,000 works were sold to the public: 5,149 buyers chose paintings while 3,851 wanted the NFTs. (Mr Hirst kept the rest.) Fewer than 70 physical works have appeared at auction, fetching twice the price of the more than 2,000 NFTs that have been resold. If “The Currency” asks whether digital works are as valuable as tangible ones, the answer seems to be no.
― The self-titled drags (Eazy), Tuesday, 11 October 2022 11:44 (one year ago) link
we needed a project to tell us this
― stank viola (Neanderthal), Tuesday, 11 October 2022 15:34 (one year ago) link
I'm sure you could find polka dot placemats for way less than that
https://news.artnet.com/app/news-upload/2022/08/The-Currency-14-1024x704.jpg
― jmm, Tuesday, 11 October 2022 15:56 (one year ago) link
His experiment had two groups. People with too much money with terrible taste in digital art on one side, and people with too much money who have a taste for Damien Hirst’s art on the other. In the end, he found that people with too much money and shitty taste won
― Karl Malone, Tuesday, 11 October 2022 16:08 (one year ago) link
He should burn all of his art, that would be amazing
― Karl Malone, Tuesday, 11 October 2022 16:09 (one year ago) link
he should design luxury heating pads for people with bad backs, with original art work on the heating pads, and then also sell NFTs that people with bad backs should look at when their back flares up, and report back which is more effective
― stank viola (Neanderthal), Tuesday, 11 October 2022 16:09 (one year ago) link
he did* 10,000 paintings in 2016? that's like 28 a day.
(*or got someone else to do)
― koogs, Tuesday, 11 October 2022 16:31 (one year ago) link
rejected NFTs
Of all sad words of tongue or pen
― jmm, Tuesday, 11 October 2022 16:34 (one year ago) link
Hirst always looks like such a joyless sod. At least Koons has fun making his terrible art.
― Tsar Bombadil (James Morrison), Tuesday, 11 October 2022 20:48 (one year ago) link
"The Currency" sounds like some awful financial podcast that I don't want to ever listen to
― Andy the Grasshopper, Tuesday, 11 October 2022 21:31 (one year ago) link
what is this stupid shit
The first-of-its-kind Web3 Movie Experience is available to purchase NOW!— Warner Bros. NFT (@WarnerBrosNFT) October 27, 2022
― papal hotwife (milo z), Tuesday, 1 November 2022 01:50 (one year ago) link
So you have a digital version of one of those tourist trap lenticular prints that existed because we didn't all have movie cameras in our pocket 24/7?
― papal hotwife (milo z), Tuesday, 1 November 2022 01:51 (one year ago) link
Need a digital version of the inverted sculpture my grandma had where Jesus's eyes followed you around the room
― papal hotwife (milo z), Tuesday, 1 November 2022 01:53 (one year ago) link
can't wait to right click on that
― formerly abanana (dat), Tuesday, 1 November 2022 03:05 (one year ago) link
every time i see this dumb shit, it is a reminder that I am now officially too old to careIf throwing my hands up at the very concept of the NFT is my midnight blinking VHS, so be it.
― “Cheeky cheeky!” she trills, nearly demolishing a roadside post (forksclovetofu), Tuesday, 1 November 2022 06:03 (one year ago) link
anyone read this? i found it helpful: https://moxie.org/2022/01/07/web3-first-impressions.html
it was written about a year ago, by the guy who founded Signal, and it argues that while web3 is supposed to be decentralized (like web1), it's already dependent on platforms which are highly centralized. read the blog post if you have any interest, it'll provide context for this:
Given the history of why web1 became web2, what seems strange to me about web3 is that technologies like ethereum have been built with many of the same implicit trappings as web1. To make these technologies usable, the space is consolidating around… platforms. Again. People who will run servers for you, and iterate on the new functionality that emerges. Infura, OpenSea, Coinbase, Etherscan.Likewise, the web3 protocols are slow to evolve. When building First Derivative, it would have been great to price minting derivatives as a percentage of the underlying’s value. That data isn’t on chain, but it’s in an API that OpenSea will give you. People are excited about NFT royalties for the way that they can benefit creators, but royalties aren’t specified in ERC-721, and it’s too late to change it, so OpenSea has its own way of configuring royalties that exists in web2 space. Iterating quickly on centralized platforms is already outpacing the distributed protocols and consolidating control into platforms.Given those dynamics, I don’t think it should be a surprise that we’re already at a place where your crypto wallet’s view of your NFTs is OpenSea’s view of your NFTs. I don’t think we should be surprised that OpenSea isn’t a pure “view” that can be replaced, since it has been busy iterating the platform beyond what is possible strictly with the impossible/difficult to change standards.I think this is very similar to the situation with email. I can run my own mail server, but it doesn’t functionally matter for privacy, censorship resistance, or control – because GMail is going to be on the other end of every email that I send or receive anyway. Once a distributed ecosystem centralizes around a platform for convenience, it becomes the worst of both worlds: centralized control, but still distributed enough to become mired in time. I can build my own NFT marketplace, but it doesn’t offer any additional control if OpenSea mediates the view of all NFTs in the wallets people use (and every other app in the ecosystem).This isn’t a complaint about OpenSea or an indictment of what they’ve built. Just the opposite, they’re trying to build something that works. I think we should expect this kind of platform consolidation to happen, and given the inevitability, design systems that give us what we want when that’s how things are organized. My sense and concern, though, is that the web3 community expects some other outcome than what we’re already seeing.
Likewise, the web3 protocols are slow to evolve. When building First Derivative, it would have been great to price minting derivatives as a percentage of the underlying’s value. That data isn’t on chain, but it’s in an API that OpenSea will give you. People are excited about NFT royalties for the way that they can benefit creators, but royalties aren’t specified in ERC-721, and it’s too late to change it, so OpenSea has its own way of configuring royalties that exists in web2 space. Iterating quickly on centralized platforms is already outpacing the distributed protocols and consolidating control into platforms.
Given those dynamics, I don’t think it should be a surprise that we’re already at a place where your crypto wallet’s view of your NFTs is OpenSea’s view of your NFTs. I don’t think we should be surprised that OpenSea isn’t a pure “view” that can be replaced, since it has been busy iterating the platform beyond what is possible strictly with the impossible/difficult to change standards.
I think this is very similar to the situation with email. I can run my own mail server, but it doesn’t functionally matter for privacy, censorship resistance, or control – because GMail is going to be on the other end of every email that I send or receive anyway. Once a distributed ecosystem centralizes around a platform for convenience, it becomes the worst of both worlds: centralized control, but still distributed enough to become mired in time. I can build my own NFT marketplace, but it doesn’t offer any additional control if OpenSea mediates the view of all NFTs in the wallets people use (and every other app in the ecosystem).
This isn’t a complaint about OpenSea or an indictment of what they’ve built. Just the opposite, they’re trying to build something that works. I think we should expect this kind of platform consolidation to happen, and given the inevitability, design systems that give us what we want when that’s how things are organized. My sense and concern, though, is that the web3 community expects some other outcome than what we’re already seeing.
― Karl Malone, Sunday, 25 December 2022 17:06 (one year ago) link
https://www.youtube.com/watch?v=5CJsAej_GWc
― POLIZISTEN VERSINKEN IM SCHLAMM (forksclovetofu), Tuesday, 17 January 2023 02:06 (one year ago) link
hey it's even stupider than you thinkhttps://www.youtube.com/watch?v=e7LiVBCZ69Q
― POLIZISTEN VERSINKEN IM SCHLAMM (forksclovetofu), Tuesday, 17 January 2023 02:07 (one year ago) link
aight so this here is a transparent effort to groom the next generation of bagholders, which, is that legal? marketing ponzi schemes/risky financial instruments to literal children? (i'm assuming that the monkey poop video game is deliberately meant to appeal to tweens and the tween-brained; presumably incorporating elements of the skinnerbox pay-to-win mobile games they were raised on so as to addict them to crypto gambling) (and shout out to the loving close-up of a monkey's butthole, to ensure maximum virality among giggling schoolchildren)
no like seriously. does the sec or anybody give any kind of a darn about this, because i mean. they are actually, for real, on purpose, marketing this to kids (and idiots) for the all-but-explicit purpose of fleecing them. isn't there any kind of rule or something against that? it feels like there should be a rule against that.
― #homilytweet (cat), Wednesday, 18 January 2023 00:45 (one year ago) link
otm
at least joe cool was doing cool things, like smoking cigarettes
― Karl Malone, Wednesday, 18 January 2023 00:47 (one year ago) link
another point in joe cool's favor: i am unfamiliar with his anus, whereas i can no longer say the same re: jimmy the monkey
― #homilytweet (cat), Wednesday, 18 January 2023 00:56 (one year ago) link
No results found for "joe cool's anus".Suggestions:Make sure all words are spelled correctly.Try different keywords.Try more general keywords.Try fewer keywords.Try getting away from the keyboard for awhile.Maybe get a hobby?
Suggestions:
― POLIZISTEN VERSINKEN IM SCHLAMM (forksclovetofu), Wednesday, 18 January 2023 04:25 (one year ago) link