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Koopa Kid posted:Has anyone posted the Binance pizza yet
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May 23, 2022 18:18
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Seth Pecksniff posted:Honestly I think we're nearing the series finale for humanity so the writers are just getting drunk and throwing out to most random, batshit plotlines possible and the studio is accepting it because why not? I keep telling my kid that it isn't normal, and things used to kind of make sense, and sometimes be boring. -ninja edit- she's in her 20s, I'm not traumatising a 5 year old
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May 23, 2022 18:29
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Koopa Kid posted:Has anyone posted the Binance pizza yet they served that poo poo to the CEO, truly an emperor has no clothes moment
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May 23, 2022 18:36
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another pop up restaurant? I thought the only one was just the ape burger one, also jesus how do you gently caress up pizza that badly?
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May 23, 2022 18:46
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I saw a guy in a cafe with an in Bitcoin we trust shirt.
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May 23, 2022 18:48
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Paladinus posted:Boople's cousin. To the Moop!!!!
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May 23, 2022 18:59
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From the reddit stock cult:quote:r/Superstonk - I just realized this is much bigger than anyone could possibly grasp...except RC of course. He grasps it. He grasps it with both hands and that is why so many are following him. Imagine thinking the entire world should and will rely on Gamestop NFTs to function.
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May 23, 2022 19:02
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TastyAvocado posted:From the reddit stock cult: Here was one of the top comments to the initial announcement shortly after it was announced  I'm like 90% convinced most of the gamestop-related reddit posts are astroturfing.
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May 23, 2022 19:05
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no no, I don’t deal with your—heh—fiat currency; I’ll just take cash instead 
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May 23, 2022 19:06
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that said, I absolutely support these people’s dedication to the pursuit of mo’ rear end 
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May 23, 2022 19:12
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deep dish peat moss posted:Here was one of the top comments to the initial announcement shortly after it was announced imagine the leprechauns swinging by your place to drop off a pot of gold, 'cuz it's just as likely as any of this poo poo
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May 23, 2022 19:12
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deep dish peat moss posted:
this is probably true, but much like other dumb internet things, users get into arms races trying to write up the dumbest poo poo and a non 0 amount of people think its real/legit.
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May 23, 2022 19:12
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that redditor has definitely said "i never asked to be born" every time his dad asks him to get a job and move out
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May 23, 2022 19:15
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Crosspost from the BWM thread (also watch the quoted video it’s hilarious) Loooool speaking of which: https://www.financialadvisoriq.com/c/3611464/462594/finfluencers_attracting_finra_attention?checkedlogin=1 quote:
Lol FINRA is looking at making tick tock and insta finance bros accountable as people giving financial advice which means they would need to be licensed.
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May 23, 2022 19:17
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repiv posted:digital artist who's known for his routine of making a piece from scratch every single day no matter what, and has kept it up for 15 years and counting There's this whole thought that the "investors" who bought it were in cahoots with beeple to inflate the value of his artwork and that they did not actually exchange 70 million for it as he essentially just gave back what they paid him. 1) https://www.washingtonpost.com/technology/2021/03/17/nft-beeple-metakovan-christies/ The guy who bought it had previously purchased a bunch of Beeple artwork for $2.2 million and he created a brand new crypto scam coin where holders of the coin were "part-owners" of the artwork. Their mission was to... "democratize ownership of art".  He gave himself 59% of the tokens and 2% of it went to Beeple, then he sold the rest. So they were already in cahoots to inflate the value of his non-NFT artwork before the $70 million auction ever happened. 2) Within 2 months of the Christie's auction the b.20 token rose to $23.62 then plummeted to under $0.40  There was never any activity or interest in it except for this guy and his friends (and presumably beeple) churning it to make it look active, but no one took the bait. 3) Funny thing: After the auction, "crypto purists" were talking poo poo about it by saying that it's "not a real NFT" because what the buyer actually got was a jpeg, not a NFT. Since NFTs don't actually include jpegs, the person who bought it bought something that is inherently more valuable than an NFT lol https://news.artnet.com/market/beeple-everydays-controversy-nft-or-not-1952124 4) The guy who bought it has also ran several straight-up crypto scams before: https://amycastor.com/2021/03/14/metakovan-the-mystery-beeple-art-buyer-and-his-nft-defi-scheme/ He literally started a crypto exchange that just happened to mysteriously siphon all the coins people held through it, millions and millions of fake digital coins lmao. He claims he sold the business before it started stealing peoples' coins but there is zero record of that sale ever happening, at all, anywhere. He has sent several messages to the writer of this article asking them to take it down, and they said "no, but I'll correct any inaccuracies you can point out" and he was unable to point out any inaccuracies. This post also goes into some detail on how beeple could have just given the $70m back without an eth transaction showing up (basically just swapping ownership of the wallet itself, because the $70m was paid in eth, not in real money) 5) In interviews the only thing Beeple has said about the sale and all that has followed is "haha it's just been crazy and wild! Too much to talk about" 6) Oh yeah also it turns out that the Beeple "NFT" with 5000 images is full of a bunch of racist chud garbage like this:  Brought to you by the same guy that tried to make a quick buck selling "POLITICS IS BULLSHIT" NFTs a month after including this in his first major NFT collection. e: If you look at any of Beeple's official NFTs these days, like this one here: https://niftygateway.com/marketplace/collection/0x12f28e2106ce8fd8464885b80ea865e98b465149/3?page=1 It claims that it has a "secondary market volume" of $2,012,360.22 - which is the total amount ever exchanged in any transaction involving an NFT in this collection. But if you look at the actual transaction history for the one up at the top: https://etherscan.io/address/0x12f28e2106ce8fd8464885b80ea865e98b465149 Every time it has ever been traded, it was traded for $0.00. This is true of most of the others in the collection as well. (Future Edit: Looks like this is just the way a lot of NFT trades display - the actual exchange of currency happens through a different exchange/gateway/different wallets then the contract transferring happens here with 0 eth transactions associated. So the only thing we have to go on for what an NFT has been traded for historically is what the NFT Marketplaces like Opensea claim, the transaction isn't actually verifiable in the blockchain by outside parties, which negates a huge selling point of NFTs - that their value is agreed upon based on immutable, incorruptible transaction history) And if you go to Beeple's opensea page: https://opensea.io/collection/beeple-special-edition And you filter by "has offers" you will literally get an error from the website because none of them have ever had offers. (future edit: 3 of them have offers, Opensea was being ddos'd earlier when I got the error. Only one of the offers is public, it's a $90 offer on an item listed for 90 eth [$18,000]) Or if you look at the one that someone paid $179,999 for: https://etherscan.io/address/0xad4618702998e39697e8ea5b6dc0103463cec212 You'll see that it currently gets traded around for $2,000 or less. deep dish peat moss fucked around with this message at 22:49 on May 23, 2022 |
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May 23, 2022 19:31
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deep dish peat moss posted:There's this whole thought that the "investors" who bought it were in cahoots with beeple to inflate the value of his artwork and that they did not actually exchange 70 million for it as he essentially just gave back what they paid him. Thank you for this effort post, I'm like halfway through and LOL. Also the guy talking about 20 percent return and buying a house...I don't know if y'all notice but he gives away a slight smirk at the end of sentences that's far too telling. Anyway, on with the scam lols!
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May 23, 2022 19:53
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We just hit another split in the speedrun of the history of finance, the crypto bros have re-invented the endowment mortgage! These things were all the rage in the UK in the 80s, when the stock market was going up and was never going to stop going up. Instead of paying the monthlies on your mortgage why not just put that money into an investment fund instead? It'll mature in 20 years and when it does it will pay out enough to cover all the money you still owe on the mortgage PLUS enough to buy a new Ford Mondeo and take your family on a holiday to Benidorm or Tenerife or some poo poo. My first ever job was in the mid 2000s working at a place that fielded complaints from people who had been given the hard sell on endowment mortgages by estate agents in the 80s. They all came out the end of them still owing huge amounts on their mortgage because, shockingly, line did not continue to go up every year for 20 years. Naturally they felt they had been conned and wanted the money they had been promised, but the legal maximum payout for a successful complaint (most of them were not successful) was 2000 GBP. Still I guess that is a lot more than people doing the same thing with crypto will end up with.
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May 23, 2022 20:01
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https://twitter.com/WatcherGuru/status/1528783205515534340
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May 23, 2022 20:42
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Cyrano4747 posted:Crosspost from the BWM thread (also watch the quoted video it’s hilarious) This reply about sums everything up https://twitter.com/TheNobleIdiot/status/1528505069368496131?s=20&t=PJN3CcpxhgPqjuh5kRTXdA
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May 23, 2022 20:50
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May 23, 2022 21:27
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SatansOnion posted:that said, I absolutely support these people’s dedication to the pursuit of mo’ rear end Mother Of All Short Squeezes… or short squeeze of all mothers
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May 23, 2022 21:28
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Heath posted:Something like four or five years ago there was a Bitcoin ATM in a hipsterish cafe in my town but I wasn't very clear on how it worked. No one used it. A couple weeks later it was gone. Thanks for reading I wonder if these ATMs have gotten any better now. I remember crypto startups did spawn them everywhere 4-5 years ago but the trip reports were saying 50% of the time they did not work or just ate your bitcoin (with no way to get it back, no chargebacks!), and the other 50% of the time they charged $40-50 per withdrawal on top of whatever bitcoin gas fees you had to pay. So you would pay at least $100 to withdraw your $40 or whatever you wanted. A bunch of true believers were still going around and donating their own money to these to "encourage adoption" or whatever but guess that wasn't enough to keep them around as much. Rad Russian fucked around with this message at 21:34 on May 23, 2022 |
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May 23, 2022 21:29
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Another funny thing about NFTs is that NFT marketplaces like OpenSea allow the creator of the NFT to include royalties in their minting, meaning that if they sell you their art and then you resell it in the future, they get a portion of your sale price instead of you (Technically I believe it's an extra fee levied on the new buyer, but you can easily see how that affects the final sale price). From the perspective of the artist, this is cool - because why shouldn't an artist get royalties when their piece is resold in the future? But how do you imagine that this plays out from the perspective of an "investor" who is only buying the art in the first place with the hope of reselling it in the future? Anyway I just signed up for an OpenSea account so that I could show you how poorly this is displayed to buyers. But before I get to that, check out what the very first onboarding screen is after you sign up  Because they honestly believed that people were going to visit their website going "Hmm, I have $50,000 to invest right now but I don't know what to invest it in! Can I look at your trashy digital art and consider buying it?" But I can't show you how poorly this is displayed to buyers. Because creator royalties are not displayed anywhere in the storefront. You see them after clicking "Buy Now" on an NFT - but in order to click Buy Now, you have to connect your Opensea account to a crypto wallet and perform a "small" validation transaction (I can't tell you what it is right now because I don't care enough, but 1-2 years ago it was like $60 worth of eth). So let's say you're an actual investor considering making an investment in NFTs. You cannot even see that an NFT you are considering purchasing pays, let's say, 50% of all future sale prices directly to the artist. In order to see this, you need to first pay Opensea for the right to view purchase pages on their website. So now by the time you've got in, you already have this sunk cost fallacy and you feel pressured to buy something so that you didn't waste your $60 or whatever validation fee. Do you see how this is all a big scam yet? So anyway after you click Buy Now you see this screen:  Most people would logically see that and assume it's a one-time fee if they didn't follow the NFT world, because "royalties" are not a normal thing in investing. So an investor buys an NFT for let's say $1000, and they have to pay a 10% fee to the artist - okay cool, the artist deserves money. The investor has paid $1,100 for an item with an implied resale value of $1,000. Of course, they want to resell it at a higher price point. So they turn around and try to sell it for $1200 to make a quick $100. Except for them to earn $1200, the buyer has to pay $1200 plus that 10% artist fee, so it's up to $1320 now. You have to add 32% value to your $1000 item in order to earn a 9% return on what you spent. Okay, poo poo, so maybe we set it up so that the buyer just pays $1200 because no one's buying it for $1320! Well to do that, you have to list it at $1090, because $1,090*1.1 = $1,199. So no, that won't work. Hell, to even recoup the $1,100 you initially paid, you have to convince a buyer to pay a bare minimum of $1210! But wait a minute now, we're still not including the $60 validation fee I was charged when I first signed up. That means I need to list it for $1,160 to break even on this investment, and the buyer will have to pay at least $1,272. I have to convince someone to buy something that I paid "$1000" for from me for $1272 in order to break even on this investment. Or from another perspective, since the actual "sale price" is $1000 and I paid $1160 in total, this investment lost fourteen percent of its value the moment I purchased it, and that doesn't even account for the 10% that will get added to any future purchase! In retail stock investing like on Robinhood, they take their cut of the pie when you cash out - you can buy and sell stocks all day long with no fees, but when you say "Alright, I'd like to withdraw" they charge you a 2-3% fee on your withdrawal's total balance. This is fair because they facilitated the trades and you never paid anything towards fees out of pocket. The fees are one-time only and are charged at the end of the entire investment cycle. With NFTs, fees are charged with every single transaction and they compound with each successive transaction. It's no surprise that the NFT market completely flatlined when the pop culture fad died off and actual investors looked at it. NFTs have never increased in "value", they just increase in the amount of fees that get slapped on future buyers, and each new buyer learns that they need to scam the next schmuck the same way they were scammed just to break even. Price inflation with NFTs only mechanically ever happens to counteract the effect of those fees. The only people making money from it are the artists (good!) and the marketplaces (bad!). People who actually own NFTs taking a loss almost every time. deep dish peat moss fucked around with this message at 22:40 on May 23, 2022 |
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May 23, 2022 22:01
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"CLICK THE BUY NOT BUTTON"
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May 23, 2022 22:07
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Crypto guys love getting scammed. they just love it. https://twitter.com/CryptoWhale/status/1528833698988269568?s=20&t=cDN-DiXjRUcIobgtmJIqJA
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May 23, 2022 22:35
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I'm the little green blips trying to buy the dip.
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May 23, 2022 22:36
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Rad Russian posted:I wonder if these ATMs have gotten any better now. I remember crypto startups did spawn them everywhere 4-5 years ago but the trip reports were saying 50% of the time they did not work or just ate your bitcoin (with no way to get it back, no chargebacks!), and the other 50% of the time they charged $40-50 per withdrawal on top of whatever bitcoin gas fees you had to pay. So you would pay at least $100 to withdraw your $40 or whatever you wanted. A bunch of true believers were still going around and donating their own money to these to "encourage adoption" or whatever but guess that wasn't enough to keep them around as much. The Kroger store near me has one of those machines that you can dump your change into, and it gives you cash (minus some percentage) or like Amazon gift cards with lower/no money taken out. Recently, it's had a "Buy bitcoin here!" sign stuck up on it. I can't help but wonder if anyone's actually used that function on it.
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May 23, 2022 22:47
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"Pumpin' n Dumpin' on Rubes Coin" just tanked. It somehow had and lost 3 trillion dollars. They say a hacker named Bofa Goblin is responsible. The above story is fiction, yet it is difficult to discern that due to recent events.
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May 23, 2022 23:30
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Guze posted:Crypto guys love getting scammed. Just loving crash earth into the sun at this point, Christ
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May 23, 2022 23:48
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Guze posted:Crypto guys love getting scammed. So these rug pulls are just elaborate money laundering schemes right? No way so many people keep falling for them over and over again.
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May 23, 2022 23:49
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Zil posted:So these rug pulls are just elaborate money laundering schemes right? No way so many people keep falling for them over and over again. And how long has "MonkeyPoxInu coin" been around because the Monkey Pox thing just recently made the news. What, is this a 1 month from ICO to rugpull? Two weeks?
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May 24, 2022 00:43
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Zil posted:So these rug pulls are just elaborate money laundering schemes right? No way so many people keep falling for them over and over again. How would this even work as money laundering? The whole point of that is to get cash that's illegitimate (and thus something you don't want to declare on your taxes) a legitimate fig leaf to explain where it came from. So funneling all of your gambling and drug money into a mysteriously successful chain of laundromats. But this? I, the wealthy drug lord, buy your ponzi coins and then . . . . ???? So the value goes to zero, you rug pull and then . . . . what? Even assuming we're in it together and you just give it back to me, now I've still got millions of dollars in cash with no obvious and legal source.
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May 24, 2022 00:45
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Zil posted:So these rug pulls are just elaborate money laundering schemes right? No way so many people keep falling for them over and over again. I choose to believe that it's the same money endlessly circulating as the new scammers scam it off the old scammers.
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May 24, 2022 00:54
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LostCosmonaut posted:Just loving crash earth into the sun at this point, Christ
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May 24, 2022 01:04
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Zil posted:So these rug pulls are just elaborate money laundering schemes right? No way so many people keep falling for them over and over again. I assume they arrive at that $400,000,000 figure by multiplying the peak price by the total number of tokens, because it's only existed for less than a week and every exchange transaction is visible here, the largest of which are like 5 or 6 buys all at once for almost exactly $500 each I'd be shocked if there was as much as $10k in the ecosystem to be scammed. https://coinalpha.app/new-born/0x1e333a906c10d03ee8e301351c06a21cee579042
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May 24, 2022 01:04
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is it a rug pull if no one is standing on the rug
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May 24, 2022 01:09
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https://twitter.com/ricardovalp/status/1528772559709163520 Surely a coincidence.
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May 24, 2022 01:10
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ultrafilter posted:https://twitter.com/ricardovalp/status/1528772559709163520 So Bitcoin is being propped up by tether, which is in turn being propped up by an El Salvadoran state-run electric company...and El Salvador is being propped up by...Bitcoin?
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May 24, 2022 01:31
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There Bias Two posted:So Bitcoin is being propped up by tether, which is in turn being propped up by an El Salvadoran state-run electric company...and El Salvador is being propped up by...Bitcoin? going to invent a three legged chair and call it stablechair
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May 24, 2022 01:35
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There Bias Two posted:So Bitcoin is being propped up by tether, which is in turn being propped up by an El Salvadoran state-run electric company...and El Salvador is being propped up by...Bitcoin? Well, it's like this, if no one ever SEES the money, you can just SAY you have whatever amount of it you need wherever you say it's needed. Bing bong, as it were.
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May 24, 2022 01:50
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