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Xanderkish posted:I recently read this article by Noah Smith (or what I can read of it, since it's on Substack and I don't have a paid subscription) on "Crypto and the global financial system". He speculates that at some point cryptocurrencies might act as or obviate the need for reserve currencies. You're right to be skeptical, because you should be skeptical of any post like this that fails to acknowledge that there is no extant example of a cryptocurrency that functions in such a way that it could serve as a viable currency. His argument is premised on something that does not exist. My eyebrows also went up at him uncritically describing Tether as an "innovation", but I can't read much past that part as it's paywalled after that. (Anecdotally, I see this dude pop up on twitter every now and then, and he seems like yet another one of those libertarian-adjacent economists who, when he does grapple with a question in good faith, manages to talk himself in circles in the way only a libertarian-adjacent economist can.)
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Dec 16, 2021 17:26
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zedprime posted:You don't exactly regulate out the scams that don't work. Yeah but you hope people don’t fall for the same scams but here we are, the internet launching millions of dollars right into a sarlacc pit because the sarlacc pit said that would make them rich
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Dec 16, 2021 17:30
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 Congrats for making something as stupid as an NFT even dumber.
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Dec 16, 2021 17:41
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Xanderkish posted:As far as I know, Crpyto has no answer to fraudulent transactions outside of "Lol, maybe don't get scammed, scrub". like NFT infringement, the answer is to preemptively run your own scams 
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Dec 16, 2021 17:48
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jokes posted:Yeah but you hope people don’t fall for the same scams but here we are, the internet launching millions of dollars right into a sarlacc pit because the sarlacc pit said that would make them rich "This is currency 2.0, no fed allowed" is a huge issue to ignore swift regulatory application because it basically allows a platform that someone can take every bad actor from the 20th century and emulate their scams to the letter and reap a huge benefit. The popularity of a lawless form of wealth is obvious if it makes you immune to legal proceedings for your scams because the regulators are busy going "well not my problem."
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Dec 16, 2021 17:57
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CRUSTY MINGE posted:Every time a new dumb scam comes out, I'm encouraged to buy the shittiest 5 acres in a desert and sell crypto backed by 1 square foot of land on that acreage at $1 a coin/token (maybe call them deeds), then keep buying sub-$1000/acres of sand land to sell until the LLC has millions I can run off with to south america. https://twitter.com/citydao
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Dec 16, 2021 18:59
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Bleusilences posted:She need to contact the hosting company, they might be able to take down the site where her photo actually are. Most NFT images are hosted on IPFS, which is basically BitTorrent for CDNs. So, there isnt really any direct way to to get the image removed.
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Dec 16, 2021 19:11
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drk posted:Most NFT images are hosted on IPFS, which is basically BitTorrent for CDNs. So, there isnt really any direct way to to get the image removed. It makes it a bit more difficult but you still have a server somewhere actually hosting the image in the IPFS network. Most NFTs that are on IPFS will probably use a pinning service like Pinata that can certainly be sued or DMCAed. For these small-time ripoffs that should probably be enough to 404 the IPFS link. The scammer can host it on their home PC as well if they want but that also opens them up to liability in the same way that hosting a torrent would.
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Dec 16, 2021 19:15
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drk posted:Most NFT images are hosted on IPFS, which is basically BitTorrent for CDNs. So, there isnt really any direct way to to get the image removed. i think if you get it removed from opensea it basically doesn't exist anymore because nothing is really decentralized.
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Dec 16, 2021 19:16
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Opensea themselves appear to use google to host their image copies. I imagine there is a way to get google to take down that specific copy. The whole point of the post a couple pages ago was that its a huge hassle. Yes, the artist can play whack a mole trying to get individual copies or IPFS nodes taken down. But the balance of power is way in favor of the scammers, who can trivially list, and relist anything they want without verifying they own it.
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Dec 16, 2021 19:46
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Bleusilences posted:She need to contact the hosting company, they might be able to take down the site where her photo actually are. Probably would be a good idea to get a collective of artists together to mass-DMCA them. Might even be able to automate it.
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Dec 16, 2021 19:55
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Cryptobros hate them. Learn this one weird trick to take down the blockchain with legal action and save the planet from global warming. fake edit: Cryptonite
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Dec 16, 2021 20:38
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Strong Sauce posted:i think if you get it removed from opensea it basically doesn't exist anymore because nothing is really decentralized. Pretty much https://www.statista.com/statistics/1274843/nft-marketplaces-with-highest-volume/
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Dec 16, 2021 20:41
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Three Olives posted:
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Dec 16, 2021 21:26
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Sashimi posted:Now hold on, it says that physical artwork and an amulet is part of a package. Assuming there's no hidden fuckery (lol) you'd actually own physical assets along with the NFT bullshit. Somehow Melania Trump may be one of the less scammy elements in the NFT cesspool. You forget the audio message of hope. That has to be worth something.
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Dec 16, 2021 21:44
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Salt Fish posted:You forget the audio message of hope. That has to be worth something.
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Dec 16, 2021 21:46
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https://twitter.com/Matt_Hougan/status/1471489244824674306 lol @ "blue chip NFTs". their "investment case" is pretty funny too: https://static.bitwiseinvestments.com/FundDocs/nftFund/Bitwise-Blue-Chip-NFT-Index-Fund-Investment-Case.pdf On one hand, this appears to be only open to accredited investors (aka,  levels of wealth and/or income), who I'd have a hard time feeling bad for if they get fleeced. On the other hand, this is some crypto bullshit company, so theres a nearly 100% chance there is just a box that says "click here to certify you are an accredited investor" with no actual verification.
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Dec 16, 2021 22:05
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drk posted:https://twitter.com/Matt_Hougan/status/1471489244824674306 Just use the same firm that "verified" Tether's books.
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Dec 16, 2021 22:18
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Sashimi posted:Now hold on, it says that physical artwork and an amulet is part of a package. Assuming there's no hidden fuckery (lol) you'd actually own physical assets along with the NFT bullshit. Somehow Melania Trump may be one of the less scammy elements in the NFT cesspool. It’s incredible that the one and only NFT that isn’t a scam also is just a huge flashing sign that says “then why even have an NFT in there!?”
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Dec 16, 2021 22:36
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drk posted:On one hand, this appears to be only open to accredited investors (aka, Eh, the wealth & income levels to be an "accredited investor" haven't meaningfully changed since 1982, so you can be pretty drat middle class and meet the definition. Being a millionaire, as in having 1 million dollars total, isn't exactly wealth these days.drk posted:On the other hand, this is some crypto bullshit company, so theres a nearly 100% chance there is just a box that says "click here to certify you are an accredited investor" with no actual verification. I don't thing there is actual verification of assets even for non-scam securities that have nothing to do with crypto. You fill out some forms and sign it, maybe provide supporting documentation that could easily be forged or shopped. That's it, you've certified that you're an accredited investor. The people on the other end keep the forms, and can hold it up in front of the court when you try to sue for losing all your money in Magic Beans Tokens. If you really want to sign up to get punched in the dick the SEC isn't gonna stop you. You can falsify your investor questionnaire and throw away your legal protections, or invest in off-exchange pink sheet stocks, or make your investment choices using a book you ordered from a 3am infomercial that gives you stocks picks with astrology. The SEC cares about protecting the system, not about keeping people from losing their shirt. But if they're actually doing the thing properly and making people fill out the forms and everything, that's like a million times more legit and above-board than most other crypto scams.
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Dec 17, 2021 01:32
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https://twitter.com/stalker_thegame/status/1471620399997886472
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Dec 17, 2021 02:20
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Who will be the next group of idiots to stick their dick in the nest of NFTs? Tune in tomorrow and find out!
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Dec 17, 2021 02:36
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Super weird that these NFT's aren't being embraced by gamers as the self-evidently good and utopian idea they are.
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Dec 17, 2021 02:38
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just lmao at all the noisy stalkers out there getting nfts to celebrate their incompetence e: or not getting nfts if you're into reading comprehension
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Dec 17, 2021 02:43
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a lot of gamers are pretty sick of the nickel and dimeing they keep having to deal with just to play their games. probably the final straw with people was EAs whole fiasco with star wars battlefront 2. after both the negative fan response _AND_ the legal litigation/hearings it kicked up a lot of these companies have been less hesitant to do something like this. ubisoft released some NFTs, but for a game gamers already hated anyways. so unless those somehow generate a lot of interest they probably won't go full bore with them either.
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Dec 17, 2021 02:49
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Klyith posted:Eh, the wealth & income levels to be an "accredited investor" haven't meaningfully changed since 1982, so you can be pretty drat middle class and meet the definition. Being a millionaire, as in having 1 million dollars total, isn't exactly nice flex, tell us more about your $300k income or 7 figure net worth
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Dec 17, 2021 03:30
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I guess south park dunked on NFTs in its newest episode special. https://twitter.com/EdgarAronov/status/1471428573709971464?t=9W129xP_imWF4pmX3T96tg&s=19 https://youtu.be/cuf6b5kkfSg I haven't seen the whole episode yet so I don't know if there's more Happy Landfill fucked around with this message at 03:52 on Dec 17, 2021 |
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Dec 17, 2021 03:45
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Given that South Park is written by Libertarians, their dunking on it seems slightly more significant than dunking on it from the usual political crowd.
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Dec 17, 2021 03:51
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I personally hate the financial institutions, and I don't trust the checks and balances they have. Clearly the solution is to move to crypto which is completely unregulated and has no checks and balances. This makes sense because if no one is held accountable, we all are, like that guy from Watchmen said.
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Dec 17, 2021 03:55
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good god South Park is still going???
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Dec 17, 2021 04:08
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A Wizard of Goatse posted:good god South Park is still going??? they just signed a long term deal with viacom for nearly a billion
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Dec 17, 2021 04:15
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the holy poopacy posted:like NFT infringement, the answer is to preemptively run your own scams I was going to post the same thing. I'm going to post a copy of it (with a slight change to keep it unique) any way. Xanderkish posted:As far as I know, Crpyto has no answer to fraudulent transactions outside of "Lol, maybe don't get scammed, scrub". Like NFT infringement, the answer is to preemptively run your own scams
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Dec 17, 2021 04:20
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Random Stranger posted:Who will be the next group of idiots to stick their dick in the nest of NFTs? Tune in tomorrow and find out! Kickstarter's gone past the dick and has pulled out the balldo: https://twitter.com/Kickstarter/status/1471178556034199555 https://twitter.com/Kickstarter/status/1471178647222603777 The comments are nothing but creators who've run big campaigns and end users telling them to gently caress off with this or they're done, so of course they're doubling down.
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Dec 17, 2021 04:35
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https://www.kickstarter.com/articles/lets-build-whats-next-for-crowdfunding-creative-projectsquote:You may have heard of HTTP (Hypertext Transfer Protocol) which helps you browse the web, or SMTP (Simple Mail Transfer Protocol) which helps you send email. Protocols like these make up the unseen infrastructure of the internet. Imagine that, but for crowdfunding creative projects. oh my god quote:Does this mean at some point in the future, you’ll only accept cryptocurrency? so um what does it do exactly? quote:We are confident that a crowdfunding protocol built on top of Celo will not significantly negatively impact our carbon emissions given its underlying architecture. It may, in fact, meaningfully reduce our carbon footprint. Here’s why: Literally the only way this makes sense is that they're moving their webhosting away from "the cloud" and onto your home computer. Salt Fish fucked around with this message at 04:41 on Dec 17, 2021 |
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Dec 17, 2021 04:38
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Yeah, their big use case is 'creators can give their backers tokens to enable unique experiences', which is... something they can already do now, without rolling in crypto poo poo. Or, given the IRS' position on crypto transactions, unwittingly running up enormous unexpected tax obligations by making crypto sales that have been described to them as crowdfunding donations.
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Dec 17, 2021 04:40
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you may have heard of, HTTP
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Dec 17, 2021 04:43
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Salt Fish posted:Literally the only way this makes sense is that they're moving their webhosting away from "the cloud" and onto your home computer. Which also would not make sense because cloud computing is likely optimized to be more energy efficient than home computer use. At this point, I can replace "Celo" with "the love and grace of our Lord Jesus Christ" and it makes about as much sense.
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Dec 17, 2021 04:46
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Xanderkish posted:Given that South Park is written by Libertarians, their dunking on it seems slightly more significant than dunking on it from the usual political crowd. South Park has been swinging left for the past decade. Yeah, there's still middle of the road poo poo that comes up, but they're leaning hard into making the right wing look like absolute asses. The specials are worth watching if you have Paramount+, but the rest of the series isn't available to stream on Paramount+. Their scam is different from my idea. They want to make crypto the only currency of their land, so poo poo like the corner store they'll probably never build would only accept crypto. I'm on the tradable souvenir plot train. I don't want people milling around the land or trying to build on it, because it won't be registered to them, but the LLC that owns the "nature preserve" that just "backs" the coins with square footage.
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Dec 17, 2021 04:48
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drk posted:you may have heard of, HTTP tell me more when do you think HTTP will moon?
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Dec 17, 2021 04:49
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i am ready to invest i have $8.43
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Dec 17, 2021 04:49
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