Bitcoin: no angel investors, only Faustian bargains

The Something Awful Forums > Main > General Bullshit > Bitcoin: no angel investors, only Faustian bargains

kw0134: Apr 19, 2003; I buy feet pics🍆

Protocol7 posted:

Isn't anything you create technically subject to copyright, with caveats of course? You can explicitly waive your copyright if you choose, but legally speaking it's there by default.

I'm sure it gets muddy once you start considering links to receipts on a blockchain, but I sure as hell don't know.

If you're talking the original artwork, then yes, the copyright is generated the moment it's "fixed in a tangible medium" (which in this case is the hard drive that stores the file). You can then either disclaim your rights or register your copyright for further statutory protection, but you need not make a specific declaration that you're creating a copyrighted work in all countries that follow the Berne Convention or a derivative agreement, which is effectively everyone. I guess you're SOL if you're in Eritrea.

# ? Dec 18, 2021 20:15

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# ? May 31, 2024 09:11

Macichne Leainig: Jul 26, 2012; by VG

BrianRx posted:

A friend keeps sending me pictures of this interest rate he's getting on his "investment". It's some kind of peer to peer lending platform. I'm not going to run the numbers, but I'm pretty sure they're promising to payout a number closer to the amount of steps to the moon than the amount of currency in circulation. Looks quite a bit like a pyramid scheme desperately trying to attract new investors to pay out the older ones.

edit: even ignoring the APY and looking at the 5 day return, they're projecting more than doubling your investment every week. To compare, when 50% of Albania's GDP was "value" derived from projected gains in investments in widespread pyramid schemes, the big players were offering to double investments in three weeks. The whole thing collapsed before those payments were due.

Is this just a crypto-backed online gambling site? It sure looks like it. Good lord, they're not even pretending now.

# ? Dec 18, 2021 20:17

BrianRx: Jul 21, 2007

EorayMel posted:

The gently caress is that % lmao

Pretty sure it's the largest integer JavaScript will handle without crashing.

# ? Dec 18, 2021 20:18

drk: Jan 16, 2005

Looks like that scam has been around for like 2 weeks. Please come back in another 2 weeks and tell us how your friend lost everything

# ? Dec 18, 2021 20:25

Main Paineframe: Oct 27, 2010

BrianRx posted:

A friend keeps sending me pictures of this interest rate he's getting on his "investment". It's some kind of peer to peer lending platform. I'm not going to run the numbers, but I'm pretty sure they're promising to payout a number closer to the amount of steps to the moon than the amount of currency in circulation. Looks quite a bit like a pyramid scheme desperately trying to attract new investors to pay out the older ones.

edit: even ignoring the APY and looking at the 5 day return, they're projecting more than doubling your investment every week. To compare, when 50% of Albania's GDP was "value" derived from projected gains in investments in widespread pyramid schemes, the big players were offering to double investments in three weeks. The whole thing collapsed before those payments were due.

more like attracting new investors to convince the old investors that the massive piles of free tokens being handed out to those who've already bought in are still worth anything

# ? Dec 18, 2021 20:29

nexous: Jan 14, 2003; I just want to be pure

orange sky posted:

https://twitter.com/rynbtmn/status/1471932248995864584?t=kshxWchBNlW6ulehKO0hwg&s=19

Nexo has been hounding me via email trying to buy my Nexo.us domain but lol if they think I�m gonna touch the poop and get audited for money laundering

# ? Dec 18, 2021 20:30

There Bias Two: Jan 13, 2009; I'm not a good person

nexous posted:

Nexo has been hounding me via email trying to buy my Nexo.us domain but lol if they think I’m gonna touch the poop and get audited for money laundering

How much are they offering, and is it in cash?

# ? Dec 18, 2021 20:42

nexous: Jan 14, 2003; I just want to be pure

There Bias Two posted:

How much are they offering, and is it in cash?

The initial offer was 500, lol. They upped it to 1k after I ghosted them. I�d consider it for 5 figgies.

Not cash, no. They suggested using an escrow company of my choosing.

# ? Dec 18, 2021 20:44

Parkingtigers: Feb 23, 2008; TARGET CONSUMER
LOVES EVERY FUCKING GAME EVER MADE. EVER.

nexous posted:

Nexo has been hounding me via email trying to buy my Nexo.us domain but lol if they think I�m gonna touch the poop and get audited for money laundering

Offer to sell them an NFT of your domain.

# ? Dec 18, 2021 20:47

repiv: Aug 13, 2009

BrianRx posted:

A friend keeps sending me pictures of this interest rate he's getting on his "investment". It's some kind of peer to peer lending platform. I'm not going to run the numbers, but I'm pretty sure they're promising to payout a number closer to the amount of steps to the moon than the amount of currency in circulation. Looks quite a bit like a pyramid scheme desperately trying to attract new investors to pay out the older ones.

edit: even ignoring the APY and looking at the 5 day return, they're projecting more than doubling your investment every week. To compare, when 50% of Albania's GDP was "value" derived from projected gains in investments in widespread pyramid schemes, the big players were offering to double investments in three weeks. The whole thing collapsed before those payments were due.

your friend will have the last laugh in a year when he's a octillionaire!

https://www.wolframalpha.com/input/?i=168%2C314%2C850%2C022%2C099%2C940%2C000%2C000%2C000%2C000%25+of+361.79

repiv fucked around with this message at 21:31 on Dec 18, 2021

# ? Dec 18, 2021 20:50

drk: Jan 16, 2005

$500 is insulting. 500 ape jpegs, though...

# ? Dec 18, 2021 20:51

nexous: Jan 14, 2003; I just want to be pure

Parkingtigers posted:

Offer to sell them an NFT of your domain.

And then ill give them a loan with the nft as collateral!

# ? Dec 18, 2021 20:51

Macichne Leainig: Jul 26, 2012; by VG

Use their own ammo against them and offer cashback based on their loyalty tier as well.

(Of course, they don't have any loyalty accrued yet. :v:

)

# ? Dec 18, 2021 20:54

Mooseontheloose: May 13, 2003

BrianRx posted:

A friend keeps sending me pictures of this interest rate he's getting on his "investment". It's some kind of peer to peer lending platform. I'm not going to run the numbers, but I'm pretty sure they're promising to payout a number closer to the amount of steps to the moon than the amount of currency in circulation. Looks quite a bit like a pyramid scheme desperately trying to attract new investors to pay out the older ones.

edit: even ignoring the APY and looking at the 5 day return, they're projecting more than doubling your investment every week. To compare, when 50% of Albania's GDP was "value" derived from projected gains in investments in widespread pyramid schemes, the big players were offering to double investments in three weeks. The whole thing collapsed before those payments were due.

Isn't the first thing they teach you about investing is to beware big APY%? Like, an investment that claims that is clearly a scam.

# ? Dec 18, 2021 20:55

repiv: Aug 13, 2009

no i'm sure it will pay out 22 orders of magnitude more than the entire circulating supply of US dollars in a year, this is fine

# ? Dec 18, 2021 20:58

Main Paineframe: Oct 27, 2010

BrianRx posted:

A friend keeps sending me pictures of this interest rate he's getting on his "investment". It's some kind of peer to peer lending platform. I'm not going to run the numbers, but I'm pretty sure they're promising to payout a number closer to the amount of steps to the moon than the amount of currency in circulation. Looks quite a bit like a pyramid scheme desperately trying to attract new investors to pay out the older ones.

edit: even ignoring the APY and looking at the 5 day return, they're projecting more than doubling your investment every week. To compare, when 50% of Albania's GDP was "value" derived from projected gains in investments in widespread pyramid schemes, the big players were offering to double investments in three weeks. The whole thing collapsed before those payments were due.

any dumbass can make numbers go up in a spreadsheet

those numbers don't mean poo poo until you can actually cash out real dollars

no, not "cash out a small amount after a month to test it out". that's a classic failure in dealing with Ponzi schemes. the con artist can easily scrounge up five hundred bucks or whatever to "prove" the absurd APR on your tiny test investment, if that's what it takes to convince you to hand them your entire net worth

# ? Dec 18, 2021 21:07

Tunicate: May 15, 2012

Also even if you profit off the ponzi scheme they will rake profits back to try to compensate victims

# ? Dec 18, 2021 21:09

Macichne Leainig: Jul 26, 2012; by VG

It's always smooth sailing until it isn't. And then they've totally learned their lesson, right?

...right?

# ? Dec 18, 2021 21:10

Strong Sauce: Jul 2, 2003; You know I am not really your father.

Wasn�t the whole bored ape fat finger thing a lie because they traced the account that bought the ape and the guy had sent money to that address? I think he deleted his original tweet so the persons tweet that outed him isn�t there anymore.

# ? Dec 18, 2021 21:11

MechaCrash: Jan 1, 2013

No, that was a different thing, where someone was going OH MAN LOOK HOW MUCH I SOLD MY APE FOR and then someone traced the numbers and hey didn't you immediately give that other guy his money back?

# ? Dec 18, 2021 21:19

notwithoutmyanus: Mar 17, 2009

BrianRx posted:

A friend keeps sending me pictures of this interest rate he's getting on his "investment". It's some kind of peer to peer lending platform. I'm not going to run the numbers, but I'm pretty sure they're promising to payout a number closer to the amount of steps to the moon than the amount of currency in circulation. Looks quite a bit like a pyramid scheme desperately trying to attract new investors to pay out the older ones.

edit: even ignoring the APY and looking at the 5 day return, they're projecting more than doubling your investment every week. To compare, when 50% of Albania's GDP was "value" derived from projected gains in investments in widespread pyramid schemes, the big players were offering to double investments in three weeks. The whole thing collapsed before those payments were due.

ah, standard Olympus/ohm clone. They talk about making reserves/reserve prices but really 99% of these are pure pump and dump. Like obviously if people buy in they are your exit liquidity. Plus with a laughably unsustainable apy, people will have plenty to sell and overwhelm the buying interest. So price will head towards 0.

# ? Dec 18, 2021 21:29

BrianRx: Jul 21, 2007

Main Paineframe posted:

more like attracting new investors to convince the old investors that the massive piles of free tokens being handed out to those who've already bought in are still worth anything

Yeah, it's this. It's a DAO (Decentralized Autonomous Organization (lol)). It's not explicitly gambling, but gamblers are supposedly who is generating the returns. To participate, you have to exchange some known coin for the platform's coin, which has no value beyond its use on the specific site (like company script). Theoretically, to actually get your investment out, you would need to take it to an exchange that accepts that coin and take whatever they tell you it's worth, which may have nothing to do with the value claimed by the scheme. They are open about the fact that it only works if people leave their money in and they make periodic payments to investors to incentivize them to leave their principal alone.

The one he invested most heavily in lost 80% of its value this month and is down to its reserve price. This is actually good though because if you buy now your investment will only appreciate! He acknowledges that most of these sites are scams, but the ones he's involved in are ok for reasons.

In his (very weak) defense, he is a degenerate gambler who has learned to limit the amount of money he throws away to a sum that he can budget for. He's trying to get out of two of the schemes but wants to wait until he's even, which means he'll lose it all. He's not dumb at all, and ironically is extremely good at math, but he is always the "greater fool" in these things.

He next plans to invest in Web3, which is the wave of the future, apparently.

# ? Dec 18, 2021 21:35

ultrafilter: Aug 23, 2007; It's okay if you have any questions.

Mooseontheloose posted:

Isn't the first thing they teach you about investing is to beware big APY%?

Most of the people doing crypto now never learned anything about investing.

# ? Dec 18, 2021 21:38

deadwing: Mar 5, 2007

Mooseontheloose posted:

Isn't the first thing they teach you about investing is to beware big APY%? Like, an investment that claims that is clearly a scam.

no you see these are the levels of gains that The Global Elite Bankers have been trying to keep from you

# ? Dec 18, 2021 21:43

BrianRx: Jul 21, 2007

ultrafilter posted:

Most of the people doing crypto now never learned anything about investing.

But retail investment is good and redistributes power back to the average person! The wealthy in no way benefit from amateurs buying anything reddit tells them is a good investment!

Anyone want to do a death pool for the economy? Between the stock market and crypto (which are starting to mix) we're undeniably in a bubble and the only thing left is to wait for it to pop. If you win the pool, you don't get anything because none of us will have money to pay you after losing our jobs, our legit investments evaporate, and the political system gets the final nudge it needs to collapse, but it might be fun in the interim.

BrianRx fucked around with this message at 21:50 on Dec 18, 2021

# ? Dec 18, 2021 21:47

acidx: Sep 24, 2019; right clicking is stealing

deadwing posted:

no you see these are the levels of gains that The Global Elite Bankers have been trying to keep from you

this and 140% of all dollar bills in circulation today were printed this year and all of the government problems plus of the federal reserve which is as federal as federal express.

# ? Dec 18, 2021 23:39

Doctor_Fruitbat: Jun 2, 2013

nexous posted:

The initial offer was 500, lol. They upped it to 1k after I ghosted them. I’d consider it for 5 figgies.

Not cash, no. They suggested using an escrow company of my choosing.

Tell 'em to put a one and two zeros in front or you'll pass.

# ? Dec 18, 2021 23:45

Zil: Jun 4, 2011; Satanically Summoned Citrus

https://twitter.com/iboudreau/status/1471939526557843463

# ? Dec 19, 2021 00:40

BigRed0427: Mar 23, 2007; There's no one I'd rather be than me.

Zil posted:

https://twitter.com/iboudreau/status/1471939526557843463

There's gonna be a lot of USPS clerks having to deal with Crypto bros who's postcard got damaged in the mail.

"YOU BITCH! THIS WAS WORTH 100,000!"

# ? Dec 19, 2021 00:44

Gutcruncher: Apr 16, 2005; Go home and be a family man!

So is it just a postcard they�ll only print once or is it for some reason ALSO an NFT?

# ? Dec 19, 2021 00:47

coelomate: Oct 21, 2020

Everything is an NFT and nothing is an NFT

Embrace the void

# ? Dec 19, 2021 01:26

nomad2020: Jan 30, 2007

Your face is an NFT

# ? Dec 19, 2021 01:34

Xanderkish: Aug 10, 2011; Hello!

Zil posted:

https://twitter.com/iboudreau/status/1471939526557843463

The trading cards of the rich and stupid.

# ? Dec 19, 2021 01:44

Prurient Squid: Jul 21, 2008; Tiddy cat Buddha improving your day.

Zil posted:

https://twitter.com/iboudreau/status/1471939526557843463

THIS is what it took to make me realise that Elon Musk looks like Thom Yorke.

# ? Dec 19, 2021 02:26

Plant MONSTER.: Mar 16, 2018; I was watching simpsons at 0.75 without knowing until a scene where homer and bart were getting back massages at a hotel and the noises they were making were super drawn out like a youtube poop

So Ottawa just went from a long rear end stretch of 20ish cases a day to ~50 and then a few days of 100+ and now we seem to be having 200~300 a day and now the mayor has it. Fortunately the hospitals aren't overrun with covid patients because we're mostly vaccinated but geepers.

# ? Dec 19, 2021 02:58

CaptainSarcastic: Jul 6, 2013

Plant MONSTER. posted:

So Ottawa just went from a long rear end stretch of 20ish cases a day to ~50 and then a few days of 100+ and now we seem to be having 200~300 a day and now the mayor has it. Fortunately the hospitals aren't overrun with covid patients because we're mostly vaccinated but geepers.

More people are catching a case of the NFTs?

# ? Dec 19, 2021 03:09

Wifi Toilet: Oct 1, 2004; Toilet Rascal

Plant MONSTER. posted:

So Ottawa just went from a long rear end stretch of 20ish cases a day to ~50 and then a few days of 100+ and now we seem to be having 200~300 a day and now the mayor has it. Fortunately the hospitals aren't overrun with covid patients because we're mostly vaccinated but geepers.

I hope I don't catch crypto

e: will these immunize me from crypto?

Wifi Toilet fucked around with this message at 03:13 on Dec 19, 2021

# ? Dec 19, 2021 03:10

Plant MONSTER.: Mar 16, 2018; I was watching simpsons at 0.75 without knowing until a scene where homer and bart were getting back massages at a hotel and the noises they were making were super drawn out like a youtube poop

wrong goddamn thread

# ? Dec 19, 2021 03:47

Plant MONSTER.: Mar 16, 2018; I was watching simpsons at 0.75 without knowing until a scene where homer and bart were getting back massages at a hotel and the noises they were making were super drawn out like a youtube poop

don't get covid and don't do nfts but do some drugs

# ? Dec 19, 2021 03:48

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# ? May 31, 2024 09:11

Ad by Khad: Jul 25, 2007; Human Garbage
Watch me try to laugh this title off like the dickbag I am.
I also hang out with racists.

it took nine long loving years but crypto science finally made the breakthrough and innovated a higher APY than pirateat40

congrats on your moon

# ? Dec 19, 2021 04:11

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