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I don't think that's 200 individual voters. I strongly suspect that this is one of those systems where voting is done by shares. So if you own 1 token you get 1 vote, and if you own 1 million tokens you get 1 million votes. Same way most companies do stockholder votes.
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May 26, 2022 02:11
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nullEntityRNG posted:I think this is what baffles me the most about this. You're telling me that out of, according to estimates, the 6000 billion token holders, 200 million basically went "whoopsies! That didn't happen. Were back to normal and everything is back the way it was before the crash" Pretty sure that's not the number of people who voted, but rather the number of tokens that voted. Since anonymous trustless blockchain systems are fundamentally incapable of enforcing "one person, one vote", they instead go with "one token, one vote". If you buy up 1 million Luna, you get 1 million votes.
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May 26, 2022 02:17
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Correct. 200 million "shares" voted yes, but there is apparently 6000 billion luna tokens that was issued out. Now I'm sure a huge amount of those have been burned or in dead wallets so its slightly hyperbolic but its still nutty they can just go "mulligan" and people latch back on
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May 26, 2022 02:18
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nullEntityRNG posted:I think this is what baffles me the most about this. You're telling me that out of, according to estimates, the 6000 billion token holders, 200 million basically went "whoopsies! That didn't happen. Were back to normal and everything is back the way it was before the crash" What part of "trustless, decentralized, democratic currency" and "immutable Blockchain" don't you understand, commie?
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May 26, 2022 02:38
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nullEntityRNG posted:Correct. 200 million "shares" voted yes, but there is apparently 6000 billion luna tokens that was issued out. Now I'm sure a huge amount of those have been burned or in dead wallets so its slightly hyperbolic but its still nutty they can just go "mulligan" and people latch back on Voting no: "we do nothing, and your luna tokens continue to be worth nothing" Voting yes: "we do the ponzi again with luna 2.0, and your luna 1.0 is worth nothing" They're voting on whether they should have cherry or tropical punch variety of Flavor Aid with their cyanide. Is it really that surprising that voter turnout was low?
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May 26, 2022 02:49
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priznat posted:How do you prove your ownership of these stupid apes anyway. Is there a qr code or some poo poo or is it way way dumber (I am guessing dumber) It's easy just transfer it to my account to prove it's yours (I pinky promise to give it back)
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May 26, 2022 02:58
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Doesn't that just outright gently caress all the people who bought 1 trillion Luna for 100 bucks last week?
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May 26, 2022 03:05
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Heath posted:Doesn't that just outright gently caress all the people who bought 1 trillion Luna for 100 bucks last week? Should've thought of that before buying the dip
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May 26, 2022 03:07
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Heath posted:Doesn't that just outright gently caress all the people who bought 1 trillion Luna for 100 bucks last week? And?
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May 26, 2022 03:33
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CODE IS LAW
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May 26, 2022 03:41
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what's really funny is how all blockchains are highly forkable. since there's nothing backing them except attention and expectation, it's weird it doesn't happen more often. surely the rational thing to do after any transaction where you spend any money on ScamCoin is to fork the chain to when you didn't and spam your twitter with SuperScamCoin – if you had ScamCoin now you have SuperScamCoin as well!
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May 26, 2022 03:42
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Gutcruncher posted:Okay I guess that’s a use of NFTs. “Making tickets worse by empowering scalpers more” Once had someone tell me that NFTs would fix the scalper problem and acted like I was an idiot when I said NFTs are a godsend for scalpers.
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May 26, 2022 04:55
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I vaguely remember there was a "hack" of a different coin/chain recently where the attacker bought enough of the coin supply so he had a quorum, ran a poll like that, voted it legal for him to "loan" himself all the other coins from everyone, then immediately just cashed out. I know very little about bitcoin and these governance things so I'm probably wrong but that's what I remember from the story and it made me lol.  Edit: This is what I was remembering: Beanstalk Farms Lost $180M in Flash Loan Attack, Hacker Donates 250K USDC to Ukraine \/\/\/ - "You know, blockchain is so secure, why don't we build the blockchain rules out of blockchain? Genius!" =D Lor fucked around with this message at 06:37 on May 26, 2022 |
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May 26, 2022 06:19
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Lor posted:I vaguely remember there was a "hack" of a different coin/chain recently where the attacker bought enough of the coin supply so he had a quorum, ran a poll like that, voted it legal for him to "loan" himself all the other coins from everyone, then immediately just cashed out. Nah, that’s about it. The only other amusing detail is that he acquired enough BlorpoCoins to have majority share by using a relatively small flash loan.
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May 26, 2022 06:25
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The funny part is that most of the cryptocurrency they stole (the "BEANs") immediately became worthless as a result of the hack, so the thief didn't even profit from stealing it. It was purely an act of economic arson, the equivalent of taking and burning someone's money. Though they also had 24,830 Ethereum that the hacker stole (worth almost $50 mil), a lot of which the hacker seems to have cashed out already. They could've just stolen the eth, but they chose to completely destroy their community instead. You gotta respect that.
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May 26, 2022 06:44
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Dr. Video Games 0031 posted:The funny part is that most of the cryptocurrency they stole (the "BEANs") immediately became worthless as a result of the hack, so the thief didn't even profit from stealing it. It was purely an act of economic arson, the equivalent of taking and burning someone's money. F
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May 26, 2022 06:46
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But the libertarians assured me a rational actor would never do that.
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May 26, 2022 06:47
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*extremely Michael Caine voice* some people just want to watch the world burn
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May 26, 2022 07:05
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Dr. Video Games 0031 posted:correct, actually, because there's no stablecoin counterpart now. it will fail in a completely new way My mistake, I assumed that they would just dust themselves off and fork Luna. Instead they're starting a completely new blockchain and trying to get people to put money in by airdropping Luna 2.0 tokens to existing 1.0 bag holders who look gullible enough to get involved again https://www.coindesk.com/tech/2022/05/25/terra-snapshot-expected-this-week-heres-how-new-luna-will-be-distributed/ Seriously anyone who loses money on Luna v2.0 just can't be helped. All you can do is point and laugh
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May 26, 2022 07:39
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*hands u the worst poo poo imaginable* first ones free....
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May 26, 2022 07:40
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Such is the dichotomy of crypto. The people voting for this might not believe in the viability of the new project, or crypto at all, but they can certainly believe in the shared delusion that it will be worth something, particularly in the immediate short term post launch, so they realise it makes more sense to possess something that hasn’t started smelling yet compared to something that has been dead for weeks. It always amuses me how there are vesting periods with this stuff (not sure if It’s the case with this) to prevent people just dumping their gifted coins on the market. It’s almost as if everyone involved knows that this is the prudent strategy, so they have to prevent it happening lol.
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May 26, 2022 08:54
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I was listening to a podcast today and I heard something that made me laugh It's David Spade on Smartless, (Jason Bateman, Sean Hayes, Will Arnett) and there's a bit at the end when Spade is talking about selling his house and he mentions that some prospective buyers offered half cash/half bitcoin and said they could get him some prime real estate in the metaverse. "I'm just looking for money right now at this juncture" is a good line. Showed me another way some of these scammers are converting their internet pogs into proper money. Here's a link to the bit in the podcast. https://open.spotify.com/episode/4yTfBe7FkOYNnrAPTL1g8M?si=wyV2u5wZQVWdkaRFeA9jAw&utm_source=copy-link&t=3779
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May 26, 2022 09:50
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Dutch Postoffice releases NFT stamps Hoping to make stamp collecting cool again. quote:The ‘NL crypto stamp’ is a physical postage stamp that has a ‘digital twin’ in the blockchain. This digital version becomes visible by scanning the QR code on the physical stamp. You can then activate, collect, exchange and trade it via blockchain. Its digital twin is a so-called non-fungible token (NFT).
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May 26, 2022 09:57
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Could someone tell me how a Luna 2.0 would be worth anything more than 0 at launch? As all the cash is gone
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May 26, 2022 10:00
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Betjeman posted:Could someone tell me how a Luna 2.0 would be worth anything more than 0 at launch? As all the cash is gone Crypto attracts morons.
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May 26, 2022 10:04
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Betjeman posted:Could someone tell me how a Luna 2.0 would be worth anything more than 0 at launch? As all the cash is gone same as any other shitcoin, the belief that it will go to the moon or at least get back to $100 due to collective delusion there is no stablecoin this time (at least so far)
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May 26, 2022 10:05
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I keep loving thinking of grifts, and I run it by some of my moral compass people and they are like "yeah it would probably work, but that's wrong, and you would feel bad later." But someone is going to take their money anyway. I could at least put it to better use. Not just for me. Just skim a finders fee. Curse you, ethics.
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May 26, 2022 10:25
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I've read most of this thread and I still don't understand crypto mindset. At the end of the day crypto is worthless and it's only the dollar backing it that gives it any notional value.
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May 26, 2022 10:27
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Betjeman posted:I've read most of this thread and I still don't understand crypto mindset. At the end of the day crypto is worthless and it's only the dollar backing it that gives it any notional value. That's because you aren't a moron. At least not about cryptocurrency.
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May 26, 2022 10:32
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https://twitter.com/brookverse/status/1529197352459837444 Notorious R.U.G.
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May 26, 2022 11:05
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I was eating some notorious big rap snacks the other day. They were pretty good they were a sweet jalapeno bbq flavor and I got them from a best buy maybe I should put all my money into this
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May 26, 2022 11:10
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Mozi posted:CODE IS LAW hollerin' this as I propel my Tercel into a ten foot thick concrete barrier at maximum speed, turning my remains into a red mist
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May 26, 2022 11:43
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Mad Dragon posted:
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May 26, 2022 11:44
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Deep Glove Bruno posted:hollerin' this as I propel my Tercel into a ten foot thick concrete barrier at maximum speed, turning my remains into a red mist "code is law," i assure myself as i close my eyes and ram the federal reserve with my lovely bronco
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May 26, 2022 11:50
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Betjeman posted:I've read most of this thread and I still don't understand crypto mindset. At the end of the day crypto is worthless and it's only the dollar backing it that gives it any notional value. "At the end of the day" The trick is NOT to have crypto at the end of the day now. It's get in at the start, keep it for a short time, and hopefully sell higher before the rug is pulled or it just crashes.
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May 26, 2022 11:55
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Dr. Video Games 0031 posted:The funny part is that most of the cryptocurrency they stole (the "BEANs") immediately became worthless as a result of the hack, so the thief didn't even profit from stealing it. It was purely an act of economic arson, the equivalent of taking and burning someone's money. https://www.youtube.com/watch?v=9zFTOqSi99I Death to Meow Meow Beanz
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May 26, 2022 11:58
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Betjeman posted:I've read most of this thread and I still don't understand crypto mindset. At the end of the day crypto is worthless and it's only the dollar backing it that gives it any notional value. Now factor in the vast amount of real world electricity, warehousing, electronics etc. required to keep the lights on, which is constantly (almost invisibly) draining more and more real money out of the box...
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May 26, 2022 12:10
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To quote that one professor, cryptocurrency is a deeply negative-sum game, worse than a ponzi scheme because of all the value that is drained out of it by the mining process. It needs that many more suckers drawn into it to maintain the pyramid before it collapses.
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May 26, 2022 12:14
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Betjeman posted:I've read most of this thread and I still don't understand crypto mindset. At the end of the day crypto is worthless and it's only the dollar backing it that gives it any notional value.  intrinsic value
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May 26, 2022 12:26
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Betjeman posted:I've read most of this thread and I still don't understand crypto mindset. At the end of the day crypto is worthless and it's only the dollar backing it that gives it any notional value. I've always found this nickname sums the crypto mindset up quite succinctly: https://twitter.com/codinghorror/status/414157007625531394?s=20&t=gSkvhVWquh_Uw_00KAWoWg
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May 26, 2022 13:43
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