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Sage Grimm
Feb 18, 2013

Let's go explorin' little dude!
That's not the only copying they've been doing
https://twitter.com/ButtCoin/status/1544354670386110465

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Popete
Oct 6, 2009

This will make sure you don't suggest to the KDz
That he should grow greens instead of crushing on MCs

Grimey Drawer
I'm starting to wonder if they really do have a partnership for a custom CPU/GPU from NVIDIA...

MarcusSA
Sep 23, 2007

https://twitter.com/9_volt_/status/...ingawful.com%2F

Darth TNT
Sep 20, 2013

Countblanc posted:

I feel like most True Believers only become as such after being surrounded by other true believers or scammers. Like it isn't too far fetched to imagine someone seeing a tweet about a weird new tech and joining a discord, and hey these people are really excited and posting """"funny""" memes and talking about video games! Fast forward a month and now I'm seeing Twitter strangers calling those people stupid fuckers but now this is part of my identity and they're being mean to my In Group so it's time to double down baby!!!

It doesn't help that like, news outlets and other platforms with a degree of authority were talking about how great it is. I remember an NPR interview earlier into the pandemic where they were talking to some dude who sold his art as NFTs and he kept talking about how great it is that nfts let young poor artists survive in such difficult times, and the interviewer just bought into it wholesale

There's a reason they're trying to hound people into their Discord

Lammasu
May 8, 2019

lawful Good Monster
They have four loving people working on this.

Popete
Oct 6, 2009

This will make sure you don't suggest to the KDz
That he should grow greens instead of crushing on MCs

Grimey Drawer
Well they also have the backing of all the people at NVIDIA who are providing them a custom CPU/GPU. That's gotta count for something.

Ghostlight
Sep 25, 2009

maybe for one second you can pause; try to step into another person's perspective, and understand that a watermelon is cursing me



it's such a polite term for chips failing a performance test.

lagidnam
Nov 8, 2010
The "Touch ID" feature got changed to "Scanner". I guess as a precaution before the scam gets so big that Apple starts looking at it.

Lammasu
May 8, 2019

lawful Good Monster
Slope broke his rule about not covering something till it's done.
https://www.youtube.com/watch?v=oE7zNIjOM54

Darth TNT
Sep 20, 2013

Lammasu posted:

Slope broke his rule about not covering something till it's done.
https://www.youtube.com/watch?v=oE7zNIjOM54

I had no idea who Slope was, but this video was pretty funny. Always fun to see a guy enjoy himself.

Sage Grimm
Feb 18, 2013

Let's go explorin' little dude!
https://www.pcgamer.com/developer-turns-future-of-gaming-talk-into-a-surprise-attack-on-conventions-nft-and-blockchain-sponsors/

Developer decides to trick swerve into talking about how Web3 loving sucks dick during a Brazil International Games festival to his audience. Said convention was sponsored heavily by NFT companies, but he did check first with the organizers before proceeding (they gave him the green light so good on them too). And then did a double-trick ollie into actually talking about the future of gaming. We need more of these folks.

lagidnam
Nov 8, 2010
Gamestop launched it`s own NFT marketplace, it didn't go as well as they hoped:

https://arstechnica.com/gaming/2022/07/analysis-gamestop-nft-trading-slows-in-marketplaces-first-week/?comments=1

I also tried to click the link to the NFT section on Gamestop.com and...

quote:

403 ERROR
The request could not be satisfied.
Request blocked. We can't connect to the server for this app or website at this time. There might be too much traffic or a configuration error. Try again later, or contact the app or website owner.
If you provide content to customers through CloudFront, you can find steps to troubleshoot and help prevent this error by reviewing the CloudFront documentation.

Popete
Oct 6, 2009

This will make sure you don't suggest to the KDz
That he should grow greens instead of crushing on MCs

Grimey Drawer
I guess it's not surprising that the company buoyed by being a meme stock decided to go all in on NFTs.

deep dish peat moss
Jul 27, 2006

The people on Reddit who have Gamestop stock think that over the next few days the SEC is going to force a wallstreet broker to buy all of their Gamestop stocks at a price of literally $10 million per share

Makes me wonder how much of that $800k trading volume was Gamestop-holding dorks who think they're about to become fabulously rich and were spending money they don't actually have

Dark_Swordmaster
Oct 31, 2011

deep dish peat moss posted:

The people on Reddit who have Gamestop stock think that over the next few days the SEC is going to force a wallstreet broker to buy all of their Gamestop stocks at a price of literally $10 million per share

Makes me wonder how much of that $800k trading volume was Gamestop-holding dorks who think they're about to become fabulously rich and were spending money they don't actually have

That's not real. There's no loving way. They cannot possibly believe this. This is a satire-gone-too-far joke post. YOU ARE LYING! YOU HAVE TO BE loving LYING!

deep dish peat moss
Jul 27, 2006

Dark_Swordmaster posted:

That's not real. There's no loving way. They cannot possibly believe this. This is a satire-gone-too-far joke post. YOU ARE LYING! YOU HAVE TO BE loving LYING!

Here's what I understand of their thought process:
The whole thing started because they realized Citadel Securities (or whatever their name is) was shortselling Gamestop, they sold more GME shares than they held. When they realized this, /r/wallstreetbets scrambled to buy up every GME share they could get their hands on and convince people to hold onto them until the SEC forces Citadel to purchase as many shares as they need in order to complete their sale. The thought was that all of the WSB posters could buy up every existing share and then only list them at extreme prices, which they believe Citadel will be forced to pay. They have all been "Direct Registering" their shares with Computershare which I guess prevents those shares from being used in short sales or something.
(They call this the MOASS or Mother of All Short Sales [?])

On the low end, they were all banking on automated limit sell orders on computershare which had a maximum limit of $214,748 until the GME stock split a while back. However, Computershare changed the limit to $3500 per share following GME's split:
https://www.reddit.com/r/Superstonk/comments/w3y1e0/computershare_new_sell_limit_order_prices/
The top voted comments in this thread are all about how this is actually a good thing because no one will actually sell at $3500 like they would have at $214,748, which means that Citadel will not be able to buy enough shares from sell orders to complete their short sale.

You can see that as of today, while the GME NFT marketplace's trade volume has dropped by 90%, they're still talking about it like it's Digital Jesus:
https://www.reddit.com/r/Superstonk/comments/w3w6pu/gme_marketplace_volume_1001578654_6428423_eth_boom/

I can't find them now but there are comments throughout various threads where people talking about what they plan to sell at, with most of them expecting to get anywhere from $1m-$10m per share.

What I'm guessing will happen if anything at all happens (I am not a financial expert at all and have no idea what I'm talking about) is Citadel will eventually have to buy a bunch (not "all of them" like reddit thinks) but they're going to get them at under the (new) $3500 limit order price set by Computershare, because this has been a massive grift by a few outspoken /r/wsb posters all along (who could possibly be Gamestop execs or board members or something??) and they're just going to be happy with the stock they bought thousands of shares of at $30 selling for $3k each and they'll be happy to list at $3k to make sure their sales process first before the unwashed masses of reddit who are listed at $3500


e: For what it's worth it's nearly impossible to follow any of the reasoning about any of this because they've built up a weird cultish thing of worshipping contextless stats, they (used to?) post "deep dives" where they would write 10k+ word manifestos about how random spikes, statistics, numbers, etc. all lead to this grand revelation that Gamestop shares were going to be worth millions, and if you ask for clarification about what any of it means you get accused of being a "mole" sent by Citadel and banned from the sub. So I don't know how accurate my depiction is but it's definitely along the lines they are thinking on

deep dish peat moss fucked around with this message at 01:32 on Jul 21, 2022

Popete
Oct 6, 2009

This will make sure you don't suggest to the KDz
That he should grow greens instead of crushing on MCs

Grimey Drawer
I'm no investor whizz but in the situation where Citadel was "forced" to buy stocks at millions of dollars per share would they not just go bankrupt and never purchase back the stocks?

Ryoga
Sep 10, 2003
Eternally Lost

Popete posted:

I'm no investor whizz but in the situation where Citadel was "forced" to buy stocks at millions of dollars per share would they not just go bankrupt and never purchase back the stocks?

In a just world someone would go to jail, but lol.

deep dish peat moss
Jul 27, 2006

Here is someone who believes that the Gamestop NFT Marketplace will soon be earning Gamestop millions of dollars per hour because things like real estate deeds and car titles are going to be sold on a failed video game retailer's NFT Marketplace for some reason.

deep dish peat moss fucked around with this message at 02:55 on Jul 21, 2022

SyntheticPolygon
Dec 20, 2013

Wow, 5 likes

Klyith
Aug 3, 2007

GBS Pledge Week

Popete posted:

I'm no investor whizz but in the situation where Citadel was "forced" to buy stocks at millions of dollars per share would they not just go bankrupt and never purchase back the stocks?

Yes. Which is exactly what happened to Melvin Capital, the hedge fund that had the biggest short position in Gamestop back in January 2021. Except they didn't just declare bankruptcy, and they didn't buy stocks from rubes for a million dollars per share. Instead they went to even bigger fish of wall street and did a deal.

Citadel "invested" $2 billion into Melvin. Invest means you're getting a portion of what you invest in.

Melvin Capital at the beginning of 2021 had ~$8 billion. They lost 50% of it during the short squeeze, effectively $4 billion. Where did that $4 billion go? To Citadel, and to other large investors. They settled up among themselves, unwound all the shares back through all the layers of shorts and options. Everybody got a little taste of that $4 billion. Because they're all big enough and have enough trade volume that they can do that sort of thing.


Why? Because they all know that Gamestop isn't worth the price it was trading for. But these mammoths can't dump shares to take profit -- the redditors don't have enough money to absorb a billion dollars in shares. This way they get paid without having to actually do anything. And they can slowly sell into the spike for more profit.

Why? Because it cuts out all the idiots demanding a million dollars per share. All the robinhood rubes are holding paper. They can demand the moon, but if someone with an equal number of shares says "eh I'll take $50/share to cover your short" then they don't get the moon, now do they?

This isn't a conspiracy, this is the prisoner's dilemma. The WSB idiots are saying "we will hold GME till we die or go to the moon". The big fish are saying "will defect for reasonable fees". If I defect and take a lower price and you don't, I make all the money and you get hosed. That's how the market works.

ultrafilter
Aug 23, 2007

It's okay if you have any questions.


Barudak
May 7, 2007

Square Enix using that Eidos sale money to invest in bitcoins, hoooray

cmdrk
Jun 10, 2013

deep dish peat moss posted:

Here is someone who believes that the Gamestop NFT Marketplace will soon be earning Gamestop millions of dollars per hour because things like real estate deeds and car titles are going to be sold on a failed video game retailer's NFT Marketplace for some reason.


hey at least the guy had a good username/post combo.

claw game handjob
Mar 27, 2007

pinch pinch scrape pinch
ow ow fuck it's caught
i'm bleeding
JESUS TURN IT OFF
WHY ARE YOU STILL SMILING

Barudak posted:

Square Enix using that Eidos sale money to invest in bitcoins, hoooray

hey so uhhhhh speaking of that company and NFT poo poo:

https://twitter.com/churroz/status/1549885670398627840

Barudak
May 7, 2007

secretly best girl posted:

hey so uhhhhh speaking of that company and NFT poo poo:

https://twitter.com/churroz/status/1549885670398627840

Ahahaha. Everyone kept saying their CEO just said that NFT/Crypto stuff for the investors. No way baby, time to run this into the ground.

Drakenel
Dec 2, 2008

The glow is a guide, my friend. Though it falls to you to avert catastrophe, you will never fight alone.
Investing in a company seemed like a good idea so long ago...

Now its basically chaining yourself to a bunch of lobotomized, screaming chimps with your money.

SettingSun
Aug 10, 2013

SE liquidating its developers was a good move since they were languishing under its thumb, and to say they did it solely to fund NFT pet projects is just people looking to pin blame on something.

That said, let them break themselves on NFTs. They’ll change their tune when they shove it into some game down the line and the playerbase riots.

MadHat
Mar 31, 2011
That is actually less stupid than normal as instead of pretending it is an actual thing they are just skipping right to what it actually is.

Still more stupid than an actual Certificate but at least it is not going that extra dumb leap of claiming the NTF has value itself I guess?

kirbysuperstar
Nov 11, 2012

Let the fools who stand before us be destroyed by the power you and I possess.

Drakenel posted:

Investing in a company seemed like a good idea so long ago...

Now its basically chaining yourself to a bunch of lobotomized, screaming chimps with your money.

It was literally always that way

claw game handjob
Mar 27, 2007

pinch pinch scrape pinch
ow ow fuck it's caught
i'm bleeding
JESUS TURN IT OFF
WHY ARE YOU STILL SMILING

MadHat posted:

That is actually less stupid than normal as instead of pretending it is an actual thing they are just skipping right to what it actually is.

Still more stupid than an actual Certificate but at least it is not going that extra dumb leap of claiming the NTF has value itself I guess?

So about that...

https://twitter.com/churroz/status/1549889215508275200

In case that's hard to parse: they are selling you the figure for one cost and it comes with an NFT "certificate of authenticity", and a more expensive version with a bonus NFT of the figure itself.

Ariong
Jun 25, 2012

Get bashed, platonist!

MadHat posted:

That is actually less stupid than normal as instead of pretending it is an actual thing they are just skipping right to what it actually is.

Still more stupid than an actual Certificate but at least it is not going that extra dumb leap of claiming the NTF has value itself I guess?

Yeah I don’t really have a problem with this I think. Most NFTs are glorified receipts, this NFT is just a receipt.

Ghostlight
Sep 25, 2009

maybe for one second you can pause; try to step into another person's perspective, and understand that a watermelon is cursing me



with the bonus that when they take down the servers you lose any ability to verify the authenticity immediately rather than when the paper it's on rots.

Drakenel
Dec 2, 2008

The glow is a guide, my friend. Though it falls to you to avert catastrophe, you will never fight alone.

kirbysuperstar posted:

It was literally always that way

let me have my delusions that things weren't always poo poo at all points, please.

DerekSmartymans
Feb 14, 2005

The
Copacetic
Ascetic

Barudak posted:

Square Enix using that Eidos sale money to invest in bitcoins, hoooray

Lara Grift

IShallRiseAgain
Sep 12, 2008

Well ain't that precious?

MadHat posted:

That is actually less stupid than normal as instead of pretending it is an actual thing they are just skipping right to what it actually is.

Still more stupid than an actual Certificate but at least it is not going that extra dumb leap of claiming the NTF has value itself I guess?

I just don't see what Square Enix gains from this, unless they are cheaping out on the quality of the figure and they expect people to buy it because it comes with a NFT.

Maybe they expect it will introduce people to the idea of NFTs and might be more willing to buy worthless JPGs if they buy a figure that includes one?

SettingSun
Aug 10, 2013

I have no idea what they get out of this. Do they have a stake in the NFT host Enjin? Do they have a plan if that company goes tits up? Do they make money on the resale of the NFT? So many questions.

Dark_Swordmaster
Oct 31, 2011
NFT's magically make money. Just by saying 'NFT' in an earnings call you will make $20,000. Personally. Just make sure you say 'NFT' to 5 coworkers and they to 5 other coworkers each.

Clarste
Apr 15, 2013

Just how many mistakes have you suffered on the way here?

An uncountable number, to be sure.
My guess is that they're dipping their toes in and seeing if NFTs make things sell better.

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SyntheticPolygon
Dec 20, 2013

They saw that Konami made some cash from an NFT sale so are adding NFTs to their merch store for a slice of that pie.

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