Salt Fish posted:

https://twitter.com/web3isgreat/status/1611513431902806022

notwithoutmyanus posted:

notwithoutmyanus posted:

So I have a two-parter back from my days of poop-touching. Memoirs of a poo: rugging boogaloo. Part one: the Poopenstances. The second part happened yesterday, which is while I'm posting the first as it's fresh in my brain. This should be some good entertainment for people who hate crypto.

Back when I was involved in crypto projects for whatever dumb reasons , I was trying to help a project figure out how to not accidentally screw themselves/their potential investors using basic math(read: improbable without making things unfun/not offering YOLO APY % for interest rates on tokens , but that's not my problem). Yes, these people do not even do basic math or research.

When I modeled out even the most basic of economic concepts, everything showed that they were high on their own supply and that their users who they wanted to entice, would drag down the token. Mind you, you can't just give people 10x their initial investment in the course of a month and not expect people to dump the ever-loving hell out of the same token. I am also not a crypto programmer nor do I desire to be, although I'm moving along in studying rust for my own sake. The reason I mention this is in the course of starting the project out, we were headhunting for tech talent and other needed roles. Community manager is a common one for crypto projects as well, which consists of "be horribly underpaid and basically try to herd cats in a lovely community". This will be relevant in a moment.

In this process, there was a person who came along, who was a webdev. basically a equivalent. This person said he can set up the website, code the smart contracts (Crypto functional code) for the project tokens and their mechanics, etc. Notably he was a PHP programmer. All the basic crypto shiny tech needed to kickstart the project. This guy was very brazen in his speech, talked a big talk, tried to basically snow everyone and get them involved on his own little side projects. Quasi-cryptobro speech out of a dude with an Indian accent which was apparent on the voice calls, I think he said he was from hyderabad or something I don't remember. He begged me to join his discord...which had 4 people in it. Said so I can help grow his Veryimportant budding community. He needed "my" help to gain legitimacy, and I left his discord about 30 seconds later. Again, I reiterate - he had a very combative personality and was not really a good team player - similar to the Seraph model of "I'm better than you and smug and PS, gently caress you" model of blatant narcissism (). All the way down to the begging for help when it suits him and alternatively pushing his ego when it suits him. Grifting all the way down. On said project was a "friend" I made along the way from another crypto project called Jade Token (that one effectively died off). Guy had a decent tech background, was a decent person, good debates, etc. So when this new project rolled around, I was invited and brought this "friend" with. said friend will be relevant later, we can call him Jade Friend Crypto (JFC), as a community manager.

This webdev's background (and focus thereof) was in other tokens that he had built up, he showed us some examples of other smart contracts he had done. To the best of my knowledge these were things I couldn't quantify. How do I know how a smart contract works? I don't. I can read some of the code because I know a some aspects of code, but not enough to know BS from reality here. I'm not about to dedicate development cycles to learning solidity. So they tried to engage this webdev to build out their website and frontend, etc. Basically: deploy a test site in netlify and so on. Meanwhile, the dude had a total shitfit about work scope. Arguing every detail until it is specific to people who are not technical enough to answer his questions, anyway. I talked to him on the side as he did have an a tech background. He was, however, basically copying website code from one site to another, blatant copyright infringement on top, and so on. Turns out, he starts begging (as mentioned) - begging for money, oh so desperate, tough times, no money, divorce, kids etc. Sob story that nobody can confirm anyway. There were very, very odd and suspicious dodges of confirming any facts around his personal situation.

In the end, we kicked him off the project because nobody could work with him, and that was before we paid him anything. In his mind though, we "stole" from him. This was discussed with me and JFC among others, JFC being a super quirky cybersec guy who pointed out the insane levels of risk bringing on someone we don't even know if we can trust who asked for unfettered access to everything he does. So in the meantime, the webdev dude starts his own project after we kick him off the project. Crypto is a small community where everyone talks to everyone/word spreads quickly, so we had updates on his other project. He proceeds to rug(steal) () from the people he got involved in the new project webdev created. I think he made off with 30-100k in cash. Proceeds to say it was a mistake, he was "hacked" and it'll never happen again. Then, he creates another project, rugs it, and then disappears. End discord username, literally deleted and all, and ghosts away.

In case it doesn't need to be said, yes this was (and is) a shitcoin. The disappeared man returned under a new username but "knew nothing about" (old projects and profile), which is the part 2 I will address later.

Papa Was A Video Toaster posted:

and this is why we say to not touch poop.
you conveniently leave out your motivations for touching the poop. I assume you thought you'd be the one pulling the rug?

Rectal Death Adept posted:

you thinking bitcoin technical analysis is real definitely makes a lot more sense now

notwithoutmyanus posted:

No. I have a decade of looking at charts and reports, from IT work as a network engineer/monitoring engineer and so on. It's not all that weird to look at charts and trends for any other asset classes, but it's not like technical analysis is anything but hated by most people anyway. Not everyone does some ghostty garbage, and it's not going to magically make fortunes. In the end, it's about 90% math applied to statistical data. If you don't like technical analysis then I bet you really don't like when people apply moving averages to covid statistics, either.

notwithoutmyanus posted:

Hmm? No, I wanted to help develop a project in the naive theory it would work out. Why would it be assumed I wanted to rug?

No. I have a decade of looking at charts and reports, from IT work as a network engineer/monitoring engineer and so on. It's not all that weird to look at charts and trends for any other asset classes, but it's not like technical analysis is anything but hated by most people anyway. Not everyone does some ghostty garbage, and it's not going to magically make fortunes. In the end, it's about 90% math applied to statistical data. If you don't like technical analysis then I bet you really don't like when people apply moving averages to covid statistics, either.

notwithoutmyanus posted:

No. I have a decade of looking at charts and reports, from IT work as a network engineer/monitoring engineer and so on. It's not all that weird to look at charts and trends for any other asset classes, but it's not like technical analysis is anything but hated by most people anyway. Not everyone does some ghostty garbage, and it's not going to magically make fortunes. In the end, it's about 90% math applied to statistical data. If you don't like technical analysis then I bet you really don't like when people apply moving averages to covid statistics, either.

EoinCannon posted:

The thread seems a bit harsh on NWMA considering they have an interesting viewpoint as a former crypto believer turned sceptic

notwithoutmyanus posted:

Honestly? Put that poo poo 100% into nexo (stablecoins) make 8%/yr, live off 5-7% (of the 8) plus a job, always let that 1 compound and NEVER TOUCH THE PRINCIPAL EVER. Congrats, you win, the aristocrats. Do what you want in life but follow the caps rule.

5%is another 50k/yr at 0 risk minus some tax at 1m. On top of a 70k+/yr job, that's plenty to last you a long time and get ahead more quickly.

Do not look into million dollars of homes when there's plenty of options for a 300k home (such as in other states) that you could arguably pay off in 3-5 years with actual patience due to your lack of debt.

(USER WAS PUT ON PROBATION FOR THIS POST)

Chromatics posted:

They're an idiot and just last year recommended a goon to put 80% of their net worth onto a shady exchange to yield farm those sweet 8% returns

Chromatics posted:

They're an idiot and just last year recommended a goon to put 80% of their net worth onto a shady exchange to yield farm those sweet 8% returns

Crypto chaos: how Crawley crumbled under owners’ reckless leadership posted:

The word “shambles” comes up a lot when you ask people about Crawley Town. They sit 20th in League Two, are looking for their third permanent manager of the season after Matthew Etherington’s exit following 32 days in charge and have cast aside three of their senior players.

When Wagmi United, a cryptocurrency sports company, bought the club in April its co-founder, Preston Johnson, said: “We think the club can do better and our fans deserve better.”

They finished in 12th last season, so clearly Wagmi United’s plans are not working out.

...

Johnson discussed how Etherington was a good fit with Wagmi because of his “appetite for risk” that he rather crassly associated with the former Stoke winger’s historic gambling problems. Etherington was then deemed too much of a risk and sacked after only three games in charge.

...

Recruitment also took a strange turn when the club announced it would scout a celebrity match taking place at the Valley, home of League One Charlton. Three YouTubers from Sidemen FC, who have a partnership with Wagmi, were granted trials at the club. “All three players will be further evaluated by coaches and staff during the session for possible inclusion in the team for the Red Devils’ upcoming FA Cup match against Accrington Stanley on 5 November,” Crawley said. None of them were signed.

...

Etherington was replaced by the caretaker Darren Byfield, who was joined in the dugout for the away defeat to Stevenage by the co-chairman Johnson. The opposition match announcer tweeted: “Tonight’s highlight was Johnson asking the fourth official at half-time how subs work. Whilst sat on the bench. Good luck, Crawley fans.” Johnson did not attend the next match at Newport.

The club’s supporters’ association has requested a meeting with the owners but Johnson replied in a statement that they cannot do so immediately while the club go through the process of “getting to the bottom of sensitive legal issues”. “A conventional approach to ownership hasn’t worked,” it was announced when Wagmi bought the club. An unconventional approach is not working either.

Dabir posted:

Self-described crypto bros bought a football club that's been around since 1896 and they've been running it into the ground hard.

Lord Stimperor posted:

we couldn't fathom why there was so much frantic activity in that space

divabot posted:

also, transferring "you can chart things" to "i can get useful information from charts of a number that is thoroughly manipulated by malign actors"

evilweasel posted:

this is actually not a good argument

technical analysis is utter bullshit for a variety of reasons, but largely that it is chaotic behavior from the unpredictable interaction of countless numbers of people, with significant amounts of randomness added, and the "patterns" used are utter nonsense that work only in hindsight

if the number was thoroughly manipulated it is entirely possible you could do analysis on the number because you are looking at the actions of a small, discrete number of bad actors and trying to predict their next bad act, which is significantly less insane than trying to predict the movements of an entire market based on squiggles that the best-case scenario for the information being useful is "a random walk around the market's true analysis of inherent value"

Lord Stimperor posted:

I was also peripherally involved in a crypto thing. For about a year, a couple of other dorks and I would meet weekly to discuss new projects on the crypto forums and to come up with a use case for smart contracts that we could maybe make something out of.

We couldn't find a single project that wasn't in some sense implausible or nonsensical. We couldn't define a single use case that overcame fundamental problems with crypto, or wouldn't be better served with a database. It is really, really hard to find a good reason for anything crypto.

We held out so long because we couldn't fathom why there was so much frantic activity in that space. We thought people must be explaining it wrong, because what we understood sounded completely stupid. I have since then lowered my expectations dramatically.

tango alpha delta posted:

buttcoin

my custom title is brought to you by seraph84.

ellie the beep posted:

so i have to ask:

ellie the beep posted:

so at first i was annoyed at how much you post that, but then i was like, do they really? maybe it just feels that way because i dislike it, and so it stands out more to me

so i went looking backwards through your post history in this thread and because i dont understand how to make a computer do things for me i started counting on my fingers and in the past forty posts youve specifically mentioned that seraph bought that for you six times

so i went back a page and tallied again, skimming and counting and thought to myself thats odd, yet again there are six seraph bought this title for you mentions, what a coincidence !

so i went back forty posts yet further and would not you know it, seraph is credited for the purchase of your title six times exactly

so you can understand my surprise on discovering that not in the further two pages checked is a single mention!

so then i click previous page once more and finally i have dug far back enough to find the post where you remark on it having been initially purchased, and that made me even MORE curious, because that means the timeline went that seraph bought you the ad and you acknowledge it once, then an ENTIRE YEAR passes, and then fully fifteen percent of your post history is telling people that seraph bought you that av

ellie the beep posted:

so then i click previous page once more and finally i have dug far back enough to find the post where you remark on it having been initially purchased, and that made me even MORE curious, because that means the timeline went that seraph bought you the ad and you acknowledge it once, then an ENTIRE YEAR passes, and then fully fifteen percent of your post history is telling people that seraph bought you that av

so i have to ask: what the gently caress is your deal?

ellie the beep posted:

so at first i was annoyed at how much you post that, but then i was like, do they really? maybe it just feels that way because i dislike it, and so it stands out more to me

so i went looking backwards through your post history in this thread and because i dont understand how to make a computer do things for me i started counting on my fingers and in the past forty posts youve specifically mentioned that seraph bought that for you six times

so i went back a page and tallied again, skimming and counting and thought to myself thats odd, yet again there are six seraph bought this title for you mentions, what a coincidence !

so i went back forty posts yet further and would not you know it, seraph is credited for the purchase of your title six times exactly

so you can understand my surprise on discovering that not in the further two pages checked is a single mention!

so then i click previous page once more and finally i have dug far back enough to find the post where you remark on it having been initially purchased, and that made me even MORE curious, because that means the timeline went that seraph bought you the ad and you acknowledge it once, then an ENTIRE YEAR passes, and then fully fifteen percent of your post history is telling people that seraph bought you that av

so i have to ask: what the gently caress is your deal?

coolusername posted:

Adjacent to Bitcoin but the same narrative patterns of “hodl” and warriors against the establishment/feds and we’re early etc. are found in the bed bath and beyond sub - a bunch of people super-invested in the secret potential of BBBY stocks to shoot up to unfathomable wealth if you get in early enough due to its secret values - and they are going batshit over the news the company is contemplating bankruptcy in a very familiar way.



There’s rainbow charts, FUD, hodl, not financial advice, buy the dip, copium and hopium, etc.

How many of these communities of “investors” are out there pouring life savings into memecoins and memestocks, all sharing the same lingo? There’s even highly downvoted comments saying this is just what happened before Celsius collapsed.

Purplebeard posted:

This is the good kind of TA.

ellie the beep posted:

so at first i was annoyed at how much you post that, but then i was like, do they really? maybe it just feels that way because i dislike it, and so it stands out more to me

so i went looking backwards through your post history in this thread and because i dont understand how to make a computer do things for me i started counting on my fingers and in the past forty posts youve specifically mentioned that seraph bought that for you six times

so i went back a page and tallied again, skimming and counting and thought to myself thats odd, yet again there are six seraph bought this title for you mentions, what a coincidence !

so i went back forty posts yet further and would not you know it, seraph is credited for the purchase of your title six times exactly

so you can understand my surprise on discovering that not in the further two pages checked is a single mention!

so then i click previous page once more and finally i have dug far back enough to find the post where you remark on it having been initially purchased, and that made me even MORE curious, because that means the timeline went that seraph bought you the ad and you acknowledge it once, then an ENTIRE YEAR passes, and then fully fifteen percent of your post history is telling people that seraph bought you that av

so i have to ask: what the gently caress is your deal?

Thesaurus posted:

I love the premises here. why would the company lie about being bankrupt if they're actually successful? Why do they believe BBY is a good investment and going places? Why would believing in the success of a department store make them heroes? Why would someone be mad about them buying and holding company stock?

I assume the answer to all of these questions is "to lure in some more bag holders", but a lot of these psychos probably believe their own hype and it boggles the mind

quote:

Could interested retail investors buy 75%-100% of the float, and then spokespersons would participate in negotiating the restructuring and the sale of certain assets to create a more profitable company? It is actually both mathematically and practically feasible…..

​

https://i.redd.it/erifrthdloaa1.gif

Simplified, round numbers to demonstrate what it would take to buy the entire float:

Assuming retail investors already own 50% of the float:

• 40,000,000 Float / 100,000 investors = $400 each
• 40,000,000 Float / 50,000 investors = $800 each
• 40,000,000 Float / 25,000 investors = $1,600 each
• 40,000,000 Float / 12,500 investors = $3,200 each

​

Assuming retail investors own 0% of the float (we all know retail already owns a LARGE portion of the shares, so the numbers above are likely more accurate)

• 80,000,000 Float / 100,000 investors = $800 each
• 80,000,000 Float / 50,000 investors = $1,600 each
• 80,000,000 Float / 25,000 investors = $3,200 each
• 80,000,000 Float / 12,500 investors = $6,400 each

​

​

https://preview.redd.it/z2x0btfhooaa1.jpg?width=868&format=pjpg&auto=webp&s=0cf42764e020d10eba93b0df7bf9bb53e3ef172c

​

*NOT FINANCIAL ADVICE OR INVESTMENT ADVICE*

quote:

You are forgetting the millions of shares already owned by retail in the calculation. Discord has what, 600 users, and owns ~ 1m alone.

quote:

There are 40,000 people on reddit. Estimate the average holdings as you will.

1,000 shares each (a $1,300 investment) = 35% of the company

2,000 shares each (a $2,600 investment) = 70% of the company

Need I go on?

quote:

you do know the general public think this company is dog poo poo; the company literally just announced “we are hosed”. Cohen sold at the top….i can go on and on

quote:

This is a flat out case of hedgies and shills being caught with their hand in the cookie jar. No other reason they should be this concerned with our investment.

quote:

The fact that you’re specifically trying to derail us means I’ll be buying more on Monday. When shills are scared… I’m greedy!

quote:

Don’t forget that you can always buy more. You literally can’t have enough. Every share you buy now will make you that much richer in the future. It’s hilarious how shills don’t realize this. It’s plain as day.

Hedgies are fuk.