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Blotto_Otter posted:I'm not a securities lawyer, but if they're concerned about their stablecoins getting classified as securities, I don't know how adding a wider variety of "assets" as backing for your that's the whole crypto game, pretending their new thing is sufficiently new and different from the old thing, and therefore no rules apply and the grift can continue
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Mar 26, 2023 18:55
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What stops the three card monty dealer from swapping the ball to another cup? Yes, part of the joke is that the ball doesn't matter in the first place
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Mar 26, 2023 18:58
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lets take a look a nuon, which claims to be the first flatcoin: an inflation proof asset certainly sounds like a security  oh boy, a crypto project that is overcollateralized, "audited", "insured", and "decentralized" (so no KYC/AML) certainly will run into no problems  flawless legal and economic reasoning here  how exactly will it track inflation? they've invented a magic computer program that always knows the "unbiased" inflation rate, and then *hand waves*, inflation protection
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Mar 26, 2023 19:09
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Between these new flatcoins and the thread about the prescription flat-dick treatment, GBS is truly on the cutting edge of technology
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Mar 26, 2023 19:13
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it's all a bunch of gaga. Buttcoin.
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Mar 26, 2023 19:16
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lol, and heres a thread on another inflation proof flatcoin: https://twitter.com/ShivanshuMadan/status/1515550610262663170 summary of how it works: simple, they just invest their assets at a rate of return higher than inflation! if that sounds impossible to maintain indefinitely, dont worry, theyve got a second plan - if there is a shortfall they can just issue more so, its basically terra-luna, but with the added hurdle of needing to provide an inflation adjusted return to their flatcoin holders
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Mar 26, 2023 19:30
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This is good for bitcoin.
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Mar 26, 2023 19:32
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Lazyfire posted:It looks like the next step a few different crypto exchanges are about to take is creating "flatcoins" in response to some stablecoins getting tagged as securities. I was really confused as to what the gently caress a Flatcoin was, but it just turns out that it's just the Libra model of cryptocurrency. If you don't remember Libra; it was Facebook's attempt to get into crypto by creating a token backed by a "basket of currencies" that was to be heavily tilted to the USD. Divabot wrote a book about it that explained the pitfalls and leaps in logic needed to make it seem like it was viable and concluded it was likely Facebook was more interested in scooping up even more data about its users than any utility Libra would provide to the customer. Now that both Web3 and AI fads have died within the crypto business sphere it looks like we're going to get hit with a wave of poo poo about the utility of Flatcoins. I'd never heard of them before your post, but "flatcoins" have apparently been around since early 2022, before the crash. I can't find any recent coverage of them except Nuon's press release that their coin nobody cares about is going live - what did you see?
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Mar 26, 2023 19:36
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drk posted:lets take a look a nuon, which claims to be the first flatcoin:
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Mar 26, 2023 19:46
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drk posted:lets take a look a nuon If you deliberately mispronounced it then it would sound like none. Which is what is an accurate measure of its substance. Even the names are lazy.
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Mar 26, 2023 20:05
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drk posted:lets take a look a nuon, which claims to be the first flatcoin: out of all the poorly-explained bullshit behind this, the bullshit about "overcollateralization" might be what I'm most perplexed by. "don't worry, this inflation-adjusted magic bean will somehow always be overcollateralized by different, highly-volatile magic beans that are not inflation-adjusted." Why should magic bean-holders ever be willing to lock up X value of magic beans in return for different, derivative magic beans worth less than X? What happens if the value of the collateral suddenly falls? Has a magic algorithmic auto-collateralized shitcoin ever not imploded dramatically at some point? Why am I still bothering with these questions when the people running these scams clearly don't give a poo poo anymore?
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Mar 26, 2023 20:42
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You all like scams? here's a nuon for you.
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Mar 26, 2023 20:50
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i can already print the future headline "nuon flatcoin drained of all its monies because truflation oracle takes 10 seconds to update so when one of these shitcoins spikes or drops smarter people take actions on them"
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Mar 26, 2023 20:51
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will it make me rich if I buy and hodl? If so, I'll take 100, pls
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Mar 26, 2023 20:53
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drk posted:lol, and heres a thread on another inflation proof flatcoin: Surprised they didn't have the balls to claim this as a feature: "and don't worry, FPIS holders are incentivised to make investments that beat inflation because otherwise their share of future profits are diluted!"
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Mar 26, 2023 21:35
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Another banger video from Dan Olsen, this one about the "Metaverse".
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Mar 27, 2023 01:24
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ladies, the crypto bros have solved online harassment with a magic spell of illusions https://twitter.com/Choice_au/status/1640134359792623616 the authors of the paper that terrible diagram came from also reinvented MMO instancing for when you want to buy underwear in the metaverse
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Mar 27, 2023 01:29
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drk posted:lol, and heres a thread on another inflation proof flatcoin: This is amazing. "We simply invest in assets that increase in value more than inflation. What if they don't? No worries, we just use the money from when they did! Or we just ask people for more money!" Mindblowing stuff
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Mar 27, 2023 01:29
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watched this when he was still previewing it for patreons. really good effort although i think a lot of the metaverse stuff has been in decline every since meta had to write off their AI plans by laying off a ton of employees. there's an SA shoutout (in which dan calls some guy's diatribe straight out of a SA post circa 2008)
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Mar 27, 2023 01:37
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drk posted:ladies, the crypto bros have solved online harassment with a magic spell of illusions "All the best security solutions tolerate a 15-20% failure rate" e: lol what is this poo poo. ignoring that lockpicking lwayer does infact break poo poo in one try or so, a 20ish% failure rate isnt something no one would tolerate for a product. even in some niche things also again why would I want to shop a VR space simulating a shop, when I can do a webapge and do shopping faster? e:and unless a troll discovering my shadow clone pops out a log, this is a poo poo idea. also shadow clones should also be like mimics, or even really really cruel kaizo mimics. PhazonLink fucked around with this message at 01:53 on Mar 27, 2023 |
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Mar 27, 2023 01:43
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among the myriad reasons the metaverse is loving stupid: if i am being harassed in the metaverse and tech exists to deploy ai clones like chaff every harasser is going to use similar tech to gently caress with people on massive scales
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Mar 27, 2023 01:52
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Illuminti posted:This is amazing. Wasn't SVB asking for money because their assets weren't increasing in value more than inflation what caused Peter Thiel to learn that banks don't hold every single dollar in liquid assets and tell all his friends to run the bank?
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Mar 27, 2023 01:55
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divabot posted:I'd never heard of them before your post, but "flatcoins" have apparently been around since early 2022, before the crash. I can't find any recent coverage of them except Nuon's press release that their coin nobody cares about is going live - what did you see? I didn't know they were a thing until the regular accounts like bitfinexed and such started posting about them this morning. I thought Libra dying ended this idea.
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Mar 27, 2023 02:14
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Isn't the metaverse just an MMO but with vr Because all they seem to be doing is reinventing MMO concepts or doing a laborious end run around them for no particular reason.
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Mar 27, 2023 03:18
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SettingSun posted:Isn't the metaverse just an MMO but with vr The metaverse is "what if we re-invented the Internet, only this time absolutely nothing was free?"
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Mar 27, 2023 03:22
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Thesaurus posted:Completely tangential, but fwiw to was looking into this out if curiosity and it's part true. The volunteer died, but years before the program closed. https://www.nbcnews.com/id/wbna22163602 Makes sense. Nothing happens fast in the pc (we take pcv safety very seriously lol) and there's a two year lead time to close a program and not cut people's service short. I never googled it and was working off what a guy told me who was trying to gently caress a girl I was really into. Our group of like 33 had a couple big assaults, a bad dog attack and one suicide (didn't count though since she had been home for two days)
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Mar 27, 2023 04:10
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istewart posted:Between these new flatcoins and the thread about the prescription flat-dick treatment, GBS is truly on the cutting edge of technology the what now
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Mar 27, 2023 04:18
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The clone stuff is so stupid. It’s all loving virtual, you should easily be able to just delete the harasser from your view of the virtual world like, ignore functions have existed since the first ever usenet news reader
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Mar 27, 2023 04:23
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sir that would be an attack on free speech
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Mar 27, 2023 04:31
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Cyrano4747 posted:The metaverse is "what if we re-invented the Internet, only this time absolutely nothing was free?" a recent Zuck and Meta article said that the meta zucks matrix is probably about leveling Zuck himself up. So thats why all this meta poo poo sucks poo poo
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Mar 27, 2023 05:25
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Cyrano4747 posted:The metaverse is "what if we re-invented the Internet, only this time absolutely nothing was free?" This sums up every problem with Crypto.. Where every goal to introduce costs is literally called innovation. Followed by : inflation is bad and things cost too much! Without realizing crypto is already causing inflation.
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Mar 27, 2023 05:51
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Meanwhile, over in the games biz... https://twitter.com/kelslewin/status/1639377317188481024 https://twitter.com/itstheshadsy/status/1639503585699598336
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Mar 27, 2023 06:30
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The Kins posted:Meanwhile, over in the games biz... With any luck we'll have the same two pictures next year but blockchain replaced by AI
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Mar 27, 2023 06:31
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drk posted:ladies, the crypto bros have solved online harassment with a magic spell of illusions
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Mar 27, 2023 06:39
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I haven't been keeping up--how did bitcoin jump back up to over $25,000?
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Mar 27, 2023 06:49
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Star Man posted:I haven't been keeping up--how did bitcoin jump back up to over $25,000? they ran with the narrative that the svc bank run is a great time to hedge with bitcoin because if somehow the entire banking system collapses... somehow bitcoin survives and becomes the new money? no comment yet on whether the US government would continue to exist.
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Mar 27, 2023 07:06
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New Dan Olson doc dropped: https://www.youtube.com/watch?v=EiZhdpLXZ8Q
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Mar 27, 2023 07:13
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Mar 27, 2023 08:26
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Lol, 'Ladies, are you being harassed online? Why not simply cast Mirror Image!'
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Mar 27, 2023 09:03
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It's also kind of weird that blocking a dude from harrasing is apparently out of the question, but tricking him into harrasing ai copies of his target is ok. Or rather, it's ok in theory for now because it hasn't happened to one of them yet.
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Mar 27, 2023 10:27
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