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mrmcd posted:Wasn't this a strategy in the old Daggerfall game from like 1995? They made a big deal about having a HUGE MAP and I vaguely remember one of the things you could do it travel to a backwater provence, take out a huge loan, and then gently caress off forever with the money. If you ever went back to that section of the map your creditors would send assassins to murder you but the map was so big you didn't have to. Yeah, High Rock has like 80 (e: 41 lol) provinces (e: maybe counties, since technically High Rock is a "province" itself) and only like 10 are involved in the story in any way. Each of them has entirely independent banks from the others. If you want to break the economy of the game you can go borrow a giant pile of money as soon as you leave the starting dungeon, then just never come back to the province you borrowed it from. Of course, if you just play the game normally you pretty quickly end up at the point where you can clear a dungeon over and over until your horse+cart are loaded down, then go sell it all at any old lovely pawn shop which mysteriously has the tens of thousands of gold everything is worth. Rinse and repeat and you can have a house + ship well before you're high enough level to actually beat the game. The second part is why TES games from Morrowind onward have a limited currency supply on each vendor - even if Almalexia's soul in the Star of Azura is "worth" 15 million gold or whatever you can't break the economy with it alone because no shopkeeper is capable of giving you more than 10k. Eletriarnation fucked around with this message at 23:48 on Jun 19, 2023 |
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Jun 14, 2023 18:25
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Phanatic posted:I always thought it was interesting that you don't need a license to fly an airplane (specifically ultralights, if you're wondering), but you do need one to fly a balloon. but, do you need a license to fly a lawn chair?  (this is Lawnchair Larry for the curious)
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Jun 14, 2023 21:19
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Haven't heard anything about NFTs in a while wonder what's happening? It seems they found a needlessly involved way to...give anonymous strangers money over the internet at usurious rates! https://twitter.com/cirrusnft/status/1669064880949985280
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Jun 15, 2023 01:17
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quote:If they default? The lender can use the NFTs to redeem the watches Uh… how exactly?
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Jun 15, 2023 01:29
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They'd simply exchange the tokens for something of equal value
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Jun 15, 2023 01:30
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Sounds like they would repo the watches but probably in reality you receive the appraised value? Dumb solution looking from a problem as always
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Jun 15, 2023 01:31
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Scratch Monkey posted:Uh… how exactly? the nft part is useless extra cruft the borrower gave their watches to a crypto-branded pawn broker named "4k protocol" in exchange for some money in their digital wallet. if they don't pay it back, someone else can pay the money to the pawn broker and get the watch. all of this could easily be done without nfts or cryptocurrency, and in fact is done all the time in the real world
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Jun 15, 2023 01:36
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I’ve never used a pawn broker, but I always thought you ate a substantial immediate loss by pawning something.
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Jun 15, 2023 02:01
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rjmccall posted:I’ve never used a pawn broker, but I always thought you ate a substantial immediate loss by pawning something. You do. They basically give you 15% of the item's value in cash and they either keep the item if you don't pay them back or you come back and pay whatever you borrowed + interest within 30 days.
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Jun 15, 2023 02:08
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rjmccall posted:I’ve never used a pawn broker, but I always thought you ate a substantial immediate loss by pawning something. AIUI you have a certain number of weeks to either buy it back with X% interest or pay the interest and extend the loan some extra number of weeks. Otherwise your collateral is forfeit and they put it out for sale. But the loan value offered is always gonna be substantially lower than what the shop owner thinks they can resell it for because unsurprisingly a huge number of people don't come back to repay the loan, and they have a whole bunch of operating costs for running the shop plus a desire for a predatory profit margin. On the other side, people who want to sell valuable second hand items and don't have extremely urgent short term cash flow problems with zero available credit generally don't use pawn shops.
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Jun 15, 2023 02:13
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Guest2553 posted:Haven't heard anything about NFTs in a while wonder what's happening? There’s always more and it’s always stupider
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Jun 15, 2023 02:19
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Guest2553 posted:Haven't heard anything about NFTs in a while wonder what's happening? That's pawning. He pawned them.
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Jun 15, 2023 04:11
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"look at this purely on chain transaction, which necessitates a physical escrow" lmao
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Jun 15, 2023 04:12
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It's like a pawn shop in every meaningful way, but even dumber. I'm impressed.
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Jun 15, 2023 04:58
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mrmcd posted:AIUI you have a certain number of weeks to either buy it back with X% interest or pay the interest and extend the loan some extra number of weeks. Otherwise your collateral is forfeit and they put it out for sale. If you are shopping, pawn shops often have some really good deals on tools and musical instruments. You just have to push past the aura of tragedy behind every item on the shelf.
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Jun 15, 2023 05:01
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You used to be able to get some ripping deals on vintage audio gear as well but those days are mostly behind us.
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Jun 15, 2023 05:33
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Guest2553 posted:Haven't heard anything about NFTs in a while wonder what's happening? Back in 18th century Denmark, the government ran a public pawn shop called "Assistenshuset" (The House of Assistance), officially as a public service to the poor, but they paid so little that profit margins were enormous. To protect this racket, the state granted itself a monopoly on offering loans based on personal property as collateral. However, the loans paid were such a small percentage of the value of the items that a thriving industry of private pawn shops arose, allowing people to pawn their Assistenshus receipts for more money - the monopoly law did not prohibit using receipts as collateral. For example, say you pawn a ten-dollar item and receive three dollars in return. Now you have a receipt allowing you to redeem a ten-dollar item for three-dollars, giving the receipt a theoretical value of seven dollars. You then pawn that at a private pawn shop for another three dollars. If you don't pay back that loan, the private pawn shop redeems the original item for three dollars, making a net profit of four dollars. As a matter of fact, Niels Heidenreich, the man who stole the famous Golden Horns of Gallehus started his criminal career by counterfeiting Assistenshus receipts. The penalty for counterfeiting legal tender was death, but the state did not give a poo poo if someone made fake receipts to scam private pawn shops evading the state monopoly. Anyway, the moral of this story is that none of this required NFTs.
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Jun 15, 2023 09:17
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Miami's "Bitcoin Mayor" is running for President on a cryptocurrency platform.quote:During the coronavirus pandemic, Miami – also called "Magic City – drew an exodus of tech workers from Silicon Valley and New York. Several crypto firms relocated there permanently. quote:During my campaign, I will be highlighting Bitcoin's democratizing impact on the future of wealth for every American. quote:His platform will highlight his focus on cryptocurrency as Mayor. He has examined ways to accept taxes and pay municipal employees in the currency. He also announced MiamiCoin (MIA), built on the Bitcoin adjacent blockchain, Stacks, which he hoped could someday pay a recurring BTC stimulus to Miami citizens. quote:By 2022, MIA had shed roughly 95% of its value from an all-time high of around 5 cents eight months earlier, according to data from CoinMarketCap. In March, crypto exchange OKCoin suspended the trading of MIA – and a second city coin, NYCCoin – citing limited liquidity as the reason for the decision. https://twitter.com/kaitlancollins/status/1669093253629485061 https://twitter.com/FrancisSuarez/status/1669319236949352453
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Jun 15, 2023 14:44
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Leon Trotsky 2012 posted:Miami's "Bitcoin Mayor" is running for President on a cryptocurrency platform. interesting that he is asking people to donate in United States currency
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Jun 15, 2023 14:51
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Bitcoiners will be a delightful new addition to the gop primary.
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Jun 15, 2023 14:54
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There is no way this guy is serious about running and has created a blatant cash grab that will mysteriously disappear in a rugpull of some kind, as is tradition with butts.
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Jun 15, 2023 15:14
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Cacafuego posted:There is no way this guy is serious about running and has created a blatant cash grab that will mysteriously disappear in a rugpull of some kind, as is tradition with butts. Creating a new channel through which crypto types can hand him
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Jun 15, 2023 15:20
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Potato Salad posted:"look at this purely on chain transaction, which necessitates a physical escrow" lmao "It's an NFT" "How do you know the two actual physical watches are in the possession of the person the NFT says they are?" "It's an NFT" "What is the mechanism that ties the NFT to two actual physical watches?" "It's an NFT" "How do you know the person minting the NFT didn't just lie?" "It's an NFT" I stopped writing here because I was going for humorous exaggeration but realised this is literally how such a conversation would go.
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Jun 15, 2023 15:23
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I suppose it could go either way: Accidentally bought a cemetery, now what? quote:After review my attorney does confirm we own it. Statement I never imagined saying, "We own a cemetery."
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Jun 15, 2023 15:45
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Owning a cemetery seems pretty GWM - I mean, people are literally dying to get in!
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Jun 15, 2023 15:50
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Depending on where he is that could actually be a windfall. I'd be willing to bet he could find an existing cemetery to sell that lot off to as a remote location. Might not make a ton off it, but easier to deal with that than leaving it to rot (hah) or trying to figure out how to de-cemetery it for other use.
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Jun 15, 2023 15:56
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That’s the fourth Republican running for president living in Florida that I’ve heard about, dang.
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Jun 15, 2023 15:57
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Folks will do anything to get out of that state I suppose
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Jun 15, 2023 18:00
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LanceHunter posted:If you are shopping, pawn shops often have some really good deals on tools and musical instruments. You just have to push past the aura of tragedy behind every item on the shelf. My experience has been that they're cheap lovely tools, and cheap lovely musical instruments. Only thing I've found worthwhile in pawn shops is guns. Cyrano4747 posted:Depending on where he is that could actually be a windfall. I'd be willing to bet he could find an existing cemetery to sell that lot off to as a remote location. Might not make a ton off it, but easier to deal with that than leaving it to rot (hah) or trying to figure out how to de-cemetery it for other use. Or you can do what Greenlawn Cemetery did with their Oddfellows section and just kinda ignore it, bulldoze the markers to the edge of the lot, and grow flowers on top: https://oddfellowscemeterycolma.org/odd-fellows-cemetery-colma/
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Jun 15, 2023 19:04
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I got a pretty fancy midi controller & sequencer from a pawnshop for a ridiculously low price this year.
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Jun 15, 2023 19:13
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I remember a movie where they built a bunch of houses on an old cemetery, but I can't remember the outcome. I'm sure it was fine.
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Jun 15, 2023 19:24
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Cerekk posted:interesting that he is asking people to donate in United States currency Using blockchain currency to track political donations/bribes might be the only good use for it.
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Jun 15, 2023 20:00
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Guest2553 posted:Haven't heard anything about NFTs in a while wonder what's happening? https://twitter.com/furiousanger/status/1669078916219260929 lmao
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Jun 15, 2023 20:35
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Dr. Eldarion posted:Using blockchain currency to track political donations/bribes might be the only good use for it. My industry came up with a good use for a blockchain: verifying the authenticity of pharmaceuticals. The whole chain from manufacturing to patient can be verified at any point. And yes, counterfeit and improperly shipped medicine was enough of a problem that it was worth creating an industry-wide solution. The cold-chain data being available is of particular interest to me, my very first validated project in Pharma involved cell culture shipments that had to be kept to under -160C and us being able to prove to the FDA that they were, so there's some regulatory value to this as well. https://www.ibm.com/blockchain/resources/transparent-supply/pharma/
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Jun 15, 2023 20:39
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thats a db. thats a solution for a db
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Jun 15, 2023 20:41
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Yeah there's a billion pre-crypto authentication solutions in existence within the medical and pharmaceutical industries already aren't there? Sounds like they were being implemented sloppily if there are industry wide concerns No way they decided to finally tackle/fix this problem in 2022
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Jun 15, 2023 20:43
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IBM has been trying to push blockchain for supply chain for at least a half-decade now, and none of their projects have resulted in anything more than glorified tech demos. The problem is that there is no advantage to using the blockchain system over just having a QR code on the box that reports back to the manufacturers DB when scanned. The fact that IBM’s blockchain department still exists is proof that sometimes little idiosyncratic departments can live on in a giant company purely through old hype inertia.
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Jun 15, 2023 20:45
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When IBM or Accenture touch something, run.
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Jun 15, 2023 20:47
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Yeah Accenture is absolutely hosed, I'll leave it at that
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Jun 15, 2023 20:47
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mllaneza posted:My industry came up with a good use for a blockchain: verifying the authenticity of pharmaceuticals. The whole chain from manufacturing to patient can be verified at any point. And yes, counterfeit and improperly shipped medicine was enough of a problem that it was worth creating an industry-wide solution. The cold-chain data being available is of particular interest to me, my very first validated project in Pharma involved cell culture shipments that had to be kept to under -160C and us being able to prove to the FDA that they were, so there's some regulatory value to this as well. this is solving the wrong problem; you can shove bullshit data into a ~*bLoCkChAiN*~ as readily as you can a database.
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Jun 15, 2023 20:48
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