omfg… etherium was created as a cope for a world of warcraft nerf?? im losing my fucking mind. imagine being so mad you… what the fuck https://about.me/vitalik_buterin
The "About Me" section that he quotes is this:
I was born in 1994 in Russia and moved to Canada in 2000, where I went to school. I happily played World of Warcraft during 2007-2010, but one day Blizzard removed the damage component from my beloved warlock's Siphon Life spell. I cried myself to sleep, and on that day I realized what horrors centralized services can bring. I soon decided to quit.
In 2011, searching for a new purpose in life, I discovered Bitcoin. At first, I was skeptical, and did not understand how it could possibly have value without physical backing. But slowly I became more and more interested. I started writing for a blog called Bitcoin Weekly initially at a meek wage of $1.5 per hour, and soon with Mihai Alisie cofounded Bitcoin Magazine.
One of the replies in that thread is absolutely slaying me:
Last I had heard the pool of people actually buying NFTs was incredibly small, but they threw around a lot of money on a lot of stuff. Anyone know if that's still the case?
I saw some stat that about 400,000 people have ever bought an NFT. That's out of probably tens of millions who have bought crypto of some kind. So yeah, even among the crypto world it's a very small group.
Last I had heard the pool of people actually buying NFTs was incredibly small, but they threw around a lot of money on a lot of stuff. Anyone know if that's still the case?
I saw some stat that about 400,000 people have ever bought an NFT. That's out of probably tens of millions who have bought crypto of some kind. So yeah, even among the crypto world it's a very small group.
I think the more interesting stat would be how many people have bought a second-hand NFT, because I really believe it's a tiny group of people buying them for stupid amounts of money and then almost everyone else (of those 400k) buying them for a few bucks expecting someone will want to buy them for $10k or $25mil or whatever soon.
Last I had heard the pool of people actually buying NFTs was incredibly small, but they threw around a lot of money on a lot of stuff. Anyone know if that's still the case?
I saw some stat that about 400,000 people have ever bought an NFT. That's out of probably tens of millions who have bought crypto of some kind. So yeah, even among the crypto world it's a very small group.
I think the more interesting stat would be how many people have bought a second-hand NFT, because I really believe it's a tiny group of people buying them for stupid amounts of money and then almost everyone else (of those 400k) buying them for a few bucks expecting someone will want to buy them for $10k or $25mil or whatever soon.
The theoretical value of NFTs basically demands that everybody hold them
Man, every time I doubt I’m a good person, I can at least tell myself ‘remember how dissapointed you with the nerfs to your warlock main? At least you didn’t kickstart an environmental catastrophe because of it’
A week after the project launch, the anonymous developer known as Evil Ape who promised that game vanished along with the project’s official Twitter account and website. But they left traces behind on the blockchain that shows they siphoned 798 ether ($2.7 million) out of the project’s funds in multiple transfers. The funds, derived from the initial public sale of NFTs and commissions on the secondary market, were meant for project-related expenses like marketing.
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Kane Red RobeMaster of MagicArcanusRegistered Userregular
Every time! Also why does all NFT art look like absolute garbage?
omfg… etherium was created as a cope for a world of warcraft nerf?? im losing my fucking mind. imagine being so mad you… what the fuck https://about.me/vitalik_buterin
The "About Me" section that he quotes is this:
I was born in 1994 in Russia and moved to Canada in 2000, where I went to school. I happily played World of Warcraft during 2007-2010, but one day Blizzard removed the damage component from my beloved warlock's Siphon Life spell. I cried myself to sleep, and on that day I realized what horrors centralized services can bring. I soon decided to quit.
In 2011, searching for a new purpose in life, I discovered Bitcoin. At first, I was skeptical, and did not understand how it could possibly have value without physical backing. But slowly I became more and more interested. I started writing for a blog called Bitcoin Weekly initially at a meek wage of $1.5 per hour, and soon with Mihai Alisie cofounded Bitcoin Magazine.
The most insane thing is that he's not even complaining about centralization of a good or service.
He's complaining about centralization of a creative work.
Imagine Kathy Bates from the movie "Misery" starting a crypto currency because she doesn't like what James Caan did with his stories.
It's one thing to complain that George Lucas made bad decisions with the Star Wars prequels. But it's quite another thing to conclude with "And this is why creators shouldn't have creative control over their work in the first place."
I remember that nerf, and the one like a month later that made corruption and immolation mutually exclusive. I was an affliction warlock at the time, so losing two dots out of my rotation in rapid succession just as my guild was getting ready for Ulduar really pissed me off. Intellectually I know affliction had serious runaway scaling in early WotLK and was going to be utterly out of control if it kept all six dots, but man if I hated seeing my numbers on Patchwerk drop.
But, you know. I respecced demonology.
Hevach on
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TetraNitroCubaneThe DjinneratorAt the bottom of a bottleRegistered Userregular
A week after the project launch, the anonymous developer known as Evil Ape who promised that game vanished along with the project’s official Twitter account and website. But they left traces behind on the blockchain that shows they siphoned 798 ether ($2.7 million) out of the project’s funds in multiple transfers. The funds, derived from the initial public sale of NFTs and commissions on the secondary market, were meant for project-related expenses like marketing.
Magic bean salesman: so sorry to hear you guys got scammed by that other magic bean salesman but luckily I’m offering you an opportunity to buy some magic beans that really work
That's kind of misleading though, it sounds more like the Executive branch isn't planning on any ban and it would need to come from Congress.
I think it's a bit of a dodge, it's definitely easier to regulate them out of existence than outright ban them considering it's inherently a grey market.
Of course coins all popped like 10% on the news because...well you can just see the nft posts above.
A week after the project launch, the anonymous developer known as Evil Ape who promised that game vanished along with the project’s official Twitter account and website. But they left traces behind on the blockchain that shows they siphoned 798 ether ($2.7 million) out of the project’s funds in multiple transfers. The funds, derived from the initial public sale of NFTs and commissions on the secondary market, were meant for project-related expenses like marketing.
Magic bean salesman: so sorry to hear you guys got scammed by that other magic bean salesman but luckily I’m offering you an opportunity to buy some magic beans that really work
Magic bean buyers: oh thank god
This happens in MLM's all the time, where people move from one scam to the next.
“It’s Easier to Fool People Than It Is to Convince Them That They Have Been Fooled.” – Mark Twain
More than 615,000 traders have bought or sold Axie Infinity NFTs in 4.88 million transactions, according to DappRadar. This means that an average transaction for an Axie Infinity NFT is worth about $420. The company and secondary sales of the NFT characters have now reached $33 million a day. All of this is pretty amazing for a company that had $100,000 in sales in January.
It is an interesting model, not unlike the old Blizzard RMAH where you let players sell things to other players and take a cut. I have no idea why it has to be NFT-based other than the 'cool factor'. That they are getting to that level of sales is fairly ridiculous though, especially with not being on the standard app stores.
More than 615,000 traders have bought or sold Axie Infinity NFTs in 4.88 million transactions, according to DappRadar. This means that an average transaction for an Axie Infinity NFT is worth about $420. The company and secondary sales of the NFT characters have now reached $33 million a day. All of this is pretty amazing for a company that had $100,000 in sales in January.
Have any of these NFT games actually produced anything identifiable as a game? I've seen ads for a bunch of them and they all have some still art of something that could be a game, super vague descriptions that usually seem to indicate you pay them a bunch of money and then you win at the game without necessarily having to actually play it at all, and then basically no hard details about gameplay, game systems, or even tech details. The 'Evolved Apes' thing was apparently going to be a fighting game? I'll admit to not looking into it at all between initially seeing a post about RNG-generated ape art selling for big bucks and this, but did they ever actually show any game footage? Or are these things all just super-obvious scams?
Have any of these NFT games actually produced anything identifiable as a game? I've seen ads for a bunch of them and they all have some still art of something that could be a game, super vague descriptions that usually seem to indicate you pay them a bunch of money and then you win at the game without necessarily having to actually play it at all, and then basically no hard details about gameplay, game systems, or even tech details. The 'Evolved Apes' thing was apparently going to be a fighting game? I'll admit to not looking into it at all between initially seeing a post about RNG-generated ape art selling for big bucks and this, but did they ever actually show any game footage? Or are these things all just super-obvious scams?
The idea of a "game" is entirely subjective.
Like I personally don't consider Pokémon go a real game because there's not much strategy involved, but other people seem to enjoy it, and as long as they enjoy it then it counts.
Have any of these NFT games actually produced anything identifiable as a game? I've seen ads for a bunch of them and they all have some still art of something that could be a game, super vague descriptions that usually seem to indicate you pay them a bunch of money and then you win at the game without necessarily having to actually play it at all, and then basically no hard details about gameplay, game systems, or even tech details. The 'Evolved Apes' thing was apparently going to be a fighting game? I'll admit to not looking into it at all between initially seeing a post about RNG-generated ape art selling for big bucks and this, but did they ever actually show any game footage? Or are these things all just super-obvious scams?
The idea of a "game" is entirely subjective.
Like I personally don't consider Pokémon go a real game because there's not much strategy involved, but other people seem to enjoy it, and as long as they enjoy it then it counts.
Yeah, I wasn't trying to gatekeep "what is a game". I wouldn't personally consider the battling tamagochi thing that Axie Infinity apparently is much of a game but it is a game and I guess a bunch of people either like it or think they can get rich off it. I wasn't aware there were any NFT-based games 3 years ago, but I guess some do exist. I still strongly suspect that most of the recent crop of them with very thin websites around NFT-sales marketplaces are almost certainly vaporware designed to eat money, though.
Yeah as far as I can tell the NFT games are all at about the "Newground flash game" level now. All of the people 'playing' them are really just trying to accumulate the NFTs for speculation purposes.
Considering speculation and trading is the only real use case crypto has ever had, I can easily see how cartoon pictures, trading cards and video game items are a much better avenue for that activity than abstract coins ever were.
Have any of these NFT games actually produced anything identifiable as a game? I've seen ads for a bunch of them and they all have some still art of something that could be a game, super vague descriptions that usually seem to indicate you pay them a bunch of money and then you win at the game without necessarily having to actually play it at all, and then basically no hard details about gameplay, game systems, or even tech details. The 'Evolved Apes' thing was apparently going to be a fighting game? I'll admit to not looking into it at all between initially seeing a post about RNG-generated ape art selling for big bucks and this, but did they ever actually show any game footage? Or are these things all just super-obvious scams?
If they actually wanted to make a game out of it, you’d think they’d do the most fucking obvious thing in the world: buy and sell CS:GO weapons and gear with it instead of doing some stupid slapped-together-with bullshit thing that says “oh, this TOTALLY isn’t a scam *winkwinknudgenudge*”
I mean, it’s right there, for crying out loud!
…but they won’t, because the end goal isn’t to actually make a working game, it’s to soak stupid fucking imbeciles of money and then vanish into the night with it while leaving then naught but a shitty ape picture.
Have any of these NFT games actually produced anything identifiable as a game? I've seen ads for a bunch of them and they all have some still art of something that could be a game, super vague descriptions that usually seem to indicate you pay them a bunch of money and then you win at the game without necessarily having to actually play it at all, and then basically no hard details about gameplay, game systems, or even tech details. The 'Evolved Apes' thing was apparently going to be a fighting game? I'll admit to not looking into it at all between initially seeing a post about RNG-generated ape art selling for big bucks and this, but did they ever actually show any game footage? Or are these things all just super-obvious scams?
The idea of a "game" is entirely subjective.
Like I personally don't consider Pokémon go a real game because there's not much strategy involved, but other people seem to enjoy it, and as long as they enjoy it then it counts.
Clearly you haven't played the game's Battle League. :P If you don't have a careful strategy behind switching mon and when to use shields/charged attacks, you'll get slaughtered.
Near the bottom of this article is the big news if true: it asserts that most of tether's cash are either in short term loans to Chinese companies (probably insolvent before Evergrande anyway) or in loans to offer crypto companies using Bitcoin as collateral.
I believe this. It would explain how nobody reputable seems to have any relationship with them. It also means this thing is going implode spectacularly.
Near the bottom of this article is the big news if true: it asserts that most of tether's cash are either in short term loans to Chinese companies (probably insolvent before Evergrande anyway) or in loans to offer crypto companies using Bitcoin as collateral.
I believe this. It would explain how nobody reputable seems to have any relationship with them. It also means this thing is going implode spectacularly.
This has been somewhat known for at least a year, it's part of why the New York Attorney General, kicked them out of the state. It's bad.
Near the bottom of this article is the big news if true: it asserts that most of tether's cash are either in short term loans to Chinese companies (probably insolvent before Evergrande anyway) or in loans to offer crypto companies using Bitcoin as collateral.
I believe this. It would explain how nobody reputable seems to have any relationship with them. It also means this thing is going implode spectacularly.
There are now 69 billion Tethers in circulation, 48 billion of them issued this year. That means the company supposedly holds a corresponding $69 billion in real money to back the coins—an amount that would make it one of the 50 largest banks in the U.S., if it were a U.S. bank and not an unregulated offshore company.
...
As far as the regulators are concerned, the size of Tether’s supposed dollar holdings is so big that it would be dangerous even assuming the dollars are real. If enough traders asked for their dollars back at once, the company could have to liquidate its assets at a loss, setting off a run on the not-bank. The losses could cascade into the regulated financial system by crashing credit markets. If the trolls are right, and Tether is a Ponzi scheme, it would be larger than Bernie Madoff’s.
...
The officials who gathered in July at the Treasury Department are discussing regulating Tether like a bank, which would force Devasini to finally show where the money is, or even undermining it by issuing an official U.S. stablecoin. The strange thing is that, at least for now, most participants in the crypto market, including some very large and sophisticated operators, don’t seem to care about any of the risks. Just last month, traders bought $3 billion in new Tethers, presumably sending billions of perfectly good U.S. dollars to the Inspector Gadget co-creator’s Bahamian bank in exchange for digital tokens conjured by the Mighty Ducks guy and run by executives who are targets of a U.S. criminal investigation.
I actually *don't* think Tether will implode, unless a major crash of the general crypto market takes it down with it. Because it's not really being used as a tradeable commodity like the unpegged coins are, it's not being allowed to operate on any kind of market. It's being used as store credit for the exchanges - an extra barrier between you and getting your money back out, an extra step to incur fees, etc. It's less a scam and more a pillar to uphold the larger scam, and as long as that scam goes on, Tether will remain.
Hell, the way its used I even think the company itself going won't stop it - it'll just be a good figleaf for exchanges to issue their own fake dollars for the same purpose (generously honoring their users Tether because it costs them nothing to just copy the database numbers), without the need for generating on-paper debt to pretend it's somehow real.
I suppose I'm a little jealous. I wish I was morally depraved enough to craft a bs new crypto and then steal the millions that the tech bros throw away.
"Simple, real stupidity beats artificial intelligence every time." -Mustrum Ridcully in Terry Pratchett's Hogfather p. 142 (HarperPrism 1996)
I suppose I'm a little jealous. I wish I was morally depraved enough to craft a bs new crypto and then steal the millions that the tech bros throw away.
You can just make an avatar generator/randomizer and not even have to steal anything!
I suppose I'm a little jealous. I wish I was morally depraved enough to craft a bs new crypto and then steal the millions that the tech bros throw away.
You can just make an avatar generator/randomizer and not even have to steal anything!
I am completely sure that part of the NFT market is proxy trading something from the dark web.
Posts
Around the time the Cubs won the World Series
I saw some stat that about 400,000 people have ever bought an NFT. That's out of probably tens of millions who have bought crypto of some kind. So yeah, even among the crypto world it's a very small group.
I think the more interesting stat would be how many people have bought a second-hand NFT, because I really believe it's a tiny group of people buying them for stupid amounts of money and then almost everyone else (of those 400k) buying them for a few bucks expecting someone will want to buy them for $10k or $25mil or whatever soon.
The theoretical value of NFTs basically demands that everybody hold them
WoW
Dear Satan.....
Vice news is news.
Ahem.
HAHAHAHAHHAHAHAHAHA.
Steam: Elvenshae // PSN: Elvenshae // WotC: Elvenshae
Wilds of Aladrion: [https://forums.penny-arcade.com/discussion/comment/43159014/#Comment_43159014]Ellandryn[/url]
I feel like we’re two steps away from these guys just openly advertising the scam
Pluto was a planet and I'll never forget
It's been done.
The most insane thing is that he's not even complaining about centralization of a good or service.
He's complaining about centralization of a creative work.
Imagine Kathy Bates from the movie "Misery" starting a crypto currency because she doesn't like what James Caan did with his stories.
It's one thing to complain that George Lucas made bad decisions with the Star Wars prequels. But it's quite another thing to conclude with "And this is why creators shouldn't have creative control over their work in the first place."
I'm suddenly reminded of this:
http://lesedgertononwriting.blogspot.com/2011/03/rubber-ducky.html
But, you know. I respecced demonology.
I wonder how those who invested are tak- Oh.
https://www.bloomberg.com/news/articles/2021-10-05/sec-chief-signals-crypto-ban-like-china-s-won-t-happen-in-u-s
That's kind of misleading though, it sounds more like the Executive branch isn't planning on any ban and it would need to come from Congress.
I think it's a bit of a dodge, it's definitely easier to regulate them out of existence than outright ban them considering it's inherently a grey market.
Of course coins all popped like 10% on the news because...well you can just see the nft posts above.
This happens in MLM's all the time, where people move from one scam to the next.
“It’s Easier to Fool People Than It Is to Convince Them That They Have Been Fooled.” – Mark Twain
Sky Mavis raises $152M at nearly $3B valuation for Axie Infinity play-to-earn NFT game
It is an interesting model, not unlike the old Blizzard RMAH where you let players sell things to other players and take a cut. I have no idea why it has to be NFT-based other than the 'cool factor'. That they are getting to that level of sales is fairly ridiculous though, especially with not being on the standard app stores.
... because of course it is.
Steam: Elvenshae // PSN: Elvenshae // WotC: Elvenshae
Wilds of Aladrion: [https://forums.penny-arcade.com/discussion/comment/43159014/#Comment_43159014]Ellandryn[/url]
The idea of a "game" is entirely subjective.
Like I personally don't consider Pokémon go a real game because there's not much strategy involved, but other people seem to enjoy it, and as long as they enjoy it then it counts.
Yeah, I wasn't trying to gatekeep "what is a game". I wouldn't personally consider the battling tamagochi thing that Axie Infinity apparently is much of a game but it is a game and I guess a bunch of people either like it or think they can get rich off it. I wasn't aware there were any NFT-based games 3 years ago, but I guess some do exist. I still strongly suspect that most of the recent crop of them with very thin websites around NFT-sales marketplaces are almost certainly vaporware designed to eat money, though.
Considering speculation and trading is the only real use case crypto has ever had, I can easily see how cartoon pictures, trading cards and video game items are a much better avenue for that activity than abstract coins ever were.
If they actually wanted to make a game out of it, you’d think they’d do the most fucking obvious thing in the world: buy and sell CS:GO weapons and gear with it instead of doing some stupid slapped-together-with bullshit thing that says “oh, this TOTALLY isn’t a scam *winkwinknudgenudge*”
I mean, it’s right there, for crying out loud!
…but they won’t, because the end goal isn’t to actually make a working game, it’s to soak stupid fucking imbeciles of money and then vanish into the night with it while leaving then naught but a shitty ape picture.
I can has cheezburger, yes?
Clearly you haven't played the game's Battle League. :P If you don't have a careful strategy behind switching mon and when to use shields/charged attacks, you'll get slaughtered.
Honestly it’s a great proof of concept for a real Pokémon mmarrpg
Edit: gyms and mega raids continue to be the absolute fucking worst though
Near the bottom of this article is the big news if true: it asserts that most of tether's cash are either in short term loans to Chinese companies (probably insolvent before Evergrande anyway) or in loans to offer crypto companies using Bitcoin as collateral.
I believe this. It would explain how nobody reputable seems to have any relationship with them. It also means this thing is going implode spectacularly.
This has been somewhat known for at least a year, it's part of why the New York Attorney General, kicked them out of the state. It's bad.
Wow.
Rock Band DLC | GW:OttW - arrcd | WLD - Thortar
Hell, the way its used I even think the company itself going won't stop it - it'll just be a good figleaf for exchanges to issue their own fake dollars for the same purpose (generously honoring their users Tether because it costs them nothing to just copy the database numbers), without the need for generating on-paper debt to pretend it's somehow real.
When tether implodes, so will bitcoin, unless bitcoin implodes first, in which case so will tether.
DAI appears to be the stablecoin of choice for whatever reason
Let's play Mario Kart or something...
You can just make an avatar generator/randomizer and not even have to steal anything!
Nice
I am completely sure that part of the NFT market is proxy trading something from the dark web.