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[Crypto and NFTs and associated garbage] Still can't figure out good uses for Blockchain

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  • PreacherPreacher Registered User regular
    edited May 17
    Sad, but it won't like make me hate Joker, it sadly feels like the exact kind of scam he'd fall for.

    Someone pay Tricia Helfer to voice why NFT's are bad so Seth understands it.

    Preacher on
    I would like some money because these are artisanal nuggets of wisdom philistine.

    pleasepaypreacher.net
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  • CouscousCouscous Registered User regular
    edited May 17
    https://www.theblockcrypto.com/post/147046/defi-lender-left-with-35-million-bad-debt-after-quoting-depegged-stablecoins-at-1
    DeFi lending protocol Scream kept the price of two unpegged stablecoins hardcoded to $1 on its platform.

    Users borrowed other stablecoins on the cheap, leaving the DeFi lender with $35 million in bad debt.
    Scream, a DeFi lending protocol on Fantom, has incurred $35 million in bad debt after failing to adjust the price of two stablecoins that lost their US dollar peg.

    The two stablecoins in question are Fantom USD (fUSD) and Dei (DEI). Both coins still have a quoted price of $1, according to data from Scream’s dashboard. Yet they are trading well below peg. fUSD fell to as low as $0.69 while DEI fell to $0.52 at its lowest.

    Whales took advantage of this situation to deposit large amounts of FUSD and DEI at a discounted rate and drained all other stablecoins from the Scream platform. Stablecoins like Fantom USDT, FRAX, DAI, MIM, and USDC have all been siphoned off from the platform.
    Scream responded to the issue with an announcement stating that it was seeking a solution to the bad debt in conjunction with the Fantom Foundation. This workaround will involve liquidating all fUSD loans currently underwater.

    With fUSD depegged, Scream says it will hardcode the stablecoin’s price to $0.81. This solution could also liquidate other users whose positions were not previously at risk of liquidation.
    Hardcoded to $1.

    What.

    Couscous on
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  • TetraNitroCubaneTetraNitroCubane The Djinnerator At the bottom of a bottleRegistered User regular
    Forar wrote: »
    Preacher wrote: »
    Is that a for real tweet or is he like taking the piss. Its hard to tell with people in hollywood.

    I had the same questions, but a quick scroll through his Twitter feed shows that, along with several references to some other NFT project, including one he's involved with that has a 1 minute commercial as the pinned Tweet.

    So, yeah. It's hardly 'omg Orson Scott Card is quite the asshole' levels, but disappointing all the same.

    Notably the term "frens" is basically a alt-right dogwhistle at this point, too. So...

    VuIBhrs.png
    Jragghen
  • Just_Bri_ThanksJust_Bri_Thanks Seething with rage from a handbasket.Registered User, ClubPA regular
    Don't understand what happened please explain.

    ...and when you are done with that; take a folding
    chair to Creation and then suplex the Void.
  • TetraNitroCubaneTetraNitroCubane The Djinnerator At the bottom of a bottleRegistered User regular
    The easiest explanation of anything in this thread is:

    It's scams all the way down.

    VuIBhrs.png
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  • [Expletive deleted][Expletive deleted] The mediocre doctor NorwayRegistered User regular
    Forar wrote: »
    Preacher wrote: »
    Is that a for real tweet or is he like taking the piss. Its hard to tell with people in hollywood.

    I had the same questions, but a quick scroll through his Twitter feed shows that, along with several references to some other NFT project, including one he's involved with that has a 1 minute commercial as the pinned Tweet.

    So, yeah. It's hardly 'omg Orson Scott Card is quite the asshole' levels, but disappointing all the same.

    Notably the term "frens" is basically a alt-right dogwhistle at this point, too. So...

    What does frens mean? Legitimate question

    Sic transit gloria mundi.
    Orca
  • GaddezGaddez Registered User regular
    Don't understand what happened please explain.

    Fool and his money.

    MegaMan001
  • ForarForar #432 Toronto, Ontario, CanadaRegistered User regular
    Forar wrote: »
    Preacher wrote: »
    Is that a for real tweet or is he like taking the piss. Its hard to tell with people in hollywood.

    I had the same questions, but a quick scroll through his Twitter feed shows that, along with several references to some other NFT project, including one he's involved with that has a 1 minute commercial as the pinned Tweet.

    So, yeah. It's hardly 'omg Orson Scott Card is quite the asshole' levels, but disappointing all the same.

    Notably the term "frens" is basically a alt-right dogwhistle at this point, too. So...

    Yeah, that caught my eye as well.

    As I mentioned on Reddit where I first stumbled across this BS, I don't know if it's him trying to coopt it (because everything else on his twitter doesn't seem very alt-right adjacent), or just a 'very online' thing (like how that "Chad" incel shit is everywhere these days), or something else entirely.

    But it was a disappointing surprise on top of an existing disappointing surprise.

    The rancid cherry on a small shit sundae, if you will.

    First they came for the Muslims, and we said NOT TODAY, MOTHERFUCKER!
    TetraNitroCubaneGnome-Interruptus
  • BurtletoyBurtletoy Registered User regular
    Forar wrote: »
    Preacher wrote: »
    Is that a for real tweet or is he like taking the piss. Its hard to tell with people in hollywood.

    I had the same questions, but a quick scroll through his Twitter feed shows that, along with several references to some other NFT project, including one he's involved with that has a 1 minute commercial as the pinned Tweet.

    So, yeah. It's hardly 'omg Orson Scott Card is quite the asshole' levels, but disappointing all the same.

    Notably the term "frens" is basically a alt-right dogwhistle at this point, too. So...

    What does frens mean? Legitimate question

    It's what you caption when you take a picture of your dog sniffing a cat. Because they are frens

    I don't know what it has to do with the alt right

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  • TetraNitroCubaneTetraNitroCubane The Djinnerator At the bottom of a bottleRegistered User regular
    The term "frens" was coopted by rightwing shitheads a while ago. It was used as a way to infantilize hate so as to make it palatable, is the best way I can explain it.

    The subreddit "fredworld" was banned outright from reddit as a result of this. It was pretty freaking gross when it was active.

    The shitheads still use the term on places like the *chans.

    VuIBhrs.png
  • BurtletoyBurtletoy Registered User regular
    Too bad, they can't have it

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  • PreacherPreacher Registered User regular
    edited May 17
    And here I just thought it was the shittiest shorthand for friends ever. God damn kids and your new hate terminology. Back in my day we had to use real racial slurs!

    Wait that doesn't sound the greatest let me uhh workshop this one to the zoomers.

    Preacher on
    I would like some money because these are artisanal nuggets of wisdom philistine.

    pleasepaypreacher.net
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  • TofystedethTofystedeth Registered User regular
    So absent other evidence of alt-right shittery it means nothing. Sometimes people don't spend their entire life investigating which innocuous words they've tried to steal and use them with their original intent.

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  • PreacherPreacher Registered User regular
    I do hate how Chad has escaped the assholaverse and now like hippie just means "man I don't like."

    I would like some money because these are artisanal nuggets of wisdom philistine.

    pleasepaypreacher.net
    Commander ZoommarajiGnome-InterruptusMvrckElvenshae
  • jungleroomxjungleroomx It's never too many graves, it's always not enough shovels Registered User regular
    Couscous wrote: »
    Well frens it happened to me. Got phished and had 4NFT stolen. @BoredApeYC @opensea @doodles @yugalabs please don’t buy or trade these while I work to resolve:
    @DarkWing84 looks like you bought my stolen ape- hit me up so we can fix it
    Heh heh, Seth Green's apes got funged

    sq1laemhrgqq.png

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  • PreacherPreacher Registered User regular
    Man that's a self burn so bad you have to get the special ointment over the counter won't do.

    I would like some money because these are artisanal nuggets of wisdom philistine.

    pleasepaypreacher.net
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  • dlinfinitidlinfiniti Registered User regular
    Butters wrote: »
    Something else might be going on here. Corporations don't sell off assets for cash like that unless they are desperate or fleecing the buyer. I wonder if Square has a bad earnings statement on the horizon.

    It's a longer story not for this thread, but effectively they dont tell the truth in public statements. The properties they sold, always sold very well, but the company kept reporting losses, and then they would blame western properties for "failing". It's believed they are cutting some fat for acquisition(probably Sony)

    I was thinking, wouldn’t Tomb Raider be attractive to Sony, as an IP that helped make the PlayStation a huge success? But then I remembered that Sony already owns an Indiana Jones knock-off. :p

    I could go for a tombcharted game

    AAAAA!!! PLAAAYGUUU!!!!
    FoolOnTheHillElvenshae
  • QanamilQanamil life cheated us all and i'm full of angst Registered User regular
    Chad is usually a positive term now, "what a chad", with variants such as gigachad.

    Language isn't stagnant.

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  • jungleroomxjungleroomx It's never too many graves, it's always not enough shovels Registered User regular
    Qanamil wrote: »
    Chad is usually a positive term now, "what a chad", with variants such as gigachad.

    Language isn't stagnant.

    Yeah, Chad got reclaimed to mean "positive high energy thing." I shared a video of my DS3 Ledo's Hammer and it was described as "Chadly."

  • ForarForar #432 Toronto, Ontario, CanadaRegistered User regular
    So absent other evidence of alt-right shittery it means nothing. Sometimes people don't spend their entire life investigating which innocuous words they've tried to steal and use them with their original intent.

    Said far right folks even backronymed it into "Far Right Ethno Nationalist", because 'what is this frens shit' was a fairly common post on the Trumpist forums back when I was still checking them semi-regularly.

    Thankfully that is no longer part of my routine, but I kinda spoke their dialect for a while.

    First they came for the Muslims, and we said NOT TODAY, MOTHERFUCKER!
  • Commander ZoomCommander Zoom Registered User regular
    edited May 17
    yeah, apparently being an asshole is cool now. :#

    (I've had people try to explain to me that it's different, somehow, but I just see the same behaviors and qualities, only they're being held up as aspirational (again).)

    Commander Zoom on
    steam_sig.png
    Steam, Warframe: Megajoule
  • ForarForar #432 Toronto, Ontario, CanadaRegistered User regular
    edited May 17
    Eh, "Chad" is hardly reclaimed, the whole "Gigachad" thing is intrinsically tied to some hyper masculine physique BS as well.

    It can have different meanings in different contexts, but knowing where it started and the sort of folks who use it incessantly, I'm still gonna give it some side eye, and you won't catch me using it anything but ironically.

    But hey, I'm not a mod nor do I aspire to be part of the language police. I don't think it's a sentiment that's valuable enough to be reclaimed when any number of other less toxic adjacent descriptors could be used, but as the person who brought it up as an aside, that's the last I'll say on things.

    Whether or not my opinion is worthy of consideration I leave up to the reader.

    I never thought I'd miss the days of everything being "Godly" or "Uber", but here we are... and I guess I'm still trapped in Diablo 2 chat, perfect gem activated, etc.

    Forar on
    First they came for the Muslims, and we said NOT TODAY, MOTHERFUCKER!
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  • GaddezGaddez Registered User regular
    Couscous wrote: »
    Well frens it happened to me. Got phished and had 4NFT stolen. @BoredApeYC @opensea @doodles @yugalabs please don’t buy or trade these while I work to resolve:
    @DarkWing84 looks like you bought my stolen ape- hit me up so we can fix it
    Heh heh, Seth Green's apes got funged

    sq1laemhrgqq.png

    Somebody needs to ask these morons how much money do they actually have in their bank account right now. Not hideos pictures of apes, not doge coins but actual real money they can go and buy things with.

    Because it doesn't matter if you have a billion bitcoins when you go to the grocery store to buy your food, ain't nobody taking your non-legal tender.

    PreacherCommander ZoomMoridin889Doctor DetroitGnome-InterruptusknitdanFoolOnTheHillFencingsax
  • Captain InertiaCaptain Inertia Registered User regular
    Leet

    ElvenshaeDark Raven X
  • Magus`Magus` Registered User regular
    1337

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  • mcdermottmcdermott Registered User regular
    So absent other evidence of alt-right shittery it means nothing. Sometimes people don't spend their entire life investigating which innocuous words they've tried to steal and use them with their original intent.

    Yeah a single use of a term like that is meaningless. I once got called out fiercely for using “Democrat” instead of “Democratic” as an adjective. Somebody was at least kind enough to explain to me why people were suddenly assuming I was a right-wing troll. I legitimately didn’t know or understand that this was a thing at all.

    CelestialBadger
  • I needed a gnome to post.I needed a gnome to post. boom Registered User regular
    something a lot of people forget when describing dogwhistles is that the reason they're dogwhistles is they're totally normal things to say

    liEt3nH.png
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  • Munkus BeaverMunkus Beaver You don't have to attend every argument you are invited to. Philosophy: Stoicism. Politics: Democratic SocialistRegistered User, ClubPA regular
    something a lot of people forget when describing dogwhistles is that the reason they're dogwhistles is they're totally normal things to say

    Well, innocuous, but yes.

    nr2rekwxi4nc.png
    Commander ZoommonikermarajiGnome-InterruptusElvenshaeFencingsaxQanamil
  • TaramoorTaramoor Storyteller Registered User regular
    edited May 17
    Don't understand what happened please explain.

    hqdefault.jpg

    Because they trust cryptocurrency absolutely, when they built their little stock exchange they just set the price of these particular stocks at $1 rather than having it adjust in real time to the value of the thing.

    Since people could buy them for less than a dollar in huge numbers on other sites. They bought them for pennies and sold them for a dollar to a company that now has a furnace full of monopoly money to pays its debts with.

    Granted, if I'm reading that right, they were just trading the ones valued at less than a dollar for ones valued at more than a dollar, so it's still all just crypto bullshit, but in this particular instance it's really funny crypto bullshit.

    Taramoor on
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  • BurtletoyBurtletoy Registered User regular
    Taramoor wrote: »

    Granted, if I'm reading that right, they were just trading the ones valued at less than a dollar for ones valued at more than a dollar, so it's still all just crypto bullshit, but in this particular instance it's really funny crypto bullshit.

    It doesn't really matter what the value of the 2nd coin is, if the 1st coin has a 30% arbitrage between exchanges, they could turn all their Xcoin+30% in Shiba Inu Coin at $0.000013 and still walk away happy.

    As long as they can actually sell the Shiba inus at the 'real' price, anyways

    Gnome-Interruptus
  • CouscousCouscous Registered User regular
    https://www.currentaffairs.org/2022/05/why-this-computer-scientist-says-all-cryptocurrency-should-die-in-a-fire/
    Why This Computer Scientist Says All Cryptocurrency Should “Die in a Fire”

    UC-Berkeley’s Nicholas Weaver has been studying cryptocurrency for years. He thinks it’s a terrible idea that will end in disaster.
    WEAVER:
    And I bet they got paid in actual money. Like, the Washington Nationals just the other day started doing a lot of tweets for their business relationship with Terra. That was $5 million for five years prepaid in advance in cash. So for the next five years, the Washington Nationals are obliged to hype a cryptocurrency that failed spectacularly already.

    ROBINSON:
    But they got their money.

    WEAVER:
    They got their money. They just have to hype it now. For five years.
    Washington Nationals
    @Nationals

    𝐂𝐫𝐲𝐩𝐭𝐨 𝟏𝟎𝟏

    You have questions. We've got answers.

    @terra_money // #NATITUDE
    That was May 10th
    That is kind of hilarious

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  • marajimaraji Registered User regular
    DeFi lending protocol Scream kept the price of two unpegged stablecoins hardcoded to $1 on its platform.
    With fUSD depegged, Scream says it will hardcode the stablecoin’s price to $0.81. This solution could also liquidate other users whose positions were not previously at risk of liquidation.

    Wait wait wait wait….

    They put in a constant value for a not-so-stable coin and got pantsed. Okay, they’re cryptobros, got it.

    But their solution was to just change the constant?!

    monikerSleepGiantGeek2020PreacherKayne Red RobeeMoanderGnome-InterruptusBlackDragon480kimePhoenix-DCommander ZoomStabbity StyleArbitraryDescriptorA Kobold's KoboldMoridin889PolaritieOrcadiscriderMvrckrndmheroSpoitsarukunmRahmaniMillElvenshaesanstodoAntinumericTarantioFencingsaxKristmas KthulhuMonwynEmperorSethEinzelMatevexisshrykeNiryaAlanF5Antoshka
  • Kayne Red RobeKayne Red Robe Master of Magic ArcanusRegistered User regular
    Why are there so many of these "stablecoins"? If they only purpose they serve is to be worth a dollar it doesn't seem like there's a lot of need for a bajillion of them.

  • eMoandereMoander Registered User regular
    maraji wrote: »
    DeFi lending protocol Scream kept the price of two unpegged stablecoins hardcoded to $1 on its platform.
    With fUSD depegged, Scream says it will hardcode the stablecoin’s price to $0.81. This solution could also liquidate other users whose positions were not previously at risk of liquidation.

    Wait wait wait wait….

    They put in a constant value for a not-so-stable coin and got pantsed. Okay, they’re cryptobros, got it.

    But their solution was to just change the constant?!

    What’s the problem? It already went down once so there’s no way it could go down a second time. It’s not like it’s called a “downcoin”!
    /tapsforehead

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    marajiElvenshae
  • redxredx I(x)=2(x)+1 whole numbersRegistered User regular
    Why are there so many of these "stablecoins"? If they only purpose they serve is to be worth a dollar it doesn't seem like there's a lot of need for a bajillion of them.

    Because the people who run the other stable coins also want be able to get rich printing money for credulous idiots.

    This machine kills threads.
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  • The WolfmanThe Wolfman Registered User regular
    something a lot of people forget when describing dogwhistles is that the reason they're dogwhistles is they're totally normal things to say

    Like many phrases that have been overplayed to hell and back, the term "dogwhistle" to me now means absolutely jack shit.

    Like maybe somebody can answer this riddle I've been wondering for a while now. When you say the term dogwhistle... who exactly is the "dog" in this scenario?

    "The sausage of Green Earth explodes with flavor like the cannon of culinary delight."
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  • GarthorGarthor Registered User regular
    edited May 18
    something a lot of people forget when describing dogwhistles is that the reason they're dogwhistles is they're totally normal things to say

    Like many phrases that have been overplayed to hell and back, the term "dogwhistle" to me now means absolutely jack shit.

    Like maybe somebody can answer this riddle I've been wondering for a while now. When you say the term dogwhistle... who exactly is the "dog" in this scenario?

    The "dog" is other people in your in-group that understand what you are saying. They can hear it, but other people don't. This is like dogwhistles, which are too high-pitched for people to hear but dogs can hear just fine.

    Garthor on
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  • Phoenix-DPhoenix-D Registered User regular
    something a lot of people forget when describing dogwhistles is that the reason they're dogwhistles is they're totally normal things to say

    Like many phrases that have been overplayed to hell and back, the term "dogwhistle" to me now means absolutely jack shit.

    Like maybe somebody can answer this riddle I've been wondering for a while now. When you say the term dogwhistle... who exactly is the "dog" in this scenario?

    In this case? Alt-right dumbasses.

    Doctor DetroitTetraNitroCubaneElvenshaeFencingsaxRedTide
  • Hahnsoo1Hahnsoo1 Make Ready. We Hunt.Registered User regular
    edited May 18
    something a lot of people forget when describing dogwhistles is that the reason they're dogwhistles is they're totally normal things to say

    Like many phrases that have been overplayed to hell and back, the term "dogwhistle" to me now means absolutely jack shit.

    Like maybe somebody can answer this riddle I've been wondering for a while now. When you say the term dogwhistle... who exactly is the "dog" in this scenario?

    An actual dog whistle (as in, the physical object) is a whistle that plays a pitch so high that it can only be heard by dogs (and occasionally, children who have not lost their high frequency hearing). So when you blow on a dog whistle, you either hear nothing or just a feeling of “pressure”.

    The idea behind the modern term dogwhistle is a term that is innocuous at first glance (usually something in common use already), but signifies something else for an “in” group. It’s code language that hides in plain sight, and usually broadcast to mass groups. It varies from shibboleths and other codes like secret handshakes in subtle ways, but the big one is that it is something that is said over a broadcast.

    In this particular case, it’s using “frens”, an innocuous Internet slang term for “my fellow man” as a derivative of “friends”, as a dogwhistle to signal “hey, alt-right buds, I am one of you”. Sometimes, dogwhistles also require context because they are innocuous and thus can be used innocently.

    Hahnsoo1 on
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  • Hahnsoo1Hahnsoo1 Make Ready. We Hunt.Registered User regular
    Like, this is off topic, but a friend of mine is having a child on August 8 (planned c-section for his wife), and he was proudly saying “That will be SO easy to remember! 88!” And I was like “oh boy…” :/

    I explained to him what that means to white supremacists, and he was like “uh… damn. Maybe we can move the date or something?” I told him not to worry about it, since no one is going to think he is saluting Hitler, but maybe don’t go around saying 88 all the time.

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    PSN: Hahnsoo | MH Rise: Hahnsoo, Switch FC: SW-0085-2679-5212
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