Buterin retweeted the user on Saturday, saying: “Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about ‘20% interest rates on the US dollar’ by an influencer, personal responsibility and SFYL [or sorry for your loss] for the wealthy.”
He added that the “obvious precedent is FDIC insurance,” being “up to $250,000 per person.”
Hrmmmm....
HRMMMMM...
+22
Options
Nova_CI have the needThe need for speedRegistered Userregular
Buterin retweeted the user on Saturday, saying: “Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about ‘20% interest rates on the US dollar’ by an influencer, personal responsibility and SFYL [or sorry for your loss] for the wealthy.”
He added that the “obvious precedent is FDIC insurance,” being “up to $250,000 per person.”
Hrmmmm....
HRMMMMM...
Haha, ah yeah, rugged individualists begging for government handouts. You love to see it.
+47
Options
Just_Bri_ThanksSeething with ragefrom a handbasket.Registered User, ClubPAregular
It's like he doesn't know what FDIC even means!
...and when you are done with that; take a folding
chair to Creation and then suplex the Void.
Buterin retweeted the user on Saturday, saying: “Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about ‘20% interest rates on the US dollar’ by an influencer, personal responsibility and SFYL [or sorry for your loss] for the wealthy.”
He added that the “obvious precedent is FDIC insurance,” being “up to $250,000 per person.”
Hrmmmm....
HRMMMMM...
FDIC:
Federal
Deposit Insurance
Corporation
The FDIC is funded by banks and similar that pay for coverage. The legislative involvement is mostly in requiring this coverage.
Honestly, I say go for it. It'll be funny to watch the crypto crowd try to convince someone who knows what they're doing that the latest crypto bullshit is a reasonable thing to insure. They don't even need to get the feds involved. They could simply attempt to convince a private insurance company to create an insurance product to protect against price crashes, and it would be just as funny.
Funny seeing the same kind of people that praised decentralization and lack of oversight/regulations now expecting some kind of protection against getting screwed over.
Buterin retweeted the user on Saturday, saying: “Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about ‘20% interest rates on the US dollar’ by an influencer, personal responsibility and SFYL [or sorry for your loss] for the wealthy.”
He added that the “obvious precedent is FDIC insurance,” being “up to $250,000 per person.”
Hrmmmm....
HRMMMMM...
FDIC:
Federal
Deposit Insurance
Corporation
The FDIC is funded by banks and similar that pay for coverage. The legislative involvement is mostly in requiring this coverage.
Honestly, I say go for it. It'll be funny to watch the crypto crowd try to convince someone who knows what they're doing that the latest crypto bullshit is a reasonable thing to insure. They don't even need to get the feds involved. They could simply attempt to convince a private insurance company to create an insurance product to protect against price crashes, and it would be just as funny.
The Crypto Coin Insurance Company you created sounds like a great scam, you better hop to before someone else does it first!
Buterin retweeted the user on Saturday, saying: “Strongly support this. Coordinated sympathy and relief for the average UST smallholder who got told something dumb about ‘20% interest rates on the US dollar’ by an influencer, personal responsibility and SFYL [or sorry for your loss] for the wealthy.”
He added that the “obvious precedent is FDIC insurance,” being “up to $250,000 per person.”
Hrmmmm....
HRMMMMM...
FDIC:
Federal
Deposit Insurance
Corporation
The FDIC is funded by banks and similar that pay for coverage. The legislative involvement is mostly in requiring this coverage.
Honestly, I say go for it. It'll be funny to watch the crypto crowd try to convince someone who knows what they're doing that the latest crypto bullshit is a reasonable thing to insure. They don't even need to get the feds involved. They could simply attempt to convince a private insurance company to create an insurance product to protect against price crashes, and it would be just as funny.
The Crypto Coin Insurance Company you created sounds like a great scam, you better hop to before someone else does it first!
Oh shit, sell NFTs so people can be in the ground floor. Write a smart contract to automate everything.
by which I mean filing a claim transfers the insurees entire wallet to the insurer
To be fair, his actual suggestion was to prioritize paying out to the smaller accounts first, those under a certain amount, with the whales being left to deal. He said that they could cover the lower 99.7% being able to be covered with the remaining money
If he said SIPC it would be a little less funny, but he probably only knows FDIC because he sees the signs at the bank.
SIPC is the similar insurance that stock brokers have to carry, and it does cover stock portfolios to a pretty reasonable degree.
It's still pretty funny, because
A. Like the FDIC and NCUA, brokers have to pay for it. And they have to pay for it BEFORE they go belly up, it isn't retroactive.
B. It covers the broker failing, not your stocks failing. If you bought ScamFraud LTD and it turned out to be a scam, the SIPC don't give a fuck.
The problem of trying to recreate the FDIC isn't the insurance aspect.
The entire reason the FDIC can work is because the Federal government has the power to print new fiat currency to replace lost fiat currency. In order for there to be a block chain equivalent, you need the able to print new crypto on the fly, which defies the entire reason that crypto exists in the first place.
Isn't part of the issue that they want to replace their Ethereum funbux with real money? Said monies being created in the first place to replace the real money?
Isn't the crash really about how nobody wants to buy Ethereum for the same amount of real money that the investors paid? Don't they still have the crypto?
The sky was full of stars, every star an exploding ship. One of ours.
Isn't part of the issue that they want to replace their Ethereum funbux with real money? Said monies being created in the first place to replace the real money?
Isn't the crash really about how nobody wants to buy Ethereum for the same amount of real money that the investors paid? Don't they still have the crypto?
It's Terra that they want to be compensated for. The Terra block chain was halted and is no longer running, so transactions on the chain can't happen.
Terra in exchanges are still tradeable inside that exchange, but can't be moved on or off, anyone with coins in wallets on the block chain itself lost those coins, and also technically the exchanges lost their coins in their communal wallets, but some are still letting people trade them on the promise that the block chain will be somehow restarted. Looks like it is currently trading at $0.0001881 on the exchanges that haven't delisted it.
Isn't part of the issue that they want to replace their Ethereum funbux with real money? Said monies being created in the first place to replace the real money?
Isn't the crash really about how nobody wants to buy Ethereum for the same amount of real money that the investors paid? Don't they still have the crypto?
It's Terra that they want to be compensated for. The Terra block chain was halted and is no longer running, so transactions on the chain can't happen.
Terra in exchanges are still tradeable inside that exchange, but can't be moved on or off. Looks like it is currently trading at $0.0001881.
Terra is a dollar-pegged stable coin.
So they still have the crypto, just the chain is halted because they don’t want anyone to “see” its value?
Isn't part of the issue that they want to replace their Ethereum funbux with real money? Said monies being created in the first place to replace the real money?
Isn't the crash really about how nobody wants to buy Ethereum for the same amount of real money that the investors paid? Don't they still have the crypto?
It's Terra that they want to be compensated for. The Terra block chain was halted and is no longer running, so transactions on the chain can't happen.
Terra in exchanges are still tradeable inside that exchange, but can't be moved on or off. Looks like it is currently trading at $0.0001881.
Terra is a dollar-pegged stable coin.
So they still have the crypto, just the chain is halted because they don’t want anyone to “see” its value?
The chain doesn't actually show the value, that's shown on exchanges. The chain allows new coins to be created or coins to move between wallets. If it were dollars it would be the Fed. The Fed doesn't give dollars value, it creates them and gives them full freedom of movement.
But because most coins primarily move inside of exchange databases where they sit in communal wallets and don't move on the chain, coins have limited freedom of movement with the chain halted. Indeed there's a few stable coins where it's doubtful a real chain even exists because nobody actually has access to it and billions of them just get magically airdropped on exchanges every time something crashes.
The problem of trying to recreate the FDIC isn't the insurance aspect.
The entire reason the FDIC can work is because the Federal government has the power to print new fiat currency to replace lost fiat currency. In order for there to be a block chain equivalent, you need the able to print new crypto on the fly, which defies the entire reason that crypto exists in the first place.
This isn't an issue. You can simply insure the investment as an investment priced in dollars. If it crashes, you get reimbursed in dollars. The problem is all the sketchy stuff around crypto increases risk, which increases the cost of insurance. So either the cost of insurance becomes absurd, or the regulations needed for insurance to even touch it becomes absurd.
The problem of trying to recreate the FDIC isn't the insurance aspect.
The entire reason the FDIC can work is because the Federal government has the power to print new fiat currency to replace lost fiat currency. In order for there to be a block chain equivalent, you need the able to print new crypto on the fly, which defies the entire reason that crypto exists in the first place.
This isn't an issue. You can simply insure the investment as an investment priced in dollars. If it crashes, you get reimbursed in dollars. The problem is all the sketchy stuff around crypto increases risk, which increases the cost of insurance. So either the cost of insurance becomes absurd, or the regulations needed for insurance to even touch it becomes absurd.
Or and this is just an idea; you insure everything in Dogecoin.
Yeah like, the FDIC isn't some basic insurance. That system works because the FDIC gets to audit the banks to make sure risk is being limited, that the books aren't being cooked, and gets to require specific amounts of cash reserves.
And the FDIC usually doesn't even pay out when a bank fails, instead they have the power to arrange for a different bank to take over the accounts (and debts). Them cutting checks to individuals is pretty rare.
Regulatory power: good actually.
life's a game that you're bound to lose / like using a hammer to pound in screws
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
The iconic Tomb Raider video game franchise is being sold by its Japanese publisher Square Enix as part of a $300 million deal.
Square Enix said Monday it will offload three of its game development studios — Eidos Interactive, Crystal Dynamics and Square Enix Montreal — to Swedish firm Embracer Group.
Embracer will also acquire the intellectual property for Tomb Raider and three other game series, including Deux Ex, Thief and Legacy of Kain.
Square Enix said it is selling the assets to cut down on costs amid a challenging global business environment, while also investing in new technologies like the blockchain.
Like... This whole thing is insane; you have Squeenix selling multiple IPs (one of which was halfway through development) along with multiple studios, staff and multiple brick and mortar properties for a pittance so that you can invest in a market that your consumers loathe and is even now crashing.
The iconic Tomb Raider video game franchise is being sold by its Japanese publisher Square Enix as part of a $300 million deal.
Square Enix said Monday it will offload three of its game development studios — Eidos Interactive, Crystal Dynamics and Square Enix Montreal — to Swedish firm Embracer Group.
Embracer will also acquire the intellectual property for Tomb Raider and three other game series, including Deux Ex, Thief and Legacy of Kain.
Square Enix said it is selling the assets to cut down on costs amid a challenging global business environment, while also investing in new technologies like the blockchain.
Like... This whole thing is insane; you have Squeenix selling multiple IPs (one of which was halfway through development) along with multiple studios, staff and multiple brick and mortar properties for a pittance so that you can invest in a market that your consumers loathe and is even now crashing.
Madness. Madness and stupidity.
I know Deus Ex was already pretty much gone, but this makes me sad
The iconic Tomb Raider video game franchise is being sold by its Japanese publisher Square Enix as part of a $300 million deal.
Square Enix said Monday it will offload three of its game development studios — Eidos Interactive, Crystal Dynamics and Square Enix Montreal — to Swedish firm Embracer Group.
Embracer will also acquire the intellectual property for Tomb Raider and three other game series, including Deux Ex, Thief and Legacy of Kain.
Square Enix said it is selling the assets to cut down on costs amid a challenging global business environment, while also investing in new technologies like the blockchain.
Like... This whole thing is insane; you have Squeenix selling multiple IPs (one of which was halfway through development) along with multiple studios, staff and multiple brick and mortar properties for a pittance so that you can invest in a market that your consumers loathe and is even now crashing.
I know Deus Ex was already pretty much gone, but this makes me sad
I mean, from where I'm standing it's chances only get better at this point; you have a bunch of back catalogue titles that the heads of Square forgot about ages ago having a chance at getting development. Like Christ the last thing anyone did with Legacy of Kain was Nosgoth, a free to play team deathmatch and thief had a "blink and you missed it" release 8 years ago.
Meanwhile Square is just so eager to burn piles of money on a final stage ponzi scheme.
Though the actual reason is "we never could figure out how to make them profitable enough, especially with Avengers and Guardians of the Galaxy bombing, and now we're sick of them." But they couldn't say that because it would lower the sale price.
Though the actual reason is "we never could figure out how to make them profitable enough, especially with Avengers and Guardians of the Galaxy bombing, and now we're sick of them." But they couldn't say that because it would lower the sale price.
I mean, even if they weren't making a profit, $300M is still peanuts for the IPs alone.
Though the actual reason is "we never could figure out how to make them profitable enough, especially with Avengers and Guardians of the Galaxy bombing, and now we're sick of them." But they couldn't say that because it would lower the sale price.
I mean, even if they weren't making a profit, $300M is still peanuts for the IPs alone.
Again, the removal of Deus Ex from Squeenix's stupid, greedy claws is the best thing to happen to that IP since Human Revolution.
Maybe we'll get a game without their constant desire to monetize fucking everything, at the cost of having a good game.
+8
Options
ButtersA glass of some milksRegistered Userregular
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.
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.
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)
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 might be a little bit of that but I'm guessing a chunk of it was a case of "We want to get in on Crypto. But Crypto costs money to get anywhere. We don't want to direct funds to crypto. If we sell these titles No one cares about* for a fire sale price we can get money for crypto!"
*obviously people care about these IPs, and I'm guessing they got a whole lot more then 4 with this aquisition.
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)
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.
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
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.
First they came for the Muslims, and we said NOT TODAY, MOTHERFUCKER!
Posts
Hrmmmm....
HRMMMMM...
Haha, ah yeah, rugged individualists begging for government handouts. You love to see it.
chair to Creation and then suplex the Void.
FDIC:
Federal
Deposit
Insurance
Corporation
The FDIC is funded by banks and similar that pay for coverage. The legislative involvement is mostly in requiring this coverage.
Honestly, I say go for it. It'll be funny to watch the crypto crowd try to convince someone who knows what they're doing that the latest crypto bullshit is a reasonable thing to insure. They don't even need to get the feds involved. They could simply attempt to convince a private insurance company to create an insurance product to protect against price crashes, and it would be just as funny.
Battle.net: Fireflash#1425
Steam Friend code: 45386507
The Crypto Coin Insurance Company you created sounds like a great scam, you better hop to before someone else does it first!
Oh shit, sell NFTs so people can be in the ground floor. Write a smart contract to automate everything.
What's that, your coins are worth $0 because it was a rug pull? Well, 0.75 * 0 = 0 so, sorry, better luck next time
*current price to be defined as the lowest value during a 120 day period
To be fair, his actual suggestion was to prioritize paying out to the smaller accounts first, those under a certain amount, with the whales being left to deal. He said that they could cover the lower 99.7% being able to be covered with the remaining money
SIPC is the similar insurance that stock brokers have to carry, and it does cover stock portfolios to a pretty reasonable degree.
It's still pretty funny, because
A. Like the FDIC and NCUA, brokers have to pay for it. And they have to pay for it BEFORE they go belly up, it isn't retroactive.
B. It covers the broker failing, not your stocks failing. If you bought ScamFraud LTD and it turned out to be a scam, the SIPC don't give a fuck.
There are 4-5 guys credited with working on the total ethereum suite, but yes, the article quotes Vitalik Buterin, who was indeed a warlock main.
~ Buckaroo Banzai
Dropping the "But what if I told you, that entity, was the US Government!" as the last and biggest applause line in your TED talk
The entire reason the FDIC can work is because the Federal government has the power to print new fiat currency to replace lost fiat currency. In order for there to be a block chain equivalent, you need the able to print new crypto on the fly, which defies the entire reason that crypto exists in the first place.
Isn't the crash really about how nobody wants to buy Ethereum for the same amount of real money that the investors paid? Don't they still have the crypto?
Terra in exchanges are still tradeable inside that exchange, but can't be moved on or off, anyone with coins in wallets on the block chain itself lost those coins, and also technically the exchanges lost their coins in their communal wallets, but some are still letting people trade them on the promise that the block chain will be somehow restarted. Looks like it is currently trading at $0.0001881 on the exchanges that haven't delisted it.
Terra is a dollar-pegged stable coin.
The chain doesn't actually show the value, that's shown on exchanges. The chain allows new coins to be created or coins to move between wallets. If it were dollars it would be the Fed. The Fed doesn't give dollars value, it creates them and gives them full freedom of movement.
But because most coins primarily move inside of exchange databases where they sit in communal wallets and don't move on the chain, coins have limited freedom of movement with the chain halted. Indeed there's a few stable coins where it's doubtful a real chain even exists because nobody actually has access to it and billions of them just get magically airdropped on exchanges every time something crashes.
This isn't an issue. You can simply insure the investment as an investment priced in dollars. If it crashes, you get reimbursed in dollars. The problem is all the sketchy stuff around crypto increases risk, which increases the cost of insurance. So either the cost of insurance becomes absurd, or the regulations needed for insurance to even touch it becomes absurd.
Or and this is just an idea; you insure everything in Dogecoin.
And the FDIC usually doesn't even pay out when a bank fails, instead they have the power to arrange for a different bank to take over the accounts (and debts). Them cutting checks to individuals is pretty rare.
Regulatory power: good actually.
fuck up once and you break your thumb / if you're happy at all then you're god damn dumb
that's right we're on a fucked up cruise / God is dead but at least we have booze
bad things happen, no one knows why / the sun burns out and everyone dies
https://cnbc.com/2022/05/03/tomb-raider-publisher-square-enix-to-sell-iconic-video-game-franchise.html
Like... This whole thing is insane; you have Squeenix selling multiple IPs (one of which was halfway through development) along with multiple studios, staff and multiple brick and mortar properties for a pittance so that you can invest in a market that your consumers loathe and is even now crashing.
Editted for big gif.
I mean, from where I'm standing it's chances only get better at this point; you have a bunch of back catalogue titles that the heads of Square forgot about ages ago having a chance at getting development. Like Christ the last thing anyone did with Legacy of Kain was Nosgoth, a free to play team deathmatch and thief had a "blink and you missed it" release 8 years ago.
Meanwhile Square is just so eager to burn piles of money on a final stage ponzi scheme.
Though the actual reason is "we never could figure out how to make them profitable enough, especially with Avengers and Guardians of the Galaxy bombing, and now we're sick of them." But they couldn't say that because it would lower the sale price.
I mean, even if they weren't making a profit, $300M is still peanuts for the IPs alone.
Choose Your Own Chat 1 Choose Your Own Chat 2 Choose Your Own Chat 3
Again, the removal of Deus Ex from Squeenix's stupid, greedy claws is the best thing to happen to that IP since Human Revolution.
Maybe we'll get a game without their constant desire to monetize fucking everything, at the cost of having a good game.
Probably not - their last annual earnings report came out yesterday and they made a ton of money.
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)
It might be a little bit of that but I'm guessing a chunk of it was a case of "We want to get in on Crypto. But Crypto costs money to get anywhere. We don't want to direct funds to crypto. If we sell these titles No one cares about* for a fire sale price we can get money for crypto!"
*obviously people care about these IPs, and I'm guessing they got a whole lot more then 4 with this aquisition.
Believe it or not the Squeenix Tomb Raiders weren't very profitable. The first one was released in March 2013 but didn't limp across the line of profitability until the end of that year according to Scot Amos, the game's executive producer, at which point the game wasn't selling in large amounts. The games had big budgets ($100 million for the first one), so they needed to do big numbers to break even (five million for the first one).
In that light it's not that surprising Squeenix wanted to cut bait after the Marvel bombs.
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.
pleasepaypreacher.net
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.