it's so insane that half the commercials you see during a sports broadcast now are for Fanduel or whatever while online poker is still in this weird limbo
yeah - some of the players are now getting endorsement deals with the betting companies. kinda completely weird, but maybe pete rose will get into the hall of fame now
― Bruce Stingbean (Karl Malone), Thursday, 12 May 2022 15:59 (two years ago) link
RIP Crypto.com Staples Centre, we hardly knew you
a perfect metaphor for the death of crypto pic.twitter.com/0VhYPfXoRF— 𝐒𝐚𝐬𝐡𝐚🔪 (@tinywienerbabe) May 11, 2022
― Critique of the Goth Programme (Neil S), Thursday, 12 May 2022 17:29 (two years ago) link
rip big man
The Terra blockchain was officially halted at a block height of 7603700.https://t.co/squ5MZ5VDKTerra validators have decided to halt the Terra chain to prevent governance attacks following severe $LUNA inflation and a significantly reduced cost of attack.— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) May 12, 2022
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 12 May 2022 17:35 (two years ago) link
xp: wish that was real.
― peace, man, Thursday, 12 May 2022 18:07 (two years ago) link
astonishing graph. this stuff made it all the way to $90 and is now worth literally a penny
https://i.imgur.com/mUvT7LD.png
― frogbs, Thursday, 12 May 2022 18:57 (two years ago) link
I know it’s uncharitable of me but: have fun being poor, crypto fucks.
― DAMAGED by Black Flat (Boring, Maryland), Thursday, 12 May 2022 18:58 (two years ago) link
I mean under some theories of value it was always worth literally a penny
― Guayaquil (eephus!), Thursday, 12 May 2022 19:03 (two years ago) link
https://i.imgur.com/hQi29bn.png
― frogbs, Thursday, 12 May 2022 19:28 (two years ago) link
buy the dip.
― peace, man, Thursday, 12 May 2022 19:37 (two years ago) link
https://www.afr.com/wealth/personal-finance/the-great-crypto-ponzi-scheme-finally-crashes-20220513-p5al0q
Paywalled, but I had success with refresh then stop loading page in Firefox.
― Peter Greenaway's Fleetwood Mac (S-), Friday, 13 May 2022 12:03 (two years ago) link
According to credible Korean news site Money Today, Do @stablekwon requested to police for emergency protection as investors have been visiting his house. https://t.co/3rUsjUBGCp— Doo | StableNode @GoblinTown (@DooWanNam) May 13, 2022
― mark s, Friday, 13 May 2022 14:37 (two years ago) link
pretend money leads to real life mob
― lag∞n, Friday, 13 May 2022 14:39 (two years ago) link
Crypto is not pretend! Don't you get it? It is going to make transactions faster! Just you wait and see, mister.
― peace, man, Friday, 13 May 2022 14:56 (two years ago) link
i mean all money is pretend
this pretend money is also unregulated
(laws are also made up)
― mark s, Friday, 13 May 2022 14:59 (two years ago) link
money has an army
― lag∞n, Friday, 13 May 2022 15:01 (two years ago) link
thats right
― mark s, Friday, 13 May 2022 15:03 (two years ago) link
Yeah, but people without no money have a free Twitter account
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 15:04 (two years ago) link
I think the one, single prognostication I ever had was in grad school, and a seminar was working with an old emeritus prof on a book he was writing about how the internet was going to be a great boon for democracy. This was just before Arab spring, etc. The smart thing that I did was when we went around the table I said “nooooooooooooooooooo!”
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 15:06 (two years ago) link
lol
― lag∞n, Friday, 13 May 2022 15:07 (two years ago) link
of course the real big story no-one is talking about here is how this is going to have a serious impact on Crawley FC. They are going to become the first UK league club since the days of horses and carts to pay their playing staff in units of less than a penny.
― calzino, Friday, 13 May 2022 15:14 (two years ago) link
the one, single prognosticationMeant to thrown the word “accurate “ in there because I have been completely wrong thousands of times. And even on this one, I’m sure the Internet will start doing unbelievable things for democracy soon and even Nelson’s “ha-ha!” will be a little brighter and more supportive than it was before
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 15:21 (two years ago) link
here's that one stock everyone's talking about, the one where if you own it you're actually a giant fucking asshole, regardless of the price:
https://i.imgur.com/U86RNkv.png
it's back at 14 cents. so...if you bought it at less than a cent, or wherever it was a few hours ago, and you sold it now, at 14 cents, if you can find another sucker to buy low, wouldn't you be making a 1400% profit? or am i misunderstanding how the entire thing works
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 16:11 (two years ago) link
the one where if you own it you're actually a giant fucking asshole
that would be buttcoin i imagine
― Guayaquil (eephus!), Friday, 13 May 2022 16:24 (two years ago) link
could you say what it is instead of trying to make people guess?
― peace, man, Friday, 13 May 2022 16:26 (two years ago) link
Terra (UST) the one that has been in the news for collapsing
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 16:40 (two years ago) link
oh shit, that was another terra. the luna one is, indeed, dead as a doornail!
https://coinmarketcap.com/currencies/terra-luna/
― Bruce Stingbean (Karl Malone), Friday, 13 May 2022 16:44 (two years ago) link
they are kinda connected
On Terra’s own blockchain, UST has a symbiotic relationship with its satellite asset luna, which can be used to earn cryptocurrency rewards. It was always possible to exchange UST for luna and vice versa, and the blockchain’s own code always made sure that terra traded at a dollar a unit, while luna’s varying price was determined by algorithms keeping an eye on the market.That was supposed to keep its price stable by piggybacking on the work of arbitragers, investors who attempt to profit from market inefficiencies. If a sell-off of UST on cryptocurrency exchanges threatened to lower its price below $1, the idea was that smart arbitragers would rush to buy UST, and use them on its native blockchain to buy luna at a discount—propping up UST’s price in the process.If the opposite happened and UST’s price zoomed over $1 on crypto marketplaces, people would use their lunas to buy one-dollar-a-unit USTs on Terra’s blockchain and resell them on other platforms, bringing the price of UST down. It is a clever architecture. It is also one that did not and could not work. “It is a bit like perpetual motion machines. People wanted to figure out how to get free energy. And these designs were complicated—they would have pulleys, they would have magnets, they would have levers,” Muci says. “With algorithmic stable coins, it's a little bit the same idea.”
That was supposed to keep its price stable by piggybacking on the work of arbitragers, investors who attempt to profit from market inefficiencies. If a sell-off of UST on cryptocurrency exchanges threatened to lower its price below $1, the idea was that smart arbitragers would rush to buy UST, and use them on its native blockchain to buy luna at a discount—propping up UST’s price in the process.
If the opposite happened and UST’s price zoomed over $1 on crypto marketplaces, people would use their lunas to buy one-dollar-a-unit USTs on Terra’s blockchain and resell them on other platforms, bringing the price of UST down. It is a clever architecture. It is also one that did not and could not work. “It is a bit like perpetual motion machines. People wanted to figure out how to get free energy. And these designs were complicated—they would have pulleys, they would have magnets, they would have levers,” Muci says. “With algorithmic stable coins, it's a little bit the same idea.”
https://www.wired.co.uk/article/terra-luna-collapse
― mark s, Friday, 13 May 2022 17:00 (two years ago) link
that Financial review article was really good
― corrs unplugged, Saturday, 14 May 2022 07:49 (two years ago) link
there’s a youtube video called “line goes up” that people say is good but it’s 2hrs long; tldw
― Tracer Hand, Saturday, 14 May 2022 10:20 (two years ago) link
it's great, I've watched it twice!
― buffalo tomozzarella (ledge), Saturday, 14 May 2022 10:23 (two years ago) link
I often wonder "how long do bubbles take to burst," and the answer ALWAYS seems to be "just a few months past when I get exhausted by waiting and stop giving a shit."
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:14 (two years ago) link
I feel a lot of conflicted emotions over the whole "regular people are getting screwed" "but a lot of them are those assholes" thing.
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:16 (two years ago) link
I just talked a friend out of investing in a "defi" crypto-lending thing she sent me info about. I was like "can you explain to me what this actually is or how it works?" and she couldn't, so I said to please not invest in something she couldn't understand. And this was an educated person who actually understands investments pretty well, so I guess anyone can be vulnerable to it.
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:17 (two years ago) link
Like a few weeks ago, right before the crash
― longtime caller, first time listener (man alive), Saturday, 14 May 2022 16:18 (two years ago) link
does ilx have a character limit per post now?
― Yerac, Saturday, 14 May 2022 21:03 (two years ago) link
depends
― Society for the Preservation of (cat), Sunday, 15 May 2022 01:32 (two years ago) link
on
the
strength
― Society for the Preservation of (cat), Sunday, 15 May 2022 01:33 (two years ago) link
of
characters
(sorry)
(crypto sucks btw)
― Society for the Preservation of (cat), Sunday, 15 May 2022 01:34 (two years ago) link
i tried watching line goes up again and i don’t understand how anybody handles that rapid-fire singsong youtube explainer voice for more than 5 minutes at a time, it’s completely unbearable to me
― Tracer Hand, Sunday, 15 May 2022 08:39 (two years ago) link
So far, there are no indications that Mr. Bukele plans to change course. On Monday, he said on Twitter that El Salvador bought 500 bitcoin at an average price of $30,744. “El Salvador just bought the dip!” he added. Bitcoin traded at $29,745 on Friday.
what’s that word for when something is funny yet also incredibly horrible
― Society for the Preservation of (cat), Sunday, 15 May 2022 12:03 (two years ago) link
tragicomic or sad lol
― lag∞n, Sunday, 15 May 2022 12:20 (two years ago) link
there is so much that is bad about that guy that i can't even lol at him
― towards fungal computer (harbl), Sunday, 15 May 2022 13:15 (two years ago) link
Miami's mayor-backed MiamiCoin https://t.co/BfyteN1oTt— Nathan Bernhardt (@jonbernhardt) May 16, 2022
― lag∞n, Monday, 16 May 2022 16:24 (two years ago) link
CZ admits Binance lost $1.6 billion due to Terra collapse in bizarre tweet threadsMay 16, 2022https://t.co/hQqBytHWbp pic.twitter.com/duDc2YXTr2— web3 is going just great (@web3isgreat) May 16, 2022
1/ Statement analysis is one of those "soft skills" that is important in life. It served me well as an FBI Agent, and continues to inform how I make decisions. Some friends highlighted a thread recently which made my antenna go up. BLUF: I'm not accusing anyone of a crime, but... pic.twitter.com/HRf2vPBwdN— James Harris (@jimeharrisjr) May 16, 2022
― lag∞n, Monday, 16 May 2022 16:40 (two years ago) link