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Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

Zamujasa posted:

:airquote: safer stablecoins :airquote:

surely it wouldn't happen again

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Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish
i mean the fundamentals and the bright, vibrant community were all there, it was a fluke last time

Grace Baiting
Jul 20, 2012

Audi famam illius;
Cucurrit quaeque
Tetigit destruens.



qirex posted:

for sale: bored ape, never slurped

knox_harrington
Feb 18, 2011

Running no point.

When I was out running yesterday I passed a kid wearing a t-shirt that said "SLURP Juice" on it. Is that a thing outside of crypto? I felt like I was losing my mind.

njsykora
Jan 23, 2012

Robots confuse squirrels.


it's a fortnite thing, please enjoy this line from the fortnite wiki which i'm pretty sure is multiple secret agent activation phrases

quote:

The Slurp Juice was vaulted on the Chapter 2 Season 1 update. It was vaulted due to the Slurpy Swamp area and Slurpfish to have the same effect as the Slurp Juice, by breaking Slurp Barrels or Trucks or standing in Slurp water.

Vincent Van Goatse
Nov 8, 2006

Enjoy every sandwich.

Smellrose
yeah there's nothing worse than unvaulted slurp juice.

Shame Boy
Mar 2, 2010

why do videogames have both chapters and seasons now

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish
Sunset found her squatting in the grass, groaning. Every slurp was looser than the one before, and smelled fouler. By the time the moon came up she was minting slurp water.

Luigi Thirty
Apr 30, 2006

Emergency confection port.

Shame Boy posted:

why do videogames have both chapters and seasons now

can’t sell season passes without seasons duh

gschmidl
Sep 3, 2011

watch with knife hands

Boxturret posted:

Sunset found her squatting in the grass, groaning. Every slurp was looser than the one before, and smelled fouler. By the time the moon came up she was minting slurp water.

Why my ape smelling like slurp juice?

Powerful Two-Hander
Mar 10, 2004

Mods please change my name to "Tooter Skeleton" TIA.


trucutru posted:

From their website

Why should I give you my money?

Because we pay good interest that we get from investing (in Anchor).

Where does the money to pay the 15-20% Interest come from?

It comes from the people who are borrowing UST

But why would they be borrowing when they have to pay those high rates?

Because they get paid for borrowing, DUH! That's Anchor's "special trick" you moron! imbecile!





Mar 2, Stablegains and the magic of Terra/Luna

Some weeks later:



that's a lot of words that seems to be trying to hand wave away "you give us 10k, we give you 3k" as not being a terrible deal whatever way you look at it

Powerful Two-Hander
Mar 10, 2004

Mods please change my name to "Tooter Skeleton" TIA.


also big lol at "this is our special trick!" Which is totally a thing financial institutions say and is not a big red flag no sir

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe

Boxturret posted:

Sunset found her squatting in the grass, groaning. Every slurp was looser than the one before, and smelled fouler. By the time the moon came up she was minting slurp water.

DashingGentleman
Nov 10, 2009

Powerful Two-Hander posted:

that's a lot of words that seems to be trying to hand wave away "you give us 10k, we give you 3k" as not being a terrible deal whatever way you look at it

I could not help but do an “it cannot possibly be this stupid, they must be explaining it wrong” reading this. So the “10k” you give them can be a volatile meme shitcoin, while the “3k” they loan you is in “dollar equivalents”. It is explicitly expected that you use the loan to buy more baby elon coin.

But, the stability of the “dollar equivalent” now fundamentally depends on the returns generated by the shitcoin “10k” collateral, because this return is the only reason for people to hold the stable coin in the first place.

So the logic is “we have to over-collateralise these loans because the collateral can crash any minute” and also simultaneously “the huge interest on these loans is backed by the guaranteed passive returns generated by the collateral”.

Zopotantor
Feb 24, 2013

...und ist er drin dann lassen wir ihn niemals wieder raus...

DashingGentleman posted:

So the logic is “we have to over-collateralise these loans because the collateral can crash any minute” and also simultaneously “the huge interest on these loans is backed by the guaranteed passive returns generated by the collateral”.

you just have to make sure that the people who know (a) never meet the ones who know (b)

Powerful Two-Hander
Mar 10, 2004

Mods please change my name to "Tooter Skeleton" TIA.


don't forget that if the returns go down you have to post more collateral! It's like the loans are arranged in a pyramid shape you see because......

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
just catching up on the grey thread and saw this mentioned, which I don't think came up here. stopping in to have a sensible chuckle

https://cryptoslate.com/scream-protocol-losses-millions-to-stablecoin-depeg/

quote:

Scream, a decentralized lending protocol on the Fantom network, incurred a $35 million debt after failing to adjust the prices of two stablecoins that lost their peg on its platform.

The DeFi protocol had hardcoded the value of these affected stablecoins, Fantom USD (fUSD) and DEI, to $1, meaning their decline did not reflect on its platform.

Whales holding the coins took advantage of this to drain the protocol of every other stablecoin while depositing the two de-pegged tokens.

Malloc Voidstar
May 7, 2007

Fuck the cowboys. Unf. Fuck em hard.
return 4 is an RNG, return 1.0 is a smart contract

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
I wanna buy, I wanna shill
I wanna $SCREAM till the ticker's still
So put it in all the white papers
I'm not afraid
They can read about butt coin, read about butt coin, oh oh

evilweasel
Aug 24, 2002

Powerful Two-Hander posted:

don't forget that if the returns go down you have to post more collateral! It's like the loans are arranged in a pyramid shape you see because......

Most of what they describe is ordinary finance stuff including the collateral part. The ponzu scheme is in that none of it is actually true.l about the returns it generates.

Mr. Nice!
Oct 13, 2005

c-spam cannot afford



Hammerite posted:

just catching up on the grey thread and saw this mentioned, which I don't think came up here. stopping in to have a sensible chuckle

https://cryptoslate.com/scream-protocol-losses-millions-to-stablecoin-depeg/

loooooooooooooooooooooool


george soros did something similar to all this to the bank of england decades ago to the tune of £1.5bn or something like that because they insisted on maintaining a fixed exchange rate between pounds and one of the german marks.

FUCK SNEEP
Apr 21, 2007




Shame Boy posted:

why do videogames have both chapters and seasons now

games last forever now

Grace Baiting
Jul 20, 2012

Audi famam illius;
Cucurrit quaeque
Tetigit destruens.



Powerful Two-Hander posted:

don't forget that if the returns go down you have to post more collateral! It's like the loans are arranged in a pyramid shape you see because......

...because we want our scheme resting on the firmest of foundations/fundamentals, and structurally pyramids are a very stable shape, financi-physically speaking

Grace Baiting
Jul 20, 2012

Audi famam illius;
Cucurrit quaeque
Tetigit destruens.



frankly it's insulting you might question the configuration shape of our fundamentals and speaks quite poorly of your schooling

bort
Mar 13, 2003

thus, we do not believe you will make it

bort
Mar 13, 2003

please enjoy your time being challenged, socioeconomically.

Chris Knight
Jun 5, 2002

me @ ur posts


Fun Shoe

Chris Knight
Jun 5, 2002

me @ ur posts


Fun Shoe
haha what
https://twitter.com/iamjasonlevin/status/1527316023614918656

https://twitter.com/iamjasonlevin/status/1527316025762426880

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
pray to almighty satoshi (may his teeth ever grow) for my immortal soulbound tokens

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish
new from ether: NMT, non moveable tokens! once you create the toke you can't do anything with it, you can't sell it, transfer it, destroy it, or hide it in any way!

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
SBTs are the ultimate butt coins, because just like you can't sell your butt to someone else. you can't sell an SBT

Paladinus
Jan 11, 2014

heyHEYYYY!!!
Finally, a solution to a problem nobody had.

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
2019: "nocoiner"

2021: "right-clicker"

2023: "soulless"

Hammerite
Mar 9, 2007

And you don't remember what I said here, either, but it was pompous and stupid.
Jade Ear Joe
I sold my Soulbound Tokens to Bitcoin Satan (:gerard:)

ymgve
Jan 2, 2004


:dukedog:
Offensive Clock
I love when a hacker compromises my private keys and now controls my soul

Paladinus
Jan 11, 2014

heyHEYYYY!!!
And what exactly would prevent you from giving full access to your soul wallet to someone else? It can't be tied to your name or passport, as people often change those, so how would you guarantee the soul wallet belongs to the person who has access to it?

E: ????????
https://twitter.com/Ada_weird/status/1528419360250945537

Paladinus fucked around with this message at 18:37 on May 22, 2022

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

Paladinus posted:

And what exactly would prevent you from giving full access to your soul wallet to someone else? It can't be tied to your name or passport, as people often change those, so how would you guarantee the soul wallet belongs to the person who has access to it?

we just need some sort of way to permanently, verifiably tie a wallet to a human, on this, the magic. anonymous ledger

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

Paladinus posted:

And what exactly would prevent you from giving full access to your soul wallet to someone else? It can't be tied to your name or passport, as people often change those, so how would you guarantee the soul wallet belongs to the person who has access to it?

E: ????????
https://twitter.com/Ada_weird/status/1528419360250945537

that's an impressive amount of gibberish, even for a bitcoiner

Paladinus
Jan 11, 2014

heyHEYYYY!!!
SBT. Sock and Ball Torture.

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mrmcd
Feb 22, 2003

Pictured: The only good cop (a fictional one).


This is just public key pair signatures with a bunch of extra stupidity glued onto it.

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