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HappyHippo
Nov 19, 2003
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one of my favorite lines written about mcafee

quote:

John McAfee has never been convicted of rape and murder, but—crucially—not in the same way that you or I have never been convicted of rape or murder.

(from this https://breakermag.breaker.io/trapped-at-sea-with-cryptos-nouveau-riche/, which is an amazing read)

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HappyHippo
Nov 19, 2003
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Jonny Nox posted:

Man, that dude with the sign has an immaculately punchable face.

I'm glad France dissapeared him.

it's a woman

HappyHippo
Nov 19, 2003
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this reminds me of ubik where everything's coin operated and the guy can't even afford to open his own door

HappyHippo
Nov 19, 2003
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lol "potential $25k"

i guess it sounds better than "I flipped $800 in NFTs to $0"

HappyHippo
Nov 19, 2003
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"what the gently caress is a 'nocoiner'?"

HappyHippo
Nov 19, 2003
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A bitcoin mining power plant secretly set up shop in Alberta. Now, it's being forced to shut down.

quote:

When residents of an affluent estate community in Alberta started hearing noise from a nearby power plant, they didn't expect their complaints of sleepless nights would lead to a months-long investigation that would find the company had set up operations without approval.

Now, Link Global, the company behind the bitcoin mining operation, is being ordered by the province's utility commission to shut down two plants until it can prove it's allowed to operate — a move the company says will cost jobs and cause oil and gas infrastructure to sit dormant.

...

"We have a hot tub in the back. We'd go sit and go, hey, what is that airplane landing in our field?" Haas said.

...

Link Global, based in Vancouver, had set up four 1.25 MW gas generators at the site, pulling power from a dormant natural gas well owned by Calgary-based company MAGA Energy.

...

There was just one problem. The company hadn't notified neighbours of its plans. Or the county. Or the provincial utilities commission — which allows power plants to be set up without approval if they meet several conditions, including only generating power for the company's own use and proving the plant has no adverse effects on people or the environment.

...

AUC enforcement investigators wrote that Link Global initially claimed it had an "extensive history" of consultation with the AUC, Sturgeon County and neighbouring residents — but that the company provided no evidence to back that up. A month later, in June, the company finally acknowledged it didn't notify or consult local stakeholders, as it said it was "unaware of the statutory and regulatory requirements."

Link Global had told the AUC in a January letter that it had done a noise impact assessment that found no change between the plant being turned on and off.

But it didn't provide a copy of that noise assessment — instead, it just gave a link to a non-functioning online folder followed by the note "(SORRY LINK IS NOT WORKING)." It also provided a sheet stating the company meets U.S. emission standards but initially provided no evidence as to whether it met Alberta standards.

...

The company temporarily shut down operations following the AUC order and began operating only during daytime hours (it took a few days to wind things down, another item of contention in AUC enforcement filings). Link Global also implemented noise abatement measures such as a wall of straw bales and exhaust baffles.

...

But Jenkins, who has a background in forestry and international clean energy development, argues the operation can provide an environmental benefit.

"You're using underutilized or unused power, or even retooling and retasking existing infrastructure. We wouldn't go in and put a new well in," he said.

...

On Friday, the AUC ruled that both the Sturgeon County and Kirkwall plants were in contravention of the rules.

They have to shut down operations immediately and can only resume once Link Global has proven that it's either obtained permission under the province's environmental protection act or confirmation that permission is not required.

The company will also have to pay penalties — a $50,000 to $75,000 fine, reduced by up to 50 per cent because Link Global admitted to breaking the rules.

"The commission does not take lightly that Link Global began operating multiple power plants in a jurisdiction with which it had no familiarity, and failed to conduct a basic level of due diligence to understand the regulatory regime in which it was operating," the commission ruled.

...

More penalties could be on the way. The commission will now review whether specific sanctions should be imposed against Link Global for operating without approval — a decision on that is expected this fall.

HappyHippo
Nov 19, 2003
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Shame Boy posted:

i really hope they chose that name before like, 2015

quote:

MAGA Energy Ltd. (Make Alberta Great Again) is a private oil & gas production company based in Calgary, Alberta, with 20 employees. Current total production is approximately 1800 BOE/day, equally weighted between oil, gas, and natural gas liquids. The total well count of MAGA is approximately 250 with 95 producing wells. MAGA’s land position consists of 100 sections (64,000 acres), the majority of which carry a 100% working interest.

Edit: Also WHOIS says they registered that site in 2019, so yeah

HappyHippo fucked around with this message at 17:00 on Aug 25, 2021

HappyHippo
Nov 19, 2003
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Chalks posted:

what's the point of assigning people random positions in a queue? isn't that just giving the thing to people at random without having a queue?

this is becoming more popular for things that aren't stupid too. i think the idea is everyone who shows up before a certain time is assigned a random position in the queue, and everyone after that time goes at the end. it prevents people from just refreshing the page endlessly trying to catch it right as it goes live

HappyHippo
Nov 19, 2003
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i was in a coffee shop last week and there was a dude telling the owner that he should accept bitcoins, talking about the lightning network and discussing his own plans to open a coffee shop that only accepts bitcoins

HappyHippo
Nov 19, 2003
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Shageletic posted:

Seeing the pod’s nascent form, I felt a boringly pragmatic urge to ask Romundt what happened if, once afloat, you needed to buy a pint of milk. My question seemed to miss the point, too wedded to old-fashioned notions of locality and human connection. The Pods had been designed to have a hatch in the roof, Romundt said. He was talking to some drone creators and imagined people flying to their pods independently, landing on the roof and entering through the hatch. Perhaps that’s how you’d get your milk.

the pods look like they'd make a cool hotel or something but yeah maybe some sort of boat access would have been a good idea for your ocean house?

HappyHippo
Nov 19, 2003
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Shame Boy posted:

on some of the designs they show a door at some position in the "stem" thing so presumably you could drive a boat up to that, when the tide is at the right level (they're fixed to the bottom remember!) and the ocean is perfectly calm and flat like in that picture

maybe they need to go all supervillain and have submarine access instead

HappyHippo
Nov 19, 2003
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Walmart says crypto payments announcement is fake. Litecoin tumbles after spike

quote:

Cryptocurrency litecoin gave up a 20% gain and tumbled back to earth following a fake press release sent out by GlobeNewswire that referenced a partnership with Walmart.

Walmart spokesman Randy Hargrove confirmed the press release is not authentic. He also said the retailer has been in touch with the newswire company to investigate how the false press release got posted.

https://twitter.com/josephmdurso/status/1437433318631477250

HappyHippo
Nov 19, 2003
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super fart shooter posted:

I have to admit when the nft thing first came along, i was a little baffled and felt like i was losing the plot... but now that they've quickly evolved into a less obfuscated form that is plainly just a cryptocurrency, but "coin" is replaced with "lion" or "ape", it now makes perfect sense to me

yeah they've basically found a way to speed run icos

who needs a "whitepaper" when you can just generate a bunch of lovely art and hype that

HappyHippo
Nov 19, 2003
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Chalks posted:

nice bloomberg article about tether being a giant fraud:

https://www.bloomberg.com/news/features/2021-10-07/crypto-mystery-where-s-the-69-billion-backing-the-stablecoin-tether

doubt it'll change anything but seeing big news outlets doing first hand research into this stuff is reassuring

this article has some good lines

quote:

It was hard to believe that people had sent $69 billion in real U.S. dollars to a company that seemed to be practically quilted out of red flags.
...
Now Pierce wears loud hats, vests, and bracelets, like Johnny Depp in Pirates of the Caribbean, and speaks in riddles, like Johnny Depp in Charlie and the Chocolate Factory.
...
Then 50, Devasini was almost elderly by cryptobro standards.
...
Its founder, John Betts, whom I met in Manhattan, puffed on a vape pen as he explained that Tether was a legitimate business

HappyHippo
Nov 19, 2003
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these read less like satire and more like fake reviews to generate demand

HappyHippo
Nov 19, 2003
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fisting by many posted:

i think this was even a thread title before but this quote popped up again

https://twitter.com/FoldableHuman/status/1446557189338898435

upthread i found this gem
https://twitter.com/FoldableHuman/status/1445999473847517184

HappyHippo
Nov 19, 2003
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another good one from that thread:
https://twitter.com/FoldableHuman/status/1448411095824175105

there was some sort of exploit. the solution was to use... a centralized api. the developer promises to move this validation logic onto the blockchain "later today"

there's a bit of a theme with crypto where all the decentralized stuff has to be progressively replaced with centralized stuff to make the blockchain useful.

HappyHippo
Nov 19, 2003
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Mercury_Storm posted:

that sounds an awful lot like a ponzi scheme to me

seems more like a pyramid scheme

HappyHippo
Nov 19, 2003
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pining for the days of the tungsten standard

HappyHippo
Nov 19, 2003
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price of bitcoin is propped up by tether which is backed by bitcoin, nothing wrong with this

HappyHippo
Nov 19, 2003
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it's only a problem if there's a bank run, and crypto bros never bank run, they hodl, so it's fine

HappyHippo
Nov 19, 2003
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KnifeWrench posted:

the words "lend" and "mint" don't feel like they should be interchangeable, but they're being used that way in that passage?

it's both i think? Celsius Network is borrowing usdt, and putting up it's bitcoin as collateral. but tether doesn't maintain some stockpile of usdt, they mint it at will when they want it, and then destroy it when it's returned. but that's shady as gently caress on tether's end: not only is the tether not backed by actual money, all they have is collateral on a loan; generally you can't just call in a loan when you feel like it, so in the event of a bank run they can't liquidate the collateral.

HappyHippo
Nov 19, 2003
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Shame Boy posted:

so uh, what stops me from just submitting a series of numbers to this network and saying "yeah these are my eyeball numbers i'm a person give me money"? is the answer "nothing"? because i think the answer is "nothing"

it is and it's the same loving problem with every blockchain "solution" that tries to map to real world objects: the blockchain only records the movement of numbers, it can't do the hard part which is guaranteeing that those correspond to anything in the real world

HappyHippo
Nov 19, 2003
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KnifeWrench posted:

lmfao I thought this was a humorous paraphrase but it's a direct quote

HappyHippo
Nov 19, 2003
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Shame Boy posted:

so yes, this is all privately controlled and the only way to access the network is via the Orb, fantastic

classic crypto pattern: solve all the problems crypto introduces with centralization; claim it's decentralized anyway because it's "on the blockchain"

HappyHippo
Nov 19, 2003
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FAUXTON posted:

starboard citizen

HappyHippo
Nov 19, 2003
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Ape look out for ape

HappyHippo
Nov 19, 2003
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FAUXTON posted:

safu means stolen and gently caress you

The Something Awful Forums > Discussion > Serious Hardware/Software Crap > YOSPOS > buttcoin: safu means stolen and gently caress you

HappyHippo
Nov 19, 2003
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Qwertycoatl posted:

remember that dao from last week that was going to buy the consititution, and failed? have a followup

https://www.vice.com/en/article/qjb8av/constitutiondao-aftermath-everyone-very-mad-confused-losing-lots-of-money-fighting-crying-etc

i love this

quote:

ConstitutionDAO accepted only ether, the token on Ethereum. For someone to convert USD to $PEOPLE tokens, the process had several steps. First, we had to buy Ethereum on an exchange (we used Coinbase). We bought $200 worth of Ethereum. Coinbase took a $3 fee. Then, we had to send the Ethereum from Coinbase to a MetaMask crypto wallet. To do this, we had to pay a $12 network fee. Then, we had to send the Ethereum from MetaMask to Juicebox. So-called "gas" fees vary wildly and depend on how busy the Ethereum network is at any given moment and the complexity of the transaction. Right now, gas fees on Ethereum are very high, and a highly complex operation could end up costing hundreds of dollars in fees. In our case, we paid a $75 gas fee to contribute roughly $75 to the project. Of the initial $200 we bought in ETH, $90 was eaten up in fees simply to donate to ConstitutionDAO.

HappyHippo
Nov 19, 2003
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Hammerite posted:

I can't make the numbers add up. They started out with $200. They paid $3 to Coinbase, leaving them with $197. Then they paid a $12 "network fee", leaving them with $185. Then they paid a $75 "gas fee", leaving them with $110. But it says that only $75 ended up at the destination? Where did $35 go

yeah i'm guessing they just didn't spend that $35. maybe they could only buy the tokens in certain units, or maybe they only bought $75 because you can't predict how much the gas will cost? i've never done this poo poo myself obviously.

HappyHippo
Nov 19, 2003
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Boxturret posted:

has there ever been a successful dao or have they all been dead on arrival?

dao: dead, arrival on

HappyHippo
Nov 19, 2003
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Xarn posted:

What loving bars does this person visit?

Bartenders are naturally averse to crypto bros and try to ignore them

HappyHippo
Nov 19, 2003
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chestnut santabag posted:

Bart Sells His Soul

the day after that episode aired all the kids in my class were trying to sell their souls

HappyHippo
Nov 19, 2003
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as if coiners would listen to some fiatist

HappyHippo
Nov 19, 2003
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Boxturret posted:

if they fork the ether blockchain doesn't that mean that nfts get duplicated too?

they absolutely do and it's one of the reasons nfts are dumb

along with all the other ones

HappyHippo
Nov 19, 2003
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who is this non-verified?

HappyHippo
Nov 19, 2003
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wikipedia is like one of the best websites on the internet. yeah it obviously has a ton of flaws but it's an immensely useful resource.

HappyHippo
Nov 19, 2003
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Eeyo posted:

it’s weird to me the guy is an objectivist. like would ayn rand approve of just giving away the “work” of contributing to wikipedia for free?

yeah this is really throwing me, the whole concept of wikipedia violates everything objectivism stands for

HappyHippo
Nov 19, 2003
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Shageletic posted:

Looked up the twitter handle of the person giving this guy his info about influencers and NFTs, and they're doing a great job showing the life cycle of some of these projects

https://twitter.com/zachxbt/status/1410356555124518920

this twit thread gave me a great new term: "ponzi tokenomics"

https://mobile.twitter.com/zachxbt/status/1410356573663383560

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HappyHippo
Nov 19, 2003
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whoever made second life played the media/journalist types like a fiddle, they bought in hard

and then it fizzled.

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