My immediate reaction was the same. I don’t trust the NSA at all, but I’m certainly not going to trust anything this site says when it’s shilling the article as an NFT.
It means you get a little certificate.
That says you own the article.
But you can’t edit it.
But you can show it to your friends.
But not if the site is down.
But the resale is gonna be like, whoa~
Maybe $50 less than you paid for it.
But the sentimentality is worth it.
You should definitely get two.
I don’t think anything about NFTs inherently guarantees their payload is unique. As I understand it, that part is enforced by the exchange, if at all. And there’s nothing stopping you from putting the same payload up on a different exchange. The token itself would be unique, at least within the same chain, but who actually cares about that? :P
I might be nitpicking, but IMHO it is perfectly reasonable to read this as questioning whether the token itself is unique, which is how I read it. The idea of non-unique NFTs then made me write a short quip about it, that’s all.
Next time reddit will cut out the middleman and just sell rugs.
The “fuck spez” rug will be the best seller. When it inevitably gets pulled out from under each buyer they’ll act all shocked, say “better not do that again, spez” and then go right back to standing on it because their friends are all standing on theirs too.
Every time I see a rug pull, I giggle and consider making Rugcoin until I remember that it already exists along with several others, all instantly rugged.
What's this? You're telling me that crypto based on Reddit blockchain points—points from a company that's constantly making rash decisions and removing large features—didn't end well? And people with inside info were able to get out before this concept failed?
Spez and the whole Reddit company culture seem to be very in touch with the whole crypto scam industry. I wouldn’t be surprised if Reddit admins moderate the crypto sub part time and they got in on this.
I get the feeling Spez and other Reddit execs tried for years to make money out of reddit seeing only modest returns, then crypto comes on the scene and with conversations on Reddit being a large part of the success. Crypto grifters get in, pump, dump and cash out rich. Spez and other Reddit execs are looking at each other shocked saying “WTF just happened!? A bunch of folks just used the platform we built to get rich and we’re still not! How can we do the same thing they did?”
Reminds of that article about where crypto was speed running through the history of how all The securities rules got written in the first place. This is, of course, insider trading.
moderator u/Mcgillby. On-chain data reveals that this moderator transferred more than 100,000 MOON over two different transactions on the Arbitrum Nova blockchain, turning it into more than $23,000
If there’s a dollar sign, it’s not play money anymore and the FTC should get involved.
Despite the protests, Reddit's Huffman has persisted in arguing that Reddit is "a living organism, this democratic living organism, created by its users."
No way can a democratic society last under a corporatocracy which, by default, is essentially a dictatorship. And corporatocracy is exactly what Huffman is pushing.
Y’know, it’s highly hypocritical that the article mentions the reason for the API shutoff is to force users to pay for the content while redditcorp doesn’t pay for the content users generate that reddit wants those same users to pay to access.
There was no way that coin was going to sustain itself like Spez claimed it would.
People weren't going to buy crypto coins, just to give content creators medals. And the idea that medals would give more power to these people, except not really and only in polls.
This was such a jigsaw puzzle of shit, before you realized that each community was supposed to make their own coin that could only be used in that community.
At that point, it is a coin trying to be as complex as possible, without really doing anything that you paid money for.
I do think that crypto does have a place in the future, but not as a security, which is the current mindset behind most crypto.
Where others deposit large amounts of wealth into a pile... and that money is supposed to grow infinitely....
That's not how you use a currency like the USD or British pound are used. Money is a tool for us to understand the value of our items that we exchange or our labor that we create.
It has to circulate like a blood flow through an economy. And crypto is treating it more like a blood clot.
I guess people are just tired of the currently rigged stock market. Wall Street and Hedge Funds have made it such that they never lose. It’s not cool that the SEC is not unbiased and even the U.S. Govt has interest in making anybody lose vs. the incumbents.
I think cryptocurrency has the best shot at relevance as a medium for internet tipping. Unlike processing most financial transactions its comparatively quite easy to accept tips and donations via cryptocurrency plus it allows very good portability between exchanges if you setup your infrastructure correctly. Almost everything else people and companies try to use it for appears to be nothing more than a grift of some sort, or at the very least profiting off of someone getting grifted
They are also built on blockchain technology, which can include (crypto) financial rails that enable platforms, users and partners to synergistically profit from platform growth.
Man, dude had a good thing going until he said that bullshit.
But if we just included the blockchain think of the shareholder value we could be generating. We could be decentralizing the blockchain with crypto NFTs in the cloud or whatever.
I’m reading along… web3?? Who is still using that word? Built on the blockchain?! God damn crypto dweebs tricked me into reading 300 words before the took the mask off.
Cointelegraph.com, should have been able to piece it together. I have only myself to blame.
I am also curious. On the one hand, if you tax any gains from it you should also make sure it operates within some legal framework. On the other hand, would anybody investigate a magic bean salesman for insider trading? Would they rather charge them with scamming?
Edit: I just realized your comment wasn’t directed at the IRS specifically. I’ll leave my comment up because I still find the info interesting.
I think the IRS tries to be agnostic to the legality of income. Yes, taxes are set in accordance with law, but their role isn’t make sure you obtained your income legally or ethically… not that I would trust them not to “tattle”.
Here is an overview on the IRS’s guidance for reporting illegal income:
Yup. Anyone who received this non-public information and then traded based on that information is guilty of insider trading. I would also think that reddit has some liability here, as they shared this information to non-employees.
Elizabeth Goitein’s claims are not correct as the amendment is more narrowly defined than she has claimed. But the amendment is still overly broad and an inappropriate overreach of government surveillance.
For those who refuse to read a little bit. The bill says what Goitein has posted. However it also includes a number of exclusions to those conditions.
Those exceptions being:
a public accommodation facility
a dwelling, as that term is defined in section 802 of the Fair Housing Act
a community facility, as that term is defined in section 315 of the Defense Housing and Community Facilities and Services Act of 1951
a food service establishment, as that term is defined in section 281 of the Agricultural Marketing Act of 1946 (7 U.S.C. 1638)
So, this excludes places people live, community provided facilities to access the internet, and any other publicly provided internet point of access, and places that serve food, like starbuck’s wifi.
It is still overly broad, to say the least. Personally I am of the opinion that organizations like the NSA already operate in such a manner without impunity as it is and we are just slowly bringing the law up to speed.
Strange that Snowden, of all people, is assuming the NSA is waiting for this bill to pass to do this stuff rather than them having done it for a very long time already.
Does he really think the NSA isn’t already spying on people through things like public wifi?
My understanding is this will make public operators liable to participate. Like, they have to have infrastructure in place to do the recording for the NSA.
Like, they could mandate back doors in all equipment.
They had me until they started pushing their Web3 bullshit. Crypto bros co-opted the term and kept it away from "real" Web 3.0 tech like the fediverse.
I live in Canada. Our leader of the opposition is a crypto bro. He is currently leading in all polls (mainly because our current PM is unpopular and not because of anything insightful that the opposition has done).
cointelegraph.com
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