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Buttcoin - The Crypto-Critical Comedy GODL Mine
awful.systems
By popular local demand, we've started a Buttcoin over at awful.systems. I'm not sure federation to/from kbin.social works without glitches yet, but here's hoping, cross fingers etc. We do know it federates OK to other Lemmy instances and some Mastodon instances.
dappgambl.com
> Of the 73,257 NFT collections we identified, an eye-watering 69,795 of them have a market cap of 0 Ether (ETH). > This statistic effectively means that 95% of people holding NFT collections are currently holding onto worthless investments. Having looked into those figures, we would estimate that 95% to include over 23 million people who’s investments are now worthless.
Another one bites the dust. The NFT startup Recur said on Friday that its Web3 platform is winding down—unable to weather the chills of crypto winter despite hosting the IP of several big brands like Hello Kitty and Nickelodeon. Over the next several months, Recur’s platform will steadily lose its core features, the firm said in a blog post. That includes the ability for users to withdraw NFTs from Recur, cash out stablecoin balances, and trade collectibles on Recur-hosted marketplaces. “This decision has not been an easy one,” the company said on Twitter, citing “unforeseen challenges and shifts in the business landscape.” Recur’s announcement captures recent headwinds in the NFT space as companies navigate a downturn in the popularity of digital collectibles. Last July, Recur embarked on a “jet-setting NFT experience” with Hello Kitty and Friends, only for its ambitions to be grounded a little more than a year later. That same July, Recur noted there was “unprecedented demand” for its TV Packs that contained profile-picture (PFP) NFTs of Nickelodeon characters like Tommy Pickles from “Rugrats.” Pack openings will be disabled in November, Recur said on Friday. Founded in 2021, Recur billed itself as a company that offers other businesses Web3 “building blocks.” Its platform could be used for creating in-game assets, loyalty programs, and digital collectibles that leverage NFTs, according to its website. Recur’s move comes not long after Nifty’s, a social network turned Web3 creators portal, also said it was shutting down. Nifty’s had secured big-name media titles as partners too, such as “The Matrix” and “Game of Thrones.” With over 380,000 NFTs minted through Recur, the firm said it has changes in store to ensure that various digital collectibles will live on. Recur said metadata and media for its NFTs will be migrated to the InterPlanetary File System (IPFS), a peer-to-peer file-sharing network built by Protocol Labs. Other assets will be hosted on Filecoin’s network, Recur added. In December 2021, Recur offered a Recur Pass during a limited, 24-hour sales window. Sold as an NFT for $300, the pass could be resold and offered holders early access to future NFT drops among other benefits. Last February, a Recur Pass sold for $88,888, Recur said in a statement on Twitter. Today, the cheapest Recur Pass listed on OpenSea currently asks for 0.001 ETH (about $1.69). In late 2021, Recur said it was valued at $333 million after it announced a $50 million Series A funding round. The round was led by Digital, an investment fund backed by the family office of New York Mets majority owner and billionaire hedge fund manager Steve Cohen. Other notable names had participated in a $5 million seed funding round earlier that year, such as investor and NFT creator Gary Vaynerchuk, Gemini’s Tyler and Cameron Winklevoss, and Ethereum co-founder and ConsenSys founder Joe Lubin. (Disclosure: ConsenSys funds an editorially-independent Decrypt.)
arstechnica.com
cross-posted from: https://lemmy.world/post/3351001 > The Sotheby's auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.
amycastor.com
* Sam Bankman-Fried is back in a cell. * The SEC asks permission to appeal the very dumb and bad Ripple ruling. * Prime Trust files for Chapter 11. * Who owns TrueUSD, who’s suing who. * Worldcoin falls afoul of data protection. * Richard Heart’s Hex falls to the SEC. * Another US bank fails — but it’s okay, it was just scammed!
arstechnica.com
cross-posted from: https://lemmy.world/post/3201243 > Sam Bankman-Fried is going to jail::Judge also denied SBF's request to delay jail time.
youtu.be
We interview YouTube game reviewer "Jauwn" - whose channel specializes in the sadistic process of wading through all the "web3" NFT games trying to find out ...
teddit.hostux.net
Alternate Reddit link used because I don't want to give them traffic.
amycastor.com
Ivermectin, it's a hell of a drug
www.youtube.com
This is the official unofficial Bitcoin Miami 2023 Conference Hilight Reel.Be sure to watch to the end and see what Michael Lewis, "Moneyball" author and the...
fortune.com
Another thing to note, the nominal co-author of the book, Jacob Silverman, seems to have scrubbed his profile of any connection to the book. Guess being a bad trader does not a good author make!
decrypt.co
Celsius and its former CEO have been charged with a host of fresh allegations from four different government agencies Thursday morning.
fortune.com
This is good for Bitcoin for... Reasons.
open.substack.com
Always a great newsletter.
Crypto is the most convenient way to help fund dissidents and protestors living under fascist rule for most of the world. It's comical to observe this series of events!   
davidgerard.co.uk
Latest piece from Amy Castor and David Gerard!
calckey.social
If you want to get a sense of scale of the bot problem at [#twitter](https://kbin.social/tag/twitter), check this out what I found. TLDR: someone has a (malfunctioning) bot army that can give posts at least 64000 likes in an instant, without triggering any serious spam detection or bot removal. The problem is in this tweet: [https://twitter.com/stretchmikep/status/1671942731571273729](https://twitter.com/stretchmikep/status/1671942731571273729) A few things stand out: - when i first noticed this, the tweet was at 64k likes, 64k retweets and 2k views. Which, well, lol. - reading the context of the thread is even more amazing, since it is quite deep into a conversation, where all the previous tweets have 0 likes - Originally the tweet had 64k likes, now it has 63k. This suggests that some minor amount of spam removal happens - the account to which it happened seemed completely unfazed by this?? My guess is that a crypto spam network has a trigger to boost pro crypto tweets, and that it triggered on the 'long BTC' part. However, it probably malfunctioned at had the entire network boost the post, instead of just a few accounts for plausible deniability. So if you see high engagement numbers on twitter, remember that someone has the ability to add at least 64k likes to any tweet, without it being detected. If you can get away with doing it so blatantly, imagine how easy it is to get away with adding a few thousand likes to a post that is already gaining traction organically. 📎
www.youtube.com
We "Reality Check" Robert F. Kennedy Jr's keynote speech at the Bitcoin Miami 2023 Conference. This presidential candidate constructs some absurd slippery s...
www.tvinsider.com
Plus, was 2-day champ Ben Goldstein able to secure a victory?
www.youtube.com
This is an award-winning documentary that pulls no punches and goes into detail on what blockchain is, how it works, and all the other crypto schemes and how they inter-relate. The second half of the documentary goes into examining specific claims made by crypto proponents. A must watch for anybody who wants to fully understand crypto technology.
www.theonion.com
BOSTON—Stressing that the move would help keep digital currencies liquid through the coming year, crypto leaders called for an infusion of 20 million dopes Thursday to stabilize the market. “We’re calling for millions of bozos to be infused into the crypto market to stave off collapse and assure investors their money…
protos.com
> > > A crypto ATM maker and a Texas sheriff’s department are locked in a fierce legal battle after police seized cash from one of the company’s machines and handed it back to an 82-year-old woman who had been scammed into converting $15,000 into bitcoin. > > This is great. More of this please.
cross-posted from: https://lemmy.ca/post/703141 > I am very excited about the possibility of the Fediverse, and the potential for many experiments in instance governance. A problem that all instances must content with is trolling and spam. It seems very difficult to impose a cost on these bad actors without harming honest users as well. Either instances have minimal signup friction and are vulnerable to being overwhelmed with bad actors & defederated ([see the recent defederation decision from Beehaw](https://beehaw.org/post/567170)), or they present frustrating barriers such as manual approval or waitlists for folks who just want to have fun > > A possible solution comes from the blockchain space, which has been dealing with anonymous bad actors since its inception. Many blockchains and blockchain apps require users to stake some asset in order to gain certain privileges (basically a deposit). If the user is determined to be a bad actor, they lose some or all of their stake. > > An instance could be integrated with a smart contract to manage membership could be very effective at dissuading trolls and spammers. A user could stake a small amount of money (say $10) in order to create an account on the instance. This could be done very quickly and would require no manual approval from admins. If the admins determine they are acting poorly, they could ban the user and slash their funds. If an honest user decides they don't want to stay on the instance, they could delete their account and recover their deposit. > > I've got a prototype smart contract for this. Would be interested in working with someone on this if there's anyone with experience with the instance management
www.coindesk.com
Now, dear The Node reader, what does all this have to do with crypto? Or how can it help you earn money? Well, depending on how the situation shakes out it could have a few implications for crypto as a social movement. Obviously, the ability for a company to make unilateral decisions that severely affect users is a Big Plus for a movement that is advocating for transparency, open access and user control. Perhaps an enterprising lad, laddess or ladx could build the next Reddit, only decentralized.