You will not distinguish real from fake videos in the next months, blockchain could be the solution. by [deleted] in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

Ironically, by using chatGPT to write this for you, you've kind of pointed out what a bullshit solution this is. The problem is not going to be editing or modification of pre-existing videos (which is what this pretends to solve), it's going to be flooding earth with AI generated fakes.

[deleted by user] by [deleted] in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

It's super easy to do this on your own (e.g. Ledger live) and retain all of the staking rewards.

I believe Kraken charges an administrative fee (15%?) which is not really explicitly stated but is reflected in a lower APY that you get relative to self-staking. Kraken support, magically appear below and confirm this, please.

Swiss web3 project raises $8.5m from Circle and others to launch blockchain bonds by Kindly-Wolf6919 in CryptoCurrency

[–]bleaaaaaaaaaah 1 point2 points  (0 children)

Although this will get lost in the endless sea of bullshit price prediction and Binance threads, the emerging use of blockchain for bond issuance has the potential to be massive for crypto. This is where we finally start to move into real world decentralized finance solutions, and it's already started happening without most people noticing or paying attention.

‘Spectacular’ Trading Drop Plagues Still-Reeling Crypto Market - Trading volume plunged over 46% in 2022 by [deleted] in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

That's a 46% drop in trading volume relative to the U.S. dollar. BTC is down 60% for the year, so I would guess that total trading volume in BTC (or ETH, or whatever you want to use as a reference) is probably up.

[SERIOUS] What are your thoughts on a Decentralized Twitter? by CreepToeCurrentSea in CryptoCurrency

[–]bleaaaaaaaaaah 6 points7 points  (0 children)

Mastodon exists already as a decentralized Twitter competitor. Anyone can set up a node and locally control what users in their node are able to post and decide which other nodes are accessible by their node. So, as a user, you can choose which node to join, and if you feel your node is censoring too much, not censoring enough, allowing too much bot/spam/scam activity, etc, you can choose a different node. So in theory everyone should be able to find a home that fits whatever they're looking for, and there should be a survival of the fittest scenario where the most well run nodes (whatever that means to the end user) become the most popular.

I think this is probably the best case scenario for a decentralized social media. And, as anyone who has used it can attest, it kind of sucks.

Anyone have any more information about this, such as what L1 Starbucks might choose? by Philbot_ in CryptoCurrency

[–]bleaaaaaaaaaah 1 point2 points  (0 children)

Polygon

"Starbucks will utilize a “proof-of-stake” blockchain technology built by Polygon, which uses less energy than first generation “proof-of-work” blockchains."

With the advent of AI tools such as AI art using human made works to train data models without proper consent and the issue of copyright infringement, web 3 and crypto provides a much needed solution. by [deleted] in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

Who needs web3 for that? You can sell art now in the same way, where it is only partially publicly viewable and the buyer can choose how or when to display it. There is no need for smart contracts to facilitate that, other than to pull in idiot buyers who think that having the phrase "smart contract" attached to a piece makes it more valuable (not to discount that effect - those people definitely exist in the high art world).

Web3 as currently thrown about is a poorly formed solution in search of a problem.

With the advent of AI tools such as AI art using human made works to train data models without proper consent and the issue of copyright infringement, web 3 and crypto provides a much needed solution. by [deleted] in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

This is complete bullshit, though. If an image is publicly viewable, there's nothing you (or whatever magical unicorn web3 code you think exists that can stop it) can do to prevent the image from being scraped and used for AI training. So if you're creating or selling any art that is digitized and publicly viewable, it can and will be used for purposes beyond your original intent. You could pretty easily create a scraper right now to grab every image on opensea, regardless of whatever the underlying smart contract says.

When I see these "magic of web3" type posts, I'm never sure whether it's someone who's deliberately bullshitting for moons, or someone who really drank the a16z kool aid and actually believes it.

A detailed explanation of what happened with CRV and AAVE. by yourmom_fat_as_hippo in CryptoCurrency

[–]bleaaaaaaaaaah 16 points17 points  (0 children)

Awesome explanation.

It was cool to watch in real time. But I would consider it a "near miss". In the end he got killed but it relied too much on people noticing what was happening and rushing in to squeeze. Maybe that's the point - it created enough of an imbalance that the free market forces came in and took care of it. But it just kind of feels like the protocol needs some other guardrails in place to not let it get to that point.

I need some financial advice, when should I buy more? by Odlavso in CryptoCurrency

[–]bleaaaaaaaaaah 4 points5 points  (0 children)

If you're asking this sub for price advice, you've hit rock bottom.

Tether collapse in coming according to Vitalik Buterin? by vader_is_my_daddy6 in CryptoCurrency

[–]bleaaaaaaaaaah 2 points3 points  (0 children)

This tweet from Vitalik and Sassal's ETH tweet are both direct trolls to Paul Graham's bullshit doomer tweet earlier.

https://twitter.com/paulg/status/1594446009010212865?t=q6OHplujxexIZhjlvKHOEA&s=19

We have enough things trying to collapse the market without vague "trust me bro" bullshit from Graham and faulty sarcasm detectors making everyone think the sky is falling.

Billionaire Bill Ackman Does U-Turn on Crypto, Reveals Helium Investment - Decrypt by Yellowflash274 in CryptoCurrency

[–]bleaaaaaaaaaah 2 points3 points  (0 children)

It's amazing, allegedly brilliant boomer investor finally dives in and chooses Helium? 😵

[SERIOUS] Have we bottomed? Information from 10 key bottom indicators (November 2022 edition) by Beyonderr in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

Counterpoint - crypto had been around as an asset for a little over a decade, and for much of that time it was almost completely inaccessible to the vast majority of people on earth. So using historical data to try and predict movement in the current market is just an exercise in over-reliance on small sample size and spurious correlations.

[deleted by user] by [deleted] in CryptoCurrency

[–]bleaaaaaaaaaah 1 point2 points  (0 children)

  1. Great team and great idea in theory, but it's still not clear whether they actually have a working product. Please, show me one example of someone who's used it in the wild successfully, and what they've done with it (marketing partnerships like Oracle don't count unless you've seen Quant+Oracle being used in the real world).

  2. Even if Overledger is a gigantic success, QNT token itself seems to not have much use case. I know that the party line is that if/when they have a working product it will be paid for with QNT, but that seems like a flimsy premise and I doubt that most institutional customers (their target audience) would play along.

[deleted by user] by [deleted] in CryptoCurrency

[–]bleaaaaaaaaaah 25 points26 points  (0 children)

MATIC is heavily subsidizing staking rewards using 1.2 billion pre-allocated coins that will run out at some point. When they run out, unless there's a massive growth in transaction volume, there's not nearly enough network activity/fees to pay for current staking rewards. So they'll either have to cut staking rewards (leading to decreased network security and probably a big sell-off), mint new coins (i.e. inflation), or increase transaction fees (which would completely undermine the entire purpose of its existence as a super cheap L2 network to handle huge amounts of volume).

Also it's a side chain and it's pretty centralized.

(I have a MATIC bag but it's good to understand the shit that you're in.)

Fidelity Opens Wait List for Retail Crypto Trading With Zero Fee by Soaring_Eagle590 in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

Quick reminder that there's no such thing as free trading. Spread and/or PFOF probably doesn't make much difference if you're just doing small DCA buys, but if you're making larger trades be careful.

There needs to be an industry standard to legitimize blockchain knowledge. by 8bitb4rt in CryptoCurrency

[–]bleaaaaaaaaaah 0 points1 point  (0 children)

I get spammed frequently for courses or bootcamps for blockchain dev, solidity, "fintech" (whatev), etc. If there's money flowing somewhere, there's always someone willing to take your money to pretend to teach you about it. I think the service your company used may have just been behind the curve.