A fool and his not-really-money are soon parted
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@Medinoc said in A fool and his not-really-money are soon parted:
funge
There are definitely better dishes on that continent
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@Medinoc said in A fool and his not-really-money are soon parted:
@topspin What does "funge" mean?
You'll have to ask the crypto bros. Don't expect an intelligible answer, though.
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@Medinoc Wiktionary has this covered:
funge (plural funges)
(obsolete) A fungus.
(obsolete) A fool or simpleton.Fucking-A.
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It’s pretty savage.
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@Arantor said in A fool and his not-really-money are soon parted:
If he really did that talk in 30 minutes, I'm impressed
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@boomzilla NFTs Worth $
1.8M0.00 That Some Fool paid $1.8M for Seized by UK Law Enforcement for the First Time
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Moar Color Museum!
It's your turn.
Mint at the waitlist price.Click the button below and enter the following 4 digit PIN to unlock the waitlist price.
4 5 2 5
Mint now
Mobile minters: You will have to copy the link for the Mint now button above and access it directly through your Ethereum wallet's built in browser.The link was a button in the email. Anyone want to mint?
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And the latest artist to hop onto the fad is met with great support:
Samwise has decided to start selling NFTs of his art. ...
Celestalon, Zorbrix, and many more Blizzard employees and fans have replied, urging him to not do it.
As in, nobody thinks he should do it.
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@topspin Ex-Blizzard guy who did a lot of art for the early games.
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Too bad it's fake and full of hipsterisms. Still might be worth a chuckle:
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@JBert well done. You've earned an EFT.:
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@Medinoc said in A fool and his not-really-money are soon parted:
@topspin What does "funge" mean?
At the risk of
: "fungible" means "able to be swapped for an equivalent." So money is fungible, because it doesn't matter which $100 you have, as long as you have $100, because all $100 bills are equivalent. Commodities are generally fungible (modulo, say, expiration dates); that's what makes them commodities: it doesn't really matter which you have, as long as you have twenty pounds of rice that can be made into a very large blackjack on short notice. The most important thing about fungible items is that they can be broken into parts, sold piecemeal, and it's not a problem (they retain about the same value as 1/N of the whole). So you can break your $100 into five twenties, you can take your twenty pounds of rice and divide it among ten socks to make more reasonably-sized blackjacks, etc.
NFTs are not fungible in that they cannot be broken into parts and sold piecemeal: they are one thing, in the same way that a piece of art is a thing: it's unique, it's not equivalent to other art pieces, it can't be broken into 4 parts and sold as the equivalent of 1/4 of a thing each, etc.
It's not really interesting, but it does use a fancy word that's uncommon in common parlance. So that's something.
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
NFTs are not fungible in that they cannot be broken into parts and sold piecemeal: they are one thing, in the same way that a piece of art is a thing: it's unique, it's not equivalent to other art pieces, it can't be broken into 4 parts and sold as the equivalent of 1/4 of a thing each, etc.
Coming soon: shares in NFTs, providing fungibility where there previously was none.
How many femto-apes did you want?
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Der SPIEGEL today did a news piece on crypto (namely that someone brought a decomissioned coal power plant back to life for mining) and it brought out all the rabid fanboys in the comments.
Some even tried to sell the idea that it's "fiat money" which is not coupled to anything in reality! Weirdly enough, the argument that using that particular logic also meant that their
house deedparent's basement also was not actually coupled to anything in reality did not encounter much enthusiasm.They also all touted the party line that all the crypto currencies will switch to Proof of Stake Real Soon Now No ReallyTM.
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@Rhywden said in A fool and his not-really-money are soon parted:
They also all touted the party line that all the crypto currencies will switch to Proof of Stake Real Soon Now No ReallyTM.
Which will come first: commercial fusion power, or Proof-of-Anything-But-Work?
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
@Rhywden said in A fool and his not-really-money are soon parted:
They also all touted the party line that all the crypto currencies will switch to Proof of Stake Real Soon Now No ReallyTM.
Which will come first: commercial fusion power, or Proof-of-Anything-But-Work?
Yes?
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
@Rhywden said in A fool and his not-really-money are soon parted:
They also all touted the party line that all the crypto currencies will switch to Proof of Stake Real Soon Now No ReallyTM.
Which will come first: commercial fusion power, or Proof-of-Anything-But-Work?
Cardano is a proof-of-stake blockchain platform: the first to be founded on peer-reviewed research and developed through evidence-based methods. It combines pioneering technologies to provide unparalleled security and sustainability to decentralized applications, systems, and societies.
There's also Chia (linked previously in this thread) that uses proof of storage and was responsible for hard drive shortages.
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
@Rhywden said in A fool and his not-really-money are soon parted:
They also all touted the party line that all the crypto currencies will switch to Proof of Stake Real Soon Now No ReallyTM.
Which will come first: commercial fusion power, or Proof-of-Anything-But-Work?
Doesn’t matter if it ever comes, proof of stake is just as bad for the crypto goals, as it invariably incentivizes centralization even more than proof of work. So again crypto “currencies” fail hard at their very promises.
Not that the promise of “dumb shit that’s only useful for money laundering” is very appealing, anyway.
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@topspin said in A fool and his not-really-money are soon parted:
Not that the promise of “dumb shit that’s only useful for money laundering” is very appealing, anyway.
If they could follow through on the promise of it, it would be good (watch Canada for a case study). But I don't see how that can realistically happen.
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@boomzilla said in A fool and his not-really-money are soon parted:
@PotatoEngineer said in A fool and his not-really-money are soon parted:
@Rhywden said in A fool and his not-really-money are soon parted:
They also all touted the party line that all the crypto currencies will switch to Proof of Stake Real Soon Now No ReallyTM.
Which will come first: commercial fusion power, or Proof-of-Anything-But-Work?
[multiple cryptocurrencies that are not Proof-of-Work]
I forgot which
forum I was posting to. I was responding to the "Etherium will switch to Proof of Stake" bit, and what I meant was "a major coin switches to Not-Proof-Of-Work."
This is why it takes so long to post to this forum: checking all my statements for accuracy from every possible context!
Of course, if I post sloppily, then I get to make multiple follow-up posts, collecting internet pointz from each. Decisions, decisions...
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
@Medinoc said in A fool and his not-really-money are soon parted:
@topspin What does "funge" mean?
At the risk of
: "fungible" means "able to be swapped for an equivalent." So money is fungible, because it doesn't matter which $100 you have, as long as you have $100, because all $100 bills are equivalent. Commodities are generally fungible (modulo, say, expiration dates); that's what makes them commodities: it doesn't really matter which you have, as long as you have twenty pounds of rice that can be made into a very large blackjack on short notice. The most important thing about fungible items is that they can be broken into parts, sold piecemeal, and it's not a problem (they retain about the same value as 1/N of the whole). So you can break your $100 into five twenties, you can take your twenty pounds of rice and divide it among ten socks to make more reasonably-sized blackjacks, etc.
NFTs are not fungible in that they cannot be broken into parts and sold piecemeal: they are one thing, in the same way that a piece of art is a thing: it's unique, it's not equivalent to other art pieces, it can't be broken into 4 parts and sold as the equivalent of 1/4 of a thing each, etc.
It's not really interesting, but it does use a fancy word that's uncommon in common parlance. So that's something.
Sincere thanks.
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
Which will come first: commercial fusion power, or Proof-of-Anything-But-Work?
The signs are looking like fusion power might actually work within the next decade, as it looks like the plasma containment problems have finally been solved (the key seems to have been using machine learning for working out how to squelch instabilities at a very early stage). If it was just one company doing it, I'd still be very doubtful, but it seems to be many at once and that's a really good sign. I wouldn't hold my breath though. It's moved from multi-decades to maybe a decade (which is at least a sensible budgeting horizon). Power plants take quite some time to build.
Contrast with cryptocurrencies though, who seem to have not been able to bring themselves to understand that proof-of-not-being-a-massively-negative-thing-for-humanity is desirable, let alone actually settled on anything that that might be. The closest they've got is being the tool of choice for laundering money from drug running and prostitution into other illegal activities. (There was a brief period when it looked like they'd be useful for doing money transfers, but the economics of crypto — especially the rampant speculatory scamming — ended up making just going to Western Union cheaper and simpler for most of the world's population.)
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@dkf said in A fool and his not-really-money are soon parted:
The signs are looking like fusion power might actually work within the next decade
Even the most optimistic plans don't reflect that.
And all the news about breakthroughs that have "almost" achieved break-even are only talking about the plasma, not the total reactor, which is an order of magnitude higher. So when they say "we're almost there with Q=0.7", read that as "we're 10% there", energy-wise.
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@topspin said in A fool and his not-really-money are soon parted:
@dkf said in A fool and his not-really-money are soon parted:
The signs are looking like fusion power might actually work within the next decade
Even the most optimistic plans don't reflect that.
And all the news about breakthroughs that have "almost" achieved break-even are only talking about the plasma, not the total reactor, which is an order of magnitude higher. So when they say "we're almost there with Q=0.7", read that as "we're 10% there", energy-wise.
Sssshhhhh!! You'll dry up all the funding like that!
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@topspin said in A fool and his not-really-money are soon parted:
And all the news about breakthroughs that have "almost" achieved break-even are only talking about the plasma, not the total reactor, which is an order of magnitude higher. So when they say "we're almost there with Q=0.7", read that as "we're 10% there", energy-wise.
It's more the amount of time they can keep the containment going that leaves me hopeful.
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@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
collecting internet pointz from each
I do like providing pointz...
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@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
You want the "Bill Gates created a COVID vaccine chip" nutters to be correct?
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@dkf said in A fool and his not-really-money are soon parted:
money transfers
@dkf said in A fool and his not-really-money are soon parted:
Western Union
When the old money transfer scam is more appealing than the hip crypto scam, something dun fucked up...
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@loopback0 said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
You want the "Bill Gates created a COVID vaccine chip" nutters to be correct?
I will assimilate them all
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@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@loopback0 said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
You want the "Bill Gates created a COVID vaccine chip" nutters to be correct?
I will assimilate them all
Until the chip reboots mid-assimilation due to an update
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@Tsaukpaetra said in A fool and his not-really-money are soon parted:
I do like providing pointz...
I know. I have seen your point~
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@loopback0 said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@loopback0 said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
You want the "Bill Gates created a COVID vaccine chip" nutters to be correct?
I will assimilate them all
Until the chip reboots mid-assimilation due to an update
Because of decentralization, that won't matter, as more chips will be available to continue the job.
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@topspin said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
WTF is that emoji?
Icon of a dead website builder. http://www.simplybuilt.com/
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@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@loopback0 said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
You want the "Bill Gates created a COVID vaccine chip" nutters to be correct?
I will assimilate them all
Are you sure you want to assimilate all the crazy folk? Fair warning.
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@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
Shit, man, the NFT bullshit missed the My Vaccination Photo bullshit by like this much, yeah.
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@boomzilla said in A fool and his not-really-money are soon parted:
watch Canada for a case study
Which part? I don't really know how to spot money laundering in Canada.
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@Gribnit said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
watch Canada for a case study
Which part? I don't really know how to spot money laundering in Canada.
They're working on it!
More seriously, though, the way the government has been freezing bank accounts under its invocation of the Emergency Powers Act.
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@Gribnit said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@loopback0 said in A fool and his not-really-money are soon parted:
@Tsaukpaetra said in A fool and his not-really-money are soon parted:
@boomzilla said in A fool and his not-really-money are soon parted:
responsible for hard drive shortages.
Big Brain Idea coming up: What if we made a chain based around Proof of Vaccination?
You want the "Bill Gates created a COVID vaccine chip" nutters to be correct?
I will assimilate them all
Are you sure you want to assimilate all the crazy folk? Fair warning.
There must be a balance in all things.
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@boomzilla said in A fool and his not-really-money are soon parted:
It's that last sentence that is likely to end with them in trouble. Everything before that could be taken as being factual, but the last sentence smacks of cocking a snoot at the court, and that's a very bad idea as it can lead to arrest warrants.
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@dkf if they were smart they wouldn't be involved with crypto.
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@dkf I'm sure the government has an alternative definition of 'self custody' relating to 'the self being in custody' which will end poorly for that email writer.
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@dkf said in A fool and his not-really-money are soon parted:
the last sentence smacks of cocking a snoot at the court, and that's a very bad idea as it can lead to arrest warrants.
Yeah, there's a notable smack in that area. Not sure if it raises to cocking a snoot, over taking the piss, but they can draw the line as closely as first-level looking at them sideways.
Do not cut your eyes at anyone in Georgia, let alone a judge.