A fool and his not-really-money are soon parted
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@boomzilla Many things are said in lawsuits. Some of them are true. I'll wait to see what evidence they present to support the claim.
Bunker life is a well-documented fixation among tech billionaires, particularly those who identify as doomsday preppers. There’s also a fascination with buying large estates in the Pacific and even owning small islands there.
That fascination is not limited to tech billionaires. Of course, I don't have, and will never have, anywhere near enough money to achieve that dream (and I'm not sure I'd really want to if I could), but being thousands of miles from any other humans (except, perhaps, carefully selected, like-minded companions) does have a certain appeal.
As for the choice of a Pacific island, they tend to meet selection criteria that other regions don't necessarily (although I think some Indian Ocean islands might do as well). Warm climate. That eliminates most of the world's islands. Don't belong to any major nation and remote enough to have a reasonable degree of practical, if not legal, autonomy, but close enough to normal shipping routes to get regular delivery of supplies. Big enough to have a reliable fresh water supply, but small enough to be unpopulated or sparsely populated and thus more likely to be available for purchase.
There are also Caribbean islands that satisfy most of these criteria, but remote and unpopulated they generally aren't. There are certainly small, private islands, but they aren't remote enough to have real autonomy. Also, they tend to be subject to frequent hurricanes. I don't know nearly so much about Pacific or Indian Ocean storms; they may be just as damaging to the islands there. So the Pacific might not really be better than other regions, but it's only an idle daydream (at least for me) anyway. However, I've obviously daydreamed about it more than a little.
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@HardwareGeek said in A fool and his not-really-money are soon parted:
close enough to normal shipping routes to get regular delivery of supplies.
I'm sure that'd work really well with your Delivery Distortion Field.
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@HardwareGeek said in A fool and his not-really-money are soon parted:
There are also Caribbean islands that satisfy most of these criteria, but remote and unpopulated they generally aren't. There are certainly small, private islands, but they aren't remote enough to have real autonomy.
If you're looking for autonomy, there's probably no country on earth where you're less likely to find it than Nauru.
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@izzion if you already have PayPal, why would you need Shitcoins?
Ignoring for a second that PayPal has all the disadvantages (to the customer) of being a bank combined with all the disadvantages of not being a bank.
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@topspin said in A fool and his not-really-money are soon parted:
@izzion if you already have PayPal, why would you need Shitcoins?
I imagine they found some legal loophole that makes it not completely illegal to make the reserves they need for their banking business anyway do double duty as the "peg" for a stable¹coin so why not.
Edit: "fully backed by U.S. dollar deposits, short-term Treasuries and similar cash equivalents", so debts from Nigerian princes are probably fine for pegging the customers. Uh, the coin
¹ That's a noun, as in "Augeas".
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@LaoC said in A fool and his not-really-money are soon parted:
stable¹coin
¹ That's a noun, as in "Augeas".Stables are usually full of , so it seems appropriate.
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@HardwareGeek said in A fool and his not-really-money are soon parted:
@LaoC said in A fool and his not-really-money are soon parted:
stable¹coin
¹ That's a noun, as in "Augeas".Stables are usually full of , so it seems appropriate.
Augeas' in particular.
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@topspin said in A fool and his not-really-money are soon parted:
Ignoring for a second that PayPal has all the disadvantages (to the customer) of being a bank combined with all the disadvantages of not being a bank.
If it were not that every other payment processor is even worse.
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@HardwareGeek said in A fool and his not-really-money are soon parted:
I don't know nearly so much about Pacific or Indian Ocean storms; they may be just as damaging to the islands there.
Pacific typhoons are even worse than hurricanes. There's a reason why "super-typhoon" is a known phrase.
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@dkf said in A fool and his not-really-money are soon parted:
@HardwareGeek said in A fool and his not-really-money are soon parted:
I don't know nearly so much about Pacific or Indian Ocean storms; they may be just as damaging to the islands there.
Pacific typhoons are even worse than hurricanes. There's a reason why "super-typhoon" is a known phrase.
Well of course. The strongest Pacific typhoons originate near the Land That Caused Cancer
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A fool and his actually-money united by oversight:
Cryptocurrencies definitely aren’t overwhelmingly used by scammers and suckers. But apparently just a measly $220 million lost to scams last year alone is enough for a bank to limit transactions to cryptocurrency exchanges to $10000 per month.
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@kazitor If they would be really serious about protecting from fraudulent transactions they would set the limit to $0, though. In both directions.
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What do you mean "
srand((uint32_t)time())
isn't random enough"?
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Lawsuit plaintiffs say that harmed investors bought the NFTs "with a reasonable expectation of profit from owning them."
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Well, another herald of the end of the free money era I suppose…
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*insert famous P. T. Barnum quote here*
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@izzion that was a stupid idea on top of a mountain of stupid ideas. And also, why would anyone want to enforce that?
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@topspin said in A fool and his not-really-money are soon parted:
@izzion that was a stupid idea on top of a mountain of stupid ideas. And also, why would anyone want to enforce that?
I mean, a similar requirement exists for first party sales of movies. But NFTs aren't copyable, so why not enforce the residuals on each resale?
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@topspin said in A fool and his not-really-money are soon parted:
And also, why would anyone want to enforce that?
At the height of the NFT scam the sites selling them had to do so to attract the original sellers - because why would someone sell their shitty JPEG on your site without theoretical royalties when they could get them somewhere else?
None of the resellers cared because they were making ridiculous money on the sale even after the royalty cut.
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The semi-legal rug pull. Lose the password to your wallet, declare bankruptcy, and then magically break into your wallet in a year or two.
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@izzion Really, all they need to so is "oh, the seed phrase widget was in the couch cushions all this time!"
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@izzion said in A fool and his not-really-money are soon parted:
The semi-legal rug pull. Lose the password to your wallet, declare bankruptcy, and then magically break into your wallet in a year or two.
I was just reading about this earlier today. It has to be a scam because nobody is this stupid and incompetent.
- Store millions $$ in crypto on some sort of "Hardware Device".
- Create a password for the hardware device and have it etched onto a piece of metal. A bit excessive and overly dramatic, but OK, whatever.
- Lose the hardware device.
- Lose the piece of metal with the password on it.
- Because obviously keeping the hardware device and password-chunk-of-metal in a secure location, like a small safe that you could buy for a few hundred dollars, is somehow not an option.
- Because writing down the password on a piece of paper and storing it in a secure location, or just in your desk drawer, is somehow not an option.
- They discovered the problem (lost hardware device, lost password-chunk-of-metal) in December 2021.
- What the fucking fuck.
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An agent and his confiscated not-really-money …
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@LaoC said in A fool and his not-really-money are soon parted:
An agent and his confiscated not-really-money …
This is a common scam in the crypto world known as "address poisoning", and is successful primarily because crypto wallet addresses are very long strings of characters that people usually copy-and-paste, and only identify by the characters at the start and end.
It's like we've learned nothing from thirty years of email server administration.
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@izzion said in A fool and his not-really-money are soon parted:
It's like we've learned nothing
HumansGovernment employees, yo.
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There’s a link to the stream; he opens explorer and drags it to another window to open the plain text file of passwords. It appears on the streaming screen, he doesn’t notice and opens it again, then quickly drags the second window somewhere hidden and takes another second or two to notice it’s still showing and hurriedly close the frist.
And apparently he was quick to close the stream and try to secure the assets but somebody was already too fast. With apparently 70ish viewers.
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@kazitor What's that
gym lottery question oblige cotton
thing?
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Something generated using the "Correct Horse Battery Staple" XKCD method?
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@BernieTheBernie said in A fool and his not-really-money are soon parted:
@kazitor What's that
gym lottery question oblige cotton
thing?That’s the combination to my luggage!
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@BernieTheBernie said in A fool and his not-really-money are soon parted:
@kazitor What's that
gym lottery question oblige cotton
thing?It's a Secret Recovery Phrase apparently.
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@loopback0 said in A fool and his not-really-money are soon parted:
@BernieTheBernie said in A fool and his not-really-money are soon parted:
@kazitor What's that
gym lottery question oblige cotton
thing?It's a Secret Recovery Phrase apparently.
The things that gave the "Milk Sad" exploit its name.
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@Zerosquare Passphrases work, at least if generated randomly like the Diceware method (and a good list of words like the one the EFF made), and obviously if you keep it secret.
Though a password manager would have really helped here by worst-case not revealing more than one password at a time.
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@JBert said in A fool and his not-really-money are soon parted:
Though a password manager would have really helped here by worst-case not revealing more than one password at a time.
Until you find that the "Password" field in your password manager doesn't hold that many words at one time so you just put them all in the "Notes" field that is always visible when you're viewing the record.
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@izzion When I said "password manager" I didn't mean "total joke".
And my password manager of choice hides notes by default and so should others (I believe 1Password doesn't, but oh well).
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@JBert said in A fool and his not-really-money are soon parted:
@izzion When I said "password manager" I didn't mean "total joke".
And my password manager of choice hides notes by default and so should others (I believe 1Password doesn't, but oh well).
Keeper doesn't. Though it gives you ample ways to create masked fields and name them whatever you want, so it's absolutely a user error to store secret information in an unmasked field.
I'm pretty sure LastPass behaves similarly, but I'm not sure on the 1Password or LastPass feature set for custom fields.
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Rejoice! Everything is getting more human with blockchain! Your privacy is getting much stronger by giving your iris scans to
independent subcontractorsa shady bunch of opportunists you'll never be able to even sue, and a Universal¹ Basic Income will come with it!
Obviously one of the guys behind it is a certain Sam Altman.¹ Terms and conditions apply. "Universal" means investors in WorldCoin.
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@LaoC said in A fool and his not-really-money are soon parted:
investorssuckers in WorldCoinCon as in swindle.
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@boomzilla steal $2B, repay $5M. Profit!
And the rest of his life behind bars, but... but... profit! (Maybe leaving all that money to his heirs will be worth it to him?)
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
@boomzilla steal $2B, repay $5M. Profit!
And the rest of his life behind bars, but... but... profit! (Maybe leaving all that money to his heirs will be worth it to him?)
I think it's called "Effective Altruism"
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@PotatoEngineer said in A fool and his not-really-money are soon parted:
@boomzilla steal $2B, repay $5M. Profit!
And the rest of his life behind bars, but... but... profit! (Maybe leaving all that money to his heirs will be worth it to him?)
Or next year, they'll be free because the courts were obviously so biased when they were sentenced to over 11K years.
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@boomzilla Reading further down the stories...
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@HardwareGeek said in A fool and his not-really-money are soon parted:
@LaoC said in A fool and his not-really-money are soon parted:
investorssuckers in WorldCoinCon as in swindle.
and
consulting
.
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@HardwareGeek said in A fool and his not-really-money are soon parted:
@LaoC said in A fool and his not-really-money are soon parted:
investorssuckers in WorldCoinCon as in swindle.
Oh, I only meant "investors" as in "guys who put money into the actual company that gets actual money for scanning people's irises", not "suckers who own the new shitcoin".
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Only tenderloin and bitcoin comes from Texas
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I love the feel of facepalm in the morning.