Thrag
3850
Celsius dropping to zero.
CraigM
3852
Just convert to Kelvin and they’re back at 215!
I’ve been shorting the meme stocks Gamestop, and AMC (actually writing call options).
Gamestop has been trading in the 120 range for a long-time, and then shot up to 150. Check the news feed and see this blurb.
GameStop launches non-custodial, Ethereum Layer 2-based NFT marketplace
4:24 PM ET, 07/11/2022 - Briefing.com
Co announces that it has launched its non-fungible token (“NFT”) marketplace to allow gamers, creators, collectors and other community members to buy, sell and trade NFTs. The company’s NFT marketplace is a non-custodial, Ethereum Layer 2-based marketplace that enables parties to truly own their digital assets, which are represented and secured on the blockchain.The marketplace allows parties to connect to their own digital asset wallets such as the recently launched GameStop Wallet. Over time, the marketplace will expand functionality to encompass additional categories such as Web3 gaming, more creators and other Ethereum environments.
This is completely incomprehensible to me, and I’m not complete idiot about this. The stock promptly shot up form 130 to high of 151, before returning to earth orbit of 136 today. I have to wonder what percentage of the folks who bought the stock after the announcement had a clue as to what " non-custodial, Ethereum Layer 2-based NFT marketplace, is does, or works.
I bet single digit.
rei
3854
“to truly own*"
*as long as GameStop and Immutable X’s dumb website stays up or as long as they stay solvent
I thought it was the part of the image that’s invisible.
rei
3858
It’s great fun searching Twitter for “have fun staying poor” posts before June and comparing them now.
… for a month and a half.
Still, nice publicity stunt.
Tim_N
3861
Forget outperforming the S&P 500, he’s outperformed 99.5% of crypto investors!
Grifters gonna grift.
“…you see, the drugs will have actual blockchain in them, which will make them more effective.”
A guy convicted for securities fraud starting a web3 company? No red flag there. Nope. No sireeee.
Good grief.
By all means, let us subsidize the unregulated Ponzi scheme.
KevinC
3865
You’ve got to be kidding me. This is what it takes in 2022 to get a bipartisan bill put forward? We can reach across the aisle… for crypto? We truly are in the darkest timeline.
And as if I need another reason to dislike Sinema. Yuck.
I assume this is just going to be a way to trivially launder money by breaking it into <$50 transactions? Because like…literally nobody is using crypto for everyday purchases, so the very premise is absurd.
I’m not sure what the point of the bill is, since making actual <$50 transactions with crypto is utterly insane (because of gas fees: you’d pay more for the transaction fee than the transaction itself on any semi-popular chain.)
Unless the bill instead is subsidizing something somewhat different - the “Lightning Network” where, to minimize transaction fees, you pre-pay in advance to fill a crypto wallet with a given merchant, which you then gradually empty (e.g. pay $250 in advance to Starbucks to fill a wallet, which then gets debited every time you get a coffee.)
In which case the bill is subsidizing an already bad, anti-consumer idea. The scheme boils down to consumers giving free loans to businesses by pre-paying. The bill would, on top of the free loan, give the business a tax break for accepting the free loan, for no real public policy reason (other than to make the crypto line go up.) It’s like having the government give tax breaks for businesses who issue gift cards.
You left out the part where Starbuck’s donates to Sinema’s campaign fund.
Love to bank my money at Starbucks instead of my FDIC insured account.
