3911

ETH becoming proof of stake instead of proof of work is apparently scheduled for a month from now.

3912

Ah, the final stake in the coffin of the notion of decentralization.

3913

Several hundred million AUD has been spent on this to date and they’ve had to reset the entire block chain during the project several times. Not really a viable solution in production as you can imagine.

This was the biggest non crypto use of the block chain anywhere and it’s about to go away entirely.

3914

Are you still involved in the project? I recall you replying a couple of years ago that you were in some way and that blockchain was marketing baloney. Seems not much has changed?

3915

I’m sure this guy was shocked to discover money laundering going on in this establishment.

3916

I didn’t expect this. I expected a more sophisticated grift, not just a run of the mill rug pull.

3917

Sophisticated is not a word I associate with Shkreli

3918

Yes, perhaps sophisticated is not what I was looking to get at. I was expecting a greedier longer term play.

3919

Thank you for asking.

The company I work for which has a system that our customers use that sits on the opposite side to chess, we are code complete for the new system and have been for sometime, we were just about to start rolling out the new chess version of the software for customers to commence their testing with.

We’ve had 10ish full time employees on this for 2 - 3 years. So that money may well be down the drain and is not recoverable. Which in a firm of under 60 staff is significant.

3920

If you added up all the resources that have been pissed away on blockchain solutions to non-existent problems (or problems to which blockhains are in no way a solution) I’m sure it is absolutely staggering.

3921
3922

I wouldn’t be surprised if they knew what they were doing.

The people who trusted them with their money, though…

3923

Wowza:

Three Arrows’ holdings in luna, once roughly half a billion dollars, were suddenly worth only $604

3924

When you hear someone espousing the virtues of crypto, that person is almost certain either a con man, or a sucker.

3925

Well these guys seem to have found the best use of the blockchain:

But there is a working theory. In Three Arrows’ final days, the partners reached out to every wealthy crypto whale they knew to borrow more bitcoin, and top crypto executives and investors — from the U.S. to the Caribbean to Europe to Singapore — believe 3AC found willing lenders of last resort among organized-crime figures. Owing such characters large sums of money could explain why Zhu and Davies have gone into hiding. These are also the kinds of lenders you want to make whole before anyone else, but you may have to route the money through the Caymans. Says the former trader and 3AC business partner, “They paid the Mafia back,” adding, “If you start borrowing from these guys, you must be really desperate.”

The blockchain is good for crimeing!

3926

It truly is the era of Trump when bragging dickishly on Twitter is all it takes to get people to trust you.

3927

3AC founders’ yacht is named the “Much Wow”

…so much cringe.

3928

I bought a dogecoin shirt back in 2014 that has “WOW” on it. I thought it was funny at the time. Back then, dogecoin was just a fun subreddit community where people would give each other dogecoin and try to propel the joke currency into everyday society any way they can. I still remember when they pooled their money together to buy a dogecoin image pasted on a NASCAR car and shared clips of everytime it was on TV.

It’s a real shame how perverted the industry became since then, and even that same dogecoin community is now just full of people wanting to make money like every other crypto ‘community’.

3929

or a sucker-off of conmen? ;)

3930

Yeah the fact that dogecoin became a “serious” moneymaking ponzi confused me, as I thought it had been 99% for the lols early on. Glad to hear my memory wasnt completely wrong.