You are both correct. Most altcoins doesn't even want to "generate money". If their tokenomics have working game theory (tx system or something else), they could raise in value as a side effect by design. But most of them are not bringing dividends as that would immediately make them securities by the standards of howey test.

Value and future of BFG however solely depends on the casino income. It isn't like most of altcoins (or tokens, if we want to be specific).

There's a weird story i totally missed in Sam Bankman-Fried's case, and that is the fact that the lawsuit against SBF, includes a memo that detailed plans to purchase a whole country with money from FTX to build a shelter that could withheld an apocalyptic event.

Now, one could argue there's more than one use cases for owning your own sovereign nation. Especially when the nation is already blacklisted internationally because of their blatant money laundering for super rich. If FTX (or sam) indeed managed to buy this island before it came cashing down, how much of different situation they would be facing right now?

Source:
https://www.forbes.com/sites/dereksaul/2023/07/21/sam-bankman-frieds-brother-allegedly-wanted-to-buy-pacific-island-country-to-build-doomsday-bunker-for-effective-altruists/

There's a reason why dollar isn't pegged to gold anymore. And for that same reason no country that actually has their economy working, would use bitcoin as their nation's currency. Money is good for fast liquidity, for something that holds it value rather stable. It is inflationary by design as if it would grow in value like bitcoin, or even just cutting the inflation, could break the whole economy. People would spend and invest less as it would be way safer just kept hoarding money, so there wouldn't be healthy flow of money that brings jobs and keeps economy alive.

Governments wouldn't have any buffer if for some emergency they would need it. And buffers like ability to print money, can prevent troubles, that without it could bring the country to total collapse. Nor governments have as much, or if any control as monetary system that they handle would be handled by someone else.

With growth of value, wage adjustements would be a mess, and hiring could end up being just too expensive There would be trade imbalance, mostly imported goods as producing anything in that country would become very expensive compared to anywhere else. And god knows what as i haven't really thought this trough. I am not an expert of any means yet i see more problems then upside.

Well this has nothing to do with cbdc's, as that's only new platform for digitalized usd (which people have been using since bank transactions), but one huge difference to altcoins, that comes in mind, is that you can't argue that usdt exists for making profit, which you can argue about altcoins and their marketing related to icos/idos/ieos or whatever. Obviously there are services that pay profit for holding usdt, but that's has nothing to do with Tether the company.

And one of the reasons SEC attacks to altcoins you can find from the Howey test, and that is under "3. With the expectation of profit"

Funny enough that's what our brain does automatically anyway, it's trying to form patterns. It connects dots that aren't there and find meanings on patterns that doesn't have meanings. This is typical in luck based games that are totally random, when people desperately seek control to the outcome.

And especially when things are totally random, we often feel very much that some actions have some specific consiquences, that are just hard to pick up, but it seems like it's close. We can't help it. Even if we know we can't pick patterns from random, we are still unconsciously doing it because it's hard coded to us as a skill developed by evolution. Skill that our subconscious mind desperately needs to be applicable in what ever we do.

Yes, it's often either a colorful pamflet. And before AI texts they used to be generic plagiated texts with some changed words.
They are promising roi and all that nonsense, they have moronic tokenimics with unsustainable inflationary tokenomics or burning system that doesn't make sense.
And obviously nevest gimmick. Right now it's AI, before that NFT, Farming, De-FI, Metaverse etc...
And frankly i am sometimes afraid i am getting some 0day exploits just by opening them.

And yeah, "we are going to have a credit card". How original.

Or a roadmap saying stuff like listing to famous CEX. And it's always some fake volume site where they pay with gazillion tokens for joining, or dump the tokens and do buyin with actual cryptos. Sometimes they are even overly ambitious and claim how they change health care or banking and government types forever. When actually they couldn't be adopted to work in one single ice cream kiosk.

And then there are tech papers and difficult white papers. Those i try to understand but team is either bluffing with smoke and mirrors that can be spotted by other coders, or the tech paper is so hard to comprehend that you are not sure that in what level you should even respect it.

I often wonder how much their own money they put in, before they could just gamble purely with sponsor deals and referral money. It's really hard for me to grasp that they would make a living with referral money as i never got but pennies from those. So does anyone know how bottom these guys are starting. I mean they probably buy views so they can get started.

I've watched live slot streamers and commented for bounty but that's about it. I doubt that anyone in the feed was watching them for free.

It would be a sweet to get tbh. As i love slots and talking nonsense while doing it wouldn't be that hard. Although i wouldn't like to show my face if they accepted an animated mask on it.
Also do they pay taxes from those? As they show their faces and all.

Onecoin has actual investors, even though there were no blockchain or real value with it. This has just poor users selling their data for pennies. I doubt that anyone grasps why would be need this kind of online identity as this doesn't solve anything, nor it would get adopted.

But in a sense you are right, and that is the fact that this could be worse than onecoin. This could be a shitcoin that has actual smaöö value because speculators will trade anything, and that will lead more people rushing in.

Eventually this nonsense will crash down as team will be sued and being a famous ceo doesn't help when they are facing jailtime for privacy violations in epic scale.

That freaking orb still gives me a chuckle, it's like something out of a weird/bad scifi tv. Someone should do a gif of woody allen's "sleeper" where they had an orb party and make a meme about this.

Well, not always, people do get airdrops occasionally, and sometimes they get worth way over that 1.5eth amount. But this thing OP posted was an obvious scam.

Op could have just googled it, as when people are getting rich from some airdrop, several medias are writing about it and even then people should double check the official urls and the follow the official method of claiming it. Anything else, or people pm:ing instructions is a 100% scam. Sadly people are falling for these and even if we are getting more idiot proof system, scammers will try to take an advantage on that. And this is nothing new, crypto wallet draining is just more advanced scam from the help desk / gift card scams.

Well i don't get name services on eth, or in other altcoins either. I don't get how linking your pseudonymous account with some vanity string of letters is taking bitcoin anywhere. Or other altcoins. One strenght about the eth or any other account is that it's harder for just everyone to connect them to my online handles or real identity. Imho adding this kind of attention to oneself in a public network is basically asking for doxxing.

Maybe i don't just get the future implementations, but i can't see anything cool coming from this. Other than maybe some airdrops, but that's not really a tech developement.

I won't be holding my breath. Zuck is moving on and calling out Elon's bullshit.



Elon obviously isn't taking this this as seriously, and i don't think that anyone who has actually done any fighting is taking elon seriously. Someone like Joe rogan is too much of a fan to call elon's bluff out loud but i am thinking he would like to. As he definitely sees which way this is going.

What would i do? Let's assume that i would win that €600k, which would be tax free where i live and used local lottery. But 600k isn't going to last for too long here, as everything costs a lot anyway if i just spend it, so i would invest it. Some to crypto, some to stocks.

I most likely wouldn't buy house, because good ones would end up costing more then renting them. But i might rent a place from better location, nothing too fancy. And i would tell only to few closest friends that are not asking money from me. That's it. free €600k would change some things in my life, but i wouldn't consider myself rich. Maybe wealthy enough that i wouldn't need to worry about money.

So what do you personally think? Would it still be worth time starting to mint those badges with my wallets in order to maybe get an airdrop. Or do you think that they have already snapshotted wallets that are eligble for airdrop? Give me your best guestimate. I might have several wallets that all qualify for many badges. I just always thought they would be just novelty items so not worth time i didn't do it earlier.

FYI it's Alejandro Mayorkas who determines who gets secret service protection, as he decides who qualifies as a major candidate (under the authority of Title 18, United States Code, Section 3056). Not Biden

And funny how RFK jr sees, that assassination happening because of political climate, not because that candinate was going after organized crime organisation, bringing tighter regulations to corrupted government, while RFK jr is a nutjob comparing US to equador of all places, why not compare US to russia while he is on it.

And i wonder how Badecker of all people don't think that US secret service is somehow an ukraina-related operation as they have same colors in their flag. That kind of ridiculous mental acrobatics would be right on his alley.

He updated it even more:



This pretty much summarizes the attitude difference between musk and zuck. For Zuck this is about mma as a sport. He knows where he stands, he is a beginner and moving up by doing the work. And he knows that this event or sport wouldn't be about him and would like to move a spotlight to actual fighting experts. While Elon focuses on getting the attention and taking the credit for himself. And i can't believe i got to a point i am rooting for Zuck

It's a spammy advertisement. They used to do this with erc20 and bep20 tokens. I mean thet airdropped tokens that have url in their name just to get attention to urls. Now they are going it with nfts as you can use pics with those ads. Just ignore every free nft you get, i got several of them. Url has a web page where you can "claim" something, but in reality it just empties your wallet.

You get airdropped tokens because team is airdropping them to wallets that are holding some other specific tokens. Cexes are not even distributing every airdrops, just the most anticipated ones. It used to be so that not every exchange even bothered to do the airdrops and kept the tokens airdropped themselves.

Farming is more complicated issue and i can't figure out how is that still legal in cexes. It's not price manipulation imho, and while i am not legal expert, it could break some other laws on securities and marketing. It might just be because regulations haven't catched up. And "staking", when it's not real staking is problematic.

Quizzes at least to my knowledge is part of dev team sponsored marketing to bring awareness about the coin, and the things that it's supposed to solve.

I see trading competitions, that are just volume competitions more blatant market manipulation and i don't know why that hasn't been dealt with yet by regulators

I am not sure how permissionless this will actually be, so that they can keep it regulatory compliant in eu. I think they must have same issues that why they haven't released BTC payments in eu yet (at least not in all eu countries).

Not similar to CBDC. This is a pegged to fiat money, while CBDC doesn't need to be pegged to anything but to itself, as it IS fiat money. You won't need to convert to money, it will be money, usable in everywhere.

Probably because Grimes (his ex) was generative AI enthusiast and now he doesn't want anything to do with either of them and think ai is dangerous. Most likely because he has issue with his ex. And i honestly feel more safe if that man doesn't buy anything related to AI as if he wants to micro manage things like in twitter he could make things worse. I believe there are people in existing companies who are putting themselves between engineers and him to prevent him from making things worse.

This summarizes my feelings about recent events:

Hold on. Can you elaborate on where you get your data from. Let's start from the fact that EU has actual trading partners from developed countries and get supplies shipped without any problems. While Russia is being sanctioned by majority of civilized world. So do you really think they are that self sufficient. They weren't doing that well before the war.

My ex who lived there used to talk to me about the little differences. This was long before the war, and still after Soviet union became Russia. One thing that stuck to my mind was corruption, even back then. People who live whole lives in corrupted countries, have hard time believing that something actually works in elsewhere. Like government actually fixes infra that's broken, very efficiently and fast. And no one is taking bribes.

Here's some data about economy. Can you point out how and where we are doing worse?

https://european-union.europa.eu/principles-countries-history/key-facts-and-figures/economy_en
https://commission.europa.eu/strategy-and-policy/eu-budget_en