An interesting hack to be sure.
https://arstechnica.com/gaming/2022...-600-million-from-a-crypto-gaming-blockchain/
https://arstechnica.com/gaming/2022...-600-million-from-a-crypto-gaming-blockchain/
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I only know about them because of the research I did into NFTs to understand what crypto bros were trying to peddle to gamers. South Park nailed NFTs in the Post-COVID movie:
Oh I thought you were describing crypto for a minute there.It all boils down to get rich quick dreams from the bottom and whale milking from the top, doesn't it?
It's funny you mention that because there is another scene in the South Park movie where Butters is explaining it at an old folks prison and stacks Tupperware like a pyramid.Can someone explain how is this game not a pyramid scheme? It literally starts by having to buy the "starter package" from those already invested in the "game".
People spend real money to get a product, if the company is registered in the U.S yes they absolutely should be investigated.I wonder about whether public law enforcement resources should be spent on cases like this. As a tax payer (in the USA), I don't want to pay for securing unregulated markets, particular when a main aim of the market participants is to transact outside the bounds of recognized laws and regulations.
Looks like Sky Mavis is in Vietnam. To be honest, I haven't followed these kinds of cases, and have no idea how much law enforcement has involved itself in crypto crimes, in the US or elsewhere.
I wonder about whether public law enforcement resources should be spent on cases like this. As a tax payer (in the USA), I don't want to pay for securing unregulated markets, particular when a main aim of the market participants is to transact outside the bounds of recognized laws and regulations.
Looks like Sky Mavis is in Vietnam. To be honest, I haven't followed these kinds of cases, and have no idea how much law enforcement has involved itself in crypto crimes, in the US or elsewhere.
Absolutely, a leftover backdoor was used.Bet it was an inside job.
I asked myself why was there even 600 million $ worth of assets that could be nabbed? And that is not even the whole amount of assets for a rarely in general played game -> I would suspect more a laundering scheme, washing Eth so to speak into fresh wallets.Can someone explain how is this game not a pyramid scheme? It literally starts by having to buy the "starter package" from those already invested in the "game".
According to this:I asked myself why was there even 600 million $ worth of assets that could be nabbed? And that is not even the whole amount of assets for a rarely in general played game -> I would suspect more a laundering scheme, washing Eth so to speak into fresh wallets.
The vast majority of all of these are scams or have completely failed tokenomics. There are some great projects out there where the developers are known (with some even being in the United States making YouTube updates). They have a tangible product trying to solve a problem. Those I tend to look at early. And not solving a stupid problem either, everyone says they solve something which is bs. I’m talking about things that cause huge shifts (Amazon in 2000 for example).
Some like STRONG have known developers with backing but still have very shady entry conditions and don’t allow anyone to host a node. You have 0 control over anything. You buy STRONG which pays for the early adopters and hope more people come in to pay you. They have a roadmap for future third parties to utilize your nodes but that’s highly questionable since they are all in Singapore iirc.
I tend to avoid any DAO and gaming cryptos. Sure you might get lucky but unless you jump on as soon as it launches and sell your initial investment soon afterwards you’ll likely lose from what I’ve seen.
Unless you have a really deep understanding of crypto, the newest coding principles and designs, and a good understanding of economics and value trading you can loose everything very quickly.
You knowingly give your money to corporations through stalks in the hope you'll make more. Ludacris!This is exactly why I can't ever "invest" in crypto... Mining is one thing, but knowingly giving an exchange your money hoping you'll make more is ludacris to me...
Lol, a lot of the people supposedly "into" crypto don't care about it any further than "can I get rich from this?"You're missing the point of a lot of the posters here. They don't care about crypto. They are complaining because they blame crypto for inflated GPU prices. The fact that it could possibly have any utility or value at all is lost on them.
Lol, a lot of the people supposedly "into" crypto don't care about it any further than "can I get rich from this?"
They don't care about the utility of crypto anymore than the average forum poster that blames it for gpu prices (it is A factor, just not THE factor).
Nonsensical to you, maybe. To those who are invested into it. But what about someone who isn't? Crypto does affect gpu prices. So to some people on a...oh, idk, hardware forum that mostly does with pc gaming who also happen to not financially rely on crypto, maybe it isn't so nonsensical.I did say "value" in my post. That should cover the "can I get rich" people. Even if that's all they care about, "getting rich" is still utility in its own way.
My point is the nonsensical posting of the grumpy cat "Good" meme is about as useful as the crypto faithful telling those people "have fun being poor."
Nonsensical to you, maybe. To those who are invested into it. But what about someone who isn't? Crypto does affect gpu prices. So to some people on a...oh, idk, hardware forum that mostly does with pc gaming who also happen to not financially rely on crypto, maybe it isn't so nonsensical.
The only silver lining is when maybe a bunch of used gpus get dumped on ebay for super cheap. Still have yet to see that happen this time around.
Don't recall saying anything about the gpu shortage. But yes, crypto is a factor in more sales per buyer. Why are you getting hung up on singular causes? Do you dispute that it is a factor at all?Maybe the GPU shortage wasn't caused by crypto after all...hence you're not seeing a big GPU dump...
Don't recall saying anything about the gpu shortage. But yes, crypto is a factor in more sales per buyer. Why are you getting hung up on singular causes? Do you dispute that it is a factor at all?
I don't. In this case, it sounds exactly like a pyramid scheme. The sooner it's dismantled, the better.Minor factor...
Case in point: Next gen consoles. They haven't been readily available since launch, and you can't mine on them. If crypto were a major factor, consoles shouldn't be suffering from availability issues.
And the reason I'm even defending it is because I think the grumpy cat meme and the 25 people who liked the post are wrong.
Bingo!Minor factor...
Case in point: Next gen consoles. They haven't been readily available since launch, and you can't mine on them. If crypto were a major factor, consoles shouldn't be suffering from availability issues.
And the reason I'm even defending it is because I think the grumpy cat meme and the 25 people who liked the post are wrong.
Qualcomm has pulled their Snapdragon production from Samsung their internal memo’s stated their fab rate was as low as 35% and they are spinning up the Snapdragon 8 Gen 2’s at TSMC.Bingo!
People fail to realize that AMD is contractually obligated to provide I think 80%? of their supply to MS and Sony for consoles....and the shortages as you know, and sadly not enough other people, is due to supply chain issues in general, nothing to do with mining.
Now for NVIDIA..well that could be another story
You're missing the point of a lot of the posters here. They don't care about crypto. They are complaining because they blame crypto for inflated GPU prices. The fact that it could possibly have any utility or value at all is lost on them.
You're missing the point of a lot of the posters here. They don't care about crypto. They are complaining because they blame crypto for inflated GPU prices. The fact that it could possibly have any utility or value at all is lost on them.
What problem is the supposedly "good" products trying to solve? I and others have been asking that from NFT believers for months and we never get a straight answer. They dance around the question. I don't see any utility in NFT that existing processes and systems don't already handle without adding the needless complexity of blockchain.The vast majority of all of these are scams or have completely failed tokenomics. There are some great projects out there where the developers are known (with some even being in the United States making YouTube updates). They have a tangible product trying to solve a problem. Those I tend to look at early. And not solving a stupid problem either, everyone says they solve something which is bs. I’m talking about things that cause huge shifts (Amazon in 2000 for example).
Some like STRONG have known developers with backing but still have very shady entry conditions and don’t allow anyone to host a node. You have 0 control over anything. You buy STRONG which pays for the early adopters and hope more people come in to pay you. They have a roadmap for future third parties to utilize your nodes but that’s highly questionable since they are all in Singapore iirc.
I tend to avoid any DAO and gaming cryptos. Sure you might get lucky but unless you jump on as soon as it launches and sell your initial investment soon afterwards you’ll likely lose from what I’ve seen.
Unless you have a really deep understanding of crypto, the newest coding principles and designs, and a good understanding of economics and value trading you can loose everything very quickly.
Proof of pollution helps slow the decline of ailing coal barons fortunes.What problem is the supposedly "good" products trying to solve? I and others have been asking that from NFT believers for months and we never get a straight answer. They dance around the question. I don't see any utility in NFT that existing processes and systems don't already handle without adding the needless complexity of blockchain.