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  • Crypto dalliance with F1 comes to a bad end

    From Mark Jackson@24:150/2 to rec.autos.sport.f1 on Tue Apr 5 17:55:44 2022
    https://kotaku.com/f1-formula-1-one-delta-time-nft-crypto-cursed-shut-down-1848748953

    --
    Mark Jackson - https://mark-jackson.online/
    When we get introspective, the terrorists win.
    - Bus Stop Guy (Darrin Bell)
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From News@24:150/2 to rec.autos.sport.f1 on Wed Apr 6 09:47:11 2022
    On 4/5/2022 5:55 PM, Mark Jackson wrote:
    https://kotaku.com/f1-formula-1-one-delta-time-nft-crypto-cursed-shut-down-1848748953



    "There's a sucker born every minute"
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From Heron@24:150/2 to rec.autos.sport.f1 on Wed Apr 6 09:48:35 2022
    On 4/6/2022 8:47 AM, News wrote:
    On 4/5/2022 5:55 PM, Mark Jackson wrote:
    https://kotaku.com/f1-formula-1-one-delta-time-nft-crypto-cursed-shut-down-1848748953

    "There's a sucker born every minute"

    There's a sucker reborn every minute, too.
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From XYXPDQ@24:150/2 to rec.autos.sport.f1 on Wed Apr 6 08:45:36 2022
    The whole NFT thing is mostly a scam.
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From geoff@24:150/2 to rec.autos.sport.f1 on Thu Apr 7 11:30:19 2022
    On 7/04/2022 3:45 am, XYXPDQ wrote:
    The whole NFT thing is mostly a scam.

    The whole crypto thing is little more than a pyramid scheme - actual
    payment transactions being only a minor part,m and even most of those
    being for nefarious purposes..

    geoff
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From Mark@24:150/2 to rec.autos.sport.f1 on Thu Apr 7 08:26:57 2022
    geoff <geoff@nospamgeoffwood.org> wrote:
    On 7/04/2022 3:45 am, XYXPDQ wrote:

    The whole NFT thing is mostly a scam.

    The whole crypto thing is little more than a pyramid scheme - actual
    payment transactions being only a minor part,m and even most of those
    being for nefarious purposes..

    All currency is a pyramid scheme of one sort or another, it just depends
    on how much you trust the backers. Even under various gold standards,
    you had to trust the people who held the gold that they truly had the
    amount of gold backing the currency. Similarly, trust in the Dollar,
    Euro, Sterling or whatever comes down to belief in the
    country/governments involved (look at the ruble).

    The issue with most cryptocurrencies is that they were (in most cases) originally set up to be difficult/impossible* to cheat while also being unregulated and untraceable. That makes it attractive to
    criminals...which inflates the value (as very large sums can be
    laundered through there)...which makes it attractive to ordinary people.
    IF belief in the cryptocurrency collapses (say, because a flaw in its cryptography* is found) you are left with nothing. That happens with traditional currency too...but the trigger for the collapse tends to be
    easier to spot.

    * I don't believe in flawless technology, just really robust technology
    whose flaws have yet to be discovered.
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From geoff@24:150/2 to rec.autos.sport.f1 on Thu Apr 7 22:16:37 2022
    On 7/04/2022 8:26 pm, Mark wrote:
    geoff <geoff@nospamgeoffwood.org> wrote:
    On 7/04/2022 3:45 am, XYXPDQ wrote:

    The whole NFT thing is mostly a scam.

    The whole crypto thing is little more than a pyramid scheme - actual
    payment transactions being only a minor part,m and even most of those
    being for nefarious purposes..

    All currency is a pyramid scheme of one sort or another, it just depends
    on how much you trust the backers.

    But the primary purpose that most are used for is day-to-day financial
    payment transactions of one sort or another.

    Unlike Crapto.

    geoff
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From Mark Jackson@24:150/2 to rec.autos.sport.f1 on Thu Apr 7 09:44:44 2022
    On 4/7/2022 6:16 AM, geoff wrote:
    On 7/04/2022 8:26 pm, Mark wrote:
    geoff <geoff@nospamgeoffwood.org> wrote:
    On 7/04/2022 3:45 am, XYXPDQ wrote:

    The whole NFT thing is mostly a scam.

    The whole crypto thing is little more than a pyramid scheme -
    actual payment transactions being only a minor part,m and even
    most of those being for nefarious purposes..

    All currency is a pyramid scheme of one sort or another, it just
    depends on how much you trust the backers.

    But the primary purpose that most are used for is day-to-day
    financial payment transactions of one sort or another.

    Unlike Crapto.

    http://amultiverse.com/tag/cryptocurrency/

    --
    Mark Jackson - https://mark-jackson.online/
    When we get introspective, the terrorists win.
    - Bus Stop Guy (Darrin Bell)
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From texas gate@24:150/2 to rec.autos.sport.f1 on Fri Apr 8 21:21:38 2022
    On Thursday, April 7, 2022 at 4:16:47 AM UTC-6, geoff wrote:

    of one sort or another.

    like your sexuality?
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)
  • From build@24:150/2 to rec.autos.sport.f1 on Sat Apr 9 02:52:42 2022
    On Thursday, April 7, 2022 at 6:26:59 PM UTC+10, mpc...@gmail.com wrote:
    geoff <ge...@nospamgeoffwood.org> wrote:
    On 7/04/2022 3:45 am, XYXPDQ wrote:

    The whole NFT thing is mostly a scam.

    The whole crypto thing is little more than a pyramid scheme - actual payment transactions being only a minor part,m and even most of those being for nefarious purposes..
    All currency is a pyramid scheme of one sort or another, it just depends
    on how much you trust the backers. Even under various gold standards,
    you had to trust the people who held the gold that they truly had the
    amount of gold backing the currency. Similarly, trust in the Dollar,
    Euro, Sterling or whatever comes down to belief in the
    country/governments involved (look at the ruble).

    The issue with most cryptocurrencies is that they were (in most cases) originally set up to be difficult/impossible* to cheat while also being unregulated and untraceable. That makes it attractive to
    criminals...which inflates the value (as very large sums can be
    laundered through there)...which makes it attractive to ordinary people.
    IF belief in the cryptocurrency collapses (say, because a flaw in its cryptography* is found) you are left with nothing. That happens with traditional currency too...but the trigger for the collapse tends to be easier to spot.

    * I don't believe in flawless technology, just really robust technology whose flaws have yet to be discovered.

    Interesting thread. I recall another thread on Bitcoin. Glad to see a few have learned.
    --- SBBSecho 3.06-Win32
    * Origin: SportNet Gateway Site (24:150/2)