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Crypto Crash... the end of Crypto gaming before it even started?

2

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  • TheocritusTheocritus Member LegendaryPosts: 9,457
    Quizzical said:
    Kyleran said:
    Here's a thought, perhaps the current crypto crash will encourage these developers to concentrate on making a good game first, instead of holding out the NFT / crypto aspects as the big lure to their product.


    Or perhaps crypto is the excuse for developers who can't make a good game to make a bad one instead.

    Crypto is just another means for other people to try and convince you that it is valuable, then take your real money...That is all it is....
    KyleranAmarantharDeathkon1AndemnonTuor7
  • QuizzicalQuizzical Member LegendaryPosts: 24,851
    olepi said:
    And since crypto/NFT is really a pyramid scheme, the current crash won't have any real effect on it. They are counting on ignorant people to prey on in the first place.
    I think that's quite the opposite.  Crypto isn't a collection of a bunch of independent pyramid schemes.  It's a bunch of highly correlated pyramid schemes.  One day, basically all of them go up.  The next day, basically all of them go down.  It's possible for one to fail in isolation for reasons peculiar to that particular one.  See Terra/Luna, for example, though that caused a major hit to the rest of crypto.  But for the most part, if more than a few fail, then they'll all fail at once.

    This is completely irrational behavior if you believe that cryptocurrencies have a real future as a currency.  Society doesn't need thousands of cryptocurrencies to mix together.  If they catch on, it will be one or a few that become dominant (with potentially different cryptocurrencies becoming individually dominant in different spheres), while the rest become worthless.  People putting money into crypto seem to be actively betting against that outcome, as they're betting that they'll all go up, not that the particular one that they put money into will be the winner.
    TheDalaiBombaKyleranChampieIselinAndemnon
  • WalkinGlennWalkinGlenn Member RarePosts: 440
    What's our resident NFT shill have to say on the matter?
    Andemnon
  • MendelMendel Member LegendaryPosts: 5,511
    I think there are too many people hyped for Crypto for it to go away anytime soon.  There is a fundamental flaw in any currency scheme that provides for independent new currencies to pop up without any tangible link to the real world.  The entire crypto thing is too volatile for me to consider it.  Maybe that changes in the future, but for now, it just doesn't entice me.



    Logic, my dear, merely enables one to be wrong with great authority.

  • DibdabsDibdabs Member RarePosts: 3,107
    Crypto currency is just a glorified, intricately designed Ponzi scheme.  Only total idiots fall for it, but then there's always plenty of idiots around.  I pity them even as I point my finger at them and laugh.
    maskedweaselChampieAndemnon
  • TheocritusTheocritus Member LegendaryPosts: 9,457
    What's our resident NFT shill have to say on the matter?

    I think he is still banned.....
    KyleranDeathkon1Andemnon
  • NildenNilden Member EpicPosts: 3,581
    Good Riddance GIFs - Get the best GIF on GIPHY

    You won't be missed! Good riddance!
    ScotAndemnon

    "You CAN'T buy ships for RL money." - MaxBacon

    "classification of games into MMOs is not by rational reasoning" - nariusseldon

    Love Minecraft. And check out my Youtube channel OhCanadaGamer

    Try a MUD today at http://www.mudconnect.com/ 

  • olepiolepi Member EpicPosts: 2,432
    Quizzical said:
    olepi said:
    And since crypto/NFT is really a pyramid scheme, the current crash won't have any real effect on it. They are counting on ignorant people to prey on in the first place.
    I think that's quite the opposite.  Crypto isn't a collection of a bunch of independent pyramid schemes.  It's a bunch of highly correlated pyramid schemes.  One day, basically all of them go up.  The next day, basically all of them go down.  It's possible for one to fail in isolation for reasons peculiar to that particular one.  See Terra/Luna, for example, though that caused a major hit to the rest of crypto.  But for the most part, if more than a few fail, then they'll all fail at once.

    This is completely irrational behavior if you believe that cryptocurrencies have a real future as a currency.  Society doesn't need thousands of cryptocurrencies to mix together.  If they catch on, it will be one or a few that become dominant (with potentially different cryptocurrencies becoming individually dominant in different spheres), while the rest become worthless.  People putting money into crypto seem to be actively betting against that outcome, as they're betting that they'll all go up, not that the particular one that they put money into will be the winner.

    This is a level of complexity that the ignorant targets cannot, or won't, understand.

    Crypto currencies are pure speculation, there is no fundamental value to them like stocks for example. The targets are ignorant users who cannot, or will not, think this deeply.

    Get in now, and sell later to the rubes.
    Andemnon

    ------------
    2023: 46 years on the Net.


  • QuizzicalQuizzical Member LegendaryPosts: 24,851
    olepi said:
    Quizzical said:
    olepi said:
    And since crypto/NFT is really a pyramid scheme, the current crash won't have any real effect on it. They are counting on ignorant people to prey on in the first place.
    I think that's quite the opposite.  Crypto isn't a collection of a bunch of independent pyramid schemes.  It's a bunch of highly correlated pyramid schemes.  One day, basically all of them go up.  The next day, basically all of them go down.  It's possible for one to fail in isolation for reasons peculiar to that particular one.  See Terra/Luna, for example, though that caused a major hit to the rest of crypto.  But for the most part, if more than a few fail, then they'll all fail at once.

    This is completely irrational behavior if you believe that cryptocurrencies have a real future as a currency.  Society doesn't need thousands of cryptocurrencies to mix together.  If they catch on, it will be one or a few that become dominant (with potentially different cryptocurrencies becoming individually dominant in different spheres), while the rest become worthless.  People putting money into crypto seem to be actively betting against that outcome, as they're betting that they'll all go up, not that the particular one that they put money into will be the winner.

    This is a level of complexity that the ignorant targets cannot, or won't, understand.

    Crypto currencies are pure speculation, there is no fundamental value to them like stocks for example. The targets are ignorant users who cannot, or will not, think this deeply.

    Get in now, and sell later to the rubes.
    That's all true, but it's actually worse than that.  The costs of conjuring up and trading NFTs is basically nothing, making them purely speculative assets, but at least they're pretty close to a zero-sum game.  Mined cryptocurrencies burn considerable resources to create the currency, making them very much a negative-sum game.  Even if you're into pure speculation, it's much harder to come out ahead in a negative-sum game than a zero-sum game.
    TheDalaiBombaAndemnon
  • maskedweaselmaskedweasel Member EpicPosts: 11,895
    Quizzical said:
    olepi said:
    Quizzical said:
    olepi said:
    And since crypto/NFT is really a pyramid scheme, the current crash won't have any real effect on it. They are counting on ignorant people to prey on in the first place.
    I think that's quite the opposite.  Crypto isn't a collection of a bunch of independent pyramid schemes.  It's a bunch of highly correlated pyramid schemes.  One day, basically all of them go up.  The next day, basically all of them go down.  It's possible for one to fail in isolation for reasons peculiar to that particular one.  See Terra/Luna, for example, though that caused a major hit to the rest of crypto.  But for the most part, if more than a few fail, then they'll all fail at once.

    This is completely irrational behavior if you believe that cryptocurrencies have a real future as a currency.  Society doesn't need thousands of cryptocurrencies to mix together.  If they catch on, it will be one or a few that become dominant (with potentially different cryptocurrencies becoming individually dominant in different spheres), while the rest become worthless.  People putting money into crypto seem to be actively betting against that outcome, as they're betting that they'll all go up, not that the particular one that they put money into will be the winner.

    This is a level of complexity that the ignorant targets cannot, or won't, understand.

    Crypto currencies are pure speculation, there is no fundamental value to them like stocks for example. The targets are ignorant users who cannot, or will not, think this deeply.

    Get in now, and sell later to the rubes.
    That's all true, but it's actually worse than that.  The costs of conjuring up and trading NFTs is basically nothing, making them purely speculative assets, but at least they're pretty close to a zero-sum game.  Mined cryptocurrencies burn considerable resources to create the currency, making them very much a negative-sum game.  Even if you're into pure speculation, it's much harder to come out ahead in a negative-sum game than a zero-sum game.
    Eh, not exactly. There are a lot of currencies that are not speculative. Blockchains as a whole aren't a speculative technology. 

    The technology provides a number of features. Speculation comes in the form of the way it's used, but even in those scenarios what is equated with a token or currency isn't always speculative. That's the purpose of some very specific stable coins. 

    It's definitely interesting, because there are examples of pretty much everything out there related to blockchain now. In some cases governance tokens act as a way of holding a fractional ownership of a protocol. Many protocols are not inherently speculative.  There are many functional protocols where their existence is part of the process to run the blockchain itself. 

    The speculation comes when there is a potentially popular chain. I don't think it takes much work to understand why they do this. 

    But again, you can't just shrug and say "all crypto currencies are speculative" because that's not really true. In reality, we can't even say that all NFT's are speculative. What we can say is that they've become popular because people have marketed them as such. 
    Andemnon



  • DarkZorvanReturnsDarkZorvanReturns Member RarePosts: 654
    Quizzical said:
    olepi said:
    And since crypto/NFT is really a pyramid scheme, the current crash won't have any real effect on it. They are counting on ignorant people to prey on in the first place.
    I think that's quite the opposite.  Crypto isn't a collection of a bunch of independent pyramid schemes.  It's a bunch of highly correlated pyramid schemes.  One day, basically all of them go up.  The next day, basically all of them go down.  It's possible for one to fail in isolation for reasons peculiar to that particular one.  See Terra/Luna, for example, though that caused a major hit to the rest of crypto.  But for the most part, if more than a few fail, then they'll all fail at once.

    This is completely irrational behavior if you believe that cryptocurrencies have a real future as a currency.  Society doesn't need thousands of cryptocurrencies to mix together.  If they catch on, it will be one or a few that become dominant (with potentially different cryptocurrencies becoming individually dominant in different spheres), while the rest become worthless.  People putting money into crypto seem to be actively betting against that outcome, as they're betting that they'll all go up, not that the particular one that they put money into will be the winner.
    Just noticed crypto and cash shop currencies are alike. "Here's 40 different currencies in the game used to purchase different things so you don't realize how much you've really lost altogether!"
    Andemnon
  • Deathkon1Deathkon1 Member RarePosts: 822
    What's our resident NFT shill have to say on the matter?
    The shills be banned for a while
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  • ScotScot Member LegendaryPosts: 19,959
    Deathkon1 said:
    What's our resident NFT shill have to say on the matter?
    The shills be banned for a while
    Come on, he can't be being paid by NFT MMOs as a genre. That would be like a reviewer on here giving DI a good review and posters saying he was a mobile shill. :)
    Deathkon1
  • QuizzicalQuizzical Member LegendaryPosts: 24,851
    Deathkon1 said:
    What's our resident NFT shill have to say on the matter?
    The shills be banned for a while
    I'm pretty sure that personal attacks were the reason for the ban, not crypto zeal.
    TheDalaiBombaKyleran
  • KnightFalzKnightFalz Member EpicPosts: 3,495
    So long as people buy into crypto gaming it isn't going anywhere.
    Kyleran
  • mekheremekhere Member UncommonPosts: 61
    Looks like all Crypto is in a freefall.  Now, I am sure that at some point there will be a weed-out and some of these will rise again.  But from a gaming perspective... is this crash enough to put an and to their inclusion in games? 

    Or is this just a blip soon to be forgotten as we get endless P2E games shoveled our way?

    For reference: ETH which many of these games were based on has fallen from a high of $4865 to $900... an 82% fall.

    Even if we disregard the player side... is it even possible to run a business when the currency you get paid in fluctuates like that?


    Let me educate you.

    the gaming developers are coders who are capable of creating their own currencies. They can even hack CoinMarketCap and manipulate the price of any coin in seconds. they all cashed out and quit. ever wonder why no games are getting made? why there is game developer stagflation?

    let's take a look at Camelot Unchained for example.... crypt kitties and gods unchained are the two crypto games they supposedly created. CU has been in development for like 15 years now. People can't even get refunds from the pay to play beta. they have crowdfunded and taken beta money and won't give it back. ever wonder why? because they invested it into crypto miners and crypto games. the senior programmers have all quit. 

    Those same devs scammed you for money and left. there not gonna make you any more games. there never coming back. they used us and like cowards, took off. new games will be developed by new college grads who never understood crypto. 

    have fun waiting for decades for your dream game. it's not going to come true.


    to answer your question.....gas fees killed pay to play crypto games because the devs let it. 
    Always be the guy that paints the house in the dark. 
  • Slapshot1188Slapshot1188 Member LegendaryPosts: 15,893
    Mark Jacobs created multiple crypto coins?  Umm…. Sorry but I don’t believe anything you posted.
    KyleranIselincameltosis

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  • kitaradkitarad Member LegendaryPosts: 7,486
    edited November 2022
    FTX put a nice nail on it. Shocking how little accounting actually went on and blatant outright theft seems to have happened.

    Crypto gaming is shitty and should remain in the toilet.
    ScotDeathkon1KyleranAndemnondragonlee66cheyaneDibdabs

  • Deathkon1Deathkon1 Member RarePosts: 822
    edited November 2022
    As long as their is at least 1 idiot that believes in this shit crypto will never die it may shrink to a smaller scale but its always gonna exist, you want an investment do stocks at least the ones you choose will be more credible then companies that do an ftx, if your trying to make sure your retirement funds survive inflation invest in gold coins, like legit man crypto isn't needed and its not even safe.
    KyleranDibdabs
    Favorite book way of the devil
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  • AndemnonAndemnon Member UncommonPosts: 113
    Crypto, NFT's, Blockchain, as a rule i give any game that has these things a wide berth, as the saying goes, you cannot cheat an honest man, but greedy people make easy targets. They prey on peoples greed, with the continuing collapse of crypto a lot of 'greedy' people are liable to find out they have nothing, but i doubt they will be happy.
    Dibdabs
  • Deathkon1Deathkon1 Member RarePosts: 822
    edited November 2022
    Lets take a look at fiat currencies (what you refer to here as "the real money"). Some parameters below: Unlimited total supply - there is no threshold as to how many units can be in existence. Unbacked - they used to be backed by hard assets (e.g. gold standard). They are not anymore. This allows central banks and these days more and more the governments, to play with the supply any way they want. Ever increasing circulating supply - the more units there are, the less value they have...and boy do they keep on printing, right. "Quantitative easing" they call it. What a noble label for effectively printing the value of your savings and of your work away. Centralization - people are forced to use fiat currencies, but they have no control over the supply. Someone else centrally decides how much value will the tokens you are forced to use have....by printing it out of thin air. You are currently experiencing probably the worst fiat crash (you were taught to call it inflation) in your lifetime, yet you are still here defending the system that exploits you and keeps you enslaved. Media tell you its because of the war, while in fact it is caused by the fact that they increased the circulating supply substantially over the last years. Google the charts yourself. Crypto fixes all of this by having limited total supply. There is a fixed number of units of the particular crypto and there cant be more. In fact, some of them are deflationary...the supply decreases over time. By being decentralized - there is no central entity playing with the value (ofc there will be hedge funds and big players affecting the market, but its not the same as someone having the right to increase the supply and let the people suffer the consequences like with fiat). Crypto gives people freedom. Mass media / state propaganda must be doing a really good job considering that you defend a fiat based system in the time period when you are getting f****d by it probably the most in your lifetime.
    I skim read so please forgive me but I see money in my account and my bank can't lie to me about me owning it I literally can see these funds at all times rather they decrease or increase in purchasing power is another thing, also for the record I know the fiat systems going to shit one day but does that mean crypto's the answer no just because you prepare for the eventual economic shit storm doesn't mean the farmer selling you food is, meaning oh you have money the loaf of bread is roughly $100 plus tax you see where this is going right supply and demand will be still in effect and if the fiat system goes to far down the rabbit hole it all goes down the rabbit hole, in other news without the fiat system crypto would not be able to sustain itself short and sweet version is when it collapses it all will collapse crypto and fiat alike. With my dwindling faith in humanity I have more faith the great reset will happen before I think we will try to fight the downward trend we are currently on, which is why I flat out stopped caring and don't invest in stock or crypto I go to work get paid and call it a day.

    Edit: Anyways I haven't slept for 2 days instead of debates I should enjoy my only off day and actually get sleep.
    Favorite book way of the devil
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  • mekheremekhere Member UncommonPosts: 61
    @coretex666
    You state that, "Crypto fixes all of this by having limited total supply. There is a fixed number of units of the particular crypto and there can't be more." <---If I create a coin, I can literally add to the supply because I own the coin. Make a coin and add it to an exchange. I promise you it's the same as paper money. You can create it forever. It's infinite. 


    You also state, "In fact, some of them are deflationary...the supply decreases over time. By being decentralized - there is no central entity."<--you sound like a crypto scammer here. This is the typical response from every scammer I have ever had the privilege of sitting with. The hacker is the middleman. The blockchain developer is the middleman. They take your money with sql injection. Then they pump more of a different coin into the system. It's the opposite of deflationary. It's hyperinflation. 

    Try harder...
    Always be the guy that paints the house in the dark. 
  • mekheremekhere Member UncommonPosts: 61
    You interpret what I said in the most ridiculous way possible and then spit out "try harder"...JFC. <---Thank you for actually trying. Kudos and a tip of the ole hat.

    "The blockchain developer is the middleman. They take your money with SQL injection. Then they pump more of a different coin into the system. It's the opposite of deflationary. It's hyperinflation."...this is such a vague comment, most likely driven by absolute lack of knowledge of blockchain and digital assets that it is difficult to respond to. <---There isn't anything vague about what I said. You can't actually respond because I'm right. Again, I reiterate, scammer response to bait my trust to keep buying and supporting crypto.

    Having said that, there are many decentralized blockchains without middlemen. <---Cite. I want to know who they are.

    it again comes down to the rules and governance of that particular blockchain. Yes, someone creates that blockchain and sets up the rules. <---This form of capitalism is causing zelle transfer fraud. It doesn't work. 

    By being decentralized - there is no central entity playing with the value (ofc there will be hedge funds and big players affecting the market, but it's not the same as someone having the right to increase the supply and let the people suffer the consequences like with fiat). Crypto gives people freedom. <---And when those people are victimized, who they go to for help? Freedom needs to be policed. 

    There are many blockchains for which the rules are set up in a way that they require the consensus of a large number of decentralized nodes to agree in order to pass a change on the blockchain or confirm a transaction making the "middleman" powerless and the blockchain decentralized. <---You just explained how a crypto transaction works and then tried to tell me there was a middleman inside the transaction. I'm kind of scratching my head here.

    Anyway, good luck, boys. I requested deletion of my account. <---why? 





    Always be the guy that paints the house in the dark. 
  • kitaradkitarad Member LegendaryPosts: 7,486
    You can delete your account yourself. No need drama just go to the front page of this site then to your profile under profile option is delete account.

  • DibdabsDibdabs Member RarePosts: 3,107
    kitarad said:
    You can delete your account yourself. No need drama just go to the front page of this site then to your profile under profile option is delete account.
    Drama Queens need their drama.
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