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Do not rug on me: Zero-dimensional Scam Detection

arxiv.org

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Re: Do not rug on me: Zero-dimensional Scam Detection

#21

Post by wildrhythms »

churchill wrote: post #19

Crypto is pitched as a decentralized alternative to central bank currencies. Which, I think, is a great idea, especially with CBDCs (which are really going to be the catalyst for fascism on steroids, especially in quasi-democracies) on the horizon. My biggest problem with crypto is that most people who buy and hold it are not truly libertarians looking to scale up usability in the space. They're really just gamblers…

What makes you believe the 'true libertarians looking to scale up usability' are not also gamblers?

Re: Do not rug on me: Zero-dimensional Scam Detection

#22

Post by lb4r »

eli wrote: post #5
mudrockbestgirl wrote: post #3

Sure, because anyone can create and list a token on Uniswap. The only cost are the gas fees. That doesn't mean those tokens have any real liquidity or are being used. Just like anyone can create a website and put it online. The only cost are the hosting fees. That doesn't mean it'll get any visitors.

Yet 97% of websites will not steal your money.

97% of emails probably will though.

Re: Do not rug on me: Zero-dimensional Scam Detection

#23

Post by themihai »

m00dy wrote: post #11

so to be speak, Uniswap is the greatest invention of the humankind. It cuts the middle man, regulators, anyone calls himself accredited. The more beautiful thing is that you just need an elementary math to understand how the pricing works.

Last time I've checked it was unusuable due the high trading fees. In theory it's great but in reality it's not really working.

Re: Do not rug on me: Zero-dimensional Scam Detection

#24

Post by RuggedPineapple »

williamcotton wrote: post #16
dannyw wrote: post #12

Earlier quoted context omitted.

Not a lot of people spend 10k or 100k on pokemon cards. Quantity matters.

There’s a decent quantity of people who buy cases upon cases of collectible cards and sell the singles online.

I strongly suspect that number is smaller then imagined. Like, a non-ironic use of the 'There are dozens of us!' line from Arrested Development.

Re: Do not rug on me: Zero-dimensional Scam Detection

#25

Post by onlyrealcuzzo »

Kiro wrote: post #14
onlyrealcuzzo wrote: post #7

What constitutes a scam? I'm about as much of an NFT hater as you can be. But people spend money on lots of "dumb" stuff. So why is an NFT a scam if Pokemon cards aren't? Both of them are artificially scarce. Both of them are mainly about buying cute pictures. And at least for a lot of the buyers, it's about speculating the price will go up in the future.

> The terms scam and malicious token are not being used identically by all researchers. For example, papers such as [44] use the terms scam and under-performing token indistinguishably, leading to inaccurate results and classifications. In the current paper, we define a malicious token as one released by a developer or a group of developers with no intrinsic value or use case. I guess the test token I put on Uniswap…

Who decides what the use case is?

Pokemon cards technically have a use case.

So do crypto kitties and smooth love potion - even if it's somehow slightly "dumber".

Re: Do not rug on me: Zero-dimensional Scam Detection

#26

Post by prvit »

eli wrote: post #5
mudrockbestgirl wrote: post #3

Sure, because anyone can create and list a token on Uniswap. The only cost are the gas fees. That doesn't mean those tokens have any real liquidity or are being used. Just like anyone can create a website and put it online. The only cost are the hosting fees. That doesn't mean it'll get any visitors.

Yet 97% of websites will not steal your money.

Are you sure? For each “real” website there were probably 100 throwaway phishing sites.

Re: Do not rug on me: Zero-dimensional Scam Detection

#27

Post by themihai »

sureglymop wrote: post #10
churchill wrote: post #2

For reference, Uniswap is a cryptocurrency exchange which uses a decentralized network protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.

Would you mind explaining that in even simpler terms?

It's an exchange developed on Ethereum platform. Basically what FTX is but without a central authority. You may wonder why people don't use Uniswap instead of FTX, Binance etc. The answer is the same reason crypto payments failed: high transaction fees.
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