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And I'm not saying that to defend crypto, I hate that shit. I'd rather buy a pet rock.
This isn't necessarily a praise/defense of crypto currencies. At large, I confess I don't understand what value they have if it isn't reflected outside the chain they are counted in. I just don't understand this take on trying to find intrinsic value of it. There is none. Same as the paper in my wallet.
I do find the artificial scarcity of in game items amusing. The scarcity is, essentially, required for many of the plot points in so many novels. When it starts happening, though, we rightly recoil at the absurdity of it.
We all started off enthused about cryptocurrency and then the Wolf of Wall Street types co-opted it and ruined it for everyone pulling off the most sophisticated Ponzi schemes in history. The only use-case for it now is for the criminal underworld (who have to somehow convert to fiat privately using novel techniques, and that gets harder with regulation and sanctions and outright banning of tumbler systems).
We all started off enthused about cryptocurrency and then the Wolf of Wall Street types co-opted it and ruined it for everyone pulling off the most sophisticated Ponzi schemes in history. The only use-case for it now is for the criminal underworld (who have to somehow convert to fiat privately using novel techniques, and that gets harder with regulation and sanctions and outright banning of tumbler systems).
This isn't about cryptocurrency at all. It's about the obviously bad idea of transferable digital in-game goods [sold for cryptocurrency]. You don't need the crypto part to see why it's not a good idea, although the model described here (selling loot to other players?) is not the extremely silly one I've heard more often (buy a CSGO skin and wear it in other games!).
Once you've crossed the line of purchasable in-game goods, transferable isn't silly.
If you mean transferable as in able to sell an in game asset to another player, Valve has offered that for at least a decade.
> "It's not just the currency that sets the value of the goods. It's the goods in the aggregate that set the value of the currency." The currency would ideally facilitate trade. Even if it's not baked in it evolves. I remember Diablo 2 people would trade using a particular rare ring (Stone of Jordon). It was essential as you might find rare items that don't fit your character configuration Ideally crypto would facili…
WUG? SOJs
Thaught me about specialization, trade, trolls and creativity. I had a buddy research hacks and would just ping me to join a game, watch him drop some items, exits and enters a few times and came back with dup items that he would share. It was one of my first forays in trying to find exploits and the excitement associated with it
We all started off enthused about cryptocurrency and then the Wolf of Wall Street types co-opted it and ruined it for everyone pulling off the most sophisticated Ponzi schemes in history. The only use-case for it now is for the criminal underworld (who have to somehow convert to fiat privately using novel techniques, and that gets harder with regulation and sanctions and outright banning of tumbler systems).
Not so ironic ; wolf of wall street was funded by the billions stolen from Malaysia's pension funds and they threw huge parties and orgies in Vegas and paid off massive amount of douche-bag celebrities, including DiCaprio (who himself was a victim of trafficking in hollwood as a kid) as well as a bunch of other actors....
The wolf of wallstreet is basically the Inception of fraud IRL.
We all started off enthused about cryptocurrency and then the Wolf of Wall Street types co-opted it and ruined it for everyone pulling off the most sophisticated Ponzi schemes in history. The only use-case for it now is for the criminal underworld (who have to somehow convert to fiat privately using novel techniques, and that gets harder with regulation and sanctions and outright banning of tumbler systems).
https://blog.chainalysis.com/reports/2023-crypto-crime-repor...
Never heard of this guy before, but why would a writer with a career that has no relationship whatsoever with tech (beside fictional writing) reach #1 post on HN for a tech-related topic? And I'm not saying that to defend crypto, I hate that shit. I'd rather buy a pet rock.