• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

a example what we referred to, blockchain possibilities

ds_mustang

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Two words:

Bernie.

Madoff.
The sales pitch is filled with testimonials, not with any legal or other guarantee of principal or explanation of HOW, and how not to be swindled by the holders of your money.

It's nothing like Madoff's scheme. DeFi is completely transparent. You can see exactly what is done and how it works. You can even see everything about the protocol... how many loans it has made, how much of the loans are paid back so far, yields being made, etc.

I'm not saying it's risk free, there are risks. But it's transparent and not a scam.

The video also explains HOW. How can you say it doesn't when it spends most its time doing exactly that? It's not difficult to understand. Your loan collateral is invested and returns are used to pay back the loan over time.
 
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Casey Jones

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I've seen and heard dozens of sales pitches over my life. My old man was a salesman. I had Navy friends who got into one of those Amway sub-companies...Worldwide Dream Builders.

Testimonials mean nothing. Promises of toys mean nothing.

Mechanics mean something. When I deposit money in a bank, I either have legal ownership (as in the past) or do not (recent court rulings). But I understand. There is a record - I put money there and by the deposit agreement, I am to be given consideration when demanding it back.

When I buy stock, I am buying a fractional share of the company, denoted by the stock share, vice the total shares allocated. I own one-millionth of National Widget Limited.

When I deposit that $50k into these people's mitts (sure, they use vault imagery; that's meaningless) I'm only trusting that the Ponzi scheme will stay running longer than it takes me to get the promised return. Madoff's early gulls did okay, too.
 

Unca Walt

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It's nothing like Madoff's scheme. DeFi is completely transparent. You can see exactly what is done and how it works. You can even see everything about the protocol... how many loans it has made, how much of the loans are paid back so far, yields being made, etc.

I'm not saying it's risk free, there are risks. But it's transparent and not a scam.

The video also explains HOW. How can you say it doesn't when it spends most its time doing exactly that? It's not difficult to understand. Your loan collateral is invested and returns are used to pay back the loan over time.
I think what Casey means is that it can be honest and straightforward, aboveboard and straight-arrow... and be a Madoff scheme.

The Tulpenwindhandel was wide open and fair. But it required an ever-rising number of people/wealth involved to work... until one day... it didn't.
 

Casey Jones

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It's nothing like Madoff's scheme. DeFi is completely transparent. You can see exactly what is done and how it works. You can even see everything about the protocol... how many loans it has made, how much of the loans are paid back so far, yields being made, etc.

I'm not saying it's risk free, there are risks. But it's transparent and not a scam.

The video also explains HOW. How can you say it doesn't when it spends most its time doing exactly that? It's not difficult to understand. Your loan collateral is invested and returns are used to pay back the loan over time.
As Walt noted; and, another issue.

Who is AUDITING this? You have only the word of the person who is taking your money, that this is how the operation is working, how many, how much, etc, ad nauseum.

Run, don't walk.
 

ds_mustang

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I've seen and heard dozens of sales pitches over my life. My old man was a salesman. I had Navy friends who got into one of those Amway sub-companies...Worldwide Dream Builders.

Testimonials mean nothing. Promises of toys mean nothing.

Mechanics mean something. When I deposit money in a bank, I either have legal ownership (as in the past) or do not (recent court rulings). But I understand. There is a record - I put money there and by the deposit agreement, I am to be given consideration when demanding it back.

When I buy stock, I am buying a fractional share of the company, denoted by the stock share, vice the total shares allocated. I own one-millionth of National Widget Limited.

When I deposit that $50k into these people's mitts (sure, they use vault imagery; that's meaningless) I'm only trusting that the Ponzi scheme will stay running longer than it takes me to get the promised return. Madoff's early gulls did okay, too.
The mechanics are explained in the video. You put $50k into the protocol. When you take a loan, the protocol "mints" $25k (out of thin air) of a newly created stablecoin and gives it to you (which you can sell to get cash to buy a boat or whatever). Meanwhile the protocol invests your original $50k into another protocol which makes a return on that $50k. Those returns eventually pay off the $25k stablecoin loan, which you never need to pay back. In a few years you can withdraw your original $50k.
 

ds_mustang

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As Walt noted; and, another issue.

Who is AUDITING this? You have only the word of the person who is taking your money, that this is how the operation is working, how many, how much, etc, ad nauseum.

Run, don't walk.
The protocol is a program. It's code, and it's public and on the blockchain. Anyone can read it and how it works. Since most people can't read the code, creators of DeFi protocols usually get them audited from 3rd party auditors, usually multiple auditors. The audit reports are usually made public on the protocol website. The Alchemix website links to an audit done on their code at their website.

Again I'm not recommending Alchemix. The Alchemix protocol had a bug early on that lost some money out of the protocol. And the protocol uses other protocols (to make the returns which pay off the loans) which further increases risks. But it is interesting and worth looking at to see what is possible in DeFi.

Meanwhile people have put around $460 million into the protocol (according to defipulse.com) and taken out self-paying loans for boats, cars, or whatever. These things are happening whether you understand them or not. Crypto markets are largely unregulated and free--with all sorts of crazy things going on. Personally, I LIKE that. You might not, and that's fine too.
 
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specsaregood

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That, and that it's a dead, dying, art form.
hardly.

How many people are in movie theatres these days?
Lots of money has been made on movies that were direct to video or direct to streaming nowadays.

What VIEWERS want, doesn't MATTER. It's what the key people in the industry want. THEY control distribution - to theatres (the few that are open) and through streaming and RedBox, whatever other outlets there are.
Distribution is even easier than ever nowadays with streaming options. And promotion as well with social media.

It's just an idea we were batting around as I have family that is a talented filmmaker.
 

Casey Jones

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hardly.


Lots of money has been made on movies that were direct to video or direct to streaming nowadays.


Distribution is even easier than ever nowadays with streaming options. And promotion as well with social media.

It's just an idea we were batting around as I have family that is a talented filmmaker.
I have read several accounts from accomplished writers, screenwriters and producers, of how hard it is to get a green light on an idea - for the completely-irrelevant issue of personal political views.

Andrew Klavan, who's written a handful of crime-drama novels and some screenplays...a success by any measure...found Jesus in a personal crisis, became an active Christian, and tried to resume his world.

He became a Trump supporter. After, even as a conservative, mocking trump in several of his video shorts, "Klavan on the Kulture."

But then. As a Trump supporter and new podcaster, he also wrote a book, of a kind new to him. A book without the gritty sex he was used to writing. Not a Christian book, he stressed that - his characters cursed; were in compromising situations; referenced graphic matters in dialogue. But it wasn't focused on evil and vice; but rather good and evil, the internal struggle of a maturing young man. Overlain with fantasy elements - you can see computer games, along with some Stephen King, come out.

He put it into screenplay form and pitched it. In three presentations in studio offices, the conversation would open with, how bad is that @#$% DRUMPF! Klavan would nod, noncommitally.

The interviewer would press. Klavan would say something like, I'm not sure I agree with that, but really, that sort of thing isn't in my screenplay. I think audiences would rather escape from politics and street conflict for a few hours.

Faces would ice over; he'd make his presentation, be thanked, frostily, and would never hear back.

The other case...which I could remember her name, but she became religiously active after having a teen daughter slip into drugs and have to be kidnapped and deprogrammed. She was Jewish, and gay-friendly, all necessary attributes to selling scripts...but all of a sudden, she's anti-drug and pro-God. Killed her career.

She wrote bluntly about that: Being either Jewish or homosexual, or having strong ties with one of those two communities, was essential.

What does that have to do with telling a good story? Nothing, obviously. Except that entrants, that is, successful screenwriters (and actors and producers, and probably, grips) have to meet with the approval of insiders.
 

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The video also explains HOW. How can you say it doesn't when it spends most its time doing exactly that? It's not difficult to understand. Your loan collateral is invested and returns are used to pay back the loan over time.

If I have this right, you put up some dough, then when they make a return on that, it is used to retire your loan, with you eventually getting your dough back.

Conversely, you could take your dough, not take any loans on it, and keep the returns it generates to increase your stash, through whatever investments you make.

There is something a bit different here though. If you have 75k in Ether, and you put that up as collateral for a 50k loan. They use the Ether to make gains on over the period, and in the end you get your Ether back. One of the promises would be that you have no intention of selling your Ether anyway, and expect that 5 yrs from now it will be worth far more. So you take the loan, pay it back with those gains, and get your much higher valued Ether back later.

In a nutshell that is the difference.

Let's say you own the equivalent in joozon stock. You find a bank to lend you that same 50 against it (not likely). In the meantime, you have to make those payments over time to release the collateral eventually.
 

Unca Walt

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Casey -- You may possibly remember this from back in the Olden Days... But I came so close! This quote woke up the memory:

"I have read several accounts from accomplished writers, screenwriters and producers, of how hard it is to get a green light on an idea - for the completely-irrelevant issue of personal political views."

My novel, The Cadet -- The Adventures of a New World Pioneer in the 17th Century was going to be made into a 3-part miniseries.

Wasn't anything I said, but the Dot-Com bust got it canceled (*sob*).
 

ds_mustang

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If I have this right, you put up some dough, then when they make a return on that, it is used to retire your loan, with you eventually getting your dough back.

Conversely, you could take your dough, not take any loans on it, and keep the returns it generates to increase your stash, through whatever investments you make.

There is something a bit different here though. If you have 75k in Ether, and you put that up as collateral for a 50k loan. They use the Ether to make gains on over the period, and in the end you get your Ether back. One of the promises would be that you have no intention of selling your Ether anyway, and expect that 5 yrs from now it will be worth far more. So you take the loan, pay it back with those gains, and get your much higher valued Ether back later.

In a nutshell that is the difference.

Let's say you own the equivalent in joozon stock. You find a bank to lend you that same 50 against it (not likely). In the meantime, you have to make those payments over time to release the collateral eventually.
Unlike the Liquity over-collateralized lending protocol which I've discussed here before, Alchemix collateral for loans must be in DAI, which is a dollar stablecoin. So both the collateral and loaned money are in "dollars." There's no tax advantages from avoiding selling appreciated ETH like with Liquity, nor will the collateral go up in value like ETH would.

The interesting part of the protocol IMO is your FULL amount of collateral (in DAI) is working to pay off your loan even though you borrowed out up to half of the value of the collateral! It's like being able to spend $25k out of $50k of savings while still having the full $50k invested and making returns. That little impossibility is possible because the protocol mints an entirely new $25k in a new stablecoin when you borrow money out.

There are fees extracted by the protocol, so it would be more efficient to just invest the $50k yourself until you make $25k then spend the $25k, but then you'd have to wait a few years before you can spend rather than getting it immediately.
 

specsaregood

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I have read several accounts from accomplished writers, screenwriters and producers, of how hard it is to get a green light on an idea - for the completely-irrelevant issue of personal political views.
But that is exactly the point! The idea we were batting around was using crypto as a way to get funding so you can green light your own project. And give anybody the ability to directly fund and hopefully directly profit from it. You wouldn't need big production houses to approve.
 

ds_mustang

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But that is exactly the point! The idea we were batting around was using crypto as a way to get funding so you can green light your own project. And give anybody the ability to directly fund and hopefully directly profit from it. You wouldn't need big production houses to approve.
Unfortunately most crypto lending in DeFi is overcollateralized, so you have to already have the money you'd need as collateral to borrow against. If you want someone to take a risk on you and give you money without collateral, you still need the legacy financial system at this time. Maybe one day there will be DeFi lending protocols that will lend to you without collateral based on a trust rating (maybe made by examining your wallet history), or having a "co-signer" or something, but right now I'm not aware of anything like that.
 
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Casey Jones

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Casey -- You may possibly remember this from back in the Olden Days... But I came so close! This quote woke up the memory:

"I have read several accounts from accomplished writers, screenwriters and producers, of how hard it is to get a green light on an idea - for the completely-irrelevant issue of personal political views."

My novel, The Cadet -- The Adventures of a New World Pioneer in the 17th Century was going to be made into a 3-part miniseries.

Wasn't anything I said, but the Dot-Com bust got it canceled (*sob*).
I weep for you, Unk. That would have been a grand season-long series...maybe even lengthened.

But, remember, that was almost a whole generation back. What was it, 2005? Things have changed. Everything is now politics; and the Queer Mafia has made major conquests in those 16 years.

So much good stuff has been left discarded, and - frankly - the authors or creators left in the mire or even gone, age and time. A 27-year-old with tremendous talent, who cannot sell his first script, or second in his briefcase...is not going to keep on banging his head against a wall. He'll find something else...since novels are now not a big item, because the monopoly publisher is Amazon and they screen for PC politics...that kid will do something else. Get a job writing ad copy for someone. Or maybe just...I dunno...go drive trains at night. :don't know:

It is what it is. The phrase on my mind this morning is, "monopoly culture." It's a world of mass consumption with products dumbed down to the lowest common denominator...no quality, no innovation, no seeking out those with differing tastes. Mediocre low-quality items to appeal to the broadest base. Blob cars, bland processed food, clothing that falls apart after three washes...cookie-cutter apartments, listed in Zillow. Payment only by EFT out of your bank account.

Nothing much you can do. Someone you, and I, knew on another board...a woman who led an horrific life as an abused child, then a gang member, and finally became a lawyer...she set down to write her story. I haven't read it. No one has - she isn't selling it and won't show it. While she was doing it, she talked about what she was exorcising. A very brutal life and world.

Whether her estate executors will try to sell it, remains to be seen. I'd imagine it's a gripping story; but she's not doing it to publish it.

That's what happens with artists in this mass-consumption trash culture Clown World we're now in.
 

Casey Jones

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But that is exactly the point! The idea we were batting around was using crypto as a way to get funding so you can green light your own project. And give anybody the ability to directly fund and hopefully directly profit from it. You wouldn't need big production houses to approve.
Well, I wish you luck.

But starting a new movie-production house - complete with distribution channels - is akin to starting a new car company. The barriers to entry are so high, now, that it's well-nigh impossible.

Only Disney could do it, and only by spinning off part of their studio network to create new brands like Touchstone. Or connected pedophiles, who could get the blessing and even money from other studios.

It's another mark of a mature, declining business. Again, like the auto biz - GM could create Saturn (even though it failed for lack of buyers and poor management) but there won't be another startup like King Midget or AMC.

The days of an outsider like (1960) Toyota or (1995) Kia coming in, are over. Likewise, television and movies.
 

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But starting a new movie-production house - complete with distribution channels - is akin to starting a new car company. The barriers to entry are so high, now, that it's well-nigh impossible.

On a sidenote, I'm rather fond of the result of what happened to Mel Gibson. he got black balled by distributors for his Passion movie. Most distributors, collect a % of profit, making more when a movie is successful. Since he was blackballed, he ended up having to go with a budget distributor that collected a straight fee. Because of that, he made a LOT more money off the film's success and the big distributors got nothing. He took that money and bought a big movie chain, meaning anything he produces in the future automatically can be distributed to hundreds of his own theatres.
 

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Lots of money has been made on movies that were direct to video or direct to streaming nowadays.

For every stream through the official channels, there are at least 10,000 done via unofficial channels. Ask me how I know Amazon, Apple, Netflix et al are fuming they can do nothing to stop that.

My novel, The Cadet -- The Adventures of a New World Pioneer in the 17th Century

Is it something available for reading somewhere Walt?
 

Unca Walt

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For every stream through the official channels, there are at least 10,000 done via unofficial channels. Ask me how I know Amazon, Apple, Netflix et al are fuming they can do nothing to stop that.



Is it something available for reading somewhere Walt?
You betcha. I'll put a link here. If you click on the link, and click on the picture of the book, you can read five chapters to see if you like it. That's me on the cover, BTW. We were in the Rijksmuseum doing research, and when they found out I was a Prodigal 11-times grandson returning, they treated Herself and me like rock stars! TINS.

The shut down the joint. Dressed me up in 17th Century Amsterdam Militia clobber, and dusted my hands. Then with white gloves on, they took the wheellock that had been Jan's, and placed it in my hands and tooken a picture. Spooky feeling, holding a gun that had been held by my 11X grampa. You can see this gun in Rembrandt's Night Watch.

NACHT.JPG


That Dircksen de Roy guy... you'll meet him later.

Hah. Damn' near fergot to put the link in...


(*snork*) ALL e-books have requests to rate the books. Every one of them. Except any of mine. I am too stupid. :don't know:So if you happen to wildly splurge the equivalent of 3/4 gallon of gas... write a review, willya? :beer:

The novel nevertheless has received ratings that are really kinda kewl.

The lowest rating -- the guy says it was wonderful, and he'll have his kid read it when he gets older.
The one complaint -- at 562 pages, it was too short.
 
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Unca Walt

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An addendum to the above. The Cadet is unique, in my knowledge, in that every character depicted is real. The events all happened as depicted. Only descriptions, settings, and dialog were invented by Your Humble Obdn't &tc.
 

chieftain

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Reading the Amazon description, you did a genealogy of your family. How far back were you able to go?
 

Unca Walt

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Reading the Amazon description, you did a genealogy of your family. How far back were you able to go?
We've got rent receipts from Frau Gamholz in the Duchy of Oldenberg in 1605. Jan's father (my 12x) was named Gerdt and was a leatherworker/shoemaker there.

Starting with Jan, we know everyone who was in the Family or married into the Family since then. So if you gimme your granma's maiden names, and/or yer grampa's... I might be able to tell you if you are a (*shudder on you*) cousin.

Waitaminnit. I was just going to pick up a fargin copy of The Cadet to check the dates and stuff. When you to to Page One of the novel, you'll know how far back I got.
 

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it's not unlikely the whole crypto mania is a trojan horse, run by our favorite int'l bankers/communists

i can see each person assigned a crypto ledger. a major upgrade to the spy grid that supports the communist 'social credit' agenda

as speculated on at gim2. crypto fags = vaxx fags? played for fools by the int'l banker?


The World Health Organization has just released a guiding document for a digital vaccine certificate that will be blockchain based. This will be used to implement a vaccine passport in every country. It’s funded by the Bill & Melinda Gate’s Foundation & Rockefeller Foundation.
 

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crypto is a tool of the communists -- rollout started for crypto vaccine passports

=====================================

'On 1 October 2020, the Estonian Government confirmed its partnership with the World Health Organization (WHO) for a blockchain-based COVID-19 vaccination certificate solution, as Bloomberg reported.

'Estonian enterprise blockchain firm Guardtime, now headquartered in Switzerland, will lead the pilot, firstly testing the possibility of a global scale platform in ‘pathfinder countries.’'

 

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Interesting. We will all be registered on blockchain. They don't just want to track money, they want to track us.
 

Unca Walt

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Interesting. We will all be registered on blockchain. They don't just want to track money, they want to track us.
Didja hear about the Patent granted for a vaxx world-wide identification system?
 

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Smells like another scam by left coast software execs to justify their jobs. Will do the same job as software today, but with more bugs, more complexity, fewer benefits, slower, require more storage and faster hardware and at 10x the price…..but it’s CUTTING EDGE MAN!!!!!
 

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crypto is a tool of the communists -- rollout started for crypto vaccine passports

=====================================

'On 1 October 2020, the Estonian Government confirmed its partnership with the World Health Organization (WHO) for a blockchain-based COVID-19 vaccination certificate solution, as Bloomberg reported.

'Estonian enterprise blockchain firm Guardtime, now headquartered in Switzerland, will lead the pilot, firstly testing the possibility of a global scale platform in ‘pathfinder countries.’'

Blockchains are decentralized public ledgers. They can be used by anyone. If there was a way to stop the commies from using a blockchain, then that blockchain would be centralized and censorable, and not something I'd want a part of for the same reasons I don't like communism. Freedom means freedom for everyone, even people you don't like.