Rokfin - Will we have to pay extra now to watch any actual wrestling?

[Max86]

22 hours ago, Husker_Du said:

i can see it.

call Hammerlock whatever you want (i have lol)

but the man is knowledgable and engaged and would never A) ask what content I produce or B) confuse Rokfin w/ Rudis

I was joking when I said I was not sure if Rofkin was Rudis. But it's true, I never heard of Rofkin before yesterday. And I am fine with that as it's a tiny company as far as I can tell and is much less prominent in the wrestling world than is Rudis.  And I am familiar with your moniker, though I admit I do not know why. I guess you are so famous that everyone knows.

[GreatWhiteNorth]

2 hours ago, Wrestleknownothing said:

Your Target gift card is not currency. It is like a deposit at a bank minus the FDIC insurance and any interest payments. And instead of withdrawing the cash that was deposited, you can withdraw goods. You also have credit exposure to Target. If they go bankrupt, you become an unsecured creditor.

Wait... what? That was a gift from my niece. She's got some 'splainin to do.

Ionel - what shoe shop? Maybe we can work a trade (never mind the "exposure" talk, you'll be fine, trust me)

Edited November 14, 2022 by GreatWhiteNorth

[ionel]

58 minutes ago, GreatWhiteNorth said:

 

Ionel - what shoe shop? Maybe we can work a trade (never mind the "exposure" talk, you'll be fine, trust me)

What size do you wear?  I've got a deal for you!

[GreatWhiteNorth]

1 hour ago, ionel said:

What size do you wear?  I've got a deal for you!

This size...

[Mike Parrish]

Not to reignite the forge here, but this article is a reasonably fair overview of the FTX/Alameda scam and collapse.

https://www.theguardian.com/commentisfree/2022/nov/14/why-did-one-of-the-worlds-biggest-cryptocurrency-exchanges-just-collapse

[Dynamic]

On 11/11/2022 at 4:15 PM, Husker_Du said:

It's the individual channels/creators that roundly requested the ppv option.

i won't try to convince y'all that it makes sense b/c you probably made up your mind. but it makes all the sense in the world.

and at the end of the day, if you don't subscribe normally, just consider it a $25ppv.

of course you can decide if that's too steep for ya or not. 

i would also suggest maybe considering the P&L of the events these promoters put on.

(keep in mind, i don't do ppv events so this is not me trying to defend myself)

When are we going to see a College Matscout open or Matscout HS Showcase? 

[Mike Parrish]

It. Just. Keeps. Getting. Worse.

https://www.bloomberg.com/opinion/articles/2022-11-14/ftx-s-balance-sheet-was-bad

[Husker_Du]

1 hour ago, Dynamic said:

When are we going to see a College Matscout open or Matscout HS Showcase? 

it'll happen. getting ducks in a row. 

[Husker_Du]

15 minutes ago, Mike Parrish said:

It. Just. Keeps. Getting. Worse.

https://www.bloomberg.com/opinion/articles/2022-11-14/ftx-s-balance-sheet-was-bad

Mike, you're a very very smart dude. 

you also have your mind made up and like to poo poo crypto.

viable projects will work and be sustainable. those that are a shell game will be gone.

if you don't believe that, you don't. i respect you.

but i believe it. i'm literally living in the world that works. 

[Mike Parrish]

1 minute ago, Husker_Du said:

Mike, you're a very very smart dude. 

you also have your mind made up and like to poo poo crypto.

viable projects will work and be sustainable. those that are a shell game will be gone.

if you don't believe that, you don't. i respect you.

but i believe it. i'm literally living in the world that works. 

Read that article.

It isn't about the underlying crypto tech, it's about the frauds and snakes who run the companies.

Edited November 14, 2022 by Mike Parrish

[ionel]

1 minute ago, Husker_Du said:

it'll happen. getting ducks in a row. 

a wrestling event with a row of ducks, is that a good thing? 

[Husker_Du]

1 minute ago, Mike Parrish said:

Read that article.

all investment based.

real projects certainly have investments, but the viable ones have legitimate application. RAE does. 

there are those based on speculation, and those (far fewer) based on front-facing product.

the reason many poo-poo crypto is b/c most of them are indeed scams and schemes. 

y'all are just not familiar enough to form an intelligent position and i'm not trying to be insulting about that.

[AKHUNTER]

56 minutes ago, Husker_Du said:

all investment based.

real projects certainly have investments, but the viable ones have legitimate application. RAE does. 

there are those based on speculation, and those (far fewer) based on front-facing product.

the reason many poo-poo crypto is b/c most of them are indeed scams and schemes. 

y'all are just not familiar enough to form an intelligent position and i'm not trying to be insulting about that.

Warren Buffet has a position

[Wrestleknownothing]

1 hour ago, Mike Parrish said:

It. Just. Keeps. Getting. Worse.

https://www.bloomberg.com/opinion/articles/2022-11-14/ftx-s-balance-sheet-was-bad

Matt Levine is the absolute best. He quoted me once. I can die a happy man.

[GreatWhiteNorth]

6 hours ago, Husker_Du said:

all investment based.

real projects certainly have investments, but the viable ones have legitimate application. RAE does. 

there are those based on speculation, and those (far fewer) based on front-facing product.

the reason many poo-poo crypto is b/c most of them are indeed scams and schemes. 

y'all are just not familiar enough to form an intelligent position and i'm not trying to be insulting about that.

Every "useful" application of crypto I've seen has been the criminal/shady/bloodsucker variety (aka scams/schemes.)

At one time, after Bitcoin/Dogecoin and the like had gotten going, there was a group of banks & tech companies that was being formed to create a new type of digital currency. I don't recall who exactly was involved off hand, but something like Wells Fargo, Citi, US Bank, Google, Facebook, etc. Big companies with the potential to bring digital currency to the mainstream. Looked promising. Then, without warning or explanation, the group dissolved. Speculation at the time was that they came to the conclusion that there was no useful purpose to move forward because the digital currency risk exceeded any potential advantage. At the time, digital currency wasn't much of a solution because it didn't solve any legitimate problems.

So - for these "legitimate" applications you speak of, that aren't shady. There is still a question that I have yet to see be well answered.

Why not use traditional currency?

 

[ionel]

6 hours ago, Wrestleknownothing said:

Matt Levine is the absolute best. He quoted me once. I can die a happy man.

This really hurts Wkn, I've quoted you more times than I can count. 

[Wrestleknownothing]

43 minutes ago, GreatWhiteNorth said:

Every "useful" application of crypto I've seen has been the criminal/shady/bloodsucker variety (aka scams/schemes.)

At one time, after Bitcoin/Dogecoin and the like had gotten going, there was a group of banks & tech companies that was being formed to create a new type of digital currency. I don't recall who exactly was involved off hand, but something like Wells Fargo, Citi, US Bank, Google, Facebook, etc. Big companies with the potential to bring digital currency to the mainstream. Looked promising. Then, without warning or explanation, the group dissolved. Speculation at the time was that they came to the conclusion that there was no useful purpose to move forward because the digital currency risk exceeded any potential advantage. At the time, digital currency wasn't much of a solution because it didn't solve any legitimate problems.

So - for these "legitimate" applications you speak of, that aren't shady. There is still a question that I have yet to see be well answered.

Why not use traditional currency?

 

For Rokfin RAE works very much like shares of stock. In that way it has a different reward profile than cash. In addition to creators getting paid in RAE, others can buy the currency as a bet on the success of Rokfin. Rokfin even has a form of stock buyback (burning) designed to increase the value of the currency.

This is, I think, different from what Willie is talking about with regard to Rokfin's revenue sharing model that gives greater control and agency to creators.

[Mike Parrish]

2 minutes ago, Wrestleknownothing said:

For Rokfin RAE works very much like shares of stock. In that way it has a different reward profile than cash. In addition to creators getting paid in RAE, others can buy the currency as a bet on the success of Rokfin. Rokfin even has a form of stock buyback (burning) designed to increase the value of the currency.

This is, I think, different from what Willie is talking about with regard to Rokfin's revenue sharing model that gives greater control and agency to creators.

It's the same mechanism that FTX used with their FTT tokens.
They're a bet against future earnings.

Read the article.
https://www.bloomberg.com/opinion/articles/2022-11-14/ftx-s-balance-sheet-was-bad

Edited November 15, 2022 by Mike Parrish

[Wrestleknownothing]

6 minutes ago, ionel said:

This really hurts Wkn, I've quoted you more times than I can count. 

Senator, I served with Jack Kennedy. I knew Jack Kennedy. Jack Kennedy was a friend of mine. Senator, you're no Matt Levine.

[Wrestleknownothing]

3 minutes ago, Mike Parrish said:

It's the same mechanism that FTX used with their FTT tokens.
They're a bet against future earnings.

Read the article.
https://www.bloomberg.com/opinion/articles/2022-11-14/ftx-s-balance-sheet-was-bad

I read Levine every day. Yes, it is the same mechanism that many, many, many tokens (almost all) use. As I said (and as Levine says in the article), it is a bet on the company/project. And some times that is a bad bet. But worst of all is that in FTXs case depositors probably thought they had precedence in liquidation (like with a bank), but in the crypto world equity investors always put their claims in front of creditors. I have little sympathy for people who invest in things they don't understand until they learn the lesson the hard way.

[GreatWhiteNorth]

22 minutes ago, Wrestleknownothing said:

For Rokfin RAE works very much like shares of stock. In that way it has a different reward profile than cash. In addition to creators getting paid in RAE, others can buy the currency as a bet on the success of Rokfin. Rokfin even has a form of stock buyback (burning) designed to increase the value of the currency.

This is, I think, different from what Willie is talking about with regard to Rokfin's revenue sharing model that gives greater control and agency to creators.

Yes, I understand that. Yet my question still goes unanswered. It's not a difficult one.

Traditional currency would work fine for Rokfin's financial transactions. Yet they choose to use RAE. Some seem to think that proves that RAE legitimizes the use of crypto. It doesn't. Again, "Why not use traditional currency?" The context of the question is important here - why choose to add risk (crypto) when a stable option (traditional) is readily available.

My point is that crypto currency isn't solving any problems. It is, however, provably creating them.

"Straight cash, homey."

[GreatWhiteNorth]

On 11/13/2022 at 4:06 PM, Wrestleknownothing said:

Your Target gift card is not currency. It is like a deposit at a bank minus the FDIC insurance and any interest payments. And instead of withdrawing the cash that was deposited, you can withdraw goods. You also have credit exposure to Target. If they go bankrupt, you become an unsecured creditor.

... oh wait, you were serious here? Thought you were joking around. Ionel makes it easy to know, he adds the little smiley faces. Nice of him. Good guy, that Ionel.

Yes. The Target gift card is absolutely a form of currency. FIFY

Just not a fiat currency, nor a Fiat currency...

Edited November 15, 2022 by GreatWhiteNorth

[BerniePragle]

FYI... I have been putting my (previously) hard earned retirement assets into Rigatoni and Chocolate Peanut Butter Ice Cream.  It has shown a healthy(?) return.  So much so that I have been looking at Salad futures.

[Wrestleknownothing]

6 hours ago, GreatWhiteNorth said:

... oh wait, you were serious here? Thought you were joking around. Ionel makes it easy to know, he adds the little smiley faces. Nice of him. Good guy, that Ionel.

Yes. The Target gift card is absolutely a form of currency. FIFY

Just not a fiat currency, nor a Fiat currency...

Nope, nope, nope, nope. The cash that was given to Target is currency. The gift card is not. The cash you give your bank is currency. Your ATM, debit, and credit cards are not.

[Wrestleknownothing]

7 hours ago, GreatWhiteNorth said:

Yes, I understand that. Yet my question still goes unanswered. It's not a difficult one.

Traditional currency would work fine for Rokfin's financial transactions. Yet they choose to use RAE. Some seem to think that proves that RAE legitimizes the use of crypto. It doesn't. Again, "Why not use traditional currency?" The context of the question is important here - why choose to add risk (crypto) when a stable option (traditional) is readily available.

My point is that crypto currency isn't solving any problems. It is, however, provably creating them.

"Straight cash, homey."

Ok, I will be even more explicit. Rokfin pays in RAE for the same reason that companies sometimes pay their employees in company stock, it is a cost effective and tax efficient way for Rokfin to fund its operations. Yes, it is a risky way to receive your compensation, but clearly some are ok with the risk.