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

[Husker_Du]

that's a pretty fair, though simplistic, assessment.

[BerniePragle]

1 hour ago, Wrestleknownothing said:

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.

I read this article on RAE:

https://rokfin.medium.com/why-content-creators-are-compensated-in-rae-tokens-de60423d1168

Under the heading "Dynamic value" was the following:
"Content creators who join a platform early play a vital role in the growth of the platform and its network more so than content creators who join a platform after it has gained scale."

Isn't this the textbook definition of a pyramid scheme?
Yes, I realize the early employees of Microsoft, Google, and many before them became extremely wealthy.

This is the point where I employ Scott Adams' "Which is more likely?" test.

[Corby]

1 hour ago, BerniePragle said:

I read this article on RAE:

https://rokfin.medium.com/why-content-creators-are-compensated-in-rae-tokens-de60423d1168

Under the heading "Dynamic value" was the following:
"Content creators who join a platform early play a vital role in the growth of the platform and its network more so than content creators who join a platform after it has gained scale."

Isn't this the textbook definition of a pyramid scheme?
Yes, I realize the early employees of Microsoft, Google, and many before them became extremely wealthy.

This is the point where I employ Scott Adams' "Which is more likely?" test.

Willie already told you that the PPV model was his idea. He was mad that 1 off events would make tons of $ and get huge portions of the next mint while he puts up content daily. So he pitched a PPV model to benefit himself.  He told you all of this in his posts. 

[ionel]

6 minutes ago, Corby said:

Willie already told you that the PPV model was his idea. He was mad that 1 off events would make tons of $ and get huge portions of the next mint while he puts up content daily. So he pitched a PPV model to benefit himself.  He told you all of this in his posts. 

Nothing wrong with entrepreneurs making money, just need to be sure and listen to the customers.

[Wrestleknownothing]

1 hour ago, BerniePragle said:

I read this article on RAE:

https://rokfin.medium.com/why-content-creators-are-compensated-in-rae-tokens-de60423d1168

Under the heading "Dynamic value" was the following:
"Content creators who join a platform early play a vital role in the growth of the platform and its network more so than content creators who join a platform after it has gained scale."

Isn't this the textbook definition of a pyramid scheme?
Yes, I realize the early employees of Microsoft, Google, and many before them became extremely wealthy.

This is the point where I employ Scott Adams' "Which is more likely?" test.

While there are many token projects whose explicit business model is "haha, let's run a pyramid scheme", I do not think Rokfin qualifies as one because it has an actual business with actual customers who pay actual money. The Dynamic value piece is really just a different model for divvying up the revenue and maintaining ownership of content.

[BerniePragle]

26 minutes ago, Wrestleknownothing said:

While there are many token projects whose explicit business model is "haha, let's run a pyramid scheme", I do not think Rokfin qualifies as one because it has an actual business with actual customers who pay actual money. The Dynamic value piece is really just a different model for divvying up the revenue and maintaining ownership of content.

I will yield to your much superior financial knowledge in this.  You know I'm a simple man. I throw the ball up, it comes down.  Heck, I even remember when banks would give you a toaster to open a checking account. 

Time will tell. 

[Husker_Du]

1 hour ago, Corby said:

Willie already told you that the PPV model was his idea. He was mad that 1 off events would make tons of $ and get huge portions of the next mint while he puts up content daily. So he pitched a PPV model to benefit himself.  He told you all of this in his posts. 

yeah. no. 

that's not how it happened. it wasn't my idea at all. 

though i wish it were b/c it works great.

nice of you to lie again, though.

[Mike Parrish]

Looks like the SEC may be getting ready to get involved.

https://www.wsj.com/articles/ftx-collapse-sets-back-crypto-agenda-in-washington-11668434402

[Husker_Du]

crypto, until this point, has been the wild west.

i would welcome regulation (i think), and i'm typically not a regulation guy

[Mike Parrish]

22 minutes ago, Husker_Du said:

crypto, until this point, has been the wild west.

i would welcome regulation (i think), and i'm typically not a regulation guy

It's hard to have much confidence in the current situation.
Until there's some stability, I don't see things changing either.

[Wrestleknownothing]

46 minutes ago, Husker_Du said:

crypto, until this point, has been the wild west.

i would welcome regulation (i think), and i'm typically not a regulation guy

What a wild take given the original case for crypto involved freedom from regulation. Alas crypto is just re-learning all things that have already been learned in traditional finance, but doing it at hyper-speed.

[BerniePragle]

9 minutes ago, Wrestleknownothing said:

What a wild take given the original case for crypto involved freedom from regulation. Alas crypto is just re-learning all things that have already been learned in traditional finance, but doing it at hyper-speed.

Nobody wants laws until the guy next door starts playing his drums on the porch at 2am.

[Wrestleknownothing]

4 minutes ago, BerniePragle said:

Nobody wants laws until the guy next door starts playing his drums on the porch at 2am.

Dude, is that you out there?

[Husker_Du]

1 hour ago, Wrestleknownothing said:

What a wild take given the original case for crypto involved freedom from regulation. Alas crypto is just re-learning all things that have already been learned in traditional finance, but doing it at hyper-speed.

yeah, ya know what, i rescind that take lol.

i don't want any regulation.

but one thing that you seem to keep sidestepping in your 'crypto-will-never-work' rhetoric is the FACT that many of these failing projects and exchanges are either based on nothing tangible, corrupt, or both.

there are those that have value and make sense. 

[Mike Parrish]

11 minutes ago, Husker_Du said:

yeah, ya know what, i rescind that take lol.

i don't want any regulation.

but one thing that you seem to keep sidestepping in your 'crypto-will-never-work' rhetoric is the FACT that many of these failing projects and exchanges are either based on nothing tangible, corrupt, or both.

there are those that have value and make sense. 

The algorithm for sorting them hasn't yet been discovered...

[Husker_Du]

it's nature taking its course. the shit coins are getting vetted.

[MPhillips]

2 hours ago, BerniePragle said:

Nobody wants laws until the guy next door starts playing his drums on the porch at 2am.

~Abraham Lincoln

[Wrestleknownothing]

59 minutes ago, Husker_Du said:

yeah, ya know what, i rescind that take lol.

i don't want any regulation.

but one thing that you seem to keep sidestepping in your 'crypto-will-never-work' rhetoric is the FACT that many of these failing projects and exchanges are either based on nothing tangible, corrupt, or both.

there are those that have value and make sense. 

You must be compressing other peoples' statements with mine. I have no such rhetoric.

I have repeatedly stated why crypto can work, and some of the pro-crypto arguments, while in no way endorsing crypto. There is a lot about crypto that I find very interesting, but there is also so much crap. It is a heavy lift to seperate the wheat from the chaffe. But instead of doing the work most people get FOMO fever, which has a bad habit of burning people. 

I have found your take to be reasonable. You essentially say it may not work for everyone, but it works for me.

Then there is the Askren take. He basically espouses the "get long and get loud" philosophy. I view this as a viable, if irresponsible and very cycical, strategy for crypto.

[AnklePicker]

Wait...so has anyone actually cashed in any RAE?  Can you cash it in?  Please help an idiot.  

[Wrestleknownothing]

6 minutes ago, AnklePicker said:

Wait...so has anyone actually cashed in any RAE?  Can you cash it in?  Please help an idiot.  

You can sell it (usually for a stablecoin which you can then convert to dollars).

[BerniePragle]

2 hours ago, AnklePicker said:

Wait...so has anyone actually cashed in any RAE?  Can you cash it in?  Please help an idiot.  

At the end of business today:
1 RAE = 2.71828 Italian Lira or 20 S&H Green Stamps

[1032004]

14 hours ago, Wrestleknownothing said:

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.

I wonder how many creators cash the majority of their RAE out immediately vs “hodl’ing” if (not sure if I used that term correctly)

[GreatWhiteNorth]

14 hours ago, Wrestleknownothing said:

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.

Took some time, but we've gotten to common ground.

Crypto allows Rokfin to skirt taxes, and content creators to take a bit of a gamble.

 

It's hardly an example for someone to display as a testament to crypto legitimacy, but whatever floats their boat.

[Wrestleknownothing]

51 minutes ago, GreatWhiteNorth said:

Took some time, but we've gotten to common ground.

Crypto allows Rokfin to skirt taxes, and content creators to take a bit of a gamble.

 

It's hardly an example for someone to display as a testament to crypto legitimacy, but whatever floats their boat.

Well, now, that depends. Do you still think your Target gift card is currency?

[Le duke]

Legal tax dodging and money laundering.


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