Presented without comment
https://twitter.com/cameron/status/1538205427070017536?s=21&t=0-9oKJTO4kscgnnFMHW5RA
Well before I try to do that, why would Ticketmaster want to make âTicketCoinâ? They maintain a centralized ticketing database that they make a lot of money with and meets the needs of the marketplace.
Iâm not sure how it would pencil out, but I think the best use cases would be to leverage the parts of its business that go beyond just tickets.
Ex 1: They own quite a few venues, so maybe you could give holders of the coins some sort of special treatment at the venues (sections/discounts/dedicated bars or merch tables?)
Ex 2: They have 360° management contracts with some artists, so maybe they use their âcoinâ to run an artist fan club. So maybe you get presales, exclusive merch, meet and greets, songs that are only released as NFTs, etc. I imagine theyâd want to start with the artists they have under contracts, but, if the concept worked for those artists, TM could possibly spin off a business helping other artists do it as well.
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Yeah the spirit of the cult still seems far from broken to me, but you would think there have to be other shoes to drop still in terms of firms going bankrupt and resulting contagion.
found this interesting
Solid advice over there might have to check it out.
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I wouldnât hold my breath on any of this happening based on what Iâve seen so far. TM/LN have already launched NFTs and were buying blockchain technologies at least as far back as 2018. To say that their arrival on this scene has been underwhelming would be quite an understatement.
Yeah, TM doing something poorly or making promises it doesnât deliver would not surprise me at all.
Lots of good stuff in here but they made $150 million in one quarter on dogecoin trading commissions lololol come on
Robinhood is literally sending me emails offering deposit bonuses right now
Iâm sure they called out the irrational top when it was at 65k.
Is it a sign when the lawsuits start rolling?
Iâve been considering filing a class action lawsuit against Josh for starting the discord server.
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Itâs a good question, and no I donât think your explanation is right. Anymore than it would be right to say that the wealth generated by the advent of computing was due to âmore and more fiat being exchangedâ for ownership in technology companies.
I think a decent analogy to what the wealth created by crypto represents would be to imagine the discovery of some large reserve of âUnobtaniumâ - some as of yet unknown resource that would make it easier for us to build some things more cheaply, durably, etc. So now that reserve of Unobtanium has an owner and it has an estimated market value. Was wealth created?
I would agree with an efficient market and classical economic analysis that would say yes because âthe wealth that was created represents the overall enhanced productivity that the Unobtanium will help to unlock that will ultimately raise the mean quality of lifeâ. If it is later discovered that Unobtanium was overhyped and its utility is actually minimal, the value of the reserve will plummet. Was wealth destroyed? I would again say yes.
I donât think itâs a perfect analogy but closer to getting at what is going on than your model.
If the value of TSLA spiked to some crazy level based on some legitimate fundamental reason which later turned out to be wrong, then yes I would argue that the wealth was created and then destroyed. But it sounds like you are referring to some kind of glitch or flash crash scenario, in which case Iâd agree, but I donât find that at all insightful.
But none of this canât be accomplished without a decentralized ledger. The goal of using a blockchain is either to make it cheaper because you donât have to rely on a centralized authority or to create sudo anonymity since most of these blockchains are still traceable.
all crypto needs is more long weekends
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That may be the goal(s) for some people, but there are a lot of others for whom issuing something âon the blockchainâ just seemed cool and like they could make more money by riding the crypto wave. I mean, if you can tell me any legitimate reason why Snoop Dogg basically pulled all of Death Rowâs back catalog off of streaming services and issued the Mt. Westmore album as an NFT that donât just boil down to âI think people are willing to pay $3k for music theyâve never heard before just because I can put a crypto gloss on itâ Iâm willing to hear the case. But, to me, it doesnât seem like the blockchain was really solving much of a technical challenge that distributing via Spotify, Apple, or even a non blockchain platform that you designed just to host Death Row content couldnât also solve.
I agree that TM wouldnât need to use the blockchain, but I think that is true for a lot of stuff that is currently on the blockchain. So even agreeing that the blockchain isnât necessary, that doesnât mean they wouldnât try. In fact, Iâd argue that trying to ride the wave of blockchain hype has actually led a lot of folks to waste time and resources reinventing the wheel when centralized systems might have provided equal if not better solutions.
looks like some old people buying crypto today, litecoin is up the most, that shouldâve been predictable but I didnât think of it.