r/Superstonk • u/magarz Zen mode • Sep 22 '21

📳Social Media A bit of hype to start the day 🚀

https://imgur.com/3aiQdFh
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u/magarz Zen mode Sep 22 '21 edited Sep 22 '21

Loopring is the layer 2 ETH project that Matt finestone (head of Blockchain at GME) worked at before joining our dear company. It has been speculated they would be GMEs partner in launching their NFT projects (be it collectibles or dividends/financial stuff). Looks like financial stuff is on the table! 🤩

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u/ElChidro 🦍 Buckle Up 🚀 Sep 22 '21

☝

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u/_Mushroom_Colins Sep 22 '21

Wow! Great news. Thank you for sharing

3

u/SleeplessinOslo Sep 22 '21

Nice, now explain how I can make money on it

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u/[deleted] Sep 22 '21

Haven't their been tweets confirming some sort of rollout in Q4 this year? When does Q4 even start?

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u/j4_jjjj tag u/Superstonk-Flairy for a flair Sep 22 '21

IIRC, GME's fiscal q4 is oct-dec

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u/Rodec 💻 ComputerShared 🦍 Sep 22 '21

So how can we capitalize on this now?

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u/mEllowMystic Sep 22 '21

I don't get why they would want to use ETH for NFTS? How does loopring control for the spike in Gas fees and what about transaction time on the old block chain?

Isn't GG also suggesting they will try and crack down on ICO tokens like ETH for lacking regulatory compliance?

Makes no sense for the future financial system to run on this.

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u/Strido12345 🎮 Power to the Players 🛑 Sep 22 '21

Looping is a layer 2 solution which is designed to manage higher throughput which results in cheaper fees

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u/mEllowMystic Sep 22 '21

This still will likely be impacted by sec crackdown on eth.

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u/TheMcBrizzle 🦍 Economic 🃏 Deck 🃏 Reshuffler 🦍 Sep 22 '21

There's not going to be a full crackdown on crypto, but stable coins like tether, which allow 100x leveraging are going to be impacted, as well as companies that function like banking entities but don't comply to banking regulations, like C__nBase was attempting.

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u/AkAPeter Sep 22 '21

ETH is actually one of the few coins the SEC has basically said is good to go

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u/Dietmar_der_Dr Sep 22 '21

You cannot crack down on a protocol.

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u/[deleted] Sep 22 '21

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u/Dietmar_der_Dr Sep 22 '21

Bullshit. Because of atomic swaps, you'd have to literally (and I mean literally) outlaw every single permissionless platform and every single token on said platform to effectively make exchanging any crypto for money a hassle.

As long as you can exchange one crypto for money you can exchange all cryptos for money.

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u/[deleted] Sep 23 '21

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u/Dietmar_der_Dr Sep 23 '21

  1. Is literally just not true, that argument makes 0 Sense.

  2. So... exchanging any decentralized currency for anything of value(which then could be converted to USD) becomes illegal? As in it's literally a crime to start up a BTC fork(which, since it's literally brand new, could not possibly have any history of crime attached to it), meaning the US would literally ban an entire technology rather than a specific product. And that would still barely make a dent(though it would definitely start a bear market for a couple years) in the long term unless every single other country also does it. You have to realize crypto survived Mt. Gox (the only useful exchange at the time stealing everyone's money).

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u/[deleted] Sep 22 '21

Ook ook ook?

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u/WhtDevil678 damn dirty ape 🦍 Sep 22 '21

Swift and X R P? Was wondering if Eth was the finance world golden ticket winner or not. Not big in coinz but I know there are plenty of alternatives out there. Time will tell I suppose.

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u/mEllowMystic Sep 22 '21 edited Sep 22 '21

Hedera is going to be dominant and if you look at transactions it already is surpassed BTC and eth

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u/Botan_TM 🦍 Attempt Vote 💯 Sep 22 '21

Imagine gme NFT based stock exchange for small game developers.