Thursday, August 29

Geek

Daily News Stuff 29 August 2024

Well I'll Be Edition

Top Story

  • OpenSea has been issued a Wells notice by the SEC.  (MSN)

    To unpack:

    OpenSea is a leading marketplace for NFTs.

    NFTs are in effect digital baseball cards.  They have no intrinsic value, but people put value on them largely based on their rarity.

    A Wells notice is issued by the SEC when they plan to sue a company for violating securities laws.

    So what the SEC is alleging here is that any collectible item without intrinsic value - baseball cards, Pokemon cards, MTG cards, US senators - is a security subject to the commission's regulations.

    Is there any law stating this?  No.

    Didn't overturning Chevron clamp the wheels of federal agencies trying to issue this sort of sweeping ruling on their own authority?  Yes.

    Aren't NFTs a scam anyway?  Only mostly.


Tech News



Disclaimer: I'll trade you a mint 1962 Ted Kennedy for a Bob Menendez and a shiny Pikachu.

Posted by: Pixy Misa at 06:39 PM | Comments (2) | Add Comment | Trackbacks (Suck)
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1 Re SEC: How much of this is the feds becoming a bit insecure about the relative reality of the dollar? I think at one point during the great depression, people in New York were transacting in stamps instead of dollars, because the bankers vanished with their dollars.

Posted by: madrocketsci at Thursday, August 29 2024 11:15 PM (hRoyQ)

2 Great Depression/Weimar 2.0: Pokemon card edition. It could be worse. Pictures of cute imaginary animals, and random teenage collectors who had nothing to do with causing the disaster have a head start on the "money supply". :-P

Posted by: madrocketsci at Thursday, August 29 2024 11:26 PM (hRoyQ)

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Apple pies are delicious. But never mind apple pies. What colour is a green orange?




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