Category: money

In response, the Fractal team issued a statement acknowledging the breach, along with a promise they are “going to make this right.” […] ractal say they are “planning to fully compensate these 373 victims,” before adding the extraordinary warning, “We must use our best judgement as there’s no ‘undo button’ in crypto,” making the entire post read like a textbook example of showcasing why this is such a shitty space. Meanwhile, Kan issued a short video statement of his own, alongside warnings that this Discord scam had been perpetrated on other NFT communities as well.

With a 100-year-old brand, “we are going to lead the way for blockchain tech to reach mainstream adoption by other large brands.”

The RadioShack home page says they’ll start with a “symbiosis” with Atlas USV, a community-driven project to build a universal, decentralized/widely accessible DeFi base layer. Atlas USV’s “Barter” mechanism lets users purchase third-party tokens and transfer them to Atlas USV’s treasury in return for discounted USV tokens. “The Atlas USV treasury can accumulate any crypto asset of its choice with this dynamic…
“Once the liquidity pool surpasses other exchanges’ liquidity level in any token pair, our swap efficiency will be unbeatable for that pair…

“Other decentralized exchanges margins on swap fees are our opportunity…. ”

Or, as they explain on a more detailed web page, “We intend RadioShack to be the first protocol to pass over into mainstream usage in the history of DeFI,” promising that RadioShack DeFi “will become the first to market with a 100 year old brand name that’s recognized in virtually all 190+ countries in the world…”

“RadioShack has one objective: Distribution and usage by millions of individuals but possibly more important, by hundreds of blue-chip, large corporations as their gateway into becoming blockchain companies.”

Currently there’s a sign-up form for a notification when “RADIO token” launches (as well as links to their channels on Discord and Telegram).

Their “Fundamentals” page explains that “It is our hypothesis that the best way for crypto to be more mainstream is for an established brand name in the tech space to lead the way.”

The RadioShack brand was purchased In November of 2020 by e-commerce rehabilitator REV, now listed as a collaborator on RadioShack’s home page. (Ironically, the “Fundamentals” page also includes RadioShack’s Super Bowl ad where there store is taken back by the 1980s.)

The official Twitter feed of Radio Shack now also has the same new tagline: “Bringing Cryptocurrency To The Mainstream.”

Recently, Slashdot posted a story about a group trying to purchase one of the few copies of the U.S. Constitution in the public domain. The idea was to use pool donations by people via Ethereum to get the winning bid. Alas, Citadel CEO Ken Griffin outbid the group and took possession of the copy.

Now the group, ConsitutionDAO, is in the process of refunding the donations, the BBC reports, and the people getting their money back are finding it can be quite expensive…

The BBC writes:
That is because the Ethereum network records its transactions on the blockchain, the same basic technology idea that powers other cryptocurrencies such as Bitcoin. And like Bitcoin mining, it requires computational power to run.
“Gas” is the fee paid to those who run the computer systems to facilitate transactions. And it changes price based on supply and demand. That means that at times, it can be much more expensive to make any kind of transaction, depending on how busy the Ethereum network is. And the network has recently seen high usage — and high gas prices.

On its official Discord — the chat app which allows anyone to create rooms and discussion channels for enthusiasts on almost any topic — the group said it had 17,437 donors with a median donation of $206.26. High gas fees mean that “small” donations could be severely hit by the transaction charge.

One user on the Discord said that in order to get $400 refunded, they would have to pay $168 in gas. Others complained of the fees being higher than the relatively small amount of their refund.

The 54-page document was handwritten in 1913 and 1914 in Zurich, Switzerland, by Einstein and his colleague and confidant, Swiss engineer Michele Besso. Christie’s said it was thanks to Besso that the manuscript was preserved for posterity. This was “almost like a miracle” since the German-born genius himself would have been unlikely to hold on to what he considered to be a simple working document, Christie’s said. Today, the paper offers “a fascinating plunge into the the mind of the 20th century’s greatest scientist,” it said.