Games

While trading in general is zero sum, if you believe the product you're trading has intrinsic value, then no one needs to be holding a bag.

If I sell you a car and you get to use the car, you wouldn't be holding the bag, because you wanted the car. This applies to stocks, and stock derivatives, as well as commodities.

The problem arises when there isn't an intrinsic value (or the intrinsic value is very small), such as with NFTs or many cryptos in general.

There are cryptos that have some intrinsic value like monero, since they have fungibility and a use case, but most do not.

Yup. Smart contracts aren't even contracts, and they certainly aren't smart.

An algorithm is, by its nature, dumb. It does the thing it's programmed to do, without any hesitation. It doesn't stop to consider the situation or ask relevant questions. This is a terrible idea for a system that facilitates trades, because all someone has to do, to use the example you cited, is wash trade a newly minted token back and forth a few times to set a price, and then find a smart contract that's happy to spew out some amount of a token you want, at the price you just set, like a busted slot machine.

This is very well said.

I think what people imagine will happen, if they're thinking about the economic conundrum at all, is something rather like the Warframe economy. Players with real dollars to spare buy platinum (the premium currency), which they then either use to buy things directly from DE, or trade to other players in return for loot those players want to sell. Effectively, players flush with time grind on behalf of players flush with dollars. If there was a way to convert platinum back into dollars, it could be imagined that a player in a country with a weak currency might make a living from selling rare mods and prime parts.

In practice the reason this doesn't work is because DE would lose a huge amount of their income if players could cash out platinum. Any dollars put into the system for the purpose of buying things from other players would then leave the system when those players cash out. So there's no incentive for DE to do this. There's also the problem that you need to make a game that is actually worth putting real dollars into, and these crypto games are universally dogshit (ideal time to plug Jauwn's YouTube channel, his crypto game reviews are hilarious and really highlight what utter trash the entire field is). So no one has any incentive to buy the tokens that the play-to-earn players are trying to sell. That's a big part of why the price always instantly crashes.

The only way to make cashing out work is to have players directly sell their tokens to other players, instead of the money coming out of the developer, but that means now the players are competing with the developer on price. Whatever price the dev sells the token for becomes the ceiling. And if course, every token sold by a player basically steals income from the developer. If the dev instead gives the token out for playing the game, then there's no mechanism at all for the dev to make any money from the token, other than issuing large amounts to themselves and ultimately crashing the price by cashing out. None of these options work, and the model these games actually go with basically guarantees rug pulls as the only actual way for the developers to make any money.

You clicked the tree somewhere and it would tell you either to try again, or you would win something. I think most people who won got $5 and a monkey plush toy. I'm not sure anyone ever won the jackpot. You could just click over and over again trying to remember where you had previously clicked, like a treasure hunt. Meanwhile they're showing banner ads on the page.

It worked using the ismap attribute on the image which tells the browser to add the x,y coordinates of the user's click to the link when fetching the result.

Which is a shame but not that surprising

My boss and I made a really fun fucked up story and it passed the time well

somehow