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Comment Re: It happened with Wikipedia 20 years ago (Score 3, Informative) 98

"Wikipedia should not be cited as a source because it's "The Encyclopedia Anyone Can Edit" and therefore there is no guarantee that the articles will be factually accurate or even exist should someone decide to edit or delete it." My chemistry professor in university would instruct his students not to cite Wikipedia for their reports. He would then sabotage the Wikipedia articles in subtle ways to catch students using Wikipedia. Anyone caught was given an automatic fail for the class.

Comment Re: Good, I hope they all implode (Score 1) 147

"How are they predatory? Users know exactly what they are doing? Can we stop pretending that nobody has agency and is in control of their own actions?" . I agree in that users SHOULD know what they're getting into, but financial literacy is not as wide spread as we'd like. There are a lot of idiots out there which these companies know will be their primary customer base, which is what gets them labeled as predatory. Personally, I have no sympathy for either side because the layman who falls in that trap always has the freedom to default on their agreement if they also accept the consequences (eg lower credit rating). The interest calculated by the lender factors in the rate of defaults, so you know they're raking it in until enough customers collectively refuse to pay.

Comment Re: NFTs don't mean anything regarding copyright (Score 1) 143

"That "someone else" has not legally bought the rights to anything, and will certainly not even attempt to go to court regarding this." I agree. IANAL and I didn't read past the the commercial license, but can someone sue, with a reasonable expectation to win, over an IP that was owned during production? Imagine the unlikely scenario where Disney sells the ownership of Mickey Mouse. Unless there's a clause stating that the purchase also includes owning rights to everything ever produced with the Mouse in it, I don't think the new owners should be able to claim ownership over previously made ip; they should only have the license for future productions.

Comment Re: Jacked up rent (Score 2) 272

"Only about half of those landlords report net income... as in, only half even make money on their rentals" One major factor that probably isn't being considered is that the net income is year to year, not including what they can sell the asset for down the road. Eg the tenants pay the mortgage so the landlord can massively profit after a few years.

Comment Re: A better and succinct description (Score 1) 43

Whatever apr they promise, be it 10,000% or 20%, the token still has the same market cap unless new money comes in or current money goes out. Thus, every percent they award to holders comes at the cost of everyone else's value of the token. This is demonstrated in every yield farm I've seen where, outside of the initial interest (ie loads of new money coming in), the value of the yield token quickly plunges until the token developers readjust the apr to something less ludicrous.

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