crypto-jim
16.7K posts

crypto-jim
@jim100s
crypto nfts ENS no financial advice ever
somewhere Katılım Haziran 2021
5.4K Takip Edilen1.5K Takipçiler
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@blockiosaurus @redacted_noah @BTCfomoSyndrome @Ledger @solanamobile @toly (also, I would not use a Solana mobile for signing just to be clear but..)
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@blockiosaurus @redacted_noah @BTCfomoSyndrome @Ledger @solanamobile @toly Not saying it's great, but most devices can be compromised if you have physical access imo. Without context, this sounds worse than it is.
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This is getting ridiculous. @Ledger fix the blind signing already.
Genuinely, I think it's safer to use a fresh @solanamobile Seeker than Ledger for your multisigs. It has a web browser, hardware wallet, and if you never use it for anything else it is unlikely to be compromised. And you can actually SEE what you're signing.
cindy@cindyleowtt
@redacted_noah @SlodyMachete @DriftProtocol These were NOT hot wallets. Signing was all cold wallets.
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@redacted_noah @BTCfomoSyndrome @Ledger @solanamobile @toly You would have to have hands-on on the device for that to matter, is my understanding.
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alright, let's address a few items that keep popping up on the timeline.
every single dollar that opensea received in platform fees over the last 5 months was used for one of two purposes:
1. to purchase prizes which were distributed via treasure chests
2. to offer optional refunds via our claim site
imagine all of the platform fees in a single account. we spent some of the funds on prizes. and then had to figure out the right way to distribute what was remaining across hundreds of thousands of wallets.
on the refund page we shared a ledger of:
1. how much each user spent on platform fees (i.e. how much they contributed to the "account" above)
2. what we paid for each prize they'd already received in their treasure chests
if there was a gap, that became the optional refund amount. which we determined was the fairest way to redistribute 100% of the remaining funds.
let's talk for a second about those two numbers above.
when calculating how much each user spent on fees, we did it based on the USD value of those fees at the time of transaction. so for example, if you paid 0.01 ETH of platform fees on Nov 1st, we took the USD value of ETH that day, which was $3,800, and attributed $38 vs. the value of that same ETH today at $21. this was opensea essentially going back in time and irrefutably doing right by users.
when showing the ledger of prizes, many are incorrectly viewing this as "what they're worth" compared to how much opensea "paid" out of our fees account for those prizes. i get it guys, not every NFT is worth today what it was when you received it. and i know sometimes you had to pay royalties to sell them. but the reason we shared this information was to help you understand how we calculated the refund amounts and redistributed the remaining fees from the account. this was very simply, transparency.
to those who didn't have a refund to claim, it meant that you were one of the lucky ones. the amount opensea paid for the prizes you received was more than you had actually spent in platform fees. so you got to essentially trade for free for 5 months and still keep the Treasures you earned. the fact i see people complaining about this particular outcome is puzzling to say the least.
on the point of not providing more details on TGE - that's essentially why the refunds are being offered. the Foundation will share more when they're ready. but you should not expect more information in the immediate term.
opensea was not required to provide these refunds. we did so because we thought it was the right thing to do. if you're truly upset about the way they were calculated, or frustrated that more information on TGE isn't being offered right now, in my opinion, you should personally consider taking the refund.
i for one am extremely excited about what we're creating and our future. opensea is building incredible things that will change the way the world interacts onchain. and we're not going anywhere.
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crypto-jim retweetledi


Just wrapped up my @opensea Wave Farming journey
- Spent: $10,000+
- Wave Rewards back: $4,000
- NFT wins: 0 😅
Now I’m Waiting for $SEA to cover that $6K gap 🙏
A strong launch in a bull market is the only move that makes sense for the OS team.
Hoping $SEA is the banger that makes it all worth it

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crypto-jim retweetledi

I’m starting a petition to shutdown @pumpfun for good because it’s killed crypto and memecoins due to the rampant farming and scams that occur daily, every coin is a farm and the platform is cancer to crypto period!
It’s one big giant liquidity extraction criminal enterprise at this point
c.org/mx8kJ6HRvP
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crypto-jim retweetledi
crypto-jim retweetledi
crypto-jim retweetledi

@dfinzer @openseafdn refunding all waves while letting people keep their treasures would be the big W.
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an update on $SEA.
the team has been building at full speed, and the foundation had planned to kick off the first steps as part of our march 30th event. but @openseafdn is pushing back the timeline.
a delay is a delay. i’m not going to dress it up, and i know how it lands.
the reality is that market conditions are challenging across crypto right now, and $SEA only launches once. @openseafdn could force the original date, or we could ensure every piece is in place and make this moment what this community deserves.
we gave a tremendous amount of thought to how to do right here. I’m thankful to @HollanderAdam for bringing the community’s voice into every conversation. we’ll be doing the following:
no more waves: the current rewards wave will be our last.
optional fee refund: recognizing that we originally committed to a Q1 date, we’re offering refunds of the platform fees we retained while participating in the rewards waves (3 - 6) that followed our timing announcement. if you like, you can receive a refund of those fees, which when combined with treasure chest prizes, essentially means all of your trading during that period was on us. if you opt for a refund, the Treasures you were awarded during these waves will be removed from your account. details on this process will follow.
honoring existing Treasures: for Treasures you continue to hold, our prior commitment stands: they will be meaningfully considered by the Foundation at TGE. this is independent from allocations for historical activity.
0% fees for 60 days: starting on march 31st, opensea will reduce our own token trading fees to 0%. we want to make it a no-brainer for everyone to experience our new platform: cross-chain token trading, mobile app, perps and more. after this 60 day period, we will put a new system in place that makes fees significantly more competitive for anyone trading consistently on opensea.
product updates: while we’re postponing our march 30th event, we’ll host a separate one in the coming months focused on product updates. it’s been incredible to see the early responses to our mobile app, and we can’t wait to get it into more people’s hands.
so if not now, wen?
when we announced last year, it was too early. that created unnecessary uncertainty and reactivity. so when the Foundation sets a new timeline, it will be deliberate and specific.
here’s why i’m confident that’s the right move:
i’ve been building opensea for almost a decade. when this started, we were two people and the only thing you could trade on OS was cryptokitties. i’ve watched this space go from a niche curiosity to billions in volume to where we are today.
the thing that’s carried us through every cycle was a willingness to make hard calls when it mattered. when our market crashed, we rebuilt from zero: an entirely new stack, a new product, and a new team culture. that hurt in the short term. but today OS2 is undeniably the strongest marketplace offering, and it’s the foundation everything sits on.
we have huge ambitions as a company, and we’re here for the long game. making all of non-custodial crypto delightful on mobile is just the beginning. that means we have to set a very high bar for everything we do, and it’s why i’m so protective of delivering a launch that’s worthy of this community and everything we’re putting into this.
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