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    Bitcoin mining consumes more electricity than is generated by all the world's solar panels*

    Truly we deserve the impending collapse and return to bartering


    *See p.33 of the modern Book of the Apocalypse (The Uninhabitable Earth by David Wallace-Wells)

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      Originally posted by WOM View Post
      I could have sworn I posted something on here about MoviePass, but damned if I can find it.

      Anyone else enjoying watching it unfold (unspool?) ?

      Put it in the 'did you do a business case for this?' category.

      Here are the broad strokes (I'm going from memory, so figures are rounded):

      So, you buy a MoviePass for $9.95 US a month and you can see one movie a day for free.

      Except MoviePass doesn't have any partners, so they have to buy the actual ticket from the theatre with cash money.

      So how do they make money? Something something something critical mass...economies of scale...popcorn....something.

      The stock has gone from a couple of bucks to five cents. They're losing about $125 million a quarter.

      Now you can only see three movies a month, and only choose from six or so, and only at certain times.

      Imma put a 'hold' rating on this baby.
      You'll be shocked to learn that MoviePass is suspending operations while it - get this - retools its app. See, it's the app that's causing the problems, not the business case. In 2018, they lost $329 million on revenues of $232 million. In financial circles, that's considered 'frowny face'.

      Their holding company (Helios and Matheson) is also under investigation by the NY AG for possible fraud around misleading investors, which...you know...could become a distraction on the road to profitability.

      Bold Prediction: you'll never hear from MoviePass again.

      More here. https://variety.com/2019/digital/new...ze-1203259672/

      Comment


        Craig Wright's trial is not going well for him, surprising nobody.

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          Silly crypto diagram of the day, this time courtesy of, remarkably, the ECB:

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            Wow, that is nasty.

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              ha ha, that diagram has to be a joke, surely? Like those guys who submit spoof maths papers in order to trick dodgy journals into publishing them.

              Comment


                Originally posted by Evariste Euler Gauss View Post
                ha ha, that diagram has to be a joke, surely? Like those guys who submit spoof maths papers in order to trick dodgy journals into publishing them.
                I reviewed one of those for a data mining conference not too long ago. Forgot what the exact title was, but it started with "The essence of mathematics lies in a Painlevé" something something; the pseudo-fundamental mathematics rather stuck out between the support vector machines and neural networks.

                It should have been desk rejected by the program chairs, but the good news for the conference was that all three reviewers gave it a strong reject.

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                  That diagram screams "Conjoined Triangle of Success" at me.

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                    Originally posted by Ginger Yellow View Post
                    Silly crypto diagram of the day, this time courtesy of, remarkably, the ECB:

                    WTAF

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                      It hurts my head.

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                        If Charles Joseph Minard's famous infographic about Napoleon's Russian campaign is one end of the infographic quality spectrum, that cube is the other end.

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                          Originally posted by WOM View Post

                          You'll be shocked to learn that MoviePass is suspending operations while it - get this - retools its app. See, it's the app that's causing the problems, not the business case. In 2018, they lost $329 million on revenues of $232 million. In financial circles, that's considered 'frowny face'.

                          Their holding company (Helios and Matheson) is also under investigation by the NY AG for possible fraud around misleading investors, which...you know...could become a distraction on the road to profitability.

                          Bold Prediction: you'll never hear from MoviePass again.

                          More here. https://variety.com/2019/digital/new...ze-1203259672/
                          And they are officially done. Apparently being a disrupter isn't enough to run as an ongoing concern. Uber investors take note.

                          https://www.theverge.com/2019/9/13/2...s-subscription

                          Comment


                            Kik seems to be taking the whole "pivot to blockchain" thing a little too seriously, by shutting down the app its probably illegal currency would be used in and sacking everyone not committed to its silly crusade against the SEC.

                            Also, this may not be a sensible thing to say when accused of illegally offering securities:
                            We will focus on one thing: converting Kin users into Kin buyers

                            Comment


                              The Beeb has a podcast series going about the OneCoin scam.

                              Comment


                                Block.One settles with the SEC for $24m. Seems pretty small for such a large ICO, but still.

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