The Exiled WallStreetBets Mods Want to Make a Blockchain

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The Exiled WallStreetBets Mods Want to Make a Blockchain

As celebrity investors and film deals are praised for their exposure to subredit / memorial trading floor wallcities, two moderators of its moderators went to war, each accused of influencing the Nawabi fame of the other community. Now, the squad pitchers intend to start a competitive community that will operate like a "decentralized hedge fund".

He said that the bitter talk began last month when a group of mainly new moderators (the most visible of them, zzz, who joined last year) experienced moderates (including only around 2014 as moderators Were) accused of coming on. Back to "Cash in" WallStreetBets' sudden newsworthiness from Dormancy. Zzz wrote on 5 February that wsb was taken over by "old mortgages", who refer to themselves as "boards of directors":

We have been taken hostage by Top Mod. They went away for years and came back when they smelled of money. All of them have been busy creating private email addresses to siphon off press correspondence for their own benefit, all talking about active means, and some scrambling to pay off a movie deal.

Zjz and partner were separated from the moderator's position (the reasons themselves being a source of controversy). The ouster was soon overturned by Reddit entrants, who restored the new mod, including zzz, and shipped the old guard packing.

"We didn't leave the group at all," Poznarbon, a former Walturbits moderator, told Gizmodo via Reddit Chat. Positoresurban said that while the now-deposed group "let the zzz and its bots stay more and more restrained day-to-day," they still "discussed daily wsb-related issues," posted, and honored by nature. Some said, "Things behind the scenes organize people like the AMA, along with Benn Eiffert and Mark Cuban."

On one hand Modvores' project, "Volcribbits 2.0", is being naturally pitched as a blockchain-based DAO (decentralized autonomous organization) with Make, allowing WSB 2.0 users to pool pool tokens and split collective betting profits It is allowed to do. they write:

Time to create a new version of WSB A decentralized version powered by Smart Contracts, where no one - no mod, not reddit - owns the platform. A place where you are financially encouraged to share your thoughts and your memoirs. The place where you don't need to trust anyone because you can see public, audited and immutable code. A place where millions of individuals can deposit their funds together to have more power and influence than the largest hedge funds in the market [...] is the time to stop betting against the house and build a new home.

"Smart contracts" refers to self-executed contracts that are permanently traceable, with words written in code and distributed across a blockchain network. They do not say what the specifics of this contract could be, but we will vote on the stock with imaging users tokens issued by DAO and decide that instead of exiting their positions, for example, rocket ship emoji Investor persistence to maintain. Only1parkjisung told Gizmodo that they are still working on details such as potential fundraising, but says there are at least half a dozen people, most of whom include "og mods".

This idea is not new; In 2016, the original DAO raised more than $ 160 million, but just a few days later, a hacker stole $ 50 million of DAO tokens (Ether). As the staple tulle, Skolit's COO told DAO at the time, which is virtually impossible to sell pure DAO tokens on the cryptocurrency market, as all contracts are permanent. But cryptocurrency exchanges nevertheless removed the DAO token. To date there are only a few companies in the space, and it is clear that more than a few kins of iron have to be taken out.

The WSB 2.0 site refers to a tweet by former Coinbase CTO Balaji Srinivasan, explaining how the concept will protect people from "bag holding" and point to Mark Cuban's fiery points, embedded in a YouTube video :

Just imagine if Wall Street Bates ... was a blockchain-based platform instead of just being a platform where everyone puts an Ethereum, and everyone ... half of it, you took hyper-collateral, and everyone else Contributed to, and to see how many participants you saw on the WalcatBats blockchain. And then everyone voted on which shares to invest in. Everyone gets a token to choose which one they invest in. Is it from the minute? Is it by the hour? By day? And then you can have a council where people can do their voting work because some people don't want to deal with every minute of every day. Now all of a sudden, that the Wallcatbits forum is organized with blockchain-based governance, decentralized governance where users get to vote.

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