Something I never got to share: the 2nd GME token that was minted and burned
By - TheLaurenMcKenzie
Anyone else do a deep dive into learning about how all this works after the NFT announcement? Hot tip: create an account on etherscan to be able to save nicknames and details about the contracts/addresses. Way easier to keep up :)
Im not smart enough for that, but i support the idea.
Your support means more to me than being far too interested in deciphering ether transactions :)
Thanks Lauren 👍😉🍌
Happy cake day too! I’m about to hit my first one :)
Well in that case, I appreciate your effort too!! Take my award and please stay curious and willing to share what you find!
Aw too kind! Thank you, kind ape
I write my name in my own underwear and apes be thinking I can navigate e t h e r e u m blockchain 😅
Wait...either we have the same name or you're wearing my jocks🥴
Ya no it must be yours. These frank and beans ^*hang* ^^*free*
Your underwear is now a NFT.
Non Fungible When Wet
A P E
I'm your father. I'm still out getting cigarettes.
Fine, APE. I'm not your father! I'm your lost uncle, here's some candy, now get in the van!
wish i could understand words, but then again.. im drunk as fk right now
How bad is the learning curve for tracking contracts and addresses? I'm interested in keeping an eye on it, but all I've learned about crypto is just from various DD's and speculation since the GS NFT first got found lol
I went from zero knowledge to here within a few weeks. First trick is setting up an email alert on the addresses to let you know when a new transaction happens. Any going TO the address are usually worthless. It’s the ones being transferred between addresses we know are related that is the trick.
Also create an etherscan account so you can save a personal nickname versus a long ass string of numbers. You got this!
Oh sweet, thanks for the info!
I don’t know what this means, but here, take my admiration you have earned it
I check all the addresses associated with 0x4200 and the Ox1B address multiple times a day. Lol.
Set up an email notification!! Saved my life lol. An email notification for whenever there’s a new transaction is the tits
Did you happen to notice another new ENS added to the 0x1b gnosis safe 2 days ago? It was titled GME.eth. it was sent from an address that has other ens's in it, some of which are associated with some of the names of the nfteam. Didn't get to look at them to see how long they've existed though. Could be just another scam ¯\\_(ツ)_/¯
YES I did! I noticed it on opensea I think. I saw the two previous .eth owned by the one who owns the GME token but this was different. So fun trying to figure it out though!
I know it's like a scavenger hunt lol
I need to learn more
I made this post to try and help yall out:
I will be reading that after some work tonight thanks fam
It's actually a video. If you want something to read there's a post made by someone else in this thread. Here's the link to that:
That’s waaaay above my pay grade but dude, awesome work! Let’s find out what this is. If you can give pointers I’ll dig, but I’m too dumb to understand much of this
Can you make a step-by-step guide for us smooth brains please?
im too dumb and tired to learn anything new right now
I appreciate you too!
good catch on this one, I don't know much about how nfts are made, only how they work to some degree.
This is where I started out except with basically no knowledge of NFTs outside of “rich people dumb money” and a handful of dogecoin. Look at us now :)
Any tips on starting points on where to learn more?
When you say burned, what does that mean? I didn't want to make assumptions.
removed from circulation by sending it an inaccessible/nonexistent wallet address
What’s the reason behind that in the crypto space?
I'm talking out of my ass but it's probably just testing the contract is working correctly.
Awesome, good to see that progress is being made
You’re probably right in that burning is good for testing and validation, but it’s also often used to add a deflationary aspect to the tokenomics of the coin/token ◡̈
Sometimes used to trim supply
As far as I know, that first one was seemingly for testing or placeholder purposes to begin with so making it disappear is to be expected. Like a rough sketch getting painted over.
Burning is done by a lot of tokens to act as a deflationary measure.
With some tokens whenever you sell any a portion of that sale is burned and for some a portion is also redistributed to all the other token holder.
Lower supply, increase price.
Imagine burning a dollar bill
How far along into this operation do you believe GameStop is? From what we’ve seen so far, would it be realistic to see access in time for Moonjam?
Given the timing of moonjam (and the fact that it’s called that after their epic deleted moon tweet) leads me to believe (along with the fail fast mentality so many live by) that something will be ready. But the bigger environment they’re building means so much more and why I’ll never sell - the Metaverse. Being the first in the Metaverse will be so big there really is no floor
Thanks for sharing Lauren, very interesting
Thanks for the hype :) I haven't begun tracking all this stuff yet as I'm waiting for official words, but happy to read and upvote anything you may find!
So true, the metaverse is the absolute future
Uhhh wtf is the metaverse
Watch Ready Player One. That's the Metaverse.
Oh ok. Thought I was totally out of the loop. Is it a decent movie?
Way more than decent imo
Cool I'll check it out
The book is better. Watch the movie first, then you won’t be disappointed by either. Just treat them as two different things.
Cool I'll finally watch it. Recently saw Valerian and the city of a thousand planets and was massively disappointed, as a huge fan of the fifth element. High hopes for the new Dune movie
Yeah I think it's a great movie. It's Spielberg so can't be too shabby..
I'm so excited to see what comes of the metaverse.
>leads me to believe (along with the fail fast mentality so many live by) that something will be ready.
The fact that they only added a multi-sig contract about 8 days ago may suggest things are still early days - but talented devs can achieve a lot with enough coffee. Not something that should be rushed to pander to ape hype though.
Speaking of agility, I think they started with a reasonable MVP but no one imagined the scope of this thing. After clearing the debt and raising billion in pure capital things may have grown in scale. They may even be considering some kind of SaaS/PaaS solution to replace DTCC or any other crazy advancement that crypto could offer.
Honestly the MVP is going to be such a moving target when building towards a huge footprint in the Metaverse where the economy will be ours to determine
I just got caught up on the metaverse thing, that's insane. I don't know if current blockchain can handle that, but it will definitely push innovation no matter what.
Which one's the deleted moon tweet?
If you Google or DuckDuckGo deleted GameStop moon tweet it’ll show up. Also bonus : they’re deleted MOASS comment
Thanks. Thought it was a newer one or something. Didn't know they were both deleted.
Look, I don't want to shit on everyone's dreams but GameStop is probably pretty far from any crypto releases. When it comes to releasing code on the Blockchain, it has to be foolproof. Code can't be (easily) updated after release so it takes lots and lots of testing to make sure everything works before real money can start to be thrown into it. RC is still new to GameStop, and so is the money they just raised. Before this GameStop couldn't have afforded the developers.
I have been following crypto projects for a while now and usually it's over 2 years of development before the projects are usable. It might be faster since GameStop is a company with actual management, but I wouldn't expect anything before Q2 2022. We might see something on the testnet before then, but GameStop might also want to keep the development hidden to prevent competition
Thanks for the feedback, I would imagine it’s the same case for NFT development? If not longer?
To ask a counter question, how much simpler is it JUST releasing a dividend coin/NFT to identify the fraud committed?
Honestly I don't know how much work an NFT dividend would be. I personally don't think that is going to happen. A crypto dividend doesn't help gamestop as a company, it would only benefit the shareholders. RC doesn't seem like the type of person to waste development time and money like that and I don't think RC even cares about the shorts. GME isn't going bankrupt anytime soon so the short interest doesn't matter. We all know the shorts need to cover eventually why force them to do it early when RC can instead make gamestop a better company.
Overstock didn't have the backing the GME does. Without their dividend they still stood a very real chance of bankruptcy so the dividend was their last ditch effort to save the company (and it worked). GME is safe with or without a dividend, and a crypto dividend doesn't "change the world" like RC has planned with GameStop
> " it would only benefit the shareholders"
>He does own 9 million shares. If someone was making every effort to turn 1.5 billion of your cash into nothing, it would be pretty difficult to not care at least a little bit.
RC seems too confident to care about the short sellers anymore. They had their chance to bankrupt GME and lost it. Now they don't have the ability to. They have to cover eventually. It doesn't matter to RC if its's next month or next decade. He's in GME for the long term
Hoping this sub doesn't quash crypto discussion. With GameStop fully venturing into NFT/crypto we need crypto wrinkled brains to dissect, discuss and explain the mechanics behind all of this.
YES THIS^^ I had no voice on the previous sub and none of my twitter moots got into this, but why on EARTH would you want us to all stop talking about crypto after one of the only “announcements” from GameStop to be confirmed was them literally announcing an NFTeam and a GME token while associating with .eth (they go hand in hand, but how many apes know that?)
I feel some weird tingling, nft, crypto, coin, eth. Holy shit we can talk about everything once again. Praise you Lauren what a weekend.
Bc the mods are bought out. Its clear now
For real. It was so hard to make a decent post about it there. It was so stupid that so many people asked to talk about Ethereum only if it pertained to discussing the GameStop nft and they just said "lol no"
Thanks for the post. I can feel the NFT token/coin coming in the air. Once the London Hard Fork proves successful, it’s just a matter of time before GME announces the dividend.
I really landed on the best way of doing this possibly being not a crypto dividend (though them introducing the first stable coin for the Metaverse should still be a priority) but an individual NFT of a GME share to every single share holder. Imagine how priceless those become once they trigger the MOASS
I can’t imagine the value of a NFT that will be associated with a share; indeed priceless. I concur, that this will trigger the MOASS. I sold my ETHs so I can buy more GME stonks. I may have to sell my ADAs and XRPs :)
This is absolutely not financial advice (in perpetuity for everything I say ever) but I have $ in Eth when I refuse to spend money on anything non GME. There’s no way it doesn’t become more valuable than other crypto given its essential partnership with NFTs
I don’t know if ETH will ever replace BTC as the # 1 coin, but what I will do after the MOASS is buy as much ETH and other alt coins that I think will be future stable coins. ETH 2.0 is supposed to be complete by 2022/2023 so we will have time to buy. I do believe that crypto winter is coming and maybe already upon us.
I think cryptos are going to dip much lower once the MOASS begins. If the SHFs own enough to influence the prices to the degree we have already seen, then once they are liquidated, we could see fire sale prices once the rocket gets off the launch pad
This is the way. I’m going to be sure to load up on my fav cryptos.
Yeah, after this I plan to diversify into crypto, land, and beanie babies
Throw some silver in and it’s rounded out haha
And don't forget gourds!
Sorry, can you explain "Metaverse" in all this context?
Watch Ready Player One
How cool would that be!? MOASS aside, the Metaverse is something I wouldn't hesitate to invest in. 🚀🚀
It’d be awesome to have more posts and discussions with people who actually know how this works so we can all be prepared for when GameStop does announce whatever is next. We need to be the informed subject matter experts 🚀
Yeah that could be really awesome.
I think that I am going to spend some time and read about NFT’s.
So far https://ethereum.org/en/nft/ is a okay source.
Thanks for sharing. Would love to learn more about this NFTs thing.
Yah this stuff is too deep for me, this the level between smart and autist! I’m jealous of your brain though!
I slick wish there was a sub solely for discussing the gamestop nft and had stickied posts debunking some of the theories.
I could try and incorporate more of that into my r/FOMOASS I created out of desperation due to low karma and no one to talk to about it all. Or r/theVerseisMeta which I created when I had no one to conceptualize the Metaverse with lol
Maybe I will
updoot for visibility
I don't understand a damn bit of this - but I'm excited 😆
This is the way
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What does it mean when its minted then "burned" exactly?
They created the token and then “burned” it by transferring to a designated address (0x0…1) where tokens are sent to be burned and never heard from again
So OP, does this mean the 14/7 date was important or not? Because I’m not sure what to believe anymore
The date was put there as the launch date was for the next ethereum launch which got pushed back to … Aug 4th? I think? My brain is tired. But my other thought was leaving such an obvious “code” within that official GameStop NFT announcement could have also been an extremely good trap for the SHF and to prove where the actual market manipulation is. But I’m just a longtime lurker big time fan :) buy and hodl 🚀
The "London Upgrade" is what was released, it's already been put into the chain but when it will happen depends on how fast the transactions go. According to [this](https://blog.ethereum.org/2021/07/15/london-mainnet-announcement/):
> It will go live on block 12 965 000, which is expected between August 3-5, 2021.
Thanks for keeping us informed 💎🙌🦍💪🚀
I learned SO MUCH while not being able to comment on anything. I am grateful for the knowledge but refuse to be ok repeating that experience for other apes
Thanks for Sharing
Thanks for the post! Had no idea have been flying blind to recent events thanks to the trash at you know where.
I have no idea what I'm looking at or how this stuff works. But it makes me happy
This is interesting, thank you for sharing, I wasn’t necessarily looking forward to MoonJam, but now I’m super curious to see if this ends of being the grounds for a true test run
I went from late 30’s with firm grasp on technology to early 90’s with a Zack Morris cell phone real quick.
What the fuck did I just read? 🤷🏽♂️👴🏽
*MiniDisc player intensifies*
I’m going to eat mushrooms and stick to selling after this breaks the 6 digit realm.
Hell yes! Gamestop hard at work! 😁
What does this mean? I'm a millennial with zero crypto
Very nice. I can't believe I missed this with how often I've been poring over the contract page on etherscan. Well done!
I missed it forever too!
Can someone help me understand the process of how a coin is made and given value to? For example, I'm aware of miners using hardware to do calculations and the such. However, does that mean crypto coins require miners, so that they can increase the amount of coins that exist? Where does minting and burning go in this process?
I'll try to help, but if someone else reads this, correct me where I misspeak:
Different cryptos have different consensus (mining) methods. The consensus method that ethereum (and bitcoin, and a lot of others) uses is called proof-of-work, which are the calculations you mention above using powerful hardware. They all can have their own code, so a crypto can have a predefined max number of coins (like bitcoin), or no predefined max (like ethereum). The miners solve those complicated calculations, and are rewarded with coins when they solve a block. Coins like Bitcoin have a mechanism built in that reward less and less coins per solve, over time, which makes them more and more rare, which, in part, is how its value is derived. Ethereum has a feature called Smart Contracts that allow you to write code on the blockchain to facilitate all kinds of things. That code can have automatic mechanisms that execute when certain conditions are met, and facilitate all kinds of different things, like NFTs.
Burning is the action of sending a certain amount of coins to a dead address, so they can never be used again. For cryptos with a predefined max supply, this lowers the overall supply, increasing the rarity, thus increasing the value of the coin (at least in principle).
Minting an NFT is basically adding a block to the ethereum blockchain (they can exist on other blockchains, but ethereum is the most common, I believe) that says you own a particular thing. That thing, in the case of NFTs, is a token that represents a non-fungible asset, like digital art. So, you're adding a block that says, "I created this piece of art at this address", and no one can dispute or change that. And then you are free to sell it or transfer as you wish. If someone really likes it, they can buy it for however much they think it's worth, just like physical art you can sell for cash.
That was a really basic description, but I hope that helps.
Again, if someone notices where I've gotten something wrong, please chime in.
Very well explained in my humble opinion
Appreciate this info very much. Thank you so much 💎🦍🙌🦍
Remember when we first saw the NFT website and the address we followed showing that they had created one GME token?
Well they did the same thing except this time, they didn’t leave the second GME token in a wallet. They transferred it to an address that looks like 0x000000000001 (not the exact one because I’m too tired and lazy right this second).
When you transfer a token to this address it’s considered “burning” it because there’s no coming back from sending it there. It is effectively dead.
I hope this helps! I knew nothing about any of this prior to like may, so if I can learn we can all learn at least enough to become subject matter experts to then teach the rest of the world about the upcoming Metaverse :)
Bingo! You got it. It’s basically just learning more slanguage (just got why it’s called slang right this second lmao) and figuring out the process. I’m happy to explain more when I actually know :)
Commenting to come back later. Thanks for the wrinkles
Someone did talk about it (alongside the other 'teaser' one that the mods we're concentrating on) and their post got deleted like 3 times
Oh no way. I didn’t see it for sure or I would’ve stalked that user (in a sweet way- for friendship) for someone to talk to about all this. So glad we can now!
"I'll see you anon"
Game on, "I'll see you soon"
I keep seeing this take. I don’t buy it. 99.9% of the time this is short for anonymous
I tend to agree with you.
But I didn’t realize there was a second meaning that also may apply. Thought it was interesting.
It’s also literally the first result when you search “anon” - soon. Game on, soon :)
Made famous in modern times through Shakespeare's writing
Not always assuming the obvious is how you go backwards at the beginning of a big race ;)
Love the Ready Player One reference!! Hehe 😜
It could be both, really. Anonymity is a key feature of the whole crypto ecosystem. RC clearly has a love of saying a lot with only a few words.
Started picking up on that yeah :/
It’s nothing to worry about since we know now. I see him as the shill final weapon… cause he builds trust with community and plays the game… but his actions are so transparent it hurts. Whenever he is suspected of being shill.. you’ll see a Twitter post from him saying nonsense towards Cramer or sec to get us on his side…. It’s just lol at this point
Just a few billion more to go!
Not staying educated about what it all means helps no one though. None of this is me excitedly sharing a new fake coin for people to get scammed on. This is me trying to learn what the heck all this means while trying my darndest to keep my fellow apes informed as well. It only helps us to learn as much as we can.
I am balls deep in crypto so I am fine: oh my bad I was sending money to a Nigerian Prince who lives in a Citadel.
Whay does that mean?????
Is this a good thing or a bad thing? Still unclear how these tokens/coins/NFTs work.
Finally, some actual fucking *information.*
I just made this post to help apes get a bit more familiar with crypto:
I don't know much about etherium, but don't think Rensole is any expert in it either, why was it sent to him?
It wasn’t “sent to” rensole. These are my replies to their tweet about the NFT stuff
Is the nft legit? Has it been endorse by gamestop themselves? All I know is RC endorses the website with the secret game. That's it.
Without any announcements from the company itself, any nft is sus
It's connected to the gme nft site, yeah.
Has this been endorsed? Any word from Gamestop? Just read that you can mine there? And you can consider any eth mined is given to them.
As I don't know shit about mining eth, I'm not going to dip anything there, so I'm hoping a few more DD to either confirm or debunk this would be helpful.
Im not spreading fud, I'm just overly cautious to this coin thing. As I don't know shit about it.
This would have been debunked immediately had it been a scam coin and not one proven to be linked to the GameStop address. It’s legit. I recommend creating an etherscan account on their site so you can give the addresses nicknames. It makes understanding all of this much easier.
The “announcement” was from GameStop. Understanding the announcement and everting else has been the issue.
So no announcement officially.
Nothing can stop what is coming. I’m tired of people saying I’m crazy. COMING SOON TO YOU 🇺🇸TRUMP 2021🇺🇸
No politics. If you’re smart enough to see the entire system is corrupt, you’re smart enough to see that the red team vs blue team bullshit is keeping the majority of Americans distracted from the people who pay them to do nothing.
Trump was never in it to help anyone but himself. He preyed on millions of Americans who saw the corruption and unfairness in Washington. But he made it worse. Focus your energy on buying and hodling. Guaranteed to help you more than any politician ever could.
Be like RC: pay attention to what they do, never what they say.
It’s ok to downvote the truth, bro. I blocked you anyway. Good luck shilling for politicians though; they’re one level beneath the hedge funds paying them to keep fucking us all over
Typical pussy liberal. Gets told about the real world and can’t handle it so they break down and block you :( That’s why you FOMO’d in and don’t even understand your own fucking post. Game On ANON. Not game on gamer you fuckwit. JFC no wonder no sub can handle anything, the entitlement in this community is surreal.
THEN PAY ATTENTION TO WHAT HES DONE? Nothing pisses me off more than ignorant people who think they’re into politics but talk shit on Trump. I’m here because of Qanon. That’s why I have 5000 shares at 25 years old. We’re in a simulation and you best wake the fuck up to why you are in the position you are. You think Biden is doing this? VP for 8 years? Senator for 30? Politician for life? Use your fucking brain before popping off like a never trumper riding this rocket because you were in the right place at the right time.
Edit:He preyed on the millions.. get fucked. Trump got in and my grandparents insulin dropped 70%. FIRST TIME EVER. Biden sent oil and gas overseas and MURDERED Michigan. MURDERED. A whole states economy of GM and the motor city of the world. Now it’s trash. Trump SAVED millions and now I’m retired for believing in him. Clown on what you will but that’s why I am where I am and never trumpers are where they are. Smell the coffee because you’re in the wrong reality.
I have about 50 quotes from Trump saved on my phone, and when people like you say how great he is, i remind myself of the completely fabricated, hateful, or just absolutely illogical statements he has made.
Of course you can say bad things about biden and democrats. Disliking Trump is not about supporting Nancy Pelosi, or supporting communism.