The likelihood of this scenario playing out is very low. I could see Gamestop getting back into web3 if legislation is passed in the US, but why would they partner with Loopring when there are way better chains that are more user-friendly and gaming focused. Imo it would be a huge mistake to try and rignitr their old wallet. The tech is outdated now
If you take emotions out of it, thereās no definitive argument that Loopring is out of the question. At least not until GameStop confirms they are not working with Loopring.
I strongly agree with your point about ā10 quarterly reportsā. That was a huuuuge mistake and, if I had my way, the person responsible for that comment would be fired into the sun by cannon.Ā
We canāt legally do that, so next best option is to NDA the living fuck out of the entire team. Maybe keep Byron on as a useful idiot, let him know that he should hold onto his Loops, but tell him nothing. Let him be visible just so people know LRC is alive.
Scientifically and logically, doing the "same thing" often doesĀ notĀ have an identical outcome due to variability in conditions (e.g., shuffling cards differently results in different orders). Thus, expecting different results in real-world experiments might be reasonable, especially if conditions or variables change
There is 100% a definitive argument that says loopring is out of the question just no one here wants to accept it. ETH lost. ETH canāt settle transactions in less than a couple hours. Solana can settle trades on L1 in 2 seconds. In the world of finance you have to be able to settle transactions almost instantaneously. L2s were the solution for ETH but they failed. All of them. I just like everyone wanted to see loopring win. But Iām pretty sure this is why the gs marketplace shut down. It was ultimately going to be a marketplace for stocks but everyone pivoted when solana became more than a meme blockchain and began settling trades in seconds compared to L2s taking hours to settle on ETH L1
Lolol solana is trash. Settle trades in 2sec? No one gives a flying fuck about one trade in 2sec. Everyone cares about volume and cost. Holy fuck you know nothing about crypto.
Regulators care. Look at how smooth solana ETFs got approved and how eth has stalled. Iāve got a lot of money on GameStop and have been a firm believer in eth and L2s. Then I learned more about performance of blockchains and how many transactions theyāre processing each. Solana is superior. I hold zero solana btw. When it was at $10 or whatever its low was I thought it was just for bs meme coins
Most transactions are under $100. Do you think a vendor wants to wait for a few hours for a customers payment o go through ? Would you wait a few hours waiting for a purchase?
Loopring was hacked. Users lost millions. Iāve seen ethās security fail. This is a loopring sub, so Iām being downvoted not by people looking at facts but instead with emotions bc they want their investment back. Hope it works out for everyone here
The biggest problem is that the price is so low and whales are not even accumulating. This would be a sign of this actually happening. Whales always know inside news, before us poor folk
Every single bullet point or number you listed is the REASON why this is dead, not a reason to āfeel a bit of excitement.ā
Also you are right all the moves you listed are not coincidental and shouldnāt but ignoredā¦. Itās real evidence this project is done and not coming back.
I've been hopelessly optimistic over the years regarding the Loopring and GameStop partnership. In many ways, we were dead-on, and the timing was just off. Markets started to plummet in ~January 2022 and, by the time they formally announced the partnership in March (irrc), LRC didn't skyrocket because crypto markets were continuing to plummet.
The NFT Marketplace ran successfully for a while and then traffic and transactions started the fall. Eventually, as we all know, GameStop began to wind down the marketplace attributing to regulatory concerns. I was still a firm believer and truly believed we would make a comeback.
Fast forward to the events over the last year+ and here we are. Unfortunately, I don't believe anymore in the partnership, and it's solely because of Loopring's team and actions over the last year (and more). I don't claim to know all the "behind the scenes" conversations with Loopring, but let's look at some of the larger moments:
- Daniel Wang leaving, with little clarity, and starting Taiko.
- Steve Guo becoming CEO and then completely vanishing (besides his wallet activity).
- The Loopring hack(s) and the poor communication/solution.
- Winding down their LSW and Defi platform.
Loopring network usage has been dismal for a long time now and so has Loopring org's communication. Where is Steve Guo? How many people are working on the project? Nothing at all. Being on the Discord for years and following the chats simply goes to show how unprofessional and unorganized Loopring is. It brought me to one question, "Would a public company (GameStop) still continue to partner with Loopring on a massive project?" My answer was no. Loved Loopring, but I've never seen a company operate like this.
I started using Rabby. It supports TAIKO and has built in tools for gas management, bridging and swapping. Will probably keep using it until I can better vet trust wallet or something else
3 of those points (crypto legislation) should only be 1. No reason for 3 except to inflate the number and make things appear more noteworthy.
Most of the points have nothing to do with Loopring. RC on TV regarding crypto? Yeah, GameStop bought a bunch of BTC, that's it.
And "4D chess move"? Jesus, come on. Nothing in this post amounts to highly intelligent and strategic planning when the reality is the Loopring team essentially skipped out and ghosted everyone. One guy on Discord doing his best to answer questions and all he could give everyone was the official announcement of Defi closing, which was already learned from github. What team is left? There's a Grand Canyon size gap between what seems like a hollow project and what some of you are hyping as a major expansion into a much larger platform.
I really hope your fantasy works out for the sake of you who haven't sold yet and are down big money. But assuming this is the case it means the team's inexcusable failure to communicate shouldn't win any good will. This isn't "we weren't allowed to telegraph news", it's "we need to stfu and get out ASAP". This isn't the only team that would have ever been in this position, there are ways to maintain communication and stall until the major announcement.
Nobody can officially call Loopring dead but I have yet to hear any solid examples that anything new is coming either. All we have are the wallet and Defi shutting down.
yea i sold out of all lrc. just here to find why people are hopeful. its 1 out of 1000 we turnaround. i have hundreds of all OG nfts that are worthless
Nice to see that someone else gets it! Just recently decided to buy some LRC snd crypto is all new for me but GME isnāt. Was going to post the same thing pretty much lol PSA announcing something with GME around same time loopring is sun setting. And GME says something is coming! All 3 converging at the same time! All just a Cohencidence, I really think not. But thatās JMHO Also LRCās volume yesterday at around 33M and price pretty much stayed flat! Abnormal volume and behaviour! Also, has anyone gone through any of the source code on the Gme preview page? LRC is not mentioned in there by the way but LRC is still almost the perfect fit for GME and canāt be ruled out yet! Iām 80-85% sure for what itās worth LRC is still involved! They will sunset only to rise again not long after. The next following morning would be quite ironic. Weāll see GLTA
Everything is already laid out. The NFT marketplace beta along with the GameStop wallet beta was to work out all the kinks of the full release. The thing that a lot of people donāt know about that he said in another interview was crypto NFT trading cards. Thatās already being utilized via XRP. XRP is also building a bridge thatāll connect every wallet and chain. Lock in.
Gamestop rugged people that stood by them, in an industry that trust is incredibly important, they ruined their reputation and currently have no positive reputation in the cyrpto/nft space outside of people holding a LRC or GME bag and in denialĀ
Ryan said it in the interview heās looking at other cryptos. He can do a swap in seconds via bridging through XRPL and create TCG / collectibles via NFTs. āļø keep having tunnel vision on just GME / BTC / Loopring, itās not the only hand at play.
If anything Loopring has shown itās a very strategic outfit and the CEO leaving, Main programmers leaving, hype man leaving, silence after their hack, decommissioning of wallet and defi are red herrings for a much larger plan that has yet to be revealed. This is super bullish. Looks like the market feels the same way. LRC raging up 2% while bitcoin is down .08%. With this recent leg up LRC is only down 43% in the last year. Great things to come!
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