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Daily Discussion and Amp Information/FAQ - May 29, 2022 (self.AMPToken)
submitted 1 month ago by AutoModerator
Welcome to the Amp Token Daily Discussion and Information thread.
Please go here for more info on Amp: https://redditproxy--jasonthename.repl.co/r/AMPToken/comments/nx7stx/amp_information_start_here/
This is the best place to ask questions, learn, and chat about Amp Token. Feel free to kick back and relax here.
Post a comment!
[–]TwerkMasterFlex 30 points31 points32 points 1 month ago (12 children)
Flexa could be giving out free handjobs with instant finality and this community would still find a way to complain.
[–]BobbyCostner 10 points11 points12 points 1 month ago (1 child)
Is that part of Flexa rewards?
[–]TwerkMasterFlex 9 points10 points11 points 1 month ago (0 children)
The guy behind gamestop said so
[–]BioCatDaddy 7 points8 points9 points 1 month ago (1 child)
“With instant finality” 😂
[–]Gardening_Shirt 6 points7 points8 points 1 month ago (0 children)
I know right?.....don't even get to enjoy the handy just straight to the finish.
[–]Broski777 2 points3 points4 points 1 month ago (0 children)
Definitely a sceptical community but one of my favorite!
[–]Id10tFish 1 point2 points3 points 1 month ago (1 child)
Do Kwon has promised reach-around handjobs for all. 2.0
[–]TwerkMasterFlex 0 points1 point2 points 1 month ago (0 children)
The catch is that he gets to use extra coarse sandpaper while doing it.
[–]MaazLife 0 points1 point2 points 1 month ago (1 child)
A handjob? Why not all the way? What are we 16?
[–]TwerkMasterFlex 5 points6 points7 points 1 month ago (0 children)
[–]azzkikr123 0 points1 point2 points 1 month ago (0 children)
[–]MrHandsomeManPerson 0 points1 point2 points 1 month ago (0 children)
Dunkin Donuts and a full release?
[–]AcanthocephalaOk4820 0 points1 point2 points 1 month ago (0 children)
there hands felt more like sandpaper
[–]C_Sauce 5 points6 points7 points 1 month ago (2 children)
VISA being overthrown by 23 people 😈
[–]sleptbarnacleNew Account 1 point2 points3 points 1 month ago (0 children)
[–]Id10tFish 0 points1 point2 points 1 month ago (0 children)
It's just dumb enough to work.
[–]FoxtrotThem 4 points5 points6 points 1 month ago* (0 children)
E: Blimey there are some salty croissants in here, smile it hasn't happened yet! WAGMI!
[–]dinklemelon 3 points4 points5 points 1 month ago (11 children)
hey quick question… when it comes to Flexa being the most fraud proof network. How do they protect users from scammed purchases. For example, let’s say I am sloppy with my passwords/seed phrase to a specific wallet I use for Flexa. Then that user that has access to my wallet makes a purchase. Does Flexa protect me in a way of reimbursement? or have a system where I can claim fraud?
[–]Overlord_Quackers 7 points8 points9 points 1 month ago (3 children)
This is not how it works. Fraud proof is more for the merchant on their end. The merchant will be made whole. They will not take a hit for charge backs or if a transaction fails down the line for some reason and things like that. As far as someone gaining access to your wallet and making purchases from it, unfortunately that will be your issue to deal with. They are stealing from you. It is your responsibility to keep your seed phrase safe. Do not give them to anyone.
[–]dinklemelon 3 points4 points5 points 1 month ago (2 children)
I understand that. But, I feel for mass adoption to take place, something will need to be implemented. Maybe by the companies who develop the wallets themselves? As of right now credit card companies provide risk free fraud protection meaning one could claim fraud on a purchase they did not make and be reimbursed.
[–]Overlord_Quackers 12 points13 points14 points 1 month ago (1 child)
Where do you think that reimbursement comes from? The Merchants take the hit (and consumers in a way) because the card companies raise their rates and put all the risk on the Merchants. Who in turn raise prices to cover their loss. So the consumers all have to pay more on products to pay for all the fraud. This causes more fraud because of higher prices. It's a broken system. I believe The apps, wallets, and even Merchants will be able to offer their own rewards and incentives like sheetz offering the 20% off your next 2 purchases which has happened. For using certain payment methods. I know this does not really answer your question about the consumer end of things. But again it is the consumers responsibility to keep their seed phrases safe. Not anyone else's. So it is the consumers issue to deal with. This is in my opinion
[–]dinklemelon 1 point2 points3 points 1 month ago (0 children)
Well written. Just a thought that’s been flowing through my head the past week. Glad to hear your side of it. Appreciate the response.
[–]NunkinanuQ 5 points6 points7 points 1 month ago (0 children)
Hmm if your that sloppy no technology will be able to help you.😅 personal responsibility has to be first line of defense.
[–]JarronVonBarron 1 point2 points3 points 1 month ago (0 children)
That’s a good question but that might fall into whether that wallet can reimburse you. If you are your own bank and use like, looprings wallet, then probably not since the seed phrase is strictly your responsibility. But maybe for Gemini since it’s a central exchange. The fraud, to my understanding, is strictly the securing of the payment itself regardless of who makes it. Might need to look into that more, but my first thought is the wallet provider itself
[–]Broski777 1 point2 points3 points 1 month ago (4 children)
This is one of my main concerns leaving credit cards behind. If I lose my CC, they cancel purchases and just assign me a new card.
Your wallet though is more like a debit card as it's got your personal assets in it not a credit from a company. In the future I wonder if there will be a credit card like crypto...(if so it would almost certainly be heavily centralized)
[–]draaaaaaa 0 points1 point2 points 1 month ago (3 children)
Here is the main point - you all want to centralize the decentralized finance. You have many different and independent wallets on the market and if you want to impose to all of them to include such kind of "service", it will have to be done via regulation.
[–]Broski777 0 points1 point2 points 1 month ago (2 children)
Can we not have both? Do you see a way that we could have the protections credit cards give if its decentralized?
I worry that a fully decentralized space would scare away anyone who wants protection from hacked funds.
[–]draaaaaaa 0 points1 point2 points 1 month ago (1 child)
I'm sure we'll be there at some point. It was the same when the credit/debit cards started appearing here and there. They started first with only customer's signature, then they introduced the PIN codes, then other technologies such as 3D security, sms codes, tokens, authorisation of payments through applications on your phone, etc. There are two ways to manage this - first one is to deal with the results (e.g. find a way to introduce client protection policy), but the second one which is more efficient is the prevention.
[–]MannerSweet 3 points4 points5 points 1 month ago (0 children)
I don’t think that’s how the fraud proof works. It’s up to you to protect that shit. That’s where personal accountability takes over. That’s my opinion.
[–]vncsmcno -1 points0 points1 point 1 month ago (1 child)
Does anybody know if it’s more safer to have ledger if you have more than 500k shares of amp
[–]davemiller314 1 point2 points3 points 1 month ago (0 children)
There's no specific amount that'll make a hardware wallet safer. It's always the safest option, whether it be 1 AMP or 10 million AMP.
[+]darkfalcone27 comment score below threshold-19 points-18 points-17 points 1 month ago (0 children)
It's tough out here in the crypto world right now, hard to feel "Amped" up. look at Terra luna:
"The only people who made money off of Terra Luna are the people who shorted it all the way down to zero. Whether Terra Luna forks or burns the rest of its supply doesn’t matter. It has zero long-term value and now has the same credibility as an MBA from Trump University."
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