Daily Tech News 14 June 2022

• So the gas price on the Polygon blockchain went over 12,000.
  
  

  Current #Polygon (#MATIC) safe low gas price: 62.1 Gwei
  Chart(7d): https://t.co/bo7LDRm3uJ
  Chart(24h): pic.twitter.com/WHhCq758Ow

  — Polygon Gas Price Chart (@MATICfeeChart) June 13, 2022

  
  
  Think of blockchain gas prices like, well, gas prices. The standard price on Polygon is 30, so think of that like 30 cents per gallon. And then you come along one day and you need to fill up, only the price is suddenly $120 per gallon.
  
  What do you do? Particularly when there are a dozen alternative fuels you can try if you're willing to spent the time and money to refit your engine.
  
  
  
• That jerk with the motorcycle needs to refit his engine. Will be only too happy to leave Old House for good at the end of the week.
  
  
  

• SpaceX has environmental approval for a full test flight of its Starship. (Ars Technica)
  
  The rules are kind of bullshit, ranging from bans on launches on holiday weekends to indirect lighting to avoid confusion in sea turtles to signposting for a post-Civil War Civil War battle, but it's approved.
  
  The full-stack Starship is bigger than the Saturn V and considerably more advanced - it's designed to refuel in orbit if needed, so it can carry its 100 ton payload not just into Earth orbit but all the way to the Moon or Mars.
  
  
  
• The Celsius cryptocurrency Ponzi scheme bank has suspended withdrawals because everything is fine. (Ars Technica)
  
  Celsius offered implausibly high interest rates on cryptocurrency deposits:

  In a January Bloomberg article, Celsius CEO Alex Mashinsky "told Bloomberg Businessweek that Celsius is able to pay such high yields because it passes along most of its earnings to its users. He said it's the traditional financial system that's ripping people off by taking their deposits, using them to make money, and then claiming it can only pay tiny interest rates."
  
  "Somebody is lying," Mashinsky said. "Either the bank is lying or Celsius is lying."

  Embrace, as they say, the healing power of and.
  
  From the comments, which are normally a dumpster fire and should be avoided:

  Any time some stranger promises to let you, yes you, in on their amazing investment opportunity that reliably and consistently outperforms other investment vehicles, you are being scammed. They are not your friend. If they had such an opportunity, they would hoard it zealously, borrowing against other assets in order to make a shitload for themselves.

  Ponzi is as Ponzi does.
  
  
  

posted by Pixy Misa at 04:00 AM

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