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this post was submitted on 14 Jun 2026
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TechTakes
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Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.
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Person bets big on polymarket to profit from the continuation of the Iran war, gets screwed out of his blood money by site-wide oracle scam, complains on reddit.
Oracle as in a confirmation of facts protocol (used to be a thing with smart contracts), which in polymarket apparently amounts to token holders in an external DAO called UMA voting in proportion to their holdings to resolve disputes, and currently like 9 people hold over half the voting power, so yeah.
The future of finance and the future of information aggregation keep overlapping in the funniest ways.
Amazing that on first glance it looks like a smart contract 'all done by code' thing, but then the reveals comes and it is just a few rich people again.
Well yeah. Just because they call their crypto scheme an Oracle doesn't mean they've actually solved the oracle problem.
Wait that's even fucking dumber than I thought it was, good grief
Everything I've learnt about prediction casinos is against my will and all of it is somehow the dumbest shit imaginable. I went through crypto, NFTs, the metaverse, and 3 years of AI bullshit, and nothing reached this level of psychic damage before.
LB: Enormous fan of that chud griping in /r/CryptoCurrency of all places, and getting laughed at for falling victim to a scam.