141–150 of 198 posts
I do like the idea of blockchain, but so many resources go into cryptocurrencies that make the future of blockchain mold toward this case instead of something more useful.
I work in crypto and have done for the last couple years. To be totally transparent, I worked on Cardano, then a couple random projects including a cosmos DEX and writing test suites for a qa consultancy, and now a startup DEX. I've been active in the scene (investing, reading papers, talking about crypto etc) since around 2016 and worked in it since 2019. I think there's a few things here. I don't believe that many…
Hi cosmos friend (I assume you mean $ATOM unless there is another cosmos) I agree there are some (how many is another topic) not very long term worthy projects out there being worked on due to this being a new area being explored. However value are given by people and who knows how different projects would evolve and there might be new value created/discovered later. There are definitely BOTH scams and real value pro…
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> I would argue that futures (and options) are still gambling. And you would be wrong because those instruments were designed to hedge (reduce) risk. If you are a grain producer and you are worried that the grain price might go down before your next crop you sell a future to lock the price, if you are a flour mill and worry that the price will go up you buy a future. Can all financial instruments be used for speculat…
And you would be wrong because those instruments were designed to hedge (reduce) risk. That tail now wags the dog. The futures markets in commodities are much larger than the actual markets.
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Ted Chiang wrote beautifully about exactly this sentiment back in 2017, https://www.buzzfeednews.com/article/tedchiang/the-real-dang... His point back then was that corporations themselves create incentives that are indistinguishable from rogue AGI, but I honestly think it applies better to your sentiment about crypto systems
Below is part of a longer essay I wrote in 2000 (to Doug Engelbart's "UnRevII" "Bootstrapping" list): "[unrev-II] Singularity in twenty to forty years?" https://dougengelbart.org/colloquium/forum/discussion/0126.h... But first, maybe one difference twenty years later is that I would emphasize the idea that our direction out of any singularity may have a lot to do with our moral/political direction going into a singul…
I'm listed as a founder of crypto startup and I think it's a scam. I got there by accident. I thought it's a scam before but now I'm more convinced. My best friend works for a company that is literally a scam (founder arrested etc). They changed owners but he wants to cash in on that. Another colleague actually bought into the whole nonsense and started something. Then we all got roped in. I want out but I'm torn bec…
You're the fall guy.
Don't be the fall guy.
It's a bit like asking "is the internet just a big scam" in 1998 at a magazine and newspaper trade conference.
The people here are too engrossed in the world they built and lack the imagination for how it could be completely transformed to offer you an objective answer.
My opinion is that 98% of crypto is either a scam or just bad ideas that will fail, but the remaining 2% will be the foundation the future of commerce and technology will be built on.
All ICOs are scams, without question. I don't know why anyone would ever get tricked into an ICO.
Most new coins are pump and dump.
So yes, overwhelmingly it's a scam, or at the very least, overwhelmingly manipulated.
Does that mean the core few who have been tricked into thinking it's a useful technology and truly believe in it are off base? I don't know, I don't know if the majority of crypto being used for fraud invalidates the few potentially useful hypotheses of crypto. I think the real question is can crypto survive at all as a useful system given it's inherently a great platform for fraud?
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> you will soon find that there are very little companies that you would allow yourself to work for. That’s literally the idea. People doing bad things should find hiring minions difficult.
"bad things" is a subjective concept. A former roommate was building a website in the mid 2000 for a dildo company. You probably don't care, but a religious zealot might consider it "bad". We're gonna make a deal, I'll let you work in ad-tech, and you let me build tool which allow people to shoot themselves in the foot.