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Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

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Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#91

Post by lamontcg »

jlcoff wrote: post #76
cormacrelf wrote: post #65

Earlier quoted context omitted.

Leaving out the pretty extreme lack of morality going on here, one reason that may resonate in this community of rich programmers and capitalists is that we shouldn't do it because fraud is inefficient. It is a huge drain on your economy. It is not a good use of capital or time. If for instance it is all a scam and everything collapses to nothing, that's ten years of completely wasted human effort. If you built it an…

I don't have any problem cashing in my 6 figures paycheck when pezzonavantes (from any side since forever) cash out 9 to 10 figures own scams. Honesty is for the poor.

> Honesty is for the poor.

The morality and ethics crisis in our country in a nutshell.

We're building bigger and better systems to scam and exploit each other, meanwhile China keeps on getting better at building real stuff.

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#92

Post by davidbanham »

exdsq wrote: post #48

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…

I have a job satisfaction indicator I like to call “the barbecue factor”.

You’re at a social event with friends and friends of friends. Someone asks “so what do you do?” and you answer.

They either go “huh?”, “ooh neat!” or “oh, gee, yeah isn’t it awful how $industry is $negative_outcome?”

Which of those answers you get can have a big bearing on your job satisfaction.

It feels like the opinions of others shouldn’t be such a big deal. It turns out they are a pretty big deal for me, though. It sounds like it might be the same for you, and I suspect it’s the same for most humans. We’re tribal animals.

Once I figured that out, I started factoring it into my career decisions. I’ve been much happier for it.

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#94

Post by imtemplain »

exdsq wrote: post #48

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…

No post body was provided.

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#95

Post by dragonwriter »

jlcoff wrote: post #87
cormacrelf wrote: post #77

Earlier quoted context omitted.

(1) You having money and being fine means you have the power to leave. (2) You cannot explain away 2008 as being the fault of the people who couldn't pay their mortgage. WTAF dude. What I'm getting from this is that you have wrapped yourself up in a nice blanket of ignorance and a nice comfy salary, and while you have come to the conclusion that the business you're engaging in is fraudulent, you've convinced yourself…

> (2) You cannot explain away 2008 as being the fault of the people who couldn't pay their mortgage. WTAF dude. When you are subprime rated, you would have to be a complete moron to take a variable loan on you life. But sure, poor them, it's not their fault, it's the mean evil banker who gave them a tool to shoot themselves with ... That the difference between you and me. I'm gonna give people the freedom to shoot th…

> it's the mean evil banker who gave them a tool to shoot themselves with

Well, since that tool was largely fraud from which the bankers expected to profit (and did, in the short-term, until they got taken down by the rest of the industry doing the same thing) by externalizing risk, yeah, it is.

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#96

Post by PikachuEXE »

Osiris wrote: post #69

I work at a cryptocurrency decentralized exchange that has recently converted into a DAO (Decentralized autonomous organization). I'm coming up on 4 years, with the last few months at the DAO. The first thing that you need to do to answer your question is define "scam". The dictionary definition is "a fraudulent or deceptive act or operation", fraudulent meaning "having a tendency or disposition to deceive or give fa…

Thanks for your length reply.

A cryptocurrency network (one of those in Cosmos) that I participated in converted into DAO last year and there are many healthy conversations (well not all).

I agree it's a great experiment that would last years. It's not just new technology but new concepts that were not possible without the new technologies.

It has value for me but is also "wild" like the early Internet. Pick and stick with the networks you feel "right".

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#97

Post by Taurenking »

davidbanham wrote: post #92
exdsq wrote: post #48

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…

I have a job satisfaction indicator I like to call “the barbecue factor”. You’re at a social event with friends and friends of friends. Someone asks “so what do you do?” and you answer. They either go “huh?”, “ooh neat!” or “oh, gee, yeah isn’t it awful how $industry is $negative_outcome?” Which of those answers you get can have a big bearing on your job satisfaction. It feels like the opinions of others shouldn’t be…

No post body was provided.

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#98

Post by dave333 »

NFTs are the equivalent of Beanie Babies but with several more zeros in the prices and will probably end the same way when everybody has hundreds of them. Icos came and went and pump and dump and rugpulls abound but like the dotcom and subprime bubbles not everything crypto is a scam - there will be the crypto Googles and Amazons and Metas that emerge. Bitcoin is probably a bit like Yahoo in that it will keep going but not be the biggest and most important crypto coin anymore.

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#99

Post by rognjen »

dave333 wrote: post #98

NFTs are the equivalent of Beanie Babies but with several more zeros in the prices and will probably end the same way when everybody has hundreds of them. Icos came and went and pump and dump and rugpulls abound but like the dotcom and subprime bubbles not everything crypto is a scam - there will be the crypto Googles and Amazons and Metas that emerge. Bitcoin is probably a bit like Yahoo in that it will keep going b…

ICOs, now there's a word I haven't heard in a long time.

Re: Ask HN: Does Anyone else working in a crypto company feel this is all a scam?

#100

Post by yread »

I know a C-level executive in one of the larger crypto- infrastructure companies and he sends money to his relatives living in a third world country using Western Union...

People, you only have limited time on this Earth, do you really want to spend most of your waking hours working on something you don't believe in?

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