71–80 of 373 posts
I started a crypto startup once (don't do it unless you're Vitalik-tier intelligent) and this is pretty damn accurate. lol
Vitalik Buterin, the guy who thinks you can do quantum computing by running a quantum computer emulator on an ordinary computer [1]. Doesn't strike me as the sharpest tool to be honest... [1] https://twitter.com/VitalikButerin/status/127395790524347596...
From what I gather no one gives a shit, and their attitude seems to be we can buy off anyone who challenges us. The irony is the same people shaking me down for Bitcoin in exchange for an invitation to the marketplace/inner circle successfully have collectively called for for banning/suspending of accounts from various NFT marketplaces openly on Twitter.
Anyone here in media want to do a story?
Earlier quoted context omitted.
Why don't you be transparent and tell us the service?
In many cases it is very useful. In this case does it really matter who? It could apply to almost all cryto projects.
Earlier quoted context omitted.
Exactly. Nassim Taleb calls it an “open ponzi” — a ponzi that is openly known
Taleb has never revealed the details of his investment portfolio. For someone who screams "I don't care - show me the returns!" it's interesting that he cannot prove that his "black swan" strategy has ever been actionable for his own or anyone's portfolio, how to use his theories to make significant money vs. normal strategies, and any proof that his hedge fund made any money during the dot-com crash which you would…
Here is a free tip if you want to do it anyway. DON'T CREATE ANOTHER F**ING TOKEN! Build you product on an existing reliable fast and cheap blockchain that fits your needs. Focus on the product not the price of tokens on said DLT. You dont need a token. No, really you dont. Your tokens only use case is likely to transfer value and guess which token can do this better than yours? All of them! Simply because they alrea…
Earlier quoted context omitted.
> Investors only care about getting more press releases out so they can pump up the price of their discounted tokens, which have a shortened lockup period relative to something like stocks. It’s almost like a pump-and-dump scheme for investors. "almost" If even useful services are being abused for speculation, it's time to realise the entire space is fundamentally broken. We've already seen massive fraud in the space…
How is this any different from the "web tech" space at large? Where investors will push towards "data-hoarding", privacy-invasion, dark patterns and/or addictiveness or other psychological "abuse", more often than not?
So many of the smartest people in the world work in the areas of getting people to click on ads, mining personal information, finance and crypto. Areas that at best have no social value. It is quite depressing.
Crypto has no social value? I'm not in the space, but I think crypto has immense social value.
Lots of grand ideas that went nowhere because they are entirely unrealistic and divorced from reality.
Earlier quoted context omitted.
Vitalik Buterin, the guy who thinks you can do quantum computing by running a quantum computer emulator on an ordinary computer [1]. Doesn't strike me as the sharpest tool to be honest... [1] https://twitter.com/VitalikButerin/status/127395790524347596...
A random tweet about a concept not being "fundamentally ridiculous" is an awfully low bar to discredit intelligence. Have a look at his blog[0] and let me know if that reinforces your belief. Besides, if you read the whole thread you'd know he's acknowledging that if we could simulate QC classically, then we'd be able to have more efficient classical search algorithms. It's an if that's likely impossible at scale but…
Earlier quoted context omitted.
Don't waste your breath dude, HN has become a safe haven for people that like to bury their head in the sand and shit talk crypto. Yeah, anybody that's actually knowledgeable in it know that what they're saying are the same old sad tropes that the news has been training people to repeat verbatim, but they've boxed themselves in and they'll die on this hill.
Where is a place to get a broader perspective on this? I've tried subreddits for some of the projects, the cryptocurrency subreddit, and google and youtube. I have a lot of difficulty cutting through the noise. (My sense is that projects like Ethereum could be extremely valuable but that its value is currently hurt by the speculation on Ether making transactions far too costly. I'd be very interested in getting expos…
> Ethereum could be extremely valuable but that its value is currently hurt by the speculation on Ether making transactions far too costly
FYI the price of ETH does not affect the transaction costs. The fee market is independent. There's solutions to this in place and more being worked on though. The 3 biggest contributors will be EIP 1559 which is meant to level out the fees and make them more predictable, L2 rollups which scale through sidechains that have the each of their blocks confirmed on Ethereum's L1 with proofs, and sharding of L1. Ethereum is currently in a growing pains phase as these L2 options gain more traction/adoption, UX for them improves, and all activity migrates there. The end goal is for a majority of interaction to occur on L2 with L1 being used mainly for a settlement layer.
Here is a free tip if you want to do it anyway. DON'T CREATE ANOTHER F**ING TOKEN! Build you product on an existing reliable fast and cheap blockchain that fits your needs. Focus on the product not the price of tokens on said DLT. You dont need a token. No, really you dont. Your tokens only use case is likely to transfer value and guess which token can do this better than yours? All of them! Simply because they alrea…
Only downside is you can't inflate the supply for unique purposes. For example PeakD.com inflates hive to give content creators tips based on likes. Edit: I thought this was legitimate reasoning behind having your own token. I don't mean it in an inflammatory way. Please explain why you disagree.
BTW Coil.com pays content creators based on user interaction. Its however not self printed money its form actual user who want to support content creator rather than ad-companies. Ofc coil itself runs on funding money like any other startup nothing wrong with that.
Also a project can ask the team behind the DLT they want to use and possibly get some of their reserves. Its in their interest that the DLT is used for something. Actual devs who build something are worth way more than the thousands of people who just buy something because Elon Musk tweets about it.
And btw at the same time a dev can still bet on price gains or the token they use. I see no moral problem with that. If your product actually creates demand that moves the price up and you bet on that you own it.