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The Edited Latecomer’s Guide to Crypto

mollywhite.net

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Re: The Edited Latecomer’s Guide to Crypto

#31

Post by dvt »

frankbreetz wrote: post #26
dvt wrote: post #24

Earlier quoted context omitted.

> No they do not. I am an engineer in a technology heavily used by crypto projects and they have a really hard time recruiting. Absolutely not true and this is very typical HN bubble-speak. Been helping with hiring engineers for a stealth crypto startup for the past 6 months, and getting some of the best applicants I've ever seen, most coming from FAANG. To add to this anecdote, one of my friends (FB product manager)…

Are thr salaries much higher? You group yourself with TikTok and think the engineers are leaving for something other then money?

Token offers (which a lot of crypto companies give), often have more upside than RSUs (especially if you're bullish on crypto as a whole), and definitely have more upside than early "traditional" startup equity (which is basically worthless).

Re: The Edited Latecomer’s Guide to Crypto

#32

Post by Karrot_Kream »

insulfrable wrote: post #28
dvt wrote: post #24

Earlier quoted context omitted.

> No they do not. I am an engineer in a technology heavily used by crypto projects and they have a really hard time recruiting. Absolutely not true and this is very typical HN bubble-speak. Been helping with hiring engineers for a stealth crypto startup for the past 6 months, and getting some of the best applicants I've ever seen, most coming from FAANG. To add to this anecdote, one of my friends (FB product manager)…

That says a lot more about Facebook and the type of people it attracts than it does about the crypto industry.

Facebook is a huge employer, it makes it hard to believe that if they're losing folks to crypto companies that it's somehow localized to Facebook. What does this have to do with Facebook and the "type of people it attracts"? Are you arguing somehow that Facebook hires a very particular type of engineer despite common knowledge that the folks that work at one FAANG will usually be willing to work on other FAANG companies? Or do you deny that FAANG companies have the number of people to make the original statement true?

Re: The Edited Latecomer’s Guide to Crypto

#33

Post by jacinabox »

ludamad wrote: post #4

Quoting a 2017 book about how thinly traded bitcoin is? I appreciate the concept but it doesn't always feel like it rounds out the takes. (FTR, I appreciate it's thin enough to make market cap misleading, but up-to-date liquidity figures would be helpful if we're trying to criticize market cap)

Most bitcoin have never been sold. Bitcoin is a commodity that is intended to serve as a store of value, and other commodities like gold and silver do their work as a store of value without an appreciable fraction of them ever being sold. So using the term market cap is not a misleading measure in relation to bitcoin; it is simply used by analogy to how it would be used for a company; it's not literally implying that all bitcoin is the equivalent of shareholder value.

Re: The Edited Latecomer’s Guide to Crypto

#34

Post by insulfrable »

Karrot_Kream wrote: post #32
insulfrable wrote: post #28

Earlier quoted context omitted.

That says a lot more about Facebook and the type of people it attracts than it does about the crypto industry.

Facebook is a huge employer, it makes it hard to believe that if they're losing folks to crypto companies that it's somehow localized to Facebook. What does this have to do with Facebook and the "type of people it attracts"? Are you arguing somehow that Facebook hires a very particular type of engineer despite common knowledge that the folks that work at one FAANG will usually be willing to work on other FAANG compan…

Facebook is a company with shady ethic that attracted people willing to look the other way because the money is too good.

But they just lost 37% on the "too good" money.

So where do you think these people are going next?

Re: The Edited Latecomer’s Guide to Crypto

#35

Post by espadrine »

Karrot_Kream wrote: post #32
insulfrable wrote: post #28

Earlier quoted context omitted.

That says a lot more about Facebook and the type of people it attracts than it does about the crypto industry.

Facebook is a huge employer, it makes it hard to believe that if they're losing folks to crypto companies that it's somehow localized to Facebook. What does this have to do with Facebook and the "type of people it attracts"? Are you arguing somehow that Facebook hires a very particular type of engineer despite common knowledge that the folks that work at one FAANG will usually be willing to work on other FAANG compan…

Facebook literally made a cryptocurrency, a crypto wallet, and a number of associated products.

Following regulatory response, they have been downsizing it to a tiny speck of its former size.

Them losing folks to crypto companies is the most obvious result of the past five years, but it has more to do with their strategy struggles than the overall mindset of the engineering population.

Re: The Edited Latecomer’s Guide to Crypto

#36

Post by librish »

Until someone has built a crypto product that creates values (for the purpose of this discussion it can be a good or a service would be willing to spend USD on even if it wasn't a crypto) crypto is a negative-sum game. Any USD taken out of the system someone else has to have put in, plus whatever the miners take out. Fortunes aren't created, they are redistributed.

Re: The Edited Latecomer’s Guide to Crypto

#38

Post by twox2 »

librish wrote: post #36

Until someone has built a crypto product that creates values (for the purpose of this discussion it can be a good or a service would be willing to spend USD on even if it wasn't a crypto) crypto is a negative-sum game. Any USD taken out of the system someone else has to have put in, plus whatever the miners take out. Fortunes aren't created, they are redistributed.

How is it negative sum, and not just zero sum?

Re: The Edited Latecomer’s Guide to Crypto

#39

Post by Karrot_Kream »

insulfrable wrote: post #34
Karrot_Kream wrote: post #32

Earlier quoted context omitted.

Facebook is a huge employer, it makes it hard to believe that if they're losing folks to crypto companies that it's somehow localized to Facebook. What does this have to do with Facebook and the "type of people it attracts"? Are you arguing somehow that Facebook hires a very particular type of engineer despite common knowledge that the folks that work at one FAANG will usually be willing to work on other FAANG compan…

Facebook is a company with shady ethic that attracted people willing to look the other way because the money is too good. But they just lost 37% on the "too good" money. So where do you think these people are going next?

Yes and? The original statement was that crypto is having a hard time hiring, the GP rebutted that saying they're seeing FAANG engineers leave. You then try to make an ethical argument. So? What does that have to do with the reality that FAANG, who employes lots of engineers, is losing engineers to crypto? Or do we need to move the goalposts and scope this discussion to "ethically-approved" (TM) companies?

Re: The Edited Latecomer’s Guide to Crypto

#40

Post by carmen_sandiego »

trhaynes wrote: post #10

Does anyone know if there is a tool or platform that makes it easy to make/publish this type of "leave footnotes on an article"? The UX here is nice and simple, and I think there is utility in sharing feedback this way (vs. blockquotes in email, or Google Docs comments, etc).

Maybe https://hypothes.is/?
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