Coffeezilla, a YouTuber Exposing Crypto Scams • Hacker News Board

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#71

Post by polygamous_bat » Sat, May 14, 2022, 4:44 PM UTC

tomrod wrote: post #68

polygamous_bat wrote: post #64

Earlier quoted context omitted.

Because past performance is _always_ indicative of future performance, am I right? > When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value? You could have said the exact same thing about Terra/UST right until sometimes last week. It works until it doesn't.

Typically, past performance is indicative of future behavior. This is why statistical modeling in social sciences works somewhat okay. But there are extrapolation regions or shorter memory missing prior events that cause behavior to deviate from status quo expectation.

Yes, you could say that sometimes past performance can indicate future behavior, but it doesn't hold for crypto the same reason it doesn't hold for perpetual motion machines.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#72

Post by terafo » Sat, May 14, 2022, 4:45 PM UTC

colesantiago wrote: post #34

Coffeezilla is right. ALL crypto is 100% scams. There is no 99%. In fact 100% of the time, they have no use case at all and they are even worse than the current system. Crypto has totally failed time and time again to prove itself. We now need to come to terms with this failed experiment and call it all off and make them all illegal, where it rightfully should reside in. I lament to think of the time wasted of many e…

> `“I try not to be too negative about crypto,” he told me. “I think about how we can shape it into something better—more like the future that the people making it say they want. In that way, we’re on the same side.”`

Have you read the article?

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#73

Post by abxytg » Sat, May 14, 2022, 4:45 PM UTC

Feriti wrote: post #70

can16358p wrote: post #36

Good for crypto. I'm a crypto enthusiast and I think crypto has a great future and work in the field. However because of many scammy projects the whole crypto ecosystem now has a bad name. I'd love to see more and more scams being exposed for healthy adoption with less manipulation and real investment to projects that have the potential to change things instead of 400000% APYs.

So what are real use cases in your opinion? Something which really need crypto/Blockchain and is really trustworthy? Something which doesn't break the trust Anker of a Blockchain by having any dependency outside of a Blockchain.

"Something which doesn't break the trust Anker of a Blockchain by having any dependency outside of a Blockchain."

Only the critics look for this type of weird ideological purity. the rest of us just want somewhere to use the value we create.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#74

Post by glerk » Sat, May 14, 2022, 4:52 PM UTC

lvass wrote: post #67

glerk wrote: post #47

Earlier quoted context omitted.

> We now need to come to terms with this failed experiment and call it all off and make them all illegal Who is “we”? Ironically, crypto was invented to protect individuals against the authoritarian tendencies of people such as yourself. Your comment is making the case for decentralization.

>crypto was invented What are you talking about? David Chaum? NSA? Mesopotamian cryptography?

We stand on the shoulders of giants

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#75

Post by tshaddox » Sat, May 14, 2022, 4:55 PM UTC

alexb_ wrote: post #61

nyolfen wrote: post #44

Earlier quoted context omitted.

your talking points are from like 2012 man. off the top of my head: remittances, online retail, trustless decentralized computational systems

Remittances and online retail is already done quite well with centralized systems. "Trustless decentralization" is only relevant when you are doing things illegal. Which, as it turns out, is the main usecase of cryptocurrency.

“Nothing to worry about if you’ve got nothing to hide” goes back even further than 2012.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#76

Post by [deleted] » Sat, May 14, 2022, 4:56 PM UTC

tomrod wrote: post #68

polygamous_bat wrote: post #64

Earlier quoted context omitted.

Because past performance is _always_ indicative of future performance, am I right? > When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value? You could have said the exact same thing about Terra/UST right until sometimes last week. It works until it doesn't.

Typically, past performance is indicative of future behavior. This is why statistical modeling in social sciences works somewhat okay. But there are extrapolation regions or shorter memory missing prior events that cause behavior to deviate from status quo expectation.

[deleted]

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#77

Post by Jerrrry » Sat, May 14, 2022, 5:03 PM UTC

tomrod wrote: post #68

polygamous_bat wrote: post #64

Earlier quoted context omitted.

Because past performance is _always_ indicative of future performance, am I right? > When in the last five years have you had difficulty cashing out USDT, USDC, or DAI at dollar value? You could have said the exact same thing about Terra/UST right until sometimes last week. It works until it doesn't.

Typically, past performance is indicative of future behavior. This is why statistical modeling in social sciences works somewhat okay. But there are extrapolation regions or shorter memory missing prior events that cause behavior to deviate from status quo expectation.

"The reaper didn't come today, so he won't tomorrow"

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#78

Post by orwin » Sat, May 14, 2022, 5:09 PM UTC

photochemsyn wrote: post #11

I'd like to see someone like this really try to explain the global non-crypto currency system as it exists today in similar detail. This after all was one of the touted reasons for crypto - it would allow people around the world to hold wealth in a stable currency that wouldn't be subject to market crashes and currency devaluations. There are so many interesting questions that remain undiscussed - such as, to what ex…

The forex environment is barely less corrupt and scammy than the cryptocurrency environment. It does have legit use (arbitrage mostly) that are 'useful' for the global economy and production chain, but most of the guys pushing it to regulars people are crooks.

And "investing" in a currency is a scam. It's like investing in an company with not only no profit, but also no sales.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#79

Post by alexb_ » Sat, May 14, 2022, 5:10 PM UTC

tshaddox wrote: post #75

alexb_ wrote: post #61

Earlier quoted context omitted.

Remittances and online retail is already done quite well with centralized systems. "Trustless decentralization" is only relevant when you are doing things illegal. Which, as it turns out, is the main usecase of cryptocurrency.

“Nothing to worry about if you’ve got nothing to hide” goes back even further than 2012.

That has absolutely nothing to do with what I'm saying. What I am saying is that cryptocurrencies are so horrible in every way except anonymity that the ONLY reason you would use it is for illegal activities, speculation, or paranoia.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#80

Post by benreesman » Sat, May 14, 2022, 5:13 PM UTC

HN hasn’t been this rabidly, vocally mad at something since levels.fyi outed FAANG comp.

Ads? Evil, useless, fuck those people making 10x me. Recommender systems? Evil, creepy, fuck those people making all that money.

You can short this shit. You can short Google stock. You can short Bitcoin.

So if it’s all one big phony ads tracking machine learning Ponzi scheme scam? Don’t bitch and moan to the choir, profit from it!

Repeating the same arguments ad nauseum on here takes calories you could be using grind leetcode and get that leet job. ducks