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Coffeezilla, a YouTuber Exposing Crypto Scams

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Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#81

Post by [deleted] »

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

#82

Post by [deleted] »

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

#83

Post by jxi »

johnebgd wrote: post #42

Blockchain has two proven use cases: 1.) Speculative investment assets. 2.) Moving value outside of a financial system. Unregulated stable coins have proven to be as stable as the titanic was unsinkable. Number 1 is really a problem because of Number 2. Number 2 is a fancy way to describe a primary use case being money laundering. Of course though there are some instances where that’s helpful like backing a foreign g…

This type of argument always uses the same conjectures:

- crypto can be used for money laundering therefore it is mostly used for money laundering

- one big stablecoin has failed therefore all stablecoins are unsustainable (the first one usdt is still around btw, and so is dai)

- etc

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#84

Post by _vertigo »

benreesman wrote: post #80

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 i…

Shorting something propped up by insane levels of hype is a recipe for massive losses. As they say, the market can remain irrational longer than you can stay solvent.

Shorting things you disagree with morally is also a terrible idea, unless you also think they are bad business. I disagree with a lot of “money printing” tech on moral grounds, if I shorted those I’d be bankrupt.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#85

Post by benreesman »

_vertigo wrote: post #84
benreesman wrote: post #80

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 i…

Shorting something propped up by insane levels of hype is a recipe for massive losses. As they say, the market can remain irrational longer than you can stay solvent. Shorting things you disagree with morally is also a terrible idea, unless you also think they are bad business. I disagree with a lot of “money printing” tech on moral grounds, if I shorted those I’d be bankrupt.

Sure, and for most people the right amount of short to be is just not long.

My broader point is that HN is pretty selective on which “useless” or “evil” things it will utterly lose its shit over and it seems to be, roughly, things where other hackers make a pile except YC portfolio companies.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#86

Post by runarberg »

alexb_ wrote: post #79
tshaddox wrote: post #75

Earlier quoted context omitted.

“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.

It isn’t even that good at anonymity for the most frequent use case compared to alternatives. By far the most transactions that may benefit anonymity are local and involve relatively low values. Cash is a perfect fit for that and gives you even more (and a lot easier) anonymity then cryptocoins.

Cryptocoins only prove them selfs superior if the transaction is located to far away to conveniently travel, or involves such large sums that gathering or carrying as cash becomes inconvenient (or impossible). I would think that over 99.99% of people never engage in such transactions where they additionally require—or even prefer—anonymity.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#87

Post by Fargoan »

danieldevries wrote: post #35

I've followed Coffeezilla for a while. I was doing an AI course from another youtuber named Siraj Raval in 2019. The course ended up being totally amateur and full of empty promises. Mr Zilla did a video about it: https://www.youtube.com/watch?v=7jmBE4yPrOs 'AI Guru makes $238,800 with misleading paid course. doesn't credit developers. | Siraj Raval FGF' Then Zilla started exclusively focusing on crypto/NFT scams. Th…

Agreed. It was a much more interesting channel when it was about scams in general. I suppose bsc shitcoins and what not are just easier to make videos about and it gets the views

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#88

Post by Feriti »

abxytg wrote: post #73
Feriti wrote: post #70

Earlier quoted context omitted.

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.

I'm totally lost on your statement.

So you try to use this tech for tech sake?

Independent if there is already an existing solution?

A project is trying to add Blockchain technology into a project I'm working with. Just that the Blockchain is owned by some company and that company was publicly asking people I don't know if they are able and motivated to operate a node for them.

This for example sounds way more complex than just creating a company which has the purpose of being the trust Anker, implemented with technology like CA, contracts etc.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#89

Post by everfree »

polygamous_bat wrote: post #71
tomrod wrote: post #68

Earlier quoted context omitted.

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.

Algorithmic and partially backed stablecoins (like Luna's TerraUSD) are perpetual motion machines.

Fully backed stablecoins (all other popular stablecoins with the arguable exception of Tether) are not perpetual motion machines.

Re: Coffeezilla, a YouTuber Exposing Crypto Scams

#90

Post by everfree »

Jerrrry wrote: post #77
tomrod wrote: post #68

Earlier quoted context omitted.

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"

For technology, that assumption is more likely than not, in a general sense.

https://en.wikipedia.org/wiki/Lindy_effect

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