The cryptocurrency sell-off has exposed those swimming naked

Post by CPLX » Fri, May 20, 2022, 1:30 PM UTC

scotty79 wrote: post #111

CPLX wrote: post #103

Earlier quoted context omitted.

Or you could look at the absolutely factual statement that since Bitcoin isn’t a productive asset (in fact it’s the opposite it’s expensive to create) then every single dollar that will ever be taken out of Bitcoin is a dollar that some other person put in. This is not true of normal investments. For example the dollars you get from selling McDonald’s stock 30 years after purchasing it come from people buying hamburg…

> ... it come from people buying hamburgers So from money someone else put into this whole hamburger thing and won't get it back? > For example the dollars you get from selling McDonald’s stock 30 years after purchasing it come from people buying hamburgers. Some dollars not all, and most likely bot even the most. So the Bitcoin doesn't have this merchandise based mechanism for sucking the money out of the rest of th…

Post by nradov » Fri, May 20, 2022, 1:34 PM UTC

webmaven wrote: post #137

CPLX wrote: post #101

Earlier quoted context omitted.

If you’re financially backing and providing direct hands on strategic guidance to an active and blatant scheme to commit securities fraud then you are doing something you should not be doing. The previous sentence isn’t and shouldn’t be particularly controversial.

It isn't particularly controversial, but who is to say that the founders in question took the advice being given, or even showed up for the feedback sessions? Has anyone ever been kicked out of YC? Given the number of companies that have gone through the program, I'd be surprised if there wasn't at least one that completely ignored everything the founders didn't want to hear or do.

Post by blitzar » Fri, May 20, 2022, 1:44 PM UTC

gitfan86 wrote: post #142

blitzar wrote: post #126

Earlier quoted context omitted.

> not making any bets in crypto is not a sensible accelerator. You need to make bets everywhere and hopefully some stick. Thats not how it works; VC's are allowed to pass on anything they want, and it turns out they dont cut a fat cheque to every idiot who knocks on the door.

And how many Porn companies has YC funded? Zero as far as I know, is that because porn related companies have zero chance of being profitable? Or is it that they take a moral stance against that industry?

Post by nradov » Fri, May 20, 2022, 1:48 PM UTC

scotty79 wrote: post #111

CPLX wrote: post #103

Earlier quoted context omitted.

Or you could look at the absolutely factual statement that since Bitcoin isn’t a productive asset (in fact it’s the opposite it’s expensive to create) then every single dollar that will ever be taken out of Bitcoin is a dollar that some other person put in. This is not true of normal investments. For example the dollars you get from selling McDonald’s stock 30 years after purchasing it come from people buying hamburg…

> ... it come from people buying hamburgers So from money someone else put into this whole hamburger thing and won't get it back? > For example the dollars you get from selling McDonald’s stock 30 years after purchasing it come from people buying hamburgers. Some dollars not all, and most likely bot even the most. So the Bitcoin doesn't have this merchandise based mechanism for sucking the money out of the rest of th…

Post by Scoundreller » Fri, May 20, 2022, 2:07 PM UTC

blitzar wrote: post #148

gitfan86 wrote: post #146

Earlier quoted context omitted.

Implying that the Porn industry has no overlap with Tech is a stretch. Over 30% of internet traffic is adult content.

I implied nothing of the sort. Porn is 99% tech these days. Ashpalt laying is 1% tech.