61–70 of 345 posts
Nah, who am I kidding? Who cares about the evil stuff done by BigTech? The money is so good it can buy them all the therapy they need.
I have dedicated the majority of my professional career to crypto. I am deeply passionate about the industry and its potential to disrupt the global financial system, and IMO it has already in significant and profound ways. Whether you agree or not, it has certainly brought the discussion of fiat currencies, central banks, and the philosophy of monetary systems from the backwater of forgotten academics to a real deba…
What we are seeing is the cryptocurrency market reinventing all the mechanisms the "traditional" banking industry has been using for decades. There is no disruption when the whole thing is doing exactly the same just unregulated combined with extremely high risk. Cryptocurrencies will always have the problem of interacting with the real world, where people are not bound by smart contracts and do not behave "rationall…
I just had the California Franchise Tax Board literally steal money out of a bank account of mine without any warning or notice. They left $0.01 in there and charged a $125 fee. I found out today they are claiming I owe taxes from when I wasn't even living in the country (and I was paying taxes then too!). In 2021/2022, I paid more taxes than I ever have in my life. I even over paid just to make sure that I was fully covered, including additional property taxes now that I purchased a place. I'm not some crypto tax dodger at all, I pay more than my fair share because that is the right thing to do.
Today, I ended up going to my other bank and pulling all of my money out as cash (thankfully they picked the 'wrong' account!). I can't trust the system to not steal even more money from me. That's messed up. Because monday is a bank holiday, now I have to wait until tuesday until my accountant can deal with this bullshit. What kind of broken system is this?
Things like this really make me want to double down on crypto. Not your keys, not your coins is taking on a whole new meaning for me. It is easy to say "well, that's never happened to me. crypto is a waste. i have no use for this stuff", but if all it takes is some faceless government entity to wipe out your entire bank account without any notice... then obviously something is wrong with the system.
As for future employability... that's silly. Any place that wouldn't hire you because of where you worked in the past isn't a place you'd want to work at anyway. I hire people because they have the skills and attitude that I'm looking for.
Sadly, investors aren't pouring money they are in tokens of goddesses.
If you think all your company is doing is scam, then by all means leave. Otherwise, stay if you want to.
I have not found many people who think what we are building is a scam once I explained and demoed.
Zoom and Netflix both lost 60-80% of their value in the last year and I don't see anyone declaring them dead. I don't work in crypto but I think there's a bit of a knee jerk reaction to seeing all the vaporware projects being wiped out (rightfully so). Consolidation and pruning of wasteful projects is good. If you feel like the work you're personally doing is positive, then don't worry about people dancing on the gra…
ETH has been a legitimate technology with real use cases for a decade now and all we’ve got is jpeg’s of apes. With the amount of real money, talent and hard work being pumped into this space we should have seen the use cases materialize by now. But there’s nothing. I’m sure someone uses it for something real, but I haven’t seen crypto actually solve a real problem any better than a plain old database. Please correct…
I've been in crypto since 2014. I just had the California Franchise Tax Board literally steal money out of a bank account of mine without any warning or notice. They left $0.01 in there and charged a $125 fee. I found out today they are claiming I owe taxes from when I wasn't even living in the country (and I was paying taxes then too!). In 2021/2022, I paid more taxes than I ever have in my life. I even over paid ju…
Same.
It's insane how little control and power you have as an average person. Your bank accounts can be frozen on a whimp, you can be put into a jail with no attorney because you cannot use your own money to pay for them and forced to confess to something you never did, then slave away for the state.
There are too many laws everywhere which means you've broken some. The only difference between you and the person who got caught is selective enforcement and someone wanting to make an example or fulfil their own goals.
And financial system will snitch on all of it.
You have no privacy. Is that not insane? You could be jailed for having a financial transactions on grindr in some countries in the world.
Countries impose financial and currency controls against the benefit of the people all the time.
It's not "freedom" if you cannot choose to take your money outside.
It's fucked up how normalised limiting freedom has become. You don't notice it. The state controls so much of your money forcefully with a threat of violence and isolation.
Your money that you work hard for, sweat for, break your bones for.
I think despite what the sentiment is, there is real value in crypto/blockchain. I mean if the US Government turned the dollar into a digital currency, wouldn't the sentiment change? Wouldn't DeFi be better with regulation? All the benefits of cryptocurrency/smart contracts/DeFi are real. The problem is there is no regulation. Without regulations most people are going to optimize for self interest. That is really ove…
>Wouldn't DeFi be better with regulation? Doesn't the "de" in DeFi imply the lack of a regulating body?
DeFi is like many new things, it is it’s own new category (a car is not just a fast horse or the internet was not just a better fax machine).
For example: in DeFi you can hold your own money (not just an IOU, but the real private keys). So it would make sense that things should be regulated differently, as often there is no custodial risk. So this set of regulation probably should be applied differently. Just an example. Other regualtion might make sense (depending of you ask), but the question arises what to do if they are not enforcable (just regulate with illegal spying tools, or let do and warn the public and maybe even stop thinking the state should protect everybody… these are only questions, I do not imply/recommend anything with these questions)
I think despite what the sentiment is, there is real value in crypto/blockchain. I mean if the US Government turned the dollar into a digital currency, wouldn't the sentiment change? Wouldn't DeFi be better with regulation? All the benefits of cryptocurrency/smart contracts/DeFi are real. The problem is there is no regulation. Without regulations most people are going to optimize for self interest. That is really ove…
DAOs are actually centralized bodies… “pay up and join the rule making club”.
The benefits touted would be amazing, but implementation-wise, are not based in reality and doesn’t account for use cases in a non-closed system.
It’s not sentiment; study Byzantine generals problem, CAP/PACLEC theorem, and hashing. Realize that the coin cannot be removed from the chain and vice versa to have those distributed benefits. Then look at the trade-offs from things like power consumption, etc. it’s not worth it. Maybe when we’re fully green and everyone has way more electrify than they can consume.
As for the rest. Don't worry about future employability and there is as much shady stuff going on in tradfi as in crypto.
Zoom and Netflix both lost 60-80% of their value in the last year and I don't see anyone declaring them dead. I don't work in crypto but I think there's a bit of a knee jerk reaction to seeing all the vaporware projects being wiped out (rightfully so). Consolidation and pruning of wasteful projects is good. If you feel like the work you're personally doing is positive, then don't worry about people dancing on the gra…
Netflix has been making bad woke movies for too long. If they had good content at least it would be ok, but they don't.
Most people are back in the office and the competition has caught up, so what is Zoom's justification for existence?
People don't seem to graps the cocept that equity prices are fair market values: the current consensus is that netflix is 80% lower than the high peak. At the height, money was free and i flation low. Now, and in the future, money will be very expensive and inflation high, so why would you hold growth stocks that also don't seem to be producing anything valuable (like netflix bad movie quality).