Earlier quoted context omitted.
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And what do you think you are adding of value here?
Calling out a charlatan has significantly more value than someone publicly exposing their fragility.
Molly White Tracks Crypto Scams. It’s Going Just Great
191–200 of 326 posts
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#192Earlier quoted context omitted.
> Hearing "no legitimate use case" arguments is awfully annoying when you get objective use from the thing being criticized Better phrasing would be niche legitimate use cases not worth supporting, at least not domestically, if you’re America, the EU, China, India or Japan.
> not worth supporting Why not? Having open source protocols that compete with PayPal and VISA and aren’t funded and controlled by central states can be a positive thing.
> Why not? Having open source protocols that compete with PayPal and VISA and aren’t funded and controlled by central states can be a positive thing
Sure. That isn't what crypto has become. After ten years, it's fair to call it given the amount of fraud, dishonesty and resource misallocation. Again, not saying ban it. Just tax it, regulate it closely, and keep an eye on the folks doing it to make sure they're focussing on doing it abroad.
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#193[flagged]
Good to see you again, Vinay. You seem just as well-adjusted as last time.
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#194Earlier quoted context omitted.
The Web hit the scene in 1991. By 2003 how we shopped, worked, consumed media, communicated with friends and family, and interacted with information was in the process of changing radically. A million "little ambitions" to replace catalogue shopping and how hotel reservations were made were transforming how the world worked. Bitcoin hit the scene in 2011. By 2023 crypto's mostly a failed get-rich-quick scheme with a…
I don’t think comparing the timelines of vastly different technologies like this is helpful. Prior to the web, in the 1960s/1970s we had packet-switching networks, such as ARPANET which were the basis of modern computer networking. The original ARPANET (precursor to the internet)was just used to connect computers at research institutions. I.e it wasn’t used by that many people relatively speaking. It took another 20…
> Building a secure, scalable, sufficiently decentralized distributed computer system is hard.
Have you heard of git?
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#195Earlier quoted context omitted.
> if you held dollars in your savings account from Jan 2009 to now (during ZIRP) you've lost 30.5% of your purchasing power One, obviously a policy failure. Two, don’t do this. Bank deposit dollars are optimised for transacting, not long-term value transport. For that, use Treasuries (including inflation-protected ones). It’s not the Falcon 9’s fault that it makes for a bad hammer.
Well I mean the recent bank failures showed the issue with treasuries, but sure it seems we agree more than disagree. You agree that holding USD is failure for long term value or even short term (3 year) value transport. My argument is that assets and crypto is needed to hedge the potential incoming USD destruction. And that because crypto has some nice properties that houses and the SP500 don't, it has a legitimate…
> I mean the recent bank failures showed the issue with treasuries
No depositors lost money. And like, yeah, Treasuries go up and down in price; it's dumb our regulations pretended otherwise. Particularly given the problem was fixed by Basel III.
> assets and crypto is needed to hedge the potential incoming USD destruction
This is gold buggery. Which means gold does a fine enough job.
> don't buy the "Crypto is a complete scam" argument at all
I don't, at least not with certainty. But there is certainty around the prevalence of fraud. That needs to be regulated, which means crypto needs to be taxed to pay for that regulation. Gold bugs are a famously-profitable client group for finance; crypto is the same. Let's put them on the same level.
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#196Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#197Earlier quoted context omitted.
Sure, of course. I wanted to show that Molly White doesn’t seem to be open to a discussion about the broader issues, and her blog is certainly very one-sided, which I actually appreciate (I love one sided stuff, because it tends to go out of its way to find the best arguments for its side, as long as you balance it with the other side). We are in a unique position to share our experience with her. We spent years quie…
I don't understand your logic - you specifically target someone who is highlighting all the scams that is being uncovered in the crypto world. You ask them to come on your show to talk about crypto (generating content for you and increasing your viewership) and then you think that because they aren't interested in helping you out your specific interests that somehow equates to she isn't interested in broad conversati…
I personally don’t need her to “increase our viewership”. Or even post it publicly. Could have a private discussion. Like I had with Ben Shapiro for example, about his “Jews in Name Only” thing. Or with Warren Mosler.
As I said, I care about substance. The people who publicly espouse one view day in and day out are some of the best people to discuss with.
It’s sad that you think everything is about grift. It’s like how many Russians cynically think everything US does has no goodwill behind it and must be about power politics and screwing others. Certainly a lot of it is, but I guess it is easier to assume that all the time when you have a cynical view.
By the way if you think Molly White would give me clout then I am a little bit surprised. I had no idea she was that famous or well-known.
Richard Heart got us the most views of any video on our channel. And so what?
Oh yeah… here is proof that you’re wrong. Most of my Noam Chomsky videos were posted on youtube as UNLISTED and got maybe a couple hundred views over the years. If I was chasing subscribers I’d post them publicly !
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#198Earlier quoted context omitted.
Which countries?
Choose almost any two countries in the world that don’t share the same union. eg: From GBP to CAD with Wise, transfer cost is > $5 (sometimes much more) and takes multiple days; compare with USDC on a rollup which is near-instant and < $0.50 regardless of the transaction amount.
Wise is near-instant it doesn't take multiple days. Even Western Union has money in minutes to over 200 countries [1].
Almost all delayed transactions are due to fraud. The delay is often implemented to protect the sender from losing funds.
How does crypto handle fraud?
[1] https://www.westernunion.com/us/en/restrictions-money-in-min...
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#199Earlier quoted context omitted.
Calling out a charlatan has significantly more value than someone publicly exposing their fragility.
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Oh I did Google you, it appears you occasionally end up as third author on a bunch of papers funded by grants that have never been put into any meaningful action, you "run" a crypto startup that seems to have no actual employees or users or momentum, you were involved in the ethereum launch but now exaggerate your role, and finally there are frequent examples of you behaving inappropriately as a response to someone lightly grazing your vast ego.
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#200Earlier quoted context omitted.
> You're assuming it breaks laws, but it doesn't have to, it just makes it easier to do something that's painful to do either by design or due to shitty economic circumstances Even if your sending end is regulated, at the other end, there has to be a regulated bank. If not, the person who is receiving the "money" could be breaking their country's laws. Cryptocurrencies don't magically change that. Otherwise, PayPal o…
> Even if your sending end is regulated, at the other end, there has to be a regulated bank. Are you referring to some specific regulation here?
The same regulations that mean you can't cheaply Venmo the person on the other end instead. If Venmo has to follow the law, cryptocurrencies have to follow the law as well. Being your own bank makes you liable to the same regulatory penalties that Venmo has to worry about.