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Binance lays off over 1k Employees

wsj.com

71–80 of 234 posts

Re: Binance lays off over 1k Employees

#71

We just need a law that bans cryptographic exchanges and transfers in the USA. They are not assets, they provide no real utility, they are just speculative devices that no longer function as originally intended; as a replacement for fiat currency. So, it simply needs to be outlawed and all the money repatriated into whatever currency it came from; most of it dollars.

The federal courts disagree with your opinion today https://www.bloomberg.com/news/newsletters/2023-07-13/what-d...

Re: Binance lays off over 1k Employees

#72
post #67

We just need a law that bans cryptographic exchanges and transfers in the USA. They are not assets, they provide no real utility, they are just speculative devices that no longer function as originally intended; as a replacement for fiat currency. So, it simply needs to be outlawed and all the money repatriated into whatever currency it came from; most of it dollars.

This seems pretty out of touch. They're the first challenger to fiat currencies ever. Outlawing them will stifle any innovation that arises from their development.

> the first challenger to fiat currencies ever

Except they fail at that. Any further innovation will be more of the same: grift.

Re: Binance lays off over 1k Employees

#73
post #39

Earlier quoted context omitted.

They have around 100M registered users, so approximately 1 employee for every 100k users seems reasonable.

That figure seems implausibly high. 1 in 80 humans on Earth are not only participating in crypto but specifically have an account on Binance? It certainly cannot be the number of active users.

It has been reported that CZ had 300 accounts himself, so like most things in crypto the 100M number is to be taken with a grain of salt.

Re: Binance lays off over 1k Employees

#74

We just need a law that bans cryptographic exchanges and transfers in the USA. They are not assets, they provide no real utility, they are just speculative devices that no longer function as originally intended; as a replacement for fiat currency. So, it simply needs to be outlawed and all the money repatriated into whatever currency it came from; most of it dollars.

Seems like a knee-jerk reaction. Why is the opinion always to ban or abolish a broken system instead of improving it?

Re: Binance lays off over 1k Employees

#75
post #21

Earlier quoted context omitted.

I don't know if I'm just naive, but I'm always confused when I see such a high headcount for companies with such simple tech, the staff of Twitter (even after mass layoffs) confuses me also. I feel like these companies are solving a relatively simple problem, and a single skilled engineer working full time could probably make and maintain a decent scalable solution.

True sign of the arrogant software engineer, believing they can single-handedly recreate an entire company just because they went to school in one subject for 4 years.

I work at one such company and I still think most of us aren't needed. I swear it's 90% red tape and BS holding everyone back. I know I can build things 30x faster outside of work, but I will also confess that it might not meet at the accessibility guidelines and i18n and be user tested and so forth.

Re: Binance lays off over 1k Employees

#76

We just need a law that bans cryptographic exchanges and transfers in the USA. They are not assets, they provide no real utility, they are just speculative devices that no longer function as originally intended; as a replacement for fiat currency. So, it simply needs to be outlawed and all the money repatriated into whatever currency it came from; most of it dollars.

That’s the opposite direction the federal government has moved.

You’re currently spewing nonsense.

Re: Binance lays off over 1k Employees

#77
post #37
post #21

Earlier quoted context omitted.

I don't know if I'm just naive, but I'm always confused when I see such a high headcount for companies with such simple tech, the staff of Twitter (even after mass layoffs) confuses me also. I feel like these companies are solving a relatively simple problem, and a single skilled engineer working full time could probably make and maintain a decent scalable solution.

I mean feel free to make the next Twitter with a single Engineer if you think it is possible.

Twitter is a weird example. The next Twitter has to be at least as good as Twitter without the growing pains. The initial product didn't scale well and probably was written quickly by very few people.

Re: Binance lays off over 1k Employees

#78
post #67

We just need a law that bans cryptographic exchanges and transfers in the USA. They are not assets, they provide no real utility, they are just speculative devices that no longer function as originally intended; as a replacement for fiat currency. So, it simply needs to be outlawed and all the money repatriated into whatever currency it came from; most of it dollars.

This seems pretty out of touch. They're the first challenger to fiat currencies ever. Outlawing them will stifle any innovation that arises from their development.

> They're the first challenger to fiat currencies ever.

Direct commodity and commodity-representational currencies were the first challengers to fiat currencies, and for about the first millenium after the first know fiat was introduced, generally won.

Cryptocurrency is not the “first challenger to fiat currency ever”.

Re: Binance lays off over 1k Employees

#79

I haven’t paid any serious attention to crypto-type markets in a while but historically BTC/USDT was a pretty good number to look at if you could only look at one and it’s (glances)…whoa back above 30k? That’s not like peak tulip or even close but historically like, high-ish I think. I don’t particularly feel like reading the entrails of the crypto chicken at the moment so I’m going to assume that the crypto market (…

Everything you need to know about crypto today can be found at https://web3isgoinggreat.com/

> and is definitely not an enormous grift that's pouring lighter fluid on our already smoldering planet.

This is actually a worry i have about in regards to crypto, the BTC network uses a staggering amount of power.

Ai is next of my power hungry worry list.

Re: Binance lays off over 1k Employees

#80

We just need a law that bans cryptographic exchanges and transfers in the USA. They are not assets, they provide no real utility, they are just speculative devices that no longer function as originally intended; as a replacement for fiat currency. So, it simply needs to be outlawed and all the money repatriated into whatever currency it came from; most of it dollars.

how would you get the money back? Wouldn't that tank the price of everything? Not saying I'm categorically opposed to that but you'd essentially be confiscating the crypto since it'd be impossible to sell it for anything close to what you paid, right?
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