Live data from Hacker News

Three Arrows Capital co-founder Zhu arrested in Singapore airport

techcrunch.com

21–30 of 130 posts

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#21
post #14
post #12

Earlier quoted context omitted.

I work in this area and to me, the tech is still super interesting. In particular, things like zero knowledge proof and related scaling/privacy solutions are at the forefront of cryptography in my opinion.

We just need to find some non-speculative and non-scammy uses for that tech.

I think you'll see people picking those techniques and using them in a hidden-from-the-user way (like how git and BlueSky use Merkle trees)

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#22
post #11

This just reminded me that cryptocurrencies is a thing, this has not been a prominent topic here for some time, I would say. Is the entire cryptocurrencies stuff eventually on the way out or would that be a misperception? Just checked Google trends, that also indicates a downward trend for terms like Bitcoin, cryptocurrency, NFT or Ethereum for the last year or two.

Crypto has always had extreme bull and bear markets. During bear markets the speculators leave, crypto's detractors once again proclaim its demise, and its believers anxiously wait for the next bull market.

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#23
post #11

This just reminded me that cryptocurrencies is a thing, this has not been a prominent topic here for some time, I would say. Is the entire cryptocurrencies stuff eventually on the way out or would that be a misperception? Just checked Google trends, that also indicates a downward trend for terms like Bitcoin, cryptocurrency, NFT or Ethereum for the last year or two.

So far, crypto has gone through multiple market cycles lasting about four years each. At the peak people get euphoric and think it will solve all the world's problems, then in the trough people think it's all on its way out - that it will slowly fade out of public consciousness until it's forgotten. I believe the reality is somewhere in between. But one thing is for sure: during the trough of every cycle, there's alw…

It would be a shame if this keeps happening, like: (2013) Bitcoin and its clones failed at all their stated purposes, (2017) the ICO craze left nothing of value, (2021) the DeFi/NFT bubble also left nothing but rubble. This stuff is zero sum, shuffling money without creating new things of enduring value.

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#24
post #14
post #12

Earlier quoted context omitted.

I work in this area and to me, the tech is still super interesting. In particular, things like zero knowledge proof and related scaling/privacy solutions are at the forefront of cryptography in my opinion.

We just need to find some non-speculative and non-scammy uses for that tech.

A solution in search of a problem? Maybe they could apply it to something like protecting a person's online identity rather than a digital coin/currency. Or something along the lines of Distributed Apps instead of DeFi.

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#25
post #14

Earlier quoted context omitted.

We just need to find some non-speculative and non-scammy uses for that tech.

I think you'll see people picking those techniques and using them in a hidden-from-the-user way (like how git and BlueSky use Merkle trees)

> I think you'll see people picking those techniques

Those techniques were already invented and in-use long beforehand though.

I think that needs emphasizing, because sometimes it feels like... Imagine that fans of the Segway claimed it will replace all other forms of transportation, and a worrying number of them are still out there crediting the (failing) product for inventing the wheel.

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#26
post #17
post #5

Earlier quoted context omitted.

“The wheels of justice turn slowly, but grind finely”

Indeed. "Egregious" in the court of public opinion isn't the same thing as a legal case put together rigorously by prosecutors arguing against the finest defense lawyers that scammers' money can buy.

Here's a rebel idea: In court cases, have the scoreboard weighted by the AGI of the lawyers.

define pro = accuser, con = accused

If the "pro" side has 10 points and the "con" side has 5 points, and the con side's lawyer makes 1/3 the salary of the pro side's lawyer, the con side wins the case.

Another rebel idea: If either side chooses to not use lawyers, the other side is also not allowed to use lawyers. If either side uses ChatGPT in the courtroom, the other side is also allowed to use ChatGPT.

Yet another rebel idea: The lawyer budgets of both sides must be equal. If you have more money to spend on lawyers you are required by law to give some money to the other side for their lawyers to make the budgets equal.

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#27
post #11

This just reminded me that cryptocurrencies is a thing, this has not been a prominent topic here for some time, I would say. Is the entire cryptocurrencies stuff eventually on the way out or would that be a misperception? Just checked Google trends, that also indicates a downward trend for terms like Bitcoin, cryptocurrency, NFT or Ethereum for the last year or two.

So far, crypto has gone through multiple market cycles lasting about four years each. At the peak people get euphoric and think it will solve all the world's problems, then in the trough people think it's all on its way out - that it will slowly fade out of public consciousness until it's forgotten. I believe the reality is somewhere in between. But one thing is for sure: during the trough of every cycle, there's alw…

It's conjectured that this is due to Bitcoin's subsidy halving schedule, which is every 210000 blocks or ~4 years. The reasoning is that the supply shock trends prices upwards and the rest of the market tracks Bitcoin due to many trading pairs between it and other cryptos. But the shock gets weaker over time and hopefully the nonsense will as well.

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#28
post #11

This just reminded me that cryptocurrencies is a thing, this has not been a prominent topic here for some time, I would say. Is the entire cryptocurrencies stuff eventually on the way out or would that be a misperception? Just checked Google trends, that also indicates a downward trend for terms like Bitcoin, cryptocurrency, NFT or Ethereum for the last year or two.

So far, crypto has gone through multiple market cycles lasting about four years each. At the peak people get euphoric and think it will solve all the world's problems, then in the trough people think it's all on its way out - that it will slowly fade out of public consciousness until it's forgotten. I believe the reality is somewhere in between. But one thing is for sure: during the trough of every cycle, there's alw…

Well, there's always the possibility that this time it will be the last. Maybe the last peak is when it reaches global awareness and there's no new people to bring into the system. And I suspect it already reached that in the last cycle with Superbowl ads and Filipinos working in Axle Infinity.

Although, I feel cryptocurrency is already too big to ever end completely.

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#29
post #26
post #17

Earlier quoted context omitted.

Indeed. "Egregious" in the court of public opinion isn't the same thing as a legal case put together rigorously by prosecutors arguing against the finest defense lawyers that scammers' money can buy.

Here's a rebel idea: In court cases, have the scoreboard weighted by the AGI of the lawyers. define pro = accuser, con = accused If the "pro" side has 10 points and the "con" side has 5 points, and the con side's lawyer makes 1/3 the salary of the pro side's lawyer, the con side wins the case. Another rebel idea: If either side chooses to not use lawyers, the other side is also not allowed to use lawyers. If either s…

Adjusted gross income?

Also, what are "points"? There's no scoreboard in a courtroom...

Re: Three Arrows Capital co-founder Zhu arrested in Singapore airport

#30
post #14

Earlier quoted context omitted.

We just need to find some non-speculative and non-scammy uses for that tech.

I think you'll see people picking those techniques and using them in a hidden-from-the-user way (like how git and BlueSky use Merkle trees)

Cryptocurrencies have not actually invented much new technology, they mostly combined existing ideas in new ways. Merkel trees, for example, are an almost 50 year old idea, zero-knowledge proofs are almost 40 years old, proof of work predates Bitcoin by 15 years which makes it 30 years old.
Post reply on HN