Fintech dystopia
fintechdystopia.com
Fintech dystopia
1–10 of 288 posts
Re: Fintech dystopia
#2> They aren’t as stable as they claim to be, and the stability they do have arises from free-riding on the US banking system and monetary policy – and as we’ll come back to, if stablecoins are able to keep gaining market share, these parasites might eventually endanger their hosts.
Re: Fintech dystopia
#3> people are either still too afraid of looking like they don’t understand, still too deferential to Silicon Valley’s supposed technological expertise, or still too busy doing other things, to voice any skepticism about blockchain-based solutions
I'm not afraid of looking like I don't understand - I simply don't understand. I've tried reading a few "yellow papers" for crypto projects and they are so abstract and full of jargon that I never come away knowing more than when I started reading.
If anyone has a good resource for getting into the technical details of crypto please let me know. I would like to gain a full enough understanding that I can finally decide for myself if it's revolutionary or overhyped.
Re: Fintech dystopia
#4> Home ownership and the rest of the American dream seem out of reach for many people, and there’s very little safety net available when it comes to healthcare expenses, retirement, or just bad luck.
I empathize with the author, I really do, but you can't care about someone more than they care about themselves. If anyone has had the supremely unpleasant experience of trying to get loved ones to work out, they know. The last time someone (democrats) tried to tackle healthcare, they lost scores of seats all down the ballot.
https://www.quorum.us/data-driven-insights/under-obama-democ...
Re: Fintech dystopia
#5The funniest thing is why crypto bros talk about the Venezuelan taxi driver who has to pay Western Union $10 to send money home, and that is most of the justification for minting trillions of dollars of riches. Yeah OK Visa/MC have a monopoly but even they are worth less than most bros think.
Re: Fintech dystopia
#6> Home ownership and the rest of the American dream seem out of reach for many people, and there’s very little safety net available when it comes to healthcare expenses, retirement, or just bad luck. I empathize with the author, I really do, but you can't care about someone more than they care about themselves. If anyone has had the supremely unpleasant experience of trying to get loved ones to work out, they know. T…
Why do you think these two things are connected? Working out is a personal choice that should have zero barring on how we care for and help one another. For example, someone shouldn't have less access to healthcare because they don't or didn't work out.
Democrats losing support can be explained by several reasons that have nothing to do with tackling healthcare. It can be the fact that it ended up being a weak half measure in comparison to the strong desire for a universal healthcare system. Or completely unrelated to healthcare altogether, like the Hilary Clinton scandal fiascos.
Re: Fintech dystopia
#7I was in relatively early in the web as a developer, I was in early on the crypto movement, also as a developer.
These technologies didn't fix the problems. There is too much regulation, you can't do anything without a license. The only solutions are political, not technological.
Everything feels like a scam within a scam. I feel dizzy just thinking about it. I'm completely demoralised. Everything related to career feels pointless, sisyphean because of the bureaucracy and monopolization. Any work that pays well is useless at best, harmful at worst. It's either illegal or impossible to do anything which might provide value to people. Even if all the hurdles could be removed, I'm not even sure I want to contribute... For whose benefit? And I feel totally disconnected from the broader society around me.
I basically completely checked out career-wise. I'm good at faking though so I just fake it. I just started bullshitting my way through life. I hate it but everyone is just eating it up and loving it. What can I do? Just give the people more of what they want I guess. Value creation doesn't pay, bullshitting pays... People are living a lie and they love it when you build on top of it. If you just say the right words, they will deny their own eyes; this is what COVID taught me and I can see this in my day-to-day life. It's depressing, they are good people, that's why they assume good faith. I was just like them before, living in a bubble, I understand, I'm no better than them, just less fortunate. If they saw what I saw, they would probably do what I do. Many would do worse.
I feel like I need therapy from being this way. I have bills to pay though. I think I did everything approximately right but I've been ridiculously unlucky. I was operating on limited info and incorrect assumptions. Now, I'm stuck between a rock and a hard place.
It's illegal to be homeless in my country. It's illegal to live in a tent on 'your own' property, you are not allowed to build your own house without some expensive license and approvals... You can't do shit within your means. All the things which seemed unimportant to me before are now the centre of my life and on that plane of existence, I see scams all around.
Re: Fintech dystopia
#8The other half of technology is the people using it. If that other half is stupid, the technology side will have to overcompensate or will maliciously abuse them. Neither is good.
And I am talking about myself here. My only excuse is that I simply don't use my money. Which is not necessarily a good thing either.
Re: Fintech dystopia
#9> people are either still too afraid of looking like they don’t understand, still too deferential to Silicon Valley’s supposed technological expertise, or still too busy doing other things, to voice any skepticism about blockchain-based solutions I'm not afraid of looking like I don't understand - I simply don't understand. I've tried reading a few "yellow papers" for crypto projects and they are so abstract and full…
It's a revolutionary technology for the trustless, public exchange of data. It's overhyped as a financial instrument. Anybody who desires a completely public, completely trustless infrastructure for money or property is stupid.
Re: Fintech dystopia
#10> Home ownership and the rest of the American dream seem out of reach for many people, and there’s very little safety net available when it comes to healthcare expenses, retirement, or just bad luck. I empathize with the author, I really do, but you can't care about someone more than they care about themselves. If anyone has had the supremely unpleasant experience of trying to get loved ones to work out, they know. T…
I don't understand how this relates to the material. Because people can't get their spouses to exercise, anyone who cares about themselves should have to pay a premium to a private insurance company so they don't lose everything if they get cancer?