Bitclout mentioned here steals your keys.
https://twitter.com/_prestwich/status/1379963871792799744 If you used a non unique seed with them, consider it compromised.
The Ponzi Career
11–20 of 310 posts
Re: The Ponzi Career
#12If you're interested in this concept, you may enjoy the novel "The Unincorporated Man" which is set in a future where everyone (except the protagonist) has personal shares traded on an open market.
It's a bit thick on ideological propaganda of the extreme capitalist/libertarian type, but I found the exploration of the concept fascinating enough to get through most of it.
Re: The Ponzi Career
#13I enjoyed the piece.
Personally, I want no part of it, but I think it might work well for people who are not me.
I've always been "on my own." My life really is a series of watersheds, where I've been the only person to believe in me, before the event, and a whole bunch of folks seemed to believe in me, after the fact. Not a particularly good setup for selling "Chris-Tokens™."
Not a bad thing, in the long run. It hurt like hell, the first few times, but I realized that I don't have the personal skills to "sell" myself (like being able to spew jargon, sound like I'm TED-talking all the time, or beat LeetCode tests), so I can't blame folks for not wanting to "invest" in me. It is what it is. I come across as a socially-awkward dork, so people don't take me seriously. I'm actually fairly good at what I do, but If I mention that, it comes across as "arrogant," despite the enormous ocean of hubris that pretty much defines today's tech scene. I don't really have the skill to "humble-brag."
It taught me to live a conservative lifestyle, be Honest and Honorable, do top-shelf work, bust my ass, and not expect much from others.
I couldn't rely on anyone else to clean up my messes, or get me out of jackpots. It has taught me to learn what I have needed to learn, despite active roadblocks being tossed out by "gatekeepers," and it also prevented me from getting mixed up with some truly awful disasters; both personal, and business.
Re: The Ponzi Career
#14There’s literally nothing in this article that you couldn’t replace “token” or “coin” with “contract” or “membership” and have it work exactly the same. The idea of selling contracts against future income is interesting but putting the blockchain here is yet another solution in search of a problem.
Re: The Ponzi Career
#15There’s literally nothing in this article that you couldn’t replace “token” or “coin” with “contract” or “membership” and have it work exactly the same. The idea of selling contracts against future income is interesting but putting the blockchain here is yet another solution in search of a problem.
It’s protocol-ized finance. Sure you can do it all old school, but that takes a ton of effort and makes your situation a unique snowflake. If you do it the way everyone has agreed on with tokens, all of your tokens plug into the existing infrastructure, is standardized, and makes the cost of capital go down.
Why people continually can’t understand this, and keep saying “buh buh buh mysql and lawyer fees! No need for blockchain!” is a failure of imagination.
Re: The Ponzi Career
#16There’s literally nothing in this article that you couldn’t replace “token” or “coin” with “contract” or “membership” and have it work exactly the same. The idea of selling contracts against future income is interesting but putting the blockchain here is yet another solution in search of a problem.
> The idea of selling contracts against future income is interesting
Isn't that also basically what any interest bearing loan/mortgage is?
Re: The Ponzi Career
#17"Isn't this the same as traditional student debt or, worse, indentured servitude? Not really"
Saying "not really" doesn't make something so. This is, literary indentured servitude. By definition.
Re: The Ponzi Career
#18Interestingly, there's nothing particularly novel about investing in a person's early career to reap late-career rewards.
In America, it used to be that parents and employers would invest a lot of money in raising and training young adults, respectively. But more and more, there's less money available to support these programs.
Given this situation, it makes sense that early-career people would have to look elsewhere for people willing and able to invest in them.
Re: The Ponzi Career
#19There’s literally nothing in this article that you couldn’t replace “token” or “coin” with “contract” or “membership” and have it work exactly the same. The idea of selling contracts against future income is interesting but putting the blockchain here is yet another solution in search of a problem.
It’s protocol-ized finance. Sure you can do it all old school, but that takes a ton of effort and makes your situation a unique snowflake. If you do it the way everyone has agreed on with tokens, all of your tokens plug into the existing infrastructure, is standardized, and makes the cost of capital go down. Why people continually can’t understand this, and keep saying “buh buh buh mysql and lawyer fees! No need for…
Standardized contracts trade all day every day on exchanges all over the world. That’s how everyone doing legitimate business has agreed to do it. That’s where the existing infrastructure is. That’s where serious capital is.
Tokens, on the other hand, are the favorite tool of scammers.
Re: The Ponzi Career
#20There’s literally nothing in this article that you couldn’t replace “token” or “coin” with “contract” or “membership” and have it work exactly the same. The idea of selling contracts against future income is interesting but putting the blockchain here is yet another solution in search of a problem.
Putting the contract on the blockchain allows it to be traded like, but not as, a security while the SEC et al. drag their feet on classifying crypto-tokens as securities. Something like that.