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The Ponzi Career

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Re: The Ponzi Career

#161

Post by dylkil »

JohnJamesRambo wrote: post #10

It’s just more top signals. There’s too much money floating around if people want to invest in nonsense like this. When equities correct from the current Shiller PE ratio higher than 1929 I think you will find less people want to invest in a career token for someone. https://www.multpl.com/shiller-pe The Bowie Bond part of the post was fascinating by the way. Had never heard that story. He issued them in 1997 which i…

>There’s too much money floating around if people want to invest in nonsense like this.

Alex had his human IPO shortly after the march 2020 crash

Re: The Ponzi Career

#162

Post by dylkil »

bko wrote: post #9

> As I mentioned in an earlier piece, these tokens are not simply "certificates of ownership"; they can be pre-programmed to behave in a certain way (for example, pay a dividend each time a predefined event happens). I don't get how you can pre-program a contact to pay a percentage of your earnings. Ethereum is very restricted as to what you can program. I don't think you can just write "check stock price of X on CNB…

>I don't get how you can pre-program a contact to pay a percentage of your earnings.

Sablier[1] is a service that is like payroll management on ethereum. Employers can deposit your monthly wage and it will be streamed to you little by little over the month. If alex had this setup he could 'pre-program' some of these payments to his token holders

[1]https://sablier.finance/

Re: The Ponzi Career

#163

Post by cassepipe »

techbio wrote: post #134
cassepipe wrote: post #118

Earlier quoted context omitted.

Look at the indentation, I am clearly responding to the parent. Especially to : "Honesty and honor are worth more than money." I don't think "honorable" has the same meaning and I did not even see it when I read you post. I specifically edited my post to explain I was not accusing parent of supporting murder but maybe you were already writing yours and did not see that part. No it is just on my blacklist and the only…

The word was used in a sense . You hijacked the thread with an antonymnic homophone. Seeing this a lot recently.

I reckon it was a hijack but just as when I see the world love, it is always interesting to point out how the word has been socially used. It is not unusual for an hn discussion to become fairly distant from the original topic, this is conveniently allowed by threads, I did not think of it as a problem.

Re: The Ponzi Career

#164

Post by rusteh1 »

I enjoyed this article, and had never heard of Bowie Bonds! But isn't the sharing of risk in exchange for value just the concept of a full time job in any country with labour laws?

I work for a large multinational in a country other than America. I put up with additional bureaucracy compared to the life of a freelancer/contractor because I know that A) The company has a high chance of existing in 12 months B) I won't be fired without cause. In exchange the company is provided value in excess of my wage, training and other overhead costs. How is this different?

Re: The Ponzi Career

#166

Post by vagrantJin »

cassepipe wrote: post #110
LB232323 wrote: post #35

Earlier quoted context omitted.

It's not a character flaw or lack of skills in not being able to "sell yourself". It's a sense of dignity and pride as a working person. You are not a commodity, you are a human being. You may look like a commodity to a business owner, but you refuse to allow yourself to become one. Honesty and honor are worth more than money. There is money to be made in making yourself into a sort of corporate dog, but it will leav…

I am not really sure of what it is you call honor though. To me it is a word whose meaning I don't really understand whose main purpose seems to justify leaders in sending people to their death at war and by men to justify murdering women/other men. It is at best anachronic, at worst dangerous. (Of course I am not accusing you of promoting murder but that's a word that has a sad history and I hope we get rid of it in…

Well, this is a really weak argument. Honor is inward looking, about the individual and whether they can live with themselves.

>that's a word that has a sad history and I hope we get rid of it in the context of our daily lives

Please dont start that cancel culture nonsense because the word has previously been used in a way you don't like. You are a symptom of a society that lacks personal and community values to live by, believing mockery of pursuing the narrow, straight path. Im not talking out of my anus either, Im guilty as much as anyone here of perpetuating tech that has and will prostitute whole generations of people in ways never seen in human history. Think a little before you write.

Re: The Ponzi Career

#167

Post by chrisweekly »

ChrisMarshallNY wrote: post #13

I 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 hur…

I like (and can relate to) your comment, and the attitude it embodies. But I tripped over

> "I couldn't rely on anyone else to ... get me out of jackpots."

Huh? TIA for clarifying.

Re: The Ponzi Career

#168

Post by anm89 »

They might as well replace the word Ponzi with "thing I don't like" because what they are describing has zero connection to Ponzi schemes

Re: The Ponzi Career

#169

Post by alexmasmej »

Hey, Alex Masmej here. Just wanted to say that I had no choice because I had no money in the bank. During the start of COVID, I lost my only (and very first) source income at the time, and I lost all my savings in crypto (DeFi is dangerous even to crypto people like me).

Financially, this ISA freed me instantly, and gave me a newfound legitimacy as a crypto innovator. This was by far the best way I could find to break out as an entrepreneur.

Re: The Ponzi Career

#170

Post by maliker »

alexmasmej wrote: post #169

Hey, Alex Masmej here. Just wanted to say that I had no choice because I had no money in the bank. During the start of COVID, I lost my only (and very first) source income at the time, and I lost all my savings in crypto (DeFi is dangerous even to crypto people like me). Financially, this ISA freed me instantly, and gave me a newfound legitimacy as a crypto innovator. This was by far the best way I could find to brea…

Kudos to you. It’s a new and innovative technique, seems like it could help many more people, and you showed how it would work in practice. I thought being able to do the crypto trade directly on you website was a nice touch—definitely shows its easier and more accessible than the Bowie Bond example from the article.
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