31–40 of 99 posts
Do you think really $43 billion lost? Or rather that was the theoretical peak valuation? It just seems a staggering amount of money to be available for a new startup crypto project. Hmm, wonder if Do Kwon is reading this :)
Money was not lost, it either changed owners or it never actually existed.
This tweet aged well. - "none of us were notified of this at all; when i found out about this, the south korean prosecution told me they usually don't notify people of this because they might destroy evidence and/or leave the country beforehand" - "tbh people being treated as potential criminals like this is absolutely outrageous and unacceptable" https://web.archive.org/web/20220622034155/https://twitter.c... (To be…
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I understand the point. But why is that?
> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.
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> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.
You know, it's kinda funny that you mention gold bugs. Because gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN. Yet somehow it sits currently at $1,670/oz and is owned by all major central banks in the world.
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> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.
You know, it's kinda funny that you mention gold bugs. Because gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN. Yet somehow it sits currently at $1,670/oz and is owned by all major central banks in the world.
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You know, it's kinda funny that you mention gold bugs. Because gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN. Yet somehow it sits currently at $1,670/oz and is owned by all major central banks in the world.
Thousands of years of cultural significance enables gold to be assigned more value then it otherwise would have.
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> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.
>The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. And the problem with that is what? State power and law failed us.
"Expect for roads"
"And sewers"
"And protection from invaders"
"And enforced contracts"
And so on...
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>The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. And the problem with that is what? State power and law failed us.
> the problem with that is what? Generally: if you’re trying to fix something, understanding how it works is usually a good start. Specifically: pompous ignorance leads to gross negligence and criminality so stupidly brazen a B-list editor would send it back for being unbelievable. The sort that is rampant in crypto/web3.
Yes the fix is clear to me. Remove KYC+AML from the banking/monetary system. The expansion of crypto is in part a response to a pompous ignorance of government officials, attempting to impose a search of your papers merely for banking and the government implementing policies so stupid even a B-list editor wouldn't believe it.
The government failed so other actors came in, then everyone made a sad face that when the government failed alternatives were found.
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>The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. And the problem with that is what? State power and law failed us.
This reminds me of an old skit, I think from Monty Python. Where a bunch of people in ancient rome are pissed off. "What has Rome ever done for us?!". "Expect for roads" "And sewers" "And protection from invaders" "And enforced contracts" And so on...