Steve

jfc, indeed. Impressed by how crypto has such jfc staying power

I’ve never actually had the patience to watch his whole speech before! This gave me that patience and I winced so fucking hard when he talked about his wife calling it a scam

I know it’s obvious. I’m just marveling about a subject I’ve avoided thinking about for a good amount of time

On top of the libertarian agenda there is this gambling/betting agenda that is in the DNA of all this stuff. For example, immutability is a bet that the bad reasons for modifying something will always be more prominent than the good reasons. The reasons for modifying something in the future is an unanswerable question, but they’ve bet on an outcome. I remember reading the Arweave documentation about how they feel they can claim that it is a permanent storage solution based on tokenomics and all that shit. Just like the halvening, it’s a bet that the thing will exponentially increase in relevance, usefulness, importance etc. The bet is that more people are mining bitcoin because it is becoming more important for life. It’s like they’re so sure of the usefulness they never bother to talk about it, instead they talk about the nitty gritty around an imaginary world where the bet has paid off.

It’s like picking numbers for a lotto ticket you’ll buy in 20 years time and spending the next 20 years planning how to properly manage all the money you will win.

it’s so dumb! IT’S SO DUMB!

how embarrassment

they can waste energy in analog too

re: my question you answered - thanks!

I once worked for an enterprise blockchain startup, it’s all part of my origin story, and my first competitive analysis presentation was about how we were making a blockchain SaaS that competes with industry giants that could bolt on blockchain in a weekend if it had any legs. I’d say every enterprise blockchain product suffers the same fate

I keep thinking this too. Imagine knowing this and being responsible for it. Knowing no one uses the bitcoins and if they ever did it would need more water

water and wine are both liquids so I can see how he would expect other liquidity conversions

crypto reminds me of this time I was working for a digital agency and we landed a huge project to build a new from-scratch version of Australia’s biggest job site of the time. The delivery timeline was 3 months or so, but we kept going over. Each month we went over gave the client more time to change their mind on what had been built so far. The more they changed what was built the more bugs were created. By 8 months in it was clear that jira tickets were being created about 5x faster than they were being closed. Everyone knew it was impossible to finish. It became a standoff between agency and client to see who would give in first. We kept building and they kept throwing money at us. At one point our boardroom became a makeshift desk for 12 contractors.

Eventually the client gave in at the 12-month mark and had to sign-off on a successful delivery because our contract was written well enough to account for the effects of their meddling. We handed over a non-functional site and a couple of months later they paid another agency to re-skin their existing site.

Anyway… crypto and the idea that “we’ve just got to fix the bugs” reminds me of that.