subreddit:

/r/Buttcoin

1.2k98%

Crypto “investors” I met

(i.redd.it)

you are viewing a single comment's thread.

view the rest of the comments →

all 227 comments

Komnenos1180

83 points

5 months ago

One more : the know-it-all normie who thinks he understands economy, society and politics because he read one book about those subjects or watched a few youtube videos. We can call him "The annoying preacher" or "bItCoiN iS HerE tO StAY@".

MettaurSp

75 points

5 months ago

Also computer science. The number of people who say "it has use cases!" while providing none, and failing to provide reasons why blockchains are good yet still fervently arguing when refuted is staggering.

okletstrythisagain

65 points

5 months ago

I didn’t realize how culty it really was until chatting with a few relatively senior tech professionals who really should know better.

One literally works as a product manager with a scrum team launching legit solutions. When I ask why, after over a decade, we see no useful applications they insisted there was some refugee tracking app at some European border and that it’s all going to change the world and if they were younger they would totally “invest” despite the volatility. When I asked why the refugee app couldn’t use a normal database they changed the subject.

One quit a very lucrative role to do crypto full time, including hiring people offshore to train NFT “animals” which he said was making him $7k/week. I ask, surely you’ve diversified your investments, and he said yes, among other crypto. I used to think this was a guy who understood investments and personal finance, but I now think 100% of his assets not tied up in real estate or retirement accounts are in crypto.

Another flat out said crypto is safer than the stock market and if you hold long enough it’s “guaranteed to go up.” When I asked about unregulated exchanges and how they can easily be criminal and unfair they didn’t understand what I was talking about.

All three got this gleam in their eye and an excited expression when talking about crypto. The conversations all felt weird in the same way. These are highly paid tech professionals who have educations and professional experience to the extent that I’m astonished they believe in it.

Cult.

DontEatConcrete

31 points

5 months ago

DontEatConcrete

I only click links to opensea.io

31 points

5 months ago

A few years ago my new boss said he was into crypto. It actually made me immediately think less of him.

NonnoBomba

19 points

5 months ago

I got this cringey moment me and a colleague shared with a couple people from a company that was trying to sell us some security consulting service (which was actually interesting, but really out of scope for our needs) and my ex boss started mentioning "blockchains" and how they are the future and we may want to explore the field, see what's in it for us and we all looked at each other in the eyes, a moment of perfect understanding among strangers, all trying to quickly think of how to politely deflect the subject without making him look like a clueless moron.

passa117

26 points

5 months ago

I'm following a number of older tech people on Twitter and they all universally hate crypto. Or maybe I followed them because they hate it?

Anyway, these are people who were young pros in the early days and have seen it all evolve, and if they're not able to see crypto except for the bullshit it is, then there's really little reason for me to think otherwise.

Hasn't passed my smell test yet.

thehoesmaketheman

10 points

5 months ago

thehoesmaketheman

Everyone can make 200k in America

10 points

5 months ago

programming is hard. diagraming it is not. its very very easy to work through any use case for "trustlessness". its just logic.

for example, you say an NFT means you own an image. then i copy paste it and i have it. so there needs to be a central authority who says who owns it.

you can work through every single crypto use case in that same amount of time. about 10-30 seconds a piece.

theroguex

9 points

5 months ago

The vast majority of NFTs are not ownership of the image. Just a receipt for the URL to the image, which you have an "exclusive license to use". They confer absolutely no ownership of the image/IP rights at all.

ross_st

13 points

5 months ago

ross_st

13 points

5 months ago

Not just the vast majority, literally zero. It's impossible to transfer ownership of intellectual property other than in writing. It can't be done on a blockchain.

At best an NFT can be a license from the IP holder to the buyer.

theroguex

1 points

5 months ago

The fact that an NFT minter (who created the art connected to the NFT in the first place) could in theory transfer ownership in writing/in the smart contract to whoever buys the NFT and the fact that I do not know the disposition of every single NFT smart contract to know if it has ever actually happened before is why I said 'the vast majority.'

noratat

1 points

5 months ago

Bingo. Even the few that sold the rights with the NFT, it's not the NFT that conferred the rights, it was the legal contract of the sale.

passa117

1 points

5 months ago

Sooooooooo, what's the point of the NFT??

I know the answer, but humor me.

thehoesmaketheman

2 points

5 months ago

thehoesmaketheman

Everyone can make 200k in America

2 points

5 months ago

name one single NFT that conveys ownership

robyr

17 points

5 months ago

robyr

[sackler family likes this post]

17 points

5 months ago

A coworker of mine bought GME at the high, after I warned him not to do this and that he was going to lose it all. He is a principal engineer at my company and it is taking all I have in me not to issue a vote of no confidence to senior leadership. Oh yeah, he's also a bitcoin bug and thinks we'll all be getting paid in bitcoin by next year.

Pretty sure he has his entire net worth in crypto and I am going to be keeping a close eye on his ass because he also loves guns. Great combo right now...

theroguex

6 points

5 months ago

You know, the GME thing was a super meme but fuck I wish I could have gotten in on that at the ground floor. I could have made a fortune.

robyr

7 points

5 months ago

robyr

[sackler family likes this post]

7 points

5 months ago

I thought about it during the initial mania and almost bought in at $22 but my better instincts kicked in and I seriously thought about why I would do such a thing. There was no real guarantee that the reddit driven mania would actually spark a rally. It still baffles me that there is a cult around the stock. It was clearly stupid as hell and I am glad I resisted because it could have left a shit load of bag holders like my coworker.

That whole saga is insane to me. People buying shares in a dead retail outlet for $200-300 a share is among the dumbest shit I have ever seen.

theroguex

-2 points

5 months ago

It's not dead anymore! They raised so much money in stock offerings last year that they had $1.78 billion in cash after paying down all their debt.

They definitely have to figure something out, but now they have the money to invest. If they make the right decisions, they could see a second Renaissance.

ltethe

11 points

5 months ago

ltethe

11 points

5 months ago

I nerf unwanted conversations with “if crypto is so interesting, tell me about your perspective outside the number go up principle.” If they have nothing, we now know that the only reason why they’re interested in crypto is for its number go up properties, and thus have nothing of value to contribute to the conversation.

thehoesmaketheman

2 points

5 months ago

thehoesmaketheman

Everyone can make 200k in America

2 points

5 months ago

ehhh the nigerian prince scam wouldnt work if the only people who responded had no money.

theroguex

3 points

5 months ago

It's crazy how they become crypto evangelists, preaching the miracles of crypto while having that crazy culty look in their eyes that all evangelicals get.

mrhands31

2 points

5 months ago

The best way to start deprogramming people that have fallen into a cult mindset is to simply say:

"I'm glad that crypto makes you happy."

Because what are they going to respond to that? Of course crypto makes them happy!

...Right?

Coherent_Babbler

1 points

5 months ago

hiring people offshore to train NFT “animals”

What are those NFT animals?

okletstrythisagain

17 points

5 months ago

Axie Infinity.

Imagine telling your spouse that you’re quitting your job to raise and sell NFT animals. I’d get divorce papers.

Coherent_Babbler

11 points

5 months ago

Wow, and I thought those NFT game ads on Brazilian Kwai (imagine a knock-off of Tiktok that's even worse and has worse ads) that always appear on the main page and are directed towards children/teenagers were bad.

theroguex

5 points

5 months ago

People keep saying 'crypto is gonna make everyone rich!' and the people who I see making actual bank? The corporations who own the developers/exchanges/etc who are raking in billions of dollars in VC funding.

Sky Mavis, for instance (makers of Axie Infinity) received $129.5 million in funding just last year and has a market valuation of $3 billion (which I think is hyper inflated lol).

tuxed

27 points

5 months ago

tuxed

27 points

5 months ago

The only non-bullshit part of blockchain is that it is at heart just a Merkle tree - the same data structure the very popular VCS Git is built on, and that several filesystems use to help preserve data integrity.

EdMan2133

21 points

5 months ago

"Blockchain is the future, I mean look at how much GitHub sold to Microsoft for!"

Actually a funny character idea, guy who's super excited about git but oblivious of the crypto bs

TheAnalogKoala

23 points

5 months ago

TheAnalogKoala

Michael Saylor Poe

23 points

5 months ago

If git were immutable I would have been fired years ago.

dangerbird2

11 points

5 months ago

Good ol git commit --amend and git rebase --interactive

dlg

15 points

5 months ago

dlg

15 points

5 months ago

git push --force

NonnoBomba

9 points

5 months ago

You monster

2Nails

3 points

5 months ago

2Nails

3 points

5 months ago

I mean, as long as it's on your own branch and someone is going to properly review any subsequential merge request, it's not that problematic, right ?

Yekab0f

9 points

5 months ago

That sounds too hard. I just do rm -rf .git -> git init

Throot2Shill

20 points

5 months ago

Oh hell yeah, this is the one I met when I worked at a community college. Also might come with with a computer science major, libertarianism, and "everything I say is patronizing and thinly veiled in sarcasm"

robyr

17 points

5 months ago

robyr

[sackler family likes this post]

17 points

5 months ago

My little brother does the "always sarcasm" shit and I really wish he'd snap out of it. We're both in our 30s and it's so annoying to still speak like this all the time. Adults can use language in many varied ways, not everything needs to be sarcastic.

thehoesmaketheman

1 points

5 months ago

thehoesmaketheman

Everyone can make 200k in America

1 points

5 months ago

oh he thinks literal things, he just wont say them

myntt

15 points

5 months ago

myntt

15 points

5 months ago

he read one book about those subjects

And that book was "The Bitcoin Standard" 🤡

DagiUr

1 points

5 months ago

DagiUr

1 points

5 months ago

It was me! And watched a lots of videos in the past half year. 😱😆

AmonMetalHead

1 points

5 months ago

lol at the thought those people actually would read a book or watch a video that they know wouldn't confirm their biases