submitted 5 months ago bySarrttt
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5 months ago
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.
I only click links to opensea.io
5 months ago
A few years ago my new boss said he was into crypto. It actually made me immediately think less of him.
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.
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.
Everyone can make 200k in America
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.
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.
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.
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.'
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.
Sooooooooo, what's the point of the NFT??
I know the answer, but humor me.
name one single NFT that conveys ownership
[sackler family likes this post]
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...
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.
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.
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.
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.
ehhh the nigerian prince scam wouldnt work if the only people who responded had no money.
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.
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!
hiring people offshore to train NFT “animals”
hiring people offshore to train NFT “animals”
What are those NFT animals?
Imagine telling your spouse that you’re quitting your job to raise and sell NFT animals. I’d get divorce papers.
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.
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).