/biz/ - Business & Finance

>Folks

im not reading all that shit

>>57457493
Keep posting reddit screenshots and I'll rape you and your dad.

>>57457493
skimmed two paragraphs of boring build-up to reach absolute diarrhea at the beginning of the third. dropped

>>57457493
>Imagine your eyes bleedin!

>plebbitors, again

>>57457493
Yeah that's why I like crypto.

>>57457493
> each person is an island, independent from the others, free to do as they please

He got me there. I feel that way.

>>57457493
>>57457518
>>57457527
>>57457529
>>57457531
>>57457559
>>57457562
>>57457566
>>57457594

Just finished reading it. Normally I dont read reddit posts but I must say he makes some valid points.

>>57457566
unironically true yes. it's the best libertarian project ever in 500 years

same exact energy from those who think ethereum will flip bitcoin, monero is what bitcoin was supposed to be, or think link or xrp is currently getting adopted by shadowy entities who will unveil themselves and make them rich.

>>57457493
annoying generalizing piece of shit opinion, reverse /pol/tard, probably what they call lefty-/pol/

>>57457598
Summarize it nigger

>>57457640
yes

>>57457640
cryptards want independence from society => cryptards want you to chemically verify everything that's in your food every time you want to buy food => cryptards want to end society
also muh guns bad and muh masks good and the state could never do something wrong!

>>57457707
Thanks nigga
U a real nigga

>>57457625
>monero is what bitcoin was supposed to be
Thats true though, xmr works better as 'electronic peer-to-peer cash' than btc does.
Even ltc works better

>>57457493
OP posted that larp on reddit so he could paste it in here and rile everyone up. Christ this place is dull rn

>>57457707
how can you criticize society when you are living in a society?

>>57457493
HFSP

Hey /biz/, I actually work in crypto, and I have a theory as to why midwit reddit types dislike crypto.

It boils down to this: They are smart enough to poke holes in ideas, but too arrogant and stupid to understand there are people much smarter than them who have solved said ideas.

Any retard can look at crypto and say "UHHH what if I lose my seed phrase?? A hacker can just steal my bitcoins?" but most people, up to a certain level (I call the midwit threshold at around 115) will accept when someone knowledgeable says "it's a bit different, but its quite safe if you follow these rules". These reddit idiots assume they are always the smartest little mama's boy in the room, so even when someone holds their hand and says "No, your criticism is invalid for this logically airtight reason...etc" they revert back to hole-poking, personal insults (because you insulted THEM for daring to disagree), bad faith arguments, etc.

At the very minimum, a smart person would hear the rebuttal from a highly paid expert working in one of the most well-funded (and therefore scrutinized) industries in history and think "Well I'm not convinced, but this guy clearly is better informed, and his sources are likely quadruple PhD academic math geniuses that develop this kind of stuff, so maybe I'll just shut the fuck up and assume they know something I don't."

>>57457493
>their goal is to end society, not fix it
God I hope so. I really really do.

>>57457598
Fuck you.
Because of you I actually read this.
tl;dr:
>author uses the phrase "position of privilege"
>blames crypto for encouraging (not cause, mind you) a low-trust society
>essentially blames all the people who hate society in current year (and the actions they take) for the state of society in current year.

>>57457885
spoken like every midwit that doesn't have the iq to read and understand the whitepaper, but thinks he understands what title encompasses

>>57458008
You hit the nail on the head. These people are just high enough to be considered above average but are orders of magnitude below people who are actually brilliant but they think are in the same level

>>57457707
If you are deathly alergic to peanuts you probably shouldn't just 'trust', and in fact should verify that the products you consume aren't going to kill you.

>>57457493
It just makes no sense. How does having better, uncheatable money constitute antisocial behaviour. You'd have to go through many hoops to explain that.

>>57458008
>At the very minimum, a smart person would hear the rebuttal from a highly paid expert working in one of the most well-funded (and therefore scrutinized) industries in history and think "Well I'm not convinced, but this guy clearly is better informed, and his sources are likely quadruple PhD academic math geniuses that develop this kind of stuff, so maybe I'll just shut the fuck up and assume they know something I don't."
yeah just "trust the experts" i'm sure that can never go wrong

>>57457493
>the brainchild of libertarians
Stopped reading there, I don't give a shit about anyone's opinion when that anyone believes that only the state can grant you rights.

>>57457598
>but I must say

>>57457529
based pajeet saving biz from Reddit screenshots

>>57457493
Lefttards seething over their extinction

>>57458510
But I'm not allergic to peanuts

>>57458008
I disagree they are not smart enough, but rather they are risk averse smart people.

They are the nerds that did everything right: Got a good tech job, got an A+ in most classes, etc. Obviously they will not support any disruptive system that is not approved by their Academia (their new mommy) and the Government (the daddy).

These people have some IQ to make some good money in current system, yet they don't have the flexibility nor are brave enough to test new technologies... because there is still not authority to say to them that they did a good job.

They are basically overgrown children, and I'm glad that crypto and AI is making hole in their sacred cow jobs.

In a sense, this is worse than just not being smart enough because people who are not very smart usually rely on experts or authority that may be less risk averse and actually introduce them to new stuff.

No wonder why Pride is the greatest sin in Christianity.

you forced me to post the pasta
ipfs://bafybeihzes6zmgzr5gesrbf7uzpq2nwpqo6ypcegmsp63rxe7mk5yk46am/

Reddit is full of people that "did the right thing" their whole life. They turned in their homework on time, they went to bed at curfew, they ate their vegetables, and now that they're adults they put money into their 401k, get an annual physical, and follow all the social rules about what you're supposed to think and do. But they haven't been rewarded for it. The implicit agreement for "doing the right thing" is that you will be rewarded for it down the line, and people who don't do the right thing will be punished. And naturally this sort of compliance leads to very mediocre people. They aren't rich, they didn't get the girl, they aren't cool. When they see people succeeding by doing the opposite of what they sacrificed to do, it angers and confuses them. It's not right that we should make money on shit coins, when they are struggling to pay their college debt. It wasn't fair that PUA guys got pussy when theres a nice guy redditor waiting to hold the door and pay for dinner after youre done fucking her.

Getting rich off of crypto isn't supposed to be how it works. You're supposed to do your homework, go to a good college, get a good job, and slowly pay off all your debt and a 30 year mortgage so you can retire at 65. To them, we're cheating and we should be punished for it.

Their strategy in life is compliance. Thats what they do in every aspect of life, look for authority and comply with authority. They believe if they comply hard enough, they'll be rewarded for it. So whenever anyone doesn't comply and they get rewarded for non compliance, it causes cognitive dissonance, envy, and anger.

Everyone has heard of the fight or flight reflex to danger. But not as many know there is a third strategy called "freeze". Rabits and other prey animals have an instinct to freeze when they are in danger in the hopes that by being very very still the predator will overlook them. Thats what redditors are, they're prey animals that freeze in the hopes that the hawk will take a different rabbit and leave them alone.

>>57457493

Lol, communist stooge be mad. Too bad comrade. You will never stop it, you have lost.

>folks
not reading further.

the cherry on top would be if he brought global warming into it somehow.

My dad works ar Nintendo and he said they're coming out with the Switch 2 on Christmas.

>>57459516
no wai

>>57457493
he's kinda right to be perfectly desu

>>57457493
>>57457598
Its absolute garbage. The 2007 example is plain wrong. Nothing went trustless after the crisis. But if we did have a trustless "smart contract" mechanism where you wouldn't need to trust these financial insitutions on how they value subrime mortgages maybe the baloon wouldnt inflate as much as it did. On the other hand they got overleveraged aswell. Leverage is cancer that leads to liquidations when things turn south that leads to crisis and so on. You fellow degenerate bizrealis know this from binance where you go x50 long and the next minute your money is gone. This redditard is just mad he missed the train. And has a understanding of crypto basically on a level of a 10year old..

>>57458510
It's a stupid point anyway and the redditor doesn't understand how a libertarian economy (aka free-market) with a state-enforced judicial system will work.
If there's no government-mandated food labelling, what will happen is that some non-small subset of customers will call for nutrional info to be printed on products. The foods with nutritional info will sell better, thus including nutri-info will become "standard" (a fully voluntary standard, mind you) for anyone who wants to sell more. If the companies lie on their labels, they will obviously face legal consequences for fraud.
And if the companies don't include peanuts on their ingredients list, but someone ends up dying from eating it because they had a nut-allergy, the company would face manslaughter charges for lying on their food labels. Thus, to avoid that consequence, companies would VOLUNTARILY disclose if their product MAY contain nuts.

Notice how a free-market sorts itself out? It's because free-markets are evolutionary by nature, via natural selection. Only the most fit for survival companies make it.

>>57457493
Pinnacle of midwit intellect, it's actually amazing how he ticked off just about every single midwit talking point.

Used ChatGPT to regurgitate that text

The author, claiming to work for a cryptocurrency exchange, argues that cryptocurrency is fundamentally antisocial, eroding trust in institutions and society. They view the libertarian values underpinning crypto as a threat to social cohesion, likening it to other deregulated issues like gun ownership. The author criticizes the crypto community's preparedness culture and deep distrust of the state, which they believe could lead to societal harm. They conclude that the transparency of blockchain doesn't compensate for the potential disruption to the social order.

>>57457493
https://birdeye.so/token/9H5bSR9kaUiXJ9HqzmU5gwPuDXvQMPmnmyeZxEStVDSq?chain=solana 1000x gem for diamond hands only — liquidity locked, in accumulation at price discovery. No influencers. No pump and dumps

>>57457493

So, what's that?

A bunch of uneducated and unqualified shitalics and sirgays will never come up with anything better than world class engineering teams at mega corps?

Who would have thought lmao

Also, there is something called mathematics, of which most of shitaliks and sirgays are ignorant.

Also read this fucking slavnigger about trading:
https://schiptsov.github.io/

>>57457493
so this faggot just likes being a bootlicker and thats why he hates crypto ?

>>57462401
Basically yeah, that overpaid retard dislikes crypto for the very quality of why it attracts so many people.
It takes power away from a few psychopaths and puts it in the hands of the average joe

>>57462377
Ty, i knew it was a trash take

>>57457598
Because you are a fucking redditor you faggot. Go back.

>>57458563
Because welfare payments are funded completely through monetary debasement and cant ever stand on their own weight
He is right to scared his entire way of life is ending, but crypto isnt causing it nor contributing to its downfall

The plebbitor us right tho in his final paragraph, burn it all down and laugh

>>57457493
worst LARP I've ever read in my life. I want my 2 minutes back.

>I work in a senior position at a top exchange so here's a bunch of waffling, incoherent philosophical dross that has no connection to working at a top exchange

>>57458008
>because you insulted THEM for daring to disagree
good post zoomer, but you should also lurk moar, maybe this place does have a future left

>>57461527
>If the companies lie on their labels, they will obviously face legal consequences for fraud.
In the redditors pov, this doesn't happen at all, which reinforces his retarded point of view.

>>57457598
I stopped reading when he mentioned about state intervention being le good and privacy bad and evil, average reddit cuckoldry

>>57457493
I mean what he says is not wrong. Me and most of my friends are anti-state and preppers. But the crypto thing is more of a side effect, the people I hang out with are generally more on the whole "preserve the race, the state is trying to genocide us" side of things.

>>57462415
>It takes power away from a few psychopaths and puts it in the hands of the average joe
and what does average joe's do with that newly acquired power? they gamble it on shitcoins, handing away that little power they got to the very same psychopaths or the new ones who don't give a fuck and are ready to create a ton of shitcoins, lying and promoting their scams until they're filthy rich themselves. so again you end up with a handful of filthy rich and a majority of poor.

also average joe has no idea what a good crypto project is. If that weren't the case, BTC and other failed ideas would be quickly replaced with something better. Instead, garbage is still floating around and there's no hope of it going away any time soon. LTC, DOGE, XMR, BSV, BCH... Craig Wright and other psychos heavily invested in crypto are living their best lives.

so yeah, this fucking bullshit doesn't help average joe at all, at least for now. but I really don't see any major shift in this corroded paradigm.

>Crypto is bad because!
>*insert my politcal belliefs which are right vs theirs which are wrong*
anyone posting reddit screencaps should be lynched.

>folks
>words words words words
>says nothing

>>57458008
>At the very minimum, a smart person would hear the rebuttal from a highly paid expert working in one of the most well-funded (and therefore scrutinized) industries in history and think "Well I'm not convinced, but this guy clearly is better informed, and his sources are likely quadruple PhD academic math geniuses that develop this kind of stuff, so maybe I'll just shut the fuck up and assume they know something I don't."

The crypto industry has existed for long enough with enough explosions that people's background matters not. It's the ideas that they present to the table that should be under total scrutiny and the products designed that should be tested rigorously.

>>57457493
Is he talking about these flip floppers?

>>57463799
lmao how did he get that partial epiphany?

>>57463804
probably the left all rooting for palestine

>>57457493
Mankind cannot be trusted to control the money supply. Crypto allows for a society more full of trust because it eliminates some tools of manipulation (inflation, banking, and potentially more).

>>57457625
Monero is what a lot of us wanted Bitcoin to be but not what Bitcoin was really supposed to be.

>>57457493
>>57457518
Summary: It's extremely dangerous to democracy, and it doesn't work if you make analogies to things that are in different classes.

Fucking time wasting fags.

>>57457493
I would think that crypto is doomed if such morons were ackshually working for top exchanges. This larper might be at most some DIE officer in Goldman Sucks or other Blackfarce Rock.

>>57464157

It's not doomed, it's just unclear at the moment as the SEC doesn't seem to have to balls to set standards.

Lots of drug and gambling addicts took note of the defi use case for farming scams.

Every dev that gets on the microphone sounds like a junkie that missed their dose, rambling faster than their lips can move.

>>57463908
Yeah definitely considering its a kike and thats what they only care about

>>57457493
>"They just can't be reasoned with"
>"Trannies are heckin valid, chud"

>>57457493
But I believe in cryptocurrencies. This field is incredibly exciting and full of potential

>>57464529
Why do you think so bro

>>57464532
Because I've been involved with cryptocurrencies for a long time :)) and innovation is advancing rapidly. Fluctuations are normal, but it's worth thinking long-term

>>57464555
maybe I should do more research

>>57464566
Absolutely! Gathering more information is always a good idea, and don't hesitate to ask questions. Learning more about cryptocurrencies can change your perspective. Check this out: https://twitter.com/larryllamatoken @larryllamatoken

>>57459216
>It wasn't fair that PUA guys got pussy

lol

>>57459216
true dat

>>57465407
>looks like three middle fingers

Pottery

>>57457493
Stopped reading at antisocial

>>57459216
To be fair crypto "investing" is just glorified gambling. They should be as angry at people that win the lottery but they're not.

>>57457493
go back to communist land

>>57464529
Hahahaha you must be a comedian, the cryptocurrency space is a joke. Literally all the leaders and innovators of the last cycle were a bunch of scammers who are either in jail or about to be. As usual nobody uses this shit for anything but gambling 14 years on and that's all this will ever be since nothing it promises it can actually deliver.

>>57458394
Bitcoin failed at its original intention. It was supposed to be usable for everyday micropayments. People meme on the guy who bought pizza with 100k bitcoin back in the day, but that is actually how it was intended to be used back then.
Just because it's been successful as a store of value doesn't make it good digital cash. It fucking sucks as digital cash. It's way too slow and expensive to be used for that purpose.

>>57457493
It's not the idea of a state that I hate and want to destroy its just this state in particular mr rebbit man.

>>57463634
>what does the average joe do
He's being free

>>57457493
Of course they don't like when they see that there is another way to play the game when they spent so much time and energy to appease the overlords they don't even know about

>>57458008
Agreed, this is why 4chan should have gatekept bReddit even harder, they've invaded this place since 8ch. You can't even type go back to >>>/r/eddit without being filtered.

>>57457493
retard midwits like this I hate more then niggers. If I was all powerful I'd unironically have all mid wit npc reddit faggots and quarantine them so they can build their own "utopia" and end up just starting a communist state and killing each other. I'd have make a reality tv show on it for normal people to watch and laugh at the retarded soi freaks

They always think centralized exchanges = crypto, and are not just trad-fi institutions that use crypto. Working at an exchange makes you an employee at a trad fi company, and not someone who necessarily knows anything bout crypto. And binance or tether being retarded or something is some sort of argument against crypto, when the entire point of cryto is that you don't have to use retarded, untrustworthy middlemen.

>>57458008
yeah it's called narcissism

>>57457493
Read some part, a commie wrote this
Sagin this reddit shit post

>>57457493
So incredibly bullish

>>57458008
Woow, using a big SWEAR word in your final sentence REALLY DROVE your point home, sweatie. I bet you are a really BIG BOY if you can use swear words like that. I'll make sure to SCREENCAP this post because you used a swear and it was super important.

>>57457493
either I'm wrong or he is a support of gov regulation.
a funny bit from the text (pic related)

>>57457493
buttcoiners coping is always funny