bit¢oin$

would much rather use the rich to keep my hearth burning through the winters i will be living through in a mud-straw shelter in 2042 tbh

let us use every single part of the rich, leaving none to waste

Everything but the squeal.

Heading below 20k now?

to the ground *rocket pointing down emoji*

https://i.gifer.com/AFaF.gif

holy shit this is a bloodbath

https://c.tenor.com/7TV_Je4m9hQAAAAd/houseofcards-pyramid.gif

I wish this was just the end. I think it's probably the end of a lot of the other coin schemes for a while. I think it may take more time for bitcoin to completely collapse - too many true believers out there, and it will take prolonged decline to shake them out.

Rumor has it that this is a great time to get in, buy low

youll never be able to buy below

currentPrice

tbf i have no idea when this will all fall down what were seeing now seems like the collapse of various defi schemes that were propping up the prices of the various coins, on a more fundamental level it was like all bubbles just a lot of cheap money sloshing around

What wave of crypto is the next? Is the next one 3? Can it be called crypto3.1

jack dorcey and block just announced a decentralized web called web5

Jeeesus

18% of Coinbase's employees are being laid off today and they'll find out when they wake up and can't access their work email. https://t.co/k41Q9fopQ2 pic.twitter.com/4JGjFF8lVc

— Jacob Silverman (@SilvermanJacob) June 14, 2022

hello good morning sweetie i guess youre wondering why im emailing your personal account ha well funny story

In late May, Coinbase also sent emails to a number of hires telling them that the hiring freeze would not affect them, explaining that “this does not impact the offers of any employees who have already signed.”

They then rescinded the offers.https://t.co/KGiRP3x9St

— maxwell (@maxwellstrachan) June 14, 2022

The ceo posted 16 red flags in a row last week, very impressive guy

1/ This is really dumb on multiple levelshttps://t.co/k6fATRXvHn

— Brian Armstrong - barmstrong.eth (@brian_armstrong) June 10, 2022

lol

4/ Third, making suggestions on how to improve the company is a great idea (in fact, we expect everyone to be a part of that). But our culture is to praise in public, and criticize in private.

— Brian Armstrong - barmstrong.eth (@brian_armstrong) June 10, 2022

#5 is even better, imo. he's like "only i can post dumb things on twitter. if you do it, you get fired. "you" meaning my very happy employees reading me on twitter instead of working (for which you are also fired, potentially)"

the world culture has really be degraded by corporate bs

truth bomb

i shouldn't post itt but thank you to those who are, i'm enjoying this schadenfreude

i was watching baseball men play yesterday, about 100 degrees in st louis. one of the broadcasters mentioned that it was hot. the other broadcaster immediately said that they get paid to play, no matter what. he then launched into a story about a pitcher who died of a heart attack when he was 33, when he was still playing. this pitcher was known for his work ethic. "take the ball every 5th day, no matter what. doesn't matter if you're sick, you're injured, no. you take the mound and you pitch, that's what you're paid for." the first broadcaster, who had pointed out that it was hot, completely agreed, mentioned that there was a double-header tomorrow (which is today now), and reiterated that they're not paid to complain

i don't know exactly how, but there is some kind of connection between people who suck at baseball watching baseball in comfortable AC while criticizing anyone who would be visibly uncomfortable in 100 degrees, and...crypto

our culture is to praise in public, and criticize in private

like this is a formal principal he made up, if people really did it then it could maybe be culture, of course hes not doing it and the people hes complaining about arent doing it ergo its not the company culture

he has some very thought-provoking views about how workers and people in countries in hard times tend to react negatively, rather than pulling together as a team

i think we need to poke at that a little more, pull back some layers. really something to it. because if he's right about that...then think about how much things could change if we just pull together as a team?

i don't know exactly how, but there is some kind of connection between people who suck at baseball watching baseball in comfortable AC while criticizing anyone who would be visibly uncomfortable in 100 degrees, and...crypto

― Bruce Stingbean (Karl Malone), Tuesday, June 14, 2022 4:31 PM (seven minutes ago) bookmarkflaglink

sociopathy, the masculine flavor

maybe instead of lobbing internet bombs at each other, maybe we could just drive into work, reconnect with our teammates, keep the complaints internal, push the praise eternal, and make a lil' bit of pocket change on the side, as it were, as we deserve

i predict that the btc meltdown, or not-meltdown, will contribute to making inequality even worse either way. take that to the bank! haha

… the blood bank.

that seed was planted when people who couldn't afford to lose the money invested in crypto in the first place. It's not the meltdown that will worsen inequality, it's the entire phenomenon of crypto. The sooner it dies, the fewer people it will harm.

this whole thing is extremely funny, to me, but i do think this has the ring of truth

https://inthesetimes.com/article/the-ticking-bomb-of-crypto-fascism

it's the entire phenomenon of crypto

maybe even something bigger than crypto just spit balling here

The most Sigma move I've ever seen was SBF describing yield farming as a textbook Ponzi on a podcast, then saying that he's still bullish because he sees a bunch of institutional money about to come in.

— Luke Metro (in SF 6/17-20) (@luke_metro) June 12, 2022

https://t.co/zW49Z7N22Z

— Luke Metro (in SF 6/17-20) (@luke_metro) June 12, 2022

Matt: (27:13)
I think of myself as like a fairly cynical person. And that was so much more cynical than how I would've described farming. You're just like, well, I'm in the Ponzi business and it's pretty good.

Joe Weisenthal: (27:27)
At no point did any of this require any sort of like economic case, it’s just like other people put money in the box. And so I'm going to too, and then it's more valuable. So they're gonna put more money in, and at no point in the cycle, did it seem to like, describe any sort of like economic purpose?

SBF: (27:42)
So on the one hand, I think that’s a pretty reasonable response, but let me play around with this a little bit. Because that's one framing of this. And I think there's like a sort of depressing amount of validity…

Matt: (27:53)
Can you comment on like the sustainability of that? Because, you know, on the one hand you're like, well, a trillion dollars of institutional money is going to come into Bitcoin. And on the other hand you're like basically there are a lot of Ponzis that have done really well.

Presumably that's from Odd Lots?

the link has the words "odd lots" on the page so yes i think it is

the sad irony of crypto is that people who felt like the mainstream financial system is designed to fleece them, which it largely is, were driven to crypto which is a system that is completely designed to fleece them

gonna stop myself before i get too trenchant in this tech-prioritizing thread but a market is just a state-backed ponzi scheme so. afaict this whole thing is just a power struggle between tech worshippers who feel like they deserve power and trad elites who have been in a process of doubling down on the "trad" part for a while now.

as far as "crypto will lead to fascism" goes that's another one of approx. 54,000,000 blame shift takes imo.

theres nothing "just" about being state backed

should also be noted that say the stock market refers to companies that do actual things, obvs theres a lot of uh froth in there, but selling oatmeal that people then eat is real, oatmeal is not a ponzi scheme

the sad irony of crypto is that people who felt like the mainstream financial system is designed to fleece them, which it largely is, were driven to crypto which is a system that is completely designed to fleece them

that's true to an extent. some people, very gullible, suckers, etc.

i also think about a friend of mine, though, who has always been a libertarian, even before he had heard of it. a couple weeks ago he called me a "people policer". anyway, of course he's really into crypto. but his current life/job idea is to a) auto-generate music and b) sell this auto-generated music to people for their Unity games. i asked him if he made the auto-generator or if he's using someone else's. someone else's, of course. then i asked him why someone would buy auto-generated music if they could auto-generate it themselves. we ended by agreeing that there was a short window of time in which this plan might be plausible, and he redoubled his efforts to make some money on it while it's still possible.

keep in mind, all of this is putting aside how awful auto-generated music is and what an insult it is to use it in your game, especially when there are millions of people who "human generate" music whose main life accomplishment would be achieved if someone, ANYONE out there would just use their shitty, human music in a real, shitty, game, even with zero compensation.

that's ALSO a lot of the crypto audience. it's the hunt for energy created by perpetual motion, alchemy shit

games with generative landscapes, generative resources, generative creatures, generative skies, practically limitless, are on the same wavelength as crypto, i think. it's suspended disbelief and faith that generative worlds really will lead to "infinite growth", while completely ignoring how hollow the "content" is

eh, it's not a terrible plan https://www.bloomberg.com/news/articles/2022-06-01/how-to-make-money-on-spotify-a-white-noise-podcast-could-bring-you-big-bucks

yeah i mean its just greed im not trying to defend the people who were tweeting have fun staying poor a month ago or whatever, but also fundamentally they represent a societal class of losers constantly being manipulated by winners right down to the sad greedy ideologies theyre fed through instagram hustle memes or whatever

idk why anyone would use machine generated music when you could just put on some lofi beats to study/chill

xp lol caek

yeah, for real though! i'm not exactly the most effective person to criticize the employment activities of other people, but it's amazing how many people just sit around thinking "how can i scam people and make money for something that contributes absolutely nothing at all to the world?"

tbf most regular jobs contribute nothing to the world so i can understand it, tho the scamming people part is not forgivable, scamming big corps on the other hand

should also be noted that say the stock market refers to companies that do actual things, obvs theres a lot of uh froth in there, but selling oatmeal that people then eat is real, oatmeal is not a ponzi scheme

― lag∞n, Tuesday, June 14, 2022 11:08 AM (thirteen minutes ago) bookmarkflaglink

Yeah, people sometimes call the stock market a "ponzi scheme" because some part of the value is dependent on more money flowing in than flows out, but it's at least potentially tied to something that can actually produce and grow in a meaningful way. Most of the market is, in fact, companies that produce things and have earnings, and even though the market has tended to eschew dividends in favor of price appreciation, at bottom the value of a stock should still bear some relationship to the future cash flows it represents.