• 0 Posts
  • 17 Comments
Joined 1 year ago
cake
Cake day: June 22nd, 2023

help-circle
  • I never said a majority of stocks are financial. I’m crypto they are tho but that’s kinda obvious given that we are bootstrapping a new financial system.

    The internet changed a ton of things!!! Individual investors have so many tools to research now compared to 30 years ago! It’s much easier to get due diligence on investments and confer with others.

    Accounting figures are obviously FAR superior with crypto native companies since everything is verifiable.

    cryptocurrencies haven’t changed the process for gaining the investment necessary to start a new bakery or other small business and never will provide a pathway to do so

    I adamantly disagree with that last part. This is precisely where crypto shines when done right it allows everyone an equal footing on raising and investing in capital projects. Note I’m not saying that it removes risk - it removes friction - admittedly at the cost of risk.

    The reason you don’t see this taking off is 100% because of regulations, hoops, lawyers, and capital required to register a security. If I want to tokenize a business plan in the USA, I cannot easily do that without getting wrecked by the SEC.

    The elitists can and will continue to do private equity and insider trading to maintain a lead because they have the capital to do so. I can’t speak to how they all feel about crypto. I would assume they would love it too. Free markets are far cheaper than the crap they go through now to do fund raising and such.

    It’ll be interesting to see how this goes in the coming 30 years. It definitely benefits countries without a strong financial system already in place way more. Will it outperform the legacy, cumbersome financial system? Time will tell!


  • I spent 25 years in tradfi as mentioned previously. I’m not delusional or a grifter/scammer.

    You realize that some of the things listed on crypto markets actually represent more than just an entry in a distributed ledger, right? I live in Solana (a distributed ledger) world and there’s dozens of tokens which represent true products. Sure most are financial related themselves - but that’s no different than tradfi where banks and exchanges are themselves listed on the exchanges. Others are depin models and governance things for example. It’s a real industry which gets a bad rap since it does enable bad people to do bad things too, and that gets most the press.

    First off, our securities regulation is ancient and much is based on a pre internet global world. There’s many changes that can be made to give consumers access to private equity and capital efficiency which currently the rich have guarded for themselves.

    Secondly, there are far bigger and badder scams under the current regulation. Enron, worldcom, madoff, tyco, healthsouth, centennial, bre-x etc.

    Bad people do bad things under either model, but the free, permissionless model sure opens the door to allow little guys to have a chance.

    Raising capital for a small venture in a free global market is a tough nut to crack. And yeah thar be dragons there. But it’s such a freeing concept once you see it in action. I believe in freedom of money, and the global revolution it can bring.


  • This is simply not true. I’ve been a fulltime software dev in the crypto space for 3 years. Moved to crypto after 25 years in the financial sector. My work in the crypto space is a near parallel to the legacy financial sector wrt products and services I’m delivering.

    Sure crypto has a scammer and hype and meme angle but I operate in none of those.

    Think of NASDAQ without all the rules. Where anyone can list and trade anything, even complex financial derivatives. It’s so freeing for the little guy. It levels the playing field of the financial system and access to capital quite a bit.



  • That is also exactly how I see it. Do you think the negative view is due to some primal jealousy? I don’t know how else to describe not liking something/someone because it’s better than you.

    Perhaps it is from a viewpoint of sports, where performance enhancing drugs are frowned upon.

    We don’t get mad at calculators anymore, but we did at one point. There was quite a large movement to ban them in schools. Isn’t this a similar thing on the “creative” side?





  • Yeah, this is pretty much what I thought. So I don’t understand why people are pretending that eight or 16 is going to cut it.

    Maybe they are just happy purposefully limiting usage due to a constraint that they don’t realize is easy to raise.

    I like to have 3 4k monitors and four desktops and 10 chrome tabs opened on each one along with SQL stuff and a half dozen vscode windows, and a full visual studio or 2, wsl2 running with a dozen docker containers, plus all of the collaboration programs like Telegram and Discord. And I don’t like to close any of that down when I go play flight simulator. So the extra couple hundos is nothing so that I can be sure to never run out of ram.





  • I’m open to having this discussion but every single response from you begins with you telling me that I’m not interested in having this discussion. If you could just leave that part out so we can have the discussion, it would be much easier. I believe that’s referred to as ad hominem. If you don’t think it is - ok, it’s not. But please stop allowing that to distract from a discussion if you could.

    These “near monopolistic public spaces” such as Twitter and YouTube have costs associated with them. How do you feel that we as users/consumers/citizens of the public space support it’s existence?