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I used to think the good parts of crypto could be salvaged. I now don't. The people joining at this point are either naive or corrupt. I don't think people like

I used to think the good parts of crypto could be salvaged. I now don't. The people joining at this point are either naive or corrupt. I don't think people like Vitalik would join today because the entire scene has changed. There are no limit to the number of these coins. If the Bitcoin maximalists had won out, maybe there would be a different future where the world could standardize on a single protocol, but they didn't win out. So whether it's new coins, new NFTs, new this or that. It doesn't matter. It's a pump and dump. And once the marks get wise to one type of pump and dump, you change it around a bit and pump and dump something else. Real problems are not being solved by crypto.

shafyy 5y ago
I'm curious if people like Vitalik feel trapped, or worse yet, that they have created a monster? If they don't feel bad, I wonder how they justify the cognitive dissonance. The right thing for Vitalik would be to recognize that this is not going to turn into what he imagined it to be, and to publicly speak out against it. Instead, he's trying to justify everything and secretly hopes that he somehow can still turn it around. "Now I am become Death, the destroyer of worlds."
- pjc50 5y ago
  I wonder how far the billion dollars goes towards making him feel better. People have justified far worse for far less. https://www.forbes.com/sites/ninabambysheva/2021/11/03/ethereum-co-founder-vitalik-buterins-net-worth-hits-146-billion-as-ether-is-trading-at-all-time-high/?sh=355b1bc22250 https://www.forbes.com/sites/ninabambysheva/2021/11/03/ether...
  - shafyy 5y ago
    Yes, for sure. I guess, in the end it, money wins?
    - piva00 5y ago
      I like to see it more as "in the end, money corrupts".
- rapnie 5y ago
  > I'm curious if people like Vitalik feel trapped, or worse yet, that they have created a monster? > If they don't feel bad, I wonder how they justify the cognitive dissonance. "Ethereum Co-Founder Vitalik Buterin’s Net Worth Hits $1.46 Billion As Ether Reaches New All-Time High" [0] Trapped, not likely. Monster, maybe. Dissonance management not hard. I think. [0] https://www.forbes.com/sites/ninabambysheva/2021/11/03/ethereum-co-founder-vitalik-buterins-net-worth-hits-146-billion-as-ether-is-trading-at-all-time-high/ https://www.forbes.com/sites/ninabambysheva/2021/11/03/ether...
- 3pt14159 5y ago
  Well, I think it's a combination of things. First, you kinda have to be an optimist to create something like Etherium in the first place. I met the founders out in Toronto before the coin was even off the ground and while there were some sketchy drug dealers at their meetups, the crowd seemed mostly kind-techno-optimist. So the creator of the coin is more likely to see continued upsides once the coin is off the ground and a bit of cognitive dissonance comes in and he donates some of the gains to good causes here and there and gets praised by people like pg so it creates a kinda shield against what would have been obvious to him if he were introduced to the scene as it exists now. Tech initiatives are almost never led by someone that's simultaneously honest and a clear eye'd realist.
- hotpotamus 5y ago
  Has anyone ever created an MDMA IV drip? If I was a billionaire and was sad about how I came by my billion(s), I suppose that would be worth a shot. After the trips to space and a couple private island purchases obviously.

shafyy 5y ago

I'm curious if people like Vitalik feel trapped, or worse yet, that they have created a monster? If they don't feel bad, I wonder how they justify the cognitive dissonance. The right thing for Vitalik would be to recognize that this is not going to turn into what he imagined it to be, and to publicly speak out against it. Instead, he's trying to justify everything and secretly hopes that he somehow can still turn it around. "Now I am become Death, the destroyer of worlds."

pjc50 5y ago
I wonder how far the billion dollars goes towards making him feel better. People have justified far worse for far less. https://www.forbes.com/sites/ninabambysheva/2021/11/03/ethereum-co-founder-vitalik-buterins-net-worth-hits-146-billion-as-ether-is-trading-at-all-time-high/?sh=355b1bc22250 https://www.forbes.com/sites/ninabambysheva/2021/11/03/ether...
- shafyy 5y ago
  Yes, for sure. I guess, in the end it, money wins?
  - piva00 5y ago
    I like to see it more as "in the end, money corrupts".
rapnie 5y ago
> I'm curious if people like Vitalik feel trapped, or worse yet, that they have created a monster? > If they don't feel bad, I wonder how they justify the cognitive dissonance. "Ethereum Co-Founder Vitalik Buterin’s Net Worth Hits $1.46 Billion As Ether Reaches New All-Time High" [0] Trapped, not likely. Monster, maybe. Dissonance management not hard. I think. [0] https://www.forbes.com/sites/ninabambysheva/2021/11/03/ethereum-co-founder-vitalik-buterins-net-worth-hits-146-billion-as-ether-is-trading-at-all-time-high/ https://www.forbes.com/sites/ninabambysheva/2021/11/03/ether...
3pt14159 5y ago
Well, I think it's a combination of things. First, you kinda have to be an optimist to create something like Etherium in the first place. I met the founders out in Toronto before the coin was even off the ground and while there were some sketchy drug dealers at their meetups, the crowd seemed mostly kind-techno-optimist. So the creator of the coin is more likely to see continued upsides once the coin is off the ground and a bit of cognitive dissonance comes in and he donates some of the gains to good causes here and there and gets praised by people like pg so it creates a kinda shield against what would have been obvious to him if he were introduced to the scene as it exists now. Tech initiatives are almost never led by someone that's simultaneously honest and a clear eye'd realist.
hotpotamus 5y ago
Has anyone ever created an MDMA IV drip? If I was a billionaire and was sad about how I came by my billion(s), I suppose that would be worth a shot. After the trips to space and a couple private island purchases obviously.