4 ms·

Everything I know about Sam Altman points to that he's different than the people you might associate him with. He really seems to be committed to making tech (a

Everything I know about Sam Altman points to that he's different than the people you might associate him with. He really seems to be committed to making tech (and money) fair and equitable for everyone, and he's put out a lot of random projects with this intention. While not every idea is going to work, you should look into his writing and initiatives if you're curious. He doesn't have all the answers, but he is doing a lot of good stuff.

AlexandrB 5y ago
What do you think about the argument (presented in this 2hr video[1] and elsewhere) that cryptocurrency, by its nature, is contrary to ideas like equality? For example, the deflationary nature of many cryptocurrencies means that early adopters get a huge leg up. But not all late adopters are late by choice, for example someone not yet born can't choose to invest in Bitcoin early and ride it "to the moon". [1] https://www.youtube.com/watch?v=YQ_xWvX1n9g https://www.youtube.com/watch?v=YQ_xWvX1n9g
- jstx1 5y ago
  If it was about equality, there would be nothing to miss out on.
- pcthrowaway 5y ago
  Capitalism by nature depends on (and incubates) inequality. Everything becomes about acquisition and hoarding of finite resources. Cryptocurrency, for good or bad, at least seems to democratize access to cryptocurrency systems and services (for some narrowly defined definition of what constitutes access). Anyone with cryptocurrency, unrestricted internet access, and a computing device can transact on the blockchain. That applies whether they have been erroneously flagged for ToS violation by google, or whether they're a corrupt nation-state that is being sanctioned by other countries. Anyone with the capital can purchase shares in a DAO without needing to be deemed a qualified investor (in theory, if such a DAO was actually decentralized). Or buy and sell crypto more than 5 times a day without meeting requirements to participate in pattern day trading. There are plenty of inherent problems also, but I think Olsen spends much of his video attacking strawmen. Crypto isn't going to solve inequality; the blockchain just provides a neutral place for parties to engage in various kinds of transactions/agreements.
  - chowells 5y ago
    What's neutral about early dopters having paid far less for their cryptocurrency? That seems highly biased.
    - pcthrowaway 5y ago
      Not just biased, it's unfair (like everything else) The blockchain itself is neutral; anyone who can pay the network cost (which safeguards against spam and rewards/incentivizes validators securing the network and executing the transaction) can transact on it Olsen (and a lot of other people) conflate the two. Absolutely, crypto prices mooning contributes to a widening divide between haves and have-nots (or early adopters and later arrivers). This is an issue with everything else too. People buying land in an up-and-coming city have an unfair advantage over people trying to rent a closet in a densely packed metropolis. People being born today inherit a planet that has been stripped clean of resources and polluted for centuries. Late-stage capitalism's end game is to consume everything and everyone. Crypto doesn't fix that, despite some people claiming it as a goal. In some ways, crypto can make this easier (improved market efficiency). In other ways harder (transparency, democratization of access)

AlexandrB 5y ago

What do you think about the argument (presented in this 2hr video[1] and elsewhere) that cryptocurrency, by its nature, is contrary to ideas like equality? For example, the deflationary nature of many cryptocurrencies means that early adopters get a huge leg up. But not all late adopters are late by choice, for example someone not yet born can't choose to invest in Bitcoin early and ride it "to the moon". [1] https://www.youtube.com/watch?v=YQ_xWvX1n9g https://www.youtube.com/watch?v=YQ_xWvX1n9g

jstx1 5y ago
If it was about equality, there would be nothing to miss out on.
pcthrowaway 5y ago
Capitalism by nature depends on (and incubates) inequality. Everything becomes about acquisition and hoarding of finite resources. Cryptocurrency, for good or bad, at least seems to democratize access to cryptocurrency systems and services (for some narrowly defined definition of what constitutes access). Anyone with cryptocurrency, unrestricted internet access, and a computing device can transact on the blockchain. That applies whether they have been erroneously flagged for ToS violation by google, or whether they're a corrupt nation-state that is being sanctioned by other countries. Anyone with the capital can purchase shares in a DAO without needing to be deemed a qualified investor (in theory, if such a DAO was actually decentralized). Or buy and sell crypto more than 5 times a day without meeting requirements to participate in pattern day trading. There are plenty of inherent problems also, but I think Olsen spends much of his video attacking strawmen. Crypto isn't going to solve inequality; the blockchain just provides a neutral place for parties to engage in various kinds of transactions/agreements.
- chowells 5y ago
  What's neutral about early dopters having paid far less for their cryptocurrency? That seems highly biased.
  - pcthrowaway 5y ago
    Not just biased, it's unfair (like everything else) The blockchain itself is neutral; anyone who can pay the network cost (which safeguards against spam and rewards/incentivizes validators securing the network and executing the transaction) can transact on it Olsen (and a lot of other people) conflate the two. Absolutely, crypto prices mooning contributes to a widening divide between haves and have-nots (or early adopters and later arrivers). This is an issue with everything else too. People buying land in an up-and-coming city have an unfair advantage over people trying to rent a closet in a densely packed metropolis. People being born today inherit a planet that has been stripped clean of resources and polluted for centuries. Late-stage capitalism's end game is to consume everything and everyone. Crypto doesn't fix that, despite some people claiming it as a goal. In some ways, crypto can make this easier (improved market efficiency). In other ways harder (transparency, democratization of access)