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85% of email is spam[1], but the remaining 15% is really useful and helps run the world. same in everything: probably 85% of songs i don't like, 10% i'll liste

85% of email is spam[1], but the remaining 15% is really useful and helps run the world. same in everything: probably 85% of songs i don't like, 10% i'll listen to, 5% is amazing. 85% of crypto is nonsense, 10% is interesting, 5% transformative. i find it a useful mental model to not be annoyed at everything i encounter. if theres tons of people saying taylor swift is great theres probably one song im gonna like. apply it to crypto too. [1] https://donotpay.com/learn/spam-accounts-for-approximately-percent-of-all-email/ https://donotpay.com/learn/spam-accounts-for-approximately-p...

knorker 4y ago
There's 20'000 cryptocurrencies, and zero actual use cases outside of crimes like tax evasion, money laundering, and buying illegal things. So your percentages are a bit off, and should be more like 0. I wouldn't even classify buying illegal drugs on the internet, which is the most moral of all cryptocurrency use cases, as "transformative".
Communitivity 4y ago
I think those are great examples of the Pareto Principle [1]. It says 80% of the results come from 20% of the causes. Your examples could be generalized to an extension principle: 30% of the consequences come from 15% of the causes, and 50% come from a separate 5% of the causes. [1] https://en.wikipedia.org/wiki/Pareto_principle https://en.wikipedia.org/wiki/Pareto_principle
- ly3xqhl8g9 4y ago
  They are applying Sturgeon's law [1] ("ninety-percent of everything is crud"), not Pareto, common misconception. Pareto would be that 80% of all crypto transactions are done by 20% of all the cryptocurrencies (given 10,953 active cryptos, that would be 2,190), which also doesn't stand since ~99% of all crypto transactions are done by the top 10 cryptos (BTC, ETH, etc.), textbook oligopoly [2]. [1] https://en.wikipedia.org/wiki/Sturgeon%27s_law https://en.wikipedia.org/wiki/Sturgeon%27s_law [2] https://coinmarketcap.com/charts https://coinmarketcap.com/charts https://www.statista.com/statistics/1269302/crypto-market-share https://www.statista.com/statistics/1269302/crypto-market-sh...
chaosite 4y ago
The thing about crypto is that 50% of crypto is outright scams, 30% is nonsense, 15% is interesting academically but completely useless, and 5% is transformative in a very narrow particular set of circumstances that very few people actually have. And I'm being generous.
- foodjinn 4y ago
  You are describing the google app store as well.
  - chaosite 4y ago
    The Google app store has spam and not spam. Crypto only has spam.
ly3xqhl8g9 4y ago
A perfunctory search shows there are over 20,000* cryptocurrencies in 2022. Saying that 3,000 (15%) are interesting|transformative is a bit of a stretch, especially given that over 19,990 of cryptocurrencies are in complete obscurity for the general public: if a coin is interesting|transformative in a forest with no one to hodl it, how interesting/transformative is it really? Sturgeon's law should probably be amended with "90% percent of Sturgeon's law examples are crud". * "As of July 2022, there are 20,268 cryptocurrencies in existence. However, not all cryptocurrencies are active or valuable. Discounting many “dead” cryptos leaves only around 10,953 active cryptocurrencies." [1] — 15% of active cryptocurrencies in 2022 would be ~1,643, the point still stands. [1] https://explodingtopics.com/blog/number-of-cryptocurrencies https://explodingtopics.com/blog/number-of-cryptocurrencies

knorker 4y ago

There's 20'000 cryptocurrencies, and zero actual use cases outside of crimes like tax evasion, money laundering, and buying illegal things. So your percentages are a bit off, and should be more like 0. I wouldn't even classify buying illegal drugs on the internet, which is the most moral of all cryptocurrency use cases, as "transformative".

Communitivity 4y ago

I think those are great examples of the Pareto Principle [1]. It says 80% of the results come from 20% of the causes. Your examples could be generalized to an extension principle: 30% of the consequences come from 15% of the causes, and 50% come from a separate 5% of the causes. [1] https://en.wikipedia.org/wiki/Pareto_principle https://en.wikipedia.org/wiki/Pareto_principle

ly3xqhl8g9 4y ago
They are applying Sturgeon's law [1] ("ninety-percent of everything is crud"), not Pareto, common misconception. Pareto would be that 80% of all crypto transactions are done by 20% of all the cryptocurrencies (given 10,953 active cryptos, that would be 2,190), which also doesn't stand since ~99% of all crypto transactions are done by the top 10 cryptos (BTC, ETH, etc.), textbook oligopoly [2]. [1] https://en.wikipedia.org/wiki/Sturgeon%27s_law https://en.wikipedia.org/wiki/Sturgeon%27s_law [2] https://coinmarketcap.com/charts https://coinmarketcap.com/charts https://www.statista.com/statistics/1269302/crypto-market-share https://www.statista.com/statistics/1269302/crypto-market-sh...

chaosite 4y ago

The thing about crypto is that 50% of crypto is outright scams, 30% is nonsense, 15% is interesting academically but completely useless, and 5% is transformative in a very narrow particular set of circumstances that very few people actually have. And I'm being generous.

foodjinn 4y ago
You are describing the google app store as well.
- chaosite 4y ago
  The Google app store has spam and not spam. Crypto only has spam.

ly3xqhl8g9 4y ago

A perfunctory search shows there are over 20,000* cryptocurrencies in 2022. Saying that 3,000 (15%) are interesting|transformative is a bit of a stretch, especially given that over 19,990 of cryptocurrencies are in complete obscurity for the general public: if a coin is interesting|transformative in a forest with no one to hodl it, how interesting/transformative is it really? Sturgeon's law should probably be amended with "90% percent of Sturgeon's law examples are crud". * "As of July 2022, there are 20,268 cryptocurrencies in existence. However, not all cryptocurrencies are active or valuable. Discounting many “dead” cryptos leaves only around 10,953 active cryptocurrencies." [1] — 15% of active cryptocurrencies in 2022 would be ~1,643, the point still stands. [1] https://explodingtopics.com/blog/number-of-cryptocurrencies https://explodingtopics.com/blog/number-of-cryptocurrencies