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This dude calls Vitalik a scammer. While he might make some good points about A16Z, that viewpoint alone ruins his credibility for me.
by arberx 4y ago
This dude calls Vitalik a scammer. While he might make some good points about A16Z, that viewpoint alone ruins his credibility for me.
- aardvark179 4y agoHis attempts in 2013 to get funding for Bitcoin mining using quantum computers (and claims they could get similar benefits by simulating those computers on classical machines) could at best be described as naive and ill informed, less charitably described as idiotic, and reasonably described as a scam.
- baby 4y agoYou should read his blog
- manxman 4y agoThe problem is that all the proponents of blockchain have conflated technical arguments for decentralisation with lofty political ideas for radical social reengineering and have been working to pump the blockchain assets to give themselves the capital to fight their social agendas. It’s all buried in plain sight. But the credible ideas are running out and the flagrant lack of accountability this time around is kind of no different to Socialism 1.0 or Communism 1.0. I look forward to being cancelled for having such a viewpoint.
- jongjong 4y agoThe movement was corrupted years ago. The goal of founders has been self-enrichment since.
- tromp 4y agoMostly agreed, but not every blockchain allows its creators to enrich themselves.
- cmrdporcupine 4y agoNot sure why the "Socialism 1.0" reference when the books these kids read -- and what inspires the thing they're doing -- is primarily Ayn Rand / Jordan Peterson (or if they're really going upmarket, Milton Friedman etc), not Marx or Trotsky or Prouhdon. It's all about dispensing with social/communal accountability entirely.
- baby 4y agoAnybody in Bitcoin at this point has low credibility. The innovation space has mostly moved to other chains and projects. What is left are non technical people trying to pump the value of the coin.
- unboxingelf 4y agoStrongly disagree. Anybody in any crypto token other than Bitcoin at this point has low credibility. Every other chain and project is sacrificing decentralization for short term gain. They’re at best naive and at worst scammers.
- JumpCrisscross 4y agoBitcoin is dumb, but it’s honest about its dumbness. The dumb bits are largely forward looking. Web3 is dumb but also fraudulent, because it lies about what it is.
- unboxingelf 4y agoBitcoin is boring. It’s a decentralized ledger. It’s effectively the missing protocol for money on IP. Everything else is a security, by definition.
- tromp 4y agoEverything else is an altcoin, by definition. Some of which distribute their coins more fairly than bitcoin, and are thus definitely not securities.
- baby 4y agoYou should check Mina
- unboxingelf 4y agoDo you have a tldr? I see its stated technical goal of maintaining a small blockchain, but what’s it for? It has a token so is it meant to be money? Is it a web3 app chain? The fact that there was an initial presale makes it sound like a private company. Which is a lot different than Bitcoin so I’m not sure the comparison.
- shrimpx 4y agoVitalik and Ethereum Foundation have siphoned hundreds of millions (billions?) out of the (pre-mined) Ethereum blockchain, which is probably an unregistered security if it weren't for high-roller lobbying agains the SEC, and to what end? Largely a platform for ICO/NFT/web3 failing Ponzi schemes. If you know of real-world apps on top of Ethereum, that I could use right now on my phone, and is a real thing outside of "wallet thing", "mostly-broken web3 version of existing thing", "earn 30% interest with defi scam", let me know.
- jongjong 4y agoTrue. They've been suppressing innovation intentionally. I know because I worked in the space and watched them pull the plug on promising projects.
- drdeca 4y agoWhy do you specify "on your phone"? I'm reminded of the "prettiest lady of all those ... in this room ... currently eating a kebab" bit. I don't think the most common use of something being "to make scams or other worthless things" is enough to make that thing "a scam". I don't know what you mean by "siphoned out of". If you just mean "they sold the tokens", then... that seems like a deliberately misleading way of phrasing it?
- shrimpx 4y ago> on my phone To emphasize a generally useful thing. The vast majority of people I know use their phones, not desktops. But ok, my desktop is fine too. > siphoned When you become ultra-wealthy from tokens/stock from a product or platform that brings no or very little value to the world, I would call that siphoning to emphasize the hugely lopsided ratio of "wealth I got" / "value the world got". You got rich on hype, not value. You siphoned wealth before there was value, without even knowing if there will ever be value (or knowing there won't be). > I don't think the most common use of something being "to make scams or other worthless things" is enough to make that thing "a scam". This is a doozie for me. If you make "tools for scammers" somehow that brings value to the world?
- jabthedang 4y ago[dead]
- rufusroflpunch 4y agoThey have managed to concoct a system where people have locked billions in staking while keeping only a tiny fraction of their own Eth staked. Vitalik’s addresses have sold tens of millions while all these users have staked with no way out until the overlords decide to implement it. These are not the actions of a true believer.
- deleted 4y ago[deleted]
- manxman 4y agoI’m glad to see someone dare to call out all of the BS. People are credibly allowed to question your idols even if you don’t like it or disagree. ;)
- yayr 4y agowell, the ETH project has many sides, one is technology, another is coin distribution (especially with a proof of stake model). That does not imply a scam, but also is a problem for long-term stability see e.g. here https://cointelegraph.com/news/64-of-staked-eth-controlled-by-five-entities-nansen https://cointelegraph.com/news/64-of-staked-eth-controlled-b.... or https://www.bitcoin.com/get-started/how-was-eth-initially-distributed/ https://www.bitcoin.com/get-started/how-was-eth-initially-di...
- unboxingelf 4y agoETH had an unfair issuance and is (by design!) centralized with a CEO. It couldnt be further from Bitcoin at this point.
- ddorian43 4y agoPowell has the wheel now. I'm afraid crypto might be 100% ponzi, compared to people saying it's 99% (1% being BTC,ETH,etc).