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> 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. > siph
by 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?
- drdeca 4y agoJust because something is overall not good, that doesn't make it a scam. The person doing it has to have some amount of intent to deceive in order for them to be perpetrating a scam, I think. I'm convinced that Vitalik's intentions are good, even if the net results might not be.
- shrimpx 4y agoI definitely don't think Vitalik is a scammer, but I find it not-so-ethical to take large amounts of money off the table before you've created value. Vitalik's wealth comes from hype, not from value in the world. He's not centrally responsible for generating the hype, and he's even spoken against it, but then he takes a ton of hype money off the table...