3 ms·

There’s a lot of innovation in crypto. There is also an unhealthy obsession with “one simple trick” schemes. Programmers often misunderstand law (it is not a d

There’s a lot of innovation in crypto. There is also an unhealthy obsession with “one simple trick” schemes. Programmers often misunderstand law (it is not a deterministic algorithm). Crypto types often misunderstand not just law but the entire financial system (it is not a deterministic algorithm).

treyd 2y ago
It's difficult to get someone to understand something when their paycheck depends on them not understanding it.
- pfdietz 2y ago
  [flagged]
- tivert 2y ago
  > It's difficult to get someone to understand something when their paycheck depends on them not understanding it. It's not just that. It's also plain stupidity and the delusion to think you can live in a fantasy land of your own creation, and the whole world has to play along with you. IIRC, the people running one of these DAO organizations didn't understand the difference between owning a copy and owning the copyright to the work, and massively overpaid for a copy before they figured it out (https://www.esquire.com/entertainment/books/a38815538/dune-crypto-nft-sale-mistake-explained/ https://www.esquire.com/entertainment/books/a38815538/dune-c...).
  - drewcoo 2y ago
    Thoroughly agree. I've had many conversations with self-described "smart" "autodidacts" who claimed to understand entire fields better after essentially zero study than people who worked in those fields for a lifetime. They couldn't understand that other smart people studied (often in universities) and devoted years of practical work in those areas and who communicate with one another and might possibly understand what they were doing better than an isolated neophyte.
    - tivert 2y ago
      That's also a symptom "engineer's disease," where some engineer confuses their expertise in one area (e.g. programming) for expertise in all areas, and proceeds to swagger around like an idiot who thinks his every dumb idea is gold because he knows better than everyone else. Usually the dumb idea is just to assume everything is really, truly like the one thing he knows, and all those stupid experts in the other area somehow just missed that. DAO organizations are a perfect example of that, because their proponents really want code and law to be the same thing (code), without really understanding what the law does and how it is different.
duxup 2y ago
I want to throw something else out there with regards to Crypto. There seems to be a lot of "Bitcoin ideology" (my own very poor term) that feels disconnected from the end result. The folks I know into crypto seem to carry a lot of that ideology with them, very loose ideas about freedom, fear of government taking things from them, and a sense of empowerment. Yet the ecosystem they dive into seems to be full of scams and an incredible amount of complexity for them to safely navigate.
- coldpie 2y ago
  > very loose ideas about freedom, fear of government taking things from them, and a sense of empowerment They're somewhere between being victims of a con, and gambling addiction. Both of those are really tough attributes to confront & overcome.
bluGill 2y ago
While there is a lot of innovation, this case is about things that fundamentally were innovations in the 1600s. They did a few tweaks, but they are variations on what people were doing in the "tulip bubble" - they just used computers and some math that wasn't possible then. This math of course is a real innovation, but what it was used for is not.
deleted 2y ago
[deleted]

treyd 2y ago

It's difficult to get someone to understand something when their paycheck depends on them not understanding it.

pfdietz 2y ago
[flagged]
tivert 2y ago
> It's difficult to get someone to understand something when their paycheck depends on them not understanding it. It's not just that. It's also plain stupidity and the delusion to think you can live in a fantasy land of your own creation, and the whole world has to play along with you. IIRC, the people running one of these DAO organizations didn't understand the difference between owning a copy and owning the copyright to the work, and massively overpaid for a copy before they figured it out (https://www.esquire.com/entertainment/books/a38815538/dune-crypto-nft-sale-mistake-explained/ https://www.esquire.com/entertainment/books/a38815538/dune-c...).
- drewcoo 2y ago
  Thoroughly agree. I've had many conversations with self-described "smart" "autodidacts" who claimed to understand entire fields better after essentially zero study than people who worked in those fields for a lifetime. They couldn't understand that other smart people studied (often in universities) and devoted years of practical work in those areas and who communicate with one another and might possibly understand what they were doing better than an isolated neophyte.
  - tivert 2y ago
    That's also a symptom "engineer's disease," where some engineer confuses their expertise in one area (e.g. programming) for expertise in all areas, and proceeds to swagger around like an idiot who thinks his every dumb idea is gold because he knows better than everyone else. Usually the dumb idea is just to assume everything is really, truly like the one thing he knows, and all those stupid experts in the other area somehow just missed that. DAO organizations are a perfect example of that, because their proponents really want code and law to be the same thing (code), without really understanding what the law does and how it is different.

duxup 2y ago

I want to throw something else out there with regards to Crypto. There seems to be a lot of "Bitcoin ideology" (my own very poor term) that feels disconnected from the end result. The folks I know into crypto seem to carry a lot of that ideology with them, very loose ideas about freedom, fear of government taking things from them, and a sense of empowerment. Yet the ecosystem they dive into seems to be full of scams and an incredible amount of complexity for them to safely navigate.

coldpie 2y ago
> very loose ideas about freedom, fear of government taking things from them, and a sense of empowerment They're somewhere between being victims of a con, and gambling addiction. Both of those are really tough attributes to confront & overcome.

bluGill 2y ago

While there is a lot of innovation, this case is about things that fundamentally were innovations in the 1600s. They did a few tweaks, but they are variations on what people were doing in the "tulip bubble" - they just used computers and some math that wasn't possible then. This math of course is a real innovation, but what it was used for is not.

deleted 2y ago

[deleted]