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In a casino you have - The gamblers spending a lot on the casino - The people coming in for the fun and spending little money - The owners/C-levels - The operat

In a casino you have - The gamblers spending a lot on the casino - The people coming in for the fun and spending little money - The owners/C-levels - The operational team Someone from the operational team just learned that business relies only on the first group to be successful.

brohee 10mo ago
You forgot the money launderers, in both ecosystems. Casinos are the original tumbler.
- ethbr1 10mo ago
  'I'm shocked to find that gambling is going on in here.' https://m.imdb.com/title/tt0034583/quotes/?item=qt0429972 https://m.imdb.com/title/tt0034583/quotes/?item=qt0429972
  - JKCalhoun 10mo ago
    "I'm shocked! Shocked…" (The double "shocked" is what makes the quote next-level.)
    - ethbr1 10mo ago
      Doesn't quite translate in text. Figured those who could hear it in their head wouldn't need the extra prompting.
- mothballed 10mo ago
  That falls under pragmatists
brianolson 10mo ago
I worked in blockchain ("builder") for 5 years. I started 'eh, there are speculators, whatever, I build good tech' but finished 'holy crap speculators completely dominate and distort everything, nobody cares about good tech'
- dukeyukey 10mo ago
  Yep. As much as I can see utility in some crypto, and there are some personalities in respect (e.g. Vitalik) by and large the sector in such a dumpster fire I'm not going anywhere near it. I've got some bitcoin in a Coinbase account, that's as close as I'm getting.
- FabHK 10mo ago
  > nobody cares about good tech Indeed. For example: Chia is arguably decent tech (better than Bitcoin), built by Bram Cohen (of BitTorrent fame), innovative PoSpace+Time. But nobody cares, it's at #450 in market cap, way down below Doge (#10), $TRUMP (#72), Fartcoin (#144), Melania (#375).
  - underlipton 10mo ago
    The market cap obsession is part of the problem. Can I use it to buy things, easily? That's the only metric that should count if you're looking for practical use, not speculation.
    - NoMoreNicksLeft 10mo ago
      A successful cryptocurrent probably has to start by first having a market that is dissatisfied with the available traditional currencies. If that market were to introduce on (with good tech), then it could immediately see the cryptocurrency used for its intended purpose. At that point, if it avoided the attention of speculators (not forever, just long enough for it to get its feet underneath itself) or could discourage those speculators somehow, what happens then? Is there some other failure mode waiting, or does it take off?
    - wat10000 10mo ago
      It's hard to measure that directly. Market cap is a decent proxy, albeit inexact. If a coin has a market cap of $1.8 trillion, you know a lot of people are doing a lot of something with it, and it's likely that includes using it to buy and sell stuff to some extent. If it has a market cap of $200 million, then there just can't be many people buying and selling with it, and that means it's pretty likely to be difficult to use that way.
Aardwolf 10mo ago
> Someone from the operational team just learned that business relies only on the first group to be successful. Is there any possibility the presence of the people who are there just for fun still encourages/increases the size of the first group?
- watwut 10mo ago
  Imo, yes. There are where gamblers come from. They are also providing plausible deniality to gamblers.
soerxpso 10mo ago
You also have this quadchotomy in a department store, or in a number of other valuable businesses.

brohee 10mo ago

You forgot the money launderers, in both ecosystems. Casinos are the original tumbler.

ethbr1 10mo ago
'I'm shocked to find that gambling is going on in here.' https://m.imdb.com/title/tt0034583/quotes/?item=qt0429972 https://m.imdb.com/title/tt0034583/quotes/?item=qt0429972
- JKCalhoun 10mo ago
  "I'm shocked! Shocked…" (The double "shocked" is what makes the quote next-level.)
  - ethbr1 10mo ago
    Doesn't quite translate in text. Figured those who could hear it in their head wouldn't need the extra prompting.
mothballed 10mo ago
That falls under pragmatists

brianolson 10mo ago

I worked in blockchain ("builder") for 5 years. I started 'eh, there are speculators, whatever, I build good tech' but finished 'holy crap speculators completely dominate and distort everything, nobody cares about good tech'

dukeyukey 10mo ago
Yep. As much as I can see utility in some crypto, and there are some personalities in respect (e.g. Vitalik) by and large the sector in such a dumpster fire I'm not going anywhere near it. I've got some bitcoin in a Coinbase account, that's as close as I'm getting.
FabHK 10mo ago
> nobody cares about good tech Indeed. For example: Chia is arguably decent tech (better than Bitcoin), built by Bram Cohen (of BitTorrent fame), innovative PoSpace+Time. But nobody cares, it's at #450 in market cap, way down below Doge (#10), $TRUMP (#72), Fartcoin (#144), Melania (#375).
- underlipton 10mo ago
  The market cap obsession is part of the problem. Can I use it to buy things, easily? That's the only metric that should count if you're looking for practical use, not speculation.
  - NoMoreNicksLeft 10mo ago
    A successful cryptocurrent probably has to start by first having a market that is dissatisfied with the available traditional currencies. If that market were to introduce on (with good tech), then it could immediately see the cryptocurrency used for its intended purpose. At that point, if it avoided the attention of speculators (not forever, just long enough for it to get its feet underneath itself) or could discourage those speculators somehow, what happens then? Is there some other failure mode waiting, or does it take off?
  - wat10000 10mo ago
    It's hard to measure that directly. Market cap is a decent proxy, albeit inexact. If a coin has a market cap of $1.8 trillion, you know a lot of people are doing a lot of something with it, and it's likely that includes using it to buy and sell stuff to some extent. If it has a market cap of $200 million, then there just can't be many people buying and selling with it, and that means it's pretty likely to be difficult to use that way.

Aardwolf 10mo ago

> Someone from the operational team just learned that business relies only on the first group to be successful. Is there any possibility the presence of the people who are there just for fun still encourages/increases the size of the first group?

watwut 10mo ago
Imo, yes. There are where gamblers come from. They are also providing plausible deniality to gamblers.

soerxpso 10mo ago

You also have this quadchotomy in a department store, or in a number of other valuable businesses.