puranjay

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211.
by puranjay 4y ago
Historically, gold has kept your purchasing power largely intact over long periods.
212.
by puranjay 4y ago
Yeah this is not even remotely a crash. Even laggards who bought anything in late 2020 are still in profit. Anyone who bought anything pre 2020 is wildly in profit. In 2008, SPX eventually crashed to 700ish - a level it had last seen in 199
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by puranjay 4y ago
How do you think it will impact startups that essentially grew by incentivizing users and never achieved unit profitability? A funding crunch can’t be good for their survival
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by puranjay 4y ago
100% over for now. No one is making any money right now, except for developers getting salaries and smart contract auditors Whether it comes back or not will depend, imo, on Bitcoin adhering to the 4 year cycle. So far, Bitcoin has gone up
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by puranjay 4y ago
You lose access to your account and all its funds Which is why I said that the tech really needs a lot of improvements. But the core idea of a browser wallet that takes care of logins and payments is really powerful and might just be crypto
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by puranjay 4y ago
I fear that any regulation that enables wider adoption of these wallets will also bring in additional steps that will kill the biggest pros of these wallets currently - privacy and anonymity
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by puranjay 4y ago
The one thing that still makes me excited for this tech is web wallets and being able to pay/send money with them. If they are widely adopted, and a safe stablecoin (maybe even a CBDC) becomes the defacto transacting currency with quic
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by puranjay 4y ago
There really isn't. I'm deep in the crypto hole and have a whole bunch of close friends in private telegram groups scouring for opportunities. And collectively, we've only been down outside of a few lucky plays and/or ai
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by puranjay 4y ago
As a recovering crypto bro, none of my other friends have been impacted by this entire UST/Luna meltdown at all Why? Because crypto bros are too degen to be okay with 15% yield lol
220.
by puranjay 4y ago
As someone who went heavy into crypto/web3, it does pain me to admit that there really are no use cases besides making money. Which isn’t a bad use case by itself, but after using practically hundreds of protocols and projects, there’s
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by puranjay 5y ago
Oh this is gold. From 2009 too!
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by puranjay 5y ago
> Xi is a dictator. Countries that have never known democracy, or received democracy without ever truly fighting for it, don't really care much whether you're a dictator or not a dictator- that's all that they've know
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by puranjay 5y ago
> So if I understand correctly, the benefits of Web 3 are largely payment related And payment/finance/money is arguably the most important industry in any capital-oriented society and has a deep impact on the way people live. A
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by puranjay 5y ago
There is simply no way to make payments without bypassing banks. If you think banks are great and have never ever been involved in anything bad, go ahead and keep on doing you. If you think they’re not, come join us this side. You: give you
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by puranjay 5y ago
No one is forcing you to use it in that case. You can continue giving away your privacy to big corporations. Meanwhile I'll not only keep my privacy but also make wild, wild money speculating on crypto assets. Win-win by all accounts.
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by puranjay 5y ago
Web3 gives me immediate access to a global, always-on, completely decentralized market with absolutely no gatekeepers. Money has always had gatekeepers. Sure, Stripe et al have made the barriers to entry lower, but they've only replace
227.
by puranjay 5y ago
What if I don't want to share my email, phone number, bank account, and credit card data with PayPal? Its really disturbing to me that privacy and data rights get absolutely zero consideration even on HN.
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by puranjay 5y ago
Just today I paid for access to a data tool, icy.tools. I simply connected my Metamask wallet, clicked on “Unlock premium”, confirmed the transaction, and it was done. Normally, I’d have to make an account (and doge the obligatory “sign up
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by puranjay 5y ago
The criticism of this ecosystem is just absolutely short sighted. When I first got internet, it was 56 kbps, a single page took minutes to load, and it was so expensive that I couldn’t stay online for more than 30 minutes per day. It took 5
230.
by puranjay 5y ago
I signed up and paid for an analytics tool subscription by simply clicking “connect with metamask”. Another two clicks to send the payment and I was done. No email accounts, no sign up forms, no credit card info, nothing. I’m a lifelong con
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by puranjay 5y ago
I, for one, am able to access sites without disclosing my identity at all. I paid for a membership to icy.tools the other day entirely with my metamask account and without using any email/phone number at all I’d be very, very happy if
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by puranjay 5y ago
My wife had a conference yesterday that was initially going to be held in Berlin but because of the pandemic, happened entirely online. The conference organizers set up a virtual environment in Gather.town where your avatar could walk aroun
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by puranjay 5y ago
This is true for all art markets - nothing surprising. Outside of a few masters, you can’t expect immediate liquidity from your art.
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by puranjay 5y ago
It disappoints me that comments on crypto threads on HN have the same tone as NYTimes crypto articles. I would have expected this place to be more curious and less dismissive
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by puranjay 5y ago
If there is ever a proper market crash, I feel that most of these startups built on endless VC-supplied liquidity and unfavorable unit economics will just wither away.
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by puranjay 5y ago
Modi’s policies uniformly have the same pattern: big announcement followed by a massive PR campaign, initial delivery, but later once media attention fades, either a quiet retraction or absent follow through. This is either a pattern of gra
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by puranjay 5y ago
Again, how does what a woman who died before I or the majority of India was even born relevant to what BJP is doing NOW? The BJP has now been in power at the center for the majority of this century. Blaming everyone else is just evading res
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by puranjay 5y ago
I fail to see how Congress is relevant to this argument at all. I expected HN to not fall victim to whataboutism so quickly
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by puranjay 5y ago
Its only going to get worse imo. India is an economic hole - much of it of our own doing - that is going to be very hard to get out of. Poorer governments tend to be desperate and authoritarian.
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by puranjay 5y ago
This government’s hare brained policies are the reason why Indians today are poorer than they were 5 years ago. At this point, there is no factual evidence at all to any claim that the government’s policies are actually effective

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