I'm surprised anyone reading this story wouldn't conclude that the real takeaway is to just not engage with cryptocurrency at all. This ecosystem is so convoluted it just turns me off at every level.
To think that any of this would then be used to build a trustworthy ecosystem for non-developers to use, seems delusional to me. And building a VTOL taxi airline on top of it seems like it puts the cart 3 miles uphill from the horses.
Billion!
Since this is an allegation, we must presume innocence. However I still cannot imagine what planet would entrust 10 figures to her control. Witness her rap.
https://www.youtube.com/watch?v=7jlSHGAem6g
But I also realize reading this Twitter thread I do not understand the world of crypto at all.
stay away from all of it.
It's the same thing as reading the terms and conditions.
This is making it so there is no "undo", and no escrow agent. There's value, for those looking to take advantage of others.
Smart contracts on a general computing platform can enable anything, including the reversible payments and reliance on trusted third party delegates that you see in traditional banking, so as a consequence of this maximally expansive design space, I assume they will eventually lead to a financial system that offers a much better set of trade-offs than that of any other financial system.
Crypto is neither understandable nor useful.
I don’t understand at all how wheels move and what is that round thing near my chest and what do with it. Maybe it’s the fifth wheel. Or why fuel is needed, I can’t even find a mechanic who will look under the hood for me if I can’t. Also since my last car could use my ATM card and sign my cheques I had to be extra careful when turning on the ignition and had to see the gps log whether it drove to my bank when I was taking the afternoon nap.
There was no service warranty and guarantee with the car at all. I had to hire an entire division of technicians and engineers to use it. I think few lawyers and auditors as well.
In fact it felt I also needed a PhD in all things automobile to use my car.
Most importantly I can’t see in front of me at all. Front is opaque. I just drive hoping I don’t run someone over or something doesn’t run me over and my car.