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No discussion of Filecoin is complete without talking about how much miners got paid per gb per hour for the past few years (hint: they covered the cost of their SSD in < 1 hour at one point)

It's a great story filled with 80+% APR loans clamoring for unvested FIL balances, all kinds of middle men taking cuts, and of course putting max risk on retail when the ship eventually sinks

I really hope their $300m or whatever will build something useful, but I would be shocked if this tech ends anywhere because the whole project was/is a simple money grab and the grabbings been done already

I've placed 1000s of developers at startups over many years. My advice is forget about the money at 28, it doesn't matter if you earn peanuts or peanuts++

What matters is who you work for and that they develop you/manage you right. Different people need different kinds of teams/incentives/cultures. A great manager at a shit company will be better for you long term.

Also, learn how to hustle. Start sending cold emails to companies you admire. When you don't get a reply or a reply you like, send emails to the employees. In most successful companies there's so much going on that being persistent and annoying is the only way in.

My guess is these were exchange IOUs or "commercial paper" and no USD was involved in this burn.

I can't really see a scenario where they aren't fucked, and it's going to make Terra look like a blip whenever it plays out. Unsure whether it'll be regulation or a rush to redemption but it really can't be that far out.

The idiots who yelled "have fun staying poor!" are now yelling "we're people too please have empathy!"

Can't make this shit up

not yet

I posted a few months ago that when people realize their stablecoins are not so stable, the game's half up. usdt is also an obvious fraud, as is almost all of crypto right now.

Most people have no understanding of the hidden leverage built up in the system and how a small margin call in a negative sentiment env could easily trigger a 80-90% draw down.

You should have cashed out/been buying high quality real estate for the past 6-8 months but if you haven't been doing that, it's still not too late to get out.

YC has gone from 7 super high quality startups in a yearly class to some 300 founderitis startups twice a year.

Nobody who knows anything thinks it's actually a quality signal anymore, it's really just a high passthrough noise filter

From their perspective, they still just need the 1 giga unicorn a year to give their LPs excellent returns so it is what it is

I wrote an addon called unfuck-google which they've now taken down 4 times.

All it does is force 'Verbatim' searches and sort news results by date which makes things better (but still not that great)

About time. Unlike Google or Microsoft before them, this company was evil from day 1.

0/10 for them and anybody who made their money there

Apart from being entirely unearned and unfair, these 30% cuts incentivize platforms to not weed out scams and bad actors.

There are an infinite supply of bullshit apps that have been scamming people with subscriptions that are impossible to cancel. Apple/Google both just send out lip service.

If I was presenting the question more completely, I would have included financial fraud alongside speculation/gambling, which is exactly what you're doing by sending $ across borders without AML/Forex regulatory checks on the txn.

Please show me a real world use case that's better than the status quo and is not speculation or gambling. It's been over 12 years and I'm still looking.

Cryptoclowns can't use the it's too early excuse anymore.

But they choose to listen to a handful of man children running around promising world peace via a distributed database.

From a Coinbase exec: "Tether is a ticking time bomb. Whenever it goes off, it'll be a 70-80% market correction for 2-3 years"

Crypto continues to help nobody and achieve nothing in the real world. This administration has been criminally slow in shutting it down, lobby is strong.

OSX has been shit for a while, they've been focused on iOS and emulation on the new hardware. the kernel_task kext is probably the worst offender.

Think Windows is better at this point, at least you can disable the garbage there.

Crypto is for the ultra banked. To make profit via speculation. And insider trading. Gross conflicts everywhere.

Hope it all burns down.

NFTs are a scam as old as markets themselves. Buy your own supply at any price, then sell to a sucker at a "discount".

Sprinkle around marketing bullshit about how all real world things will be NFTs one day, be really good at capturing imaginations and creating fantasy. More suckers get in.

They'll end the same way as similar scams too - founding teams had no skin in the game since they just paid themselves, pros will ride the wave and cash out in time, and suckers will be left without bids.

"I was only following orders"

This, like the rest of crypto, enables the world's worst humans.

Also, the founder (who loves telling people to stay poor online) is in jail for fraud. I'm shocked.

I really hope Gensler and co sack up and shut down these wannabe pirate losers.

firefox has been the only half decent option for a long time

google is shit spyware

It's a kademlia based app, this shit was around in the 90s. I'd argue the biggest breakthrough was the Turing machine but sure the consensus math is interesting.

We keep talking about how tech should be used to make a net positive change yet we allow this glorified linked list that has 0 real world benefits after a decade to get a pass because some man children run around promising it's the future.

Advertising models will be extinct soon enough. If only the get rich quick assholes moved elsewhere, actual protocol development could do it this decade.

This isn't analysis, it's opinion. But thanks for adding to it in a meaningful way.

The people who get out in time will be a tiny fraction of those that get fucked. And to date, exponentially more people have gotten fucked than have had brilliant endings.

Just wait until people realize the stable coins are not stable either.

There's 1000 or so entities that control 50% of circulating btc. These insiders run the game, they have more information than you and they control the very few exits out there so you cannot really win without being extremely lucky.

Everyone thinks they are smart enough to get out before the next idiot, there's no universe where this ends well for anyone outside the exchanges, miners, and market makers.

> The tech itself is clearly useful in some applications

There have been 0 real world applications for this tech in 8 years outside financial crime, fraud, and speculation. A lot of the same conversations in 2013 ended with "yes but it's so early give it 5 years" and here we are still waiting for a decentralized app that's more useful to anyone than a plain old db.

Also disagree that fiat had any effect on mugging frequency. People with gold/silver coins likely got mugged at the same rate.

You're 100% right. Crypto enables the worst actors and the worst humans around. It's a cancer.

Ignorants will start yapping about "money printing" not realizing they're regurgitating talking points from a tiny group of people who are using their lack of intelligence to become obscenely wealthy.

This is cool but I played a much more complex game with a mind reading headset at Gates (Stanford) in 2007

Quora will be them as well, nobody has figured out how to maintain question/answer quality at scale

Simple up/down voting systems are too easily gamed

Softbank raised a lot of money off early WeWork hype. The management fees on that cash alone will offset any loss WeWork can ever make. And it looks like WeWork will now turn around with spac $ and restructuring. They played the long game and did it well.

Yeah these things no longer cover up the fact that they try to turn you into a serial killer on youtube or that your search results are mostly useless ads