when people say bitcoin is a pyramid scheme, in reality it is their first step in realizing that all forms of property ownership are pyramid schemes
olaf
202 posts
- most criticisms of crypto are actually criticisms of property, money, and markets. people just never thought about how it all works before
- i was pitched many times each time sam’s strategy was “we need to know by tomorrow” which is code for “no diligence” first pass was 2018 seed, i thought alameda seemed bad r/r conflict of alameda and FTX, and 4x low float nothing-coins, were massive red flags in later roundsI would love to hear from VCs that did look at @FTX_Official and passed. What did you see (or not see)?
- anon you are in the middle of the largest wealth transfer since the invention of property and the development of the most hardcore software ever written we’re not all going to make it but if you do it right, you can make it
- aptos token distribution scheme is among the worst designs i’ve ever seen, and i’ve seen a lot foundation 67.5% team 19% investors 13.5% the only way coins get into “the community” (lol) is through arbitrary foundation distributions.
- crypto is our last chance to rugpull the boomer scams
- financial markets are becoming multiplayer video games
- anon meritocracy with zero regard for legacy institutional certificates, genetics, or lifestyle, is what i signed up for. if you don’t believe it or don’t get it, i don’t have time to explain it to you, sorry
- polychain was not invested in FTX or FTT, and had no assets on the FTX exchange my heart goes out to all affected by this catastrophe
- searching for anons, protocol designers, etherscan lurkers, deep crypto schizos, game theorists, dao builders, fanatics and degens to join the polychain investment team DMs are open
- if we are relatively rapidly moving toward ~all online content being AI-generated, interestingly internet content 1995-2025 is the seed for all content forever, as training on data from post-2025 will be mostly recursively training on output generated from data from 1995-2025
- interestingly a *core* pillar of the entire banking crisis is a simple accounting trick where held-to-maturity (HTM) debt is not marked based on the liquid trading price, and is instead held on the books as if it hasn’t lost value this basic trick is hiding billions in losses
- would you rather invest in the usa, china, or the internet? dollars, yuan, or bitcoin? yes it’s this easy
- anon there is a lot of noise, a lot of people talking without saying much faster and faster “news” cycles don’t lose the plot we are replacing the global financial system with software that nobody controls
