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Pinboard

@Pinboard

The light inside is broken, but I still work. The Cadillac of online bookmarking sites. Alleged nocoiner. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

Lonely street of broken dreams
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Joined July 2009

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    1. Pinboard‏ @Pinboard 4h4 hours ago

      Pinboard Retweeted Trammell Hudson ✪

      Cryptocurrency solves no problems that it didn't first create, and most of those it doesn't solve. Smart contracts are neither of those things—at worst they're an API for fraud, or as @qrs put it, self-funding bug bounties at besthttps://twitter.com/qrs/status/1395784294451265536 …

      Pinboard added,

      an open ATM with the windows desktop
      Trammell Hudson ✪ @qrs
      Replying to @Pinboard @jwz
      Smart contracts should be considered self-funded bug-bounty platforms. pic.twitter.com/6TlLPHY47l
      5 replies 40 retweets 190 likes
      Show this thread
    2. Pinboard‏ @Pinboard 4h4 hours ago

      I think most of us in the industry gave cryptocurrency a long leash because it's full of technical cleverness and seemed innovative just on those terms. But it's time we recognize that cleverness is being used as bait to defraud more people and perpetuate a con. Enough is enoughpic.twitter.com/Arnrqjtfvo

      4 replies 38 retweets 237 likes
      Show this thread
    3. Pinboard‏ @Pinboard 4h4 hours ago

      The two things people need to know about cryptocurrency are completely non-technical: 1. If it doesn't work, it's just an easy to lose casino chip 2. If it works, it creates an end run around all financial regulation, and will be dominated by uses those regulations try to stop

      4 replies 67 retweets 252 likes
      Show this thread
    4. Pinboard‏ @Pinboard 4h4 hours ago

      Some of those financial regulations are unjust. People can send remittances in crypto to relatives in repressive countries, and you hear their stories from boosters. But people also want to move billions in untraceable crime money around. Guess which traffic predominates

      7 replies 23 retweets 173 likes
      Show this thread
    5. Pinboard‏ @Pinboard 4h4 hours ago

      The third path out of this dilemma is to legitimize cryptocurrency by bringing it into our existing regulatory structures, at which point it becomes indistinguishable from technologies that do the same thing at a fraction of the complexity and one millionth of the resource cost.

      2 replies 23 retweets 198 likes
      Show this thread
    6. Pinboard‏ @Pinboard 4h4 hours ago

      The only reason proponents have to domesticate cryptocurrency is to maintain a situation like the status quo, where part of it (like Coinbase) sits in the legal economy, the rest of remains in the illegal economy, and pathways between the two continue to function smoothly.

      3 replies 11 retweets 100 likes
      Show this thread
    7. Pinboard‏ @Pinboard 3h3 hours ago

      Remember the playbook that Uber used: 1. Promise a revolutionary technology ("self-driving cars are coming"!) 2. Use that promise as a pretext to ignore all regulation 3. Make a fortune 4. Drop the tech story Same goes for crypto

      9 replies 74 retweets 323 likes
      Show this thread
    8. Pinboard‏ @Pinboard 3h3 hours ago

      We also have to address the root reason that cryptocurrency exists, which is that there is a corrupt, overfinancialized casino economy that favors the rich, 2008 proved that the system is rigged so they can never lose, and ordinary people will continue to search for a fairer deal

      7 replies 32 retweets 194 likes
      Show this thread
    9. Pinboard‏ @Pinboard 3h3 hours ago

      A lot of young, idealistic people are getting caught up in cryptocurrency because they want to build a better world. Their talent and optimism deserve a better outlet than this scam money, and we all need a better alternative than the status quo

      4 replies 37 retweets 223 likes
      Show this thread
    10. Pinboard‏ @Pinboard 3h3 hours ago

      A lot of intelligent observers look at cryptocurrency, see that it makes no sense, and reasonably infer that they must be missing something profound on the technical level. Tech culture has a nice tradition of not deriding new ideas, but we need to break it here and speak out

      7 replies 17 retweets 150 likes
      Show this thread
      Pinboard‏ @Pinboard 2h2 hours ago

      From the outside (like from Congress's point of view) people see a trillion-dollar new tech industry, a lot of proponents who of course argue this is the next big thing, and some critics. They don't see the huge silent majority of tech people who know it's a scam. That's on us

      12:19 PM - 30 May 2021
      • 15 Retweets
      • 126 Likes
      • Anthony Moran Nathan Williams Aviv Milner Dappa ranks Sean Blakey Evan Heisman Oren Vinogradov NaturePuppy moretea
      8 replies 15 retweets 126 likes
        1. New conversation
        2. Pinboard‏ @Pinboard 2h2 hours ago

          This thread about cryptocurrency made it to the top of Hacker News and then got flagged off in about seven minutes, start to finish. Just to give you an idea of the polarization on this issue among nerds, and why people with doubts stay quietpic.twitter.com/kI0I2hAyBy

          12 replies 20 retweets 149 likes
          Show this thread
        3. Pinboard‏ @Pinboard 52m52 minutes ago

          Many people in replies are saying "bullshit, there's no billions in laundered money moving over the blockchain!" Right-because it can't handle the volume! The big money laundering is crypto-adjacent and done through projects like Tether. Only ransomware *has* to use blockchain

          7 replies 10 retweets 82 likes
          Show this thread
        4. End of conversation
        1. Un tipet  🔻‏ @Romanetconrock 2h2 hours ago
          Replying to @Pinboard

          This is exactly my view. I am not a tech guy and I always thought there was something I am missing or something I don't get. But everytime someone tries to exolain me crypto benefits, I notixe I understand everything. I just do not see any good at it.

          0 replies 0 retweets 2 likes
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        2. Alice‏ @Alice_comfy 2h2 hours ago
          Replying to @Pinboard

          That's a thought I've had for a while. People are not looking at a revolutionary technology and determining that it's worth 1 trillion, they're looking at the trillion dollar figure and assuming that it must be revolutionary.

          1 reply 1 retweet 4 likes
        3. jean yves Z.‏ @JYSquall 2h2 hours ago
          Replying to @Alice_comfy @Pinboard

          I am not sure you can make that point about cryptocurrencies because it reached the Trillion dollars mark very recently. People have been saying it's revolutionary/scammy long before that.

          0 replies 0 retweets 0 likes
        4. End of conversation
        1. Since `17‏ @GIGACHURCH 2h2 hours ago
          Replying to @Pinboard

          It’s weird and disheartening to see normally sober tech institutions like *IBM* endorsing this stuff.

          0 replies 0 retweets 1 like
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        1. 𝙏𝙤𝙪𝙛𝙞 𝙎𝙖𝙡𝙞𝙗𝙖 〚SaTo  ✉ Server〛‏ @toouufii 15m15 minutes ago
          Replying to @Pinboard

          𝙏𝙤𝙪𝙛𝙞 𝙎𝙖𝙡𝙞𝙗𝙖 〚SaTo  ✉ Server〛 Retweeted 𝙏𝙤𝙪𝙛𝙞 𝙎𝙖𝙡𝙞𝙗𝙖 〚SaTo  ✉ Server〛

          Agreed! But you need to be more specific in pointing to the root of the problem that caused the evolution of the tech to be regressive since 2011https://twitter.com/toouufii/status/1399115488312053763 …

          𝙏𝙤𝙪𝙛𝙞 𝙎𝙖𝙡𝙞𝙗𝙖 〚SaTo  ✉ Server〛 added,

          𝙏𝙤𝙪𝙛𝙞 𝙎𝙖𝙡𝙞𝙗𝙖 〚SaTo  ✉ Server〛 @toouufii
          Replying to @Pinboard
          They stay quiet because they get haunted and silenced by the same exploiters of Bitcoin that started 2011 which is now an industry called "making mining machines" -- Bitcoin USED to be P2P not anymore. They pay biostitutes to tell you otherwise.. NOT my opinion, those are facts.
          0 replies 0 retweets 0 likes
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        1. Manuel Barkhau‏ @mbarkhau 10m10 minutes ago
          Replying to @Pinboard

          It is only a scam, if you can't see the value in it. Consider that people in Venezuela, Argentina and Zimbabwe would disagree about its value, not just tech bros who aught to know better. Consider that you might see its value in the not too distant future.

          0 replies 0 retweets 0 likes
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