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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 May 30

      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

      11 replies 248 retweets 1,059 likes
      Show this thread
    2. Pinboard‏ @Pinboard May 30

      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

      25 replies 103 retweets 736 likes
      Show this thread
    3. Pinboard‏ @Pinboard May 30

      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.

      7 replies 82 retweets 793 likes
      Show this thread
    4. Pinboard‏ @Pinboard May 30

      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.

      5 replies 37 retweets 421 likes
      Show this thread
    5. Pinboard‏ @Pinboard May 30

      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

      14 replies 272 retweets 1,347 likes
      Show this thread
    6. Pinboard‏ @Pinboard May 30

      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

      9 replies 132 retweets 818 likes
      Show this thread
    7. Pinboard‏ @Pinboard May 30

      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

      10 replies 134 retweets 879 likes
      Show this thread
    8. Pinboard‏ @Pinboard May 30

      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

      11 replies 79 retweets 653 likes
      Show this thread
    9. Pinboard‏ @Pinboard May 30

      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

      13 replies 61 retweets 557 likes
      Show this thread
    10. Pinboard‏ @Pinboard May 30

      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

      15 replies 64 retweets 697 likes
      Show this thread
      Pinboard‏ @Pinboard May 30

      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

      1:56 PM - 30 May 2021
      • 61 Retweets
      • 627 Likes
      • SP Vasilij Čujkov🧽3 #OndaChiavica Kiki Rosecrans Linkigi chris needs a new funny name Joseph Oswald Edward Sanders ⭐⭐ Muad'dib Just Dave 🤵💉💉🌳🏡
      48 replies 61 retweets 627 likes
        1. New conversation
        2. ᴊᴏꜱᴇᴘʜ ᴀʟᴇᴏ ䷾‏ @josephaleo May 30
          Replying to @Pinboard

          I remember back in 1994 @bruces writing that crypto currencies are a rats best in his book, Heavy Weather. He was dead on.

          1 reply 0 retweets 0 likes
        3. ᴊᴏꜱᴇᴘʜ ᴀʟᴇᴏ ䷾‏ @josephaleo May 30
          Replying to @josephaleo @Pinboard @bruces

          “Rats nest.”

          0 replies 0 retweets 1 like
        4. End of conversation
        1. New conversation
        2. coast to coast‏ @faustghost May 30
          Replying to @Pinboard

          Fantastic thread. While many of us spent the last decade loathing the banking system after the 2008 calamity, the cryptomania leaves me feeling even more nauseous and clamoring backwards.

          1 reply 1 retweet 3 likes
        3. Noddy Hodler‏ @username_Dizzy May 31
          Replying to @faustghost @Pinboard

          You poor soul. Must be awful.

          0 replies 0 retweets 0 likes
        4. End of conversation
        1. dhokes‏ @b_dhokia May 30
          Replying to @Pinboard

          What does that say about the likes of @balajis?

          0 replies 0 retweets 0 likes
          Thanks. Twitter will use this to make your timeline better. Undo
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        1. New conversation
        2. Dan Finlay‏ @danfinlay May 30
          Replying to @Pinboard

          Dan Finlay Retweeted Pinboard

          I'd love for you to expand on the "better alternative" you would prescribe, because from my perspective, at least crypto is enabling experimenting with better ways, in ways that people can opt into or ignore.https://twitter.com/Pinboard/status/1399073447456563209?s=20 …

          Dan Finlay added,

          Pinboard @Pinboard
          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
          Show this thread
          2 replies 0 retweets 7 likes
        3. Noddy Hodler‏ @username_Dizzy May 31
          Replying to @danfinlay @Pinboard

          He hasn't got any ideas, just criticism.

          1 reply 0 retweets 0 likes
        4. Show replies
        1. Amin Shah Gilani  🗝️ 👨‍💻‏ @amingilani May 30
          Replying to @Pinboard

          Can I get a citation for that?

          0 replies 0 retweets 0 likes
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        1. New conversation
        2. Alan Rew‏ @alanrew May 30
          Replying to @Pinboard

          @threadreaderapp unroll

          1 reply 0 retweets 0 likes
        3. Thread Reader App‏ @threadreaderapp May 30
          Replying to @alanrew

          Hallo, you can read it here: Because Bitcoin especially (through the Tether fraud) and… https://threadreaderapp.com/thread/1399058396913963009.html … Talk to you soon. 🤖

          0 replies 0 retweets 0 likes
        4. End of conversation

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