Can't recommend this post highly enough for fans of cryptoabsurdity. Smart contracts locking out $232M because of a missing character, "stablecoins" that are neither, someone meekly asking on Reddit whether 30,000% annualized returns are sustainable.https://irony-97882.medium.com/the-melting-of-iron-89469b01e083 …
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I think of this situation as fractal stupidity. You can zoom in on a detail or zoom out to the bigger picture all you want, but it's scale-free, it looks the same at every level. This paradoxically leaves you with nothing to critique, no thread to pull on that unravels the wholepic.twitter.com/BknyfF0YhI
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To stick with the math theme, I propose we co-opt the cryptocurrency system by just calling all of it "imaginary money". Then we will be able to use it in combination with real money to perform rotations and reflections in the financial plane.
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End of conversation
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So you’re saying my idea for Voidcoin where the official value is nothing and people just give me money to buy it might work.
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It's a modern version of socrealism and "we don't have your coat, sir, but how are you going to make us accountable?"
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It's a variation of the old joke about the best way to survive a bear attack is to run faster than the person with you. Crypto dudes don't have be geniuses. They just need to be slightly smarter than the people they're selling crypto to.
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