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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My favorite is this screenshot of an exchange saying you can't get your money back, but it's cool because it's not a hack and they're going to write a "post-morterm". Someone would go to jail for every sentence of this post in the real economy, but crypto is the future.pic.twitter.com/owHG02Kkoi
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The humor problem with the cryptocurrency world is the same one we had with Trump. There is no room for parody or caricature. If you can find a premise so stupid it doesn't exist yet (a tall order!) it will only get co-opted by memelord fans of the original, a la Dogecoin
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The strength of this armor against mockery really impresses me. On the one hand it's all just a joke, bro, on the other hand we took all your money.
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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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Replying to @Pinboard
Guess I'm lucky then that the imaginary money on my Binance VISA card is accepted anywhere where VISA cards are accepted, i.e. absolutely everywhere at all...
1 reply 1 retweet 1 like
I have a Visa card too! They're great.
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