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Joined 1 year ago
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Cake day: October 8th, 2023

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  • Almost every cryptocurrency other than bitcoin is far more efficient than bitcoin. Bitcoin went though a really weird hostile takeover by Binance, who realized that if they made Bitcoin super inefficient and gave it high transaction fees, then they could make a ton of money by pushing their alternative currencies and proprietary software. It was super effective, and they managed to keep the market centered around Bitcoin, and also make Bitcoin near useless as a peer-to-peer digital currency. Crypto miners will always spend the most effort on the most valuable currency, so we’ve ended up in a system that uses a ton of energy with at best marginal value to the users.

    Bitcoin Cash is the closest thing to the original goals of Bitcoin, and anything based on Etherium will be much more efficient since it’s based on proof-of-stake instead of proof-of-work.






  • Finance bros who run wall street are all idiots, so they designed a system where no matter how stupid they are, they’re always right. If you get a bunch of finance bros in a room and give a really good sales pitch, your valuation can triple despite nothing real actually happening.

    In the case of AI, even the foremost experts are uncertain about how useful AI is. Qualified people disagree and no AI based tool has really proved itself to be robust, but it is amazing at fooling people who are either dumb or willfully ignorant, so it’s like crack cocaine to anyone who works on Wall Street.