More cryptofuckery.
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All kinds of petty and shitty behavior
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Wait, why were Discord servers part of their grand tulip scheme?
“We’re using the latest encryption technology, we track it all on a distributed block-chain using rugged and tested algorithms, but … oops, someone hacked our IRC channel and it’s all turned to shit.”
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You can’t access your fake money? Sounds bad.
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It’s a common thing in crypto. The blockchains themselves are designed by paranoid security nerds who obsess about cryptography, trust and defense against malicious actors. But peripheral “web3” developers are “move fast and break things” types who prioritize buying a Lamborghini over implementing security features, and the average user is a Line Go Up fanatic who doesn’t care or know any better. So the ecosystem is held together by duct tape and shoestrings, despite having a (uselessly) solid core.
There’s an interesting overview of the state of “web3” by a security professional:
The basic idea is that, by and large, crypto users don’t really care about security, decentralization or other things that blockchains are supposed to be good at – these are just buzzwords that attract investor money and cause a gold rush. And when nobody cares about the ideological stuff, you kinda have to accept that anything you can do on a blockchain, you can do much faster, cheaper and less wastefully with a good old centralized database. So the author predicts that NFT platforms and the like will gradually “streamline” their functionality by skipping the blockchain wherever possible, until “all the web3 parts are gone, and you have a website for buying and selling JPEGS with your debit card”.
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You can’t have cryptocurrency without cry.
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If it can stay below about $25k for a while then that would mean a lot less energy being wasted on this imaginary “currency.” So a real win for the environment in addition to the schadenfreude.
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Hindsight may be 20/20, but….
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In the format of Jeopardy:
What is the opposite of wearing your heart on your sleeve?
Correct!
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Bill Gates is 100% right.
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About this one specific thing. He is also a piece of garbage
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While I’d be amused if Musk actually had to pay 250 billion dollars for running a pyramid scheme on $DOGE, it has always been public knowledge that $DOGE is a joke; the founders made clear it was a joke. Just because some billionaire promoted it for the lulz and you were dumb enough to buy it sight unseen doesn’t change that fact, so I don’t think this class action suit stands a chance (and even if it did, you’d be outing yourself as a gullible rube if you signed on to the class).
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