@@user-tx3xy7lw6w I mean, he's a clerk at a Sinclair petrol station. So, maybe? That seems like the kind of job a millionaire would keep doing after becoming rich, right?
It turns all the hand wringing is about the ai paperclip problem is pretty pointless when we humans are busy converting our planetary resources into math problems for speculative profiteering without the help of nanomachines or other hyper advanced tech.
Big fan of time loop theory. What if The Singularity already happened and everyone's wishes come true - but yet it is obvious that people have contradictory desires. What do you wish for, Shinji?
I don't think I've ever found a podcast that's stolen re-uploaded clips that dwarfs the original this much, it took me ages to find you guys, but I'm really glad I did
My only regret is that the crash happened BEFORE Sqaure-Enix went full bore into NFTs so I could watch them fold in on itself. At least I got to see them liquidate all their IP holdings and be left with their dick hanging in the wind though.
i'd wager if asked, all involved would agree with that sentiment. i think it just had been pushed into the background because crypto/nft's are the hot topic of the cultural moment. but the only difference is basically a fallacy of antiquity and most everyone is probably in agreement on that. That being said, the stock market does at least get to hide behind the idea that it presumably is underwritten by actual material investments. whether or not that actually bears out is another matter, i'm sure.
The stock market has so much more validity than the crypto market is what the real point is. Crypto is basically nothing because it doesn't represent anything, a stock, security, bond, or any other kind of financial device. Crypto just got really hot because bitcoin did so well and that got other investors attracted to the idea, but most crypto coins are just completely speculative. Finally, the SEC has carved out some pretty fair rules for investing at all levels and I think that those rules protect people as well as keep people interested in the market. Anyone who got into crypto is a pioneer for technology and new investing possibilities but it's really just a dead end, maybe there could be some use for it in the future but I couldn't tell you what that looks like. Basically crypto is like a big military project like a super laser that the government puts billions into just to see if it's the next step but it doesn't go anywhere, in this case, it was investors and founders that tested this new technology out and the market is going to have to feel the pain for it.
You'd have to stretch the word hard (like your mom last night :o) to compare the two. Stocks can fund companies that can have effects on the economy and world both Marco/micro levels. If leveraged by a clever actor it could be used to aid in positive changes or if used by short sited fools be used to burn people for a big night show. Crypto is by hype alone. Even mass campaigns to aid it will fail before once the buck stops nothing is visible or tangible to show for it. No possible material impact bar just wealth moving. It's so blatant that only the completely unknowning would fall for it being a future currency.
I'd be willing to bet that if there were not a system in place already to bet on or against the success of companies or assets, people would invent one. Out of the infinity of possible economic casinos that COULD arise from that urge, I think the current form we have is probably towards the benign end.
A huge problem crypto is having, even today as it crashes and burns, is survivorship bias. Yes, people got rich, unfathomably so. People bought in bitcoin at values between $1 and $100 and cashed out at values between $40000 and $50000 and became millionaires in a few years. Even trashcoins like safemoon had their value multiply x100 before they died. I'm sure some clever dutch dude bought lots of tulips for low prices, sold them for lots, and bought a home and some ships with his cash too. Doesn't mean tulips were ever a good investment.
Oh no... I bought 10 tulip bulbs for 5 Euros in an Amsterdam market last Sunday... At least the package says they can be reused for more than one season...
It’s a pump and dump scheme that people are willfully blinding them self to, and partly due to they know the American dream is over. And there is no way to legitimately achieve it, so they play this it’s their way of dropping out of an economy that is mutually beneficial to the side of the economic transaction you fall buying or selling. Where as this in biblical terms you are literally serving the machine, mining it’s blockchain shaft and to whatever end?
I'm not an educated man but somehow I knew eight years ago when I first heard of crypto that I was not interested in putting any money into it. I was just as broke back than as I am now and I have no money to invest in something as fragile as Bitcoin.
So, as the apes lay dying and unslurped before us, I feel the need to make an input. I have never owned crypto, but I do think digital currency might be viable in a different form and this video helped me understand why. I think BTC is a CIA op and Elon is a moron, and here is why. Money is a utility as the guest notes. It is a device that facilitates the machinery of society, like electricity or water or mail or roads. Money derives value because it allows access to the other functions of the society by contract with its government. The base value is from what a government makes available to participants, like labor, roads, and infrastructure. The value is reified when the social contract is affirmed by payment of taxes which allows continued participation. Like an Amazon membership. However the greatest value is multiplicative. Money has multiplicative value from participation, much like Twitter or Facebook(but good). So the more people exchanging it, the more valuable it becomes as a utility and the more value it generates as a utility. This is one way current crypto is a complete failure. The utility is inverse to the number of people using it because of how mining works. Specifically the core work "value" generated is incorporated directly into network size. So as the network grows the more difficult it is to make a transaction(hence the stable coins). It is designed to fail because it can't function at large scales without central brokers. It's hard to believe the person making the code wouldn't know that, an it's very odd it became so popular given it had no base of value. Which makes me think it was propped up but intended to ultimately fail and misguid people. I think the massive waste of computing power could be sold to universities or other research organizations. Maybe by way of a membership. So the core value would be tied to the utility the network actually provided researchers. So additional computing power would improve the core utility and increase value. At the same time, because network size does not cause slower transactions, it could actually be kept viable by partitioning the necessary proportion of computational resources to making and verifying transactions quickly. Instead of exploring this, Elon pumps doge.
@@NateMcBrady Yeah seriously. I remember 4 or 5 years ago when my young friends were getting their parents to invest thousands of dollars in Bitcoin when it was exploding in value and recognition. It sharply decline in value by graduation, and I remember hearing about genuine ruination and estrangement happening to some families.
@@freakyzed8467 I think they mean audio quality. It's a fair point, but Felix obviously has Audacity Dyslexia, so... way to shame the differently-abled, So H. Maybe we can chip in and get Felix a service dog that knows how to save desktop audio?
They’ve been phoning it in for well over a year at this point. This is is the worst the show has ever been. I don’t think Virgil or Amber were necessarily what made the show good, but there was a marked decline in quality that happened around the time that they left.
