Re:Tether minted most USDT to just 2 firms – Alameda and Cum...
by tablespoon on Thursday August 12, 2021 @01:16PM
(#28158905)
A lot of it also has a strong "Power of Positive Thinking"-vibe. Basically people believing that if only they act and talk like something is true hard enough, it will become true (e.g. nonsense talk about NFTs representing ownership of anything besides the NFT itself). So you have the extra task of trying to distinguish between what is actually true and what some community wants to be true, when almost the only people talking about it are in the latter category.
Re:Tether minted most USDT to just 2 firms – Alameda and Cum...
by trutannus on Thursday August 12, 2021 @01:20PM
(#28158956)
> A lot of it also has a strong "Power of Positive Thinking"-vibe
You know what, I could never put my finger on what exactly it was other than the amature feel of some of the content. But you're correct here, there's a lot of magical thinking that goes along with the crypto world. Lots of random sounding predictions about how crypto will evolve that are clearly not grounded in any deep understanding of technology.
I wonder how much of it is magical or wishful thinking in the classical sense, versus people who lack knowledge in general making claims about things that they don't really understand, which come off as bizarre. I've noticed actual technical knowledge is inversely predictive of interest in crypto.
Re:Tether minted most USDT to just 2 firms – Alameda and Cum...
by luma on Thursday August 12, 2021 @03:21PM
(#28160355)
It's a stone requirement of the ponzi scheme itself. The price only goes up if new money comes into the market, so for anyone currently "hodling" a coin, they are obliged to convince others that buying in is a good idea or they lose their initial investment.
You're right on the mark. Most of the content around crypto is heavily biased and just looks untrustworthy for a number of reasons. From what I can tell, it's because they're actually unreliable sources. Not because they're trying to scam you, but because there's more money in selling you crypto services than there is in crypto itself. So what you end up finding is pretty much all content marketing. Basically, you're looking for how to mine gold, and all you can find are websites from shovel companies telling you about how great gold mining is.
The sites that are not content marketing tend to come off as amateurish, often times because on deeper inspection they are actually run by amateurs. A strategy I tend to use for vetting information is to give the site a scan and look for technical inaccuracies (ie: confused/wrong/bizarre/shallow explanations about technical topics). From that, you can get a good picture of how knowledgeable the source actually is.