granddemolisher

I got it. I never thought of people using Instagram or any other social media for soliciting advice on sensitive personal topics which ought to be ephemeral and private (encrypted instead of available to thousands of employees at Facebook and elsewhere).

Why do you need to keep up with what other people are willing to announce to the world they are doing though?

I always found this a tad odd. Most people would only share flattering or happy pieces on social media so you cannot account for hardships or problems they are facing in real life which I assume would be one objective reason to keep up with family.

He is getting bailed out by people who has interest in keeping SOL up.

There are a few individuals and firms invested in solana ecosystem bailing out companies in the background right now which is increasing the price for liquidation.

Even if he got liquidated, then he could just buy sol at cheap due to contagion from his relatively stable loan in stablecoins and many investors will still need to bail out to recoupe their sol investment. He also could have short positions.

It's the most optimal move for someone with that big stake.

Hilarious.

If you ever been in a DAO, you would know vast majority of people including whales don't bother to vote at all even if you personally spam them to vote on matters that impact them.

Which is how many DAOs don't require many votes to pass as the limit gets lower until they are able to reach a conclusion at all.

Depends on the type of mushroom and cultivation method. You need to be careful with a sterilised environment. You need air filtering.

Amazon won't go anywhere but its not a good place to work.

Google might go down and may have to cut employee benefits and compensation soon. Amazon has been eating their ad revenue at a staggering rate.

Likely not but SBF said he is going to bail out crypto companies earlier so yeah that celcius thing might have been due to him.

No, it won't. I would join FTX if you want to work in crypto. If not, join apple or Microsoft. They are the only good safe play for next few years among MANGA.

> This whale is probably just happy to default on the loan and get liquidated at this point.

Understandable but absurd given the systematic risk.

I find it as absurd as anyone else.

The field is unfortunately rifled with people who are shills and religious believers. I have talked to a few VCs and technical people drilling down into the tech - I had better arguments than them for why someone would use the projects they funded or created.

Starbucks

An international swift transaction takes days or sometimes weeks to clear. In developing countries, bank will take its sweet time to clear it which may take even more than two weeks.

It costs tens of dollars in fees and significant percentage in currency conversion cost if you live in a country where you cannot hold foreign currency received directly (Many unbanked countries have these kind of absurd laws).

So you will lose hundreds of dollars on currency conversion on a transaction of a few thousand easily.

This is taking into account the best bank account you can get with high income. At best, you might end up paying tens of dollars on a few thousand transaction in conversion.

Solved problem? Not at all.

I can provide so many examples where banking is broken. People buy registered companies for a company bank account in middle East because you cannot easily open a bank account if you are a foreigner or foreign company. You need to have hundreds of thousands in seed capital to start a current account.

In developed countries, I have seen friends struggle with getting a home loan because they are self employed or founder.

Maybe you don't believe crypto is the solution and I can accept that but banking system is nowhere solved.

Use an escrow? It's pretty simple to build reversible transactions for an erc 20 token on EVM.

Obviously you would introduce a centralized arbitrator. It's a solved problem in crypto except nobody uses it.

Some of the popular protocols pay around 50-200K USD per month to developers or they used to at least before the bear market.

> This is however contra the promise that everything is decentralized by design and not under control of a single actor

This is still decentralized because people need to coordinate to make a change. Decentralisation doesn't mean a system without human deciding what happens. It just means decentralisation of the power between the participants and ability to enter the room without creditionalism.

Same is true for Bangladesh, India, Philippines, etc. They all have good Internet connectivity but too many unbanked people.

IMO, the term web3 is tainted by VCs using retail to dump their tokens faster than they can dump equity in traditional IPO which is less transparent to average schmuck because most of the money comes from the retirement funds passively investing in everything.

It's their shortcut to liquidity which resulted in overpromises and dumps.

It's not unreasonable for someone to be sceptical but to dismiss it all together is a mistake.

We need to go back to the core. Decentralized financial instruments built to help people prosper economicly. To uplift poor people in unbanked countries. To stop dictators from rugging poor people and investors. To provide individual freedom and highest level of personal attainment.

The yield bullshit needs to stop.

Edit: I don't mean all yield strategies, just ones which are unsustainable (most of them).

I want unsecured lending products in crypto based on on-chain reputation which happens automatically on taking small loans or doing a lot of transactions maybe endorsement system where institutions stake money in return of verification.

Banks won't provide loans to people who need them the most. Even self employment people and founders with millions of dollars in exit struggle with a home loan because banks refuse to deal with anyone who doesn't fit their cookie cutter.

I believe crypto has potential to disrupt it.

I love flash loans for this exact reason. They are unique to crypto, allowing freedom to anyone to increase market efficiency by taking advantage of arbitrage without creditionals and needing absurd amount of capital to start.

> Today, I ended up going to my other bank and pulling all of my money out as cash. I can't trust the system to not steal even more money from me. That's messed up. Because monday is a bank holiday, now I have to wait until tuesday until my accountant can deal with this bullshit. What kind of broken system is this?

Same.

It's insane how little control and power you have as an average person. Your bank accounts can be frozen on a whimp, you can be put into a jail with no attorney because you cannot use your own money to pay for them and forced to confess to something you never did, then slave away for the state.

There are too many laws everywhere which means you've broken some. The only difference between you and the person who got caught is selective enforcement and someone wanting to make an example or fulfil their own goals.

And financial system will snitch on all of it.

You have no privacy. Is that not insane? You could be jailed for having a financial transactions on grindr in some countries in the world.

Countries impose financial and currency controls against the benefit of the people all the time.

It's not "freedom" if you cannot choose to take your money outside.

It's fucked up how normalised limiting freedom has become. You don't notice it. The state controls so much of your money forcefully with a threat of violence and isolation.

Your money that you work hard for, sweat for, break your bones for.

I work for a crypto company although I truly believe we are solving something here instead of bullshit which is 98% of the industry.

Sadly, investors aren't pouring money they are in tokens of goddesses.

If you think all your company is doing is scam, then by all means leave. Otherwise, stay if you want to.

I have not found many people who think what we are building is a scam once I explained and demoed.