Thursday September 15, 2016
After talking with mod6 on IRC a lot, he recommended I listen to Young Jeezy, stating, “Jeezy changed my life.” This was back in 2013, so I started listening to some Jeezy, from Trapstar on Thug Motivation 101 (TM101), to the more recent Put On. Inevitably, the words of Jeezy changed my life as well, and the realization of the sheer amount universal street wisdom in his recordings taught me valuable lessons.
Well fast forward to 2014. Jeezy releases the single Holy Ghost which would appear on his album The Autobiography. This single is probably one of the most important Jeezy tracks I’ve ever heard, it talks about the fleeting nature of success, and the tragic sacrifices one must make to achieve greatness.
Thursday August 11, 2016
Delusional consumers in revolt of the mass adoption variety, often utilize pseudoscience to advance their agendas. Voices have formulated pseudoarguments in such quantity it has become a disservice to the endearing novice seeking actual education. One of these psuedoarguments involving the debunked Metcalfe’s “Law”, has resulted in an endorsement of scamming. Hopefully, showing the failed application of this pseudoscience in Bitcoin, will allow for the endearing novice to understand the dangers of becoming too friendly to scammers.
Now for the pseudoscientific argument:
Well, I wasn’t the first one who said that. I[t] was some guy named Metcalfe. And as I already mentioned, “Metcalfe’s Law” has functioned pretty good up until now for Bitcoin – showing that, yes, more people does mean more value – despite the fact that you for some reason refuse to believe that.
Building policy around this logic in Bitcoin will inevitably lead to an influx of scammers that prey on weak novices. Unfortunately many have placed confidence in this flawed advice.
Wednesday July 27, 2016
A scam is a scam by any other name, and unfortunately the Ethereum Central Bank fully endorses and runs on scams to keep ether huffers addicted. The company behind The DAO fiasco, Slockit, is one of core hype units for the Ethereum bubble. Their promise of their so-called “Slock” has investors drooling for no reason other than use of the word “blockchain” in the description. The DAO fiasco proves Slockit is ignorant of scammers to the point of enablement.
Usually when one doesn’t acknowledge the existence of scammers in relation to a business model, the business itself usually unfolds into a scam. The government’s solution to scammers is retroactive coercive force – putting one in prison for fraud after the fact. Bitcoin facilitates a mindset where one honors contracts because it’s the right thing to do, while acknowledging the existence of, and identifying scammers without the use of coercive force. As with children and their parents, trust must be earned. When one knows what a Web of Trust is and how it works, scammers are caught in a self-imposed filter, while building relationships with trustworthy peers over extended periods of time – business as usual. Read more…
Thursday July 21, 2016
In my mass adoption as a Ponzi article I noted that a market requires whales in order to have liquidity at increasing prices. With shallow order depth, an exiting whale will crash the market, it’s only a matter of time. After Steemit made Qntra headlines I did some research and posted a comment indicating the sheer lack of liquidity for such a high price.
The next day, STEEM was listed on Poloniex, so I posted on Steemit-itself warning users not to irrationally trade; 24 hours later, only 3 users bothered to comment, the rest likely deafened their ears to resist acknowledging reality. Read more…