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muesli

"Cryptocurrencies are everything people don’t know about computers combined with everything they don’t understand about money."

30 March at 20:12 | Open on mastodon.social
43 comments
Bernd Paysan R.I.P Natenom 🕯️

@fribbledom Their developers have equal poor understanding in both Cryptography and Currencies.

30 March at 20:14 | Open on mastodon.net2o.de
Codhisattva

@fribbledom AI is everything people don’t know about statistics combined with everything they don’t understand about brains.

30 March at 20:28 | Open on mastodon.social
Fragarach

@Codhisattva
@fribbledom
Artificial Intelligence is artificial, clearly, but there is no evidence of intelligence in either the product or its proponents.
Super rapid data analysis, for sure. But damned by the biases of its builders, be they conscious bases or not.

30 March at 21:16 | Open on mas.to
Christal

@fribbledom
Yes, but you know Money and worth is a Mind and beleave thing
..
:/

30 March at 20:42 | Open on social.tchncs.de
Schroedinger

@fribbledom AI is everything people don't know about computers combined with everything people don't know about inteligence.

30 March at 20:44 | Open on metalhead.club
AutisticMumTo3 She/her 🌈

@fribbledom
Cryptocurrencies are a 'wild west' of gambling and scams with little or no regulations for the most part or at least that is how it seems to me

30 March at 20:49 | Open on leftist.network
Jonathan Mesiano-Crookston

@AutisticMumTo3

Yep that's how they started and that's how they'll end.

31 March at 1:42 | Open on mastodon.social
errorbody
🇳𝗮ꜟ𝖼𝘩
errorbody

@Naich @AutisticMumTo3 @fribbledom

When you think of NFTs, what do you have in mind? If the answer is images of apes or rocks which sell for hundreds of thousands of $ or even millions, I once more urge you to dig deeper. From the outside everything might look like a casino, a scam, toy money or stupid jpegs. While that is part of it, there's no reason denying that, it's not the entire picture. Critics love that image and I get it, it sure makes for good jokes, but don't stop there.

31 March at 7:32 | Open on mastodon.social
errorbody

@Naich @AutisticMumTo3 @fribbledom

There are NTFs with real world utility. I just wanted to add that here because otherwise people only think about the three NFT projects they already know. That would be a shame.

31 March at 7:34 | Open on mastodon.social
🇳𝗮ꜟ𝖼𝘩

@errorbody @AutisticMumTo3 @fribbledom
Examples of NFTs which are genuinely useful...?

31 March at 7:51 | Open on fosstodon.org
errorbody

@Naich @AutisticMumTo3 @fribbledom

empowa.io/project/collateral-n

There's a little FAQ at the end. I can't expect you to get what the project is about instantly as you've most likely never heard of it before. You can of course browse their entire web presence to learn more.

31 March at 7:59 | Open on mastodon.social
🇳𝗮ꜟ𝖼𝘩

@errorbody @AutisticMumTo3 @fribbledom
So, basically shares. Reinventing a centuries old concept with an extra layer of needless complexity.

31 March at 8:18 | Open on fosstodon.org
errorbody

@Naich @AutisticMumTo3 @fribbledom
I don't see it that way. Owning shares make you a stakeholder in a company which rewards you with some divident. The collateral NFT support building climate resilient housing on the African continent. On top of that, because you take a little risk, you get extra tokens. The people making use of Empowa, I speak of the homeowners, often have an informal income. They don't get a credit. Using Empowa they rent to own their houses. The NFTs help the developers.

31 March at 8:33 | Open on mastodon.social
Simon Lucy

@errorbody @Naich @AutisticMumTo3 @fribbledom

So it's a pyramid collection which may benefit 2 families which might turn into 100. The current value of $EMP means it's about $37 a share and then how many houses can be built for $37 grand?

But then $EMP lost half its trading value over the year. Why use a volatile barely trading currency instead of just a regular currency? The benefits might attract children but children aren't able to invest in this not very novel scam.

31 March at 9:14 | Open on mastodon.social
errorbody replied to Simon

@simon_lucy @Naich @AutisticMumTo3 @fribbledom

The NFT serves as collateral and not to fund the houses themselves. If you'd use fiat currencies you couldn't get the community on board. Crypto is borderless and not tied to a nation and more accessible in that sense. I can use the fiat currency of my home country and buy ADA and swap it into EMP (which isn't available on many CEXs, yes). I'd see great use of a stablecoin because, as you've pointed out, EMP is a volatile asset.

31 March at 9:34 | Open on mastodon.social
Leen Kievit

@fribbledom I treat them as 'solved sudokus', which apparently are collector items.

30 March at 20:58 | Open on mastodon.social
Vee

@fribbledom Brilliant!!! 🤣 👍 👏 👏👏👏

30 March at 21:06 | Open on mastodon.social
Nicole Parsons

@fribbledom

Slight addition...

"Cryptocurrencies are everything people don’t know about computers combined with everything they don’t understand about money, with national security implications. "

The intent of cryptocurrency is to supplant the US dollar as the global reserve currency, and add profligate & wasteful energy usage with national security implications.

The fossil fuel industry funds these initiatives to continue frying the planet & sabotage democracy.

unu.edu/press-release/un-study

@fribbledom

Slight addition...

"Cryptocurrencies are everything people don’t know about computers combined with everything they don’t understand about money, with national security implications. "

The intent of cryptocurrency is to supplant the US dollar as the global reserve currency, and add profligate & wasteful energy usage with national security implications.

30 March at 21:12 | Open on mstdn.social
Nicole Parsons
Robert Taylor

@Npars01 @fribbledom I must say, we probably deserve it here in TexBanistan

30 March at 21:20 | Open on mastodon.social
(Undercover) Wires

@allynkhine @Npars01 @fribbledom I was born in Houston & lived their for 35 years. I have family in the DFW area and east Texas. I will both agree with you kinda, like on a technicality (the votes), but also hard disagree.

Texas Republicans have been working their asses off for decades just to dumb down the populace alone, starting with children— that’s in addition to all the rest of the voter suppression & convincing ppl of color not to bother bc their votes won’t be counted, it’s rigged, they can’t win/don’t have the numbers (WRONG), etc.

Remember the 2012 Texas GOP Party Platform literally said they wanted to remove the teaching of “critical thinking skills” from classrooms — like whaaaaat. Literally said that. Moses was a founding father in a history textbook (years later)??? Just absolutely bananas shit. And Texans have propaganda spewed at them daily from every direction from infancy about the evil monsters who hate freedom and God—that they will eventually identify as Dems/leftists.

It’s amazing the state is as blue as it is, but we can thank the oil industry for starters. They did a good thing—oops. The ship channel and other polluters near Houston—those corporations brought a lot of jobs, from blue to executive white collar. I read a many years ago that there were more people in Houston who were transplants than were actually born in the area. It’s a diverse city and it continues to grow and spread out in size (into many other small attached cities & communities—many of which turned blue in 2016 or 2020). And those people didn’t grow up being programmed.

Anyway. It’s fucking sad. Some GOP voters know exactly who’s to blame when there is no electricity or water, but they are scared shitless of voting for someone… who they think was selected by the devil (bc pastor said so). Or _____ insert other terrifying (to them) lie they have been fed. It’s fucking sad.

@allynkhine @Npars01 @fribbledom I was born in Houston & lived their for 35 years. I have family in the DFW area and east Texas. I will both agree with you kinda, like on a technicality (the votes), but also hard disagree.

Texas Republicans have been working their asses off for decades just to dumb down the populace alone, starting with children— that’s in addition to all the rest of the voter suppression & convincing ppl of color not to bother bc their votes won’t be counted, it’s rigged, they can’t...

30 March at 23:23 | Open on beige.party
Kitchen Priestess (She/Her)

@JoParkerBear @allynkhine@mastodon.social @Npars01 @fribbledom

Ditto Kentucky. Education here is absolute crap - even the public schools push fairy tales as history, and forget about science - and as a result the people outside the three major urban areas (3 counties out of 120) are too illiterate and uneducated to even read a book or an in-depth article on policy and comprehend it. (If they were so inclined to do so, which I assure you they are generally not.) The educated people came from elsewhere or are the kids of those people. You know how the *average* reading level in the US is sixth grade? Here in places it's fourth or fifth (somebody had to be below average, and Kentucky is one of those somebodies).

@JoParkerBear @allynkhine@mastodon.social @Npars01 @fribbledom

Ditto Kentucky. Education here is absolute crap - even the public schools push fairy tales as history, and forget about science - and as a result the people outside the three major urban areas (3 counties out of 120) are too illiterate and uneducated to even read a book or an in-depth article on policy and comprehend it. (If they were so inclined to do so, which I assure you they are generally not.) The educated people came from elsewhere...

31 March at 0:28 | Open on babka.social
Rage Rumbles 🏴‍☠️🫂 🔞

@Npars01 @fribbledom If everyone is dead who buys the fossil fuels? Seems a bit short-sighted to kill your customer base.

30 March at 23:06 | Open on mastodon.social
Nicole Parsons

@black_flag @fribbledom

The explanation of what motivates the fossil fuel industry is Warren Buffet's "One Last Puff" business strategy.

Buffet's early investment strategy depended on finding a business on its last legs, stripping it of saleable assets, loading it with debt, & diverting its last ounce of profit elsewhere.

That's what the fossil fuel industry appears to be doing, ginning up profits & investing it in systems to prolong its primacy.

AI for example.
intelligentcio.com/me/2023/12/

@black_flag @fribbledom

The explanation of what motivates the fossil fuel industry is Warren Buffet's "One Last Puff" business strategy.

Buffet's early investment strategy depended on finding a business on its last legs, stripping it of saleable assets, loading it with debt, & diverting its last ounce of profit elsewhere.

30 March at 23:29 | Open on mstdn.social
errorbody

@Npars01 @fribbledom

The Bitcoin network uses PoW (Proof of Work), but most other blockchains use other consensus mechanisms such as PoS (Proof of Stake) which only use a small fraction of energy. That's an important distinction to make.

31 March at 7:02 | Open on mastodon.social
John Wilson
(Undercover) Wires

@fribbledom who said it? Since it’s in quotes — does anybody know?

30 March at 22:17 | Open on beige.party
muesli

@JoParkerBear

Probably John Oliver, but I tried to (lazily) find the actual source and couldn't.

30 March at 22:18 | Open on mastodon.social
Reticent Turnip
(Undercover) Wires

@ReticentTurnip @fribbledom ahhhhh. Idk why I didn’t even take a wild guess in that direction except I am literally stupid-tired today. Thanks, everyone 🙂

30 March at 23:26 | Open on beige.party
Your Weirdness

@fribbledom Applies to me as well, I guess... lol.

30 March at 23:48 | Open on snowmans.land
Sampath Pāṇini ®
martenson
ChasMusic (he/him)

@fribbledom ¿What happens when cryptocurrency meets the xz backdoor?

#xz

31 March at 2:15 | Open on ohai.social
elCelio 🇪🇺 🇺🇦

@fribbledom the secret of bitcoin trading:

"tell all your friends when the bitcoin is going up, stay silent when it's going down"

31 March at 4:42 | Open on mastodon.uno
kinyutaka
Phil Thane ✅

@fribbledom I know a teeny bit about computers and even less about money but it's enough to convince me to give cryptocurrency a swerve. I wish I could dodge AI too but LLM text and fake images too easy for corporations to deploy so we'll get those like it or not.

31 March at 7:01 | Open on toot.wales
Benjamin

@fribbledom That's the single best explanation of this stuff that I've ever seen.

31 March at 7:01 | Open on mstdn.games
JW prince of CPH

@fribbledom Just like how AI is everything people don't know about computers combined with everything they don't know about... well, anything.

31 March at 7:43 | Open on norrebro.space
Sumukha S
n_to

@fribbledom Chatbots are everything people don't know about computers combined with everything they don't understand about communication.

31 March at 9:15 | Open on digitalcourage.social
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