Iāve engaged with enough professional shitcoiners, or shitcoin-adjacent tradfi deliquents, to have noticed a hilarious pattern to their butthurt reaction to nobody really caring about ordinals, BRC20, or whatever they are migrating to of late.
keep in mind what a monster breakthrough shitcoining on bitcoin would be to their business models, btw (which I may or may not get around to writing up soon - this isnāt it, fyi). given shitcoinery at large is finally fading away, this spins up another 5+ years of complete and utter nonsense marketing and the FOMOing management fees that follow spouting this bullshit confidently enough.
what theyāve converged on to explain resistance - apathy, even, given I wouldnāt say I care one way or the other. yay fees! - is the idea that bitcoin development works in a top-down manner and has āpriestsā (they like this kind of religious vernacular, which Iāll come back to) who decree what projects will and wonāt be worked on.
the level of projection here is astounding. itās an open network. you can work on whatever you want. we are talking about ordinals NFTs in the first place because you already did it! you ran the scam! you got out with the money! and youāre upset that ⦠you werenāt congratulated for it more?!?
itās completely insane. contrast that to the alternative: they fucking despise lightning and there is no end of deliberate misrepresentations they wonāt tell about it to aggrieve how hurt their butts are. obviously lightning isnāt perfect (nothing is perfect - itās engineering, not art or, as they are more used to, performance art) but notice that isnāt their object level complaint because they donāt have the technical understanding to frame it that way. they describe their complaint as if it were anthropological, something like: the āpriestsā decreed all scaling efforts will focus on lightning, and lo, it was so.
again, itās an open network (this time on top of another open network). I canāt tell you how many times Iāve spoken to founders who are building on lightning because, unlike whatever crypto ecosystem they already spent 3 years toiling away in achieving nothing of practical value but doing free marketing to unscrupulous financiers, lightning actually works. they appreciate the design methodology. they *choose* to work on it. it is as bottom up a phenomenon as could be imagined and yet to the reactionary shitcoiner, it must be top down. how can it be explained any other way? what else could make people want to work on an ecosystem with no money printing if not central and ideological coordination? iT dOeSnT mAkE aNy SeNsE!
(fun fact: now they are learning what nostr is, they recycle all these same patterns of thought. "why would you work on decentralized social media? donāt you know we tried that in crypto? donāt you know you can issue tokens on bitcoin now?!?ā)
so people arenāt using one free and open tool because theyāve been told not to by their church, but they are using another because they have been told to by their church. it couldnāt possibly be that theyāve decided to work on one and not the other because they *understand how they work and what potential value they will have long term, not to their unscrupulous financiers, but to their users and to the world.* nope, couldnāt possibly be that. must be the religious dogma.
now obviously we can expect object level discourse agitating for defi, DAOs, and all that kind of nonsensical bullshit. but, again, itās frankly a more anthropological examination that fascinates me. what is it they are saying about the people involved? is there a social analysis rather than a (quick and boring) technical one?
self-congratulatory as this unavoidably is, what they hate is the raw meritocracy. money means nothing, reputation means *something*, but by and large ideas stand on their own. there is a fascinating subtlety here around the human (i.e. anthropological) response: because this stuff is technical and has to *actually work*; because it isnāt just aesthetic; because it serves a purpose and is validated in the real world; there is some objectivity to what is and is not a good idea. now, you canāt deduce it. it isnāt math. there will always be pros and cons. but it isnāt just taste either. some things *objectively* work better than others. there is nothing āopen mindedā about praising poor engineering.
honest, intelligent people attracted to the intellectual meritocracy will, therefore, on a long-enough time horizon to allow for battle testing the ideas, for teasing out pros and cons to a satisfactory degree, tend to agree on which are the best.
now, these people have bad ideas and get mad they canāt buy or shame or whatever else the meritocracy into getting onboard, so they project all this crap about āclergyā, āanointedā, and whatever other religious vernacular fits their cargo cultish misunderstanding of what it is they are looking at in the first place. heathens to this church are treated as brave, independent trailblazers, fighting back against an intolerant majority (by freely building one kind of free stuff over another š). that almost everybody independently concludes that these ideas are bad, because they proudly have rigorous standards for evaluating merit, BECAUSE THIS STUFF MATTERS AND IS BIGGER THAN YOU ⦠they see as groupthink; as monotonicity; as the hierarchical broadcast of dogma.
and by the way, build to your heartās content. as mentioned above, I donāt particularly care, and I think most people are the same. just donāt demand I like whatever bad idea you are working on. the problem is not āthe buildersā of reformist lore, it is their financial exploiters, of whom this is all downstream ā¦
they all come from a world in which bullshitting hard enough will tend to yield a positive return in the end. obviously, in such an environment, everybodyās bullshit contradicts everybody elseās and yet everybody still wins. the idea of meticulously working to weed out bullshit and narrowing in on the actual truth is extremely uncomfortable if this is all you have ever known, and what you now expect to find.
as alluded to above, the funniest part is the projection. everything Iāve just sarcastically outlined is in fact its very own meme. it circulates in these cliques and infects any host susceptible to non-explanation for this culture shock. *it is not arrived at independently via rigorous reasoning*. it literally is the hierarchical broadcast of dogma.
and itās ramping up for another 5+ year wave. enjoy! šš„³
Iāve engaged with enough professional shitcoiners, or shitcoin-adjacent tradfi deliquents, to have noticed a hilarious pattern to their butthurt reaction to nobody really caring about ordinals, BRC20, or whatever they are migrating to of late.
keep in mind what a monster breakthrough shitcoining on bitcoin would be to their business models, btw (which I may or may not get around to writing up soon - this isnāt it, fyi). given shitcoinery at large is finally fading away, this spins up another 5+ years of complete and utter nonsense marketing and the FOMOing management fees that follow spouting this bullshit confidently enough.
what theyāve converged on to explain resistance - apathy, even, given I wouldnāt say I care one way or the other. yay fees! - is the idea that bitcoin development works in a top-down manner and has āpriestsā (they like this kind of religious vernacular, which Iāll come back to) who decree what projects will and wonāt be worked on.
the level of projection here is astounding. itās an open network. you can work on whatever you want. we are talking about ordinals NFTs in the first place because you already did it! you ran the scam! you got out with the money! and youāre upset that ⦠you werenāt congratulated for it more?!?
itās completely insane. contrast that to the alternative: they fucking despise lightning and there is no end of deliberate misrepresentations they wonāt tell about it to aggrieve how hurt their butts are. obviously lightning isnāt perfect (nothing is perfect - itās engineering, not art or, as they are more used to, performance art) but notice that isnāt their object level complaint because they donāt have the technical understanding to frame it that way. they describe their complaint as if it were anthropological, something like: the āpriestsā decreed all scaling efforts will focus on lightning, and lo, it was so.
again, itās an open network (this time on top of another open network). I canāt tell you how many times Iāve spoken to founders who are building on lightning because, unlike whatever crypto ecosystem they already spent 3 years toiling away in achieving nothing of practical value but doing free marketing to unscrupulous financiers, lightning actually works. they appreciate the design methodology. they *choose* to work on it. it is as bottom up a phenomenon as could be imagined and yet to the reactionary shitcoiner, it must be top down. how can it be explained any other way? what else could make people want to work on an ecosystem with no money printing if not central and ideological coordination? iT dOeSnT mAkE aNy SeNsE!
(fun fact: now they are learning what nostr is, they recycle all these same patterns of thought. "why would you work on decentralized social media? donāt you know we tried that in crypto? donāt you know you can issue tokens on bitcoin now?!?ā)
so people arenāt using one free and open tool because theyāve been told not to by their church, but they are using another because they have been told to by their church. it couldnāt possibly be that theyāve decided to work on one and not the other because they *understand how they work and what potential value they will have long term, not to their unscrupulous financiers, but to their users and to the world.* nope, couldnāt possibly be that. must be the religious dogma.
now obviously we can expect object level discourse agitating for defi, DAOs, and all that kind of nonsensical bullshit. but, again, itās frankly a more anthropological examination that fascinates me. what is it they are saying about the people involved? is there a social analysis rather than a (quick and boring) technical one?
self-congratulatory as this unavoidably is, what they hate is the raw meritocracy. money means nothing, reputation means *something*, but by and large ideas stand on their own. there is a fascinating subtlety here around the human (i.e. anthropological) response: because this stuff is technical and has to *actually work*; because it isnāt just aesthetic; because it serves a purpose and is validated in the real world; there is some objectivity to what is and is not a good idea. now, you canāt deduce it. it isnāt math. there will always be pros and cons. but it isnāt just taste either. some things *objectively* work better than others. there is nothing āopen mindedā about praising poor engineering.
honest, intelligent people attracted to the intellectual meritocracy will, therefore, on a long-enough time horizon to allow for battle testing the ideas, for teasing out pros and cons to a satisfactory degree, tend to agree on which are the best.
now, these people have bad ideas and get mad they canāt buy or shame or whatever else the meritocracy into getting onboard, so they project all this crap about āclergyā, āanointedā, and whatever other religious vernacular fits their cargo cultish misunderstanding of what it is they are looking at in the first place. heathens to this church are treated as brave, independent trailblazers, fighting back against an intolerant majority (by freely building one kind of free stuff over another š). that almost everybody independently concludes that these ideas are bad, because they proudly have rigorous standards for evaluating merit, BECAUSE THIS STUFF MATTERS AND IS BIGGER THAN YOU ⦠they see as groupthink; as monotonicity; as the hierarchical broadcast of dogma.
and by the way, build to your heartās content. as mentioned above, I donāt particularly care, and I think most people are the same. just donāt demand I like whatever bad idea you are working on. the problem is not āthe buildersā of reformist lore, it is their financial exploiters, of whom this is all downstream ā¦
they all come from a world in which bullshitting hard enough will tend to yield a positive return in the end. obviously, in such an environment, everybodyās bullshit contradicts everybody elseās and yet everybody still wins. the idea of meticulously working to weed out bullshit and narrowing in on the actual truth is extremely uncomfortable if this is all you have ever known, and what you now expect to find.
as alluded to above, the funniest part is the projection. everything Iāve just sarcastically outlined is in fact its very own meme. it circulates in these cliques and infects any host susceptible to non-explanation for this culture shock. *it is not arrived at independently via rigorous reasoning*. it literally is the hierarchical broadcast of dogma.
and itās ramping up for another 5+ year wave. enjoy! šš„³
I havenāt! thanks!
3blue1brown is so great. fun fact, I emailed with an idea for a video and he sent a very nice reply!
haha thatās *almost* exactly what Iām looking for! I also watched that a few years ago and loved it. so close, but no cigar.
there is a wave of shitcoinery coming to bitcoin like you guys have never seen.
I started writing up my thesis on this, thinking it would be a cute little note and get a zap or two, but Iām an hour in and Iām just angry. will maybe post tomorrow, but in the meantime enjoy my muse (I read it so you have to read it too):
https://outlierventures.io/article/bitcoin-unchained-the-new-startup-goldrush/
lmao here comes some more:
https://www.standardcrypto.vc/thoughts/bitcoin-is-dead-long-live-bitcoin/
I feel like I get the *idea* behind SHA256 but holding it all in your mind at once - correctly writing out the entire algorithm, for example - is so friggin hard.
does anybody know of any resources that help explain either i) the intuition behind these *kind* of operations, without getting bogged down in exactly which are used, or, relatedly, ii) why certain constants and variables were chosen and what effect they have over other, seemingly arbitrary, candidates?
I feel like what would be really cool, and would tie together a lot of this, would be a split screen video with 3 sections in which 2 very similar inputs - say, with 1 character difference - are run through the algorithm at the same time, and the third section shows what operation is happening at that moment.
that way youād be able to āwatchā the āscramblingā and get a better visual intuition for the mechanics rather than just believing it has certain properties.
I wanna be able to explain *why* it has those properties. Currently I only feel like I kinda can ā¦
there is a wave of shitcoinery coming to bitcoin like you guys have never seen.
I started writing up my thesis on this, thinking it would be a cute little note and get a zap or two, but Iām an hour in and Iām just angry. will maybe post tomorrow, but in the meantime enjoy my muse (I read it so you have to read it too):
https://outlierventures.io/article/bitcoin-unchained-the-new-startup-goldrush/
I even have a good title: shitcoinery without shitcoins š
there is a wave of shitcoinery coming to bitcoin like you guys have never seen.
I started writing up my thesis on this, thinking it would be a cute little note and get a zap or two, but Iām an hour in and Iām just angry. will maybe post tomorrow, but in the meantime enjoy my muse (I read it so you have to read it too):
https://outlierventures.io/article/bitcoin-unchained-the-new-startup-goldrush/
Bitcoin is Venice is the roadmap to the next 500 years. Too hard to read? Iām a retard. Figure it out. Everything you need to know is in that book. Could use nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt on here more.
haha Iām here all the time, I just donāt say much coz my prime skill is shitposting and trollling normies.
it perfectly fits the Number Go Up model, Iāll tell you that much ā¦
Woke up at 4:30, feeling pretty rested.
Iām making an intentional effort to not immediately reach for my phone.
Went outside and read Broken Money on my patio for about 45 minutes.
Now listening to nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z and nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt while I drink coffee while the family sleeps.
itās just me shilling Broken Money so you may as well go back to reading š
yup, replied!
no because the differential in funding rates wonāt turn that to a profit because you canāt know when itās going to happen. the whole construction relies on everybody (rightly) assuming it always goes up on a long enough time horizon. you canāt just profit no matter what! š¤£
BOOM! š§”š„š
LTCMChain šššš
sounds promising nostr:npub1sfhflz2msx45rfzjyf5tyj0x35pv4qtq3hh4v2jf8nhrtl79cavsl2ymqt
itās future of literally everything
exclusively refer to him as āElonās bitchā