@coinmamba As much as I agree with you they’d also have the resources and security to ‘hold’ that gold. Obviously crypto is much more practical but gold is not impossible when your net worth is in the billions.
@racheleesthinks Your writing is incredible. Does this mean you have zero exposure at all to Bitcoin? Also what are your favourite “asymmetric” high upside high downside alts? And Safe to assume you are intending to hold those for long term upside instead of swing trading on pumps
@imtheworstyep@MikeMcDonald89 Curious about this as well. Why straight into BTC instead of hanging on the sidelines for a bit if winter is indeed coming
@PrimordialAA@MazeOrBowie@PhilGalfond Investing in something you are consciously aware is garbage in hopes of a pump has real consequences sometimes. Hopefully the market sharpens up and less and less pump and dump garbage follows
@PrimordialAA@MazeOrBowie@PhilGalfond Just an all around shit spot. Hard line in the sand to completely deter people from using him isn’t the worst play. If the only risk is getting their coins immediately sent back to them no ones gonna be deterred from attempting to use him....
@PrimordialAA@MazeOrBowie@PhilGalfond Right I’d agree that’s optimal in theory. Tougher in practice when he gets gifted hundreds of scam coins all the time. Removing himself from every single one (and more get created every day) is very time consuming
@PrimordialAA@MazeOrBowie@PhilGalfond Yea I guess sending it back instantly (and making a public statement to deter future scammers) is the optimal play.
But doing nothing and encouraging more PnD creators to use him for legitimacy seems like the nut low option. Annoying spot because optics are almost always bad
@PrimordialAA@MazeOrBowie@PhilGalfond There are other ways to burn coins without involving someone that wants nothing to do with your coins in the process. Whole situation sucks but responsibility is 100% on the shoulders of the shiba creators. Situation is not comparable to the Galfond one at all
@PrimordialAA@MazeOrBowie@PhilGalfond It’s not an ideal look. The optics are bad for sure, but when you send Vitalik a bunch of thinly veiled PnD coins he can do whatever he pleases with them. The alternative is them using his name for trust and legitimacy for what could be a blatant scam.