puranjay

5 ms·

1.
by puranjay 4y ago
That’s for you to decide. Its properties aren’t hidden. You get the rules handed to you upfront and the rules are always adhered to - BTC inflation will always be what the whitepaper describes. Think of it like poker. People lose money play
2.
by puranjay 4y ago
I don't understand what's the scam in this. You buy BTC because you either seek to profit from it, or you believe in the core philosophy behind it. Both of these are your own decisions. A scam would be you buying a phone from Amaz
3.
by puranjay 4y ago
to be fair, all of this CeFi crap is against the core ethos of crypto. No serious crypto person will tell you to use CeFi. "Not your keys, not your coins" is the first rule of crypto.
4.
by puranjay 4y ago
Most recently, they've reportedly been exploring exit options in India [0]. Friends in my startup circle corroborate these rumors. As an end user in this country, it definitely looks like a business that's close to capitulation. 0
5.
by puranjay 4y ago
It mad wild, wild money through a massive single investment: Alibaba. Its been searching for the next Alibaba since.
6.
by puranjay 4y ago
Much of this seems to be a complete miscalculation of the “new normal” of the pandemic. There was a narrative that somehow all the wild growth we had seen in the pandemic years when everyone was forcibly locked at home would sustain forever
7.
by puranjay 4y ago
> state’s fiat powers come from its credibility, transparency and the power of taxation Nope. State's fiat powers come from its monopoly on violence. Completely opaque and corrupt states have fiat currencies too. Many thriving ones.
8.
by puranjay 4y ago
BlockFi CEO was tweeting about how they took early action when the entire 3AC fiasco unfolded and avoided much damage. Alex Mashinsky was tweeting how Celsius hasn't blocked any withdrawals.
9.
by puranjay 4y ago
Crypto down so bad that the Winklevoss twins are now fronting an (awful) rock band. They don't even state their Gemini affiliations in their Twitter bios anymore.
10.
by puranjay 4y ago
man, I used to hear about XBox Series X/PS5 way back before 2020 and I've never found either to be easily available in stock. As a casual gamer, I can't be bothered to juggle through multiple websites and pay a premium.
11.
by puranjay 4y ago
my productivity craters in the summers because I'm forced to be indoors all day in air conditioning. No random walks around just to clear my head and break the monotony.
12.
by puranjay 4y ago
Its easy to run a fast website when you don't have to host any ads. You know, the thing that gives media companies their revenue.
13.
by puranjay 4y ago
The kind of people who make money like that are also hardwired to keep working
14.
by puranjay 4y ago
> That actually didn't happen the waste majority of cases That's literally the reason for practically all empires and imperial expansions. Rome didn't conquer Spain because they liked the weather.
15.
by puranjay 4y ago
I work everyday too. But not having debt and enough cash cushion to do nothing for years gives you a sense of freedom and confidence that can help you make life changing decisions.
16.
by puranjay 4y ago
most who were active during 2018-19 before the current run 1000xed. Many lost 80% of that but are still wildly in profit. Most of the good traders I know managed to cash out 30-90x. All within two years.
17.
by puranjay 4y ago
If you observed the absolute insanity that has been happening in asset prices, venture funding, equities, and crypto, there is absolutely no way you'd think that money printing doesn't lead to inflation (at best) and the complete
18.
by puranjay 4y ago
There is no real retail demand for crypto. Happens every bullrun. Retail comes in, gets a heady rush as their $5,000 becomes $20,000 (on paper) practically overnight. So they fomo in more and keep holding through the top before cashing out
19.
by puranjay 4y ago
Coinbase is being very poorly led. They haven't innovated at all and they're confused as to who their target customers are. The brief mainstream retail rush has thrown them off. The target customers for crypto are other investors,
20.
by puranjay 4y ago
I’m personally very bearish on any consumer focused company that couldn’t turn a profit in 2020-21. You couldn’t have asked for better conditions to make money than these two years. If your food delivery startup, for instance, couldn’t turn
21.
by puranjay 4y ago
I mean despite record high job openings, the US still has higher unemployment than in 2019. The last two years have pretty much been a washout.
22.
by puranjay 4y ago
I don’t know what the regulations are in India, but in the US, the Truth in Lending regulations kick in if you’re asking for repayment in five or more instalments. That’s why BNPL companies offer four instalments so they can skirt around th
23.
by puranjay 4y ago
Think its also Indian banking regulators aversion to leverage and individual debt. These bnpl companies have been playing very fast and loose with their lending standards. As the economy cools down, there might be defaults. RBI seems like i
24.
by puranjay 4y ago
Increasingly found that HBO is the only service worth paying for. They're the only ones capable of putting out high quality, well-produced shows. The rest are all 80% misses, 10% hits, and 10% "I got time and nothing else to do&qu
25.
by puranjay 4y ago
Off topic, but I hate, hate the Dropbox design now. It feels like an indie blog, not a place I just want to log onto and get to work. Seems like Dropbox has an identity crisis at this point.
26.
by puranjay 4y ago
> Yes it does, increasingly over time. I just ordered my lunch through a virtual cafeteria cashier that was literally a human until a month ago How does it make a difference whether a tortilla was being made by a human or a machine when
27.
by puranjay 4y ago
> Whereas the US, for all of its flailing around politically, is perceived by many people in many countries as a good place to move. The lower language barrier is a massive help. Thanks to British colonizing half the world, there are ove
28.
by puranjay 4y ago
You can't argue against demographics from a economic and geopolitical viewpoint. To create a young person, you need a fixed number of years. If you want an 18 year old to hit college and take on a $100k loan (or join your army an
29.
by puranjay 4y ago
He didn’t just say there will be food insecurity in the developing world; he said there will be food insecurity in the developing world because of competition between nation states far, far away. A much more specific prediction. And that’
30.
by puranjay 4y ago
His core arguments focus on geography and demographics, both of which are “hard” problems. Declining populations simply cannot maintain the “grow at all costs” current economic order. Even an advanced country like Japan with plenty of autom

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