Bitcoin: no angel investors, only Faustian bargains

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Cyrano4747: Sep 25, 2006; Yes, I know I'm old, get off my fucking lawn so I can yell at these clouds.

PurpleXVI posted:

I wonder when "disruption" became an inherently good thing to some people. I mean I could "disrupt" a social function by walking into the middle of it and taking a dirty great poo poo on the carpet, that'll definitely upset the current mechanics and force the adoption of a new one(perhaps someone watching the door and holding the function away from the nice rugs), but it's not really going to improve the amount of fun or productivity anyone's having. Half the time, "disrupting" an industry just means "forcing everyone to adopt new rules that'll prevent you pulling this bullshit again that was a obviously a terrible idea to everyone but you, and therefore no one had thought it needed to be explicitly forbidden or to have a dedicated agency preventing people from doing it."

Short answer? The dot com era and the birth of the commercial internet. I don't know when, why, or how but it became the buzzword to describe how being able to do stuff online was upsetting some very ossified ways of doing things that had been unchanged for as long as anyone could remember. And in some cases it was genuinely a good thing. Barriers to participation in a lot of things were breaking down, and that was extremely good for a lot of people.

I lived very, very rurally in the mid-late 90s and I was more than a bit of a nerd. The local bookstores were absolute, utter drek. There was a mom and pop one on the main street that sold children's / YA books. The owners thought that they had a duty from God to protect young minds from harmful things, so anything spicier than Encyclopedia Brown sure as poo poo wasn't there. The other option was a B. Dalton in the mall that I swear got new stock in once a year, and that was probably the poo poo that didn't sell first at the big city three hours away.

For years I ordered my Star Wars and Battletech novels through the hobby shop nearby where I hung out. Looking through the store owner's catalogs, and basically just getting him to tack on stuff when he got the next crate of Magic cards etc. But that was limited to what was in the catalogs and turn around time was abysmal. I remember one book in particular that I was looking forward too that took almost six months between me asking the owner to place the order and it finally coming in. I don't know if he forgot or if it was delayed our out of stock or what, but not idea.

Being able to hop on my computer, push some buttons on Amazon.com, and have the books I wanted to read at our house in less than a week (gently caress a day, less than a week) was motherfucking mind blowing. Overnight I wasn't restricted to the garbage at the local book store, but could read literally whatever I wanted. I don't think I spent a cent at that loving B. Dalton again.

All the 90s-00s reporting around internet business tended to focus on stuff like that, and I'm guessing that's when "disruptive" became a positive for a lot of people. I sure as poo poo was stoked that Amazon disrupted the gently caress out of the rural book selling business, because for all the problems Amazon caused holy poo poo it made living outside a major population center way, way, WAY better in a lot of ways.

# ? Feb 9, 2023 15:11

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# ? Jun 4, 2024 01:54

Aramis: Sep 22, 2009

You're way overthinking this.

Successful disruption is what leads to the largest short-term profits, so people get blinded by greed. End of story. No one that I know of truly sees it as intrinsically good, but rather as a source of wealth.

Edit: was replying to the original question, not the effortpost reply, which I will now read.

Aramis fucked around with this message at 15:14 on Feb 9, 2023

# ? Feb 9, 2023 15:11

PurpleXVI: Oct 30, 2011; Spewing insults, pissing off all your neighbors, betraying your allies, backing out of treaties and accords, and generally screwing over the global environment?
ALL PART OF MY BRILLIANT STRATEGY!

Cyrano4747 posted:

Barriers to participation in a lot of things were breaking down, and that was extremely good for a lot of people.

Oh, yeah, I'm not contesting this, hell, just take stuff like Bandcamp that definitely disrupted a traditional music industry by letting anyone publish their music and reap like 90% of the profits rather than needing to negotiate with a studio/label and then get maybe a mere 5%.

But that disruption was a side effect of a better business plan that worked better for the consumer and gave them actual benefits, forcing the old guard to play catch-up with the new reality. These days it feels like a lot of new businesses are pitching themselves like disruption is the main purpose. Like the first line isn't "this thing we're doing is gonna own because it's gonna make things better/easier/cheaper/cooler for people!" it's "this thing is gonna own because it's gonna DISRUPT things, old man!" And I'm baffled that there are idiots who see that as inherently good, like anything's great if it's upsetting stuff.

If that makes sense.

# ? Feb 9, 2023 15:16

Random Stranger: Nov 27, 2009

Disruption is pretty much textbook "my tech savvy proves that I'm smarter than all of you :smuggo:

". For every time someone comes along and actually overturns an old structure in a way that improves things, there's fifty assholes who don't get that there are very good reasons that things are done a certain way. And almost all of those assholes just want to reinvent the wheel, but in a way that they get the money instead of someone else.

# ? Feb 9, 2023 15:20

Fish Appreciator: Nov 25, 2021

I'm clearly inconveniencing you, but you'll thank me for it later.

# ? Feb 9, 2023 15:38

feedmegin: Jul 30, 2008

ultrafilter posted:

Can you imagine trying to explain the internet to someone from 1996?

... (

)

The internet existed in 1996. The web too, even! I was on it.

# ? Feb 9, 2023 15:51

Zero One: Dec 30, 2004; HAIL TO THE VICTORS!

Fish Appreciator posted:

I don't think y'all understand. Crypto adoption IS inevitable.

Source: vibes.

https://twitter.com/SadiqoJN/status/1070995854272675840?s=20&t=sXKnXH2GqFULdOuG96KiXQ

# ? Feb 9, 2023 16:04

Lazyfire: Feb 4, 2006; God saves. Satan Invests

I read the PirateWires substack article (linked in the Tweet below) and completely missed the highlighted bit at the time:

https://twitter.com/Cryptadamist/status/1623512013103038466

It's worth reading the article, by the way. It's written by a crypto guy who is extremely Not Mad about the recent non-regulatory actions from regulatory bodies that have been hitting a bunch of the banks exchanges have been using to get customer dollars into and (sometimes) out of the exchanges. His basic argument is that by providing the banking and financial industry guidance on how to approach crypto the government is effectively walling off crypto from real world money. It needs to be understood that this is the worst possible situation for Crypto People. They desperately want regulations because those provide legitimacy and rules and would make it much easier for them to integrate into regular financial markets. The other outcome they would have been good with was the government continued to have a hands off approach to crypto. That would let them keep scamming retail people and continue building in-roads to real-world financial institutions who are not willing to jump into non-regulated markets, but will gladly partner with firms already in the space.

The Biden administration deciding to steer banks and firms away from engaging on Crypto is a possible death blow for these exchanges. BTC and other crypto aren't usable as currency, their entire value is based on the idea that someday you'll be able to turn it into real dollars. Tether was supposed to be the way to do that simply, but their policies basically make it impossible to pull money out at retail levels, so having Signature and Silvergate providing the in/out to exchanges made things run. Tether just became the way exchanges upped trade volume and occasionally cashed out (because Tether would still let the institutions burn tokens). If you cut crypto off from the US banking system for long enough the exchanges will eventually come to a halt. What would be the point of buying any crypto if you can't turn it into money? I think the only reason the price seems to be pumping right now is a lot of wash trading and because of the limits on withdrawing real money from the system the price is not deflating they way it probably should.

# ? Feb 9, 2023 16:06

kw0134: Apr 19, 2003; I buy feet pics🍆

The bounce in crypto corresponds well with the similarly timed bounce in equities. If anything, it probably would be bouncing higher but for the lack of inflows by retail suckers given the very public implosion of FTX.

At the point where crypto actually moves independent of the NASDAQ Composite, we'll see some poo poo, I think. But this is an irrational market being manipulated by irrational and greedy people so who the gently caress knows.

# ? Feb 9, 2023 16:25

zedprime: Jun 9, 2007; yospos

Disruption was a side effect of distributed infotech coming to roost in business and government. Because everyone involved in the application of distributed infotech to business and government got rich as gently caress, people with a poor grasp on correlation and causation think disruption is obviously the best business goal to aspire to.

# ? Feb 9, 2023 16:43

Durzel: Nov 15, 2005

Lazyfire posted:

I read the PirateWires substack article (linked in the Tweet below) and completely missed the highlighted bit at the time:

https://twitter.com/Cryptadamist/status/1623512013103038466

It's worth reading the article, by the way. It's written by a crypto guy who is extremely Not Mad about the recent non-regulatory actions from regulatory bodies that have been hitting a bunch of the banks exchanges have been using to get customer dollars into and (sometimes) out of the exchanges. His basic argument is that by providing the banking and financial industry guidance on how to approach crypto the government is effectively walling off crypto from real world money. It needs to be understood that this is the worst possible situation for Crypto People. They desperately want regulations because those provide legitimacy and rules and would make it much easier for them to integrate into regular financial markets. The other outcome they would have been good with was the government continued to have a hands off approach to crypto. That would let them keep scamming retail people and continue building in-roads to real-world financial institutions who are not willing to jump into non-regulated markets, but will gladly partner with firms already in the space.

The Biden administration deciding to steer banks and firms away from engaging on Crypto is a possible death blow for these exchanges. BTC and other crypto aren't usable as currency, their entire value is based on the idea that someday you'll be able to turn it into real dollars. Tether was supposed to be the way to do that simply, but their policies basically make it impossible to pull money out at retail levels, so having Signature and Silvergate providing the in/out to exchanges made things run. Tether just became the way exchanges upped trade volume and occasionally cashed out (because Tether would still let the institutions burn tokens). If you cut crypto off from the US banking system for long enough the exchanges will eventually come to a halt. What would be the point of buying any crypto if you can't turn it into money? I think the only reason the price seems to be pumping right now is a lot of wash trading and because of the limits on withdrawing real money from the system the price is not deflating they way it probably should.

"The industry had a fall-blown credit crisis in 2022, with virtually every lender going bankrupt, but the damage was contained"

:confused:

# ? Feb 9, 2023 18:19

Ups_rail: Dec 8, 2006; by Fluffdaddy

Lazyfire posted:

I read the PirateWires substack article (linked in the Tweet below) and completely missed the highlighted bit at the time:

https://twitter.com/Cryptadamist/status/1623512013103038466

It's worth reading the article, by the way. It's written by a crypto guy who is extremely Not Mad about the recent non-regulatory actions from regulatory bodies that have been hitting a bunch of the banks exchanges have been using to get customer dollars into and (sometimes) out of the exchanges. His basic argument is that by providing the banking and financial industry guidance on how to approach crypto the government is effectively walling off crypto from real world money. It needs to be understood that this is the worst possible situation for Crypto People. They desperately want regulations because those provide legitimacy and rules and would make it much easier for them to integrate into regular financial markets. The other outcome they would have been good with was the government continued to have a hands off approach to crypto. That would let them keep scamming retail people and continue building in-roads to real-world financial institutions who are not willing to jump into non-regulated markets, but will gladly partner with firms already in the space.

The Biden administration deciding to steer banks and firms away from engaging on Crypto is a possible death blow for these exchanges. BTC and other crypto aren't usable as currency, their entire value is based on the idea that someday you'll be able to turn it into real dollars. Tether was supposed to be the way to do that simply, but their policies basically make it impossible to pull money out at retail levels, so having Signature and Silvergate providing the in/out to exchanges made things run. Tether just became the way exchanges upped trade volume and occasionally cashed out (because Tether would still let the institutions burn tokens). If you cut crypto off from the US banking system for long enough the exchanges will eventually come to a halt. What would be the point of buying any crypto if you can't turn it into money? I think the only reason the price seems to be pumping right now is a lot of wash trading and because of the limits on withdrawing real money from the system the price is not deflating they way it probably should.

Thanks thats an interesting read.

I guess I m not smart enough.

If I wanted to be a crypto king, I would have a bank, that has access to the ACH check system and the FDIC, Fed over sight. A small rural bank would be fine.

I would then wall the gently caress out of the bank I would put people in charge with the mission statement of "your a bank you deal in fiat you have trust account for exchange customers"

Then have the trading platform and just match buy and sell orders.

# ? Feb 9, 2023 19:35

Lazyfire: Feb 4, 2006; God saves. Satan Invests

Ups_rail posted:

Thanks thats an interesting read.

I guess I m not smart enough.

If I wanted to be a crypto king, I would have a bank, that has access to the ACH check system and the FDIC, Fed over sight. A small rural bank would be fine.

I would then wall the gently caress out of the bank I would put people in charge with the mission statement of "your a bank you deal in fiat you have trust account for exchange customers"

Then have the trading platform and just match buy and sell orders.

No one has figured out what FTX was doing with Moonstone, besides potentially trying to money launder using an obscure bank that they helped get SWIFT access in incredibly short time.

Durzel posted:

"The industry had a fall-blown credit crisis in 2022, with virtually every lender going bankrupt, but the damage was contained"

The crypto argument for why they should be tied further into financial stuff is that the impact to the Real World was minimal, despite multiple companies/ponzi schemes falling to pieces in under a year. Of course, this is used to justify letting crypto further into normal financial instruments and institutions for...reasons? There's not a solid argument for why it would be a good idea to expose even more people to the next huge ponzi that collapses. It's most likely why he immediately abandons that point and keeps moving on to complain the government can't do this while conveniently forgetting that crypto was supposed to get people away from needing regular financial stuff.

# ? Feb 9, 2023 21:28

shame on an IGA: Apr 8, 2005

legalized sports betting was the death blow to crypto, all those money cops that spent the last 20 years separating online bookmakers and poker sites from the financial system gotta find something else to do now, and they have :allears:

# ? Feb 9, 2023 22:25

Ups_rail: Dec 8, 2006; by Fluffdaddy

Lazyfire posted:

No one has figured out what FTX was doing with Moonstone, besides potentially trying to money launder using an obscure bank that they helped get SWIFT access in incredibly short time.

The crypto argument for why they should be tied further into financial stuff is that the impact to the Real World was minimal, despite multiple companies/ponzi schemes falling to pieces in under a year. Of course, this is used to justify letting crypto further into normal financial instruments and institutions for...reasons? There's not a solid argument for why it would be a good idea to expose even more people to the next huge ponzi that collapses. It's most likely why he immediately abandons that point and keeps moving on to complain the government can't do this while conveniently forgetting that crypto was supposed to get people away from needing regular financial stuff.

What you mean i should be able to walk into chase and have a roth ira in crypto

# ? Feb 9, 2023 22:30

coolusername: Aug 23, 2011; cooltitletext

�Sam? Are you there?!� The bizarre and brutal final hours of FTX

Long article but great.

# ? Feb 9, 2023 22:31

thekeeshman: Feb 21, 2007

coolusername posted:

�Sam? Are you there?!� The bizarre and brutal final hours of FTX

Long article but great.

https://archive.md/HCgbH

Here's the un-paywalled article.

# ? Feb 9, 2023 22:41

Mozi: Apr 4, 2004; Forms change so fast
Time is moving past
Memory is smoke
Gonna get wider when I die; Nap Ghost

quote:

Lawyers for Wang and Singh declined to comment. Ellison�s attorney did not respond to requests for comment.

let's see what strategy SBF decides to take here... the answer may shock you!

# ? Feb 9, 2023 23:03

drk: Jan 16, 2005

SEC has shut down Kraken's staking program: https://www.sec.gov/news/press-release/2023-25

Their logic is pretty straightforward - if you are paying someone interest on an asset, you've got yourself a securities offering.

Despite what the howling mad bros have to say about it, this doesnt actually mean running these sort of crypto staking programs is illegal. You just have to register them and provide disclosures, etc.

Of course no crypto company is going to do this. The SEC had this to say on what information Kraken did not provide their staking investors:

quote:

Missing material information includes, but is not limited to, the business and financial condition of Defendants, the fees charged by Defendants, the extent of Defendants� profits, and specific and detailed risks of the investment, including how Defendants determine to stake investor tokens or purportedly hold them in reserve and the extent of these purported liquidity reserves, or whether tokens are put to some other use

# ? Feb 10, 2023 00:06

ploots: Mar 19, 2010

Mooseontheloose posted:

I guess killing your opponents until they die of laughter is a type of strategy.

It worked for eddie valiant

# ? Feb 10, 2023 00:10

LifeSunDeath: Jan 4, 2007; still gay rights and smoke weed every day

# ? Feb 10, 2023 00:40

CaptainSarcastic: Jul 6, 2013

I guess I've been hoping for crypto to go out with a bang, but I've decided I'm okay with it going out with a whimper, too.

# ? Feb 10, 2023 00:42

drk: Jan 16, 2005

Crypto hedge fund exploder and totally not on the run fugitive, Zhu Su, is back with a new exchange!

His great idea is to start an exchange for trading the bad debt from his own previous firm (and other recently demised crypto firms).

His new business partner is a guy who's most notable accomplishment is being defrauded by Bitcoin Jesus Roger Ver

https://twitter.com/zhusu/status/1623734703596486658

# ? Feb 10, 2023 00:44

ruddiger: Jun 3, 2004

LifeSunDeath posted:

It owns that this pic was seemingly taken at a pokemon convention

# ? Feb 10, 2023 00:58

Boxturret: Oct 3, 2013; Don't ask me about Sonic the Hedgehog diaper fetish

CaptainSarcastic posted:

I guess I've been hoping for crypto to go out with a bang, but I've decided I'm okay with it going out with a whimper, too.

hey there have been plenty of bangs, and statistically more hammer based murders than the average

# ? Feb 10, 2023 01:15

shame on an IGA: Apr 8, 2005

drk posted:

SEC has shut down Kraken's staking program: https://www.sec.gov/news/press-release/2023-25

Their logic is pretty straightforward - if you are paying someone interest on an asset, you've got yourself a securities offering.

Despite what the howling mad bros have to say about it, this doesnt actually mean running these sort of crypto staking programs is illegal. You just have to register them and provide disclosures, etc.

Of course no crypto company is going to do this. The SEC had this to say on what information Kraken did not provide their staking investors:

keeping the Howey Test dead nuts simple is one of the best decisions the supreme court ever made

# ? Feb 10, 2023 01:27

Lazyfire: Feb 4, 2006; God saves. Satan Invests

drk posted:

Crypto hedge fund exploder and totally not on the run fugitive, Zhu Su, is back with a new exchange!

His great idea is to start an exchange for trading the bad debt from his own previous firm (and other recently demised crypto firms).

His new business partner is a guy who's most notable accomplishment is being defrauded by Bitcoin Jesus Roger Ver

https://twitter.com/zhusu/status/1623734703596486658

Isn't selling FTX debt Justin Sun's new idea? It's amazing that they turned these customer debts into a token when debt collection and loan trading exist in the normal financial system.

# ? Feb 10, 2023 01:41

repiv: Aug 13, 2009

Neito posted:

https://twitter.com/web3isgreat/status/1623501029881831424

Love to see it happen. There's three of those dumbass things within a few minutes walk of me.

https://twitter.com/web3isgreat/status/1623838653720952834

# ? Feb 10, 2023 01:51

notwithoutmyanus: Mar 17, 2009

CaptainSarcastic posted:

I guess I've been hoping for crypto to go out with a bang, but I've decided I'm okay with it going out with a whimper, too.

I'll accept any method that ends crypto at this point, and it would be well deserved. The world and economy would be better off.

The irony behind 90% of this poo poo, is if they actually consulted with lawyers I'm sure the lawyers would have said "HELL NO"/ :fuckoff:

or "these are the requirements to do (the thing you want to do)". Why is this so hard? Especially when you have millions of dollars, isn't this the logical thing to do to protect (millions of dollars)? These would be reasonable/functional responses for people who harbor brains capable of executive function.

Instead crypto seems to be like "I can handwave away the legal concerns, and if I can't I'll just handwave harder".

I never knew any of this poo poo was this ugly back when I was poop touching, because all I looked at was basically prices and hype and never knew just how far down the rabbit hole goes, and wow, it is far worse than just "the financial sector"

# ? Feb 10, 2023 04:15

Dead Nerve: Mar 27, 2007

It was nice cracking open a fortune cookie and seeing an old classic visa credit card being advertised rather then FTX.

# ? Feb 10, 2023 05:33

Zil: Jun 4, 2011; Satanically Summoned Citrus

# ? Feb 10, 2023 08:11

Golden Bee: Dec 24, 2009; I came here to chew bubblegum and quote 'They Live', and I'm... at an impasse.

PurpleXVI posted:

Oh, yeah, I'm not contesting this, hell, just take stuff like Bandcamp that definitely disrupted a traditional music industry by letting anyone publish their music and reap like 90% of the profits rather than needing to negotiate with a studio/label and then get maybe a mere 5%.

But that disruption was a side effect of a better business plan that worked better for the consumer and gave them actual benefits, forcing the old guard to play catch-up with the new reality. These days it feels like a lot of new businesses are pitching themselves like disruption is the main purpose. Like the first line isn't "this thing we're doing is gonna own because it's gonna make things better/easier/cheaper/cooler for people!" it's "this thing is gonna own because it's gonna DISRUPT things, old man!" And I'm baffled that there are idiots who see that as inherently good, like anything's great if it's upsetting stuff.

If that makes sense.

I tried to go to a business networking event and walked out when they got to the slide about how you can come to them, and step one is �come up with a good idea for a business .� They don�t need a good idea, they need fresh people they can march up to Sand Hill with their hands out.

# ? Feb 10, 2023 08:48

Elden Lord Godfrey: Mar 4, 2022

PurpleXVI posted:

Oh, yeah, I'm not contesting this, hell, just take stuff like Bandcamp that definitely disrupted a traditional music industry by letting anyone publish their music and reap like 90% of the profits rather than needing to negotiate with a studio/label and then get maybe a mere 5%.

But that disruption was a side effect of a better business plan that worked better for the consumer and gave them actual benefits, forcing the old guard to play catch-up with the new reality. These days it feels like a lot of new businesses are pitching themselves like disruption is the main purpose. Like the first line isn't "this thing we're doing is gonna own because it's gonna make things better/easier/cheaper/cooler for people!" it's "this thing is gonna own because it's gonna DISRUPT things, old man!" And I'm baffled that there are idiots who see that as inherently good, like anything's great if it's upsetting stuff.

If that makes sense.

when this happens the actual market usually isnt the general public, but the dumbass investors who read the magic words and start dumping their money into it hth

# ? Feb 10, 2023 11:28

Salt Fish: Sep 11, 2003; Cybernetic Crumb

quote:

Yuga Labs released an endless runner game called "Dookey Dash" (really) where players compete to see how long they can keep their character navigating through a sewer pipe without crashing. Access to the game is granted through "Sewer Pass" NFTs, which can be claimed by people who own Bored Apes or Mutant Apes, but which were also trading on the secondary market for around 3.1 ETH ($5,100).
Yuga Labs has said that, following the end of the three-week-long game tournament, the Sewer Passes with non-zero scores in the game will transform into something new, with the idea that higher scorers may receive more valuable NFTs.

This, of course, incentivized users to try to cheat in the game by creating bots, changing the browser-based game code to eliminate obstacles, or access game seeds that allowed them to predict the layout of a course run. Sewer Pass holders began paying others to play their game for them � either more skilled players, or players who were using these tools. Some were charging up to 2.5 ETH (~$4,200) to obtain scores of 700,000 or more for those who hired them.

Yuga Labs has promised to review gameplay to ensure that those who cheated are disqualified. They've also warned people buying Sewer Passes after gameplay ended that if they buy a pass that is determined to have cheated, it will be worthless. Some are skeptical of Yuga's ability to accurately detect cheaters, and others have expressed concern over false positives in the game's cheat detection that appeared to be caused by slower Internet connections.

https://web3isgoinggreat.com/

# ? Feb 11, 2023 01:19

Ups_rail: Dec 8, 2006; by Fluffdaddy

Salt Fish posted:

https://web3isgoinggreat.com/

what the gently caress is this?

I m having flash back to something windows live did where you could play a game earn points and some dude litterally used his windows club live points to order all the zune ear buds

# ? Feb 11, 2023 01:39

gay picnic defence: Oct 5, 2009; I'M CONCERNED ABOUT A NUMBER OF THINGS

PurpleXVI posted:

I wonder when "disruption" became an inherently good thing to some people. I mean I could "disrupt" a social function by walking into the middle of it and taking a dirty great poo poo on the carpet, that'll definitely upset the current mechanics and force the adoption of a new one(perhaps someone watching the door and holding the function away from the nice rugs), but it's not really going to improve the amount of fun or productivity anyone's having. Half the time, "disrupting" an industry just means "forcing everyone to adopt new rules that'll prevent you pulling this bullshit again that was a obviously a terrible idea to everyone but you, and therefore no one had thought it needed to be explicitly forbidden or to have a dedicated agency preventing people from doing it."

As others have mentioned, successful disruption in the business sense is likely to be hugely financially rewarding for the people who manage to pull it off. Because of that's it's become a bit of a buzzword for people spruiking their startups. No one is going to pump money into a business that promises to do more or less what everyone else is doing. Venture capital wants a slice of something that promises to completely upend an entire market or industry and leave them with the first mover advantage and a huge market share when the dust settles.

Whether or not it's good or not really depends on the innovation. Digital cameras are pretty cool, Facebook and Twitter not so much. E-commerce is good in many ways but it's done a number on a lot of small retail operations.

Crypto people like to claim it's a disruptive innovation but since we still use fiat for pretty much everything I'm not sure they've actually caused that much disruption.

# ? Feb 11, 2023 09:48

kirbysuperstar: Nov 11, 2012; Let the fools who stand before us be destroyed by the power you and I possess.

Ups_rail posted:

what the gently caress is this?

I m having flash back to something windows live did where you could play a game earn points and some dude litterally used his windows club live points to order all the zune ear buds

People wrote bots to amass points and MS didn't do as much as they maybe should have to prevent it, but a few friends got Zunes out of it lmao

# ? Feb 11, 2023 10:00

Kerbtree: Sep 8, 2008; BAD FALCON!
LAZY!

If you want a good example of �disrupting� something that�s just a company shouldering it�s way into a cash flow without adding anything, you want what3words: https://www.youtube.com/watch?v=4PPRh9ZunmI It�s 99.9% pointless, given that gps coordinates exist and unlike the words they use for location tagging, numbers can�t be be easily mangled into sounding the same by accents
https://www.youtube.com/watch?v=Esl_wOQDUeE
or someone�s native language doing vowels or consonants differently
https://www.youtube.com/watch?v=7mdoPimyYvY
without expecting everyone on Earth to be able to read the International Phonetic Alphabet.

# ? Feb 11, 2023 12:04

ultrafilter: Aug 23, 2007; It's okay if you have any questions.

gay picnic defence posted:

Venture capital wants a slice of something that promises to completely upend an entire market or industry and leave them with the first mover advantage and a huge market share when the dust settles.

More importantly, VC firms don't make a lot of money unless they back firms that do something like this. That's where a lot of the pressure comes from.

# ? Feb 11, 2023 16:19

Adbot: ADBOT LOVES YOU

# ? Jun 4, 2024 01:54

Neito: Feb 18, 2009; 😌Finally, an avatar the describes my love of tech❤️‍💻, my love of anime💖🎎, and why I'll never see a real girl 🙆‍♀️naked😭.

ruddiger posted:

It owns that this pic was seemingly taken at a pokemon convention

Nah that's just any con with a dealer's room. I've seen that case (likely that exact one, if this was on the east coast) dozens of times. Just out of frame are the MTG and Yu Gi Oh cases; on the other side of the booth is the $150 Pokemon Yellow and poorly modded GBA with a backlight.

Ups_rail posted:

what the gently caress is this?

I m having flash back to something windows live did where you could play a game earn points and some dude litterally used his windows club live points to order all the zune ear buds

IIRC that was Bing, which still has a points thing that's botted, but the point value sucks poo poo.

# ? Feb 11, 2023 23:26

The Something Awful Forums > Main > General Bullshit > Bitcoin: no angel investors, only Faustian bargains

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