One Facebook worker to me on Trump's indefinite suspension from the platform: "All it took was an armed insurrection of the cap building and two weeks left of his presidency."
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39.1% of Democrats think that it's wrong to negatively stereotype people based on their place of birth... AND that Southerners are more racist. https://t.co/yp1hviLuBB
65.2% of Republicans think that people shouldn't be so easily offended... AND that Black Lives Matter is offensive. https://t.co/znmVhqIaL8
64.6% of Democrats think that a woman has the right to do what she wants with her body... AND that selling organs should be illegal.
48.5% of Democrats think that a woman has the right to do what she wants with her body... AND that prostitution should be illegal.
57.9% of Republicans think that people should be free to express their opinions in the workplace... AND that athletes should not be allowed to sit or kneel during the national anthem. https://t.co/ds2ig1NJFr
Democrats: Men and women are equal in their talents and abilities. Also, women are superior. https://t.co/bEFSmqQguo
65.2% of Republicans think that people shouldn't be so easily offended... AND that Black Lives Matter is offensive. https://t.co/znmVhqIaL8
64.6% of Democrats think that a woman has the right to do what she wants with her body... AND that selling organs should be illegal.
48.5% of Democrats think that a woman has the right to do what she wants with her body... AND that prostitution should be illegal.
57.9% of Republicans think that people should be free to express their opinions in the workplace... AND that athletes should not be allowed to sit or kneel during the national anthem. https://t.co/ds2ig1NJFr
Democrats: Men and women are equal in their talents and abilities. Also, women are superior. https://t.co/bEFSmqQguo
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
