Some people really benefit from hearing advice that everyone knows, for the same reason we keep schools open despite every subject in them having been taught before.
In that spirit, here's some quick Things Many People Find Too Obvious To Have Told You Already.
Charge more. Charge more still. Go on.
We don't see most of it every day for the same reason abstractions protect us from having to care about metallurgy while programming.
Serious people in positions of power eat Thanksgiving dinners, too. Guess what they ask at them.
More from Patrick McKenzie
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.
More from Tech
🙂 Hey - have you heard of @RevolutApp Business before?
🌐 Great international transfer and 🏦 foreign #exchange rates, and various tools to manage your #business.
👉 https://t.co/dkuBrYrfMq
#banking #fintech #revolut #growth #startups
1/10
One place to manage all things business
Get more from your business account with powerful tools that give you total control over your finances.
👉 https://t.co/dkuBrYrfMq
2/10
Accept payments
online at great rates
Receive card payments from around the world with low fees and next-day settlement.
👉 https://t.co/dkuBrYrfMq
3/10
Send and receive international payments, with no hidden fees
Multi-currency accounts allow you to hold, exchange, send and receive funds in 28+ currencies - always at the real (interbank) exchange rate...
👉 https://t.co/dkuBrYrfMq
4/10
Optimise spend with smart company cards
Spend in over 150 currencies at the real (interbank) exchange rate
Stay in control – issue physical and virtual cards, track spending in real-time for your entire team...
👉 https://t.co/dkuBrYrfMq
5/10
🌐 Great international transfer and 🏦 foreign #exchange rates, and various tools to manage your #business.
👉 https://t.co/dkuBrYrfMq
#banking #fintech #revolut #growth #startups
1/10

One place to manage all things business
Get more from your business account with powerful tools that give you total control over your finances.
👉 https://t.co/dkuBrYrfMq
2/10

Accept payments
online at great rates
Receive card payments from around the world with low fees and next-day settlement.
👉 https://t.co/dkuBrYrfMq
3/10

Send and receive international payments, with no hidden fees
Multi-currency accounts allow you to hold, exchange, send and receive funds in 28+ currencies - always at the real (interbank) exchange rate...
👉 https://t.co/dkuBrYrfMq
4/10

Optimise spend with smart company cards
Spend in over 150 currencies at the real (interbank) exchange rate
Stay in control – issue physical and virtual cards, track spending in real-time for your entire team...
👉 https://t.co/dkuBrYrfMq
5/10

You May Also Like
Tip from the Monkey
Pangolins, September 2019 and PLA are the key to this mystery
Stay Tuned!
1. Yang
2. A jacobin capuchin dangling a flagellin pangolin on a javelin while playing a mandolin and strangling a mannequin on a paladin's palanquin, said Saladin
More to come tomorrow!
3. Yigang Tong
https://t.co/CYtqYorhzH
Archived: https://t.co/ncz5ruwE2W
4. YT Interview
Some bats & pangolins carry viruses related with SARS-CoV-2, found in SE Asia and in Yunnan, & the pangolins carrying SARS-CoV-2 related viruses were smuggled from SE Asia, so there is a possibility that SARS-CoV-2 were coming from
Pangolins, September 2019 and PLA are the key to this mystery
Stay Tuned!

1. Yang
Meet Yang Ruifu, CCP's biological weapons expert https://t.co/JjB9TLEO95 via @Gnews202064
— Billy Bostickson \U0001f3f4\U0001f441&\U0001f441 \U0001f193 (@BillyBostickson) October 11, 2020
Interesting expose of China's top bioweapons expert who oversaw fake pangolin research
Paper 1: https://t.co/TrXESKLYmJ
Paper 2:https://t.co/9LSJTNCn3l
Pangolinhttps://t.co/2FUAzWyOcv pic.twitter.com/I2QMXgnkBJ
2. A jacobin capuchin dangling a flagellin pangolin on a javelin while playing a mandolin and strangling a mannequin on a paladin's palanquin, said Saladin
More to come tomorrow!

3. Yigang Tong
https://t.co/CYtqYorhzH
Archived: https://t.co/ncz5ruwE2W

4. YT Interview
Some bats & pangolins carry viruses related with SARS-CoV-2, found in SE Asia and in Yunnan, & the pangolins carrying SARS-CoV-2 related viruses were smuggled from SE Asia, so there is a possibility that SARS-CoV-2 were coming from