A Last-Ditch Plan to Save the Crypto Industry \ stacker news ~BooksAndArticles

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A Last-Ditch Plan to Save the Crypto Industry www.wired.com/story/a-last-ditch-plan-to-save-the-crypto-industry/

72 sats \ 5 comments \ @0xbitcoiner 26 Jan BooksAndArticles

In his new book Read Write Own, investor Chris Dixon mounts a defense of blockchain, arguing it can save society from the monopoly power of tech giants.

A survey of headlines from the past couple of years in the cryptocurrency industry might lead anyone to believe that it is a deeply unserious business.

Hackers made off with billions of dollars, and scammers billions more. Regulators sued some of the largest crypto exchanges. High-profile businesses fell into bankruptcy. Crypto banks collapsed. Risky experimentation led to disaster. Founders were convicted of fraud. A Colorado pastor was even charged with perpetrating a million-dollar scam, so he claimed, at God’s instruction.

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42 sats \ 4 replies \ @nerd2ninja 26 Jan

Blockchain, the ledger technology underpinning cryptocurrencies, now looks untrustworthy by association

Yeah because its not about blockchain the knuckle heads. I wrote a post once about how shitcoins are a brand risk to any business that deals in them.

Enter Chris Dixon, lead crypto investor at Silicon Valley venture capital firm Andreessen Horowitz, or a16z, who asks the world to give blockchain another chance.

a16z is the biggest fucking scammer of them all. When I talk about VC's giving money to crypto companies to then make bank on exit liquidity upon launch, a16z is at the forefront of those scams.

I can only hope a16z's marketing is unsuccessful due to our pushback and that the public doesn't fall for his scams once again.

0 sats \ 3 replies \ @0xbitcoiner OP 26 Jan

You're giving me information that I didn't know.

Thank you

44 sats \ 2 replies \ @nerd2ninja 26 Jan freebie

"Web3 is the future of the internet — and a16z’s exit liquidity" https://protos.com/web3-is-the-future-of-the-internet-and-a16zs-exit-liquidity/

"IPOs and Beyond: A Guide to Exit Options for Companies" https://a16z.com/ipos-and-beyond-a-guide-to-exit-options-for-companies/

I'm actually going to do an archive link for that one just in case: https://archive.ph/vFw1s

"WeWork co-founder lines up $350 million A16Z investment for a new billion-dollar real estate venture" https://www.theverge.com/2022/8/15/23306197/wework-adam-neumann-andreesen-horowitz-flow-real-estate

There are several articles about the lesson we can learn from WeWork, if you don't like the article I'm about to share, go ahead and look for another one. They should all say the same thing. The lesson is about unsustainable growth with an exit being the only end goal:

"The failure of WeWork should teach us a thing or two about sustainable growth (it probably won’t)." https://medium.com/@simonrgwalker88/the-failure-of-wework-should-teach-us-a-thing-or-two-about-sustainable-growth-it-probably-wont-5a0a1d48a0d4

0 sats \ 1 reply \ @0xbitcoiner OP 26 Jan

Is that all? I don't reject anything, as a matter of principle. I like to read both sides of the fence and only then form my opinion. Once again, thank you for sharing, information is never too much, as long as it is true. I will definitely read it.

0 sats \ 0 replies \ @nerd2ninja 26 Jan

I don't doubt that there's more, but for me this was enough to demonstrate a clear intention with how a16z conducts its operations and their business plan for making profit.