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High Risk, Low Reward tonygiorgio.com/high-risk-low-reward/

21.9k sats \ 17 comments \ @TonyGiorgio 22 Nov bitcoin

329 sats \ 0 replies \ @nullcount 22 Nov

This is what happens when you try to profit off a p2p system that kills middlemen.

Most sustainable "Bitcoin Business" are either a Fiat/state tentacle (exchanges/banks/compliance/information brokers/narrative shapers/media,etc.), and/or they are able to "exploit" a flaw/deficiency in the protocol by inserting themselves as middlemen (coinjoin coordinators/custodians/LSPs)

Every profit extracting vehicle that leeches on Bitcoin -- either by profiting off it's flaws, or bringing it closer to nationstate capture (the network as a whole will suffer).

Don't overcomplicate it... Stay humble. Stack sats. That urge you have to give back is natural. Give freely your time, energy, and value (not-for-profit), and we'll all get insanely wealthy together.

Less "Bitcoin Businesses", more "Business using Bitcoin".

Never forget, it was the Internet Businesses that slowly captured and degraded the soverignty of the Email protocol.

245 sats \ 0 replies \ @BlokchainB 22 Nov

Thanks for sharing and knowing your limits. I am glad you are taking better care of yourself and hitting the gym. Bitcoin be damned nothing is more important than taking care of yourself.

I appreciate all that you have done in the space and wish you success.

120 sats \ 0 replies \ @IamSINGLE 23 Nov

The best is best when you're at rest. Why don't you just cut off for a very long holiday. I don't know your work allows it or not but things seem to be getting more complicated with more work. Take a chil pill 💊 and try to enjoy.

130 sats \ 0 replies \ @siggy47 22 Nov

Thanks for posting this. Being self aware is something we can all benefit from. I look forward to following the progress in your new projects.

26 sats \ 0 replies \ @standardcrypto 22 Nov

Great memoir.

Can't quit the black pill till you've faced it.

114 sats \ 0 replies \ @ek 22 Nov

Thanks for sharing your thoughts. I want to say that even if I don’t share your conclusions now or in the past (yet?), you certainly have my utmost respect for following your own path and doing what you believe is right. I hope both changes—hitting the gym and the pivot—work out for you.

10 sats \ 0 replies \ @Golu 23 Nov

Great post. I'm also in the business and it seems all type of businesses have the same chaos. I'm in logistics and so very often I'm involved in multiple tasks at a time. I know it can get real ugly often. Just take care man, give yourself more attention.

1000 sats \ 1 reply \ @_b_o_n_e_s_ 23 Nov

@TonyGiorgio appreciate you brother

thanks for sharing and hope you're going ok now shout out all the mums 🙌 sounds like she helped shift something for you mentally , so great

ive always loved your takes on lightning privacy and loved mutiny and what it stands for, want to give you props for what you've done

like i think you should be stoked because at least you went out on your own and did it. so many people don't have the courage to ever take that step and what chews them up internally is never taking it and never knowing - you took it, you started something. and sure its a massive headfuck but you stepped out into the unknown - more power to you!

this is the one part i didn't get and I disagree with

My efforts in this space are technically challenging/impressive yet unnecessary and don't matter.

i hope you feel differnet about it now

anyways bit of a ramble - all the best ✌

225 sats \ 0 replies \ @TonyGiorgio OP 23 Nov

Appreciate the kind words. I think you're especially right in the regards that I finally needed to do something instead of just being an employee at many bitcoin companies for many years.

My efforts in this space are technically challenging/impressive yet unnecessary and don't matter.

With this comment, I just meant that I did a lot of hard unique things, but in the end it didn't really matter, especially from the aspect of shutting the wallet down after a relatively short lifetime for a wallet. I think the talks and insights may have made a bigger longstanding overall impact, but again, lightning privacy is still pretty laughable and not much has changed since the article I published many years ago.

100 sats \ 0 replies \ @plebpoet 22 Nov

A lot of my life has been devoted to money, and that's one of the worst things in the world to allow yourself to be consumed by.

Paying attention to the lessons you learned and appreciate your willingness to share them.

100 sats \ 0 replies \ @TheWildHustle 22 Nov

Wow.

Thanks for your contributions man, gone but not forgotten.

Looking forward to OpenSecret and Maple.

0 sats \ 0 replies \ @anon 23 Nov

@TonyGiorgio, join us for a circlejerk in the @saloon low risk, high reward

0 sats \ 0 replies \ @cryotosensei 23 Nov

I think no effort is ever wasted, so while 10 years on paper seems like a long time, the fact that you endured so much through this journey will make your learning takeaways sink into your psyche and become part of your armour.

Onward and upward

0 sats \ 1 reply \ @thecommoner 22 Nov

Just remember that the path which you walk is your own and while yours will cross those of others....you do not have to follow them.

0 sats \ 0 replies \ @thecommoner 22 Nov

And for what it's worth....

My family motto is:

If you want something done right....do it a second time!

0 sats \ 0 replies \ @sangekrypto 22 Nov

Bitcoin never dies, even if one day the price goes down it will definitely go up, even if it goes up everyone will definitely be happy and happy, to this day everyone continues to hunt bitcoin hunters, for those who already understand about bitcoin, of course there are risks, including profit or loss.

0 sats \ 0 replies \ @aS7017ur5 22 Nov

Yes, it sucks.