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122 sats \ 3 replies \ @pauly 16 Dec \ on: Can a shitcoiner ever truly grow into a Bitcoiner? alter_native
I was a shitcoiner that worked in a couple defi projects, starting back in 2018. By 2019, Defi summer kicked off, and I was primed to go. I worked on one of the many ponzis, and was paid ~$4,000 a month to research other defi projects for our particular ponzi. I quit my full-time job for this. Ultimately, you stored your stables with us, and we invested in other ponzi's. We'd do the research and work to ensure we avoided the scams. My job was to find the scams, which meant dig into the team, their wallets, and read every technical document I could get my hands on. Then I'd write a report with necessary graphs and explain it to the dev team and community. For our project, there were 3 of us in the team doing this.
I learned a few things, and most of them kept bringing me back to two points.
- If it isn't PoW, it is easily captured by government or pressured to listen.
- If it has a central team or ownership, it will fail.
Over time, I eventually just cashed out and went to Bitcoin entirely. I still keep up to date with some of the newer tech (zero knowledge rollups stuff like that) out of sheer curiosity, but I'd never buy another token. I still have some of my old Avax stuff I need to cash out as I was on a vesting schedule during last bull, but I will turn that into bitcoin. The vast majority of these "projects" are worse than you can imagine.
Nobody in "crypto" reads the WP / Technical Documents. We had an active community of 30k, we released regular reports explaining our moves. Out of 30k members, we'd get 12 views. It's just marketing, buzzwords, and TradFi bro's dumping on gullible poor people.
The more you learn, the more all the roads point in one direction. Bitcoin.
I imagine more and more Energy companies will do this, creating competition for renewable energy and investing droves in the tech surrounding it. Seems like this is also good for power grids in cities, as it allows for higher available capacity. In case of an emergency, Miners could be shut off so the power (that wasn't available on the pre mine loads) could be diverted to homes, hospitals, or wherever.
Odd part is you can even set these miners up wherever makes the most sense. Could be right next to the Power Company, so the old power delivery system wouldn't even need to be used.
Pretty crazy stuff.
GENESIS