xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
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xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11The only way
Technology isn't always directly translate to what we desire it to become. For example, we wish social media to become a place to keep in touch of others but it created another whole new level of distrust and misinformation that spread like a Pandemic. Be careful of your wishes! Like AI we think they can bring up a new level of the game in the creative industry and possibly to replace writers like you and me, but can they? It seems they are very powerful to execute what we want them to, ...
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The problem in crypto is lying.
People lie about everything, and there is no way to check because they can hide their lies from the general public until the blockchain proves they are lying.
FTX gave a lesson in crypto that no one can be trusted.
The former CEO of SBF portrayed him as a centralized system post-child to save the crypto from collapsing.
He got the best parents with prestige positions and connections within the system and can provide many resources that others cannot.
Yet, they have to give resources again to SBF, who breaks both the traditional and later cryptosystem.
It again shows the current system is not working as it supposes to design and smart people like SBF can drift away of their wrong doing and claim his innocent until everything they built collapsed.
Crypto is not FTX but FTX has been portrayed as a crypto product to lure everyone to believe the future is on FTX hands to create a utopia which turns out to be a dystopian society.
Everything SBF touches will become toxic.
What have we learned so far after the creation of crypto?!
Such FTX Ponzi scheme has been suggested every time until it collapsed, and people continue chasing new Ponzi that yet haven't proven to be the one.
Crypto was supposed to prevent the one thing that the traditional system has failed, yet it became another system that we wanted to avoid.
How ironic is that?!
We need deeper thinking about what future crypto can drive us into, or the crypto is just mimicking the existing system with all hype...
It was a disappointing 2022 and likely 2023...
Photo by Kristina Flour on Unsplash
The problem in crypto is lying.
People lie about everything, and there is no way to check because they can hide their lies from the general public until the blockchain proves they are lying.
FTX gave a lesson in crypto that no one can be trusted.
The former CEO of SBF portrayed him as a centralized system post-child to save the crypto from collapsing.
He got the best parents with prestige positions and connections within the system and can provide many resources that others cannot.
Yet, they have to give resources again to SBF, who breaks both the traditional and later cryptosystem.
It again shows the current system is not working as it supposes to design and smart people like SBF can drift away of their wrong doing and claim his innocent until everything they built collapsed.
Crypto is not FTX but FTX has been portrayed as a crypto product to lure everyone to believe the future is on FTX hands to create a utopia which turns out to be a dystopian society.
Everything SBF touches will become toxic.
What have we learned so far after the creation of crypto?!
Such FTX Ponzi scheme has been suggested every time until it collapsed, and people continue chasing new Ponzi that yet haven't proven to be the one.
Crypto was supposed to prevent the one thing that the traditional system has failed, yet it became another system that we wanted to avoid.
How ironic is that?!
We need deeper thinking about what future crypto can drive us into, or the crypto is just mimicking the existing system with all hype...
It was a disappointing 2022 and likely 2023...
Photo by Kristina Flour on Unsplash
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