Don’t think they’re suggesting it’s not a big deal.
Any company losing 10 months of revenue overnight is a BIG fucking deal. Doubly so in a speculative asset that you’re holding for others “securely”. The financial hit has only just begun for them.
Thats been the fascinating part of crypto is watching society speedrun “best hits of financial crisis from history” by ignoring things we already solved.
Crypto is roughly agreeing that the current password rotation practices kinda suck and agreeing that the new way forward is just to have a single plain text file because you’re sure all that overhead was just nonsense
Seriously, they have professionalized attacks on crypto infra to a degree that whenever you hear about a massive heist, you can be pretty sure it's North Korea.
It's such a shame how few things in media have even attempted to carry the torch TNG lit. There's been enough written about how Trek itself wasn't, but I always hope something else takes up the mantle.
Closest i've seen is The Orville which I found best described as McFarlen using his money to pay for his Larping (in a good way), but was pretty much just copy pasting.
It was such a fascinating show and handled issues with a tact and nuance you're lucky to get today.
Curious if this finally pops tether. I kinda doubt it, but to my very mild research on the subject I feel like binance was a big part of the equation. Of course so long as the market exists it'll need a stable, and it's got the inertia, so maybe it just won't matter.
why would it pop tether? if anything, it makes tether more profitable, as they can collect the yield on the treasuries and not have to return the principal dollars which are frozen.
think of it this way - if someone steals your iphone, and you lock it, does apple pop? No, apple sells you another one. locked devices are good for apple because it causes more demand.
It's really hard to be an obvious fraud when you've been publishing attestations for years and now you have a "full independent audit" from KPMG for FY 2025, just like Circle/USDC.
Read up on the origins of tether, the people who founded it, deltic bank, banned for fraud in New York. In the beginning the reserves were a lie. I have no doubt they have some reserves now, but do they have $182 billiom USD, really?
CZ from Binance was also done for… fraud but miraculously pardoned by Donald Trump (I wonder why?!) and somehow still has enormous influence and inside knowledge in spite being banned from managing Binance. He talks as if he runs the company. Hmmm.
> I think there is a rise of "this is legal because we used a computer to do it.
This has literally been defining the modern age since the 2000's or earlier. Basically every law that ever existed about targeting ads towards children has been WILDLY ignored (to everyone's profit) because of it.
Look at all the anti CSAM laws... "hey, we'll scan all the mail you get and send, and well check all your photo frames in your houses, just in case you have pedo stuff there".
Or the different chat control laws... "well put a mic on you and listen to every conversation, just in case you talk about something illegal".
Then you have the people defending this with "ok, that might be bad, but metadata is just metadata"... sure, every time you go to a bar, we'll record when you came inside, who you sat with, and record how much you talked with each person there.
While i generally agree, some of this tech could be a major force multiplier and lower the barriers to entry.
Even if you have a great game idea, it takes a ton of time and money to even get it off the ground, let alone get it coded correctly and maybe get the reach you want. A LOT of flash in the pan ideas probably fizzled out faster than they needed (most recently Among Us and Fall Guys come to mind) because they were built to ship, not to easily modify.
Tech like this could lower the barrier to smaller and more creative teams or even individuals and get some better competition in the area. Fighting games KNEW that rollback was the way looooooong before AAA bit the bullet and started making it standard, and they still fuck it up (and it probably would've taken longer if COVID didn't force the issue and punish those lagging).
That said 2 of the largest hurdles i've seen in everyone's "magically ideal" game are enemy AI and Plot.
Interesting and well designed enemy AI is still hard, and even games that did it well built the whole game around it (FEAR) and the system is vastly less impressive without that focus (Just Cause). I don't think we're anywhere near modern AI solving the issue of making a good AI system for a game due to design space problems, but it might.
Plot though...that's tricky. Everyone always says how cool it would be for everything to be like Mass Effect or more, with all choices mattering and everything interacting, but someone has to write that. AI is not turning out well though out plot points that don't feel like the equivalent of Bethesda mission creep.
Point of this whole ramble being that in arcadey/simple stuff I think we'll see a lot more great games (and would argue we already were with the growth of the indie scene over the last 15 years thanks to steam and other tools), but there's still going to be entire genres that are just miserable to develop.
I agree. Game design is what makes a good game, not the programming. And I'm actually excited about game designers and artists being able to take their independent ideas and prototype games in a day/week/month/year/whatever.
+1 on fighting games, an interesting trend in that genre right now is that many of the latest titles (realistically everything other than SF6) are having trouble with player retention, while AI-assisted netcode updates for old titles like SF4 and Tekken 6 seem like more compelling products
Or, the lower barrier to entry crowds out the committed indie devs willing to invest years of their life honing their unique artistic vision for a game that might end up being a hit on Steam (among many other failures). The perceived odds of getting some recognition or even a moderately profitable hit go from "slim but possible" to "hopeless".
Because now their competition outnumbers them 1000 to 1, the competition isn't devs or artists but anyone with a phone, who can be from any part of the world who may not even speak the same language. Many to most of these solo "devs" aren't interested in games at all, and just hoping to rack up sales, ads, hype a crypto shitcoin launch or whatever. These slop games all have flashy attention grabbing visuals, slick product pages, five minute promo videos, with the games boasting 500+ hours of gameplay... of which 99% are recycled borderline unplayable trash.
The indie market for lemons stifles indie devs who struggle to find any audience, with modest dividends going to the most deceptive, scammiest solo sellers churning out 10+ titles per day (mostly 1:1 copycats of GTA/AAA games, psuedo-porn games, gambling games, meme/news cycle one-off games, etc). Middlemen like Steam print more money than ever as purchase volume increases while the indie gaming market becomes closer to the mobile games industry today.
The vast majority of the force multiplier value from AI is captured by the handful of AAA conglomerates who follow the tech monopoly strategy of maintaining market share by constant acquisitions and collectively control the most valuable IP while constantly reducing headcount thanks to models like Genie.
But who knows. It just seems like wishful thinking whenever I hear talk about how AI will empower the little guy to take on Goliaths considering the huge amounts of capital driving AI research and products are coming from those very same giants.
To be a bit difficult, depends on the 100 you ask. Yes yes statistical sampling, but I think my point here is more about how generations are trained growing up.
A lot of people dislike change and sure as shit hate relearning a skill they didn't enjoy or have aptitude in the first place. I know exactly what kind of UX my dad prefers and he HATES all modern design patterns. I think several of them are great for information density and despise everything twitter popularized. Entire generations have grown up on twitter and they think it's basically the only way to display information.
Point being when we're discussing as large a surface area as "software" I'm not really sure you're going to get much out of asking 100 people except what decade they were born in and what software/patterns they grew up on. Clearly some things can outcompete others, but inertia and network effects drive adoption, and can turn people from "ugh I hate this" to "ugh why would you do anything other than this".
> [Edit: note that the above video is "content" so if you're not used to the style it might be offputting but I'm into it]
I hate that it is because it makes me suspicious of every reaction. I happened to see the CD video on the clown wedding on the moon(sodium vapor maybe?) and so I at least have some grounding from this, but if I didn't I'd probably ignore most of this (as i ignored the thumbnail) because "literal industry defining tech" and "random temu mall ninja crap" has basically the same production pattern these days so why trust it?
I realize this is "old man yells at cloud" territory but it sucks that prostrating to the algorithm means all sincerity is lost because you have to ape Mr. Beast or whoever to get "engagement"
Edit-
And with that said, I'd say just jump to 23:40ish when the professional is talking if you're grumpy like me.
fortunately, if you're feeling grumpy, you can use one of their biggest sponsors to talk to a highly professional personal therapist with the ease of installing an app which is definitely not preying on people with mental health issues /s
Any company losing 10 months of revenue overnight is a BIG fucking deal. Doubly so in a speculative asset that you’re holding for others “securely”. The financial hit has only just begun for them.
That said yes the trading volume has huge.
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