You recommend not boasting about ties to crypto insiders. I haven’t seen this happen except with SBF, where I think the boasting was along the lines of “look how well this person earning to give paid off”. I agree that people should do less of that in the future.
Might I introduce you to the post announcing an EA funds spinoff website called “effectivecrypto.org″, where the authors openly state:
There is already a fair amount of overlap between the crypto community and EA (cf. Sam Bankman-Fried/FTX, Lantern Ventures, etc.
The website has since been deleted, but if you look at the archived version, you can see a big splash banner of SBF himself endorsing the project. In the “learn more” page, you then see another big post tying crypto to EA:
Effective Crypto is a project of Effective Altruism Funds, a donation platform for maximising the impact of your donations. Since 2017, Effective Altruism Funds has moved nearly $80 million (including over $17 million worth of crypto) to organizations and researchers working on the world’s most pressing problems. Meet the EA Funds team.
They then uncritically repeat speculation that bitcoin will hit $200k (whoops). At no point in the website, or in the announcement post, did anybody mention that crypto was in the middle of a massive speculative bubble due to crash any minute.
(edit:)Theres also a direct quote from the Q&A section:
Institutional experience – we’ve been accepting crypto donations since 2017, and have strong ties to the crypto community.
So I think that settles that point.
EA and SBF were undeniably affiliated. The ties between CEA leadership and SBF have been documented extensively, and used to beat the movement over the head with in pretty much every major newspaper of note. I mean, just look at the FTX foundation website, with the effective altruism logo prominently featured as “grantee and partners”.
I mean, I guess my main point of note is: Don’t do it again? I’m sure there will be a period of caution for the next while, but if another crypto bubble forms, I expect there will be a temptation to exploit the speculative mania by affiliating with another crypto firm, with predictable results.
The other main point is: Stop pretending crypto isn’t in a speculative bubble. It is, and will remain so until an actual use-case exists that generates revenue commensurate with the ridiculous market cap. (or if the field collapses enough to be sustainable by the few niche applications that do exist).
If EA sacrifices it’s reputation to chase after unregulated crypto money, theres a very good chance it will be left with nothing, if, as I suspect, crypto eventually fizzles out completely, and ends up just a niche hobby thing. Whereas a reputation for responsibility and caution will actually pay off long term. And even if they do find the mysterious crypto application that makes it a genuine hit, you can always get involved with it then. You’re not missing out on all the future crypto money, all you’re missing out on is the current speculative mania.
Might I introduce you to the post announcing an EA funds spinoff website called “effectivecrypto.org″, where the authors openly state:
The website has since been deleted, but if you look at the archived version, you can see a big splash banner of SBF himself endorsing the project. In the “learn more” page, you then see another big post tying crypto to EA:
They then uncritically repeat speculation that bitcoin will hit $200k (whoops). At no point in the website, or in the announcement post, did anybody mention that crypto was in the middle of a massive speculative bubble due to crash any minute.
(edit:)Theres also a direct quote from the Q&A section:
So I think that settles that point.
EA and SBF were undeniably affiliated. The ties between CEA leadership and SBF have been documented extensively, and used to beat the movement over the head with in pretty much every major newspaper of note. I mean, just look at the FTX foundation website, with the effective altruism logo prominently featured as “grantee and partners”.
I mean, I guess my main point of note is: Don’t do it again? I’m sure there will be a period of caution for the next while, but if another crypto bubble forms, I expect there will be a temptation to exploit the speculative mania by affiliating with another crypto firm, with predictable results.
The other main point is: Stop pretending crypto isn’t in a speculative bubble. It is, and will remain so until an actual use-case exists that generates revenue commensurate with the ridiculous market cap. (or if the field collapses enough to be sustainable by the few niche applications that do exist).
If EA sacrifices it’s reputation to chase after unregulated crypto money, theres a very good chance it will be left with nothing, if, as I suspect, crypto eventually fizzles out completely, and ends up just a niche hobby thing. Whereas a reputation for responsibility and caution will actually pay off long term. And even if they do find the mysterious crypto application that makes it a genuine hit, you can always get involved with it then. You’re not missing out on all the future crypto money, all you’re missing out on is the current speculative mania.