Altman Raises $115 Million for Worldcoin Crypto Project - Slashdot

Posted by msmash

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  • Yes and no

    it doesn't get get flushed. Early adopters might get out before the collapse. And the folks in on the scheme will make a fortune. Heck, if they're really lucky they company will go public (if it hasn't already) and sell off it's stock to a public pension fund run by somebody's corrupt political appointee (usually in a red state).
    
    In the meantime it'll be useful for money laundering. And a few poor dumb slobs will lose their life savings.

• I bet none of the people giving part of those $115M actually believes that this new cryptoshit will replace actual money.

  But they do believe that when (if) it is launched, its price will probably skyrocket, so they can sell early and multiply their investment in the very first day. The bigger fool, basically. I would have also invested if I could, because I believe that, even today, there are many bigger fools (remember: this case is different because blockchain+AI); not because I actually believe in scanning everybody's iris and giving them cryptocoins for free.

• ...move along, nothing to see. Just offering ephemeral goodies in exchange for your intimate, very personal details.
  
  BTW, there's a man in the park handing out free candy to the kiddies & apparently he has some very cute puppies if they want to go back to his place to see them.
• Every cryptocoin needs A Man You Can Trust behind it.

• And what idiots are dumping 0.1 gigadollars into a venture that sounds like the mutant stepchild of SBF and the NSA.

  
  
  Wait.. is this REAL money? Or is it "115 million dollars worth of crypto" aka monopoly money. The article link doesn't say.

  
  
  Regardless, it's literally raining cryptobro corpses, and this guy wants to scale up a crypto startup that somehow manages to sound EVEN WORSE than FTX? Maybe I lack vision, but I see zero potential for making legit money on a venture like this.
  
  At this point, getting into the crypto world should should be an extreme red flag. Which leads me to seriously question if Altman is legit, and also the actual viability of OpenAI. Corporate implosion coming in 3, 2, 1

  • Are you sure? This is a once in a lifetime, too good to be true opportunity you're passing up on here. Just think if you don't invest & it makes everyone else rich, how will you feel?

    • Re:

      You forgot to mention this is a ground floor opportunity and there are only a few slots remaining for the lucky ones who can get in on time before it takes off!

      • Re:

        Of course! I feel like an amateur now. I'll get my coat.

        • Re:

          BTW, I'm actually proud of being bad at this.

  • Re:

    Define "real" money. Since the USD departed the gold standard, it is no better than monopoly money. All 1st world countries currently use baseless fiat currencies, and can all be considered funny money.

  • Re:

    Sam Altman has lots of name recognition right now for OpenAI / chatGPT. Problem is, OpenAI has an ROI cap. So what's a mere multi-hundred-millionaire to do?

    Well, there are two choices. Try and do something useful, or start a crypto scam that claims to do something useful.

• You can change a password, PIN #, authenticator app, etc.
  You cannot change your iris, fingerprints, palm vein structure, etc.
  Any "reader" of any biometrics has to turn the data into 0's and 1's at some point, meaning it can be faked by a fake reader.
  
  THIS IS A VERY BAD COMBINATION OF THINGS.

  • Re:

    Dunno, sounds like an opportunity to rack up some free Sam-coins. Maybe the first person who figures it out gets some of those hundred millions of investor money before they shut the whole thing down as a dumb idea.

• Makes you wonder about whether using ChatGPT is a good idea at all.

• Creating a whole new crypto project just to bribe people into giving up personal/biometric info seems overly complicated, especially when most people would do it for a free Chick-fil-a coupon.

• World Coin has *always* been tied to UBI so seems more like an intentional drop by someone with an agenda. Or maybe they just don't believe the UBI angle. Who knows, maybe Altman seeks atonement for putting people out of work with ChatGPT and DALLE2. https://www.protocol.com/bulle... [protocol.com]