I have a happy announcement to make. I am quitting my job. From this day onwards, I am relieved from all my former duties to my employer. I’m not quitting because the company screwed me over or because I have a conflict or anything along those lines, rather I’m quitting for four main reasons:
- I think cryptocurrency delivers no clear benefit to humanity. It functions more like a fractal Ponzi scheme than anything else. It’s a giant Ponzi scheme, but when you zoom in on the Ponzi scheme, you just start seeing more individual little Ponzi schemes. This means that I don’t have a lot of motivation to get up in the morning and go to work, as my work inevitably involves facilitating all sorts of scams. That’s nobody’s fault, that’s just the nature of anonymous decentralized cryptocurrencies.My personal opinion is that cryptocurrency should not be outright banned, because that would set a bad precedent for civil liberties. Rather, cryptocurrency exchanges need to be held to the same kind of money laundering standards as regular banks are held. Banks pay fines, not so much for actively facilitating money laundering, but simply for not doing enough to stop it. If this were the case with cryptocurrency, then running a cryptocurrency exchange would simply not be financially sustainable.
- I now have enough money to stop working for the rest of my life, if I’m willing to keep my expenses reasonable and spend some time maintaining my portfolio. I have 510,000 Euro worth of stock to my name, so I believe I can stop working for the rest of my life. I have no 100% guarantee, if Japan is hit by a megatsunami I’ll have to start delivering mail for a living, but I’m reasonably confident that I can live off my returns. I can’t live like a playboy, but that’s not really my intention in the first place.
- The company offered me a decent severance package and I’m going to get help in figuring out what I would like to do as an alternative to my current job, if I were so inclined. My suspicion is that for college dropouts like me the choice is between boring helpdesk jobs and delivering mail, but I’ll find out about that soon enough. I’m not going to expand much more on this because it’s somewhat confidential, but this offer made the whole equation a lot easier for me.
- I think the whole cryptocurrency scene will just grow uglier as time goes by, I expect to see the whole thing melting down within the next twelve months or so, at which point my job would probably be uncertain anyway. I never planned on working at this company for decades of my life, because I had actually assumed cryptocurrency would probably be banned eventually. At this point we’re dealing with pipelines being hacked for Bitcoins and stablecoins backed by 100 billion in fake assets. I just really don’t want to be involved in this kind of swindle, if I can pay my bills without having to be involved.
I think Bitcoin is basically a swindle that preys on young low status right wing white men. It functions psychologically in the same way as gold does for old low status right wing white men, but in contrast to gold it has zero intrinsic value. A number in a database somewhere generated by a datacenter in rural China is going to fix every problem that low status right wing white men have worried about since time immemorial. Cryptocurrency in general is similar to Bitcoin, but the average IQ of the fanbase drops by 10 points.
The favorite fear of these types seems to be hyperinflation and Bitcoin is somehow going to be their “hedge” against this hyperinflation. The funny part of course is that they generally don’t have any assets, they just have college debt or a mortgage, so they don’t really have anything to worry about when it comes to hyperinflation. If anything, inflation is their friend. Hyperinflation sucks if you’re a pensioner who has dutifully saved his money in a bank account. If you’re a person who owns no assets, why would you care?
They need a pretty narrow apocalypse scenario to worry about for their cult, because if society truly goes to shit, magical internet money won’t work, as there won’t be any internet. That’s why they tend to arrive at the story that all actual money is soon going to be worthless and the only way to prepare for it is by buying Xinjiang coalcoins, rather than anything with intrinsic value, like real estate or precious metals. Their actual understanding of economics after all can be reduced to a series of Reddit memes.
The nice thing about quitting my job is that I won’t have to spend every day aimlessly browsing the Internet anymore, as I won’t have to do all sorts of stuff for my employer anymore in another tab. I can just go outside and lay in the sun, which is what I like to do in my weekends. Right now I’m planning on traveling with a friend to a festival organized by another friend in England. (Yes, I actually have friends IRL, it surprises me too.) That’s the sort of thing I like to do and it’s the sort of thing I haven’t really had time or energy to do, because my job was mentally draining me.
That’s ultimately nobody’s fault except my own, because I chose to work at a company that sells a product that’s generally only used for scams and crime. I look forward to never having to spare a single thought about cryptocurrency again in my life. I hope to rediscover my own passions, regain my mental energy, rediscover my creativity and lead a happy life.
Congratulations on quitting. I never clicked that you worked for something crypto-related. That must have been soul sucking then. Hope you have a happy retirement (if that is the right word)!
Thanks for the kind words
Good for you! Early retirement was always a dream of mine, though I’m not so sure it’s in the cards for me.
You still planning on visiting the states this year?
Maybe later this year. I don’t plan on getting vaccinated against the batsoupflu and I will have to look into whether it’s going to be tough to get into and out of the US.
Any chance of a post on your stock picks? I think there’s a fair few of us who have become disillusioned with crypto and are looking to get out but don’t know what to move their crypto casino bags into
Yeah I’ve been thinking of doing just that, but I also want to avoid becoming a boring old man who spends all day discussing money.
Jobs are bullshit, I hope you’ll find out what you want to do in life. It’s always nice to see people who manage to leave this hell.
Congrats, I wouldn’t be surprised to see a flurry of great essays in the next few weeks as your brain reboots
Your articles grow increasingly polarizing. Crypto is everywhere. I suppose if you are 4chan frequently, it may seem like a right wing phenomenon, but on the left leaning Twitter it is even moreso.
As for everything else, was it not obvious from the beginning? It is an asset whose value is based on the assumption of increased future value.
I would not compare crypto to gold though. Unlike gold, crypto is far easier to conjure out of thin air. Gold, far less so… In some sense your stocks are like crypto in that they are a claim on future profits.