Oddbean new post about login | logout Dare I even ask what “staking Bitcoin with Babylon Labs” is?
I thought it was steak and Bitcoin
You’ve set yourself for a pretty good Drake meme here.
Ok, here we go https://m.primal.net/KIQy.jpg
Haha I would take off the “with Babylon labs part” and you got a gem.
They stake bitcoin to earn yield on pos shitcoins. Possibly a point of failure is that synchronization is required between bitcoin and the shitcoin chain
So it’s BlockFi but with exorbitant fees. Perfect.
But it is dEcEtraLiZEd https://media.tenor.com/jDJkh3w0wTAAAAAC/gregzaj1-ln_strike.gif
Wild that people continue to throw their money at this stuff 🤦♂️
I assume it’s all just the VC ecosystem juicing each other’s retarded projects and trying to scam a few ignorant folks along the way.
Good point. At least they are funding the miners with their stupid games.
Gotta pay to play
The miners say thank you. Sad for the plebs being sucked into participating. At least lessons will be learned.
I saw that 15 btc fee balance and thought come on litttle bitaxe you can do it buddy
Indeed. Although I do think these are having a diminished effect over time. Too many painful lessons have actually been learned and the scams are getting tougher to sell.
If you look into the history of penny stocks, crypto scams are the new penny stocks. Penny stocks have been around for hundreds of years before slowing down, mainly because a better platform for scams came with crypto. The illusion of getting rich fast and easily blinds normal people. Sadly, these scams will always find another sucker.
