Stream: Nix toolbox devs & users

Topic: Crypto guys are offering us free money for nixpkgs cont...

view this post on Zulip Notification Bot (Feb 23 2024 at 13:25):

Huỳnh Trần Khanh has marked this topic as unresolved.

view this post on Zulip Huỳnh Trần Khanh (Feb 23 2024 at 13:26):

ugh I might have held my phone the wrong way and mistapped something lmao

view this post on Zulip Enrico Tassi (Feb 23 2024 at 21:52):

FYI in France, since 2023, you should pay 30% of income from cypto currency exchanges benefits in taxes.

view this post on Zulip Ali Caglayan (Feb 24 2024 at 21:45):

Honestly I feel like this isn't something that you should trust. Seems very sketchy.

view this post on Zulip Emilio Jesús Gallego Arias (Feb 26 2024 at 20:54):

What do you think is sketchy about it?

view this post on Zulip Ali Caglayan (Feb 26 2024 at 23:24):

Well after hearing about firms such as FTX I am not so trusting of crypto firms that give "free" handouts. That money still has to come from somewhere and not being able to trace its source sounds super sketchy to me. Another red flag is the fact that they don't offer this to US citizens, presumably because they have laws against this kind of thing. Of course, I am not a lawyer and this is just my opinion, but I thought I would share my reservations.

view this post on Zulip Huỳnh Trần Khanh (Feb 27 2024 at 01:52):

well the thing is in crypto you can't be totally sure something isn't sketchy you can only limit your risk. and in this case all you need to do is connect your github account, put in your address and receive some coins. not that risky lol

as for why the US is excluded, this is because the coin could be considered a security in the US. it has voting power

view this post on Zulip Ali Caglayan (Feb 27 2024 at 11:50):

Right, but if somebody was freely handing out money from a bag on the street would you not have reservations about it being possibly stolen? There might be very little risk to yourself, but ultimately it is a question of ethics. Is this ethically a good thing to do? I'm not saying that the "money" being handed out here is stolen, I'm just trying to show that its not so clear how to justify its source.

view this post on Zulip Ali Caglayan (Feb 27 2024 at 11:53):

@Théo Zimmermann FTR this is not directly criticising you or your announcement. I think its great that you want to let people know about this and if you benefit from it there is no judgement from me. I was just a little perplexed that others didn't hold similar reservations as myself, but maybe I am overthinking this? Thanks for the ping anyway, just not for me.

view this post on Zulip Théo Zimmermann (Feb 27 2024 at 11:54):

Let's not confuse what is handed out (cryptomoney tokens) with where their monetary value comes from (people ready to buy these crypto tokens when you exchange them against euros). It is easy to create crypto tokens. They don't have to "come" from anywhere. Usually, you even "have to" create some from thin air to launch a new cryptomoney (although I don't know if that's the case here because I didn't try to dig up what this was). Their monetary value comes from the people ready to buy them. They may be wrong or right to do so (both ethically and rationally). Ethically, you selling your crypto tokens to them is not helping the crypto money as it will contribute to lower its market value (as far as I understand it).

view this post on Zulip Théo Zimmermann (Feb 27 2024 at 12:01):

For full disclosure, this is not the first time that I benefit from crypto money being handed out freely to GitHub users. Last time (in 2021), getting it was a bit more complicated because it required a signing process using my public SSH key and I only learned about it more than a month after the initial announcement, by which time the crypto token had already dropped in value by more than 50%. I dutifully paid my 30% flat tax to the French government on it, which still left me with about 600€. Maybe this previous experience is the reason why I was less surprised by the current occurrence.

view this post on Zulip Théo Zimmermann (Feb 27 2024 at 12:04):

This is the previous occurrence I'm talking about:

view this post on Zulip Théo Zimmermann (Feb 27 2024 at 12:12):

(Two years after the value of this other crypto handout has dropped to 100€, so indeed, we can safely say that the money that I received at the time came from people who made the bad decision of investing into that cryptomoney.)

view this post on Zulip Emilio Jesús Gallego Arias (Feb 27 2024 at 13:05):

Indeed, giving away tokens is very common, as tokens can be created (almost) out of thin air, I think Théo summarized excellently the tokens having value.

Indeed whether the strategy of giving away tokens is cost-effective, that's a bit of an open topic, but it seems to me that it is working well for them.

view this post on Zulip Enrico Tassi (Feb 27 2024 at 19:03):

IMO it is the best advertising a coin can get. If nobody has tokens, nobody can trade it. If you get some, you tell your friends. Indeed this is what happens in this thread, I would have never heard of this cryptocurrency without Theo's heads up....

Last updated: May 25 2024 at 20:01 UTC