Altman Raises $115 Million for Worldcoin Crypto Project (reuters.com) 29
OpenAI Chief Executive Sam Altman has raised $115 million in a Series C funding round led by Blockchain Capital for a cryptocurrency project he co-founded. From a report: The project, Worldcoin, aims to distribute a crypto token to people "just for being a unique individual". The project uses a device to scan irises to confirm their identity, after which they are given the tokens for free. Worldcoin has faced criticism for perceived privacy risks. In response to Altman's tweet introducing the project in 2021, former U.S. intelligence contractor Edward Snowden tweeted, "Don't catalogue eyeballs".
This again? $115m flushed down the toilet (Score:4)
Eom.
Yes and no (Score:2)
In the meantime it'll be useful for money laundering. And a few poor dumb slobs will lose their life savings.
Completely speculative investment - bigger fool (Score:4, Insightful)
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.
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Nothing unusual going on here... (Score:3)
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.
This is a not-for-profit cryptocoin, right? (Score:2)
What world does this guy live in? (Score:3)
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
Re:What world does this guy live in? (Score:4, Funny)
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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!
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No worries, practice makes perfect! This idiocy isn't going away anytime soon. You'll have more chances at it. I'm pulling for you!
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Re: What world does this guy live in? (Score:2)
You know what's weird? When I take my monopoly money into the grocery store they won't let me buy anything at all! The nerve of these people! /checks notes/ "funny money"?
Would you be so kind as to go and let them know that my monopoly money is just as good as their
Thanks in advance!
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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.
so SkyNet got access to biometric data? (Score:3)
Just to catch everyone up (Score:1)
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.
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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.
That is the guy with this "AI" stuff, right? (Score:3)
Makes you wonder about whether using ChatGPT is a good idea at all.
Overly complicated (Score:2)
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.
UBI forgotten from summary (Score:2)
altman the only winner (Score:2)
Altman himself will be the only winner in the WorldCoin game, everyone else involved will lose, by design.
Tulip mania no more (Score:2)
More and more people see the crulip mania as it is and are backing off from it.
Log cateye balls; don't catalogue eyeballs (Score:2)