1. The world's best reading app

    Great articles, no ads. Get started for free.

    Logic MagazineGabriel Nicholas20 min
    13 reads6 comments
    9.6
    Logic Magazine
    13 reads
    9.6
    You must read the article before you can post or reply.
    • deephdave
      Top reader this weekTop reader of all timeReading streakScout
      4 months ago

      If these nouveau riche are crypto’s landed gentry, then the Collins family are its subsistence farmers. They put in long hours to keep the mining rigs running, the hackers at bay, and the stomachs of nine family members filled. Their yield is unpredictable at best and at worst, catastrophic. They may share the same principles as the crypto elite, but they aren’t making money hand over fist: in fact, they’re just barely getting by. They have made crypto their whole lives for ideological reasons, not financial ones. They are true believers in the principles around which crypto is organized, and their commitment to those principles is rooted in bitter experience. “I’m on this adventure because 2008 almost killed me financially. I’m not on dollars, I’m on Satoshi,” Owen says in his Texas Hill Country drawl. “When you come at me and ask what the value of something is and you say dollars, I’m gonna say fuck off.”

    • DellwoodBarker
      Scribe
      2 weeks ago

      I sat on this read a bit because we have a lot of crypto reads on here…. That said, this is interesting.

      The final sentence is incredibly insightful and such a glaring paradox for how we Should feel when living a life of autonomous freedom; there should not be paranoia or anxiety around living such an independent life.

      The costs of such freedom are considerable: the paranoia, the anxiety, the endless hours spent mining and trading. But for the Collins, it’s the only life they can imagine.

      I experience major anxiety around the life I choose because I am making autonomous decisions that are right for myself and yet sometimes others project I should be taking any job or I should be this or that based on how they are living their life and it gets a little overwhelming staying true to one’s self path and keeping the peace during the harder times of emptier financials, housing crisis, etc. Like the Collins this is the only life I can imagine and yet I love doing so; even when it gets hard. I Imagine Great Things; Simply Living.

    • loundytampa3 weeks ago

      Great read … still think we’re on the precipice of crypto & there is a TON of money to be made

    • jeff
      Top reader this weekScout
      4 months ago

      Really interesting read! The author paints a picture of a hard life, but I'm honestly surprised that any such "family farm" can exist at all in the US. The decentralized nature of it all means that you're competing directly with anyone else in the world, many of whom live in countries with a much lower average income and cost of living. It sounds like this family is living a unique and rewarding life. Hats off to them!

      “I’m not a rich dude,” Owen says. “I’m still living the same lifestyle — broken down cars, broken down house. The reason that I do this is the freedom to make my own choice. I don’t want to be told it’s Hawaiian shirt Friday.”

      • bartadamley
        Scout
        4 weeks ago

        The same exact quote that you highlighted is the one I thought captured the message of this article the most.

        Enjoyable article though, it did a good job covering a bit of history on cryptocurrencies as well, while highlighting a family’s experience.. working entirely for “crypto”.

        Interesting times we live in to say the least…