nomading
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4 years ago
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on: The Crypto Backlash Is Booming
Yes, there was a period of time, mostly after the ICO crash, where the market was relatively quiet and most people in the space worked on interesting technological problems. I don't want to get into arguments about the usefulness of blockchains and web3, but the intention of developers was not to scam consumers, at least not explicitly or from the outset. Now the intention of most projects is explicitly to rug pull and scam people, mostly due to the NFT craze.
nomading
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4 years ago
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on: The Crypto Backlash Is Booming
As someone who is pro-crypto and has been working in the space for 5-6 years, I have never felt so embarrassed and disillusioned as the past few months. I wish the market had stayed quiet and NFTs had never entered the mainstream. Now it's 99.9% scams and ponzi schemes. It's even worse than the ICO bubble and the whole thing will come crashing down again soon. You'd think people learn, but the get rich quick pitches are just too attractive to the average American who doesn't understand technology or finance.
