4 ms·

It was the same in 2000 with anything internet, and then again some years later with Web 2.0. Simply switching to "scam mode" may sound good in a forum post, bu

• TeMPOraL 6y ago
  It's not that unjustifiable if almost every cryptocurrency-related project out there turns out to be a scam. I'm not saying nothing will ever come out of this technology - just that, at this point in time, it's wise to approach every such project as fraudlent until proven otherwise.
  • rasengan 6y ago
    > It's not that unjustifiable if almost every cryptocurrency-related project out there turns out to be a scam. Please make a list of the scams that exist within the top 200 coins. If this can’t be done or it’s a nominal percentage of them, then this statement you made is false. There are definitely a few people loudly calling projects scams on HN. That doesn’t suddenly make every project a scam - it just shows ignorance. It’s similar to racism - judge a book by its cover so to speak.
    • WorldMaker 6y ago
      If one believes that the Proof of Work algorithm/behavior itself is a scam at a technological level, then the onus is on you to prove which of the Top 200 coins has a valid business model with a valid sustainable growth model. Building lots of git commits until you get a commit hash that starts with the right number of zeroes is a fascinating scam that is wasting so much computing power, energy, etc that it almost should be a crime, whether or not you believe that these git commits with lots of zeroes in the hash numbers are used for anything more than nearly criminal Ponzi Schemes beside that.