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It doesn't help that the shadiest of people use crypto and ICOs to cheat and steal from gullible people. The suspicion and guard is up because the stakes are di
by dmingod666 6y ago
It doesn't help that the shadiest of people use crypto and ICOs to cheat and steal from gullible people. The suspicion and guard is up because the stakes are different. Let's say you write an opensource logging library for your language and promote it on HN - the stakes are low for everyone involved.
Let's say you're trying to launch rabbit token that's going to be the next only-fans replacement. You have a ton of motivation to hard sell your product and for this reason people are going to be equally not so exited and will have their guards up. I think it'd be naive to expect a OpenSource launch like happy reaction...
So it's
1) bad guys in that industry that have the wrong motivation giving the industry a partial deserved bad name.
2) A recognition that people espousing a technology are not purely talking about those technologies but have a vested interest in those assets having a positive view in other people's perception.
Ofcourse it comes with the territory. Like if a lawyer says, wonder "why is my profession, not universally loved?"
"Its just the 80% of the corrupt politicians giving the rest of the 20% a bad name."
Not passing judgement or moral judgement but I don't think crypto is going to shake-off the suspicion for quite a while.
This is because there is a knowledge gap between the masses and the people that know how things work. Till you have that gap there will be opportunists that will want to cash out on the knowledge arbitrage.
Its actually not just with crypto. Look at products that talk about AI enhanced this and AI enhanced that. Those guys are viewed with suspicion as well. Just slap-on an AI label to your PPT and bang your product is now cutting edge. Everyone see through that BS..
- mratsim 6y agoIt's likely that the shadiest people use cash though.
- dmingod666 6y agoI hear the most dreaded criminals tend to breath air and a shocking percentage of them are found to be mammals. Jokes aside, How do you compare an ICO to cash? Its more closer to an IPO process.. if you started allowing listings in the stock market backed solely by 5-6 nice LinkedIn profiles and some 'white-paper' I'm sure the exact same people will list their companies in the stock exchanges as well.. Unlike an IPO, there is no vetting process, there are no mandatory disclosures or oversight. That is freedom from central control, sure. But, the cost of freedom is the risk that gets loaded on the part of the investors. This gap is wide open for people that are thus inclined to cheat and make a quick buck. I am not berating crypto, but, I have a lot of confidence in criminals going after easy money that doesn't have too many down sides.