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The reason why there are so many scam projects in crypto is because big fiat power-brokers wanted to pump up the price of scam projects in order to draw attenti
by cryptica 5y ago
The reason why there are so many scam projects in crypto is because big fiat power-brokers wanted to pump up the price of scam projects in order to draw attention to them in an effort to discredit the Blockchain/Cryptocurrency concept as a whole.
The problem is that they underestimated how much people hate the fiat monetary system and how far they are willing to deceive themselves in order to adopt and promote alternatives...
Some common cases of extreme self-deception:
- Bitcoin's measly 2 transactions per seconds is great, it's intentional to keep the size of the blockchain under control...
- Bitcoin consuming the same amount of electricity as an entire country is a good thing... It adds security, it uses mostly renewable energy and in fact, it speeds up the development of renewable energy technology.
- Proof of Work is better and more secure than Proof of Stake... The fact that everyone has to trust a tiny handful of companies who can produce Bitcoin mining hardware doesn't make it any less decentralized. The fact that the network can be hijacked by outsiders who have 0 stake in the network simply by buying or renting a lot of mining hardware doesn't impact security at all.
While this might sound like a critique of Bitcoin. I'm glad that people were able to do such extreme mental gymnastics to end up investing in Bitcoin because its success makes a mockery out of the entire financial system...
Bitcoin and Dogecoin are not so different. Their goal is to discredit the current financial system by showcasing its extreme inefficiency and stupidity. I chuckle to myself when I see Bitcoiners speaking about Dogecoiners in a condescending manner. They are both useful idiots.
Any intelligent person who understands what's going on can see that just about every aspect of our modern economy is at least as dumb as Bitcoin and that's the whole point. Satoshi was a comedian.
BTW, I'm bullish about crypto, but not about Bitcoin, Ethereum and all the other top scam coins which are hoarding all the attention away from genuine projects and starving them of funding.