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It's quite clear to me that much of the current crypto industry was set up for scandal. Literally only scam projects have been allowed to gain any exposure what
by jongjong 3y ago
It's quite clear to me that much of the current crypto industry was set up for scandal. Literally only scam projects have been allowed to gain any exposure whatsoever. There are tons of great projects that you don't know exist. I bet almost every popular project today is headed by scammers and whoever orchestrated this whole thing holds them on a tight leash.
- leashless 3y agoYeah truth in this. Mattereum.com/land is a legally acceptable way of doing fast transfers of real estate. Also works for gold bars etc. Wow it’s hard to get any airtime. You’d think “we’ve built the core tech for a global electronic exchange for the world’s largest asset class” would be easy to get publicity for but no.
- jongjong 3y agoInteresting because I also worked on a real estate + crypto project and the social media algorithms suppressed us big time. There must be thousands of such projects by now being censored.
- leashless 3y agoSuper interesting. Let’s hope that Musk fixes it.
- telepathy 3y agoThis is the jurisdiction of courts, not some shady blockchain
- brucethemoose2 3y agoAI World is the same right now, but more aimed at VCs. Most of the cool projects outside of FAANG are, like, lone starving devs aggregating stuff, or sometimes a research paper that kept on hacking at their repo. Many of the projects getting investor money are startups with fancy web pages full of promises that look strikingly similar to crypto hustles. Maybe they have another SOTA huggingface finetune that probably has some lies in the card.
- paulgb 3y agoIn some cases, it’s the same people moved on to a new hustle. Sometimes I’ll google a scammy crypto project that raised $xx million in VC money during the boom times, and more often than not they’re an AI company now.
- rsynnott 3y agoSome of them will also have been a metaverse company for a few months.
- telepathy 3y agoWell AI has actual utility and new functionality. Unlike crypto.
- Ridj48dhsnsh 3y ago> whoever orchestrated this whole thing holds them on a tight leash What makes you think there is coordination rather than natural incentives that drive individuals to act in similar ways?
- jongjong 3y agoBecause I worked there and literally witnessed founders going from "I will do whatever it takes to change the world" to "I will do whatever it takes to waste as much money as possible." from one month to the next around 2017.
- Ridj48dhsnsh 3y agoYou mean when the ICOs started? Wasn't that just a cash grab? Everyone threw some buzz words in a white paper and made a pretty landing page hoping to take advantage of the hype. I don't understand what you mean by "waste" or how that led to coordination. Most of those founders didn't even spend the money raised on anything, they just pocketed it.
- jongjong 3y agoMany early projects which are scams are still pocketing the money today. They are regulated by government entities which appear to be preventing them from actually doing anything useful with the funds. Founders just pay themselves big salaries to do nothing since years. Not only that, if someone from the community makes a meaningful contribution in their own time, founders will take steps to shut it down and suppress such projects. That has been my personal experience and one I know others have had.