Honestly, I have no problems with this. There's more than an abundance of information about the risks, lies, and fraud within the crypto world, and the vast majority of the promises are firmly in the "Too good to be true/get rich quick" category that should instantly start triggering warning bells.
This is just new-era pet-rock/snakeoil, just with a way more annoying marketing campaign that's much larger because the whole point of the grift is to fake it until they make it, knowing they'll never actually make it. So a handful of grifters get rich while the vast majority of folks involved are left holding the bill/with worthless crypto.
Same shit, slightly different costume.
- - - Updated - - -
https://arstechnica.com/tech-policy/...ades-its-debt/
In other news, El Salvador continues to embrace Bitcoin, recently purchasing 500 more by buying "the dip".
Problem is...their countries finances are a mess and Bitcoin has done nothing to help out, arguably making it worse. Their credit rating has been downgraded again.
Apparently they were going to mine more using geothermal energy from volcano's. And now the president wants to build a "Bitcoin City" using money the country doesn't have. So what's his strategy? Selling "Bitcoin bonds"...which are like normal bonds, but for bitcoin, with half of the bond investment going toward BTC and other half going toward the "Bitcoin City"...which sounds like a bad deal given that you could just like...buy bitcoin and enjoy any potential gains in full rather than in half.
Oh, and their "stablecoin" is no longer stable as NED pointed out -
Damn, and I thought smart contracts were supposed to be revolutionary and save everything...
I'm beginning to think all the crypto folks have been lying to the world about the potential benefits in their pursuit of growing their own wealth even if it means duping tons of others...just maybe...