11-10-2022, 09:50 AM
When they called crypto a Ponzi...
<!-- SC_OFF --><div class="md"><p>They're weren't kidding. I used to just brush it off as jealous people who missed the boat, but this year has really exposed just how fake all of this capital in the crypto space really is/was. 2 egotistical assholes have cost us all billions of dollars in losses.</p> <p>I'm sure some projects will recover, but Do Kwan and SBF have just completely decimated the market and eroded the trust of the entire space.</p> <p>Crypto.com, now FTX, huge names in the space, are all but dead. FTX has been on the Umpires uniforms of every MLB game for thr better part of 2 years, now they're insolvent? How do you even pitch crypto as a solid investment to anyone now?</p> <p>It hard to even see the upside of blockchain anymore, why do we need it for most applications? The safety of your investments is nil, this claim of "decentralization" has been completely exposed as false with the exception of a few, and in most applications it's completely unnecessary. $BTC might really be the only one we need.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Gorman2462"> /u/Gorman2462 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yql92m/when_they_called_crypto_a_ponzi/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yql92m/when_they_called_crypto_a_ponzi/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>They're weren't kidding. I used to just brush it off as jealous people who missed the boat, but this year has really exposed just how fake all of this capital in the crypto space really is/was. 2 egotistical assholes have cost us all billions of dollars in losses.</p> <p>I'm sure some projects will recover, but Do Kwan and SBF have just completely decimated the market and eroded the trust of the entire space.</p> <p>Crypto.com, now FTX, huge names in the space, are all but dead. FTX has been on the Umpires uniforms of every MLB game for thr better part of 2 years, now they're insolvent? How do you even pitch crypto as a solid investment to anyone now?</p> <p>It hard to even see the upside of blockchain anymore, why do we need it for most applications? The safety of your investments is nil, this claim of "decentralization" has been completely exposed as false with the exception of a few, and in most applications it's completely unnecessary. $BTC might really be the only one we need.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Gorman2462"> /u/Gorman2462 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yql92m/when_they_called_crypto_a_ponzi/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yql92m/when_they_called_crypto_a_ponzi/">[comments]</a></span>