Molly White Tracks Crypto Scams. It’s Going Just Great
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Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#2The site in question: https://web3isgoinggreat.com/
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#3So let me get this straight. Molly White is the top source for tracking crypto scams and the sum total comes to...$12 billion.
Meanwhile, retail banks effectively steal $30B from poor consumers _every year_: https://breckyunits.com/the-great-bank-robbery.html
I do enjoy Molly's work and I would love it if we didn't hear about all the NFT grifters, but I see crypto as the best hope to offer the average person an honest banking experience, and I see the "scams" of retail banking to be 1-2 orders of magnitude larger.
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#4So let me get this straight. Molly White is the top source for tracking crypto scams and the sum total comes to...$12 billion. Meanwhile, retail banks effectively steal $30B from poor consumers _every year_: https://breckyunits.com/the-great-bank-robbery.html I do enjoy Molly's work and I would love it if we didn't hear about all the NFT grifters, but I see crypto as the best hope to offer the average person an hones…
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Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#5And too right the critics like Molly are about crypto.
There is no need to kid ourselves here anymore to even entertain crypto.
Crypto is a complete scam, with no legitimate or legal use case and nothing else to offer anybody.
I only wish crypto died sooner and that nobody uses it.
We have other systems that are more robust than crypto that is used in the order of hundreds of millions such as UPI, PIX, Wise, Mpesa, Sendwave, etc that has time and time again proved to be better than crypto.
FedNow is coming in a months time so it should hasten crypto’s inevitable downfall faster.
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#6And too right the critics like Molly are about crypto. There is no need to kid ourselves here anymore to even entertain crypto. Crypto is a complete scam, with no legitimate or legal use case and nothing else to offer anybody. I only wish crypto died sooner and that nobody uses it. We have other systems that are more robust than crypto that is used in the order of hundreds of millions such as UPI, PIX, Wise, Mpesa, S…
Just googled FedNow and there's FAQ where one of the questions is "Will FedNow replace services like Venmo, Cashap, zelle..." and the answer there is no... which doesn't make sense if it's suppose to be a way to instantly transfer money. Wouldn't FedNow replace all of those?
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#7And too right the critics like Molly are about crypto. There is no need to kid ourselves here anymore to even entertain crypto. Crypto is a complete scam, with no legitimate or legal use case and nothing else to offer anybody. I only wish crypto died sooner and that nobody uses it. We have other systems that are more robust than crypto that is used in the order of hundreds of millions such as UPI, PIX, Wise, Mpesa, S…
Just googled FedNow and there's FAQ where one of the questions is "Will FedNow replace services like Venmo, Cashap, zelle..." and the answer there is no... which doesn't make sense if it's suppose to be a way to instantly transfer money. Wouldn't FedNow replace all of those?
Prior commentary:
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#8The site in question: https://web3isgoinggreat.com/
I can't help but be reminded of Fucked Company
https://en.wikipedia.org/wiki/Fucked_Company
I guess the more things change, the more they stay the same?
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#9I've crossed swords with Molly a couple of times. I was the release coordinator for Ethereum, and I've been active in the space a long long time.
Here's what it boils down to: freedom is messy.
The early days of the dotcom space were filled with carnage of a type which makes crypto look pretty normal. Amazon stock dropped >90% and a trillion and a half in value vanished from the market overall. https://en.wikipedia.org/wiki/Dot-com_bubble
And that's in a space whose biggest ambition was to replace catalogue shopping and how hotel reservations are made.
Crypto has bigger goals, and the mess is bigger. But it's the same innovation engine that ran Silicon Valley, the same type of people, it's just now they're less dependent on Goldman Sachs when they want to go to the public and ask for their money. Make no mistake: nothing new, strange or unusual is happening. It's just tech being tech, no cause for alarm.
Re: Molly White Tracks Crypto Scams. It’s Going Just Great
#10And too right the critics like Molly are about crypto. There is no need to kid ourselves here anymore to even entertain crypto. Crypto is a complete scam, with no legitimate or legal use case and nothing else to offer anybody. I only wish crypto died sooner and that nobody uses it. We have other systems that are more robust than crypto that is used in the order of hundreds of millions such as UPI, PIX, Wise, Mpesa, S…
Slightly off-topic rant: it seems (at least in hn circles) all the crypto buzz generation has found a new target in AI. Whereas prior to GPT-3 _every_ problem's solution according to a certain crowd was a hefty dose of web3/crypto, it seems now the consensus among a comparably sized crowd is that AI is actually the answer to all of humanity's pressing issues.