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nobody 2 years ago
Respectfully, if we go back through time in this "industry", how many of the companies involved resulted in robbery, theft, pump and dumps, scams or insolvencies? How many are long standing and reputable? (I know lots of industries have mixed records of reputability and consumer protection etc...) But still. Pick a number for each as a %. Imagine we could get the accurate data on this. It's staggeringly slanted. Imagine how many people, and $ was illicitly stolen. Billions? It's why I can't send emails at work with the word "Bitcoin" or "crypto" in it. They get filtered out. Making it so hard to legitimize education about it. The nefarious avenues and actors delegitimize the whole thing. Remember, the outsider pleb doesn't know the intricacies to it. To them, it's all the same and it all get painted with the same brush. I don't want honest actors to be punished. But this has to get cleaned up. I detest regulation usually and don't like central powers making laws restricting honest XYZ business. But how does this get cleaned up? How does this heal? If some legit business have to exist in strict corridors for this to happen, I'm for it. I'm not stuck on this opinion but I'm tired of grifters and scamers controlling the narrative about "Bitcoin" and "Crypto".

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I don’t think we disagree there’s lots of garbage, even by %, I don’t even think a “crypto” person would disagree with you. But my point above stands - the actual scammers will just lie, slip through the cracks, and get by. The business even attempting to be legitimate are the ones who get punished.
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nobody 2 years ago
Yeah. Perhaps is the idea of Web5 we're all moving towards is that if it's FOSS and all transparent then less people can get hurt, as it's open and obvious. You can verify. So trust-chain style of reputations will be worth a lot opposed to blind trust. Digging deeper, I think the generational divide works against us too. Anyone over 30 didn't grow up natively with the internet and vulnerability en mass scales up from there. Local tribe leaders in the fediverse might be sorely needed too to lead and help those around them. Deep thoughts.