Hi, a user messaged me about crypto and I wanted to put my response out to you guys on my current views of crypto, and possibly see what you guys think or hope to inform you guys somewhat. I would tag them, but maybe they don't want that. If they want to comment below they can.
The truth is, I am infatuated with crypto - but not at its current state. I envision a world in the future with neon lights and cool sunglasses we wear at night with intelligent displays, 3d holograms lighting up our steps and a cyberpunk-esque life - where everything is completely intertwined with crypto - you will pay for a hooker at a bar in crypto, the flying taxi back home in crypto, the new cyber-attachment that makes you fly with crypto...
But seriously, right now too few people understand the mechanisms and foundations crypto is built upon. This is not the fault of anyone though, any new development will take time for everyone to adapt to and learn, this is the process we must go through for every new advancement. But, many are so gullible to fall into the trap that people are setting with these stupid new coins. I know this, because I was once involved a private upper circle of pump and dump scheme but even I was scammed for over 10k USD by the others. I should never have gotten involved because it was against everything I think, but even I was enticed by the great earnings that is promised.
The whole side of crypto world is just nasty and disgusting right now, with everyone manipulating each other. All of these key buzz words they use like "shilling" "paper hands" "shill team" - they have turned it into meaning something else, I hate it. The owners of these new coins will make a telegram, make a private "shilling group", indoctrinate uneducated people to hate on "paper hands people".
Have you ever heard of that bull**** where they say we are a "community powered group"???? WTF does that even mean?? Nothing -- but, combined with promises of riches, it is a great buzz word for people who originate from a lesser developed country, with low English speaking skills. And, this is exactly the group of people that are commonly preyed upon by these groups.
This part of it truely disgusts me, moreover because I am so infatuated with crypto that it hurts to see it have developed such an awful underground side.
I think BSC (binance's own dev tool to make coins on) was a complete mistake because it has allowed for such scams to be so easily replicated on an increased user base with minimal knowledge on how crypto actually works.
Actually, there was a story I read the other day of a 17 y/o girl in Thailand, who had just inherited around 3000 usd from her dead father. Her mother was in ICU for COVID-19, and desperate to help her mother she deposited the remaining money into a crypto group. She said she could no longer contact that group, and you could imagine her whole world fell apart. She turned to robbing a jewelry store for over 15000 usd worth of gold by showing the cashier a knife. Imagine what awful surroundings you must have to get to that level. Now everything in her life is compromised. Yes, it was her choice. But she is a perfect example of the desperate user base that is being preyed upon and specifically targeted by these groups.
How are they preying on these groups? Well, that is easy to see. If you were in any of these groups and allow yourself to be added to other groups (a setting on Telegram), you will get added on hundreds of groups all intertwined with pump groups, and lots for India and Thailand (no disrespect to those countries - I love those countries, but there is lots of poverty that can be preyed on). You can see new users asking questions in broken english, and the Admins or "shillers" will answer things like "just hold it you will make money!" They show screenshots of graphs and promise it would go up... then ... the telegram group disappears into the shadows...
This is my current view on it, I think crypto is an amazing thing I just have an extreme distaste for the people who are taking advantage of others and abusing the anonymity and decentralized situation.
This abuse of decentralization is PROVING that we cannot function WITHOUT a centralized group governing over us ----- which is the EXACT basis crypto was developing hoping to prove - that WE CAN function without centralization. Crypto was created to allow us to maintain our independence in an increasingly technologically intermixed world, and it is a shame to see this independence being abused, like crabs in a bucket...
