this post was submitted on 04 Aug 2024
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normalizing scams, by laundering their image via standards organizations, pollutes our communications environment. Both an emoji and a petition are symbolic - and our symbols are in fact important.
Bitcoin isn't a scam. All non-bitcoin cryptocurrencies are scams.
People often hear about stuff like coins that are pre-mined, or proof-of-stake and the schemes and scans that come out of those, and immediately associate Bitcoin with the same thing.
That is also not 100% true. There are several altcoins with fantastic utility. Monero and Ethereum come to mind.
Ethereum has scam characteristics though. The creator Vitalik gave himself time to mine it alone before giving public access. He secured for himself quite a nice stash
That's true. I suspect the application programming is the only reason that it actually took off.