Even if they’re not a house of cards (like all the other ones), and have reserves not based on burning ecoins (like all the other ones), they’re about to be stress-tested by a major run of withdrawals.
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Accurate.
Even more succinct summation would be “There’s No Use for NFTs.”
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Well, some people have definitely found NFTs useful for separating rubes from their money.
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(like all the other ones)
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Unsurprising. Cryptocurrency “investors” are a self-selected group of gullible people with money: an obvious target for any enterprising scammer!
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What? No. Genius-level independent thinkers! Some of them told me so themselves, so it must be true.
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I don’t know if I would use the word “money,” but they got something all right.
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Alt-right.
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True. Let me amend that - they’re gullible people who, at least at one point in the past, had money!
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I find this framing problematic – not because I don’t think SBF conned people, but because it wrongly suggests that there’s some foundational core of crypto that’s not a con.
To be sure, there are a lot of honest, earnest, and sadly credulous investors who have gotten bitten in the FTX shitshow. But there’s really only two (not necessarily mutually-exclusive) categories of investors in the “crypto world”: people trying to pull a con, and marks.
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I could see myself going for a Crono or maybe even a Spire, but neither would fit into my garage.
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This is the “one-star Yankee Candle reviews on Amazon” of the crypto world.
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