Quote from: krishnaverma on Today at 01:24:38 PM

A lot of bad incidences happened in crypto community this year including:

1) FTX
2) Luna
3) Gemini Earn
4) Celcius
5) Voyager
6)BlockFi

All these incidences happened because of the greed of some people. It is important to control the entry of these kind of people as developers or people behind some new crypto projects. Otherwise people will have very less trust left on crypto in general and people will move to other alternatives. What do you think are the required steps to prevent these incidences from occurring in future ? Or are these unavoidable ?

Define greed. Who is not greedy? The miner trying to earn some profit? The trader trying to earn some profit? The developer trying to earn some profit? The investors trying to earn some profit? Govern officials trying to earn some profit? Small investors jumping in without understanding the basics of even bitcoin and driven by baseless propaganda? Was that not greed from people who don't understand anything and just ask in social media what to invest on? Now that it did not make them a millionaire someone else is greedy? They were being used as scapegoat to destroy whatever good is left in crypto. A fool and his money is soon parted. Not only that a fool is a liability on everybody else in the society including those who tried to give him good advise and only got insult or harm in return. These fools would have lost their money anywhere they would have invested why blame crypto market or bitcoin alone?

Hint: it is not greed that brought the system down it is something else but I would not like to point it out as that makes me unpopular and someone who can't see it himself will never understand that. I can only give hints with the hope if they get it themselves they will bot abuse me and will be helpful to them and me as well. There is no point discussing with people that are brainwashed in a certain way that is so visible by their use of words like greed, profiteering, etc. This is economic forum talk in terms of economics. If you are talking about economic greed then your post does not make any sense as it is contradictory as you cannot ban or legislate away economic grid without removing people's right to property and that is why I am saying this has a may be unconscious or unintended narrow political tunnel vision. You lined up the events right. But what was the fundamental economical problem with all of these platforms? Do you have the courage to admit that? You know it if you understand bitcoin. Think clearly without political and religious bias. Biases are your enemy as a decision maker. You should be free from all biases as much as possible to be a good decision maker. Think only in terms of economics, maths and stats. You will get the stone cold right answer. I will not provide the answer. You must work to free your mind of irrational biases. The last hint is it is not bitcoin's fault but bitcoin is being blamed because all of these salesy, marketing folks knew it is only bitcoin that can shore up their shit coins. Ultimately why "people" bought these? Somebody held a gun at their head to buy any of these shit coins? If not why are they behaving like crybabies? Finally what is the harm if "People" lose trust in crypto in general and move to other alternatives? People were not interested in bitcoin say 7 years back. Did that stop us from making money in bitcoin and crypto? It is advantageous if people do not buy good technology and we get the opportunity to buy it cheap for longer period in time. The later people will return to bitcoin or crypto the better it is for early responsible investors. This is basic Warren Buffet advice and he is right here. Your "People" has no opinion of their own. A few carefully placed articles and few advertisements with big tit beautiful hosts will again bring them back to crypto or whatever. How else they invested in these shit coins? They will anyway lose their money on whatever else they invest without understanding the basics be it financial markets, real estate, business, whatever unless they are lucky enough to win a lottery ticket and do not come back for more. What is your charge against the entrepreneurs? Their ideas were flawed? They themselves also lost money. Why did not "people" understand that? Many of us did and avoided all of these shit coins as media were touting them. There are many more left that will meet the same end. Until then someone may make money in those coins but that is just winning lottery. I am not going to touch them. Some may not have started as shit but adopted shitty ideas for any touchy feely cause that can motivate "people". The fish that took the bait has no responsibility for its demise? If you believe in a cause then go volunteer for that cause do not go through 5 pass throughs. Your time is the costliest donation to a cause. Everything else is advertisement or tax dodging or something even worse.

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