Crypto and blockchain tech has real potential, but unfortunately it just morphed into an actual ponzi scheme. I wouldn't be surprised if most of bitcoin was held by ~5 people that manipulate the market and make millions off it.
Just like 2017, of course they are getting hurt in 2022.<p>That's why schemes like ICOs that were popular years ago (Thanks to Ethereum /s) were made illegal in the US. [0] Many countries like the UK, Canada, etc to follow.<p>It is inevitable that regulations will be put in place and cryptocurrencies that are <i>compliant</i> will still be around.<p>[0] <a href="https://cointelegraph.com/news/the-death-of-the-ico-has-the-us-sec-closed-the-global-window-on-new-tokens" rel="nofollow">https://cointelegraph.com/news/the-death-of-the-ico-has-the-...</a>