I'm glad we have more skeptical and competent people (and especially engineers) like Molly calling all this crypto nonsense for what it really is. More people should be aware of the real truth and ills behind crypto (yes even bitcoin), web3 and blockchain.<p>The reality is that it is all a scam and there is absolutely no justifying it.<p>You have people losing their life savings over this fad. People gambling in this distributed casino; addicted to looking at the price all day. The VCs dumping their tokens onto the unsuspecting general public for them to restart the scam cycle over again.<p>The only 'usecase' for all of this is for speculative purposes only. Which is what the majority of the people involved in this crypto hype are doing.<p>I believe that the recent Terra crash is the beginning of a complete wakeup call for the end for these crypto tokens.<p>This needs to all stop.
The website is <a href="https://web3isgoinggreat.com/" rel="nofollow">https://web3isgoinggreat.com/</a> for anyone who wants it.<p>Amazing the kind of scams that are being orchestrated in that world.
> She sports a youthful uniform of jeans, sweaters and Converse sneakers<p>Presumably this was the first time the reporter had escaped the WaPo offices since 1980; if anything this is probably more an early-middle-age uniform than anything else, at this point...
For a lot of us, most of "web3" is too ridiculous to engage with. It's good to see someone actually taking the time to engage with it.<p>That said, there will be lots of people who are only emboldened by her take-downs. Not much that can be done about that. It's transparently a scam, it's hard to feel too bad about people who get caught up in greed. On the other hand my retired father had told me some people he know were "investing" in crypto and wondered if he should be too. Preying on retired people is really not cool.<p>One nit-pick I can't help, the article says crypto has been "hailed by libertarians". Yes, there are technically unsophisticated, naive libertarians that have been taken in by the scam and see how the supposed benefits of crypto align with their values. Same as people with many other viewpoints. Just because some people in a group have been tricked doesn't mean anything else, just that they got tricked (or greedy). I'm a libertarian and I know crypto is a scam. I'm not the only one.