👇 Real story
Back in 2018, I was at AIBC Malta. On the evening of the first day, I met him at a pub near the venue. I didn't know who he was: I was always focused on ETH and had never spent time reading BTC influencers.
At every event I try to be friendly and chat with everyone I meet, so we started talking.
He opened by telling me I was dumb for building a real app on Ethereum instead of running a ponzi because, in his words, "crypto is only for ponzis."
Then he pitched me the "Ponzi scheme" (his words again) he was building. I was shocked and bored, and I left as fast as I could (you know that moment at an event when you invent an excuse to escape a conversation with someone you'd rather not connect with).
To me it's crazy that it took 9 years to stop this guy, a guy who literally and openly admitted he was running a ponzi.
We live in a reality where people post on social media about scamming others, extracting value from them, running Ponzi schemes, rigged casinos, fake commodities and securities, OTC money laundering, all while flexing their earnings and wealth. And sadly, they're becoming role models for a new generation.
This is the new status quo, and it's reflected in crypto too. I don't need to list examples.
So my question is: am I a dreamer for believing crypto is a transformational technology that will improve our lives and our freedom, and this is simply the new normal? Or will the justice system start working, giving us real incentives to build apps that change people's lives for the better?
Because let's be clear: every repost and every dollar invested in these scams pulls visibility and attention away from legit businesses toward zero-value distractions. If this goes on too long, we all lose as an industry.
We need great crypto businesses that make money, build tangible value and change people's lives for the better. The opportunities are endless. What's scarce right now is visibility.
