<story><title>Cryptocurrency is something people tell lies about in hopes of getting richer</title><url>https://defector.com/cryptocurrency-bad-and-weird/</url></story><parent_chain><item><author>cfup</author><text>I was involved in a blockchain (DeFi) startup. All the blockchain companies are mostly a huge pyramid scheme. The company I worked for has a lot of big claims, raised millions, wanted to solve world hunger, prioritized partnership, marketing, while having no working implementation. Others in the eco system are the same.&lt;p&gt;The NFT scene is even more BS. It could destroyed uninformed people&amp;#x27;s life, just like gambling. However, this kind of gambling is public on the internet with little regulations.&lt;p&gt;I hope more tech people speak about this instead of just ignoring them.</text></item></parent_chain><comment><author>xur17</author><text>&amp;gt; I was involved in a blockchain (DeFi) startup. All the blockchain companies are mostly a huge pyramid scheme. The company I worked for has a lot of big claims, raised millions, wanted to solve world hunger, prioritized partnership, marketing, while having no working implementation. Others in the eco system are the same.&lt;p&gt;I agree that there are lots of scammy &amp;quot;blockchain&amp;quot; startups, but I don&amp;#x27;t think it&amp;#x27;s fair to paint them all with that brush. There are also plenty that are actually building cool projects, without pumping their coin, and announcing light interactions with a company as partnerships.&lt;p&gt;If you have 20% of companies being scummy, but churning out 80% of the news, your assumption will be that all of the companies are scummy.</text></comment>
<story><title>Cryptocurrency is something people tell lies about in hopes of getting richer</title><url>https://defector.com/cryptocurrency-bad-and-weird/</url></story><parent_chain><item><author>cfup</author><text>I was involved in a blockchain (DeFi) startup. All the blockchain companies are mostly a huge pyramid scheme. The company I worked for has a lot of big claims, raised millions, wanted to solve world hunger, prioritized partnership, marketing, while having no working implementation. Others in the eco system are the same.&lt;p&gt;The NFT scene is even more BS. It could destroyed uninformed people&amp;#x27;s life, just like gambling. However, this kind of gambling is public on the internet with little regulations.&lt;p&gt;I hope more tech people speak about this instead of just ignoring them.</text></item></parent_chain><comment><author>dotlog</author><text>Was is literally a pyramid scheme that recruited people and paid people for getting new recruits? Or just a scheme?</text></comment>