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There's a lot of important problems in (and around) cryptography that need solving.

So pick a problem, wrap a coin around it, and profit.

> and profit.

I see what you didn't do there :D

They forgot the important step of ‘sell coin to gullible idiots’, which is essential to the profits.

n.b. The ‘solve the underlying problem’ step is optional in all blockchain projects, and is generally omitted entirely.