What is Web3? NFTs? DeFi? I’m going to save you a lot of time: They’re scams

bitcoinmagazine.com

18 points·janandonly··4 comments

> I’m sure that I’m going to get a lot of pushback for this article. And I’m also sure most of the people pushing back will be non-technical people.

Nothing bolsters an argument like claiming that people who disagree with you are dumber than you are. Web3 is indeed a VC meme, but this whole article is just the pot calling the kettle black.

Nfts? Most of them, yes, but they are not only pictures. The adoption in real world is lacking behind (because its more complex then just pictures)

Defi? I'm not sure how they can be scams.. You can read and view the smart contract..

The problem with all crypto including bitcoin is it has a money laundering problem.

Yes, there are probably some illegal activities that are morally justifiable, but there's a whole lot of it that's not.

The leading blockchain surveillance company put out a crime report that estimated just 0.15% of cryptocurrency transactions involved illicit activity.

> In fact, with the growth of legitimate cryptocurrency usage far outpacing the growth of criminal usage, illicit activity’s share of cryptocurrency transaction volume has never been lower.

https://blog.chainalysis.com/reports/2022-crypto-crime-repor...

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