Akon's Cryptocurrency City in Senegal Has Evaporated | Hacker News Reader

Akon's Cryptocurrency City in Senegal Has Evaporated

foreignpolicy.com

33 pointsteractiveodular19 comments

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Minor celebrity's crypto scam goes bust.

Wikipedia reports a fraud lawsuit.

I struggle to find something in this space that’s not a scam.

I challenge you to tear down Monero.

Polymarket is interesting if you want to gamble $20m on Kamala winning and similar.

Akoin would’ve been a great name though

way ahead of you: In 2018, Akon announced a new cryptocurrency, to be called “akoin.”

It reminds me of when I built an open source, fully decentralized exchange and the founders of the project I worked for tried to shut it down. I quit the industry because there were too many government and possibly intelligence agency shenanigans going on. In such environment, you start becoming paranoid. I had enough of the senseless politics, sabotage, deception, corruption, etc...

So your claim is that there’s no other open source fully decentralized exchange in the world, despite that being the goal and claim of innumerable crypto enthusiasts like yourself? And it’s all because of 3-letter-agencies, in a domain literally full of people who are building things to avoid them?

I mean, I wouldn’t be too surprised tbh. But also, why is everyone ignoring this obvious situation you present then?

Greed. The strings of words and an underlying logic don't matter.

If you sell your money rain dance you get paid and move on.

Now there are quite a few. Mine was one of the first ones and it's one of the few DEXs which is fully deterministic. Meaning that it's highly secure, traceable and auditable.

The founders of the community I was associated with defamed me but they have too much money and potentially shady government associations for me to do anything about it legally.

BTW, which OSS exchange would you recommend for self hosting and simplicity?

Doesnt have to be state-of-the-art, just for trading in-house used banana peels

Cryptocurrency... city?

What will the scammers come up with next

Cryptoland, obviously. An island of digital sovereignty!

That's been announced at least four times now, if you count Akon's vaporware city.

- Satoshi Island [1] STC coin, value near zero, volume zero.

- Cryptoland [2] There was an NFT land deed, but the site is dead.

- Praxis [3] Still in the hype phase.

None of these projects seem to have ever built anything in the real world.

[1] https://www.satoshi-island.com/

[2] https://www.youtube.com/watch?v=ZFoAF6lY6iI