The problem in crypto is lying.
People lie about everything, and there is no way to check because they can hide their lies from the general public until the blockchain proves they are lying.
FTX gave a lesson in crypto that no one can be trusted.
The former CEO of SBF portrayed him as a centralized system post-child to save the crypto from collapsing.
He got the best parents with prestige positions and connections within the system and can provide many resources that others cannot.
Yet, they have to give resources again to SBF, who breaks both the traditional and later cryptosystem.
It again shows the current system is not working as it supposes to design and smart people like SBF can drift away of their wrong doing and claim his innocent until everything they built collapsed.
Crypto is not FTX but FTX has been portrayed as a crypto product to lure everyone to believe the future is on FTX hands to create a utopia which turns out to be a dystopian society.
Everything SBF touches will become toxic.
What have we learned so far after the creation of crypto?!
Such FTX Ponzi scheme has been suggested every time until it collapsed, and people continue chasing new Ponzi that yet haven't proven to be the one.
Crypto was supposed to prevent the one thing that the traditional system has failed, yet it became another system that we wanted to avoid.
How ironic is that?!
We need deeper thinking about what future crypto can drive us into, or the crypto is just mimicking the existing system with all hype...
It was a disappointing 2022 and likely 2023...
Photo by Kristina Flour on Unsplash
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Things that do not work out in crypto after 14 years of its creation
