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Looking Forward to Crushing the Scammers with Markets
I am weary of scams in this space — I feel I gave too many people too much benefit of the doubt.
I’ve stopped going to as many events and been more careful about who we talk to.
I’m happy that we never launched an ICO, raised a fund and never put investors into crypto. I don’t fault all who did. Some ideas were good, some bad.
Bad ideas and failures are not a problem. Scams are.
Even with our own events honestly we are going to start screening more if format permits. Some projects are simply unjustifiable and cross the line to theft.
I have a high bar for forgiveness of bad ideas, aggressive spending, failures and plans gone wrong. I don’t even mind stupid people or lazy partiers. Even accidental misstatements can be forgiven. But outright repeated fraud for fundraising is a bridge too far.
I’m weary of scammers.
I can’t wait till these markets are developed more.
I don’t like enemies for no purpose — but if I could short these piles of junk and make money we would absolutely crush these scamming jokers — short them and go on the offense trading against the scams.
That’s how markets are supposed to work.
I’d do it now but
1) no profit 🙁
2) lots of enemies
3) time consuming
4) they have no governance so we can’t take control of the projects to fix them like you can a corporation
Once these are securities there will will be lots of scams but the market will be more efficient to obliterate the bad and reward the good.
BS only goes so far and numbers don’t lie. The markets will painfully correct the scammers.
It will be so fun.