Linus Neumann - Blockchain and web 3.0: kicking the hornet's nest

Discussion in 'Other media' started by NotAdmin, Feb 18, 2023.

  1. NotAdmin

    NotAdmin Administrator

    • Informative Informative x 2
  2. It's ironic that I've been looking into crypto exchanges and related topics for a while, so glad i watched this.
    Last edited: Feb 19, 2023
    • Like Like x 1
  4. Omg your back!
  5. NotAdmin

    NotAdmin Administrator

    I actually didn't finish the video when I first posted it. I did now.

    Linus confirms what I have felt about the blockchain, crypto currency, NFTs and almost all the related topics. It's all pyramid schemes. It's technical jargon covered with a heavy serving of marketing sauce, and a sprinkling of altruism to tug at your heart strings.

    Remember how MindArk launched their ICO and they were going to make the world a better place by allowing content creators to sell their work through the blockchain (there's the altruism hook). That already existed at the time. Unity (hundreds of thousands of monthly recurring developers) had their Asset Store. Epic has something similar. Neither of their solutions needed the blockchain.

    Yet, MindArk, a bunch of absolute nobody's from Sweden, together with a ragtag collection of equally unscrupulous "advisors", proudly announced this would be a massive game changer. It never was. They were throwing a non-sensical, overly complicated solution at a non-existing problem, hoping to cash in on it. Heck, they went as far as once again introducing their anonymous investor (who apparently did not read that any investment should be considered to be a donation), only to later on cancel a project that was doomed from the get-go.

    Luckily MindArk now allows you to trade their shares (but not before they did a stock split, to ensure all the poor idiots picking up the stocks (players who never realized they were part of a pyramid scheme to begin with) enter stage 2 of the pyramid scheme). Their ICO failed, but apparently there's still people left who think THIS time they will get lucky.
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