Blockchain City

Blockchain Journal by the Blockchain Boy >>>Copyright@2013


Cryptocurrency A Shady Business

We all know there is great potential in Cryptocurrency but let’s face it our industry is so sleazy even the crack dealers are scared. It is the sleaze factor that is hurting prices and destroying potential. Just look at these two lists of hacks and scams:

Blockchain Hacks

Fake Coins

We have fake coins, drugs, ICO fraud, bitconnect, bribery of governments and a massive frenzy of mother @%$#%$ out to scam the public as fast and as hard as they can.

I remember this quote from wolves of wall street.

“First we pitch them the blue chip stocks, the stocks these people already know…once we sucker them in, we sell them the dogshit” -Jordan Belfort

When I look at some of the new coin fund offerings, I have my own version:

“First we get them into the cyrptos that these people already know Ethereum/Bitcoin, once we sucker them in, we pitch them the dogshit alt coins”

In fact if an ICO or cryptocurrency website starts off with the words “We believe in helping” it is probably a scam.

Right now we need:

*Security

*Accountability

*A way for low income people to take part in this wealth creation

*Governance

*Clarity

*Fairness

*Speedy regulation

*Speedy resolution

*Faster Transactions and currency stablization

*A few acceptable laws

As engineers that work with this technology we need to be like the scientists in Germany who refused to make poison gas. We need to be able to state:

“No I don’t want your money if there is blood on it”

There are a lot of honest people working in Cryptocurrency and Blockchain but we are all suffering due to the overwhelming stench of scumbags.

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