Smart contracts have yet to do anything except grift people
Yeah that's literally cool but generally very unfeasible and shutting on guys for seeking support is stupid when you can ultimately end up with a product that doesn't have proper longetivity without it (this is why people fundraise to begin with)
Compound is custodial wallets, all I need to see to know it’s a scam
Lol they're literally a FOSS staple and fuck cefi until you show me a bank account that comes near the rate of inflation I can make the assertion that banks are just grifting people
Yes bank interest rates are a form of grifting that’s why you don’t keep large amounts of cash around except for emergency fund and covering bills for 6 months or a year
I was just citing compound as a source of FOSS smart contracts that are implemented in many places and basically drive billions in defi use. The guys behind openseas are another example
Open sea, literally 99% NFT grifting scams
Sure but then it's more fair to say that everything's a grift and not give normies the idea that crypto is some unique and horrible form of grift
Yeah that is included with my 99% and I would agree
No it’s just ■■■■■■■■ to put your money in anything else but those 3 coins
Idk you'll still be subject to arbitrage and the growth rate of their value might not surpass inflation but you're not wrong that that is basically coming closer to gambling
I don’t even think NFTs are fundamentally scams, but I do think most NFT projects are in best case a slow motion rug pull
Yeah none of them want to fulfill their roadmaps and NFTs themselves are not a grift, just the super functionless. You can make an argument that things like bored apes aren't a total grift because they basically create an exclusive room for people with 250k liquid that allows you to sell your access whenever you want
If you don’t have control over your own keys, you are being scammed, if the coin you are investing in had to pay developers to develop it, you are being scammed, if they took outside investment in and reserved the tokens for themselves, investors, or just reserved them at all, you are being scammed
Functional NFTs will be super significant in the future but won't come around until the government says what is allowed and unallowed there
Only the first is really relevant or true and if anything is worse because if they have key access it's still basically ready to be scammed. The others are purely situational and not worth evaluating in a black and white fashion
BAYC is hilarious because it’s basically like you buy this 250k access pass and youre now in on.the scam and the devs give you free versions of the future NFTs they create meaning you get free money from them scamming people
Yeah that's a common NFT tactic now and not one I love but the access pass isn't going to disappear. Theoretically you could buy the pass, make connections quickly and sell it before it's value really fluctuates, and chances are if you were smart about it that you made more value than whatever the cost of the passs value has changed
Also the minting process behind these NFTs are literally using methods slot machines use
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Made connections with who lol Paris Hilton?