One of the better docs about crypto, NFTs, Web 3.0, Axie, etc…on youtube

[needmyangel]

Stumbled across a video doc made by Youtuber, James Jani, about the interconnected web of crypto, blockchain, NFTs and more… Is it all a scam? or we’re just not seeing the bigger picture… I invest in a couple of cryptocurrencies and although the video paints the space mostly negative, production value of the video is just too good and just wanted to share it to more people.

Enjoy!

 

[pofo2020]

@needmyangel Not all crypto projects are a scam, of course. But finding a legit project is like finding a needle in a haystack, multiplied by a factor of 100 or something. For every one legit project you find, there will be like 100 rug pulls, crypto-fueled ponzi schemes, shitcoins and NFTs with no real utility, and centralized crypto exchanges misappropriating customer funds.

This is why I prefer to stay away from crypto, in general. There's a lot of better investment vehicles out there, with an emphasis on INVESTMENT. Crypto is NOT an investment. It's a speculative digital asset that has no intrinsic value attached to it. As long as you are aware that putting your money in crypto is pure speculation, then by all means, go for it. But don't go into crypto thinking that you are "investing".

 

[bibletruths]

@pofo2020 And just because it's "legit" doesn't mean it can't fail. Same as with pyramiding coins, just cos it's tokenomics is BS doesn't mean people aren't making money from them.

 

[resjudicata]

@needmyangel im not crypto expert but anything to do with crypto, blockchain, and NFTs are considered start-ups and it is very risky. I'll probably wait for some time before mass adoption happens.

 

[resjudicata]

@needmyangel The crypto world is full of bad actors kasi kaya mostly negative ang opinion ng mga tao especially when it comes to NFTs.

Madami ding projects na if hindi scam, would just straight up fail. Kaya ako ever since I just stuck to the big bois and treated the crypto market like stocks on crack.

Personally this is what I did. Puro trades lang ng Bitcoin, ETH, and other well established coins. I pulled out most of my coins nung pacrash na to make sure that I'm still in the green and ngayon na bagsak yung market I just buy some from time to time using money I am alright to lose 100%.

 

[kimbri]

@needmyangel The technology of crypto is great. But if you're looking to get into crypto solely for the purpose for earning money, then 9/10 ur going to lose than get some

 

[needmyangel]

fellas lets keep it civil... its one person's opinion on the space hahaha daming gigil dito

 

[musicismyreligion]

@needmyangel Andaming cryptobros dito hahaha all crypto is a ponzi scheme in short scam!

 

[terryg84]

@needmyangel Thanks for sharing!

 

[mark7]

@needmyangel blockchain is not a scam. nasa trial and error stage plang kaya ganyan nangyari ngaun. cguro in 10 yrs more pa para mag mature sa market ang blockchain. dami pang research and development for scaling, interoperability and security.

 

[ignissus]

@mark7 It’s not a scam, but 99% of the “products” that use it are (constructively) scams.

 

[musicismyreligion]

@ignissus With everything that happened, make it already 100%>

 

[mark7]

@ignissus same with the early stage of internet maraming scam na projects. takot pa nga dati mga tao maglagay ng bank info nila dati sa website, ngaun puro online shopping na ginagawa. kelangan lng education para sa mga consumers lalo na hindi pa regulated ang blockchain.

 

[ignissus]

@mark7 It’s an entirely different situation. When payments were a problem, it wasn’t like 99% of potential purchases were scams and that regulation came in and saved the soccer moms from losing money and the rest was history.

Most of the early web was genuine and good faith.

Most of the blockchain projects right now are not genuine and good faith. And if regulation were to enter the sector, it’s not a matter of protecting soccer moms from a small, segregated cohort of invalid transactions with clearly bad actors.

 

[mark7]

@ignissus yan akala mo. im not talking about meme coins or kahit anong project jan lol
. blockchain for me is the future for transaction , auditing, logistics. nasa development stage palang. kahit amazon and IBM may blockchain developers na sila. Blockchain is not just for sending coins and nfts

 

[ignissus]

@mark7 But blockchain for those things is already available and needs no regulation to be adopted?

The challenge you’re talking about isn’t the technology, but in making retail people use it and pay for using it. That’s different.

 

[mark7]

@ignissus nasubukan mo ba mag wire transfer Versus sending bitcoin or any stable coin? sa wire transfer aabutin ka pa ng 1 week bago mag clear ung transaction. sa crypto less than 30 minutes anjan na.

need ng regulation ang blockchain kasi ung network or projects is usually non-custodial dahil nga decentralized(wild wild west market). ung projects na pwede maimplement sa blockchain is maraming classification. Bitcoin for example is not the same as Etherium. bitcoin only offers peer to peer coin transaction which is hindi sya ma-consider as security while Ethereum or Polkadot for example is hindi pang peer to peer coin transaction ung main purpose nya. Ung network nila is for smart contracts na pwede sya ma classify as software or di kaya security lalo na nag ICO before na-implement sa public.

Blockchain is like internet marami pwede gawin. ung iba jan akala nila blockchain and bitcoin is the same lng.kaya may bitcoin maxis or di kaya eth maxis.

nasa development pa naman ung mga projects ng blockchain. kung naguguluhan ka masyado pwede mo ikumpara ang Bitcoin sa Swift payment system, visa or mastercard. Ung Ethereum pwede mo sya ikumpara sa operating system like Microsoft.

 

[godisgreat316]

@mark7 You're both talking about the same thing, dammit. You're just focused on the future benefits, while the other is focused on the current problems.

You're both right.

 

[mark7]

@godisgreat316 the purpose of blockchain is not just sending coins or sending art from one address to another . in early days of internet, sending emails was "the thing" cuz it was the simplest thing to do. blockchain is more than what bitcoin or ethereum offers lol. i would say give it a time like 10 more yrs or more before calling it a scam. internet was publicized before 1990 and it took decades in the making.

 

[musicismyreligion]

@mark7 After 10 years, internet was basically established na. After 14 years, crypto is still a ponzi scheme. It's still a solution looking for a problem.