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Overleveraged CEX's, a 40 billion crash with a Founder on the run, more than $3 billion stolen in hacks and stablecoins that are on the verge of collapse. Nah! Mass Adoption can wait, we got bigger problems to solve first!

All Cryptocurrencies

by COINS NEWS 142 Views

This is just a short overview of the state of Crypto in 2022.

In short, a massive shitshow runned by criminals and psychopaths that left millions of regular retail investors in shambless as a majority of them lost their hard earned assets forever.

The only and main purpose of cryptocurrency is to give people a chance to control their financial assets without a middleman, or in other words without a centralized figure such as a Bank, that would hold custody of their assets.

Why?

Because of 2008, as millions lost everything within seconds.

Why?

Because of unimaginable greed driven by a group of people that already had everything.

Result?

Nobody ever took responsibility for it. NOBODY!

14 years later, here we are...

We gave away a unique decentralized world, a gift from Satoshi, to a small group of people that are running a centralized system without any regulations and without any transparency.

We gave birth to the worst kind of scumbags and manipulators that this world has to offer. A group of people that never had any morals or empathy. A group of people that is rugpulling your assets as it were a fun video game

It could be worse said SBF a couple of days ago...yes Sam, it could be worse.

Mainstream media, Joe Rogan, WSBs and the entire crypto critics population is enjoying this circus from a warm couch and laughing at it as hard as it gets.

"I told you, crypto is just a big Ponzi scheme" this would be a typical quote from the everyday Joe who hates crypto even though Joe doesn't even know what a blockchain even is.

and you know what?

The everyday Joe is right!

We are consumed by a big Ponzi Scheme that has been running in full force since the collapse of Mt.Gox, which nowadays looks like a small accident compared to these recent crashed of FTX, Luna, Celsius etc.

Our DeFi became a centralized paradise for the greedy Wallstreet coke addicts who are just waiting in line for an opportunity to flip a couple of millions during a lunch break.

No wonder why so many big institutions suddenly became so interested around crypto, NFTs and Metaverse!

You wonder why?

Because there are no fucking regulations, no rules applied, take it all and take it quick! Welcome baby to a Wild Wild Centralized West!

We lost track, we are losing DeFi and we are losing a wonderful idea that just wanted to give the everyday Joe an alternative and an option to become the sole master of his hard earned assets without any greedy person standing in between to gamble it away.

We don't need Mass Adoption now.

No!

We need a reality check. We need a plan. We need to return back to the basics

We need DeFi now more than ever!

submitted by /u/vjeva
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