With El Salvador’s Bitcoin-at-gunpoint scheme hitting roadblocks, concern over NFT money-laundering, and the continued existence of Richard Heart, many feel crypto needs a fresh injection of credibility.
“I kinda miss the days when Dentacoin and Bitconnect were around so at least there was some kind of veneer of credibility to phony crypto projects” Said crypto superfan @pumpmybags420 on Twitter.
His concerns are shared by many who feel the current projects don’t even try to pretend they have a viable product or business model. An anonymous source told TST,
“The older projects got pretty good at posting auto-generated whitepapers, cool graphics showing lots of lines connecting stuff, making YouTube channels with phony videos, and talking about future use-cases they’d never build. These new projects don’t do anything. The standards for grift have become embarrassing.”
As of press time, there’s no word as to whether some of the older projects will be resurrected, but the OGs of crypto Ponzi feel this new crop is getting away with half-assery, and many feel they may eventually step in to show them how it’s done.
