A friend of mine just shared this link with me.
https://bitcoinist.com/ethereum-insider-big-reveal-48-hours/
Discussion
I'm always wary of claims like "bigger than FTX".
While certainly possible, hyperbolic claims like that will destroy any interest in anything less.
Yes, hyperbole is not something I like either
People say some crazy shit after a meth bender...
Seriously, who would really give money to such a freaky looking tweaker ?
Not me that’s for sure. But did you read the article?
Just read it... sounds like something any with half a brain, paying a small amount of attention would realize: Ethereum is securities fraud.
Yes, for sure. One just needs to hear the origin story to realize that.
But that guy must think he has something else, don’t you think?
Otherwise, what’s all this circus for?
I assume the real story is A16Z got massive amounts of money from a major U.S. bank that holds shares in the Fed ( probably CITI bank if you made me guess). A16Z was then tasked with launching scam coins as a sort of affinity attack on bitcoin. They found some idiot tweaker who has no morals and threw huge money at him to make a shitcoin machine to launch 1 million shitcoins. A16Z then pumped and dumped these coins to create a huge hype cycle pulling in dummies and then rug pulling them. This was designed to leave a bad taste in the publics mouth for "cryptocurrency" and seed the space with fud.
This is wild speculation, but based on the malicious nature of banks in this country I assume this was their best plans to "sink" bitcoin.
I would put money on odds of this being overblown and under-substantiated
Yes, I can totally can see this announcement amounting to a nothing burger
Sounds like hes about to scam some idiots.
Who? Vitalik? He’s been doing that 8 straight years. But that’s not what the article is about.