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One of the biggest scams in crypto is the number of people that call non-scams, scams.
“Scam” is so overused in crypto that it’s lost all meaning & confuses the broader public, to the detriment of *all* cryptoassets.
Scam = a *dishonest* scheme. Just because something appears naive or foolish in retrospect, does not mean the original intent was dishonest.
Most new things turn out in retrospect to have had foolish components, teaching lessons to the entity that attempted the “new thing.”
Every child goes through this process, but that doesn’t mean every child is a scam artist.
Use the word scam where *dishonest intent* actually applies, and it will protect crypto more. Same with Ponzi, per that word’s technical definition.
Don’t use the words because you have a vested interest or are too lazy to expand your vocabulary.
Thanks to @paulvigna for calling me out once when I said, “The whole world’s a Ponzi.” He pointed out it was inaccurate wrt the actual meaning of the word, and therefore misleading to use, provoking the above reflection^ 🙏
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