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Well, sure you read of those ho game the system and get away with it, but like with ideas, for every one that succeeds there are hundreds of thousands or more that fail more or less spectacular and we rarely hear about them.
Its a bit like lottery, a very few lucky get rich, the rest mostly loose money.
Doing honest work might not give the same big kickback, but your much more likely to be one of the winners coming out wit more money than you put in. -
It's because people who participate have no fucking clue how the whole thing works, what are the limitations, etc.
NFTs are just links to content on someone's server, and there's no other proof of ownership? Let me spend millions buying them.
Blockchain / PoW is too slow to be used directly, so all transactions are made through centralised APIs? Let me upload my wallet to this API where some kid can hack it and steal everything.
People are pumping some token with no actual value or practical use, and with no improvement over existing tokens, with majority of supply owned by a single entity? Let's jump on the bandwagon, I'm sure it won't crash the moment the major owner decides to exit the scheme.
These are the bare fucking basics, and people falling for them have to face the consequences of being dumb. That's all there is to it.
The more i work dev stuff in web3 the more i realize how cancerous this space is. Shits terrible over here. Not only is it extremely difficult to program but the biggest.... Idk whats the best word to use, irritating? Annoying? Stressing? Degenerate? Biggest shit thats happening are scams scams and fucking scams. Honestly you never know who's legit and who's about to scam
A 16 year old kid rug pulled 6 nft collections and stole over 10 million dollars so far. He's even arguing on twitter publicly claiming he's the Batman
People are robbing everyone for millions of dollars
You've probably heard about Luna ponzi scheme that collapsed and the founder stole BILLIONS of dollars
And the worst part about all of this:
THERE ARE NO CONSEQUENCES! WTF?
So why the fuck should i work a job and try to be legit if i can scam degenerates for millions of dollars because there are no consequences??
rant