El Salvador's crypto experiment ends in failure

I worked at a crypto company and left after I realized that 99% of crypto are scams. Either people get rugpulled or they get their wallets emptied by scammers, and I don't think Apple would have survived if the iPhone was a hotbed of scams. There's a tiny sliver of activity which isn't purely scams, like BTC or ETH but even then there's almost no real use case except the Greater Fool Theory, and I just don't think that's sustainable. I think at some point the entire industry is going to get rugpulled because there's still no inherent demand except selling it to someone else for more money.

BTC aside, the rest are scams. As for BTC I went to this presentation at Princeton University in late 2024.

BTC isn’t perfect but often enough it’s better than centralized alternatives.

https://www.princeton.edu/events/2024/book-talk-resistance-m...