The Crypto Conundrum: Are We Innovating or Just Gambling?

It’s undeniable that the crypto ecosystem is expanding at an unprecedented rate. New projects and blockchains are being launched daily, each promising to revolutionize the industry. But it begs the question: do we really need this many projects and blockchains?

I’ve noticed that many of these projects don’t seem to solve any significant “problems”. Instead, they appear to be part of a cycle: a project is launched, some quick profits are made, and then it slowly fades into obscurity, its value dwindling to zero. This cycle repeats itself over and over again, leading me to wonder if the crypto ecosystem is turning into a gambling ecosystem.

However, it’s not all doom and gloom. There are projects out there that are genuinely trying to solve real-world problems. For instance, there are blockchain projects like Civic, which focuses on digital identity verification, and Ripple, which aims to improve cross-border remittance services. These projects show that blockchain technology can be used for more than just quick money grabs.

But these seem to be the exception rather than the rule. In my opinion, it feels like 99.9% of these projects are just about making a quick buck. It’s a pump and dump scheme on a massive scale.

What are your thoughts? Do you know of any projects that are solving real problems? Or do you agree that most of this is just a quick money grab?