CRYPTO is “MORDOR” of the lords of the rings.

Disclaimer: I wrote this article in 2021, but I have been hesitant to publish it because I am a person who prefers to avoid conflict. I become very vulnerable and insecure when people dislike me or question my motives, so I kindly ask for your understanding even if you disagree with this article. Please note that this piece has been written in my personal capacity and is not related to any of the projects I am involved in.

A few months ago, I had a transformative experience in Lebanon where I witnessed the resilience of the people in war-torn areas who continue to strive for a brighter future despite immense challenges. The horrors of the past that I saw reinforced the realization that we live in a world built on falsehoods. It is crucial that we all raise our voices and reject this chaos that surrounds us.

The world is on fire:

• Money is no longer money.
• Climate change is a real and absolute danger.
• Degradation of moral values.
• The crypto world is super greed driven.
• World War 3 is ongoing, this time it’s not a war with bullets but mainly fought with data & money.
• It’s super hard to find real factual information (check the deep fakes, data manipulation scandals, …)
• Our current internet is broken, owned by few, unequal, controlled, we became a product.
• Many countries themselves are getting enslaved, there is barely any media coverage about this. 7 African countries were taken over by coups, mainly driven and financed by corporations and centralized power/money.

I NO LONGER WANT TO IGNORE THE LIE WE LIVE IN.

Before I start my personal rant…

• I believe in DAO’s = Decentralized Autonomous Organizations, this represents an incredible evolution.
• I believe in blockchains as a store of value or consensus mechanism around very well defined use cases.
• I believe in the good of 99% of people, most are just afraid & misguided, we need to stand up and fight.
• I 10000% believe a true decentralized system can be built and solve a lot of issues we face today.
• I believe there are thousands of white hat hackers in the crypto world, see section below …

We believe that most people have genuine intentions and are committed to using digital currencies and decentralization technologies to effect positive change. We must unite to create a new iteration of Crypto and the Internet as a whole. The truly valuable projects are not solely about technology, but about making a positive impact on the world and improving people’s daily lives. Our responsibility as engineers is to use our skills to aid individuals in their efforts to effect real change, using simple, reliable, and eco-friendly technology.

Personal Crypto Rant

Crypto virtual world, you became like “Mordor” in Lord of the Rings. You, Crypto World, are mainly built based on ego, lies and greed, you manipulate and lure people to come into your virtual crypto casino. You bring the worst out in people. You ruin millions of young talented people. You abuse the fact that the world is in such a difficult state. Young people looking for hope are tricked to join your world based on the language of decentralization and freedom.

Crypto Slaves, escape, let’s go back to the origins of the Internet, a world, based on values and no lies. Blockchain is not the holy grail, peer to peer direct connections between people should be enabled by technology not dominated by it.

HOW MANY OF YOU CRYPTO MASTERS REALLY DARE TO BELIEVE IN A BETTER HEART- DRIVEN WORLD WHERE EVERYONE CAN BE EQUAL, AND NOT THE FEW RULE ALL AND MAKE MONEY ON OTHERS.

Many of us were tricked into this promised land, and once inside this modern “Mordor” we got stuck with feelings of power and greed. Many of us believe we deserve this, that we are smarter than the people around us. We use the world situation as an excuse, we ignore the grim reality of our crypto world. If we continue, we will be defeated and become a slave of Mordor.

Some quick facts about what the current crypto world became:

• most crypto projects are not decentralized
• many of the projects do nothing else than supporting the crypto world, it’s completely inward looking. Many crypto projects don’t doing anything useful for the real world.
• Large majority of traffic in the crypto world is fake & self generated (fake trades, fake web3 api calls).
• A significant portion of NFTs are fraudulent with no actual value. The technology behind them is not innovative either, as the concept of using a key to identify something has existed for over 30 years. These NFTs operate like a pyramid scheme, only benefiting the wealthy even more. It’s not shocking that venture capitalists are fond of them. The so-called decentralized projects that have achieved success are mostly backed by VCs, undermining their claims of decentralization.
• 90% of the claims used are unreal and just marketing hype.
• It is not efficient to use blockchains as a generic compute/storage system with the aim of replacing the internet.
• Some DAOs serve to evade laws. They are governed and influenced by a select few, and are frequently less transparent than their real-world counterparts.
• When it comes to creating a DAO, advanced technologies like blockchains are not always necessary. In fact, old technologies such as peer-to-peer networks, Git, and PGP can be just as effective. Just because something is old doesn’t mean it’s inferior.

Prove me wrong

Identify over 10 cryptocurrency projects in the top 100 that offer tangible and sustainable value beyond their use as digital currencies or DEFI for which Blockchain is really required.

• We do not require digital money systems that are solely intended for trading as they resemble pyramid schemes and are essentially gambling. It’s essential to identify which of these digital money systems are practical and applicable in our world today.
• A blockchain, DAO tool, or digital currency system is simply a tool and should be freely accessible. The real value lies in the ecosystem of projects that provide tangible benefits. There is no justification for billions of dollars going to the creators of a tool, as it’s just a few lines of useful code that isn’t as complex as they make it out to be. Much of it has been unnecessarily complicated.

For those projects maybe some questions worth asking?

• What value do they bring to the world we live in, and can they improve the lives of actual individuals in less than a year?
• Is the product tangible and functional now, or is it just theoretical with convoluted white-papers justifying its complexity?
• Check whether there is a real correlation between their market capitalization and the value of their current or future product, instead of believing in the hype created by so-called “stars”.
• If a project has high trading volume but no real product or value offering, it’s likely due to speculation. In that case, the project’s true product may just be a pyramid game. It’s important to look beyond trading volume and consider the actual value the project provides.
• Does the project have clear and comprehensive documentation on how their product can be used in the real world, or is it primarily focused on aspects like their validators, tokens, DAOs, and voting mechanisms?
• While it’s good to see projects offering value to the crypto world, the issue remains that working towards something in a flawed system does not address the larger problems in our world.

Note about NFT’s

Creating a virtual object out of thin air, selling it back and forth among friends, inflating its value and then profiting from it on marketplaces may seem like an easy way to make money. However, we must consider the legality of NFTs that are linked to real assets like artwork. If multiple people claim ownership of an asset through an NFT, it could be considered a security. Alternatively, if an NFT represents a pre-purchase of something, it would fall under different legal rules. This begs the question, how can this be possible? Perhaps by leveraging the decentralization of DAOs, some are able to evade regulators.

CRYPTO WHITE HACKERS: fire is fuel for change, water for growth

Dear Crypto White Hackers, I have had the privilege of meeting some of you in the crypto community. You possess a profound understanding of the system and enjoy using your skills to disrupt it. Your belief that crypto can revolutionize the status quo is admirable. You recognize that money can be raised and redistributed using this technology, and you do not seek personal gain. Money is merely a tool for change in your eyes.

I agree that destruction can lead to new realities, but I do not believe that war or conflict is a solution to any problem. Like many spies who become double agents and become entangled in a complicated web, good intentions can be lost or even make things worse. I believe that using darkness to create light can only result in a suboptimal outcome, with a lot of collateral damage and compromises.

Personally, I believe that change requires a certain level of disruption, but once that disruption has occurred, stability and growth are necessary. Disruption is like fire, providing the initial energy for change, while growth is like water, fueling the continued development. I think that the crypto industry was in its disruptive phase for a while, but now it’s time to shift towards a more stable and conscious approach, utilizing the power of water and growth.

Why not use your skills, experience, and resources to create a sustainable foundation for the future? It’s time to cultivate and grow with sustainable and environmentally-friendly methods. Let’s collaborate and work towards a brighter future.

Note in relation to current Crypto Crash

This article was written last year, before the recent crash in the crypto markets. It is now clear that something is not quite right. In my opinion, many crypto projects will continue to suffer losses; we have not yet reached the end of the crisis, and the bubble has been inflated far too much.

However, it’s important to remember that there are some excellent blockchain projects out there, and they will likely emerge as the winners of this new era. We can draw parallels with the 2000 crash in the internet industry; although many companies disappeared, the internet itself only grew stronger.

Looking ahead, I predict that there will be a great deal of regulatory oversight, and this could be a good thing if it’s done properly and not abused.

Money is a drug, some crypto projects are like the drug dealer.

Crypto was a type of legal casino where the average person cannot win. Many crypto users were probably still are addicted to their screens, hoping to hit the jackpot.

However, imagine a world where people and the planet come first, and money is just a tool to support beautiful projects. Today, money is often seen as the end goal, which is a problem. Money cannot buy happiness and can become like a drug, causing some to focus their energy on acquiring as much as possible.

While I love the promise of blockchain and crypto, I don’t like what the crypto world has become. It’s time for a serious cleanup, similar to what happened in 2002. However, I remain hopeful that the great blockchain projects will survive this crash and pave the way for a better future. I believe that there will be more regulations in the future, and if implemented correctly, they could help prevent abuse.