Why is everyone on this planet so greedy?
While we have seen a scammer like Do Kwon getting reported to the authorities by his on employees to the SEC, it proves that the regulators are not going to sit around and let him get away with it. That is the whole point of why crypto regulations are coming, just like they did for regulating ICOs in 2018.
The same is true when one tries to 'hide' their funds using a blockchain with a transparent ledger or if they are trying to cash out stolen funds to exchanges which regulations have introduced KYC, AML checks on them if the hackers / scammers try to send the hacked funds to custodial wallets.
So in reality, it is getting harder for scammers and criminals to actually cash out the funds and anyone can still technically trace the transactions on these blockchains.
I remember a story from The Unwomanly Face of War where a woman, so enthralled with Communism, sends her own young daughter to deliver a bomb to a house being used by German officers. She was happy to sacrifice her daughter for communism in this way.
When I read that, I couldn't believe it. The thought of believing something with so much conviction is completely foreign to me. I was jealous in a way. But for me, earthly pleasures are all I have to focus on.
The car you drive, the central AC you enjoy, the delivery food you'll eat this week? All of that is extreme luxury and unnecessary by someone else's standards.
There's no shame in working super hard and making lots of money. but sadly, not all hard work is equal.
I guess this is what I'm alluding to.
Crypto is fun, but most things are obscure ponzis
Ponzis are unethical, and wrong, and it always should be regardless of who is doing it and whether someone is benefiting from it.
I find crypto useful and innovative. I find making money through ponzis disguised as innovation wrong, they happen to be using crypto. That's what Luna was.