Deception and Utility in Crypto.

Deception is common thing in any society but it is wild in crypto market. Lot of social media gaints, Evangelists did advocacy some projects purposely by getting paid for it to propagate the things. They invite their followers for investment and unfortunately people follow them blindly.

Deception of crypto gets triggered by fake campaigns, attractive airdrops and giveaways, high returns promises, yummy referral incentives and payback initiatives. Such are real snakes in crypto and destroying it's mass potential.
Recent years we witnessed huge loses of wealth in celcious, blockfi, Terra Luna and FTX as big fishers.
If we remember the first ever big Ponzi scheme of crypto, it was "Bitconnect" of 2018 which was in top 10 as Market Capitalization. When just before collapse in early 2017 some voices rise against it , the big mouths of Bitconnect were not giving permission to investors on believe those voices. Bitconnect issues legal warning to some of them to stay away. So they use every tool to keep people interacted till last penny in pocket.

Oppositely very less accounts on social media who talk about the facts and constructive crypto domains. It becomes full responsibility only to investors to check the credibility of the coin / project and ask some questions to himself.

• What I know about this coin
• What is means of financial freedom.
• What is its censorship resistance.
• What is the origin and depth of the coin.
• What is its capability of P2P.
• Who is The core and audit team behind the project.

If we saw any person /group/, account propagating about any project, check how much they are interested in gambling and speculation. Are they have verified credintials?

Deception in crypto in illimitable where ever greed of richness overnight exists. They masters knows how to play with sentiments and emotions of the people especially who didn't know the risk involved.Keep your assets under your own wallet only in long term strategy.

Utility of crypto.
Satoshi created crypto with a specific aim to build a Blockchain cash system alternative to fiat cash system. Although people still believe that Bitcoin is only for rich people to invest/ hold and trade but last two halving gave us best utility tokens to sell/ buy , purchasing in SATs even. Bitcoin cash ( BCH) and BSV are examples of it . Latest other coins like Solana and lite coin also added in group which brings easy , fast and micro amount transaction enabling.

The awareness of crypto in people getting deep roots and they started believe that crypto is not only an investment but it is best for utility. So crypto adoption gone massive and it's utility rising around. People are buying coffee, Grocery, pizza, electronic and even bottle of bear by payment in crypto. Need to choose best coin to buy which has good adoption, cheaper in transit ( lowest fee) and speedy in Time. Millions of people from poor countries like Venezuela, Argentina, Nigeria, Philippines, Salvador and Brazil experiencing crypto in their daily purchases. So utility portion is on trend in mass adoption rather then speculations.

"Satoshi created crypto for everyone , for whole nations and each one has right to utilize it in perfect way."

That's all for today. Thanks for your time to read till here , Press Thumb to wow , leave comments for feedback.

Cheers,
Amjad

Lead image: Pixabay