Blockchain technology has opened a world of opportunities for entrepreneurs and investors alike. With platforms like Cardano, innovative projects are taking center stage, attracting investments and enthusiastic supporters. However, amidst the excitement, there are instances where bad actors sneak into the ecosystem, tarnishing the image of the blockchain world and causing unforeseen harm.
I have this quandary about naming asshats and giving these leeches any attention. There are so many it’s becoming hard to keep track of all the projects that have transformed into herpes on the blockchain. A lot of these soulless sluts, continue to spew their lies across many projects, spreading their scams like genital warts. It’s nasty, and trashy and it’s not Cardano.
As with anything in life there are only 2 types of decisions. Informed or Uninformed. That’s it.
Once again (Fuck this disclaimer shit gets old) the stories shared here serve as a reminder that the world of Cardano and blockchain technology is not without its risks and challenges. By learning from these experiences and exercising caution in your decisions, you can better safeguard your money and foster a more robust and ethical ecosystem.
Oh, one more thing. If you can relate to any of the examples below because you suffered a loss, I hope you never have to experience that again.
If by chance you were the founder or a core member behind the real-life projects I am referring to, go fuck yourself!
Just because Cardano is decentralized doesn’t mean it’s deregulated.
The Promising Project That Vanished Overnight
Imagine this: You’ve invested a significant amount of your hard-earned money in a project with a compelling whitepaper and an experienced team. The project’s vision of creating a decentralized, eco-friendly marketplace aligns with your values, and you eagerly follow their progress. Then, one day, the founder suddenly disappears, the project’s social media accounts go dark, and all communication ceases.
You’ve put your trust in a project, only to watch it vanish overnight. Such events remind us of the importance of thorough research, diversifying investments, and setting realistic expectations.
The Hyped-Up ICO That Ended up Worthless
In the early days of a Cardano project, a charismatic founder promised groundbreaking technology that would revolutionize the blockchain space. The initial coin offering (ICO) attracted a significant amount of funding, and investors eagerly awaited the launch of the platform. However, as deadlines came and went, it became apparent that the founder was more interested in promoting their own image than delivering on their promises.
The constant cycle of hype and disappointment led to feelings of frustration, disappointment, and even guilt for those who had encouraged friends and family to invest. This highlights the importance of tempering expectations and being cautious about heavily promoted projects.
The Hidden Agenda: When Greed Overrules Ethics. The Project Plagued by Scandal and Controversy
In another tale from the Cardano Crypt, a seemingly well-intentioned project claimed to be focused on social impact and sustainability. Behind the scenes, however, the founder had ulterior motives, funneling project funds into their own pockets while people were left in the dark.
A series of scandals and controversies involving the founder began to emerge, including allegations of unethical business practices, deceit and personal misconduct. As a result, the community was left divided and disillusioned, with many members questioning their decision to support the project. The founder jumps from one project to the next, offering only excuses to cover the lies and the trail of fraud. The 100+ businesses all make believe, the investment and profit sharing all lies, every investment opportunity just another scam from a basic conman who is nothing more than a convicted felon who found a new group of marks to exploit under the guise of his fake image hyping; to the moon, wen mint, wagami, LFG, bullshit. Anyone can claim to be a millionaire and post pictures sitting inside a Maclaren or Lambo, it doesn’t mean it’s real or true. If anything, it should be the first indication that you are being scammed.
The impact of such deception can be significant. The feelings of anger, sadness, and disillusionment that follow can make it difficult to regain confidence in the Cardano space and may even impact willingness to invest in future projects. This highlights the significance of accountability, integrity and ethical leadership in the Cardano ecosystem.
The Mismanaged Project: A Slow and Painful Decline
An innovative Cardano-based project with a unique concept and strong community support started off on a high note. Unfortunately, over time, it became apparent that the founder lacked the necessary management skills to lead the project effectively. Poor decision-making, inadequate communication, and an inability to adapt to changing market conditions led to a slow and painful decline of the project.
This example serves as a reminder of the importance of strong leadership, adaptability, and effective project management in ensuring the success of a Cardano-based project.
Transparency and accountability are essential aspects of building trust within the blockchain ecosystem. You should expect a certain level of openness from project founders and teams to ensure credibility and reliability. Instead of relying on just discord doxing, consider the following alternatives to establish trust and reassurance in a founder:
- Verify the founder’s professional background: Look for verifiable information about the founder’s professional history, such as their LinkedIn profile, past projects, or any relevant publications. This can help you assess their experience, qualifications, and expertise in the field of business. They are running a business, but do they know how to? If you don’t know who the founders are why give them the benefit of the doubt? What if they have a criminal record for theft, fraud, or any crimes involving stealing?
- Assess the project’s transparency: Evaluate how open and transparent the project is about its goals, development progress, team members, and partnerships. A legitimate project should provide detailed information and regular updates to its community.
- Research the project’s reputation: Look for reviews, testimonials, or opinions from other investors or industry experts. Consider both positive and negative feedback but be cautious of potential biases or misinformation.
- Analyze the project’s whitepaper and roadmap: A well-crafted whitepaper and a clear, realistic roadmap can provide valuable insights into the project’s vision, goals, and development plans. A thorough understanding of these aspects can help you gauge the founder’s capabilities and commitment to the project. If a project has been on the blockchain for 6 months or more and doesn’t have a website, roadmap or whitepaper, seriously, walk away.
- Engage with the community: Participate in online forums, social media groups, or other platforms where the project’s community members interact. This can help you gain first-hand insights into the founder’s communication style, responsiveness, and engagement with the community. If you can’t ask questions or are met with hostility, just leave. It’s not worth your time or money.
- Look for third-party audits or endorsements: If the project has undergone audits by reputable firms or has received endorsements from well-known industry figures, this can serve as an additional layer of reassurance in the founder’s credibility and the project’s legitimacy.
No one wants to be affiliated with shitty people. You are who you associate with after all. When projects start creating distance from other founders, it’s because they understand the importance of social reputation and brand identity.
I can think of a few projects I won’t work with at all just because of how corrupt and unethical the founders are. And yes, I sleep great at night knowing they won’t ever have the recommendation of NFTCreative or the positive reputation being an Affiliate brings to those in the NFTCreative Ecosystem.
Cardano, in this author’s opinion is still the best blockchain and the only blockchain to build on, even with the occasional asshole roaming around.
HUMPDAY SPACE 