Ethereum

1999: "Amazon is silly. It will never work"
2025: "All crypto except Bitcoin is a scam"

andyjagoe.com // denim.vc // tokenizing real-world assets / onchain venture funds @fairmint

I really hope ETH isn’t a scam, but honestly, my faith in it is starting to fade a little.

ETH is no more a scam than an early stage startup is a scam

Despite price action, incoming regulation and benefits of stablecoins mean tomorrow's financial products will more likely be built on crypto rails than ever before

As Buffet said "be greedy when others are fearful and fearful when others are greedy"

Early stage startups are 100% scams, scam-y, or scam adjecant

everything i write here is financial advice

It's true: most startups fail. That does not make them scams. Startups are the best known way to try new ideas, keep incumbents from extracting excessive rents, and reward those willing to take risks.

When the early VC operating procedure is 1 investment to recoups losses of 9 others, that’s a casino

When the actual folks at Sequoia all have hard-ons for the same book— “Casino Design: Resorts, Hotels, and Themed Entertainment Spaces” by Justin Henderson—that’s a casino

You could argue a casino is not a scam, which is true, they’re just mostly illegal