🚨 Cato take on worldcoin bullshit 👇
Worldcoin: A Dystopian Venture with Dangerous Implications
In the fantastical realm of cryptocurrency, where digital unicorns prance across blockchain rainbows, a new contender has entered the arena: Worldcoin. Supported by Sam Altman, this initiative has stirred a whirlpool of controversy and criticism. But don't let its promises of financial inclusion deceive you - beneath the surface lurks a far more ominous reality.
An Orwellian Reality?
Worldcoin has introduced a "proof of person" technology that employs an iris-scanning device, endearingly named the "Orb," to authenticate users' identities. It's a concept straight out of a sci-fi novel, except it's not fiction - it's happening right now. The use of biometric data, such as iris scans, raises a plethora of privacy concerns. This data could potentially unveil far more than just a person's identity - it could disclose their gender, ethnicity, and even certain health conditions. And here's the real kicker: this biometric data becomes the property of Worldcoin. Yes, you read that right. Your data, their property. The potential future uses of this information are as limitless as they are alarming. Could it be resold? Used for undisclosed purposes? The conjectures are as boundless as they are disconcerting.
Tokenomics and Centralization: A Crypto Oxymoron?
Worldcoin's tokenomics have come under fire for their apparent lack of decentralization. The project has established a cap of 10 billion WLD tokens over the next 15 years. At launch, the maximum circulating supply of WLD was 143 million, with 43 million allocated to pre-launch verified users and 100 million loaned to non-US market makers. However, a whopping 75% of the tokens have been reserved for the community. Seems a bit contradictory for a project that champions decentralization, doesn't it? But there's more. The circulating supply of WLD was capped at 143 million tokens at launch, which the whitepaper acknowledges as “relatively low” compared to the 10 billion token cap. The document rationalizes this by stating that “this is due to the goal of creating a network of as many human beings as possible.” Ah, the good old 'for the sake of humanity' justification.
Market Manipulation: A Spectacle Worthy of Wall Street
Accusations of market manipulation have been levied against Worldcoin's token, WLD. The token's price movement has been attributed more to market manipulation than to organic activity. The initial token distribution for WLD has also drawn criticism. Worldcoin displayed unusual transparency in disclosing the details of their agreements with market makers, revealing plans to distribute 100 million tokens to these firms compared to a mere 43 million to retail users at launch. It's akin to being handed a slice of cake, only to discover that others have been served the entire cake.
Conclusion: A Future Shrouded in Uncertainty
In conclusion, while Worldcoin has been marketed as an innovative solution for financial inclusion, I am of the belief that the project is potentially dangerous and dystopian. The concerns surrounding the use and storage of biometric data, the centralization inherent in the tokenomics, and the allegations of market manipulation underscore the risks associated with this project. Moreover, the true objectives of Sam Altman and the other founders remain shrouded in mystery, and their ambitions could potentially extend far beyond the confines of this project, possibly even into the realm of political aspirations. So, I leave you with this question: is a handful of digital tokens worth surrendering our sovereignty over our biometric data?
The decision is yours.
swisscryptocat / Swiss Crypto Cat
npub13t…t8afs
2023-07-29 10:53:06
Author Public Key
npub13t9tfl23y7wn77tqahpmpy2x7vhn2sll5fz2ndu68jktxyazxklsst8afsPublished at
2023-07-29 10:53:06Event JSON
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"content": "🚨 Cato take on worldcoin bullshit 👇\n\nWorldcoin: A Dystopian Venture with Dangerous Implications\n\nIn the fantastical realm of cryptocurrency, where digital unicorns prance across blockchain rainbows, a new contender has entered the arena: Worldcoin. Supported by Sam Altman, this initiative has stirred a whirlpool of controversy and criticism. But don't let its promises of financial inclusion deceive you - beneath the surface lurks a far more ominous reality.\n\nAn Orwellian Reality?\n\nWorldcoin has introduced a \"proof of person\" technology that employs an iris-scanning device, endearingly named the \"Orb,\" to authenticate users' identities. It's a concept straight out of a sci-fi novel, except it's not fiction - it's happening right now. The use of biometric data, such as iris scans, raises a plethora of privacy concerns. This data could potentially unveil far more than just a person's identity - it could disclose their gender, ethnicity, and even certain health conditions. And here's the real kicker: this biometric data becomes the property of Worldcoin. Yes, you read that right. Your data, their property. The potential future uses of this information are as limitless as they are alarming. Could it be resold? Used for undisclosed purposes? The conjectures are as boundless as they are disconcerting.\n\nTokenomics and Centralization: A Crypto Oxymoron?\n\nWorldcoin's tokenomics have come under fire for their apparent lack of decentralization. The project has established a cap of 10 billion WLD tokens over the next 15 years. At launch, the maximum circulating supply of WLD was 143 million, with 43 million allocated to pre-launch verified users and 100 million loaned to non-US market makers. However, a whopping 75% of the tokens have been reserved for the community. Seems a bit contradictory for a project that champions decentralization, doesn't it? But there's more. The circulating supply of WLD was capped at 143 million tokens at launch, which the whitepaper acknowledges as “relatively low” compared to the 10 billion token cap. The document rationalizes this by stating that “this is due to the goal of creating a network of as many human beings as possible.” Ah, the good old 'for the sake of humanity' justification.\n\nMarket Manipulation: A Spectacle Worthy of Wall Street\n\nAccusations of market manipulation have been levied against Worldcoin's token, WLD. The token's price movement has been attributed more to market manipulation than to organic activity. The initial token distribution for WLD has also drawn criticism. Worldcoin displayed unusual transparency in disclosing the details of their agreements with market makers, revealing plans to distribute 100 million tokens to these firms compared to a mere 43 million to retail users at launch. It's akin to being handed a slice of cake, only to discover that others have been served the entire cake.\n\nConclusion: A Future Shrouded in Uncertainty\n\nIn conclusion, while Worldcoin has been marketed as an innovative solution for financial inclusion, I am of the belief that the project is potentially dangerous and dystopian. The concerns surrounding the use and storage of biometric data, the centralization inherent in the tokenomics, and the allegations of market manipulation underscore the risks associated with this project. Moreover, the true objectives of Sam Altman and the other founders remain shrouded in mystery, and their ambitions could potentially extend far beyond the confines of this project, possibly even into the realm of political aspirations. So, I leave you with this question: is a handful of digital tokens worth surrendering our sovereignty over our biometric data? \n\nThe decision is yours.",
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