Want to Know the Cons of Web 3.0 Crypto? Ask Molly White.
What to consider before investing in crypto.
Photo Credit: Web3isgoinggreat.com
Here at Don’t Count Us Out Yet, we have to admit that since we started covering Web 3.0 and how cryptocurrency might become a dominant force in the financial world, we probably drank a bit of the Kool-Aid offered by the venture capitalists and trendsetters, such as the Bored Ape Yacht Club founders. Also, we believe major problems, such as security and environmental issues, are present, but could be solved soon.
However, with our duty to practice unbiased journalism, we’ve been on the lookout for for who is stating the negative case for what’s coming in crypto’s future. It wasn’t until now that we found a case meeting our expected level of investigative research.
Readers, meet Molly White, creator and researcher of Web 3.0 is Going Great. This 28-year-old enterprise software engineer, has the practical background of a great investigative journalist.
Since White was 13 years old, she would research and correct Wikipedia articles and political websites. Now, White has over 15 years of fact-checking experience, bringing to light some of the scams and thefts that are being pushed on the general public. When it comes to crypto, she acts as a reasonable voice to those who are just starting to figure out whether or not to invest.
Although we won’t give any advice as to whether you should invest or not, it’s probably pretty obvious this isn’t a fad trend by stories from both sides of mainstream media outlets.
Outlets including Fox News and The New York Times are publishing many positive pieces on cryptocurrency areas, such as NFTs and DAOs, without getting into some of the basic facts one can find by reading White’s website.
Consider the following items we found on her website in just one week of April research.
The decentralized Beanstalk DAO project was hacked for $182 million out of investors’ pockets.
The disclosure that crypto exchange gave Russia information including the names of those who donated to an anti-Putin politician.
To date this year, there have been 20 hacks of over $10 million and and 6 hacks over $100 million in cryptocurrency. This is compared to zero we know of in the regulated SEC securities areas. Source: NBC News
Even the infamous Bored Apes Yacht Club’s NFTs were hacked for over $3 million of tokens since Jan. 1.
We could go on and on about these hacks and scams that White is uncovering, but let’s leave it at this. Before you jump into Fidelity’s new crypto option for your retirement account, spend 20 minutes on White’s website.
For Further Information:
Here is Molly White’s website.
This is a great interview with Molly White and why she’s doing what she’s doing. Molly, please come guest lecture for us!
Here are details on the Bored Ape Yacht Club hack.
Finally, if you subscribe to The Information, here is another article on Molly White.
Best,
Craig