Quote:
Originally Posted by zizek
Doug, of course, will hold himself to the same level of accountability for promoting this fraud as he held other Youtubers promoting similar frauds.
I think that is a bit unfair.
He said he believed in Crypto and its long term value and gave plenty of disclaimers and risk warnings about its risks on his YouTube videos.
He has also regularly warned against investing in many of the coins and in certain ICOs, so for people who were already in Crypto or new to it he actually gave some great advice and insights, including how to store and transact your coins safely etc.
The only thing I would take issue with him about is that he has often said that a big attraction of Bitcoin is that it is not inflationary.
Well it is a bit inflationary as there are still more coins to be mined, albeit up to a finite amount, however, in my opinion because it is easy to copy/in effect copy and with the proliferation of new and competing Crypto currencies (plus many competing coins that already exist and have yet to flood more of their coins into the market), this makes Bitcoin and Crypto currencies in general potentially very inflationary, with no government(s) or regulatory bodies currently in place to regulate the increase in the Crypto money supply.
I realise that Bitcoin was early to market, has a stronger "brand" name with the public and some stronger existing and planned features than many of its competitors, but this does not fully mitigate all of the above.