[monero-xmr]

I don't think companies like Coinbase, Circle, or Kraken are rug pulls. USDC is a very interesting concept. Ethereum uses Proof of Work (which is an interesting game theory problem to solve itself), which does not energy consumption to secure their network.

[treyd]

It's still undeniable that most crypto projects exist primarily to get retail investors to buy in to allow VCs and other insiders to cash out on them. Not directly as a simple rugpull but a longer term slow bleed, using the leverage they hold in an ecosystem in the near term to manipulate it in a direction that's useful to them in the long term. a16z is massively guilty of this.

[Nouser76]

Just a note, Ethereum uses Proof of Stake now instead of Proof of Work, which is what drives the reduction in energy consumption.

[monero-xmr]

@dang why the heck is this thread flagged? Makes no sense