# Finance without rules and morality is a net negative. 

Source: https://medium.com/humanizing-the-singularity/be-realistic-demand-the-incorruptible-fa15d6401b0e
Kiwi News: https://news.kiwistand.com/stories/Finance-without-rules-and-morality-is-a-net-negative?index=0x659432f523f43f0d4991a8c7b0110b6c189a1ebfd0e237027fdea9b858fe44775ea5c250
Submitted by thatalexpalmer.eth on 2024-01-02 UTC, 7 upvotes, 0 comments

## Summary

Vinay Gupta argues that the blockchain has been damaged by its lack of rules and morality, and that Ethereum's direction has gone wrong. He says Bitcoin's rise was driven by magic and new rules, and that rising prices amount to a form of crypto-fiat that works like a central bank printing money. He describes Ethereum's three political generations: the Nouveau Bitcoiners, the Radicalised Canadians including Vitalik Buterin, and the Scammers. He suggests scammers have destroyed 99% of Ethereum's value over the last 4 to 5 years.