'Snitch-to-Earn' is Working – Unfortunately!
TL;DR
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Arkham Intelligence now has their first approved submission: proof of the wallets owned by Do Kwon / Terraform Labs (check them out).
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Philosophically, we simply cannot get ourselves to agree with Arkham Intelligence’s program.
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Rewarding individuals to determine which wallets belong to who after which posting it on Twitter X, is type of akin to determining the place somebody lives, and posting their dwelling handle on-line. Rewarding that habits with the ‘snitch-to-earn’ program takes it to an entire new degree..
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About two weeks in the past once we wrote about Arkham Intelligence’s ‘snitch-to-earn’ program.
They now have their first approved submission: proof of the wallets owned by Do Kwon / Terraform Labs (check them out).
And the snitches winners get…$5000.
Look, we’re not right here to say what Do Kwon / Terraform Labs did was admirable.
Heck, the Terra LUNA crash led to the FTX crash, which led to this right here bear market that we have been struggling by way of the whole time we have been constructing this text.
BUT, philosophically, we simply cannot get ourselves to agree with Arkham Intelligence’s program.
Some individuals spend money on crypto to generate income – and whereas it can go up in worth, that is not its core worth proposition.
The core worth prop for cryptocurrencies (like BTC) is that they are decentralized.
They don’t seem to be managed by any firm or authorities, and there is no want for intermediaries like banks within the conventional monetary system.
Rewarding individuals to determine which wallets belong to who after which posting it on Twitter X, is type of akin to determining the place somebody lives, and posting their dwelling handle on-line.
Rewarding that habits with the ‘snitch-to-earn’ program takes it to an entire new degree.
Much less of this, please!
