A little less naive

Today I had my eyes opened a bit more about the types of manipulations very smart people can apply to very complex technology. I'm not a babe in the woods regarding technology but wow it's going to take a long time to unravel this new world (at my employer's expense;).

Read this story about the early days of Monero.

This story is famous amonst the Monero dev community apparently and for the rest of us enlightening. When have the concepts of pre-mining, crippled and instamining hit the popular media? Precisely never. And so this is important because while the general population starting to become interested they, don't have the ability to understand. I smell easy marks and scandals leading to the dreaded and omni-lurking calls for more regulation.

Self-regulation is obviously the key to prevent this but how to do that??? I'm going to suggest here that we form a sort of GAAP/FASB for crypto (maybe CRAAP/CASB). For those unfamiliar, GAAP/FASB predecessors were created when the government threatened to step in because corporate accounting had no standards and could be easily manipulated, corporations panicked and created a private organization to create the standards. I'd suggest crypto do the same and soon b4 the gov't(s) do it for us.