A large number of the offerings leading up to the dotbust were scams. A huge number of the real estate projects in the lead up to the collapse of the FSLIC were scams. A huge number of stocks that led to the crash of the independent penny stock markets were scams. The mortgage backed security industry was rife with scams.

Crypto is not alone in the production of scams.

Why there are some many people who are willing to waste their lives on scams is the baffling question.

!WINE