One of my pet fascinations has been all of the rampant fraud in the cryptocurrency “market” over the past few years. A particularly dubious example comes to us via Ars Technica today:

In March 2018, Matthew Iles—the head of Civil, an ambitious blockchain-for-journalism [sic] startup [said] … “We’re feeling very bullish about the value of our tokens as it relates to the value that has been estimated in all of the agreements that we have shared with you guys so far.” Civil aims to orchestrate the creation, sale, and management of an Ethereum-based crypto-token, known as CVL, meant to serve as the underpinning of a slew of recently founded ambitious news sites.

“Blockchain-for-journalism“? Trust me, nowhere in the article does it make clear what that means exactly.

My favorite bit is about the company’s main backer:

Civil’s primary funder, ConsenSys, announced earlier this month that it would be cutting 13 percent of its workforce. How exactly this will impact Civil is anyone’s guess—but it can’t be beneficial.

Well, let’s see how that’s going:

Lol. For the Least-Reassuring Headline on a Company’s Media Website Award, “The sky is not falling” is a strong contender.

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  1. lumpkin says:

    Yeah, well people who will exchange actual money for crypto currency are so gullible that they will believe just about anything -- the more absurd, the better. So they probably are reassured.?

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