WORLD COIN: THE might-BE WORST CRYPTO SCAM

Like any other non-coin crypto tech, Worldcoin doesn't do what it set out to do because it doesn't solve the oracle problem. If you trust their orb, it generates a wallet for you - but anyone, human or otherwise - can use that wallet. There's a black market in China for these identities already and of course the response from Worldcoin was there's nothing they can do - because there's nothing they can do.

So this is just any other coin with extra steps, and the extra layer of trusting Sam Altman with your eyeballs to generate secret keys?

Why do I feel it might be not legit at all? Here's my personal arguments, and review of what I have read so far in the interweb.

Financial Incentives and Token Creation: Worldcoin offered its WLD token as an incentive for individuals to undergo iris scanning, potentially using this strategy to attract interest and secure venture capital funding. However, the value of the token experienced significant volatility.

Worldcoin's business model is dystopian, with individuals exchanging biometric data for cryptocurrency.

Regulators in France, the U.K., and Kenya expressed concerns over Worldcoin's data collection practices. The Kenyan government demanded a cessation of Worldcoin's activities, citing "legitimate regulatory concerns."

Despite the ambition to provide Universal Basic Income (UBI) through Worldcoin's financialized element, there is a lack of clarity on how the project plans to fund this initiative. The reliance on token buyers to contribute to the project's economy raises questions about its sustainability.

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