Why are people lining up for Worldcoin eyeball scans? “Easy $50”.

Had a brief chat about Worldcoin with a guy in the pub yesterday. At first I presumed it was just another shitcoin released to chase the gold rush that BTC created thirteen years ago but their gimmick was to use smartphone iris scan technology as an added layer of security. What I see now is a far more dystopian scheme to collect as much biometric data on people as possible.

Didn't think that OpenAI's founder would be opening thousands of kiosks with orbs that would literally scan your irises to generate a private wallet key. It may actually be the dumbest fucking idea I've seen from a crypto bro since convincing suckers to fork out their life savings on digitally signed blockchain hyperlinks to images that aren't stored on the blockchain but rather hosted on an external server, a.k.a. NFT's.

Worldcoin's only real saving grace is the fact that their 25 worldcoin sign-up offer is enticing a lot of people in the developing world to pick the app up. I don't see this improving the economy or addressing wealth inequality because Sam Altman is not a competent economist. Crypto's biggest obstacles are price instability, a technical barrier of entry and being a conglomerate of 'decentralised' currencies that are being controlled by a wealthy few with enough capital behind them to purchase enough hardware to mine coins.