Worldcoin: Should you let Sam Altman scan your eyeballs for WLD?

cointelegraph.com:

OpenAI founder Sam Altman launched Worldcoin in July, a cryptocurrency token offered to people willing to share their biometric data by scanning their eyeballs with an Orb, seeking to link real-world identity with decentralized blockchain identity. Many aspects of the project embody the dystopian nightmare that the cypherpunks created Bitcoin (BTC) and other cryptocurrencies in order to avoid.

The tokenomics for Worldcoin’s WLD token are such that only 1% of the total value is floating right now. That kind of overhang is unprecedented, even in the wild world of crypto distributions. The token won’t long hold its value unless the entire world puts their eyeballs into the Orb. Unlike Bitcoin or Ethereum — which grew organically through user adoption and utility — the project is all or nothing. Either it is the only solution for on-chain identity or it will be worthless.

Altman’s recent testimony advocating for a regulatory moat for artificial intelligence (AI) to protect OpenAI’s dominance is suggestive of his business ethics. The change in business entity form for his organization from nonprofit to for-profit is also suggestive of the stickiness of his public promises.

Related: Worldcoin is making reality look a lot like Black Mirror

Claims that privacy and biometrics are protected by Worldcoin are unsubstantiated assertions, and they cannot be trusted until Worldcoin — along with its mysterious Orb — become free and open source. This is not Altman’s approach to development and would probably threaten the integrity of Orb identity verification anyway.

Sybil attacks and spam are a problem in crypto, and they can lead to market manipulation. Altman’s AI revolution, as impressive and useful as it is, will make that