Bitcoin Forum

I have tried to draw a comparison between fiat money and cryptocurrencies, and have reached the conclusion that we can have up to 1.7 billion different cryptocurrencies since everyone can just wake up and issue a currency without a hitch! The problem now is if cryptocurrency can solve the problems it was created to solve since everyone can use it to create a problem instead! These include PnD schemes that have been ran by ICOs, who after raising funds off of you, the dump on you at exchanges and the project dies afterwards. Anyone can list a shitcoin on an exchange and the rake in hundreds of thousands of sales in $BTC and ETH. With all of these, do you still trust cryptocurrency investment??!

if i tore out a piece of paper from my notebook and write a number on it, that piece of paper doesn't become a currency. the same thing is true with cryptocurrencies. they may carry the name "currency" or "coin" but they are not a real currency. that is where the term "shitcoin" comes in.

as for investment, you have to decide what project you think is legit. for me it is only bitcoin.
or you have to decide whether you are looking for profit only. in which case you shouldn't care about how many shitcoins there are, you should only care about how to detect the pumps before they occur and make the profit you want fast and get out.

Yes i do. But it must be supported by a big advisor to create FOMO. I have known a project which has supported by Co-founder of ripple and he was officially investing around 4 million dollars into it and does it make sense to not trust that ico? I still try to believe it as long as it has a lot of advisors and backed by big people behind it.

I still trust cryptocurrency even with over 2000 coins or tokens. I have chosen a few cryptocurrency to make investment and the others I didn't care of. Because of like you said. Many cryptocurrency right now is just created with no function. But There are many cryptocurrency also that is very useful to us.

I trust bitcoin and few other coins but not with any random altcoin there that proclaims they are going to be the best.

A lot of investors bought this gimmick before and right now its look like everyone is learning from that. The logic is very simple, support only those coins that is adopted widely and forget those coins that are generated by a random guy on the web that just searched recently on "how to create a token".

I still trust crypto, even though there are so many coins or tokens.
But i usually only trust bitcoin and ethereum, as they are not simple clone coins.
In some time we will certainly have more coins, but most will not succeed.