I am quite long in the altcoin community and slowly I am beginning.... to hate most of them.
This post is dedicated to the last 2 - 3 months.
We see sh*tcoins but with a relatively huge community, bringing no innovations, but skyrocketing. Coins with epic mega fail launches and ignoring the community get very famous or coins that offer nothing new and are nothing more than clones are going to the moon. Coins with nearly the same specifications but just other name get so much attention. (I don´t want to name the coins)
over the past months I learned, that the most profitable coins (for now) have following points:
- "Cool" name or nice logo
- Overhyping
- Coins compared with famous persons. (ok not all. Greetins to kanye
)
- Just of hoping they get to the moon because of pump and dump
Especially the 4th aspect is imo very dangerous for the entire crypto-scene. "Pump and Dump" coins get usually very fast to exchanges. Miners dump them for a high price --> unexperienced people buying these --> the coin fails/people realise that the coins have no value --> People lose confidence in altcoins or generally cryptocurrency. It is not happening with one strike but more over a long-term period.
On the other side very few coins with new features become popular, for example Vertcoin, but unfortunately these get dumped very fast.
So, why are the "Next Generation Coins" (by that I mean coins with real features, developments or just preety good devs) getting ignored by the cryptocoin scene?
Noblecoin is one of them with a preety good crew of devs which are constantly developing. I think, I don´t need to list the features
.
But when you offer criticism of how bad or badly a coin is developed you often get to hear "You just regret it not to jumped onto the train" or "You are just jealous because you didn´t get enough earlier"
I really get desperated by seeing the effects of mass psychology because I was thinking that people couldn´t be so dumb. They are buying without really knowing a coin more just because of other irrelevant points.
I´ve read many times:
"I like the name, I am mining this"
"Man, this coin comes from a famous person, it must go through the rooooof!"
ect..
But I´ve never read:
"This coin has really new things to offer, I am mining this"
"Man, this coin has potential to become big
BECAUSE it fixes all (the most/few) issues of Bitcoin"
Maybe I am seeing things too black and yes maybe I am writing wrong things but that is exactly what I had to experience.
Please don´t understand this as an hater post but in my opinion cryptocurrency isn´t having the continuous progression as it supposed to have. At the moment it is more like making quick money. The bad things like bubbles, toxic bonds and of course pump and dump are swapping in crypto area.
Ps: I still believe in Noblecoin and the other serious coins. I just wanted to share my thoughts with you
i understand how you feel, i'm sure most of us do.
i also think that most of your commentary ( within the entire crypto community) will fall onto deaf ears... remember, a good number of these people are ( i'm sorry to say) american. you know the morons that elected obama not once but twice, based ( for the most part) on a bumper-sticker campaign. not to mention that whenever he said anything that should have scared the hell out of them, the people just dismissed it in order to be part of the cult of personality that the media created around him. many of these people still defend him simply because they can not admit that they were wrong.
not trying to disparage you just stating an obvious observation, in regards to not thinking that anyone is this stupid. for instance, if one was to look at the MOON market at coinex, one would notice how easy it would be for everyone to make a massive amount of profit, all they would have to do is cancel their sell orders, so that there is less than .007 satoshi, in each bracket, the drop in resistance ( as well as the perpetuate greed of the human race) would shoot the price up with a total of 1 BTC investment, then after it drops, do it all over again. but people are to stupid to realize that, and just to greedy to think ahead or to involve anyone else, in order to make the venture more of a success. keeping in mind that the MOON dev team is working with NASA at the moment to help send kids to spacecamp. the dev team honestly did try to do some good in the world, however, the juvenile minds and infantile reasoning skills have crippled MOON as a currency, and mostly as a result of being added to craptsy almost instantly.
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