The stupidity of crowds

[spartak_t]

Don't you guys want to create some project and see its success? Or just "invest" in some that you really believe in and watch it growing over the months/years? This will be eventually taken away from you, because of people who are seeking for money to buy boats and b*tches (we even had such ICO... and it raised money).

But yeah, keep saying its crypto, it is how it is etc... 

[tehMoonwalker]

Don't you guys want to create some project and see its success? Or just "invest" in some that you really believe in and watch it growing over the months/years? This will be eventually taken away from you, because of people who are seeking for money to buy boats and b*tches (we even had such ICO... and it raised money).

But yeah, keep saying its crypto, it is how it is etc... 

90% of the "new" crypto crowd are, how can i get rich fast sir? kids

they dont care about crypto or gouvernance, technology or freedom?
they wanna make bucks over night

funniest thing is they FIGHT to get INTO an ico, and DUMP the minute its on an exchange (BAT)

maybe its all just  "i wanna be part of an ico huhu" movement?

nxc a project with a beautiful game that soon relases on STEAM gets left behind and dumped.. people buy whitepapers and future theoretical uses that may not even work, its crazy

[serhishulak]

Don't you guys want to create some project and see its success? Or just "invest" in some that you really believe in and watch it growing over the months/years? This will be eventually taken away from you, because of people who are seeking for money to buy boats and b*tches (we even had such ICO... and it raised money).

But yeah, keep saying its crypto, it is how it is etc... 

both of people just wanna a lot of money but don't do anything for it.  i am agree with you in it

[ven_bug_trap]

Everyone is just chasing the next big hit but I don't think decentralization vs centralization is the problem because most of the projects are meant to operate independently and decentralised after their development is complete.

I think the real problem is that even the worst of projects seem to get funded and people are very creative in listing their past accomplishments, its the equivalent of padding up a CV to extreme levels.

What I predict will happen is that the good projects will find some success while the shitty ones will eventually die out either during a crash or slowly over time.

At least in theory, when development is complete, decentralisation should commence. However, especially since the technology is new (which is both true and used as an excuse), it will take a long time for development to "finish", and in fact, if the devs/community are in any way competent, development will never truly finish. If we simply assume that decentralisation is an inevitable result of development finishing, and patiently wait for it to land at out feet, we're in for a nasty surprise.

[mostkey]

Everyone is just chasing the next big hit but I don't think decentralization vs centralization is the problem because most of the projects are meant to operate independently and decentralised after their development is complete.

I think the real problem is that even the worst of projects seem to get funded and people are very creative in listing their past accomplishments, its the equivalent of padding up a CV to extreme levels.

What I predict will happen is that the good projects will find some success while the shitty ones will eventually die out either during a crash or slowly over time.

Most project are just some people trying to get a break. Some will invest in their project, because they believe in their project. Some are definitely just trying to run away with the money. Will soon find out I guess.

Soon could be years from now..

Your last statement really hits the nail, most projects give timelines of over 2 years for their development so it takes a long time to really figure out if the project was just hot air or if they were really trying to develop something.

Most of them do conclude like you, a project that will be seen in the span of 1-2 years, but if they are really in doing a procurement, it seems that in the first month it will be seen the development of the project in peggang, actually for the The genius project holder, 2 years is too long

[Spoetnik]

It's preposterous, but we're powerless to stop it. ETH will have a crash landing, it's not a matter of if, but when. So, how do you position yourself? Probably by holding BTC.

As for me, I'll try to flip a couple of ICOs and keep the resulting BTC. Why fight it? If it turns out it's 1997 and not 1999, you'll see returns to the tune of 10,000% flipping this shit. Just make sure to take enough off the table to at least cover your principal.

Just like in 2013.
You all know better and do it anyway.
Why fight it ?
Integrity ?
Ruining crypto ?
Financial Risk ?

You all out there pile in and add your support.
Just to get a slice of the large pie the dev & friends get.

You don't accept responsibility for your bad behavior.

What is wrong with trying to have integrity AND making money ?

[Qunenin]

This is not the best place to analyse the crowd dynamic.  There are way too many games being played and way too many people that have mutliple accounts that they use to those to make their posts appear supported.  A true crowd can only be judged if everyone in the crowd is a separate person.

[BitcoinPC]

This is not the best place to analyse the crowd dynamic.  There are way too many games being played and way too many people that have mutliple accounts that they use to those to make their posts appear supported.  A true crowd can only be judged if everyone in the crowd is a separate person.

Other than that, there is the inate back stabbing, the outright stealing and lying, the slef promotion and the active acquistition of wealth that is not evil, but has brought people to the point where they are paranoid and crazy.  This forum is not the place where people act the way they normally would, but perhaps it is a more in depth look into the way that people would be when they do not worry about people knowing who they are or any ramifications.

[xbiv2]

[pearlmen]

TheDAO should have been a warning to these new folks who did not yet lost money in the 'crowdfunding' scene.

We've been there already as I raised the red flag about a week before the attack: https://bitcointalk.org/index.php?topic=1504662.0

I did not researched the DAO, because I simply didn't care about what it is. But recent news surrounding its flaws made me look a bit deeper and even I who am not a developer saw the possible outcome. Now this pretty much is happening with ETH. It just can't sustain all of these "projects" and the balloon will burst, but this time the DAO will look like a joke.

And what bugs me the most... Let's talk about money. I made a decent amount of money during my years in crypto, but I'm not even close to a millionaire. And if I start calculating all of the coins I had in the past, then my net worth should be probably in the $5-10 Million range. But why it isn't? Because I'm not buying these crap... as simple as that. Did I missed 10s and 100s of trains? Yes. Do I care about it? No!

But one can say I am successful (I did not lose money, I bought some things from profits in the past) and if I was a hypocrite (which I'm not), then I will be able to fund such project by myself.

Why they need money if they were so successful? Just do some premine and run it for free. If your project is good enough it can again make you millions (because they're all after this - making money).

But this way they can fail and blame others. And more important: to bail out, as the DAO did.

As you have rightly said that you only invest in project that you believe in, then you equally don't have to castigate others in others in the project that they also believe in just because they didn't see it the way you see it. For the mere fact that I am putting my money in a project even if its for one day accounts to the fa t that I believe in it.m because believe in itself is a subjective matter which is not universal to every one on the planet to follow through.

[Spoetnik]

@BitcoinPC
Agreed.
I have been saying for ages the scene over all gets nasty because we all collectively do a little bad.
Which ultimately adds up to a Mount Everest of bad.
And i add it's each of us lowering our standards and doing things we shouldn't for MONEY behind closed doors because we can get away with it.

No one is going to post your trade history from exchanges here when you bad mouth a scam coin.

All i know is i am fed up with "some"
I just finished tearing a strip off a guy on a Metal Music blog about bands pan handling.
The band ripped everyone off.
And then we see the "Sometimes" crowd roll in making excuses.

I call bullshit on the begging.

But in crypto it's on a whole new level.
The likelihood of any ICO project becoming successful is 0.01% ..if that.
There has never been a "successful" ICO yet.

I keep saying it's like saying that *some* pyramid schemes are legit.
No.
Fuck no Investards.
It's how they work by design that is scammy ass stupid fucking bullshit.

If you surveyed the people "investing" if they thought it was going to be a success they would say no.
They know the ICO's are bullshit but they don't care.
Because they make BITCOIN / FIAT profits from them.

So what happens when crypto devolves in that direction ?
You're lookin' at it.
A mass of useless idiots flow in buying anything that is paying out.
Which means what ?
Well for starters the legit projects that might exist will go ignored.. because some other bullshit is paying out more profits.
So it robs support of any other legit "coin".

Stupid idiots here think ethereum is a "success"
It's the no.2 coin in crypto and a scammy load of rigged manipulated gimmicky ICO bullshit.
And that is the big yard stick all this is compared to.
Every little fucking prick here cites it as an example of a successful ICO.
Problem is.. It's not.

I ran a poll asking if the forum believed in it's premise.. 70% said no.
And even more are simply using it for profits (not as intended)
You will see lots of topics on it but any time anyone asks about how it works or what it's used for they are ignored.
How often do people talk about their favorite DAPPS / APPS ? (Smart contracts)
Never.
And it's funny because i have said that 1,0000000x
So if they wanted to make ETH look legit they could take my cue
But they don't.. they rail on that the MANIPULATED price on a centralized govt controlled risky shitcoin exchange is proof it's a "big success"  

Yup ETH the ICO is a winner.. because it's worth $300 each.
Seriously ?
Do you all realize how stupid that sounds ?

There HAS never been any successful ICO and the odds that one will exist are virtually 0.

Hey everyone i want to launch a new currency that replaces Bitcoin.
So you need to buy them with... Bitcoin  

The altcoin world is a scammy joke from end to end.
This shit is NOT legit.

Exchanges add scammy bullshit for profits as they make a billion dollars (see Coinbase)
All the idiotic ICO defense rabble here is preaching to the choir.
NO smart people out there are going to eat up the verbal diarrhea defending them from idiots here.
But.. many smart ones may join in.. fer teh ROI'z.
And join in PRETENDING this shit and the ICO's are legit.

The first cliche'd retort they will play is the *sometimes* card too.

We need to quit handing over control of the scene to the stupid & scammy.

[Argon2]

After these round of ETH-based ICO's Ethereum bubble will pop. The money will flow into Bitcoin.

[SilverCoin300]

Its not going to flow into Bitcoin. People are going to just pull their money out completely for a while. Ethereum ICO bubble going to eventually pop.

[befrank]

I do not think an Ethereum Bubble is imminent. Other platforms where you can create coins on will start to rise. More and more ico's will start to emerge. Currently about 40 percent of the top 200 coins are interesting. The rest sucks. There is plenty more room to grow. There will be some corrections, sure but we are not even close to something like a dot-com bubble. Relax and enjoy the ride.

[pumpmydump]

TheDAO should have been a warning to these new folks who did not yet lost money in the 'crowdfunding' scene.

We've been there already as I raised the red flag about a week before the attack: https://bitcointalk.org/index.php?topic=1504662.0

I did not researched the DAO, because I simply didn't care about what it is. But recent news surrounding its flaws made me look a bit deeper and even I who am not a developer saw the possible outcome. Now this pretty much is happening with ETH. It just can't sustain all of these "projects" and the balloon will burst, but this time the DAO will look like a joke.

And what bugs me the most... Let's talk about money. I made a decent amount of money during my years in crypto, but I'm not even close to a millionaire. And if I start calculating all of the coins I had in the past, then my net worth should be probably in the $5-10 Million range. But why it isn't? Because I'm not buying these crap... as simple as that. Did I missed 10s and 100s of trains? Yes. Do I care about it? No!

But one can say I am successful (I did not lose money, I bought some things from profits in the past) and if I was a hypocrite (which I'm not), then I will be able to fund such project by myself.

Why they need money if they were so successful? Just do some premine and run it for free. If your project is good enough it can again make you millions (because they're all after this - making money).

But this way they can fail and blame others. And more important: to bail out, as the DAO did.

As you have rightly said that you only invest in project that you believe in, then you equally don't have to castigate others in others in the project that they also believe in just because they didn't see it the way you see it. For the mere fact that I am putting my money in a project even if its for one day accounts to the fa t that I believe in it.m because believe in itself is a subjective matter which is not universal to every one on the planet to follow through.

The subjective reasons one may have for believing in a project may be objectively shit.

[spartak_t]

TheDAO should have been a warning to these new folks who did not yet lost money in the 'crowdfunding' scene.

We've been there already as I raised the red flag about a week before the attack: https://bitcointalk.org/index.php?topic=1504662.0

I did not researched the DAO, because I simply didn't care about what it is. But recent news surrounding its flaws made me look a bit deeper and even I who am not a developer saw the possible outcome. Now this pretty much is happening with ETH. It just can't sustain all of these "projects" and the balloon will burst, but this time the DAO will look like a joke.

And what bugs me the most... Let's talk about money. I made a decent amount of money during my years in crypto, but I'm not even close to a millionaire. And if I start calculating all of the coins I had in the past, then my net worth should be probably in the $5-10 Million range. But why it isn't? Because I'm not buying these crap... as simple as that. Did I missed 10s and 100s of trains? Yes. Do I care about it? No!

But one can say I am successful (I did not lose money, I bought some things from profits in the past) and if I was a hypocrite (which I'm not), then I will be able to fund such project by myself.

Why they need money if they were so successful? Just do some premine and run it for free. If your project is good enough it can again make you millions (because they're all after this - making money).

But this way they can fail and blame others. And more important: to bail out, as the DAO did.

As you have rightly said that you only invest in project that you believe in, then you equally don't have to castigate others in others in the project that they also believe in just because they didn't see it the way you see it. For the mere fact that I am putting my money in a project even if its for one day accounts to the fa t that I believe in it.m because believe in itself is a subjective matter which is not universal to every one on the planet to follow through.

You got this wrong. There is a "tiny" difference between "investing" in a project, which you believe it will "succeed" in 2 weeks or 2 years. Majority of the people are just buying and selling "the coin of the day", without bothering what may happen with it in future. And they move on. I do not care about these people as it is their right to do so, but that's not the main problem here. Back in the days we had a few obvious scams, which is pretty normal, but now we have people who are investing billions of $ in a broken technology. And main problem is that they know it, but they do not care as long as they are "sure" it will make them profit.

On the other hand we have hard working people, who "invested" not only their money, but their lives as well. And one day they'll all see their work valued at 0, because of a few million greedy f*ckers.

[spartak_t]

I'll be buying some beer and popcorn, because an EPIC dump is incoming and ETH shills will learn their lessons... in the hard way... Bad thing is that many alts will probably suffer, but it is what it is... 

[selline]

After these round of ETH-based ICO's Ethereum bubble will pop. The money will flow into Bitcoin.

It is true we await round based ETH ICO Ethereum bubbly will start to appear so many distracting to them because of the high price
 that many make many devotees

[mostkey]

After these round of ETH-based ICO's Ethereum bubble will pop. The money will flow into Bitcoin.

All indeed only a momentary embodiment such as eth and other altcoin,All keep on bitcoin.Bitcoin will not disappear even though eth and other coin is very fantastic price.For now maybe people are only fixated on eth, which obviously will eventually keep up with bitcoin.

[Minecache]

This bubble of ETH based ICOs will most likely eat our asses pretty soon. What happened with decentralization?

a) We have a "Put_your_name_here" project with a minimum goal of (say) $5 Million + 30-50% premine - for "future development" and developers.
b) All of these projects (and I'm not saying this for the first time) have CEOs, CTOs etc., which has nothing to do with decentralization (as they should not be a company, nor they should have a huge premine).
c) Most of the people involved in these projects are with huge experience. Their combined experience is twelve billion years in the industry! They already launched five million projects with a combined turnover of USD $120 Billion/week. Yet they are asking for your money?

Should I mention the current issues of ETH?

And in five weeks/months/years, when the bad Americans (or Russians, just pick a nation) comes up with some law, you are all crying: "These bastards are f*cking with Bitcoin! ", and believers: "Nothing can stop Bitcoin, even if they dump it down to $10!".

But please don't mind me. I'm just a guy who "missed the train".  

WTF is wrong with you people?!

You'd like someone to eat out your ass wouldn't you Spartak_nt. Why don't you ask your sockie bum chum Spoetniktard? He's got his hand up your ass half the time anyway.

Some history for our gentle readers. Don't believe a word of these well known ETH hating trolls. Their advices to date have cost other investors in ETH a minimum $100,000 and a mortgage free life. They are just trying to talk down the price so that they can buy in cheap. Don't let them.