The stupidity of crowds

[spartak_t]

They are just trying to talk down the price so that they can buy in cheap. Don't let them.

Of course. Two people's opinions are controlling a market with over $1.25 Billion in daily trade volume. I once told you I think your IQ equals a room temperature, but now I'm starting to believe its even lower.

[CryptosapienZA]

Unfortunately there's a lot of people in the Crypto space who don't even know what decentralization means, all they are here for is to make a quick buck. I cringed just the other day when I watched a video of one of the crypto youTube analysts praising the government. It looks like Satoshi's vision has been abandoned for Wall Street greed.

[Spoetnik]

Unfortunately there's a lot of people in the Crypto space who don't even know what decentralization means, all they are here for is to make a quick buck. I cringed just the other day when I watched a video of one of the crypto youTube analysts praising the government. It looks like Satoshi's vision has been abandoned for Wall Street greed.

That about sums it up.
But the key difference that jumps out at me is..
Berni Madoff went to jail.
Martha Stewart did too for "Insider Trading"

In crypto Mark from GOX is posting pic's from the beach with a martini laughing on Twitter.

Paul from Cryptsy is now sitting on 30 million in BTC.. and hiding.

There is a net sweeping up a lot of the real stock market bullshit.
In crypto Alex Green and the Mintpal saga was forgotten fast.

I want to see a ton of the crypto-players behind bars.
I want to laugh at them and poke them with a stick.  

And to the escorts guy earlier.. learn how to masturbate.  

And Minecache ?
You were voted unanimously here by the forum as a FRAUD.

[Minecache]

Unfortunately there's a lot of people in the Crypto space who don't even know what decentralization means, all they are here for is to make a quick buck. I cringed just the other day when I watched a video of one of the crypto youTube analysts praising the government. It looks like Satoshi's vision has been abandoned for Wall Street greed.

That about sums it up.
But the key difference that jumps out at me is..
Berni Madoff went to jail.
Martha Stewart did too for "Insider Trading"

In crypto Mark from GOX is posting pic's from the beach with a martini laughing on Twitter.

Paul from Cryptsy is now sitting on 30 million in BTC.. and hiding.

There is a net sweeping up a lot of the real stock market bull shit.
In crypto Alex Green and the Mintpal saga is forgotten fast.

I want to see a ton of the crypto-players in bars.
I want to laugh at them and poke them with stick.  

And to the escorts guy earlier.. learn how to masturbate.  

And Minecache ?
You were voted unanimously here by the forum as a FRAUD.

Look at your trust and warnings besides your name and remind us all who the real fraud is. Remember your sick trolling has cost genuine hard working posters here at least $100,000 and a mortgage free life. You Spoetniktard and your sick sockie sidekick Spartak_nt are the real frauds. 

[PopuliCapital]

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.

Not trying to be an ETH hater but all this stuff is making sense. ETH is in a bubble, which is unfortunate, but it is.

This is worth a look (http://populicapital.com/website-launch-and-ethereum-correction/). I layered a well known bubble chart from Hofstra University over ETH/USD and the signs are clear.

For those in it for the long term, you are safe. In 1-2 years time, ETH will be higher again and if it doesn't happen soon, it is going to pass out Bitcoin in market capitalisation!

But for now, a major correction is needed.

[rumex]

The price of Ethereum just dropped today drastically. Hope we are safe?

[spartak_t]

Remember your sick trolling has cost genuine hard working posters here at least $100,000 and a mortgage free life. You Spoetniktard and your sick sockie sidekick Spartak_nt are the real frauds. 

LMFAO, Mindlesscache is considering himself as a "hard working poster"! I'm no one "sockie", bitch! Trolling me will never prove your point and I will always happily bash you down to the ground.

[grapevin]

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... 

I feel bad for the person who bought my ETH this morning.
I was looking at the buy orders and thought to myself, what are you doing?!
Lets see who will be right a month from now, lol. My sell your BTC call from last week was exactly wrong so who knows. But I bet I'm right about ETH going down. I used it, for a week, and am done with it as of today. It's not ready for prime time and I'm not letting ETH hold my money.
I still like my BTC  .

Unfortunately there's a lot of people in the Crypto space who don't even know what decentralization means, all they are here for is to make a quick buck. I cringed just the other day when I watched a video of one of the crypto youTube analysts praising the government. It looks like Satoshi's vision has been abandoned for Wall Street greed.

They can do what they want and they can do it for whatever reason.
Who are you to tell them what the right reason is?
We don't have to conform to your frame of mind.
I don't care what Georgia Pacific's view of abortion is. I buy the lumber at home depot and hammer it together into a house, lol.

Ah crap gotta go bye!

[adaseb]

https://twitter.com/SatoshiLite/status/877440286384947200

Current ICO craze is out of control because people never learned their lesson with TheDAO after everyone got bailed out. Disaster incoming.

Litecoin Creator.


So pretty much everybody who knows what they are talking about are all saying the exact same thing.

[bohr]

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?!

People feel safer when moving with the crowd, so if everyone is in a frenzy buying a particular coin then everyone follow it is really that simple.

[Spoetnik]

@bohr
Safer ?

Uhh no nice try.  

It's a blatant feeding frenzy for ROI's.
Off of ?
Who gives shit ..JUST LIKE THE GUY SAID ON THIS TOPIC EARLIER. (Mr. Escorts)

I have said endlessly most of you are NOOBS here in crypto.
And young and often don't understand English.
You all simply pile in to teh exchanegr too buy the profits-coins fer teh ROI'z.

For a forum dedicated exclusively to cryptography, economics, computer programming etc
The IQ level over all with the crowd is shockingly LOW !
I feel like i am surround by mouthy little toddlers.

I mention that yet again because ?
You all don't know what a scam is.
You don't know what it means within the context of crypto or in the outside world through out history.

I do and have done my research.. and read testimonials by scam victims.
I have known victims trapped in the old water filter pyramid scheme scam for example.
You don't even see when you are talking like a pyramid scheme victim.
All you people do is try and lure in more victims so you can cash out on them.
Just like any pyramid scheme in human history.

You don't see you are playing this ancient game for profits via a corrupt system.
There is a reason why ponzi and pyramid schemes are considered bad.

And look around ?

That is all this stupid bullshit has amounted to.. from end to end.

You are all just participants in a new ages variant of the old pyramid scheme scam.

I can say that because i know what the word means.
And you all just say "Free Market" and "some" and "i need escorts"

When i go to other sites i am immediately reminded the that world isn't this dumb.
It's a breath of fresh air not seeing a fraud shill attacking someone over their haircut in defense of their ICO pyramid scheme scam.
I like going to other sites because they are not overloaded with brain dead greedy little corrupt Investards asking for "advices" for which profits coins on teh exchanger they should buy.. every five fucking minutes  

The IQ level of the crowd here is dragging on the ground.. and they have way too much money to burn. (a perfect storm)
Which is why Ethereum frauds are pushing their ICO "App's" gimmick coin bullshit.

Who is the lamb and who is the wolf Investards ?
They don't care what the answer is..
All they care about is if they can make a few hundred bucks of the "project"
..even if the "dev" makes 2 billion via shady means.

News Flash NOOBS..
It wasn't like this here before.
YOU showed up and fucked this shit up bad.. this is all embarrassing crap !

[Tazmo]

I got involved in early 2011. This wave of ETH and ICOs I'm seeing is pure garbage. It will mount to nothing. It's all just a casino. If bitcoin fails, nothing will succeed. Adoption will just take time. That is all. Time.

[Tolrem]

The market saw a tremendous uptick, right along ETH. New blood thinks ETH is proven. It is not. Not even remotely. It fucked up, HARD FORK. It's EXTREMELY centralized. I'd love to see this coin wither away. It's the antithesis of crypto.

[garet]

Unfortunately there's a lot of people in the Crypto space who don't even know what decentralization means, all they are here for is to make a quick buck. I cringed just the other day when I watched a video of one of the crypto youTube analysts praising the government. It looks like Satoshi's vision has been abandoned for Wall Street greed.

This is spot on! But to be fair, is it necessarily a bad thing? Yeah it causes volatility and can kill some coins, but the major challenge for most any coin and its tech is adoption. So if the crypto can gain more momentum and bring in more users because the mainstream media covers absurd increases in prices, isn't that somewhat of a good thing? Because in the long run, the coins with solid teams and offerings will thrive, and this exposure to the masses can be used to their advantage.