how BS is this all getting

[kelsey]

By 2015 i was thinking this community was too loaded with scammy premine shitcoins. Now its just full on BS.

Now premine is the normal  

Yes its lost on this crowd, but you know ICOs, premined giveaways, coins for development ( ) all defeat the whole point of p2p crypto  

[Voice-Of-Reason]

stay on the known projects, I guess in a few months this will be a lot more cleaner

[kelsey]

stay on the known projects, I guess in a few months this will be a lot more cleaner

pft why would one stay on any of them 

[admissions]

I don't understand the hype with "AIRDROP" coins. It's basically a way to disguise the fact that its been pre mined. Back in 2015 any coin which was pre mined got negative trust straight away and now people are just encouraging it and investing in it.

[NeuroticFish]

By 2015 i was thinking this community was too loaded with scammy premine shitcoins. Now its just full on BS.

Now premine is the normal  

Yes its lost on this crowd, but you know ICOs, premined giveaways, coins for development ( ) all defeat the whole point of p2p crypto  

Shitcoins are not the worse. At least in many cases the "dev" had to work in the code to produce that.
Nowadays we have a lot of new tokens. eBTC, eXMR, eETH, eDASH, eWhateverCoinYouLike.
Aaaaand the Bitcoin* "forks"

But you're right. 2017 came with a lot of garbage in cryptocurrencies world. It's way harder to find out the legit ones. But it's not unexpected. There's a lot of money around this area, more and more money, a lot of kids (or better said, people with insufficient financial knowledge) have wealth they don't understand, a lot of people want to grab some of that wealth in a way or another.

[kelsey]

By 2015 i was thinking this community was too loaded with scammy premine shitcoins. Now its just full on BS.

Now premine is the normal  

Yes its lost on this crowd, but you know ICOs, premined giveaways, coins for development ( ) all defeat the whole point of p2p crypto  

Shitcoins are not the worse. At least in many cases the "dev" had to work in the code to produce that.
Nowadays we have a lot of new tokens. eBTC, eXMR, eETH, eDASH, eWhateverCoinYouLike.
Aaaaand the Bitcoin* "forks"

But you're right. 2017 came with a lot of garbage in cryptocurrencies world. It's way harder to find out the legit ones. But it's not unexpected. There's a lot of money around this area, more and more money, a lot of kids (or better said, people with insufficient financial knowledge) have wealth they don't understand, a lot of people want to grab some of that wealth in a way or another.

The easiest crowd in the world to make money off is the "get rich quick crowd".

Word of advice kids, if someone asks you to give money (invest  ) its not you they are trying to make rich  

[Karto]

By 2015 i was thinking this community was too loaded with scammy premine shitcoins. Now its just full on BS.

Now premine is the normal  

Yes its lost on this crowd, but you know ICOs, premined giveaways, coins for development ( ) all defeat the whole point of p2p crypto  

Premine is not normal
i never buy premined coins, an i know many others that do not
only if its developers that i can trust, that will do something good with that premined coins...

[kelsey]

By 2015 i was thinking this community was too loaded with scammy premine shitcoins. Now its just full on BS.

Now premine is the normal  

Yes its lost on this crowd, but you know ICOs, premined giveaways, coins for development ( ) all defeat the whole point of p2p crypto  

Premine is not normal
i never buy premined coins, an i know many others that do not
only if its developers that i can trust, that will do something good with that premined coins...

no developer who premined a coin can be trusted.

[thejaytiesto]

I don't understand the hype with "AIRDROP" coins. It's basically a way to disguise the fact that its been pre mined. Back in 2015 any coin which was pre mined got negative trust straight away and now people are just encouraging it and investing in it.

This is because people want to try different things from PoW, but unfortunately if you don't use PoW, you are then stuck in a sea of akward possibilities such as ICO, airdrops, or forking an existing coin or whatever.

Some projects have good ideas like Byteball, but the way the coins are distributed is a joke. You basically depend on some russian guy that controlls all the supply airdropping it properly, also they change airdrop terms out of nowhere as they go, I like the simplicity and predictability of PoW when it comes to delivering the supply. Nobody has come up with other ideas.

[krypt0n1]

By 2015 i was thinking this community was too loaded with scammy premine shitcoins. Now its just full on BS.

Now premine is the normal  

Yes its lost on this crowd, but you know ICOs, premined giveaways, coins for development ( ) all defeat the whole point of p2p crypto  

Shitcoins are not the worse. At least in many cases the "dev" had to work in the code to produce that.
Nowadays we have a lot of new tokens. eBTC, eXMR, eETH, eDASH, eWhateverCoinYouLike.
Aaaaand the Bitcoin* "forks"

But you're right. 2017 came with a lot of garbage in cryptocurrencies world. It's way harder to find out the legit ones. But it's not unexpected. There's a lot of money around this area, more and more money, a lot of kids (or better said, people with insufficient financial knowledge) have wealth they don't understand, a lot of people want to grab some of that wealth in a way or another.

And right on schedule, there was a page that came up today on bitcointalk announcing a bitcoin silver fork. (There isn't an eye roll emoji extreme enough to insert here)

[NeuroticFish]

I don't understand the hype with "AIRDROP" coins. It's basically a way to disguise the fact that its been pre mined. Back in 2015 any coin which was pre mined got negative trust straight away and now people are just encouraging it and investing in it.

This is because people want to try different things from PoW, but unfortunately if you don't use PoW, you are then stuck in a sea of akward possibilities such as ICO, airdrops, or forking an existing coin or whatever.

Some projects have good ideas like Byteball, but the way the coins are distributed is a joke. You basically depend on some russian guy that controlls all the supply airdropping it properly, also they change airdrop terms out of nowhere as they go, I like the simplicity and predictability of PoW when it comes to delivering the supply. Nobody has come up with other ideas.

PoW is not good anymore, it's not green enough some say, although I still don't see a better way to distribute coins.

Quite a number of coins do nowadays "airdrop" which are actually payments for signatures, twitter, fb tasks with the sole reason to create hype around the new (usually worthless) coin.
If the trick works, some exchanges will join the game, some will try to buy and then the bounty hunters along with the so called dev will sell all they can.

[Febo]

stay on the known projects, I guess in a few months this will be a lot more cleaner

If it got so much worse in last 2 years, why you think will get better in upcoming months. Thing is now people even write in whitepaper they have nothing. They write they will take half of coins or more. And people just send them good coins without any grantee. Zero.    Only way that this will stop is that people will stop send them money. but as long price of bitcoin wil grow and as it looks that will happen for few years, people will be so attracted to Crypto.  Maybe governments really start to do something. Scam is a scam and scam should get you in jail.

[NeuroticFish]

Maybe governments really start to do something. Scam is a scam and scam should get you in jail.

This is a really good point.
China already started something about regulating ICO.
All the crypto world would need to get clearly regulated. And then the really good projects will go on, they'll mean much more money, and the garbage will stay in the bin, else the fake devs will face the chance to go to jail.
Unfortunately I feel like most of the ones that could regulate cryptocurrencies don't understand them and are afraid of them.

[SilverCoin300]

Its funny! These guys are just raising money with absolutely no product or nothing! Why wouldnt people try to create tokens or coins if they know people are gonna throw money at them? All these icos come out and most of them gets dumped. People still throwing money at them. Just look at some of the previous icos, they all tank. It is only a matter of time it all comes crashing down.

[amacar2]

Actually in past, dev team behind any project used to have atleast deep knowledge of blockchain tech and used to came up with their own blockchain but right now almost all new projects run on ETH tokens which is not a true crypto.

[Howtrain]

All these airdropped coins are fine...to immediately sell for BTC and ETH. Investing in them though? No chance. There is basically no use case for most of these tokens, so it's pretty easy to see the vast majority failing sooner rather than later.

[aoluain]

Maybe governments really start to do something. Scam is a scam and scam should get you in jail.

This is a really good point.
China already started something about regulating ICO.
All the crypto world would need to get clearly regulated. And then the really good projects will go on, they'll mean much more money, and the garbage will stay in the bin, else the fake devs will face the chance to go to jail.
Unfortunately I feel like most of the ones that could regulate cryptocurrencies don't understand them and are afraid of them.

I am all for cutting out the scams and clearing up the whole alt coin scene
and while China has implemented the regulation of ICO's and Japan also
what price do we all pay for that regulation?

I mean this whole thing is supposed to be unregulated and decentralised
are we moving away from that by following China's lead?

[Iwuzhaxxed]

Maybe governments really start to do something. Scam is a scam and scam should get you in jail.

This is a really good point.
China already started something about regulating ICO.
All the crypto world would need to get clearly regulated. And then the really good projects will go on, they'll mean much more money, and the garbage will stay in the bin, else the fake devs will face the chance to go to jail.
Unfortunately I feel like most of the ones that could regulate cryptocurrencies don't understand them and are afraid of them.

I am all for cutting out the scams and clearing up the whole alt coin scene
and while China has implemented the regulation of ICO's and Japan also
what price do we all pay for that regulation?

I mean this whole thing is supposed to be unregulated and decentralised
are we moving away from that by following China's lead?

Decentralization is a pipe dream. Its not real. The banks and governments control all of the fiat gateways. Without them we couldn't use crypto for anything meaningful. Regulation and control was always just around the corner. I'm actually glad it's here now.

[bathrobehero]

ICOs and airdrops are just the natural evolution of premined shitcoins now with some seasoning trying to hide the stench.

We always had a bunch of premined shitcoins but now we just have more because way more people got interested in crypto this year.
They all saw how well Bitcoin did early this year and got the gold rush fever. Some started mining, some started investing but a lot just started throwing money at random coins hoping that will be the next Bitcoin, either out of stupidity/naivity or laziness. And it got to a point where ICOs are basically a form of gambling. No wonder it got banned in a couple of countries.

Also, a few years ago you would had to know how to clone a coin but now anyone and their grandmothers can create tokens.

But not everyone have money to throw at ICOs so here comes airdrops, now everyone can participate and cherish cryptos except airdrop coins are going against what crypto stands for and people don't see that; airdrops are just another form of premine (which is considered a scam for years) and are also centralized and heavily manipulated. "Devs" now can just buy a few dozen/hundred accounts and claim airdrop coins on all of them or just tell people that fuck it, we'll keep a lot of coins because reasons and people will ignore it, spam their signatures/social media/etc until everyone else starts vomiting.


Premine is not the norm though, it's just we're getting absolutely bombarded with premined scams. But hopefully we'll be turning back towards fair coins with PoW mining (which is still the only fair initial coin distribution method) especially with the rapid advances in renewable energy. But of course buying into random scams will always be easier than buying mining hardware...

[NeuroticFish]

I am all for cutting out the scams and clearing up the whole alt coin scene
and while China has implemented the regulation of ICO's and Japan also
what price do we all pay for that regulation?

I mean this whole thing is supposed to be unregulated and decentralised
are we moving away from that by following China's lead?

Actually Bitcoin regulation was attempted long before China. And yes, Bitcoin needs regulation too. That's what we have to start with.
If it's unregulated, it doesn't exist. That's one of the reasons the banks boycott Bitcoin (of course, there are many other reasons), that's one of the reasons most funds don't invest in cryptocoins, that's one of the reasons Bitcoin and then the alts are not mainstream yet.

And if China does something right, don't be afraid to follow, just because it's China. Of course, give it the best judgement about being right, because it doesn't happen that often


The decentralized utopia is nice. What's decentralized in crypto? The biggest miner is China because the power is cheap. Some coins are centralized from the beginning or have masternodes which are hosted in same and same datacenters. Not much else remains untouched...