We need that some projects fail.

[vit05]

We are seeing the emergence of several projects that are just scam and Ponzi schemes. Many are just code copies of other projects with an investment in marketing and a great work on branding and social media for the FOMO.

Even projects that have failed in a catastrophic way can recover in value, since someone always comes in to buy, and has not researched the past. Because they are only speculations on exchanges, it does not matter if at some point they will serve anything.

The value decreases, increases, but few times we see it reach zero.

Without being able to end forever, they will continue to shout Hold, spreading lies to pump. Like it was just a game and nothing more. We need them to fail or be destroyed. Only then will the best ones emerge stronger and more experienced and, thus, change our society forever.

[1715601413]

1715601413

[BTCMILLIONAIRE]

I really don't see a problem. People who are stupid enough to throw any significant sum of money at said garbage coins will just end up burning themselves and then complain. Except that this time the government won't be able to bail them out.
In the meantime, anybody who is capable of critical and objective thinking as well as controlling their own impulses and greed will come out ahead once the market goes into a major reversal in a few years. As long as you're spread out among the truly valuable projects and not the BitConnects and <xyz> Gold/Plat/whatever copy/paste coins the worst that will happen is having to ride out a recession. The rest of the sheep will get sheared to 0 and never grow back.

All we can do is warn others and point out flaws in certain coins and ICOs. If people then choose to FOMO buy hyped trash regardless it's their loss.

[Jet Cash]

The problem with failures is that they tarnish the image of the good products. Ths is especially true if they are mis-using the word Bitcoin in their product name.

[eternalgloom]

The problem with failures is that they tarnish the image of the good products. Ths is especially true if they are mis-using the word Bitcoin in their product name.

Yeah but there's not much you can actually do about that. Everyone is free to use the word Bitcoin in whatever fashion they'd want.
Besides, the only people affected by this are those who are probably too inept to make use of Bitcoin anyway.

Compare it to the dotcom boom in the late 90's, early 2000's. Everyone and their mother was abusing the word 'internet' to make some quick cash, almost the same way as we see happening now.
People eventually learned that there's a difference between 'internet' and some company trying to capitalize on the name alone.