Facts about this "industry"

[mayax]

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

[Bitcoin Brazil]

That is why BTC > shitcoins, anytime

[franky1]

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

just to inform people
regulations do NOT give exchanges the authority to freeze funds / confiscate funds

if a customer has been flagged as being a AML risk. the exchange is suppose to only write out a SARS report but NOT inform the customer they are under investigation

the only time that funds should be frozen is if there is a court order. at which point the funds would be seized by the authorities and the customer would be informed of the seizure straight away by the authorities

it is not the job of an exchange to act as a sheriff/judge/customs officer. it is just an exchanges job to act as a witness/informant

[solopay669]

judging from this post, the conclusion is one - now there is a continuous lawlessness!

[fabioganga]

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

Although I agree with pretty much all of your message, what is your point buddy? What are you trying to tell us that we don't already know? I don't get it. Please kindly explain. Thanks.

[penig]

Welcome to unregulated markets.  

[mayax]

That is why BTC > shitcoins, anytime

BTC is just another e-currency like any other

[mayax]

judging from this post, the conclusion is one - now there is a continuous lawlessness!

yeap !

[mayax]

Investing in bitcoin is like betting money on whether a random number generator will spit out a number that’s higher or lower than the previous one. I’m willing to concede that some people will guess correctly and win, but it’s just guessing. There’s no real research you can do or any meaningful technical analysis to predict the next price movement.

Bitcoin jumped from nothing to $19,000, then slowly slid down to $7,500, then slumped to $5,000 for a while before bobbing up and down around $2,000 - $3,000. Then, in the wake of a major scandal involving an exchange, the price began quickly rising up (!) to $8,000 and most recently has dropped back to $7,000.

[pushups44]

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

It's time for the community to start holding people accountable so that regulators are not left to clean up this mess. We need to punish exchanges that are inflating volumes and engaging in other questionable activities, and to call out scam ICOs and ICO shills. The shift to proof of stake among some of the alts will be beneficial for the environment, in my view.

On the other hand, this industry is just like any other with the constant feuding and tribalism. Just as bank robbers bring issues to the banking system, hackers bring issues to this industry. Fortunately, the transparent nature of the blockchain creates obstacles for thieves and criminals.

[mk4]

That is why BTC > shitcoins, anytime

BTC is just another e-currency like any other

No. It's not. Bitcoin is ahead of every single cryptocurrency out there today in terms of almost everything, besides speed. While they're all in the category of cryptocurrencies or "e-currencies", bitcoin is in a different league.

[1Referee]

That is why BTC > shitcoins, anytime

BTC is just another e-currency like any other

No. It's not. Bitcoin is ahead of every single cryptocurrency out there today in terms of almost everything, besides speed. While they're all in the category of cryptocurrencies or "e-currencies", bitcoin is in a different league.

Speed is taken care of as well. Lightning payments are instant. In fact, it's so fast, that the transaction in most cases confirms before the UI a second later displays that the transaction is confirmed. If that isn't a speedy payment then I don't know what is. 

OP has no clue about what differentiates Bitcoin from the rest, which does surprise me considering his registration date (December 2013) on this forum. Wouldn't surprise me if he keeps buying and selling at the wrong time therefore considers it to be a pile of shit without fundamentals.

[bagalkot]

That is why BTC > shitcoins, anytime

BTC is just another e-currency like any other

No. It's not. Bitcoin is ahead of every single cryptocurrency out there today in terms of almost everything, besides speed. While they're all in the category of cryptocurrencies or "e-currencies", bitcoin is in a different league.

Speed is taken care of as well. Lightning payments are instant. In fact, it's so fast, that the transaction in most cases confirms before the UI a second later displays that the transaction is confirmed. If that isn't a speedy payment then I don't know what is. 

OP has no clue about what differentiates Bitcoin from the rest, which does surprise me considering his registration date (December 2013) on this forum. Wouldn't surprise me if he keeps buying and selling at the wrong time therefore considers it to be a pile of shit without fundamentals.

It dont mean that if any user have joined this forum from starting would be knowing much about the technical facts about crypto currency and bitcoin. out of 10 users only 1 or 2 users are knowing about the technical details about cryptocurrency balance all have joined just to make money. And i think OP is also one of them.

It is true that BTC is totally different from all other altcoins as it is not controlled by any single developer and it dont need any project support to flourish, but instead it is running individually as a currency and it is the main source of valuation for all other coins and projects.

[Astvile]

The fact that bitcoin is decentralized is the root of almost what you all listed there,no one is regulating the usage of bitcoins of scammers no one is stopping and really chasing them specialy those ICO scammers.And joining cryptocurrency world is like hopping to a place where there are no laws,everybody can do anything they want

[Siren]

before bobbing up and down around $2,000 - $3,000.

Correction mate,bitcoin never fall from this low because this coin never drops to bellow $3,000

Then, in the wake of a major scandal involving an exchange, the price began quickly rising up (!) to $8,000 and most recently has dropped back to $7,000.

If you are really involved of active checking the flow of bitcoin and not just making stupid story here,then you should learn that before the hacking of binance(in which I believe that the scandal you are mentioning)bitcoin or the whole market is bullying already it’s just happen that we continuously grow after the hacking

[Nadziratel]

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

So as you say all 3rd person and companies useless in this market. Because Bitcoin's idea established on P2P transaction. The entire system was based on mutual trust and without intermediaries.

But "we" have changed it, not what it should be, but what we want it to be. I think it's time to turn to P2P payment systems, non-intrusive networks. The actual value of the market is not measured by $, it will come and benefit to mankind! But we may not have fully understood this.

I think we need two things for the beginning of all this. The first is the free market conditions and hence free entry to the market. Completely anonymous way! The second is the continuation of this process as decentralized and the DEXs. I think we need DEXs. So the crypto trade will be better!

[1Referee]

It dont mean that if any user have joined this forum from starting would be knowing much about the technical facts about crypto currency and bitcoin. out of 10 users only 1 or 2 users are knowing about the technical details about cryptocurrency balance all have joined just to make money. And i think OP is also one of them.

Knowing the difference between Bitcoin and altcoins doesn't require much effort at all. Heck, even most altcoiners quickly figure out the immense gap between what's trash and sound money. Not one single altcoin ever came even remotely close to Bitcoin and probably never will. It's just common sense.

The people you refer to who don't know anything are mostly Indians being here just to milk this forum by posting crap left and right. OP doesn't seem to fit in that category.

[sehoon]

I hate these kind of people. They are trying to take over something that they really can't. Are they trying to see themselves as the boss of this industry? I hope better people could enter and regulate (if something needs to be regulated) in this industry. We don't need these kinds of people. I hope no one could hold my fund in exchange sites for no reason.

[mk4]

Speed is taken care of as well. Lightning payments are instant. In fact, it's so fast, that the transaction in most cases confirms before the UI a second later displays that the transaction is confirmed. If that isn't a speedy payment then I don't know what is. 

Well, true. I just don't acknowledge it that much just yet, because I really don't think it's quite ready yet, for the masses, at least.

[hatshepsut93]

Generally you're right, altcoins are really in a sad state, they don't create anything valuable and they really don't deserve the attention they enjoy, but Bitcoin is different - it is objectively the best cryptocurrency, it is usable and it does offer a solution to some problems, and even if the wide public won't need it, there will always be people who do. Altcoins on the other hand are just copies of Bitcoin or risky and questionable experiments, and they always lack Bitcoin's safety and security, which makes them quite bad as money.