The CryptoCoin world is an unregulated shark tank full of predators.
IMHO because they all smell blood for a good reason and gives a good example of what a "scam honeypot" looks like.
As everything is much more complicated in the BTC/Altcoin world than it is i.e. in the cash world, there's plenty of room for scams and abuse of all kinds - with a never-ending fresh supply of potential (unknowing) victims.
I guess that sums it up.
Likely not Bitcoin's fault, but what I've seen in this CryptoCoin world within the last 2 months alone was the biggest display of greed, scams, stupidity and all the worst of human qualities (concerning everything money related) that I have ever seen so compressed in my life. The relative anonymity of the Internet likely supports this behaviour.
Weird to see, that extreme type of "shark tank social order" I'd normally expect to see only on Wall Street.
A bit ironic and really made me think to see that the BitCoin world actually exceeds everything what is already considered normal on Wall Street by a far margin.
That's exactly what rang my first alarm bells on day 1 and caused me to make the decision not to stay any longer in the CryptoCurrency world than I absolutely have to.
Call it civilizatory decay or the signs of our times... I simply don't like what I see and would never feel "at home" in that world. Every of my senses tells me all this can't and won't end well, thus I limited my investments and was forced to prepared an exit strategy much faster than I anticipated.
But again, it's not due to BTC - it's the people and what they do.
Do you read non-English forums? Using U.S. centric references to generalize to the "world" of crypto-currencies is naive at best.
The vast majority of posts are in englisch and being an international language, many aren't even coming from US users.
My observations aren't limited to the english side however. I found exactly the same in another language as well... I would have been surprised - to say the least - if it was any different.
