What's the weirdest thing about crypto?

[xiboothrezi]

What is weird about cryptocurrency for me is the price. Sometimes, a coin that is completely underated and overlook may shoot into limelight with the angle that have never been looked at. How the prices of coin rise is also interesting and out of this world. A percentage increase of a coin could run into millions and those that invested in such coin instantly could become a millionare!

and conversely, projects that we think have great potential and real functions can lose competitiveness, with joke projects that only rely on hype, even though it's only a pumo and dump scenario but the lucky ones can get a lot of profit as you say. that's a fact and a lot happened during the last bull run.

but we must not ignore the fact that it is a great risk to choose such a project. imagine if you take the wrong timing, instead of the price going up, it's going down. That's why I prefer a definite project, one that already exists in the market and has proven to have strong fundamentals, even though the profit is not as big and as fast as a pump n dump coin, but I'm very grateful to be able to make a profit.

I'm still weird with coin memes

[Abiky]

For me, the weirdest thing about crypto is the ability for any random person to create a new coin whenever they want. Nowadys, you can hire a developer from Fiverr and build a crypto coin in just under 500 USD investment. Majority of today's cryptocurrencies don't have a goal or a solid business plan to back up their value. The net result is that we now have more than 10,000 dead coins.

For people like me who have joined the crypto market in its early days and took part in ICOs, now have minimum 50 different deadcoins lying in their wallet. That's the sad part of today's crypto market. We indeed have seen great projects as well but they are the exceptions.

That's because crypto land is the "wild west" where anyone can create new projects and scam people at will without any limitations whatsoever (sort of). With stocks, it's a little different since the whole space is tightly regulated by mainstream governments. Companies/issuers have to go through a series of paperwork before being able to launch their own stock on the market. That's the reason why most institutional investors prefer stocks than crypto itself. Unless the crypto market becomes widely regulated by mainstream governments, developers will continue to create new coins to make a quick buck like crazy.

Believe me, crypto land is extremely weird with many unpredictable events that could lead you towards prosperity or despair in a blink of an eye. But it's all good once you get the hang of it. How far will the crypto/Blockchain space will go will greatly depend on mainstream adoption. It looks like crypto won't be going anywhere thanks to its decentralized and open source nature. Just my thoughts

[isaac_clarke22]

~

It's unpredictable to the point that pump and dump schemes become the trend for the obvious wrong reasons. I can even recall coins that took advantage of Coronavirus and that coin just faded into obscurity and then new trends like NFTs became a thing in my feed in Facebook.

[uneng]

The weirdest thing might be the fact people are fine about paying huge transactions' fees in a daily basis.
It's hard to understand why people are wasting so much money with expensive fees in some moments when the network is overloaded. It really looks like they are trying to hide these transactions from their local authorities so they don't care about extra costs since they can fly under the radar.

[pealr12]

That there is still no crypto that we could imagine to become the world currency we all pay with. Bitcoin is like gold...not the kind of money you want buy apples on the market.

Yes btc is now viewed more like an asset than a currency that was supposed to be flexible and easily accessible by all, so far there is no such currency that is generally acceptable for transaction purpose, btc is more too pricy for it to serve as universally accepted,despite there are thousands of alternatives coins out there, yet none can be regarded as the ONE cryptocurrency of the world,  perhaps such coin has not been developed yet or probably never will.

[o48o]

What do you think is the weirdest thing about crypto? Your input will be greatly appreciated. Thank you.

It has been a wild ride for sure. People are basically trading memes now. I find it weird that with this industry came an industry of scammers and how they can operate so freely. That all it takes is a one man to manipulate the whole market. Or one pseudonymous whale what no one knows can absolutely destroy a coin and pump & dump it.

I also find it quite revealing that nothing has changed from 2017 ico greed. Things are even worse and probably get worse and worse.

Ihmo weirdest part is yet to come. Not sure what it is but it could affect the whole world economy.

[wxa7115]

As I've said many times before, crypto behaves in many strange and bizarre ways. Coins that were never thought to become valuable, are now worth serious money as people join the crypto/blockchain craze. Some projects have unique features that are actually useful, while others are nothing more than a direct clone of the original project. One thing for sure is that the industry has achieved a lot in only 12 years since Bitcoin's inception.

It's up to this date where we have a plethora of wallets, exchanges, and services around the crypto/Blockchain space. Progress has been pretty good so far, but crypto is still not user-friendly as one would thought it would be. Not everyone is tech-savvy these days, so new features on a cryptocurrency may prove to be quite confusing to the average person. If I have to say there's one weird thing about crypto, is that prices move in many unusual ways. Some cryptocurrencies' prices are unmoved regardless of what happens in the real world. Others are directly linked to real world events (although not like stocks). It's a crazy world we're living in these days, where crypto does the impossible.

What do you think is the weirdest thing about crypto? Your input will be greatly appreciated. Thank you.

Probably the weirdest thing has to to be the fact this market exists at all, I mean bitcoin and other cryptocurrencies are competing against the strongest monopolies on earth, governments which were the only ones allowed to print currencies and banks and not only this market is surviving but thriving and this is incredible.

Banks and governments have done everything they could to destroy and hinder this market and yet they failed, so this is a testament of the incredible strength that this market has and how its future is incredible bright despite having those gigantic opponents trying their best to stop this market from growing.

[perfect999]

As I've said many times before, crypto behaves in many strange and bizarre ways. Coins that were never thought to become valuable, are now worth serious money as people join the crypto/blockchain craze. Some projects have unique features that are actually useful, while others are nothing more than a direct clone of the original project. One thing for sure is that the industry has achieved a lot in only 12 years since Bitcoin's inception.

The fact that nobody talks about how there is this made up money in 2008 that made some people billionaire. I mean it is insane to think about how some people became insanely rich just because we created our own coins. I once bought a car thanks to it, how insane is that?

We are basically in the world of made up richness and that really confuses me a lot sometimes, like how the hell did I became so rich, who paid for the price to go up. Then it hits you, the real weird thing "nobody has to buy for the price to go up", yes you heard it right, there could be ZERO buying and the price can still go up, that is the most weird thing ever, how? If collectively all of humanity decides that bitcoin worths 100k, then everyone will remove their orders and put them on sale at 100k and won't sell under that price, doesn't require any buyer, that is just what sellers requests all together.

[oprahwindfury]

More refined innovation positively adds an ever increasing number of peculiarities. However, be grateful for the quirks of cryptographic forms of money we have an optimal position which as of recently has given extraordinary assistance, particularly according to a monetary perspective.

[tygeade]

Well, there can never be only one product, once a product is released to the public, there will always be other copies of that same project that will come after it as alternative.

It’s just like we have cars, there is not only one car industry, there are so many of them around these days, so many brands and you have to go for the ones you like. That’s just how it is in the cryptocurrency market, there are so many alternatives to bitcoin, and a lot of them claims to do what it does better. But, as an investor it’s up to you to be very careful and avoid those that are not good. You have to do your research and analyze the project to know what’s best for you.

[Shallow]

One of the weirdest thing about crypto is the way it surprises everyone most times with stuff you don't even believe in. A good example for better understanding is that of Meme tokens, I mean, Doge as the first wasn't even regarded as a good coin neither did anyone take it serious, but just like that everything changed and today it is leading the pack of other Meme projects and even listed on top exchanges more than other good coins.
Another weird thing is that, most times an abandoned project or airdrop will be recognised and it will start pumping, thus giving people unexpected and good money; a good example is Whacked airdrop which was done years ago.

[tvplus006]

One of the weirdest thing about crypto is the way it surprises everyone most times with stuff you don't even believe in. A good example for better understanding is that of Meme tokens, I mean, Doge as the first wasn't even regarded as a good coin neither did anyone take it serious, but just like that everything changed and today it is leading the pack of other Meme projects and even listed on top exchanges more than other good coins.
Another weird thing is that, most times an abandoned project or airdrop will be recognised and it will start pumping, thus giving people unexpected and good money; a good example is Whacked airdrop which was done years ago.

All this is a consequence of an unregulated market, when a "big wallet" can pump and dump any coin with impunity. Such manipulations are also found in the stock market, but they are suppressed by the SEC and the perpetrators are criminally liable. The time will come and the cryptocurrency market will lose its volatility as a result of its regulation.

[aditasetia123]

i think MEME coins pumped be the weirdest thing in crypto market for me , i am thinking there are alot better project that deserve to get more appreciation from investors  rather than DOGE. Influenced from popular figure now looks like be more important than project fundamental for some investors. We dont realize the pump and dump scenario that playing by whales at this moment. This is strange point for me now.

[Abiky]

The weirdest thing might be the fact people are fine about paying huge transactions' fees in a daily basis.
It's hard to understand why people are wasting so much money with expensive fees in some moments when the network is overloaded. It really looks like they are trying to hide these transactions from their local authorities so they don't care about extra costs since they can fly under the radar.

You know what's also weird about crypto? People are making money like crazy by copying an image from the web and selling it as an NFT. And the hype doesn't seem to stop, as new NFTs hit the market. It's completely insane since anyone can make millions in NFTs even if they have no intrinsic value. The unpredictable nature of crypto/Blockchain tech makes many serious investors skeptical about it. Things would've been a lot different if the industry was more regulated and taken seriously. Weird things like the ICO boom and the NFT craze, make crypto far distant from reality. That makes me wonder, what will crypto come up with next?

[wxa7115]

The weirdest thing might be the fact people are fine about paying huge transactions' fees in a daily basis.
It's hard to understand why people are wasting so much money with expensive fees in some moments when the network is overloaded. It really looks like they are trying to hide these transactions from their local authorities so they don't care about extra costs since they can fly under the radar.

You know what's also weird about crypto? People are making money like crazy by copying an image from the web and selling it as an NFT. And the hype doesn't seem to stop, as new NFTs hit the market. It's completely insane since anyone can make millions in NFTs even if they have no intrinsic value. The unpredictable nature of crypto/Blockchain tech makes many serious investors skeptical about it. Things would've been a lot different if the industry was more regulated and taken seriously. Weird things like the ICO boom and the NFT craze, make crypto far distant from reality. That makes me wonder, what will crypto come up with next?

Without a doubt that is the kind of stuff that make people think that this market is not real and make them think that all of this is a scam, however taking into account that this is a decentralized market things like that were inevitable, the only way to avoid becoming victim of those scammers is to use our common sense and while it is possible that maybe in the future NFTs will serve some important function that is not the case right now.

And it is because precisely because of what you are saying, anyone can copy a file or an image from the Internet and try to sell it as an NFT, however since you get no exclusive rights to exploit those files or images then it is completely useless to buy any NFT at the moment.