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Author Topic: Altcoins are killing Bitcoin and Cryptocurrency as a whole  (Read 9431 times)
dontCAREhair
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November 13, 2014, 08:07:16 AM
 #161

But no, instead we have thousands of 'shitcoins' made strictly, for the most part, to scam investors for a quick buck.

Whenever anything valuable/innovative is created you can be sure someone will try and create a competing fake in the attempt to turn over some easy money. All you have to do is look at the copycat stuff produced out of China on a regular basis.

But yeah, I do agree with you that a majority of altcoins serve no other use than as a pump and dump. But then again a lot of the userbase saw the whole Bitcoin idea as a get rich quick scheme.
The altcoins creators do not even need to engage in pump and dump, all they need to do is manipulate the ICO and they will be enriched by creating what is essentially nothing
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