Topic: Are Altcoins the new "Penny Stocks" ? Will they take over Wall Street? - page 5. (Read 4334 times)

Nope.. Because of regulations.. Or a lack of them.
A very poor comparison.

Further more you are not investors.
And you are not investing in companies.

You are SUPPOSE to be helping get a currency started..
Not warping scam coins into the concept of penny stocks for profits.

Who the hell told you all this was all started for ROI's?
Do you realize no one uttered the words road map or white paper until clone devs started using the term IPO?
And IPO WAS NOT USED FOR THE FIRST FIVE YEARS OF CRYPTO.

REALITY CHECK TIME INVESTARDS..
YOU ARE FULL OF SHIT.
And all you do is keep lowering the bar. 

Quit trying to twist this scammy ICO SCAM facade into something legit.
And yeah I have heard the penny stocks retort endlessly for about 3 years now.
And it's just as dumb as the first time I heard it

By the way we were suppose to be getting away from centralization and companies and the traditional financial system like the stock market.
And.. And..
I expect a whole hell of a lot better than trying to be like the stock market.
The stock market is a scammy joke itself also.
Heard of Martha Stewart or Bernie Madoff?

Who in crypto ever did time in jail for insider trading?
And how many guys would here in crypto?

Hey chucklefucks I expect more from you than aiming to be like some other scammy scene

Right. Because people in crypto worship open source, no money can be made by the company because someone can steal the blockchain tech and use it without repercussions. Actual companies protect their trade secrets and intellectual property and sue those who try to rip it off.

I try to tell my favorite coins to not open source everything so that it can't be ripped off, but it seems to fall on deaf ears.  What big bank is going to pay for the blockchain tech a coin uses if it's all open source?  You have to close source the good tech, and license it out. I hope NEM does that with mijin.

Nonetheless, people including myself do invest in the tech, because I know others will.

However, the people who claim bitcoin has value while altcoins don't, have it wrong. The only value any of these coins has is in what people give them. There are a lot better blockchain solutions out there than bitcoin right now, yet it takes the crown because people perceive it to have value, like gold.  If exchanges allowed any coin to be traded directly for any other coin, and the big fiat exchanges Coinbase and Gemini added more coins, there's a chance things might have had a different ending.

The sad truth is everyone can make a coin of their own, and with that you can consider it as you are making your own product like 'U.S stocks' to sell in the market to have value, it will just depend on what is the aspects of it that doesn't have any other altcoins have, how will you implement it with faster transaction and lower fees or simply creating a name that suit what is your target audience that will use this coin.

We can call it other form of modern penny stocks if we want but at the end of the day it's still a form of currency that we use online, it's just so happen that fluctuation really happens so fast and make it so volatile either pump or dump.

I really see them from the start as penny stocks.

Pump and dump

Nay, shitcoins is an apt moniker.  Are they like penny stocks?  Yeah, I'd say so.  A vast majority of penny stocks are shell companies with no earnings and no requirement to do financial reporting.  Unscrupulous people pump and dump them to the detriment of people who got duped.  Sound familiar?  That's more or less what most shitcoins are.  Pump & dump scams.

I think they are in a lot of ways. However once a coin reaches over a certain market cap there is room for real growth. It usually means its a good idea with people working towards development.

not really, because at least with penny stocks there's some actual potential for revenue. sure, most of it's bullshit but they are real companies attempting to do real things in theory. you can't say the same for almost all alts. they feed off their own asshole in an echo chamber.

The only difference is it's much easier to create an altcoin.
It cost you almost nothing and there're no regulations at all.

I'm guessing that in a few years we'll have more altcoins than penny stocks....

Yes, I think so.  I just invested in 2 ICO's in the past couple of days.

I think we should stop calling them "Shitcoins" and recognize their real value and potential.  

Just like any stock on the stock market - a company can turn a stock around and increase it's monetary value; the same can be said about altcoins.

Lets just call them "PennyCoins" instead.

There are over a thousand companies and stocks listed on major U.S stock exchanges.  Despite tech giants like Apple (APPLE) and Google (ALPHABET) having near trillion dollar valuations, its has not taken away from the other approx 20,000 other stocks sold on various exchanges:

https://www.quora.com/How-many-publicly-traded-companies-are-in-the-world.

There are only only approx 900 Altcoins in the world compared to 20,000 U.S stocks.  

Bitcoin (BTC) has a valuation of approx $40 Billion USD but smaller Altcoins like FOOTYCASH (FOOT)  and Tatoocoin Limited Edition (TLE) have seen 5000%+ increases in the past month.

Are Altcoins becoming the new penny stocks?



UPDATE:

With the Feds now trying to regulate tokens like DAO, does this mean that altcoins are poised take over Wall Street?