Topic: Bitcoin caused the mass production of altcoins and air coins (Read 526 times)
Of course, because the creators of altcoins want to get their own small piece of the pie.
Because a lot of money is made through Bitcoin, people are greedy and want to share a piece of cake to eat, and everyone can issue coins. So there are a lot of altcoins. If it is a new currency issuance, if you invest, you must understand clearly before investing. Now there are a lot of scammers. Don't be deceived.
As Bitcoin is gradually becoming known to the public, this financial and economic feast brought by technology geeks.
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
I just think people need to trust bitcoin, that was the origin of everything we see around, and stop listening to crypto gurus who say altcoin X or Y is going to surpass bitcoin growment soon and become a top coin in the market. If investors stopped doing that, there could be infinite altcoins disponible that they wouldn't cause any negative impact in the market.Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
At the end of the day the issue aren't altcoins intensive development, people promoting them, manipulative whales or mainstream fud. The real issue is the investors' behavior which keeps falling for such empty promises and there isn't any solution besides investors changing their personal mindset.
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Recently, South Korea exposed a Ponzi scheme under the guise of virtual currency. 69 thousand people were defrauded of 3.85 trillion won, or about 22.1 billion yuan. Among them, many of the deceived persons are elderly people.
I very much agree with your point of view. The greed of human nature and the fluke of getting rich overnight, especially some elderly people, are sometimes willing, which is very strange. "Investment" with high profits as bait has become the most current scam. When the stomach is not full, gold is not gold. Be more rational. Altcoins are not a pie in the sky.
As long as there are no regulations that restrict anyone from being allowed to create their own crypto, but with this opportunity there are many fraudsters in the name of crypto, there are many who are taking advantage of the bitcoin situation that was up yesterday to make airdrops and some are valuable but mostly zonk.
I think this happens because the idea of being unearthed on bitcoin keeps coming up, so there are always coins with innovations and new concepts. make so many air coins, as well as other altcoins, although with the same concept, it's like not wearing copyright because here we are transparent and open source.
As long as the block chain and the data mining technologies grow, these cryptos will never cease to stop. Sure bitcoins have given a way to the production of various altcoins and aircoins and more people are paying their attention towards them. Have to wait to see how this goes.
Is it bitcoin that cause it or blockchain? From my own point of view I think blockchain is the reason why we have so many alts in the crypto space since anyone can literally use blockchain to create their project since it is open source, bitcoin only only contribute to it, many dev got inspired by btc that they decided to create their own project hoping it solve those problems bitcoin could not solve, before you know it there a thousands of altcoins all claiming to address one issue or another.
As Bitcoin is gradually becoming known to the public, this financial and economic feast brought by technology geeks.
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
It is usual thing for every direction that is connected with money, assets and so on. There are lots of projects outside the crypto world that create lots of hypes and some kind of ICO, IDO. Of course lots of people would like to create something huge, massive, powerful like Bitcoin, that is why they try to create altcoins and enormous projects to attract money. Of course Bitcoin is a fundamental thing and will be forever. It's like the automobile creation. There are and there will be lots of models of different colours, construction and engines, but the first auto created long-long ago will stay the fundament for all of them.
As Bitcoin is gradually becoming known to the public, this financial and economic feast brought by technology geeks.
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
I just think people need to trust bitcoin, that was the origin of everything we see around, and stop listening to crypto gurus who say altcoin X or Y is going to surpass bitcoin growment soon and become a top coin in the market. If investors stopped doing that, there could be infinite altcoins disponible that they wouldn't cause any negative impact in the market.Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
At the end of the day the issue aren't altcoins intensive development, people promoting them, manipulative whales or mainstream fud. The real issue is the investors' behavior which keeps falling for such empty promises and there isn't any solution besides investors changing their personal mindset.
We all celebrate Satoshi not just because he is the creator of bitcoin, but because he was the first and boldest to take the first step towards the future. Bitcoin is the pioneer crypto currency and it is fair to say that all other creators of the early cryptocurrency that followed studied bitcoin first before their own creations having seen that the step was a step in the right direction towards the future of money.
So "yes", bitcoin caused the mass production of altcoins and other shitcoins. There are over a hundred altcoins out there and most were created by the creators for "pump and dump", a way to gather bitcoins and Ethereum for themselves.
So "yes", bitcoin caused the mass production of altcoins and other shitcoins. There are over a hundred altcoins out there and most were created by the creators for "pump and dump", a way to gather bitcoins and Ethereum for themselves.
That's to be expected, I mean we won't have many brands of cars out there if only Ford was the one that made it right? That's the same for cryptocurrency, bitcoin won't be enough for a lot of people because some of them wants to put their own twist in something that's already existing, it's not something that we should be scared, it's just means that the popularity of cryptocurrency is still going rampant because new coins are being created although you have to do your own research first before anything else because not all these coins are profitable.
Many people see the potential of bitcoin way back before and even by now that's why many decide to create their own company and imitate how bitcoin circulate in the ecosystem and we should glad that this one happen because the existence of bitcoin creates opportunity to us traders and business owner to gain profits from this technology. Also we need to be careful since the crypto ecosystem is full of scam that's why we need to be choosy on what coin we want to invest our money, many said that they are profitable but some of them create for illegal stuffs so we also need to be careful from that.
As Bitcoin is gradually becoming known to the public, this financial and economic feast brought by technology geeks.
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
You can call that, majority of the projects in the market are created expecting to make good returns by the developers and some started for fun just copying the source code of BTCitcoin and launching as their own and to my surprise everything is valued a few years from now and some of them are over $100 even the developers who created them for fun never anticipated, but the market is moving forward and new investment coming in for all the early coin and i am not a big fan of initial offers either because you need to have a trust to the developers to complete the project after collecting the money and the risk factor is really high. Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It wasn't always like this. The "Alternative Cryptocurrencies" were worthy of the name. They were projects that were exploring other possibilities and technologies that bitcoin couldn't or wouldn't try. This was 2011.
Then the developers slowly forgot what altcoins were for and started creating money grab projects where they could make a LOT of money in a short term for doing very little. Then they slowly decreased the amount of work they had to do by copying other projects, and finally by inventing the ICO scam where they don't have to do anything since there is no blockchain anymore and the tokens rely on the existing blockchain of a project made for scamming people!
This won't change as long as the devs and the investors care about making most amount of money in shortest amount of time.
Then the developers slowly forgot what altcoins were for and started creating money grab projects where they could make a LOT of money in a short term for doing very little. Then they slowly decreased the amount of work they had to do by copying other projects, and finally by inventing the ICO scam where they don't have to do anything since there is no blockchain anymore and the tokens rely on the existing blockchain of a project made for scamming people!
This won't change as long as the devs and the investors care about making most amount of money in shortest amount of time.
And some still are,,, except not all of them call themselves altcoins.
In fact, the problem now is that the only ones who still call themselves alts are shitcoins. I think at some point we have to change the forum or at least change the guidance now and "educate" people to show them the world that was painted in 2011.
I suggest even coins that raise money or do ICO/IEO/IDO whatever it is you want to call them are in their own category as these usually have no real development unless there is money raised or tokens sold.
My point of view is actually very clear. Altcoins are not equal to rubbish coins. The key lies in everyone's mentality. I thought of a sentence, can I express my point of view: Many people do not go through the front door, but have to go through the back door, but they open the back door. Got into the arms of the liar. Because too many people look for projects to make money, but they don’t go back to look at project white papers, technical white papers, audit reports, mathematical models, etc. In the world of altcoins, a team of 100 people may deceive only one person.
I called altcoins-air coins, because they are invisible and intangible, because there is no application scenario, the number of the wallet gives us too little meaning, and it is easy to find the air where you invest. Many garbage coin projects are more like a blood-sucking mosquito. The only purpose is to get our money.
The goal is just to make a profit and then abandoned. Many rugpull projects I've known. They are just speculative coins that are constantly promoted so that they go up drastically and then when many buy them the developers will do a big sale so there is no luqudity left. Do not entrust your money in one basketball because it is very risky. Recognize and learn. Sell when it is profitable than rugpull. As Bitcoin is gradually becoming known to the public, this financial and economic feast brought by technology geeks.
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
I have never heard altcoins be called air coins. That's a good one. But to the point, price crashes or a prolonged sideway price movement usually makes it unattractive for scammers to operate because there simply aren't enough participants in the market to victimize with "air coins". So in a way flat markets are good for the reason of washing out scammers.
I called altcoins-air coins, because they are invisible and intangible, because there is no application scenario, the number of the wallet gives us too little meaning, and it is easy to find the air where you invest. Many garbage coin projects are more like a blood-sucking mosquito. The only purpose is to get our money.
In every new discovery there will be hundreds of opportunities of all kinds, there will be people of all kinds as well, good and bad, and there will always be people trying to exploit and deceive others, for example when America was first discovered immigration began to a new land and people got thousands of opportunities It is good to invest and get rich but at the same time there were other people who were deceived that they would get the gold as soon as they got there but they ended up becoming slaves after they were deceived.
Bitcoin is the same because it is a new discovery. People have had thousands of opportunities and some of them have become rich as a result of investing in Bitcoin, but at the same time there are many people who have lost their money because they were deceived and their money was stolen by scammers and chitcoins.
The only solution is to spread crypto culture among the people and warn everyone about scams and alert people that no one can get rich just by getting some bitcoins or chitcoins.
Bitcoin is the same because it is a new discovery. People have had thousands of opportunities and some of them have become rich as a result of investing in Bitcoin, but at the same time there are many people who have lost their money because they were deceived and their money was stolen by scammers and chitcoins.
The only solution is to spread crypto culture among the people and warn everyone about scams and alert people that no one can get rich just by getting some bitcoins or chitcoins.
It wasn't always like this. The "Alternative Cryptocurrencies" were worthy of the name. They were projects that were exploring other possibilities and technologies that bitcoin couldn't or wouldn't try. This was 2011.
Then the developers slowly forgot what altcoins were for and started creating money grab projects where they could make a LOT of money in a short term for doing very little. Then they slowly decreased the amount of work they had to do by copying other projects, and finally by inventing the ICO scam where they don't have to do anything since there is no blockchain anymore and the tokens rely on the existing blockchain of a project made for scamming people!
This won't change as long as the devs and the investors care about making most amount of money in shortest amount of time.
Then the developers slowly forgot what altcoins were for and started creating money grab projects where they could make a LOT of money in a short term for doing very little. Then they slowly decreased the amount of work they had to do by copying other projects, and finally by inventing the ICO scam where they don't have to do anything since there is no blockchain anymore and the tokens rely on the existing blockchain of a project made for scamming people!
This won't change as long as the devs and the investors care about making most amount of money in shortest amount of time.
And some still are,,, except not all of them call themselves altcoins.
In fact, the problem now is that the only ones who still call themselves alts are shitcoins. I think at some point we have to change the forum or at least change the guidance now and "educate" people to show them the world that was painted in 2011.
I suggest even coins that raise money or do ICO/IEO/IDO whatever it is you want to call them are in their own category as these usually have no real development unless there is money raised or tokens sold.
Bitcoin is open-source, and it's fairly simple to create one's own coin. So of course, many go for it, especially since it's low-effort but potentially profitable. But I see it as a fair side effect of having Bitcoin in our world the way it is, and the side effect sometimes even leads to creation of pretty good coins and platforms, so it's not all bad. I don't think it's an issue we have to do anything about. Regulating who has the right to create altcoins and under which conditions would be against Bitcoin ideology. And it's not that hard to navigate the world of cryptos, as a simple sort by market capitalization is usually enough to see which coins have something in them and which are most likely rubbish.
Bitcoin was the first successful cryptocurrency so it would be the one who would be copied or at least gave them idea.
It has always been like it , It only needs one to start something and if it blooms surely others would try to compete with it.
It has always been like it , It only needs one to start something and if it blooms surely others would try to compete with it.
That's to be expected, I mean we won't have many brands of cars out there if only Ford was the one that made it right? That's the same for cryptocurrency, bitcoin won't be enough for a lot of people because some of them wants to put their own twist in something that's already existing, it's not something that we should be scared, it's just means that the popularity of cryptocurrency is still going rampant because new coins are being created although you have to do your own research first before anything else because not all these coins are profitable.
Many people see the potential of bitcoin way back before and even by now that's why many decide to create their own company and imitate how bitcoin circulate in the ecosystem and we should glad that this one happen because the existence of bitcoin creates opportunity to us traders and business owner to gain profits from this technology. Also we need to be careful since the crypto ecosystem is full of scam that's why we need to be choosy on what coin we want to invest our money, many said that they are profitable but some of them create for illegal stuffs so we also need to be careful from that.
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