Hi all,
I wanted to get some opinions on the current landscape of the crypto world on a a few things and see what people think about where we are right now.
For me personally, after getting back in to crypto say about 8-9 months back, I have never seen anything like what we are witnessing right now in terms of the speed in which new coins are being released. Fundamentally I don't think its a bad thing, but I think that its going to leave newer people feeling very alienated and confused in their understand of what cryptocurrencies do and are.
I know that a lot of the veterans feel that a lot of the newer coins, especially the meme coins are a complete waste of time - as someone who got involved on pretty much Day 1 with DOGE, I can see the benefits it has had to the wider community and non-crypto people and I really applaud it.
Although i've been doing this a while, It's getting to a point now where I feel confused as to where to allocate time/resource/attention with all these new coins being released. There are obviously lots of opportunities to make money and I did REALLY well with DOGE, but with all these new coins coming out, by estimate about TWO a day now, what am I supposed to think about the future of crypto and what the objectives of all these new devs are?
The truth of the matter is, these coins need to have something unique to their predecessors and provide some sort of utility. I don't understand how with over 109 markets available on cryptsy for example, I am able to make an informed decision on anything right now and feel kind of lost. I could always stay in the mind set of just Bitcoin, Litecoin, and strictly one or two other alts. But lets face it, being there on day 1 of a coin and getting to mine some serious numbers to then see that coin hit an exchange, its exciting. But it seems like these exchanges and listing sites no longer have any sort of barrier to entry, and that scares me for the future of the scene. For example, cryptsy literally adds _anything_ and its profit motivated, and I understand, but what is that ultiamtely going to do to Crypto ?
If I'm honest, I don't have ONE particular opinion or school of thought as far as all of this stuff goes right now. I do have my own investing strategies and view altcoins as a vehicle to further my wealth and create something from nothing with. I just feel like there are a lot of people out there who think they can go and create a dollar value out of a nothing coin thats either premined, instamined by them or something to that affect and then make out like a bandit and abandon their projects because their objective all along was to cash out in the quickest time possible, not to add any real value to the community.
FYI - this is not directed at any ONE coin, this is just an overall observation.
Be interested to get some feedback and thoughts
Thanks
Sev
