Forbes' ‘Good for Nothing' Blockchains

redsun114

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Quote from: moneystery on May 01, 2024, 10:51:47 PM

i don't know what they mean by posting things like this, but i don't really agree with what they say. because from the list they included, some of the chains they included have pretty good use cases with good development so far. i even saw that the statement they made was just an opinion, without any concrete evidence to support it. so i think that we don't need to take what they say too seriously, because we know that forbes is a government-controlled media, so their articles might be biased.

Well, it maybe to seek attention again. We know sites like this, they are always like that or want that and it doesn't matter if they are out of the limelight already or are still popular. Like you, I won't also agree on what they say for the most cryptos in the list because they are old and great. Up until now those cryptos are still kicking.

It's only great that they clear it out that it was only just their opinion because if not, I'm sure people will take them seriously. I checked if they are truly a government-owned or based organization but I only found out that one of their team was once a government official. Guess that is another reason and they try to discredit cryptos again.

Mate2237

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According to some readers and commentors of Forbes articles in the blog sites that most of his information are not correct and misleading. Even at that most of those coins really bad while some of them are manageable. But Monero is not a bad project or coin to invest. I have checked the whitepaper and other articles concerning Monero project and it is better than most of those tokens that have nothing to offer in the cryptocurrency market. Even this is to tarnish Monero, those who understand cryptocurrency and how it works will not give up in it.

And probably it the new comers that will be deceived and not well established members of cryptocurrency.

Sophokles

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I saw the list few days ago and I actually agree with most of them. But i think this research was done few months ago as some of the project like ICP and AR are working with unique narratives that already helped them to pump upward. Kaspa, ADA, BSV, XLM there are actually zombie chain but XRP developed their own technology that can be used to build payment network. This is quit bullish for XRP and their community. I agree with the author about most of the project but not about all of them.

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FinneysTrueVision

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You could pick any amount of altcoins at random and most of them would probably be almost completely useless. It wouldn’t be surprising if they came up with this list by throwing darts at a board and wrote something basic that vaguely makes sense, without bothering to do much research.

Out of all the coins mentioned XRP is probably the most overhyped and overrated. I don’t know how it’s still in the top 10 in market cap when it barely has any organic support. Most of their paid shills have disappeared. I’m not aware of a single person who uses it, holds it, or is even interested in it and I don’t see anywhere that it is accepted as payment.

Is it even a blockchain if it’s just a centralized database?

Hispo

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The fact they dared to include Monero as a "Good for Nothing" coin or project tell a lot about the lack of knowledge or bias of the author of this list.
Monero does exactly what it was designed to do, to be a cheap, fast and private Proof of Work Coin which puts privacy as a priority for their holders and users. It is something many other Proof of Work coins have failed to do in the past. Obly because of that detail we should not take this list seriously in any way, shape or form.
Also, they are belittle coins which share characteristics with Bitcoin but are fastest and cheaper to move around, specially when the Mempool of Bitcoin is congested with much garbage. The only thing which could do this list to feel more non-sensical would be if the author included Bitcoin as well. Roll Eyes

I am starting to believe these kind of articles are nothing but subtle ways for people not to get interested in Monero, as a form to attack liquidity of that specific project. It has already been banned from my Binance, next step would be to scare people off investing on it.

terrific

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What's wrong with Monero?
Our most liked privacy coin has been a "good for nothing" blockchain for Forbes? The author should research more before including that.
But maybe he's pissed off with the government tracking down exchanges where it is listed asking them to delist XMR.

Emperor of Man

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Kind of surprised to see cardano, algorand and fantom here. Huh

Also even if forbes articles are not high quality, I think this kind of stuff reaching many ears causes FUD for these projects and I prefer to stay away, even if I consider them good tech.

electronicash

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Quote from: Belarge on May 02, 2024, 10:58:50 AM

Quote from: kotajikikox on May 01, 2024, 10:10:16 PM

You’d think that Forbes would do more research and hire writers that aren’t biased and do not run off with just one specific idea to twist an entire project. A lot of their reasoning aren’t objective and seems to be hugely subjective.

They need to do better as their name has already owned credibility and for them to be making pieces like this will not help them. This is why I avoid any article released by Forbes recommending something especially if it’s related to crypto.

Forbes have their own reasons to ruined the images of crypto projects because they've thoroughly spoiled the basic essential information and portray, on the other hand, are they really doing this for engagement or for heavy flow of traffic? Crypto is another dimension to earn stable income and we should always brings our best ideas to explore for our own good. Forbes is reliable but certainly not on all trends because they're just like other bodies when it comes to generating legit information to the society.

there are so many good-for-nothing blockchain they could list but the ones that i expected to be on the list weren't on their list. whether they spread fud for these projects or not, the memecoins and others that were more considered shitcoins by the altcoins community aren't on the list. with this, i don't think they are generating legit info, the comments they provided on the left made them misinformed.

it would have been clearer to see which teams paid forbes to list these if they had a list of recommended blockchains.

tsaroz

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Crypto market has been on an ever increasing trend just because of speculation of it. But the value of money is limited. Even if we are generating more coins, they need to be bought using fiat currency and there are so much fiat people are ready to invest in crypto. The market valuation of crypto is already large and with son many new entrant, there are limited money that's coming in as new investment and a lot of it jumping around looking for trend. The market won't be able to rise equally for all coins.
In that situation, these are the large cap coins that would fall first.

Belarge

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Quote from: kotajikikox on May 01, 2024, 10:10:16 PM

You’d think that Forbes would do more research and hire writers that aren’t biased and do not run off with just one specific idea to twist an entire project. A lot of their reasoning aren’t objective and seems to be hugely subjective.

They need to do better as their name has already owned credibility and for them to be making pieces like this will not help them. This is why I avoid any article released by Forbes recommending something especially if it’s related to crypto.

Forbes have their own reasons to ruined the images of crypto projects because they've thoroughly spoiled the basic essential information and portray, on the other hand, are they really doing this for engagement or for heavy flow of traffic? Crypto is another dimension to earn stable income and we should always brings our best ideas to explore for our own good. Forbes is reliable but certainly not on all trends because they're just like other bodies when it comes to generating legit information to the society.

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I agree to all of it. All the reasons given are valid and everyone should consider it before investing on any of them. Almost all of them are dying projects.
I'm a bit defensive about Litecoin, it might be my bias but I believe Litecoin would still be popular at least a decade more. It has a good accumulation from whale.
Monero too is still quite popular in dark web but is dying due to heavy restrictions. I've recently been suggesting people Ripple, Cardano, EOS and Steller are dead. Same is for Algorand and Tezos. I got a little bit excited and at times held ICP and Kaspa but a few months and I realized, they are not developing forward. Other coins too are useless.

yazher

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Those coins are still on the top of the crypto market due to their huge demands and circulations among exchanges and the people behind them are also making good decisions in order to make their altcoins top. on the other hand, they failed to expand the number of usage for their coins which kinda makes their investors less assured about holding such coins for the long term and will leave them in doubt whenever the crypto market is not doing well because they know that compared to other altcoins like ETH and BNB theirs are no match since it does not help anything to change the current situations of the world in any means or sense.

Apocollapse

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I'm surprised why they can list so many useless coins but they missed Binance Coin which always on the top 5 ranks.

Seriously, BNB is the most useless token that has a very huge market cap, if Binance fell, BNB 100% will falling down. We have seen many centralized sites issues their own token, when their sites had a problem, their token price will decline, there's no survivability if you hold CEX token.

Perhaps, they afraid if Binance froze their accounts or Binance didn't want to have a partnership with them. Roll Eyes

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Quote from: Bureau on May 02, 2024, 12:20:45 AM

I guess the media house like Forbes forgot that crypto was never meant to be used to solve real world problems, whereas it was created to be the currency of the internet.

To be fair — bitcoin/crypto being the currency of the internet does solve some problems, no? Decentralization, the fact that your funds are always accessible(as long as you don't get hacked/scammed); especially if you're in countries where the government are too 'harsh'.

Quote from: Bureau on May 02, 2024, 12:20:45 AM

After seeing the list I am certain about one thing that everyone except the crypto community hates Monero.

It's probably just total ignorance from their part tbh.

hugeblack

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Forbes does not focus on the quality of its articles, especially in cryptocurrencies, where many people’s information is limited and investments are emotional. Therefore, for example, DOGE was not considered ‘Good for Nothing’ Blockchains, and if this article had been 3 years ago, it would have been classified as such.
Some of these coins are good and need to be re-characterized, and most are very bad, such as ICP.

Bureau

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It is just a decade-old industry and already the media is contemplating the real-world usage of the listed cryptocurrencies. I guess the media house like Forbes forgot that crypto was never meant to be used to solve real world problems, whereas it was created to be the currency of the internet. After seeing the list I am certain about one thing that everyone except the crypto community hates Monero. This fear of Monero has been growing so much that they listed it as a useless crypto whereas it solves the biggest issue of the real world which is privacy.

mk4

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Knowing how much crap we have in this industry, I don't know why of all coins they've chosen to add Fantom, Monero, and Arweave; at the very least these 3 have a small amount of actual usage.

Most especially Monero. It's pretty much the de-facto privacy coin.

moneystery

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i don't know what they mean by posting things like this, but i don't really agree with what they say. because from the list they included, some of the chains they included have pretty good use cases with good development so far. i even saw that the statement they made was just an opinion, without any concrete evidence to support it. so i think that we don't need to take what they say too seriously, because we know that forbes is a government-controlled media, so their articles might be biased.

kotajikikox

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You’d think that Forbes would do more research and hire writers that aren’t biased and do not run off with just one specific idea to twist an entire project. A lot of their reasoning aren’t objective and seems to be hugely subjective.

They need to do better as their name has already owned credibility and for them to be making pieces like this will not help them. This is why I avoid any article released by Forbes recommending something especially if it’s related to crypto.

Topic: Forbes' ‘Good for Nothing' Blockchains (Read 320 times)