Topic: Fork generated market cap? khm (Read 173 times)
There is no way of knowing if a coin is scam or not when it is newly published. All the new coins show a lot of promise, so there is no way to detect the scam there and then. However a careful observer can root out a possible scam and go for the good coins. Of course there are always risks there.
if we just knew we could have forked coins everyday and we'd have more money! same thing ETC back then but it has the support of community like BCH which they are now mining.
we can't just stop them from forking, its always been free for all and we may never knew which is a scam unless they explicitly do it.
There is no way of knowing if a coin is scam or not when it is newly published. All the new coins show a lot of promise, so there is no way to detect the scam there and then. However a careful observer can root out a possible scam and go for the good coins. Of course there are always risks there.
Usually, everything we do has some greed behind it. And the new coins, the seduction of more benefit everything comes following that. And all the new forked coins, the money comes just like that, and it might go on too. So unless you're a person researching on economy, that shouldn't be a matter of concern.
So can we not declare that the global market cap as such is not a sound indicator for what it is meant to define?
Ignoring the presence of tether there is still no way that's a genuine number, on a theoretical level when btc was forked for the first time, where did the money come from to back up btc cash, (still today at $7.7b cap, and $450m for btg)?
I guess in a sense the same would happen if everyone wanted to cash out from crypto as is the case with fiat.
Which leads to the pivotal part of the question, we are still in a very immature phase don't we agree? Why was it accepted without a second thought that a newly forked coin has xy market cap out of thin air? (okay that's greed and lack of regulation we know that but still).
I'm trying to approach this from the value of the tech point of view, and not from my wallet's perspective. It's really going to have to withstand a hell of a beating to get through these scammy times...
Thoughts?
Ignoring the presence of tether there is still no way that's a genuine number, on a theoretical level when btc was forked for the first time, where did the money come from to back up btc cash, (still today at $7.7b cap, and $450m for btg)?
I guess in a sense the same would happen if everyone wanted to cash out from crypto as is the case with fiat.
Which leads to the pivotal part of the question, we are still in a very immature phase don't we agree? Why was it accepted without a second thought that a newly forked coin has xy market cap out of thin air? (okay that's greed and lack of regulation we know that but still).
I'm trying to approach this from the value of the tech point of view, and not from my wallet's perspective. It's really going to have to withstand a hell of a beating to get through these scammy times...
Thoughts?
Jump to: