Topic: Is cryptocurrency a ponzi? - page 4. (Read 2024 times)

Comments like "when exchange...", "when Binance...", "when lambo..." etc are mostly from airdrop recipients who got something for free and don't really take the time to research the project

But you're right a lot of the projects are just different versions of the same concepts

With the big hype last year many people are seeking to make profit by creating their own project. Regarding coins (BTC, LTC, Dash & co.): With a bit of knowledge (programming skills), time and dedication everybody can create his own cryptocurrency. Add a bit of marketing and an exchange listing (which also can be bough) and you got yourself a coin and as a founder/developer you will be a whale as you can control the early supply.
As it is so easy to make a coin, tons of new ones popped up but 99% might be of no relevance in the future. However, it is possible that we will big decentralized exchanges and connected widespread payment processors which can convert all currencies cheap and effortless so that all coins will be useful to some extend in the future.

Regarding ICOs: Same as for the coins, lots and lots of new projects. The difference here is: the initiators often want "real" money and "hard" $ instead of crypto. Watch out as for many projects, especially the non-blockchain ones, often it is not clear what function their tokens has, nor would the business as a whole require a token or blockchain solution anyway. So you might end up giving them money, buy lots of their tokens, but the tokens might remain worthless forever, even if their project is taking off...

Still, what I don't get is why we have too many digital assets trying to solve the same problems. Yeah, I get it blockchain is immutable, but most of these projects make crypto look bad.

IMO, it simply looks like the attempt of some whales to scale up their portfolio in BTC and possibly ETH or other more credible platforms.

We see new projects almost every day; and across their community groups (especially telegram) the most audible comments are 'when exchange...', 'when Binance...' As if that's all that really matters.

I may not have the facts, but my gut says well over 50% of these assets aren't faring well. And these are people's investments.

Is there something that could be done about upcoming ICOs with nothing to show (no MVP), to reduce the risks of investing in projects that will just flop?