Topic: Shitcoins are necessary for the economy (Read 389 times)

Most of these coins are like a lottery game. Their success or failure is a mistery until it happens. It's hard to distinguish legit coins from fake coins at their early stages, but I believe it's part of the game... That is what makes this market interesting for many, the different probabilities.

For people who wants to avoid risk, they can buy a coin on its later stages, when the coin have already prooved to be a good deal or not, if it came to stay or to disappear like a Ponzi.

Once you restrict the currencies development because scams, all the legit ones will suffer together, especially for $$ reasons.

I just went half way through your post (too big, should have added a summary for those who TL;DR) and got an idea about what you are trying to say. No shit coin is never good for a the economy. People who invest on those shit coins lose a lot and then those coins end up creating a bad impression about crypto currencies. Negative impression about something is never good for the economy.

But they better not create weka shots by themselves. Many times it comes to mind that they are creating these sheets for their own greed purpose where they want to earn lot of money out of scams. It's all about the trust. Though it's our decision to get into crypto or not then also it's their fake advertising which attracts us and if we don't show trust at all then how their crypto will work anyways. So you see there should be bidirectional approach where we can trust the crypto inventors and they can trust us as well. In long terms coins turn into shits because crypto developers go crazy by making the project look like scam and somtiems it becomes real scan too. They are necessary or not don't know but they shouldn't be there at all.

Everyone is free to create their own Crypto-Currency, it's useful for people who want to gain experience, train their skills, for hobby, fun, for personal purposes, etc. And it's not right to blame these developers and their coins. As OP said very clear, no one is forced to invest in any coin, you are free to choose what currencies to support. If you want to weak "shitcoin's" strength just don't put your money on them.

Respectfully I agree with you. We must have the shits among us to know what's good for us. We must see to choose the right one and being able give it a good reason. But the thing is, there are waaaaaaayyy too much shits all over the crypto world. We don't need all these shits. We don't need to compare 1.5K or more shitcoins to know how shitty they are. It should been a total number of 50 crypto coins (at the very most). They are all currency serving the same goal, why so many of them?

Recently, I have noticed much hate against shitcoins. I totally get that, so many ICOs stealing money and giving nothing in return. Just pure greed by so many people, making over 1,000 cryptocurrencies right now according to CoinMarketCap. At least 95% of them will not seal in history or even survive but does it mean we don't need? I mean if Bitcoin was the only the currency in the market how could we know if it's good or bad. If Usain Bolt was the only runner on the field, how could we know if he's fast or not? We must see the bad to know what it's good. Someone once told me "Only in the jungle lions grow" meaning that we need the crypto market to be a jungle to see some lions such as Bitcoin, Ethereum and etc.

Eventually, it's our choice if we want to fund those ICOs or not. We decide if we believe in this project for a change or not. A lot of money will be lost in the crypto market and that's obvious, like the fact that so much money is made in the crypto also the opposite. If people rather take risks and choose random ICOs it's their choice or even coins that offer nothing special than the other competitors. It's all about comparison, right now we see so many awful coins but in the long-term future, we will realise that it made big legends more determined. Looking at Bitcoin, Ethereum and Litecoin doing this all those years while some coins rise and some fall it's showing how good and stable those coins are. If we want for mass adoption around the world the real coins need to surpass many more, and only after many years of progress and proving themselves again every time then they will become a currency, a real coin.

What I am trying to say is that shitcoins are here and they will be here and I won't be surprised if there would be above 10,000 useless coins and so on.
Because eventually it doesn't matter all the noise and it only matters how the strong coins keep going forward and adopting many targets every time.
And those lack of future coins will fall anyway so our job is to keep focused and let everyone opportunity to prove themselves, technology is the thing that matter and if you can produce you are fitting into the high class and if you can't then you are just a garbage but nice try anyway.