Quote from: VentureC on December 05, 2015, 07:33:32 AM

Quote from: Brob12321 on December 05, 2015, 04:37:02 AM

What is the point of having a different coin for each and every possible hobby or product. That is not how a currency works, it is supposed to be universal. That would be like having a couple dollars earmarked for buying technology another couple dollars that you can only buy food with, it just doesn't make any sense. And what can you do with this currency ? Is there a store that accepts this ? Are there new advancements in the vegan community that this coin supports ? I don't get the point, its just a random name attached to a bitcoin clone.

You're right, there is no point to it, except that it's just been a way for devs and traders to make money. People keep buying into the next nonsense coin, and as long as they keep doing that it will encourage more devs to release more new crap coins without any innovation. It's easy money.

There are two groups of people who buy into a coin:
1) speculators/traders who couldn't give a rat's ass about the coin but just want to do a quick flip before the Ponzi collapses
2) those who actually are fooled into believing the coin is great and are holding the bag long-term.

The first group wins, the second group almost always loses. When people from the 2nd group lose and have at least half of a functioning brain they will migrate to group 1, and new suckers will need to be found who will buy into the marketing pitch of the next coin.

do bag holders really exist? i think every coin has its cycle. you just have to buy at the right price and then wait. you do not make money with 1000 trades. i prefer to to two or three trades per month and wait. there will always be someone who is buying my coins at a higher price.