You know I'm becoming convinced that these markets are manipulated. Why would a loser project like "pot coin" rise so hard and crash so fast like that? Nobody should have ever even heard of it. People were talking about FOMO on "pot coin". FOMO ON "POT COIN". What!?
I know this is probably not news to anyone but im naturally extremely skeptical of everything. So I wasnt convinced till now. But closely watching the rise and fall of "pot" has convinced me. I just cant comprehend an organic growth driven process for what that "pot coin" chart looks like. So I really think some group of people pushes these things up in large conspiratorial calculated moves.
If this is the case they probably did it to our baby monero too. They used and abused her. Most of the buyers almost certainly had no understanding of the potential like we do. And I mean the market leaders not just the whale chasing FOMO zombies. That's not at all why they were buying.
But hey they say no press is bad press. So we will probably settle at a higher level than we started thanks to this "pump" and we still have the organic adoption to look forward to.
Very true... It happens to nearly every coin out here. Once you know, you start to recognize the pattern and won't be fooled (most of the time...).
There are only a few coins out here with real use cases and even then there is almost no direct market. In case of Monero if a large amount is needed for a transaction it's bought instant, the deal is done and the other party sells the coins. So Monero is used as a transport and very little is stuck in wallets. This will change in time but it's a slow adoption process.