The main reason this is the case is because there are no professional financial services providing investment options with cryptocurrency. Few people create their stock portfolio on their own, they leave it up to a mutual fund or an actively managed fund to do so. There is no option for this with crypto, so people have to build their own portfolios. What you get is the same as if they just blindly picked stocks. It's easy to do well when the market is bullish no matter what you pick, but once the weaker coins start losing their hype, I think we'll see quite a few big losses.
Ok, I see exactly what you guys mean about the Signature posters.. I guess it's time to start building my ignore list.....
But
Yeah I didn't even know there was such a thing. But again, it leads to my point where I was saying.
People are just making money off selling you a fake bill of goods. Don't take it for batem and do your research!
I had done my research and these guys were driving me bat shit crazy haha. But, now I know. Thank you guys (No, not you MadZ. No one needs a 3rd party to do anything for them in Crypto Currency. You didn't even read my post did you... lol)
No one needs your holier than thou nonsense. I've been following Bitcoin since 2013, so trust me, I know what it is. During that same period of time I've seen it drop from more than 90% market share to just over 30%. Moreover, I agree with you that most people buy coins for the wrong reasons. That being said, it's foolish to blindly assume that Bitcoin will end up being the dominant cryptocurrency just because it was the first to become popular. Cryptocurrency is a revolutionary invention, but it remains to be seen in what way it will ultimately succeed. Personally, I have the majority of my holdings in BTC, however, I hold a non trivial number of alternative cryptocurrencies that have similar aspects (decentralized, mineable). Many of the coins being created recently have little to no use, yet receive hundreds of millions of dollars in investment from people hoping to get rich. Responsible third parties could prevent this from happening on such a large scale if they allocated these funds more efficiently by doing exactly what you said: looking at what service a coin provides/problem it solves, not looking at the potential profit from doing so.