Post
Topic
Board Altcoin Discussion
Merits 2 from 2 users
Re: The scams I've seen in crypto
by
The Pharmacist
on 29/03/2018, 23:25:35 UTC
⭐ Merited by BenOnceAgain (1) ,suchmoon (1)
If you think back 20+ years it was the same during the .com boom.
Yep, I remember this very well and I just recently wrote kind of a similar post, likening the dot com bubble to what we're seeing in this ICO market.  People are going irrationally nutty over these things, and they're going to end up utterly worthless--just like those dot com stocks.  I also recall being involved in a biotech stock boom that was happening right around the same time.

A lot of people on bitcointalk are probably young and haven't lived through a crazy bull market, where investors are completely losing their minds.  We probably have a lot of people in their 20s who were kids when the NASDAQ crashed in 2000, and they're the ones who are thinking it's different this time.  And I sit back and LOL, because it's not different.  The asset in question has changed, but the mentality is exactly the same.  This is why I've stayed far away from these projects.  

So yeah, when a new ICO comes out I assume it's just more of the same scammy BS.  Everyone is trying to get rich, the devs, the people buying these tokens, the investors, and they're all on the lunatic fringe of blockchain madness.

Okay guys, and what could you tell me about pure scam coins like Jesus coin or FUCK token.

They have capitalization more than 1 million dollars, they are listed on exchanges, but it really ridiculous because they don't solve any problem. Any thoughts?
Destined to go to zero, but there's a time function for doing so.  The market can stay irrational for quite a while.  That's the crazy thing about bubbles.