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I share your sentiments regarding altcoins. EOS is a great example. It is centralized, it is corrupt, it exists entirely to make profit for the 21 Block Producers who have complete control over
all EOS coins, including the ability to reverse transactions, freeze accounts, even confiscate your coins or transfer them to someone else, all without your consent or even knowledge. It prints new EOS out of thin air every day and uses it to reward the Block Producers for being corrupt. Most of the dev team took their profits from the frankly ridiculous ICO and left, having delivered nothing but promises and no actual product. The entire thing is a joke, and yet it has a "marketcap" of $3.2 billion and the altcoin sections are filled with people shilling this trash who have absolutely no understanding of any of the points I just made.
Blockchain technology in general suffers from the same blind shilling. Again, you can find people all over this forum and others saying how blockchain is going to revolutionize *insert industry here*, with no details whatsoever as to how exactly it is going to do so, as if it is some magic spell - simply invoke the "blockchain" and your company will be more successful! I've been called an idiot on these forums for suggesting that perhaps blockchain isn't required is literally
every industry. It's this kind of blind faith and shilling that makes us look shady to the rest of the world.
I pay almost zero attention to the day-to-day price of bitcoin, and wouldn't have known about this recent dip were it not for the forum being flooded with newbies proclaiming that "bitcoin is dead!!!11". I think a bear market is a good thing right now - the entire market was overvalued and overhyped. Some time for many of these trash altcoins to die and to flush out the "get-rich-quick" type folk is badly needed.