⭐ Merited by Taskford (1)
It's not a "scheme", but if you want, you can add another point to your list:
SHITCOINS
Usually, Shitcoins are losing value compared to Bitcoin and it's rather risky for Beginners to decide to chose Shitcoins over Bitcoin. I've written an analysis here why holding BTC is less risky for Newbies: Is diversification into different coins really a good advice for Newbies?
And here a short explanation what's a shitcoin (not all Altcoins are shitcoin but 99% are):
- The coin does not offer any important added value compared to existing coins.
- The coin was mainly launched to bring financial gains to the issuers. (most ICO Shitcoins)
- Excessive marketing praising the coin as a "new Bitcoin" while the technology behind the coin doesn't justify that bold term.
- Centralized coins that deny this fact by their misleading marketing.
- The price is deliberately manipulated by the issuers, by false technical promises or unfair token economics with coins, which are misleadingly deducted from the current supply (high number of tokens (often locked) for the team), etc.
- Coins that undermine the liberal-democratic idea of Bitcoin. (centralized Shitcoins like XRP, Libra etc.)
- If the CEO is a proven liar. (Shitcoin SV)
Usually, Shitcoins are losing value compared to Bitcoin and it's rather risky for Beginners to decide to chose Shitcoins over Bitcoin. I've written an analysis here why holding BTC is less risky for Newbies: Is diversification into different coins really a good advice for Newbies?
And here a short explanation what's a shitcoin (not all Altcoins are shitcoin but 99% are):
- The coin does not offer any important added value compared to existing coins.
- The coin was mainly launched to bring financial gains to the issuers. (most ICO Shitcoins)
- Excessive marketing praising the coin as a "new Bitcoin" while the technology behind the coin doesn't justify that bold term.
- Centralized coins that deny this fact by their misleading marketing.
- The price is deliberately manipulated by the issuers, by false technical promises or unfair token economics with coins, which are misleadingly deducted from the current supply (high number of tokens (often locked) for the team), etc.
- Coins that undermine the liberal-democratic idea of Bitcoin. (centralized Shitcoins like XRP, Libra etc.)
- If the CEO is a proven liar. (Shitcoin SV)
I think the best thing to describe this is to not invest in shit coins, You should study or do research when you are going to invest in a token or an ICO. Most of the tokens in the market are shit coins because they were just thousands of cryptocurrency in the market which dividing the demand of the community in a token. If you are going to invest in a token that has a shitty team or developer you might just end up investing in a shit token these coins might not even reach the market.