As Bitcoin is gradually becoming known to the public, this financial and economic feast brought by technology geeks.
Bitcoin is like honey, attracting countless butterflies (altcoins, air coins), countless new projects appearing, ICO.IDO.
It feels more like a comet hitting the earth, leaving big pits. It seems that there are countless treasures waiting to be mined.
The greed of human nature, the inducement of big brothers, the participation of whales, all kinds of good news are flying all over the sky, but the result is just a place of chicken feathers.
Perhaps the sharp drop of Bitcoin and endless washings can calm more people down.
How do you think about this issue?
I just think people need to trust bitcoin, that was the origin of everything we see around, and stop listening to crypto gurus who say altcoin X or Y is going to surpass bitcoin growment soon and become a top coin in the market. If investors stopped doing that, there could be infinite altcoins disponible that they wouldn't cause any negative impact in the market.
At the end of the day the issue aren't altcoins intensive development, people promoting them, manipulative whales or mainstream fud. The real issue is the investors' behavior which keeps falling for such empty promises and there isn't any solution besides investors changing their personal mindset.
Recently, South Korea exposed a Ponzi scheme under the guise of virtual currency. 69 thousand people were defrauded of 3.85 trillion won, or about 22.1 billion yuan. Among them, many of the deceived persons are elderly people.
I very much agree with your point of view. The greed of human nature and the fluke of getting rich overnight, especially some elderly people, are sometimes willing, which is very strange. "Investment" with high profits as bait has become the most current scam. When the stomach is not full, gold is not gold. Be more rational. Altcoins are not a pie in the sky.