•Scams attracts people faster than something legit because something legit takes time, only fraud and scams rushed in attracts people fast.
But if a coin is rising slowly, doesn't invest millions in marketing, it still can be a scam. And if it's not a scam, it's probably just a shitcoin that won't create anything valuable.
Crypto space doesn't have good investment opportunities. It doesn't create something that is actually used by people, and as the result creates value for investors. It only has speculation opportunities - you buy low and the price increases because other people bought after you. Eventually the price crashes and those who bought the latest suffer a loss.
Why do you say that the crypto space doesn't have investment opportunities or it doesn't create something that is actually used by people? There are a lot of projects that provide real and good usages for people, and there are also coins that provide great investment opportunities, Bitcoin is on the top of that list along with some other altcoins.
The fact that there are pump-and-dump coins and tokens doesn't necessarily apply to every single cryptocurrency within the space. I know that there are projects with no real usage opportunities that only exist because they are traded and you can say that about such projects but not for all.
In the future, I hope cryptocurrency will bring more use cases as well as more practical applications. For now, I agree with what he said.
Aside from bitcoin being created as a P2P payment method, the rest of the cryptocurrency is a speculative market that has not yet created any real value. I mean, shitcoin projects are created just for pumping and dumping, we are looking to take each other's money in the market, and if you act fast, you will be the winner.
Most of the projects introduce this technology, that technology, but not a single technology has been recognized and applied in practice. Projects that introduce technology are just secondary, the primary purpose is to sell tokens for profit.
Just like recent AI projects, if I remember correctly, ChatGPT was built and developed 3 years ago, so far, they have released the official version and put it into use. Meanwhile, the market scammers have quickly copied this technology and created a series of projects labeled AI, and the purpose is not to use it but to sell tokens. Tell me, is there any project that grows without a token? And serious technology development, or are all promises just empty theories, sell tokens and then disappear?