Hi all!
Lately, as Bitcoin approaches to 100,000$ I’ve found myself in discussions with friends who are intrigued by altcoins (not only Bitcoin), particularly those tied to AI, and other trending narratives. Many of these projects come with flashy promises, and while I often point out that 99% of altcoins are scams, Ponzi schemes, or poorly designed experiments, but I’d like to build a more well-rounded argument.
You are not sincere about it, how can 99% of altcoins be scams, where did you get your statistics from?
You would have had a valid argument if you said they are manipulatable, but being a scam is just a misrepresentation. Most of them are not poor experiments and neither are they Ponzi schemes. If we remove the meme coins, most of them have real value and the developers are trying their best to make them work.
This is why we should differentiate altcoins from shitcoins, but it seems you are generalising them now. Altcoins have blessed me tremendously in the past 2 years+, I wonder why the many of them I invested in turned out to be a success if truly they are scams.