Altcoins are Shitcoins

[Nubian Content]

Not a BTC purist, but honestly sometimes I just think there's no point to holding these alts. They all just follow the leader.

The graph continues in similar pattern all the way down. Except the "stablecoins" ofc

 

[Mr Positive]

Happy Realisation lol but hold Ethereum, ripple, sell bch whenever you get the chance

 

[Gogol]

Cryptocurrency is shit. Every coin is a scam. One is a bigger scam than the other. Same goes for BTC as well.

 

[goodperson]

Hope next time it will rise again

 

[andartecca01]

i never think about Cryptocurrency is shit market only big players can play to this market

 

[V]

Yeah, I agree. I bought some shit coins for $200 or so two years ago, and they're still shit. Took me some time to know which ones to buy but they all are highly dependent on the value of BTC.

 

[Nubian Content]

Yeah, I agree. I bought some shit coins for $200 or so two years ago, and they're still shit. Took me some time to know which ones to buy but they all are highly dependent on the value of BTC.

Exactly.

Cryptocurrency is shit. Every coin is a scam. One is a bigger scam than the other. Same goes for BTC as well.

Naa I really doubt that.

 

[Gogol]

Naa I really doubt that.

Tell me then.. What backs crypto currency?
The answer is, nothing. This does not mean that you can't profit off it. It doesn't also mean that "crypto" is not a good thing. But crypto currency? It's just a ponzi scam. Prove me wrong, may be?

 

[yherrliche]

So is that the halving everyone was counting on ?

 

[Thorr]

 

[Elvlin]

Cryptocurrency is shit. Every coin is a scam. One is a bigger scam than the other. Same goes for BTC as well.

your definition of scam is good...

 

[Gogol]

your definition of scam is good...

Ermm what?

 

[Nubian Content]

Tell me then.. What backs crypto currency?
The answer is, nothing. This does not mean that you can't profit off it. It doesn't also mean that "crypto" is not a good thing. But crypto currency? It's just a ponzi scam. Prove me wrong, may be?

An epic technology and billions of people who wants to be free of govt-controlled money - that's what backs Bitcoin.

 

[ziko12345]

An epic technology and billions of people who wants to be free of govt-controlled money - that's what backs Bitcoin.

No, its a scam

 

[Gogol]

An epic technology and billions of people who wants to be free of govt-controlled money - that's what backs Bitcoin.

Haha, I knew this was coming.

First, the technology has nothing to do with cryotocurrency being what it is. Blockchain is an awesome tech, and it can survive without shitcoins. I still do not get what "backs" shitcoins other than mumbo jumbo talks. Yeah, may be let it mature for another 100 years. We shall see. Right now, it is what it is.. A scam.

 

[Deleted member 1333509]

Always a scam when the price is dropping. No complaints when everyone is riding the wave.

The term "scam" means designed only to steal money from people. I don't think the people of Venezuela would call crypto a scam considering that they used it as a lifeline to protect their wealth when their own fiat currency was super-dooper hyper-inflating.

I still do not get what "backs" shitcoins other than mumbo jumbo talks.

Mathematics and cryptography.

 

[Gogol]

Mathematics and cryptography.

Cryptocurrency != Cryptography.
Same as Call centers not being IT (it is IT enabled service). You could call cryptocurrency to be cryptography enabled, in that way. It has nothing to do with being "backed" by cryptography. Cryptography doesn't control/fund crypto currency. If all whales (read, big scammers) dumped, you would be left with nothing. That's what cryptocurrency is, IMHO.

 

[Deleted member 1333509]

Cryptocurrency != Cryptography.
Same as Call centers not being IT (it is IT enabled service). You could call cryptocurrency to be cryptography enabled, in that way. It has nothing to do with being "backed" by cryptography. Cryptography doesn't control/fund crypto currency.

Fundamentally, cryptocurrencies are enabled by the use of cryptography.

The "chain" in blockchain (when applied to cryptocurrencies) is the cryptographic hash function that binds the last block to the current block (amongst other uses of cryptography in cryptocurrencies).

Without cryptography, this would not be possible. It's a major difference between Bitcoin et al and almost all previous attempts at creating digital money (that mostly failed catastrophically).

Cryptocurrency != cryptography is an absolutely true statement though, I agree. I wasn't implying that they are the same.

 

[Gogol]

Fundamentally, cryptocurrencies are enabled by the use of cryptography.

The "chain" in blockchain (when applied to cryptocurrencies) is the cryptographic hash function that binds the last block to the current block (amongst other uses of cryptography in cryptocurrencies).

Without cryptography, this would not be possible. It's a major difference between Bitcoin et al and almost all previous attempts at creating digital money (that mostly failed catastrophically).

Which is totally offtopic to your last reply. I do know what these are.

 

[Deleted member 1333509]

Which is totally offtopic to your last reply. I do know what these are.

It's on-topic because you tried to distance the importance of cryptography within the application of a cryptocurrency, and I was simply saying that it's a fundamental feature of cryptocurrencies. Your analogy with IT call centres is not applicable, IMO. That was all.

I do know what these are.

This doesn't match up with a claim that cryptocurrency isn't controlled by cryptography.. it's totally dependant on it, of course it's controlled by it.


My point with saying "mathematics and cryptography" was just pointing out that one of the reasons that cryptocurrencies hold value is because you don't need to trust that they are being run correctly or won't implode, they operate autonomously. You don't need gold to back something up if mathematics is doing that for you. That's all mate.