Shilled garbage is still garbage
In crypto we seem to have a common misconception that because a a crypto is that make it good and or promising. Well I’m here to tell you that that is a lie. Perfect examples of this would be TRX And XVG.
These two coins are prime examples because they were mass shilled and gained a lot of popularity though they did not have the tech to back it up. They saw massive growth in terms of price, but being that the growth was not based on fundamentals it could not be sustained.
Something that we have to all keep in mind is that everyone is here to make money. There are people out there that will sell you a pile of crap if it meant that they would get gains. So if something is being shilled please take the time to research before diving in.
At the end of the day, Garbage is still garbage, even if served on a dinner plate.
Good one. "Garbage is still garbage, even if served on a dinner plate".
glad you liked it :)
Of course, yes. Further, I'm going to steal this phrase from you to use it someday. Ha ha ha
Go for it.
This is why due diligence is so important. Sure there is money to be made off these shit projects during fomo bull runs, but when the market slows down, you want to be left holding something you believe in.
This is why investors need to do their homework: whitepaper, team, community, github, etcetera.
The thing these two coins you mention have in common is that hype beast style marketing. If the coin you are in is spending all the money on marketing then that may be a tell tale sign that something is up.
Verge are especially tricky as they were able to convince so many people they are a legitimate privacy coin. They used widely known (to the general public) privacy techniques and this made people confident in what they were buying. When people point out the flaws and show them true privacy coins (for example monero or zcoin) they label it fud. Not understanding ring signatures, zerocoin protocol, and so on.
I feel bad to the bag holders only to a certain degree. Noone made them buy these bags and not do the amount of homework they truly need to in this wild west market. I hope they learn from their mistakes.
Thank you for the going into detail about XVG, true shitcoin with great marketing. They added nothing to the privacy realm but claimed to be the best.
Coins like thee ensnare unwitting buyers into their traps and quietly fade into the dark.
There are lots of people who believe trx will make them Lamborghini owner... I feel petty for them
Sadly this is what happens with airdrops. people hype it because they got it for free.
For newbies in the cryptoworld it is really hard to decide what coin to invest in. There are more than 1500 of those. Some with added value and backed up with a great technology and a great team. Other have nothing.
Of course there are people who want to profit from this. Trying to create a FOMO, which is one of the biggest pitfall in the cryptoworld.
Even for the more wintered investors it is difficult to separate to good coins from the garbage coins. Even sometimes a white paper can give you the idea that a garbage coin, will have added value and technology.
When you do an investigation before bying a coin. I will bet that you will find a least a dozen of website of posting in which even the worst coin will go to the moon!
Could not have said it better myself.
The sheer glut of coins we now have is crazy
There are like hundreds of cryptocurrencies out there, some are heavily undervalued! IMO Tron TRX and Verge XVG had their moon shot abd those people expecting another moon shot are just dumb.
Some awesome cryptos which have real potential are WAX, ACT, PO.ET etc. Investing in such currencies are better than investing in some shitcoins
Cheers
J.D.
Yea expecting lightning to strike twice is quite crazy.
Snack box
I dont know ...i am right now so much into buying this garbage ...garbage is having value right now.....
?
Wow. Thank you for this information
I am glad i didn't put a penny on xvg and trx , even though i would have made some bucks by swing trading . I am a hodler , i would be dumped if i had those .
Nice info youve got there sir. Would love to know more from you.