Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Articles about Cryptocurrency => Topic started by: Cryptocrit on December 19, 2023, 01:55:08 PM
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Some people say cryptocurrencies are like a big guessing game, similar to the wild times of the dot-com era. They point out how the prices of these digital currencies go up and down a lot in a short time. These critics also say that most cryptocurrencies don't have any real value supporting them; their worth is mostly based on people speculating and getting excited about them.
They also talk about Initial Coin Offerings (ICOs), where companies raise money by creating their own digital tokens. Critics think this is a sign that the whole cryptocurrency thing is a bit like a bubble. They say many ICOs don't have a solid plan or product, and they rely on people getting really interested in cryptocurrencies.
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https://www.cryptocrit.xyz/2023/12/cryptocurrency-debate-is-it-wild-guess.html (https://www.cryptocrit.xyz/2023/12/cryptocurrency-debate-is-it-wild-guess.html)
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ICOs are a way for projects to promote themselves. We cannot describe them as success or failure, but if the projects under them are successful, then the ICO will be successful, and vice versa.
Unfortunately, traders have a short investment range. No one will be patient for 3 months to achieve a 10% profit. The market now depends on hot money that comes from quick, non-continuous profits, which makes ICOs inappropriate in the current conditions.
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Some people say cryptocurrencies are like a big guessing game, similar to the wild times of the dot-com era. They point out how the prices of these digital currencies go up and down a lot in a short time. These critics also say that most cryptocurrencies don't have any real value supporting them; their worth is mostly based on people speculating and getting excited about them.
They fail to understand that if they say cryptocurrencies do not have value, that there is nothing in this life that also has value. It is humans that makes everything to have value. If a coin is selling at certain price, having a market cap just like physical assets, they also have value.
But there are some coins that are worthless, that are shit coins. We can not say those kind of coins have value.
They also talk about Initial Coin Offerings (ICOs), where companies raise money by creating their own digital tokens. Critics think this is a sign that the whole cryptocurrency thing is a bit like a bubble. They say many ICOs don't have a solid plan or product, and they rely on people getting really interested in cryptocurrencies.
This is true. That is why we need to research on a new project before investing.