1114 Reasons Why Bitcoin Suffers
Bitcoin continues to strive however we could be so much further than we are today. There are currently 1114 reasons why bitcoin, Ethereum and litecoin are still suffering and they all come down to greed.
What are these 1114 reasons?
There are now a total of 1117 cryptocurrencies on coinmarketcap and I am sure hundreds more they have not yet made it there. This clearly points out the huge abuse and greed from people all around the world trying to scam and jump on the next big coin.
This has got to stop!
I’m honestly glad USA and China both took a stand towards ICOs and banned them because well honestly people are highly irresponsible with their money.
If all of this money was not pushed into all these other crypto currencies that honestly do nothing different than bitcoin, litecoin and ethereum (maybe even dash) the market would be exploding with wealth and support. But instead of that everyone cut tail and tried to jump on the next “penny stock”
This is my calling to all of you to stop investing in such crap and start treating the industry right. It’s not government's, scammers or hackers that are the downfall of cryptocurrency right now it’s people like you who are investing in pure shit coins that contribute nothing.
I know many of my posts come out cut and dry, but I believe in speaking the truth and not beating around the bush. I am a person of action as action speaks much louder than words and have invested a ton back into bitcoin, dash, ethereum and litecoin.It is time for all of us to shape up and if we want this to be successful use a little more common sense and stop being so irresponsible with our money and then going to whine to the governments when the bad choices we make come back on us. Take responsibility you have no one to blame but yourself.
I think it is the right time to STOP ICO...Many people loose their to buy ICO....
Yup about 1% of ICOs are actually legit
Although I think ICO should be controlled. I dont think that's do reason for the drop though
So when you spread money across 1000 other coins it some how does not reduce the price ?
I mean that would imply that everything that people put in ICOs they otherwise would have put in Bitcoin. I do think the price of Bitcoin is lower because there are competitors, but I don't think that's the reason for the big drop though. I did an analysis about what I think about that if your interested: https://steemit.com/bitcoin/@lumpi/this-week-might-be-perfect-to-buy-bitcoin
But it is, because ETH and Bitcoin is what is used to buy into ICOs so that money is dumped out of the system to buy crap coins in which they then lose all their money to scams etc. It is also what started all of the crack downs from china. ICOs have had a huge negative effect ever since they rolled out this year in mass amounts.
I get why such a huge amount of ICOs is bad but even if they scam people to give them btc the btc are still in the system. I don't get why the price of btc especially decreases because of that. Maybe only because cryptos in general seem less desirable because of the fraud that is going on with ICOs.
You speak the truth!