Alt coins are a ponzi scheme
Hello,
It seems like most alt coins are trading against the bitcoin, people enter orders in bitcoins to buy alt coins.
What happen when the price of bitcoins go up ? The orders for the alt coins still the same, the market value of the alt coins is inflated. If bitcoin go up, then all the alt coins will go up, and if bitcoin go down, then they will also all go down.
If bitcoin goes up 10 fold most alt coins will also go up 10 fold. It's a pyramid.
The global market cap seems to be higher and higher because of this simple fact, but the real money it's only inside of bitcoin.
You've got it all figured out, eh? It's all one big scam and people's work is fake and meaningless with no use cases. Guess we better jump ship before we all get scammed.
shit, you may be right about this guy.
Sadly, I think that I am. I just cannot respect such far-flung accusations when someone clearly isn't in tune with what they're purporting as factual. It's blatant FUD in my opinion :-/. I hate flagging things, but the mechanism serves a purpose. The only time I ever use it is to combat disinformation.
This one's a bit hard to swallow. yeah, sure some coins are vaporware but most, really? I'm not buying this one and you just made it hard for me to believe anything you say now.