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I suspect that you're going to get slaughtered by downvotes but I largely agree with you. It doesn't really matter that there's non-sketchy coins out there, thi
by NamTaf 9y ago
I suspect that you're going to get slaughtered by downvotes but I largely agree with you. It doesn't really matter that there's non-sketchy coins out there, this unregulated wave of fake altcoins is going to spoil the whole barrel in Joe Public's eyes. To them, crypto == bitcoin == every other coin. If the prevailing comments move from 'cryptocurrency is going up up UP' to 'there's heaps of dodgy scams out there, the barrier to entry is really high', it'll chill the whole lot.
The point at which something goes mainstream is the point at which it's often most fragile because first impressions at a large scale last. Early adopters and enthusiasts will invest enough time to sift through the cruft to find the relevant truth, but some random mass-adopter will rapidly form an opinion based on headlines. If the prevailing thought of cryptos is that they're unsafe right as they begin to hit routine mainstream news, it'll be a heavy burden to unsaddle.