NEWBIES in crypto have created a new market,
HODL will always prevail but due to the drop and "panic" (lack of understanding) this market is doing spirals and is flooded with low tech pump and dump coins.... for a seasoned crypto fan like me this is getting very painful to see, am watching the future of a fair world get dismissed by greedy uneducated traders.
In my opinion most if not all newcomers to crypto know nothing or very little about what cryptocurrency should be and end up getting tons of altcoins that have no social or technological insights and selling when the price slightly drops then buying in again or finding other altcoins to pump and dump to make there fiat wallets grow.....
Please learn how to attribute value to different cryptocurrencies. revenue and cashflow mean nothing in this market, it's all about the tech and usability!
If you really think about it bitcoin created the blockchain. That original ledger is what the blueprint and should be used for emerging cryptos, it was tried hundreds of times by many people before satoshi all of them failed yet I understand we still have a very long way to go in this new age of economics and with new tech being developed everyday, it maybe hard for bitcoin to keep up but bare in mind bitcoin was and will always be the blueprint for a cryptocurrency that works,
We have gone from 1st generation crypto's like bitcoin to mega data slammers like cardano and ethereum we have 3rd and even 4th generation with multiple blockchains most of them using the same blueprints as satoshi's bitcoin.
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So my advice to NEWBIES is follow the decentralized developers that prioritize the constructive social mandates that made bitcoin revolutionary, research blockchain technology and DON'T PANIC WHEN THE MARKET DROPS, it's just the start!
Hopefully this post helped shed some light on why market has been flooded with bunk altcoins, if you have any comments please share i would love to hear you views on this "pump and dump" market.
Thanks for reading!