Earlier today a bitcointalk member OCminer made a post about a 51% attack that had been orchestrated on XVG verge. This user wrote a brilliant post detailing the hack and evidence to back up the claims that he had made. It was clear that the user was wanting to warn the community.
In my eyes it was pretty clear that he wanted to alert the devs so that they could get out in front of this and hopefully keep the losses to a minimum, but in the cryptosphere anything negative is greeted by idiots.
What's sad about this situation is that it is not isolated. Everyone feels that any negative post is immediately done by a fudder to decrease the price. So any valid concerns or issues on forums such as Reddit immediately get Nuked with downvotes and never really reach the intended audience.
This is why scam coins are able to dupe so many people. Those who are invested in the coin are so anxious to go to the moon they will ignore all warning signs. Personally, I am willing to investigate any concerns brought to my attention because no one or team is perfect. So if there is a reason to be concerned i like to know ahead of time.
Bitcointalk attracts a lot of intellectually deficient people.
The reputation score/merit/levels and ads campaigns make it worse by encouraging spam to "lvl up" and win a few cents.
Redditors are about the same, wondering why their coin developers don't list themselves on coinbase, blaming vitalik for not removing scam tokens, referring coins as "shares"...
A lot of people don't know what they are doing and are not willing to learn.
Remember that loosers are indispensable in trading. An old adage say they represent 80% of the population.
To be fair, this is a vast majority of all the crypto community no matter where you go. Crypto has allowed people around the world to become "investors" no matter how intellectually deficient they are. There is a significant amount of dumb money in crypto currencies.
Well said. guess there are a lot of kinks to be worked out.
I agree fully with what you say here, @crypto2crypto. But I'm afraid it's not going away anytime soon. These (mother-) "FUDders" are more often than not heavily invested themselves in the coin they're FUDding around with. It seems like people nowadays mainly invest in crypto's for a quick buck, and not so much out of a real understanding of the fundamentals of the coin they're investing in. Their money is at stake and they will defend that with their last breath, I'm afraid.
Forums in general, but especially forums about the wild wild west that is the crypto space, have become more hostile because of this phenomenon.
Let's just hope enough people heed your words, the world will be a better place for it.
Thanks for your post! Upvoted and resteemed.
I think they are trying to defend their emotional confort.
It's easier to think of bad news as being FUD, than analyzing the problem and take proper action.
A bunch of ostriches.
Yes... and that too ;-)
Guess it will come down to darwins evolution taking over. Eventually the weak will fade out and you will be left with an astute group coin holders, those who can decipher valid info from trash.
Thank you so much to share
Won't be surprised to hear those behind the hack might be the ones downvoting the post along with those who see a legitimate warning as nothing more than a farce and an attempt to create FUD amongst the zvg verge userbase
This is possible as well.
I wouldn't catogorize this a FUD. FUD according to me are attacks from outside the crypto sphere, trying to undermine it with false information.
This is, like you wrote, a warning from somebody who wants to make things better.
For such reason I did stop posting on bitcointalk. Every question about a coins could be interpreted as FUD, trying to undermine the business case and so on, while I sometimes want a clear image of the coin I am willing to invest in!
Exactly. Those forums would be great if everyone wasn’t so self serving. I come across so much information that would help, but I really don’t feel like dealing with trolls 24/7
Hello @crypto2crypto! very interesting your post. The truth is that it is good to be aware of everything that happens and to learn something every day. thanks for always sharing good information.
the post is amazing
great post.realy good job.
Hey man, Great post btw.
I made a youtube video couple of days ago about this. This is a massive issue with the cryptocurrency market and need to be sorted for us to be able to move to the next level!
Yes.
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I think the term 'FUD' should be reserved specifically for US mainstream media reports about crypto happenings in other countries.
'Scam' is another word that is losing its' meaning which is dangerous.
Very useful article about cryptocurrencies. Thanks for discussing with us.
Sadly, this is a common thing with crypto. People are paid to either spread hype, or fud the coin. With that said, the whole situation with xvg is NOT FUD. It's a serious issue that has now gotten alot worse, with xvg still being exploited currently as of writing. You think Bitcoin talk is bad? Hell, check out the verge subreddit or even Twitter. The amount of delusional people is scary.
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In excess of a 100 money related organizations were focused over a time of 5 years; the culprits figured out how to escape with as much as EUR 10 million in each heist. As indicated by Interpol and Spanish police explanations, the pioneer of the group is a Ukrainian called "Denis K." who was captured alongside three speculated associates from Russia and Ukraine in the Spanish city of Alicante.
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Back in February, the Thai police captured Sergey Medvedev, said to be the number two man in a universal cybercrime association and manager of the Dark Web webpage Infraud, who, at the season of capture, was in control of more than 100,000 Bitcoins (USD 799 million).