npub1sc…ezcgq on Nostr: Shitcoins are affinity scams made to resemble bitcoin, but are usually pre-mined so ...
Shitcoins are affinity scams made to resemble bitcoin, but are usually pre-mined so the founders can dump on their holders, or staking so people can't cash out while they run off with people's "investments", or maybe they offer "features" like Turing-complete coding on the base layer, a provably ridiculous idea, or they're somehow "greener" or "faster" than bitcoin, but really they're just centralized and prone to censorship or attacks from multiple vectors. They keep coming up with new reasons why they're "better" than bitcoin, and every cycle they die off and new ones appear like a herpes flare-up. There can't be 20,000 better bitcoins.
Published at
2023-01-31 03:02:03Event JSON
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"content": "Shitcoins are affinity scams made to resemble bitcoin, but are usually pre-mined so the founders can dump on their holders, or staking so people can't cash out while they run off with people's \"investments\", or maybe they offer \"features\" like Turing-complete coding on the base layer, a provably ridiculous idea, or they're somehow \"greener\" or \"faster\" than bitcoin, but really they're just centralized and prone to censorship or attacks from multiple vectors. They keep coming up with new reasons why they're \"better\" than bitcoin, and every cycle they die off and new ones appear like a herpes flare-up. There can't be 20,000 better bitcoins.",
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