Jenka on Nostr: It's not just memecoins that are Shitcoins.. 99% of Crypto (including Eth) are ...
It's not just memecoins that are Shitcoins.. 99% of Crypto (including Eth) are Shitcoins.
They are pre-mined/minted, which means they appear from thin air and have nothing going into them. Bitcoin is mined, and at every halving it takes more resources (time and energy) going into Bitcoin to make more Bitcoin.
Most Shitcoins have a 'Foundation' or Dev team that keep a large portion of coins/tokens at mint, it is just a cash grab, a way for them to get paid.
These Foundations or Development teams are the ones that make all the decisions on these coins/tokens, making them absolutely centralised.
This is not me telling you to not buy them, you can absolutely make a lot of money buying them on the bear market and selling them in the bull market.
Just don't think that any of them are going to get anywhere near the level of Bitcoin.
They are pre-mined/minted, which means they appear from thin air and have nothing going into them. Bitcoin is mined, and at every halving it takes more resources (time and energy) going into Bitcoin to make more Bitcoin.
Most Shitcoins have a 'Foundation' or Dev team that keep a large portion of coins/tokens at mint, it is just a cash grab, a way for them to get paid.
These Foundations or Development teams are the ones that make all the decisions on these coins/tokens, making them absolutely centralised.
This is not me telling you to not buy them, you can absolutely make a lot of money buying them on the bear market and selling them in the bull market.
Just don't think that any of them are going to get anywhere near the level of Bitcoin.