melvincarvalho on Nostr: Yep, 99.9% of altcoins are just premined scams, designed to enrich the founders. ...
Yep, 99.9% of altcoins are just premined scams, designed to enrich the founders. Bitcoin stands apart because it’s the most widely distributed, with no rigged distribution or insider advantage—just a free market for value.
If people want to build something new—markets, contracts, whatever—great! The tools exist. But don’t hijack Bitcoin’s name or brand to sell a scam. We’ve seen that play out time and time again.
That said, altcoins have done us a favor—by attracting most of the dishonest actors away from Bitcoin. Not all of them, but a good chunk. And honestly? That’s fine with me.
Published at
2025-03-05 08:31:44Event JSON
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"content": "Yep, 99.9% of altcoins are just premined scams, designed to enrich the founders. Bitcoin stands apart because it’s the most widely distributed, with no rigged distribution or insider advantage—just a free market for value.\n\nIf people want to build something new—markets, contracts, whatever—great! The tools exist. But don’t hijack Bitcoin’s name or brand to sell a scam. We’ve seen that play out time and time again.\n\nThat said, altcoins have done us a favor—by attracting most of the dishonest actors away from Bitcoin. Not all of them, but a good chunk. And honestly? That’s fine with me.",
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