Quote:
Originally Posted by |Zach|
Being new to the scene it is tough to cut through the signal to noise ratio in regards to news and trends sometimes. Really seems to be a flood of shitcoins. And it is funny because it is hard for me to describe it but I feel like I know it when I see it.
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99% are shitcoins. They all have some gimmick about how they are useful. Even smart contracts and NFT's are a gimmick to some degree. Cryptocurrency didn't become huge due to some specific utility of any coin, although it helps, people like it for....other reasons. The store of value in a deflationary currency is one major goal. There is a reason why offshore gambling sites use cryptocurrency instead of setting up payment processors, it's cheaper for one among many other reasons. Lots of other industries also that don't want to be near a fiat currency.