Whaleshares Logo

Few thoughts about the Crypto market....// The importance of "Hype"

lordbutterflyPosted for Everyone to comment on, 5 years ago3 min read



Lately i have been browsing around the internet a bit more, looking at various projects in my spare time. Usually i dont care much about anything more then BTC and STEEM but i wanted to learn more about other projects after the ETC fiasco i covered in few of my posts.
I couldnt wrap my head around ETC still being so high in market cap. When STEEM was going red, ETC was in the green.
It made absolutely no sense. It still doesnt.
Same goes for VERGE, BTG, DASH, MONACOIN... and many others that suffered a similar fate.

Sure, deposits are currently locked on many exchanges for ETC but all these other coins suffered a similar thing and they are still going strong. Almost all of them performing better then STEEM. Coins you could do a 51% attack on with 5000 USD and run away with a bag-full of shitcoins.
I personally wouldnt invest a single cent in them but apparently some people would.

Are the majority of crypto investors lunatics then?

No. I dont think they are.
If they are crazy then so are those that buy lottery tickets every week and expect to strike rich.

For all the talk about technology, for all the talk about immutability, about security and safety in the end it seems that the vast majority of crypto users do not care about any of that in the slightest.

Crypto seems to be driven by hype and expected returns, and even the biggest of shitcoins, if hype is present, can make it big.
People seem to invest in hype. Not the tech or the project value.

"Ill invest in this coin because the hype is at a high level, thus others will get hyped as well and increase the value of my investment."

Who doesnt facepalm when they see Verge at 44th place in Market cap? A fork of a meme coin.
When theres dozens of Bitcoin "carbon copies" in the top 50?

Did someone say "Bitcoin diamond", "Bitcoin cash", "Bitcoin gold", "Bitcoin SV".... "Bitcoin trash"?

The markets clearly dont care. HYPE IS THE NAME OF THE GAME.

Theres actually a bet going on the AUGUR platform whether COINBASE will delist ETC.
If this was "real world" id bet a million on "YES".

But since Crypto is some kind of alternate dimension where the rules of sanity do not apply, id go with a "NO".


Hell, they knew ETC was vulnerable when they listed it. They clearly dont care.

So whats my take from all this?
Well.....

"Hype man! We need da hype."

Speculators wouldnt know a good thing if it slapped them in the face. They want to buy lottery tickets... They want to hear about Lambos and Moons, they want to see mansions and half dressed models in their future. They want hype.

So lets give it to them.


The hype that is.

Ill see you around and dont buy shitcoins.

Keep on STEEMING!

Sign Up to join this conversation, or to start a topic of your own.
Your opinion is celebrated and welcomed, not banned or censored!