Vitalik is a scammer and so are all the cryptofag creators.
Have you ever tought how much he mined before releasing any info on this new revolutionary shill coin?
You are getting fooled /biz/ consider this a warning.
Pic related, vitalic before the gender surgery
how to get rich:
1) create a new crypto currency, mine yourself millions (or billions) of it when it is worth almost nothing
2) once you believe you have enough you start to shill: go to coin forums, make videos of how your coin is better than others and all teh fancy features that it wil have (all lies btw)
3)once interest is sparked people will begin to mine it/buy it,
4)price will rise a tiny bit then others will begin shilling for you, the shills will keep shilling and the price will go up and up
5) start selling your stock of shitcoin to the masses and keep the gain
its that easy. you shills thing shitcoins are a get rich quick scheme, and you are right, but not in the way you are using them. the get rich quick scheme is in creating your own coin.
Yes create a grounbreaking cryptocurrency good enough to convince everybody that it's better than the incumbent market leader of cryptocurrency.
Its that simple guys. Just create an economic system with infinite capabilities.
Sweet scam dude.
This may be a bubble but it is certainly not a scam. And currently it's a tiny bubble in the grand scheme of things
I still think ethereum is worth looking in to for a medium term profit at these prices.
It isn't a scam though. The price rise is caused by people who want to buy.
It is now the responsibility of both whales and the medium whales and dolphins of ethereum holders to use their newfound economic power for the benefit of the network. To invest back in to building the infrastructure of dao's and dapps that will make ethereum better.
But as the total value of the network grows so will the utility. The speculation and capital inflow, Thats part of the nessesary ingredients to make the whole thing viable.
Part of how a cryptocurrency works is it generates an economic incentive for the majority of actors to act in consensus. It provides incentive for miners who process transactions and logic as a side effect of mining for new coins.
The hashing power of the network needs to grow to be the biggest in the world to make it even more secure.
Still, it will grow, securing the network
And the market cap value will also determine the security of POS its far easier to attack a small cap POS than a high cap POS.
Also, there is now more economic potential for reinvestment around the ecosystem of Dapps and Daos now.
>best get rich quick scam
>create a new computing framework based on a substrate that gives inherent advantages not present in the currently used framework
>get the fools of the world to actually use it
>lol fuckin idiots we rich nao