I remember the ICO boom and looking back at CT, it doesn't seem too different now with the usual shilling and investors fomo-ing into coins on a daily basis and ofcourse getting rekt at times.
It doesn't seem limited to Crypto Twitter as YouTubers and crypto news sites are always shilling some random project for whatever reason they deem fit as there seems no dearth of people who will take the bait hoping for their project to 10x-100x their investment in a very short time frame.
I'm not very active on Twitter honestly but I have a curated lists I follow, but even then it can get too noisy for my liking sometimes. I get by just fine with minimal use by consuming key information, so this post is not specific to Twitter.
However, I've seen a lot of people FOMOing into DeFi this year for example. Discussions with a few friends and few years of observation makes me feel that the entire crypto space needs a lot more time to mature as an industry.
Possibility of quick gains are surely there for traders, or early investors/smart money but it does feel a bit ridiculous when you see some random projects making it into top 100 or top 50 overnight even if for a brief period of time before slowly melting away. A lot of the people in this industry still seem highly emotional about tokens they hodl even if they lack objectivity sometimes.
How do you feel about new token launches now if you've spent considerable time in crypto? Do you feel valuations could be a bit more realistic?
It started with Bitcoin but now there are some 6000+ coins now in just 12 years? So, how many are too many? Do you think this space will eventually explode with an insane number of cryptos to choose from as new ones pop every day?
Are you still FOMOing into new tokens or sticking with known or proven projects that have been around for a few years as we get closer to the end of 2020?
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So far I have been sticking with hive only - started on Leo very recently, based on all the buzz I saw and also because its built on hive. The only other coins that have been interesting to me are ETH and ADA, YET to invest in that. BTC of course is a desirable asset, but price is too much.
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