Picture an NBA where the players didn’t know how to dribble the basketball. Envision a world where professional dancers can’t do a ‘two step.’ Imagine a rodeo filled with cowpokes who have never ridden a horse.
Got the picture?
Welcome to the fabulous world of new altcoins, where the vast majority of ‘coin devs‘ don’t know the difference between C++ and Python. These guys don’t know to make an image file. They can’t design a website. They have never managed servers. And they sure as hell don’t know a thing about global finance or managing a global currency.
Heck, most of these guys probably don’t even know the basics of what a blockchain is or does.
So what is their plan? Their plan is to introduce a coin and let the ‘community‘ do all the heavy lifting to cover up their gross incompetence.
What’s The Difference Between A Real Dev And A Cartoon Dev
Great question! Let’s take a look at the identifying characteristics that make a great altcoin dev versus a cartoon version of one.
A Great Coin Dev
- Knows the basics, intermediate facts, and advanced knowledge required to construct his own cryptocurrency.
- Has a solid grounding in economic theory and currency issues.
- Has a deep insight into the current market.
- Creates an altcoin that solves a problem.
- Has leadership skills that can help galvanize and organize a large community effort.
- Is a hardworker who shows up every day to nurture the project.
- Has enough connections in the community to build additional services.
- Has gained credibility and trust by demonstrating prowess in the arena.
- Can articulate his vision for his cryptocurrency
- Is willing to devote time, energy, and money into making the coin project a success.
A Cartoon Coin Dev
- Knows how to copy existing altcoin code and slightly modify it. (Or pays someone else to do it)
- Expects everyone else to do all the heavy lifting.
- Expects a pump and dump to make the coin money.
- Puts in almost no effort and disappears very early on during the project.
Now I’m sure you can see the difference between the two types of coin devs that exist right now.
It Takes Magical Thinking To Believe In Cartoon Coin Devs
There are two types of people who invest in or mine altcoins. The first group are the trusting ones who are willing to take the Cartoon Coin Devs claims at face value. They believe what they read in the announcement.
The other group of miners and speculators is filled with cynical personalities who know the score. Their only plan is to pump and dump. They know the Dev is a moron and they know they can’t be caught holding the coin for long. They realize holding an altcoin made by a cartoon Dev is the same as holding a bag of flaming shit. Things will not end well.
I’m sure you already guessed it: it’s the second group of people who sell to the first group. For many of the once-trusting crew, the experience of being ‘dumped on‘ is an eye-opening one. They either quit the business altogether or they move to group two! If you don’t believe me, look at the posting history of many ‘pump and dumpers‘ now who continuously tout new coins. Go back to their first few weeks of posting. You’ll see they used to be little sheeps following the crowd until they wised up and joined the larger group of pumpers.
Cartoon Coin Devs Are Going To Break Your Heart Every Time
If you’re a cynical prick and you know the Cartoon Coin Dev is a loser and you get in and get out quick, I can’t blame you. Deep down you probably know that you’re helping to destroy any chance of legitimacy that alternative cryptocurrencies have. Still, I don’t blame you. People have families to feed. If they find a way to make a few extra bucks to put clothes on their backs I can’t blame them.
The first group of true believers, though, need to start waking up and paying attention. It’s YOUR MONEY the Cartoon Coin Dev is going to steal. It’s YOUR hash power that is going to be forever wasted when the coin goes KABLOOEY!
Thanks for stopping by and reading. Leave any comments you have below.